Builders should develop a brand with trust, good work and transparency which will help them in the long term to connect with buyers generation after generation, said Niranjan Hiranandani, co-founder and managing director of Hiranandani Group, on Friday.
Hiranandani was speaking in the Realtors Meet organised by dna. He shared his experience with the participants and asked them to emulate good and ethical practices that will help build a heritage. "We should not build our career or empire on lies. Unethical practice in real estate may help earn more money in a short period, but such a way makes us lose trust and bonding with people and society in the long term. We, as a part of society, should give back money, time or association. That will give us immense pleasure and satisfaction. Business developed on lies does not sustain for a long time. Besides, children emulate the same practice of duping people and that is not a sign of a good developer," he warned.
Hiranandani further said: "You may lose customers or clients but that number will be negligible. But the people you connect on the basis of trust and ethics will remain with you life-long. Thirty per cent of flats in my projects are sold to my existing customers. The reason is that they have trust on Hiranandani, and therefore, they recommend to their relatives and friends to invest money in Hiranandani. That is something we have to achieve over a period of time. If we have credibility in the market, then no one can stop us from prospering."
Addressing the gathering, renowned lawyer Parimal Shroff said developers should discharge their duty honestly. "Each one is here to make money, but there are certain ways to do it. By duping, misguiding, misinforming or cheating, developers may make money, but that money will not give them satisfaction because they have made the gullible buyer unhappy. Delaying registration is not a good practice. After sales is as important for the buyers; so, developers should hand over the project happily. Delay in handing over projects and flats causes several problems for buyers. So, it's better to avoid unethical practices for money. Developers should earn money with honesty following prescribed rules."
The realtors meet was attended several city based developers, consultants and brokers.
