Pankaj Bajaj is the Promoter and Managing Director of Real Estate Development firms Eldeco Infrastructure and Properties Ltd (EIPL) and Eldeco Housing and Industries Ltd (EHIL). He embarked on his real estate journey in 1996, and since then he has established Eldeco Group as a leading Real Estate Development Company in India.
Eldeco MD, Pankaj Bajaj is a Bachelor of Commerce (B.Com) from Shri Ram College of Commerce, Delhi University and subsequently did his MBA from Indian Institute of Management, Ahmedabad. After graduating from IIM-A, Pankaj Bajaj had a brief stint as a management consultant where he advised MNC’s on Go to Market Strategies for Indian Market. Pankaj Bajaj, M.D Eldeco Group accords the success story of Eldeco Group to the fact that it has always adhered to its brand ethos of timely delivery, new innovations, relentless customer focus and highest degree of trust and transparency. He believes that now the Real Estate sector has largely stabilized after years of consolidation and the time is rife for Real Estate industry to focus on evolving customer needs like:
- Green Homes that are built using technologies that are environment-friendly and sustainable.
- Tech-driven Integrated Smart Cities where utilities like energy, lighting, communications, and security are automated.
- Rise of Co-working spaces as a concept which has been largely driven by rise of start-up culture and is going to be a tremendous boost for commercial real estate.
Under his stewardship, Eldeco Group has expanded to all leading cities in North India and has delivered large scale Integrated Townships and Industrial Parks across NCR, Uttar Pradesh, Haryana, Punjab, Uttarakhand, and Rajasthan. He has been successful in establishing Eldeco as a brand that is synonymous with many new market innovations like
- Introduction of Integrated Townships in the late 90’s and early 2000’s.
- Foray into Large Scale Industrial parks by leveraging PPP model and FDI Partnerships.
- Mid Income and Aspirational Housing Projects in the NCR and other key North India Markets.
In the aftermath of the global financial crisis, Eldeco was only one of the few developers that had ensured timely delivery of its Projects. Currently Eldeco MD Pankaj Bajaj is also the President of the Confederation of Real Estate Developers Association of India (CREDAI- NCR). In light of the downturn in the markets and consolidation in the industry, Eldeco has embarked on a fresh wave of expansion in the cities of its operation.
Pankaj Bajaj Eldeco on the New Land Acquisition Bill (2013)
Pankaj Bajaj Eldeco, on addressing the new Land Acquisition Bill Amendment (2013) and R&R provisions (Rehabilitation and Resettlement Act) said that the entire land acquisition process for real estate development has become quite expensive and time-consuming. He claimed that the new act primarily focuses on only one section of society, that is, the farmers; which cannot be termed as holistic development of the country. Projects and promises such as smart cities and urban townships then come out as far-fetched dreams. Yet it cannot be denied that the new Land Acquisition Bill Amendment would definitely provide much transparency in land consumption. Pankaj Bajaj Eldeco also supports open market transactions but believes that farmers are also willing to sell land on their own accord and it’s not always forced as generally portrayed by the general media.
Pankaj Bajaj Eldeco as CREDAI-NCR President
Pankaj Bajaj’s sincere efforts and remarkable work in the real estate sector got an outstanding acknowledgment when he was elected as the President of CREDAI-NCR (Confederation of Real Estate Developers Association of India) in 2011, replacing Mr. Manoj Gaur (Managing Director, Gaursons). CREDAI is the body of private real estate developers representing 11,940 members, spread across 23 state-level chapters and 177 cities in India. The CREDAI India has initiated two enterprises on a code of conduct and consumer redressal forum to ensure transparency and ethical business practices among builders of India.
Affordable housing has been especially prompted by the joint initiatives of CREDAI and the government of India. The association seems to be quite certain that 80,000 apartments would be delivered by March, as promised by the Government of India. President-NCR Pankaj Bajaj Eldeco and CREDAI have worked towards affordable housing and welfare of their buyers in accord with the Central Government.
Pankaj Bajaj and Eldeco Group
Mr. S.K. Garg is the Chairman of the Eldeco Group and Pankaj Bajaj is the Managing Director.
Pankaj Bajaj represents the forthrightness of Eldeco Group and has a recommendable experience and expertise of the modern consumer and market both. He believes that the country needs an implementation of modern technology and world-class construction practices to achieve the target of affordable housing for all. Pankaj Bajaj Eldeco accords that the new technology would accrue to the benefit of the general public at large and would also make the target of affordable housing in the country much more achievable. It requires less time and the homes built are of the utmost quality as well. Eldeco MD Pankaj Bajaj claims that now that the finances are queuing up in the market, it’s of utmost importance to overcome the bottleneck of land acquisition and adhere to modern world class techniques and practices of construction in the country to make affordable housing for everyone a possibility in hand and not just a far-fetched dream.
Pankaj Bajaj Eldeco accords that choosing a developer well should be the cardinal rule for buying homes. Buyers shouldn’t get attracted by extravagant advertisements merely and investigating the developer and the project is the right way to go when buying a home. A good developer would always opt for customer benefits and also address transparency in his buyer relationships.
Real estate sector has shown notable progress in smaller cities and towns as well, owing to the improved standards of living and higher income level. Eldeco group is the one name in the real estate sector of India that has been widely recognised by various developers and foreign investors. In the year 2000, a subgroup of Eldeco was founded by Pankaj Bajaj, Eldeco Infrastructure and Properties Ltd (EIPL) and handles a large number of projects in various regions of India and raised it to a recognised real estate brand in the country. Pankaj Bajaj Eldeco is the sole owner of EIPL.
Eldeco Housing and Industries is listed on the Bombay stock exchange, which is a source of local pride. The group is advancing rapidly and its progress is marking up a high success rate. The wide development of Eldeco city that spreads over hundred and thirteen acres in which a large portion is dedicated to greenery and consists more than a thousand villas and about one thousand five hundred apartments are considered to be a marking an evolutionary change in the world of real estate.
EIPL has expanded its territories into the township formats as well and focuses on the execution of large-scale projects. It’s the market leader in Uttar Pradesh. Eldeco Group excels in the fields of infrastructure due to their timely delivery and an understanding of the modern consumer. Pankaj Bajaj Eldeco represents the integrity of the Eldeco Group. His expertise and strategies have raised the company as the national brand in the real estate sector. He started his actions from Agra and then expanded his development projects all across North India in an advanced way especially.
Mr. Bajaj considers building homes as a labour of love; sometimes frustrating yet satisfying. Eldeco prides of its consistency in the real estate industry as a marketing leader.
Eldeco Group has come up with its new prestigious residential projects, Eldeco Inspire, loaded with world class amenities like sauna and jacuzzi, with open as well as covered car parking, swimming pool, gym etc. at a reasonable price.
Eldeco MD Pankaj Bajaj On RERA
Pankaj Bajaj Eldeco also supported the coming of the RERA Bill in the real estate sector, as it will be very proficient in abstracting the authentic players from the defaulters. Mr. Bajaj believes that RERA does have some teething issues that need to be addressed but it is in motion now and over a period of time things would settle down for the benefit of the real estate industry as well as for the buyers.
Pankaj Bajaj Eldeco on Affordable Housing
The affordable housing market is evolving rapidly in India. Hence, it’s of paramount importance to address this sector as well. Pankaj Bajaj has remarked on the issue on various occasions and interviews and debates as well. He said that in Uttar Pradesh, in particular, there is a plan for 5-Lakh affordable houses in the next two years and thus there will be a lot of development to watch. India is a young, developing nation and the need for housing is huge. He has appreciated the efforts of the state government to ensure deliveries to the home buyers. Eldeco MD Pankaj Bajaj believes that though the housing sector has suffered a bit and the present of the real estate sector is not great but the future is much better. The demand has not evaporated and housing is much required in urban India. He also commented on the dichotomy present in the affordable housing. He says building cheap houses on outskirts of cities is not affordable housing.
Housing for All by 2022: Will benefit families of credit link subsidy Says Eldeco MD Pankaj Bajaj
The Indian Realty Market is in a celebration phase now since the declaration of Housing For All by 2022 scheme was announced ahead of Prime Ministers’ Awas Yojana. Moreover, the scheme comes with a set of new amendments one of them being most acknowledging in nature is that the younger adults coming from a low-income urban family are now introduced in the policy as a new home buyer. Not just that, they are now considered to be the potential homebuyers who will be given preference to buy a home under the scheme.
Apart from getting close to be able to be a rightful contestant in the Housing For All by 2022 scheme the good news that’s announced to these young set of home buyers is that they can now get loans at lower rates from the banks under the ‘Housing For All by 2022’ scheme, the government, for now, suggests thinks that this move may now be able to boost the demand for the affordable housing a scheme that was announced earlier this year.
It should be known that the scheme for affordable housing has existed earlier too. In its old phase, the scheme only used to allow interest benefits for only one house each for a family that comprises of a couple and children who are unmarried.
“The change will allow more families to get the benefit of credit-linked subsidy and can boost construction of affordable homes,” said Pankaj Bajaj Eldeco. It can increase the size of the market manifold, he said.
According to the notification released in the scheme, it is suggested in the scheme that now on any young earning member, either married or single will be treated as a separate family on its own permitting them to contest for the house buying. Another major condition that stands in the way to make them a contestant as per the suggested amendments to the PMAY by the Ministry of Housing and Urban Poverty Alleviation is that they shouldn’t be an owner of a pucca house.