JSW One Homes, home construction solutions arm of JSW One Platforms, is planning to strengthen its retail network in the South and in Maharashtra with 25 Homes Studios by March 23, according to CEO Gaurav Sachdeva.
“Currently, we are present in Coimbatore, Bengaluru and Chennai, and have two Homes Studios in Tamil Nadu. We will be entering six more cities before the end of this fiscal,” Mr. Sachdeva said in an interview.
According to him, Homes Studios will serve as a full-service emporium for all the home construction requirements for customers planning to build their own house. It is an ideal place to turn dream of a home into a reality. Currently, 80 home are being constructed in the South.
JSW One Homes entered the Tamil Nadu market in December 2021 by opening its first Homes Studio in Coimbatore. The second one in the State and the first in Chennai was opened on Friday.
“In the last six months of commencing operations in Tamil Nadu, we have received more than 300 enquiries for home construction projects in Chennai. Hence, it is an organic choice for us to set up our studio in Chennai. We expect Chennai market to be a significant contributor to our consolidated order book in Tamil Nadu,” Mr. Sachdeva said.
He said consequent to the pandemic, there had been a shift in the home-buying behaviour of customers, who preferred ‘quality houses’ to apartments.
He also quoted trade estimates and said the share of high-rise buildings had shrunk to 10% in 2021 from 22% in 2019. There had been an increased demand for plotted land and independent homes in Chennai.
“This provides JSW One Homes an opportunity to capitalise on this demand to potentially corner over 1% market share and an order book of ₹600 crore from Tamil Nadu,” he said.
JSW One Homes would be entering Hyderabad, Tiruchi, Salem, Mysuru, Vizag, Kochi and Maharashtra before March 23.
