Mohit Goel, CEO, Omaxe Ltd, lays down his pre-budget expectations forward!

Mohit goel has said that even though there are a number of positive announcements made in the recent interim budget, he can witness significant improvement in certain macroeconomic indicators which have brought the inflation down whilst pushing down the overall industrial growth.

Moreover, Mohit goel places big expectations with the coming budget whilst saying that the surrounding favorable policy changes can trigger the improvement in the surrounded business environment whilst pushing an overall growth. Mohit goel further said that the government must start thinking about the promised Smart Cities and the Budget must bring all the required provisions in the same regards. While we are still indulged in all those irrelevant issues around, countries like US, Singapore etc are showing some great support and assistance to their upcoming Smart cities and further bringing a lot more opportunities for all of their private real estate developers. Mohit goel said that the Indian government needs to stay a bit soft on the FDI front for construction and affordable housing domains .As per Mohit goel, the government must introduce a bill to bring along a tax benefit under section 80 IB (10) of the Income Tax Act and this will further help in fulfilling the supply gap and further fulfilling the vision of “Housing for all” by 2022.

This benefit would then bring all the benefits and advantages to the Smart Cities, affordable housing and re-development process in the urban areas. Mohit goel also quoted that the real estate sector is now looking forward to get their long awaited demand of improved infrastructure realized. This is something which will help the real estate sector to gain access to all the easy financing options around. Moreover, a transparent window clearance mechanism is immediately required whilst the project implementation is quite crucial to boost the overall investment and growth within the country.

Mohit Goel further confirms that GST comes on board as one of the most important tax regimen system and will come over with some great benefits to the Indian economy in the coming days. On the other side, bringing real estate in GST bracket needs to be brought forward in a holistic view and this will further bring in a lot of transparency in the same sector. Taxes bring upon some of the major parts of a property purchase and this is where they have to be rationalized.

Realty firm Omaxe’s CEO Mohit Goel forays into e-commerce, invests $1 million on Supplified.com

NEW DELHI: Realty firm Omaxe’s promoter and CEO Mohit Goel has started an e-commerce portal, Supplified.com, in his personal capacity to market construction materials and will invest USD 1 million as seed funding. Supplified.com, founded by Mohit Goel along with SPR Buildtech Director Nalin Saluja, started its operations a few months ago aiming to tap huge opportunity in the unorganised construction materials market.

On this portal, Supplified sells raw material as well as finished goods ranging from cement, steel, doors, paints, water purifiers, tiles, building cleaning and maintenance supplies, plants and home decor, among others. Supplified is currently catering to the Delhi-NCR market and achieved a monthly sale of Rs 50 lakh last month.

We have been operating in Delhi NCR markets for the last few months and the initial response that we have received is very encouraging. Hence, we are now entering two new cities — Chandigarh and Ludhiana,” Mohit Goel said, adding that these cities are good markets from the realty and construction point of view.

The online marketplace registered sales of Rs 5 lakh in November, Rs 11 lakh in December, Rs 22 lakh in January and Rs 50 lakh in February, Goel said.

“We are looking to expand to 10 cities and achieve total sales of Rs 10 crore per month within next 6 months,” he added. Asked about the investment in this venture, Goel said “founders are bootstrapping this start-up with their own fund of one million dollar”. Supplified.com aims to solve complete procurement problems of both retail buyers as well as SME contractors and builders. Besides Supplified, there are some other players in the segment.

In January this year, home construction and renovation marketplace Buildzar.com has raised USD 4 million (about Rs 27.22 crore) from Dalmia Cement Bharat MD Puneet Dalmia in pre-Series A funding.

Created by Economic Times of India

Mohit Goel, Chief Executive Officer, Omaxe Ltd

Mohit Goel, Chief Executive Officer, Omaxe Ltd has made huge systemic changes in Omaxe since the time he took over. Mohit Goel has worked through the ranks; joining the company as an Executive, he gained the relevant grassroot experience in various aspects of real estate business, like construction, sales & marketing, business development etc. This has enabled him to make quick decisions, an important trait of an effective leader. Leading from the front, Mohit Goel is leading the company through the growth phases.

Omaxe Ltd is one of India’s leading real estate companies. With presence in 8 States across 27 cities, the company has in its kitty a diversified portfolio that includes Integrated Townships, Hi-Tech Townships, Group Housing, Shopping Malls, Office Spaces, SCOs and Hotel. With approx. 95 million sq. ft. of delivered space in both real estate and construction contracting, the company is currently undertaking 39 real estate projects – 13 Group Housing, 16 Townships, 10 Commercial Malls/office spaces/Hotels/ SCOs. True to its motto, “Turning Dreams into Reality”, Omaxe stands tall on the foundation of its values — values of delivering quality and excellent real estate spaces, ensuring customer satisfaction, and redefining lifestyle.

Replying to Yash Ved of IIFL, Mohit Goel says “The total area under development stands at 74 million sq. ft. spread across 27 cities and 8 States like UP, MP, Haryana, Rajasthan, Himachal Pradesh, Delhi, Uttarakhand and Punjab.”