In an exclusive interview with Entrepreneur First Magazine, Rajan Thakral, co-founder of Zenith Associates, shares his journey from a business family background to revolutionizing the real estate sector. With unwavering commitment, he envisions a multinational real estate giant and offers insights on the commercial vs. residential investment debate and the transformative influence of RERA
1. What inspired you to venture into your own business? What are your principle roles and responsibilities as the company’s founder?
Coming from a business family, there was no other option or need for inspiration. I always knew that I would venture into my own business and work for myself. This particular business was started 3 years ago, it is still a startup. As the founder of this startup, I think my most important responsibility is to keep the company afloat. Now I think I am reaching a stage where I can pass on these responsibilities to my team.
2. How do you distinguish yourself from others in your field? What principles and work ethics set you apart from other people in your industry?
I am one of a kind. I have even sold real estate at every minute of the clock. I live, breathe, and eat real estate. I think what sets me apart is how seriously I have taken this, including the pieces of training that were available to me in different countries. Training makes me and our company vastly different from what is available in India. I still work on the basic principles because most people start to forget them after working for 20-25 years. Like a cricket match, you have to stay in the game, keep taking singles, and wait for the ball with which you score, meaning if you’re selling property and making 50 thousand or 1 lakh rupees commission, you have to keep doing it. After a certain time, people forget that and just want to make big money. It isn’t about big money, it’s simply about numbers. The basic principle for any business is to keep going and respecting every transaction, no matter how small.
3. What is the goal of your company and you as an individual and how do you intend to achieve it?
We have a simple goal – to create a multi-national real estate company based in Noida, and we want to be visible across the globe. In the past 3 years, we have grown from where we started at about 25x, and in the future, we strive for consistent growth at 10x every coming year now. We intend to do so, not just through sales but through investments and property management as well.
4. According to you which is a better investment Commercial or Residential?
In my view, the debate between investing in commercial and residential properties is certainly a matter of perspective. Speaking from my standpoint, I find myself leaning towards the potential of commercial investments over residential ones. While I acknowledge that residential properties tend to be a popular choice for investment in India due to the prevalent market for apartments, I firmly believe that when it comes to placing your hard-earned money into an investment, commercial properties hold a stronger appeal.
Residential properties undeniably serve as places to live, but they do come with certain limitations. Over time, these properties can deteriorate, and their long-term sustainability might be constrained. On the flip side, commercial properties offer an alternative that comes with a host of benefits. The monthly returns and commercial yields that they bring can be quite appealing, and what’s more, these returns tend to grow over time. It’s like an investment that matures gracefully with the passing of time, rather than losing its value.
So, from where I stand, my vote goes decidedly to commercial investments over residential ones. The potential for consistent growth and the long-term sustainability that commercial properties can offer align more closely with my investment philosophy.
5. Do you think that RERA has made your work easier or more complicated? What changes has RERA made since the time it has come into existence?
RERA has made our work easier, it has had a very good impact on the real estate market across India. The market has become aware of everyone – the builders, and the brokers, the market knows the rules and regulations put in place by RERA and people follow these rules as well. The market is becoming really mature, compared to 10 years back when it was very different and included many wrongdoings without RERA. Now some policing is happening and it’s more organized. It will only get better from here.
