Marketing whiz Ganesh Mahalingam, former Vice President (Marketing), LG, has recently shifted from consumer durables to real estate business, joining Omaxe Construction as Executive Director, Marketing.
The changeover from consumer durables to real estate, in his words, is a shift from marketing consumer durables worth Rs 4,000-4,00,000 to life-long durables valued at Rs 2,50,000 to Rs 3 crore. “The latter is more challenging as housing happens to be a life-time investment as compared to consumer durables whose life span is not more than a decade,” Mahalingam responded.
Omaxe is planning 700 new townships across the country in the coming five years. “These townships will be of world class and will be a unique model in the country. As far as the current fiscal is concerned, almost 20 new townships will be built across India,” he said.
However, referring to the issue why real estate business was yet to establish itself as a distinguished brand in the country, Mahalingam said: “Creating Omaxe as a distinguished real estate brand in the coming years is one of my prime motives.”
Elaborating further about his new experience, Mahalingam points out that Omaxe has recently completed the NRI City at Greater Noida. “Real Estate at present is a sunrise sector witnessing an annual growth of over 15 per cent. Hence the future has lots of challenges in store,” he observed.