Top 10 CSO’s in India – Dr. Mohit Ramsinghani – Chief Sales Officer – Luxury – Shapoorji Pallonji Real Estate – Real Estate Thought Leader of the year 2022 – Shares his insights on India’s Residential Luxury Market.
Shapoorji Pallonji Real Estate appointed Dr. Mohit Ramsinghani as the Chief Sales Officer (CSO) designated for its Luxury Business. Mohit will be responsible for setting up Luxury Portfolio and ensuring the mobilization of the current set up of luxury assets.
Shapoorji Pallonji Real Estate is a well-regarded, reputed player in the Indian real estate sector owing to cutting-edge design innovation, construction quality and architectural excellence. Shapoorji Pallonji has created several landmarks across the country. They developed over 13 million sq. ft. of residential and 6 million sq. ft. of commercial properties.
During his 2 decades-long career, Dr. Mohit Ramsinghani has gained robust cross-industry expertise across Real Estate, Banking and Financial Services.
Dr. Mohit Ramsinghani is a Doctorate in Strategy with Management Degree from IIM Ahmedabad. In a career spanning 18 years, Mohit started as a Private Banker working with Banking giants like HSBC, Barclays, Indusind Bank and has spearheaded several profitable business models. In his previous assignments, he was at the helm of Radius Developers and Runwal Group and has managed previous assignments with revenue to the tune of 60 billion INR and Inventory worth 140 billion INR.
Dr. Mohit Ramsinghani is an incredible leader and has been honoured among the top 10 CSO’s in India by StartupLanes& is also India Property Awards Winner, Real Estate Thought Leader – 2022, India Property Awards, and International Brand Equity.
Dr. Mohit Ramsinghani states that it is an undeniable fact that the luxury real estate market has performed exceptionally well in recent years. Luxury condominiums, luxury housing and villa projects are on a selling spree in the country.
As per Dr. Mohit Ramsinghani, there was a time when owning a home was a necessity; today, the concept has changed to modern & luxury homes as a necessity. Buyers want to upgrade their living space with greener surroundings, best-in-class amenities, top-notch services, opulent interiors & larger spaces. People living in the gated community of premium housing are protected during the Covid pandemic.
This will become an essential requirement in future. The demand from top-level executives, business class, NRIs and HNIs is high, seeing the attractive price point levels; 2021-22 was the best year to buy a luxury home at the desired price. The escalation of prices of property is inevitable. One of the biggest reasons for an increase in prices is demand-supply gaps. The demand has constantly been rising while the supply has been minimal, adds Dr. Mohit Ramsinghani.
According to Dr Mohit Ramsinghani, “Dream big to be big in life” a common saying amongst today’s young population. Luxury housing is inspirational for today’s youth, who desire a house with the best amenities & ticket size of 5 to 10 crores, the most preferred ticket size in luxury residences.
Also, we have seen multiple high-end 50 crores plus ticket size transactions by CXO’s & Business Leaders to upgrade their homes & move to a much more advanced & world-class gated development, adds Dr. Mohit Ramsinghani.
“Luxury apartment communities are especially stepping up to bat in providing the most innovative and creative amenities to beat the competition down the street. Getting on board the best branded high-end on-site apartment restaurants is becoming increasingly popular, as they offer a convenient and luxury dining option for residents & also create a downtown living community. Concierge Services handle everything from chartering yachts to making airline, hotel and theatre reservations, private butler services, and exclusive private jet memberships. The owners also benefit from help with everyday tasks such as grocery shopping, dry-cleaning pick-up and in-home package delivery. Clubhouse, swimming pools & Spa services add the pampering to residents. Multiple zones like sports zone, arts & culture, kid’s zone, and garden zone create a complete gated community feeling with all the luxury amenities. Open to sky huge balconies & pools complete the feeling of staying in pampered luxury,’’ stated Dr. Mohit Ramsinghani.
Dr. Mohit Ramsinghani said, “With Indian Rupee being at its lowest, The NRI community has a unique advantage of converting their hard-earned foreign income into lucrative residential options in India’’. Due to the various relaxation of business establishment procedures and the ease of business, many foreign players and MNCs have been attracted to India. The expected rise in the number of HNI's and India's growing stature as an economic power promises much in the luxury product segment. Post the pandemic, the luxury housing market has reported significant traction; buyers respond favourably as sale prices have corrected, making real estate attractive, especially in the luxury segment. Customer confidence and market sentiments have been strengthened by a positive atmosphere and, most importantly, by acknowledging real estate assets as guarantors of a secured future. The tide has undoubtedly turned, and people are buying homes to stay in them and not only for investment.