As the Chairman of Neev Group, Chandulal Jain has acquired an esteemed and valued position in the realty business through his sheer grit and fortitude. He is venerated for his absolute dynamism and drive, which has led the company to acquire a formidable place in the real estate sector. Neev Group engages in the development of residential and commercial projects in and around Mumbai.
Steeping out of the cocoon
Before making a foray into the real estate sector, Mr Jain was engaged in the gold jewellery business. His cousin had repeatedly requested him to join his construction set up. According to Mr Jain, “I had no qualms about taking up challenges as I always believed in making a significant contribution to the society at large. Innumerable prospects of growth in the infrastructure segment influenced me to foray into this burgeoning segment. Furthermore, my interest in this sector was aggravated by the rising number of potential customers who demanded quality housing options at reasonable rates.”
With the help of his brother, Mr Jain established Neev Group in 1976. He managed to bag the first project, which was a slum redevelopment at Siddhartnagar near Government Colony Bandra (East). Eventually, Mr Jain took charge of the decision-making body of the organisation. After completing several construction projects across Mumbai, Mr Jain engaged himself in the first residential complex for the middle class population, which was built in 1981 at Bhayander.
Overcoming the uphill task
According to Mr Jain, “My greatest challenge was my lack of skill and knowledge; neither did I have any previous experience in the construction industry nor did I have any academic expertise from which I could obtain domain knowledge.”
During the initial years, he would work 18-20 hours a day at ground level to complete projects. Besides, he had to undertake supervisory tasks and administer projects while there was no one to extend managerial support. With a positive outlook and a resolute attitude, Mr Jain engaged himself in the administration and regulatory work with his first-hand experience.
He meticulously drafted all project protocol plans and made sure that there were multiple backup options to manage crisis. This helped him to surpass all the superficial variables that could have hit the company. It further assisted him to neutralise and control risk factors and maximise profitability while offering value to the customers.
Expanding the business
With close to three decades of experience, Mr Jain has successfully developed over 2.0 million sq. ft. of residential and commercial realty projects in the transportation, civil construction, social rehabilitation, education, infrastructure and healthcare sectors in and around Mumbai. The company has bagged various redevelopment, water supply, sewage and storm projects and has an additional 2.0 million sq. ft. of infrastructure project space currently under development.
Under Mr Jain’s able guidance, some of the key real estate projects in Mumbai that the company successfully completed are Darshan Heights, Shree Jayant Darshan, Ivory Tower, Darshan Pride, The Metropolis and over 100 infrastructure projects including the OPD building at the Nair Hospital.
Pipeline projects and future plans
A slum rehabilitation project sprawling over an area of 14 lakh sq ft in Mumbai is progressing at a swift pace. Mr Jain says, “The market is still open for those who are willing to work hard and take a fresh look at the downtrend. The infrastructure being the prime growth driver of Indian economy has always opened up new avenues of growth for those keen on adding value with minimum risk.”