End of the year is the right time to emphasize on the company’s achievements of the year gone by and what to expect in 2019. We have pursued our vision to be a progressive real estate brand and prioritize consumer preferences over and above anything. To this effect we will be focusing more on the affordable and affordable luxury segments in the coming years, upholding the Century standards of quality.
Post RERA and GST, the real estate industry is witnessing consolidation as evident from more funding to larger businesses that are not only taking over distressed projects but also absorbing smaller players. Organized developers are taking a keen interest in the affordable housing segment while consumers are clearly opting for completed projects rather than those awaiting approvals.
Century Real Estate’s advantage of a vast landbank in prime geographies at historical costs has held us in good tide as a well calibrated, asset rich organization with significant sales velocity in plotted developments. However, this is definitely not to undermine or take away from the valuable contribution, determination and dedication of every Centurion that has helped us sustain our industry leadership over 5 decades.
Your support and confidence has sustained our brand as one of the top 10 developers in South India and one of top 50 developers in India by various industry rankings like Track2Realty and Construction Week. I am humbled by this recognition of our team, our transparency and trust among stakeholders, underwriting discipline, and high-quality customer service.
In the wake of the general elections next year, I stand in firm hope of the government addressing long-standing concerns of the real estate industry. Faster approval mechanisms and bringing stamp duty within the ambit of GST will go a long way in shaping the nature of our sector. Budget 2019, touted by many as the “Election Budget” will be interesting in that regard.
For Century Real Estate, 2019 is expected to be an exciting year as we look forward to the launch of three new projects in the next fiscal year – Century Downtown, Century Horizon and Century Midtown with a combined commercial and residential space of approximately 4 million. Engaging world renowned consultants and architects, these projects will flaunt state of the art facilities that will transform the landscape of North Bangalore whilst making our brand synonymous with the northern skyline of the city.
Continuing our winning spree, I am pleased to share that Century Infiniti and Century Downtown have been awarded “Residential Project of the Year 2018” and “Most Admired Upcoming Project of the Year 2018” respectively at DNA Presents Real Estate and Infrastructure Round Table and Awards 2018. Century Greens marketing office was honoured with “Façade Project of the Year 2018” at Zak Awards for Excellence in Façade and Fenestration. Once again, I’m grateful to every Centurion for their commitment and work ethic that aided these industry accolades.
I am most delighted to share that our unflinching resolve to give back to the communities we operate in has resulted in the substantial development of the village of Channahalli in Chikkajala, Karnataka, that was adopted by the Century Pai Foundation in March 2018 for a period of 15 months. In a bid to improve the physical infrastructure and socio-economic conditions of the 1200 villagers, the Foundation has been consistently assisting in community interventions in the areas of secondary education, adult literacy, health, environment, civic amenities and financial empowerment.
Activities like free health check-up for over 600 residents, distribution of free secondary education materials to the Channahalli government school children, construction of new school stage, plantation of 106 saplings in and around the village, initiation of backyard kitchens, waste segregation awareness, and 100% bank accounts for all 300 households – all with the help of Centurions who volunteered tirelessly have yielded prominent results. I am proud to announce a 60% increase in adult literacy, 40% decline in school dropouts and absenteeism, and 50% increase in overall green cover of the village.
On the education front, I am happy to share that Vidyasagar Pre-school has been ranked 7th in Bangalore by the Education World Pre-school rankings 2018-19 whilst Vidyashilp Academy continues to uphold its pioneering position as India’s First Fairtrade School.
I am gratified with all our accomplishments this year and sincerely thank all Centurions, our partners and patrons for a fabulous 2018.