As Vice Chairperson of Nahar Group and Senior Vice President of NAREDCO Maharashtra, Manju Yagnik has become one of the most influential voices in India’s real-estate transformation. Her work bridges the gap between business and policy—championing reforms that make development more transparent, efficient, and people-centric. Over the years she has helped Nahar Group evolve from a developer of premium residences into a brand that defines holistic urban living, rooted in design, sustainability, and community well-being.
In this conversation with Sourcing Hardware, Yagnik reflects on how consumer aspirations,
technology, workforce skills, and policy direction are together redefining what modern
Indian housing stands for.
Market Dynamics & Homebuyer Behaviour
Mumbai’s housing market has remained remarkably resilient over the past two years, even
amid rising input costs. Much of this strength comes from a clear shift in what buyers value. Today’s homebuyers are not just seeking square footage; they are looking for a lifestyle upgrade — homes that balance comfort, design, and wellness.
According to Knight Frank India, over 47,000 housing units were sold in Mumbai during the
first half of 2025, reflecting solid confidence among mid-premium and premium buyers. At
the same time, longer-tenure mortgages and flexible developer payment plans have made
higher-value homes more attainable, helping buyers manage EMIs despite inflationary
pressures.
At Nahar Group, we’ve always believed that a home should nurture both body and mind.
Our projects are designed around wellness and community — generous green spaces, high-
quality design, and amenities that promote healthy, balanced living. That philosophy
resonates strongly with today’s discerning buyers.
Policy, Regulation & Industry Confidence
One of the most meaningful policy interventions, in my view, would be to simplify and digitise the approval process. Multiple layers of clearance often delay projects and inflate
costs. A fully digital, single-window system with real-time tracking would make development faster, more predictable, and far more transparent.
Financial accountability is another cornerstone. Periodic audits and stricter disclosure norms
for large projects would ensure better fund utilisation and strengthen stakeholder
confidence.
Equally, technology has an important role to play. Adopting tools such as blockchain for
documentation and IoT for construction monitoring can bring unprecedented transparency
and efficiency. Finally, we must not overlook labour reforms — ensuring digital wage
records and stronger safety compliance can protect workers, minimise disruptions, and help
create a more ethical and investor-friendly industry.
Lifestyle Evolution & Location Preferences
Modern lifestyles are reshaping both how people live and where they choose to live. The
demand for convenience, greenery, and wellness has become universal — even among
those seeking compact or work-from-home-friendly spaces. Buyers now want
neighbourhoods that combine connectivity with calm, and homes that foster community as
much as privacy.
At Nahar Group, we’ve long believed that nature and design must coexist. Every project we
develop is planned around trees, gardens, and natural ecosystems. Our Nahar Amrit Shakti
Udyan is a good example — we used the Miyawaki forest technique to create dense native
green zones right within the community. It has transformed the experience of city living,
offering cleaner air and a sense of tranquillity that residents truly cherish.
I believe the future of urban housing will be defined by nature-integrated, wellness-centric
communities that make everyday living more fulfilling.
Skilled Workforce & Industry Collaboration
The shortage of skilled workers across key trades — from formwork and finishing to
waterproofing, electrical, and carpentry — is one of the biggest challenges the construction
industry faces today. Without addressing this, it’s impossible to achieve both speed and
quality in delivery.
We need structured skilling programmes that blend classroom learning with on-site
application. Here, collaboration between developers and material manufacturers can make
a real difference. When suppliers share technical know-how and developers provide training
environments, we create a loop of knowledge that benefits everyone — better
craftsmanship, safer sites, and higher-quality outcomes.
Ultimately, skilling is not just an operational need; it’s an investment in people. A stronger,
better-trained workforce will lift the entire industry and ensure that India’s construction
story continues to be one of quality and innovation.
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