Grihapravesh-Radius’s M2M technology transforms the consumer’s home and lifestyle besides saving on precious energy.
In our ever-changing hi-tech world it seems everyone is turning to “smart” technology. It may well start from the phone and tablet you carry in your pocket to controlling your home’s heating and air conditioning while away on vacation on a tropical beach, smart technology is simply everywhere. Whether you are looking to save energy, time, and money, or you just want to become more efficient in your home’s day-to-day operations, Grihapravesh-Buildteck’s idea may transform your home and lifestyle forever.
For the first time in real estate industry history, realty major Grihapravesh Buildteck is bringing energy-efficient technologies — machine-to-machine (M2M) — for consumers who can save energy in their respective houses. Last month, the company announced a tie-up with technology firm Radius Group for providing energy efficient devices in its housing project at Noida, which is being developed at a cost of `280 crore.
“There are certain things which only the developer can provide to its customers such as the structure which individuals have no control over, it is entirely up to the builder to provide the good quality structure. Similarly, we are the one who is providing the backbone that would equip all the flats to go for smart homes and other customised services,” Grihapravesh chairman and managing director (CMD) Abhay Kumar told Realty & More.
Mumbai-based Grihapravesh Buildteck is developing its first housing project in the NCR comprising 500 units. “We have collaborated with Radius to provide us with world class energy efficient technologies. This will benefit our customers as they will get itemised bill for the electricity consumed,” Kumar said.
Gurgaon-based Radius Group is a technology firm involved in design, supply and operation of technology solutions in the areas of smart metering, advanced metering infrastructure and home energy management. Asked why Grihapravesh was chosen to use the
technology, Radius Synergies managing director HS Singh said: “As an infrastructure enabler, our mission is to enhance access to trouble-free infrastructure by blending technology with experience and expertise. We chose Grihapravesh because we have seen the potential in the company which can carry forward our technology to a greater length.”
Grihapravesh-Buildteck had launched the project in 2011 and the construction is expected to complete next year. Asked about the investment in the Noida project, Kumar said it would be about `280 crore including the land and construction. “We have already invested around `175 crore in this project which has sold out about 70 per cent so far,” he said, adding that flats are being sold in a price range of `60 lakh to `2 crore. Elaborating on the partnership, Kumar said the company would be able to offer a complete energy management of the home to the buyers through this tie-up. This would cost the company an additional `5 crore.
“We are implementing M2M at the moment and would even like to upgrade it in all our future projects in different parts of India. We are looking to provide the best second homes to people residing in NCR. The project would be launched in an area surrounded by all things natural and it should also be close to a water body,” Kumar said.
As of now, the company is focusing only on residential projects. There are no fixed plans for residential or commercial projects. “We have got sufficient land bank and ours is a zero-debt company, so depending on the market forces we can launch residential or commercial projects. Right now, there is a general slowdown and in such condition we would like to take a calculated risk only as far as the nature of the projects are concerned,” he said.
“As the punch line of Grihapravesh says ‘a quiet revolution……’, it’s a revolution for the customers. We would pass only a marginal cost to the customers, rest all will be paid by the company. We believe in the best offerings and people really have the appetite to pay if it actually takes care of their ‘wants’. Such offerings can give us the edge over typical brick and mortar projects and the balance inventories can be sold at a premium which would be more than enough to take care of such expenses,” Kumar adds.