Lalit Kumar Jain, CMD, Kumar Builders

Lalit Kumar Jain, CMD, Kumar Builders, joined the group at age of 17. After family business partition in 1999, Kumar Builders Group made a mark in Pune and completed more than 40 projects admeasuring about 5.5 mn sq. feet. setting a new benchmark in Trust worthiness. Jain has also been conferred with many National Awards. Recently, he has bagged "Man of the Year" by Accommodation times. Also KUDL was awarded by Construction World as Top 10 Builders. Jain is also Chairman of Confederation of Real estate Developers Associations of India, (CREDAI).

Kumar Urban Development Limited focuses on residential and commercial development in Pune. It also operates in Mumbai, Bengaluru, Hyderabad, Panchgani and Nagpur. The company's projects span across affordable, mid-segment and luxury homes to commercial and retail complexes, apart from IT complexes and SEZ. KUL has a number of prominent residential and commercial properties along with 8 townships with a timely track record of delivering over 10 million completed projects. KUL believes in sustainable and quality real estate, redefining - City Skylines and Lifestyle standards, to help build a healthy society by integrating technology to achieve speed and innovation.

Speaking with Yash Ved of IIFL, Lalit Kumar Jain says "We want a regulator but 90% of regulation today is about delay. The regulator needs to think about how the new bill will benefit all the stake holders involved."

What are the major challenge real estate industry faces?

Firstly, in this country there is a stigma about the housing industry. Then there is a policy paralysis where only a few states talk about land reforms.

Today in any project 70-80% of the cost is of land. How do you then expect property prices to go down? So the main issue is about land cost reforms.

Do real estate Companies needs a regulator?

We want a regulator but 90% of regulation today is about delay. The regulator needs to think about how the new bill will benefit all the stake holders involved.

Government policy needs to include more thought from the corporate sector.

Which are the major projects which company plans to launch?

KUL has so far developed 70 million sq ft with 9 million sq ft of city centre projects, with focus on Pune, Mumbai and Bangalore.

We are planning to launch two projects in Mumbai, Worli and Tardeo.

The company is also planning to launch township project in Hinjewadi.

Your outlook on real estate prices?

We expect prices to remain stable. Pune has a good off take market because of employment generation.

What are your comment on Real estate regulatory bill?

Real estate regulatory bill needs lot of modifications. He has expressed fear that it could encourage corruption instead of curtailing the social menace. The Bill should have aimed at catalyzing domestic and foreign investment into the real estate, thereby contributing to enhance economic activity and increase in GDP growth.