1. Please share the glorious journey of Mehta Realty
– Mehta Realty is backed by a rich legacy that spans over four decades. The organisation was founded by Ramesh Mehta, who laid down a strong foundation of values that are still upheld in every project and every undertaking. As a partner and third-generation entrepreneur, I currently lead Mehta Realty, upholding our organisation’s focus on creating homes that become an integral part of each buyer’s story. What differentiates Mehta Realty is our ‘construction-first’ approach, which has led us to create noteworthy projects that are delivered on or before RERA timelines, regardless of market conditions. It is this unwavering focus on honouring customers’ trust that has seen us set new benchmarks for reliability in the industry. Today, Mehta Realty doesn’t just build projects; we design landmarks that have revolutionised the sector in terms of innovation, revitalised the communities they are a part of, and brought together the best of design and technology.
2. What are the prominent projects delivered by Mehta Realty?
– Mehta Realty has undertaken over 40 landmark developments, 180+ buildings constructed and 12,000+ homes across 96.5Lakh sq.ft spread over a number of acres across Mumbai, Thane, and Kalyan. Notable projects include Yogi Dham, a 22-acre township in Kalyan that accommodates over 3,000 families, Amrut Paradise (once the tallest building in Kalwa) and Mehta Legend, the first green building in the area. The 2-million sq. ft. One Kalyan presents the concept of integrated, mixed-use living. Mehta ONYX 1978, Altura 1978 and Highland 1978 are some of the current projects continuing this tradition of excellence, and with Mehta Marquina in Goregaon East, 6.5 lakh sq. ft. of refined 2 & 3 BHK residences.
3. Tell us about the major factors that you keep in mind while undertaking a project
– Mehta Realty’s approach to projects is multi-pronged – our core business principles are the bedrock of our institution and include upholding trust, customer-centricity and integrity at every stage of the construction and sales cycle. We operate on a unique ‘construction-first’ principle that prioritises creating high quality structures, on or before the RERA timeline. This approach stems from a deep commitment to upholding our customers trust, imbuing each project with greater accountability, transparency and sincerity. Furthermore, we are committed to adopting rapid technological advancements, strategically investing in project-specific machinery and efficient technologies to build better homes, faster and more efficiently, thereby ensuring early project completion.
4. Give us your view about the present real estate industry of India and what are your expectations for the next few years?
– At present, Mumbai’s real estate market is experiencing a bull run with significant price appreciation, driven by high buyer confidence. This momentum is being upheld by a stable economy, the timely delivery of projects, and an increased interest in investing in real estate over more volatile alternatives such as the stock market. The luxury and ultra-luxury housing markets are major sales drivers, with demand for homes priced above ₹10 crore predicted to continue to rise in correspondence with the influx of high-net-worth individuals in the city. However, this rising demand has led to a lopsided surge in premium property developments, widening the gap between demand and supply in the affordable housing sector. As a result, market entry for many first-time homebuyers has become more challenging. In recent years, a shift towards remote and hybrid work routines and increased emphasis on wellness and work-life balance has prompted buyers to seek larger 2 and 3 BHK homes. There is also an increased preference for vertical communities that accommodate residential, professional and leisure spaces, offering buyers a comprehensive lifestyle upgrade.
Rising property rates in Mumbai Property market have driven homebuyers to seek more affordable and spacious alternatives in suburbs such as Thane, Navi Mumbai and Kalyan. These areas are witnessing a rapid transformation due to infrastructure improvements, leading to the development of premium projects with a comprehensive assortment of amenities. On the commercial front, the demand for offices has continued to rise, with record leasing numbers and high demand for flexible workspaces and warehousing in key commercial hubs.
Looking ahead, we predict that property prices will continue to rise, although the rate of appreciation will be more moderate. Mumbai’s luxury market, in particular, is projected to appreciate by 10-12 per cent annually. The completion of major infrastructure projects such as the Mumbai Trans-Harbour Link (MTHL), Coastal Road, and the expanding Metro Network will significantly improve connectivity and unlock new real estate corridors. We also notice tech-forward and sustainability-led projects emerging as the new standard. Smart home technology and green building certifications such as LEED and IGBC are no longer optional extras but integral considerations in new properties as buyers become more tech-savvy and environmentally conscious. At the same time, fractional ownership and Real Estate Investment Trusts (REITs) are gaining traction, making real estate investment more accessible to retail investors with smaller budgets. Finally, Mumbai’s real estate sector is on the cusp of a much-awaited transformation due to astute redevelopment projects. For a land-scarce city, the revitalisation of older buildings and congested neighbourhoods will generate the supply of new and modern housing that meets contemporary lifestyle and sustainability standards.
5. How important is sustainability for Mehta Realty?
– Sustainability is a significant priority for us. This is evinced in Mehta Realty ’s commitment to exclusively undertake certified green building projects, which uphold the latest sustainability standards and incorporate eco-minded innovations.
6. What are your future plans?
– Moving forward, Mehta Realty is expanding its presence in the Western suburbs of Mumbai with upcoming launches in Goregaon East that comprise of Mehta ONYX 1978 and Mehta Marquina luxury cluster redevelopment. We have a remarkable pipeline of nearly 1 crore sq.ft. under development. As one of the most revered names in the industry, each project is spearheaded by a groundbreaking vision, maintaining the principles of trust and accountability synonymous to Mehta Realty. We plan to leverage construction technologies and delivery models to provide smarter homes on time and add further value to the communities we serve – securing the legacy of goodwill for generations to come.
