PRA Realty (I) Pvt. Ltd. enters the Indian arena with its international services, dynamic leaders and its mission to be pioneers in the area of Real Estate Development. PRA is a land acquisition and real estate development company with offices in Mumbai, Pune, and Chicago. The firm was founded in 2005 to take advantage of several historic secular trends in India, notably
Expected compound annual economic growth of 5% over the next four decades with the potential for high single-digit growth over the next 10 years.
Enormous wealth creation with the country’s middle-class quadrupling by 2025 and per capita income increasing by up to 35 times by 2050.
An existing housing shortage in the range of 20-25 million units, which will continue to be fed by further urbanization and wealth creation.
We recognize the tremendous demand on the part of foreign capital to enter India as well as the increasingly relaxed legislative environment in which such investments can be made. As such, we primarily seek to attract foreign capital to acquire land and develop properties, with a focus in the following areas
Real estate class: Residential
The residential supply-demand mismatch noted above is robust and not likely to be closed completely for decades.
With legislation passed in 2005, foreign direct investment (FDI) used to develop integrated township properties became among the least difficult avenues for global investors to gain exposure to the enormous growth potential of India.
Secondarily, we continue to explore opportunities to develop commercial properties and hotels throughout the country, also with global investment partners.
Urban markets: Tier II and III cities like Pune, Nagpur, and Nasik.
Geopolitical: Maharashtra
We understand the unique challenges of developing real estate in India, including but certainly not limited to:
Difficult and sometimes litigious land acquisition and aggregation.
Bureaucratic zoning and construction approval processes.
Management of development in the face of still-challenging infrastructure and extreme competition for resources and skilled labor.
To meet these challenges and take advantage of the tremendous opportunity, PRA has grown its core capabilities by attracting an experienced and complementary team. We have assembled a nationally recognized development team, and we possess the necessary expertise, local knowledge, and relationships to acquire strategic land economically. We are extremely proud of the superb track record we have amassed in our short life as a firm.
VISION :
A PRA we seek to build a better life for our customers by leveraging our core strengths and expertise of Quality, Customer Satisfaction and timely delivery. We also seek to create landmark of exemplary quality and design that benchmark the highest standards of sustainable living.
MISSION :
The Company’s mission as a real estate company is to develop and deliver unique, integrated lifestyle and work place environments through its focus on high quality architecture, strong project execution and our customer-centric approach. It aims to develop ‘integrated master planned communities’ which comprise residential projects along with one or more community facilities, including retail and commercial developments, schools and hospitals, enabling a "live, work and play" theme within the same development.
