WTF is with Nikhil Kamath

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Ep. #20 | WTF are Indian Real Estate Giants Up To? Nikhil ft. Irfan, Nirupa, & Karan

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Oct 12, 2024

In this insightful discussion, Irfan Razack, chairman of Prestige Group, Nirupa Shankar, executive director at Brigade Group, and Karan Virwani, CEO of WeWork India, delve into the evolving landscape of Indian real estate. They explore the shift from traditional practices to innovative models, emphasizing the impact of modern regulations like RERA. The trio discusses the balance between passion and legacy in family businesses, the rise of REITs, and the future of mixed-use developments in urban planning, all while sharing personal anecdotes from their journeys.

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insights

INSIGHT

Generational Strengths

Prior generations had greater risk-taking ability, crucial for starting real estate companies.
The current generation, however, excels at scaling existing foundations.

question_answer

ANECDOTE

Passion as a Luxury

Nirupa Shankar's father viewed passion as a luxury, prioritizing hard work and perseverance.
He believes passion develops after witnessing success, not before.

insights

INSIGHT

Unwavering Belief in Real Estate

Real estate developers often possess a strong belief that property prices will never decline.
This conviction stems from factors like limited supply and increasing demand.

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Reflections on Bangalore's Evolution and Personal Journeys

01:30 • 2min

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From Coffee Plantations to Real Estate: A Family's Journey

03:08 • 3min

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Evolution of Real Estate in Bangalore

05:39 • 17min

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The Dynamics of Minority Influence in Decision-Making

22:50 • 2min

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Generational Perspectives on Real Estate Entrepreneurship

25:01 • 2min

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Passion vs. Legacy in Real Estate

26:39 • 12min

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Evolving Real Estate Dynamics in India

38:30 • 16min

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Navigating India's Real Estate Landscape

54:26 • 13min

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Innovative Retail Leasing: The Success of Lightstore

01:07:41 • 2min

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Navigating India's Real Estate Landscape

01:09:17 • 13min

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The Rise of REITs in India

01:21:51 • 12min

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Evolving Real Estate Paradigms in India

01:34:00 • 19min

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Evolving Spaces: The Future of Home Design

01:53:00 • 15min

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Triathlons and Personal Journeys

02:07:31 • 3min

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Balancing Ambition and Personal Fulfillment

02:10:43 • 3min

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Evolution of Malls and Multiplexes in India

02:13:35 • 9min

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The Future of Urban Planning: Embracing Mixed-Use Developments

02:22:51 • 2min

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From Bangalore to Brigade Reap

02:24:26 • 8min

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Nostalgia and Traditions: Childhood Memories in Bangalore

02:32:04 • 2min

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From Childhood Dreams to Business Reality

02:33:36 • 3min

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Innovating Hospitality: The Rise of Co-Working in Bangalore

02:37:04 • 15min

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Real Estate Dynamics: India vs. USA

02:52:03 • 7min

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The Future of Office Spaces and Prefab Construction in India

02:59:31 • 2min

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Evolving Dynamics of Indian Real Estate

03:01:10 • 15min

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#32380

• Mentioned in 2 episodes

At Home

Bill Bryson

In 'At Home: A Short History of Private Life', Bill Bryson delves into the history of domestic life by exploring each room in his 19th-century Norfolk rectory. The book covers a wide range of topics, from architecture and technology to social history and cultural influences, providing a fascinating narrative of how homes have evolved over time. Bryson's engaging storytelling weaves together anecdotes and historical insights to create a compelling portrait of private life.

There seems to be a preconceived bias about the real estate ecosystem in India. With this episode, we aim to dive into the nuances that explain the complexities of the business.

And who better to explain it than Irfan Razack from Prestige Group, Nirupa Shankar from Brigade Group, and Karan Virwani from WeWork & Embassy. We deep dive into family businesses, passion versus wealth, new-age real estate, and much more.

For those who know me, I’m not the biggest fan of real estate (as an asset class), but I may also not know enough. This episode will give you insight into what really happens in the world’s biggest asset class.

#NikhilKamath Co-founder of Zerodha, True Beacon and Gruhas

Twitter: https://x.com/nikhilkamathcio/

Instagram: https://www.instagram.com/nikhilkamathcio/

LinkedIn: https://www.linkedin.com/in/nikhilkamathcio?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

Facebook: https://www.facebook.com/nikhilkamathcio/

#IrfanRazack Chairman & MD of Prestige Group

Instagram: https://www.instagram.com/irfanfalcon/?hl=en

LinkedIn: https://www.linkedin.com/in/irfan-razack-844a78114/?

#NirupaShankar Executive Director at Brigade Group

Instagram: https://www.instagram.com/nirupa.shankar/?hl=en

LinkedIn: https://www.linkedin.com/in/nirupa-shankar-1309371/?

#KaranVirwani CEO of WeWork India

Twitter: https://x.com/karan_virwani10

Instagram: https://www.instagram.com/karanvirwani/?hl=en

LinkedIn: https://www.linkedin.com/in/karanvirwani/?

Timestamps -

00:00:00 Intro

00:01:02 Irfan Razack's Intro

00:03:38 Why did Irfan start a real estate company

00:06:15 What defines the Value of Land : FSI, Laws and more

00:09:35 What is Joint Development

00:11:10 Guidance for Growth in Real Estate

00:17:09 Managing a Family Business

00:22:58 What's the Minority Rule

00:25:01 Is passion overrated ?

00:34:25 Building Wework

00:38:31 What's happening in Indian Real Estate

00:47:39 Is Real Estate Pricey now?

00:53:26 How to get into Real Estate Now

00:57:57 Careers in Real Estate

00:58:38 Step by Step guide to start a Career in Real Estate

01:04:31 How to get the highest return on real estate

01:07:40 LiteStore and their unique concept

01:09:01 Affordable or Luxury Housing

01:12:12 Renting,Buying,Flipping Houses

01:16:31 Land Prices Then vs Now

01:21:51 What is a REIT ?

01:25:12 Benefits if REITs

01:27:39 India's 4 Listed REITs

01:31:19 What's Strata

01:33:12 Commercial Real Estate Experience

01:35:54 Selling an Experience

01:40:20 World Trade Center | The Office Experience

01:43:26 Real Estate is a Regional Game | Cluster Cities

01:46:30 What is Redevelopment?

01:50:49 Two Real Estate rules that can be changed in Karnataka

01:53:02 Innovation in Real Estate

01:58:49 Real Estate Perspectives | Working with Adam Neuman

02:03:58 Nirupa and her Sister

02:05:04 Gender roles in Real Estate | Balancing Personal Life

02:07:29 Nirupa and Sports

02:10:52 Nirupa's Dreams and Ambitions

02:14:04 Essentials of a Mall: Financials, Creativity & more

02:22:54 What made Brigade Group build a Mall

02:24:30 Food Break

02:24:59 Nirupa Shankar's Intro

02:32:04 Karan Virwani's Intro

02:37:06 Karan: We Work & Embassy in India

02:44:03 How to start a Co Working Space

02:48:09 What's the ROI on Commercial Properties

02:49:44 How Important is Building Relationships in Real Estate?

02:52:05 Is Building Relationships with Politicians Important?

02:52:34 Will Real Estate Be a Monopoly in the Future?

02:54:59 Future of the Commercial Real Estate Culture

02:59:48 Pre Fabricated Real Estate | Black Money in Real Estate

03:02:28 Opportunity in Senior Living

03:04:07 Jobs Opportunities in Real Estate

03:07:23 AI in Real Estate

03:10:16 Services that Real Estate Companies Outsource

03:11:19 Outro

03:11:37 What Kind of Marketing helps in Selling Real Estate

03:13:46 What are GCC's

#nikhilkamath #WTFiswithNikhilKamath

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