Why Affordability And Quality Are Codependent? – Explains, Deepak Kapoor, Gulshan Homz

In association with TV9 Bharatvarsh, India’s No. 2 Hindi News Channel, Orientbell Tiles presents to you the second episode of their one of a kind show ‘Building A New India.’ The show is a three part series that aims to bring together policy makers, prominent builders and leading thought leaders from the real estate sector to discuss the challenges faced by the industry, especially in this post-Covid era.

In the second episode of the series the topic of discussion was “Affordability With Quality” and the panelists in this episode were Mr. Deepak Kapoor, Director Gulshan Homz, Ms. Meetu Mathur, Director GPM Architects & Planners, & Mr. Rajiv Nehru, RICS.

Mr. Deepak Kapoor, Director, Gulshan Homz spoke for builders across Delhi/NCR and why quality outweighs affordability in the longer run.

Here is what Mr. Deepak Kapoor said on the second episode of Building A New India in order to re-imagine the realty sector.

A country can only succeed if the real estate of the country is successful.

Today, the dream of every Indian is to see a new India, a developed India, and the real estate sector will have a major role to play in it. When a country progresses, the big picture doesn’t consist of just flyovers, highways, airports, but also depends on the fact that each citizen of the country has a roof over their head and has a home of their own. By this logic the importance of the real estate sector increases by a lot.

With low interest rates, there is a growing demand for homes since more and more people can afford to buy the homes of their dreams. But, what do buyers look for in a home? Well, they look for two things: affordability and quality. In this scenario, what are the difficulties faced by the real estate sector in order to balance both affordability as well as quality without losing profits.

“Quality and affordability have two aspects,” says Mr. Deepak Kapoor of Gulshan Homz.

The first aspect Mr. Kapoor says is that quality and affordability go hand in hand. The affordability of a home will depend on the cost of the product used and the quality of the home will depend on how affordable the home is to be. The second aspect is that there is a common misconception that affordability and quality always contradict each other. Most people think that if something is affordable it must be of a lower quality and if it is expensive then the quality must be great. This is not true.

Currently due to a lot of government policies as well as with rising raw material costs it is getting difficult to deliver homes that are affordable as well as of a good quality while making a profit. When asked to comment on that, Mr. Kapoor pointed out that delivering a quality end product does not necessarily mean using expensive raw materials. A quality product can also be produced by using cheaper material using the correct process and stellar workmanship.

Mr. Kapoor explained, citing the example of the army, that it is not necessary to use expensive materials to get a quality product. Most army barracks are made using regular bricks and are covered with chuna (limestone). But if one goes to see the barrack they will see that their workmanship is superior and all the bricks line up perfectly. So, it is not only about the material but also about the workmanship that impacts the affordability as well as the quality of a house.

You can now view the entire episode on Affordability With Quality here.

With Building A New India Orientbell Tiles aims to bring thought leaders & policy makers in the real estate sector to re-imagine the realty sector.