Background

Arrow at Pen has been a subsidiary of Arrow Engg. Ltd. It started as a land aggregation venture when there was a proposal to set up a SEZ under PPP scheme at Raigad District, MS; which later was abandoned. The firm then created a small portion of its asset holding as a township development project; and transacted with about 1000 retail (small) land rights buyers. 

Communication w’ Buyers is Vital for Business

The entrepreneur approached DKC when a small group of these land buyers felt aggrieved because of the delays in land allotment / development. Few of them even resorted to using legal processes. This created utter confusion, frustration and hopelessness among few of 1000-odd buyers – many of whom were not able to understand the intricacies of the situation, hence became vulnerable. The negative communication circulating around on social media and messengers created further complications..

From The DKC Lens

After carefully going through all the pertinent data and facts, interacting with both sides and studying the trends and plans of the government, the DKC undertook this assignment; because, in a nutshell – 

  1. Company has been debt-free and has a very strong asset-side on the balance sheet
  2. Company leadership has clear intent of (a) complying with government plans and norms; and at the same time (b) serving the buyers with absolute transparency and integrity
  3. The delays in delivering (roughly speaking 2015-2023) were because of the factors NOT within control of the developers

Solution Framework

Each step below was implemented with well defined timelines –

  • Starting a newsletter to keep the land rights owners updated
  • Starting a series of podcasts and videos to educate them about factors and aspects of – how real estate development happens, about government plans, about the financial side of ROI expectations, etc
  • Starting a series of meetings in small / larger groups for two-way communication
  • Revamping the website and channels of communication
  • Strategic measures to secure the overall image and reputation of the parent company (AEL)

Conclusion

In the process of adhering to real-estate sector’s best practices, Arrow has become what can be called “Protective Umbrella for Retail Real Estate Buyers” Real estate sector is complicated; and buyers must understand that from the raw land to a high-rise building – is a long journey.

Similar Posts