The real estate market is coming out of the woods; the kitchen industry must seize the opportunity and leverage technology to meet the potential demand
The real growth driver for the kitchen and cabinetry industry is real estate. Santosh Kumar, vice chairman at Anarock did the ‘realty’ check and brought the much-needed smile to the faces of industry leaders.
In his presentation – Realty Report: Where’s the Market – Kumar made it clear that the real estate market is coming out of the woods; with government initiatives such as IBC and RERA, and the focus on affordable housing, the industry will be seeing a lot of traction.
“This development bodes well for the kitchen industry,” he said, adding that these developments would allow players to focus on and set foot in tier II and tier III cities. He highlighted that when it comes to the residential segment, the budget – affordable and mid-segment – segment is the most dominant and over 7.5 lakh units will be completed in the next two years. “This indicates significant demand for modular kitchens, bathroom fittings, tiles, air-conditioners, lighting and home automation systems, etc. In effect, it is time for organised players in the kitchen and building products industry to redraw their production as well as distribution and retail strategies.”