Aakash Patel
Aakash Patel

Integrity is at the core of our vision: Aakash Patel, Director, Atul Projects

Aakash Patel, a third-generation member of the Atul Projects management team, shares some insights and tips on how the real estate industry is responding to the pandemic.
By HT Brand Studio
PUBLISHED ON MAY 06, 2021 05:14 PM IST

Walk through the streets of Mumbai and you will see some of the biggest real estate projects having one name in common – Atul Projects. The company that has been at the forefront of real estate and building in Mumbai and Maharashtra since the past forty years, is now gearing up for a time when fate and nature will finally start smiling on the real estate market, from those looking to buy spectacular projects at budget rates and builders who have an inventory that’s just raring to go.

Aakash Patel, a third-generation member of the Atul Projects management team, shares some insights and tips on how the real estate industry is responding to the pandemic.

During the pandemic, he described the different steps they had taken to make real estate investment easier for potential buyers. An online site visit, which ensured that both met Covid-19 regulations and provided a premium experience, was one of the steps that worked well with the audience.

Although the Covid and the pandemic have dampened the excitement of both buyers and sellers of real estate on the ground floor, he claims that the real estate market hasn't been as poor as other markets. He also said that development began shortly after the initial panic, indicating that business as usual in the real estate industry at the macro level.

Atul Projects is one of the few real estate companies that’s a family business. The company was founded in the 70s by Shri Nathalal Delwadia, who passed on the reins to his son, Mr. Atul Patel. Today, Mr. Atul Patel’s sons, Aayush and Aakash Patel handle the day-to-day aspects of the business. Aayush holds a Master’s Degree in Real Estate from CASS University and Aakash holds a Master’s Degree in Business Management.

Commenting on the involvement of family members in the company, Akash said, “Atul Projects believes in preparing a core group that has the integrity and turpitude required to be in the real estate business. After almost three decades, we have that core team that works together to achieve what we have all set out to.”

Further adding he said, “It feels good to have a family member working with you, as there’s an amount of comfort that you have with them. Of course, we don’t believe in taking homework with us, as we have decided to keep work and personal time different.”

Mr. Patel said that there are very few real estate developers who share the enthusiasm that Atul Projects looks for and puts into a project while speaking about the limitations that Atul Projects faces when doing business. He mentioned that the door is still open for a joint venture, but that all parties must conduct due diligence.

With times changing, projects are coming up in what was once supposed to be the suburbs of Mumbai, where Atul Projects is coming up with major projects. Mr. Patel said that while these were considered the suburbs in the eighties and nineties, the infrastructure, amenities, and services available today make these places at par with the speed and quality of life in Mumbai.

Everybody is re-examining their investment aspects, like real estate as an investment for the well-heeled. Although real estate is still one of the best investments, it is still preferred by those looking for long-term gains. With the pandemic wreaking havoc on both short- and long-term plans, he spoke about the future of real estate investment.

Mr. Patel believes that real estate investment has a long way to go, and that idea still has currency in the minds of the average Mumbaikar.

Having experience in his field, he suggests that, “People need to remain positive, this city and this industry has gone through a lot – it doesn’t take much for both to bounce back.”

Disclaimer: This is a company press release. No HT journalist is involved in creation of this content.

SHARE THIS ARTICLE ON
Close
SHARE
Story Saved
OPEN APP