July 18, 2024

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Oikoshreem is paving an easy way for homebuyers in India

A sweet home is everyone’s dream and people often hassle a lot for it. Everyone dreams of their own house, people work and save for years to construct their dream house. A house is like a representation of a person’s emotions and attachment to a place but with increasing rates and taxes this is getting difficult. But in all the hardship some companies are committing all their hard work to make this dream come true effortlessly for people.

One of such companies is Oikoshreem, it eliminates any hurdle present in transaction experience and becomes relevant in customized, responsive customer relationship handling and bringing hassle-free buying process automation to each buyer without charging any fee. Under the leadership of Saubhagya, Oikoshreem is performing well and has a large number of satisfied customers. The priority that his company gives to the customer makes it stand higher than others. Apart from hassle-free service, they offer health insurance on the sale of their products and have subsidized registry charges to women contributing to empowering women campaigns.

Managing a company is not everyone’s cup of tea, it needs perseverance, patience, merit, and focus. A man should instill such qualities in himself if he dreams to be big and Saubhagya does the same. Saubhagya Vardhan is the chairman and Managing director of Oikoshreem infra private limited. Saubhagya has completed his higher studies in London and as a young entrepreneur, he chooses to invest his time and knowledge in the real estate business. Before entering the business he researched a lot about it and carefully and patiently discovered his niche. He analyzed that the real estate business is expected to reach US$ 1 trillion by 2030 and it will contribute to 13% of the GDP by the year 2025. There’s a huge unorganized market worth 120 Bn $ in India where only large developers are present but no large distributors.

He realized that states like UP has still lacked professional real estate service firm of Global standard and it firmly adds value to the client investment portfolio

With each approaching step towards this business, He decided to start it from Lucknow as the city has the potential to attract home buyers from other districts due to rapid growth in Infrastructure. He and his team aim to tap the cash-intensive, unsegmented low-ticket size plot sale market and justify themselves as a proptech plot aggregator platform using technology and logistics on the scale. Saubhagya and his team started an international consultancy Oikoshreem with the approval of the Security and exchange board of India (SEBI) and Real estate Investment trust (REIT) which gives rights to all kinds of investors to invest in the Indian real estate market.

Oikoshreem markets cover a wide range from EWS to Middle-class luxury real estate. Currently, in Lucknow, their priority is volume distribution of low ticket size product sales while in primary markets of tier1 metro cities in India, they focus on selling luxury real estate to NRI clients and their existing privilege club of HNI’s clients.

Oikoshreem is a result of brilliant ideas that work strategically, In a pandemic when every sector is facing money issues, Oikoshreem is untouched by it. It depends on escrow accounts for revenue collection and in their plot segment and has immediate possession and an upfront payment system running. With good management and foreseeing policies, they manage it all smoothly. 

Saubhagya is the managing director of Oikoshreem and an excellent performer, his managing skills are advantageous for Oikoshreem. He has handled challenges well and even in the corona crisis he is handling everything appreciably. He follows his heart and his customer is always his priority. He firmly believes that patience and perseverance are two characteristics that every leader should possess. He is a reader and a learner who always craves knowledge. As a leader, he is optimistic toward the future but battles the hard days with ease.

The real estate business has been impacted badly due to Covid-19. The oversupply state even before the lockdown and condition has still not improved possibly it will see a decline of 3-5%. The regular construction supply chain is disrupted but with unlock, 5.0 conditions are improving. The critical labor shortage has decreased. 

The government is implementing different policies and decisions to revive the sector. Ministry of Housing & Urban affairs had already extended the deadline of projects by 6 months and further up to 3 months, RBI has given liquidity Investors to NBFCs so sustained cash credit line can be maintained but the Current situation makes investor nervous to invest right now into new commercial real estate deals and as the customers avoid going outside or investing in grand and luxurious real estate projects but Saubhgya believes that post-launch of vaccine, market confidence will be restored and investments cycle will be rejuvenated. These new trends are bringing new changes and challenges. Oikoshreem is adapting itself with the new trends, they can reach desperate buyers in immediate need of moving into their apartment but still, they can’t nullify the fact that big-ticket size units are harder to sell in the present market. Everybody wants to pay their EMI’s towards owned apartments rather than rent. This upgrading class of new homeowners is a strong hope for the industry. 

Real state is the key factor behind emerging markets and India is no exception in it and is looking for a fresh start in 2021. NRI investment in real estate in India is expected to increase exponentially due to reforms in the market because of COVID-19, home loans at lower rates, and increasing confidence of NRI buyers in India’s real estate. Real estate always goes through ups and downs. As per the notion of Saubhagya with the right checks and balances induced in the system to decrease the risk rate and make the system moderate, the future is favorable.

Government initiatives like REIT funds, etc., the sector will surely receive an FDI inflow. Saubhagya believes that the government must waive off stamp duty and registration charges to encourage more homebuyers as the Reduction of stamp duty charges is a key demand of several real estate bodies in the country. The government is emphasizing ‘Housing for all mission’ and nearly 40-45% of the new launches in the top seven cities are in the housing category. 

 As an organization, they have set high goals for themselves and are working vigorously to achieve it. Saubhagya believes that residential real estate will jump back to the heights when the economy will increase. Repo rate of 4.4. % is the lowest ever in the history of the last many years. If you consider Saubhagya’s opinions the special COVID packages for the buyers in the housing category will not have any immediate term impact as these homebuyers with limited income are most impacted, some of them are facing job loss and some pay cuts. So the majority of them will revisit their decision to purchase a house. Oikoshreem and other marketing companies will be benefited from the ongoing demand revival and consolidation in the industry. 

Oikoshreem is constant and master in its field and is serving the customers with full dedication and much growth and outcome are expected from such companies. They are believed to aid in the revival of the economy.