Please brief us about the glorious journey of TARC.
Anil Sarin embarked on a journey that put the needs and goals of his customers at the centre of his business about forty years ago. The company began as a building and contracting firm before growing to become one of the biggest land banks and real estate developers in the New Delhi Metropolitan Area. The solid work ethics and trust built up during this journey served as the cornerstone for more expansion. The company made huge achievements to achieve continuous expansion and listed on the Bombay Stock Exchange in 1990 as a Public Limited corporation. More recently, the company was listed at the NSE and BSE under the name TARC Limited, and it was permitted to begin trading on December18, 2020.
TARC Limited, which is predominantly located in the Delhi-NCR region, is the owner of more than 350 acres of fully paid land parcels and built-up assets inside the New Delhi municipal limits. In addition to Manesar and Greater Noida, where the company has more than 250 acres of valuable land under ownership, it also has land parcels in Gurugram.
Please brief us about your key milestones projects as well as upcoming projects.
TARC Limited recently completed one of the largest transactions by a real estate company in north India in recent times, raising $1,330 crore in the form of secured long-term non-convertible debentures from private equity firm Bain Capital. In addition to developing the Company’s land parcels in Gurgaon and New Delhi intended for residential development, TARC has used a portion of this newly infused capital to retire its entire existing debt, for purposes of expansion, and to maintain the growth momentum.
There are a few ongoing and upcoming projects which are listed below:
- TARC, Maceo
- TARC, Tripundra
- TARC, Residental Gurugram, Sector 63(A)
- TARC, Hauz Khas
- TARC, Lakeview
- TARC, Central West Delhi
- TARC, Green Retreat
- TARC, Greater Noida
Please brief us on the effect of increased cement prices on the realty sector.
After struggling for a while in the face of the pandemic, Indian real estate has made a phenomenal comeback. It was abundantly clear that commodities would experience a period of market instability with the advent of the pandemic, which caused a sharp slowdown in economic activity internationally. However, the shifting marginal prices of building materials, especially cement, are transient and temporary. In addition to logistical difficulties and rising fuel prices, this is partly linked to the rising global prices as well. This is why, marginal price changes have been taken into account when planning projects, and this should not affect the cost to consumers while maintaining its upward momentum.
Why should RERA monitor the developers?
The Indian parliament approved the Real Estate (Regulation and Development) Act, 2016 (RERA). The RERA aims to safeguard homebuyers’ rights, while simultaneously encouraging investment in the real estate market. It is a reliable regulatory framework that works to fairly balance the interests and rights of homebuyers and developers in an accountable and transparent manner. In addition, while upholding the criteria set forth by the RERA Act, homeowners must be informed of the progress/schedule of the project and offer security and confidence in the developer. A more absolutely equal transaction between the seller and the buyer of properties, particularly in the primary market, is what RERA and the government’s model code seek to achieve in India.
Please brief us on your future expansion plans.
TARC is currently concentrating on the development of its luxury residential project, Tripundra in New Delhi. With the Airport & Aerocity nearby, the ongoing project on Main Bijwasan Road, facing 5500 acres of Pushpanjali Greens, offers 3 & 4 bedroom luxury houses at a location unlike any other. The property parcel in Central Delhi will soon become the site of a 1.6 million square foot building. Chattarpur and Hauz Khas are two other projects in Gurugram Sector (63A) that are planned for construction in the near future. In Rajokri, close to the Delhi airport, the company will build a second 200-key hotel and manage houses on a 7-acre parcel of land.
Please share your success mantra with our readers.
The foundation of effective leadership is optimism. A leader is an optimist when he is positive about the future of their company and the success of their team. A solid work ethic must include discipline, which is a quality that is highly admired in the business. The discipline also contributes to the upkeep of office etiquette. A future-focused mindset is equally important to the organization’s success. In order to maintain the company’s values and advance its workforce, leaders must embrace the future and be receptive to novel concepts, cutting-edge innovations, and emerging trends. In addition, teamwork and collaboration are necessary for achieving both the organizational vision and mission as well as the goals of any one person.