Is this the best time to buy property?


What makes NOW an ideal time to invest in property? Siddharth Pansari, Director, Primarc Group, lists six primary reasons:

(i) The government has recently reduced the GST rates to 1 per cent for affordable housing and 5 per cent for all other housing. These have been the lowest rates in years.


(ii) There is huge infrastructural development happening in West Bengal. A lot of arterial roads and Metro corridors are being developed, making this the ideal time to buy property along these zones because they will start fetching a premium once the projects are completed and prices escalate.


(iii) The government, through the Pradhan Mantri Awas Yojana, is offering a lot of interest subsidies, whereby a person can save more than Rs 2 to 3 lakh, in terms of interest, depending on the house he or she buys.


(iv) Interest rates on housing loans are at rock bottom. The government is doing everything possible to push it and banks are more willing to fund home loans.


(v) The government has declared that income tax is not liable till Rs 5 lakh. Then there is an additional Rs 2 lakh  allowance on home loans. Add to that low GST rates and interest subsidy from the government, the disposable income goes up and one can invest in a second home, since there is tax breaks for second-home owners as well.


(vi) Both the Central and the State governments have brought in very strict regulations for developers, like the Real Estate (Regulation & Development) Act (RERA) and Housing Industry Regulatory Act (HIRA). This has increased transparency, with everything being uploaded on the HIRA website. There is customer protection, whether it is for developers not delivering projects on time or not fulfilling their obligations.


The consumer today is better protected and in a far better place than ever before.

So, if a new home has been on your mind, get to it, there cannot be a better time to buy!


A peek into the genesis, journey and guiding mantra of our Chairman, Mr. Nand Kishore Pansari, who received the Raymond Lifetime Achievement Award from Mr. Gautam Hari Singhania, the Chairman Raymond Ltd., at Reimagined, the 18th Triennial Dealer Conference in Chennai.



“If you want to surpass somebody, you can either try to cut him down, or you can work hard to grow bigger, and automatically you will surpass your competition.” – Nand Kishore Pansari

Thirty-two years after he opened his first Raymond franchise at Poddar Court in Kolkata, and some 20-odd years of winning the ‘Best Store’ Award consistently, Mr. Nand Kishore Pansari, the Chairman of Primarc Group, has brought more laurels to the Group, receiving the Lifetime Achievement Award from popular apparel brand, Raymond.

The honour was conferred upon Mr. N.K. Pansari by Mr. Gautam Hari Singhania, Chairman of Raymond Ltd., at Reimagined, the 18th Triennial Dealer Conference in Chennai.

Primarc is the Master Franchisee of Raymond in eastern India. Their flagship store, The Raymond Shop, Poddar Court, is the largest and highest-selling store among the 700+ Raymond stores in the country for the last 16 years. With 40 stores dotting 30 towns and cities, Primarc’s Raymond footprint extends from Bengal, Bihar and Odisha to Jharkhand, Assam and Tripura. They are also the second-largest wholesale distributors for the brand, all across India.

The extensive presence and award-winning shopping experience has been built on the philosophy and perseverance of Mr. N.K. Pansari. “I was always interested in fabrics. My association with Raymond started in 1979, and since then my motto has been to just concentrate on the work… to keep at it, and not get distracted by anything else,” he said of his 40-year association with Raymond.

Primarc’s ties with Raymond are stitched together with bonds of love and understanding. “Our relationship with Raymond is not just professional. It is a personal connection which will never go away,” said his wife, Manju Pansari.

“My father is a very hardworking man, very committed and focused on what he does. He’s always treated Raymond as his own. To have one’s beliefs, to be able to stick to them and create something great out of them, these are the qualities that make him a complete man,” said his son, Piyush Pansari.

Business, for Mr. N.K. Pansari, is not just about the numbers but about relationships, and his employees are like family. “We’ve spent our whole lives here because of him,” revealed Bimal Soni, one of the oldest employees at The Raymond Shop, Poddar Court.

Ask Mr. Pansari about his abiding business philosophy, and he’ll say, “The Customer is God”. It is amply borne out in the loyalty of customers to “Nandu Babu”. Mr. J.K. Jain, for one, cannot dream of shopping anywhere else. “I’ve been coming here since I was a student,” he smiled. Mr. N.K. Pansari’s school friend, Mr. Suresh Bangaur, feels that it is the personal relationships that he forges with his patrons that keep them coming back, often for decades.

Mr. Piyush Pansari believes that a good part of his father’s professional journey is yet to come. “He is still working, and he is still working hard,” the proud son revealed.

“To reach Everest is hard, but to stay there is even harder,” Mr. N.K. Pansari is fond of saying. But under his able guidance, Primarc’s Raymond shops are all set to stay at the top for a long time to come.