A gift from generation to generation

Our family business of woolen garments in Ludhiana has flourished for decades. Since independence, we have grown multifold and constructed a vast client base all over the globe. We work with some of the leading retail brands in the world. In 2020, our exports plummeted as the businesses and economies across the world grappled with the pandemic. My grandmother used to say, a setback is an opportunity for a step-up. Due to obstacles and roadblocks, one is forced to explore and innovate and search for avenues one has never seen before. Without innovation, we would still be cave-dwelling apes. I owe my indestructible optimism to my late grandmother, and it is with this positivity I have pushed through barriers and broken the glass ceilings all my life.

There is a lesson even in the bleakest of times. As the wool factory shut down for almost a year and the exports put on hold indefinitely, I looked for a strategy to sustain and flourish. The pandemic has made me realize that it is only wise to diversify one’s investments. As the old adage goes—don’t put all your eggs in one basket—I searched for smart investment opportunities. Apart from picking value equities from the crashed market in the first half of 2020, I reshuffled my financial portfolio to balance debt, equity, and assets.

I have been observing the rise of spending in India for a few years now. Even though the economic power is currently more or less curbed, there are signs and portents of a remarkable economic recovery in the coming decade. Of one thing I am sure, when the world bounces back, it will celebrate life. With the impermanence of life thrust onto our faces, we want to invest in things and causes that make us happy. My grandmother also used to say that people will spend on anything that makes them feel good. We have seen the rise in the culture of dining out, shopping, and traveling in the general Indian population. Living well is the zeitgeist!

So, I was looking for commercial properties to invest in. My motivations were not just the lease income and rental yield but also hassle-free dealings. Unlike residential properties, in a commercial one, the owner need not be too involved. The brands that lease the properties are there for the long term, and because the space is synonymous with the brand image, they maintain the space very well.

The real estate market in Ludhiana has skyrocketed in the last decade. But I was looking for value. Chandigarh, too, was saturated and expensive. However, the tri-city area interested me. It has excellent growth potential, and compared to the main city, the real estate is still reasonably priced.

In February this year, when I was driving to the airport from Chandigarh, the developing area of Zirakpur caught my attention. It had been here all this while, and I hadn’t even considered it. I did some research and understood that Zirakpur is a fast-developing area and has increasingly become a popular choice for MNCs and brands. The city with highest retail consumption of North India and home to many international brands like McDonalds, KFC, 3 D Marts, Starbucks Metro and more. I came across a commercial project—Sushma Capital—by a very reputed developer, Sushma Group. The property was still under construction, yet the developers had already signed up with eminent multi-national brands to occupy the space. Among many brands were Nike, Subway, US Polo, Skechers, Pizza Hut, Reliance, Cantabil and many more. I don’t remember the names of all the brands but the Sushma representative showed me a list of over 30 such brands. Leased spaces with global brands also ensure the rental post possession, which I think was the biggest plus point over other developers.

It was on the birth anniversary of my beloved grandmother that I signed the possession papers. I have bought two units, now occupied by two prominent brands (lifestyle retail and a restaurant). I am happy with my decision. I found my high-value asset with the grace of my grandmother. Every day I see more brands coming in as Zirakpur becomes a new hub for MNCs, consumer brands, and young homeowners.