The real estate sector in Jammu and Kashmir is experiencing a positive development following the government’s efforts to introduce several programs aimed at attracting both sellers and buyers.
There is now a belief in the real estate industry that the real estate market is on the rise, especially after Jammu and Kashmir turned into three Union Territories (UT).
Stakeholders like Real Estate Kashmir (REK), the region’s first and largest online real estate and construction service provider, are taking advantage of the changes underway to easily connect buyers and sellers, as well as to build modern homes and beautifully designed.
Entered the construction industry in 2009, REK is now a household name among Kashmiris, registering over 100 real-price listings every month.
The group has a team of professionals, endowed with both skills and knowledge, and possessing the confidence to operate as independent traders.
A separate team supports the entire business, providing financial management skills including relevant accounting and legal experience and cost control measures needed to identify and develop properties.
During its twelve years of existence, REK has believed in and promoted a tradition of excellence, integrity, knowledge and service.
âAt REK, you are number one. Whether you are an owner or a buyer, we value your business and aim to provide you with the best attention and service you deserve. We believe in a strict code of ethics that involves a commitment to professional excellence, while providing personalized care, âsaid a company official.
âWhen you hire REK, you hire the best. We are passionate about real estate and construction. We absolutely care about your results and will do everything to live up to our core values ââand to help you achieve your real estate goals, âhe added.
âWe take care of our customers and bring a positive attitude and energy to everything we do. By working harder and smarter, we always get the job done. We believe that through teamwork and collaboration, we have what it takes to be unstoppable.
The REK group was first started by three friends – Asif Zahoor (co-founder), Mohammad Shadab (director) and Mir Fanoon Rafiq (director). They initially undertook small renovation projects, but had to suspend their activities a year later (2010) due to the uncertain political and socio-economic climate that prevailed in Kashmir at the time.
All three decided that they needed to move abroad to gain more visibility in the real estate industry. While Asif Zahoor traveled to Tanzania to take on a CFO position at one of Africa’s largest companies, Shadab joined L&T (Larsen & Toubro) as Chief Administrator, while Fanoon moved to Muscat, Oman, to expand his family business. .
However, they continued to stay in touch, nurturing their dream of running their own business using new ideas and innovations.
The dream of starting a real estate business in Jammu and Kashmir came to life in 2015, when Mohammad Asif Sheikh, MBA student at the University of Kashmir, reached out to Asif Zahoor Malik to share some of his ideas on launching services. real estate online. Asif Zahoor Malik had already started a construction company in Tanzania.
The exchange of ideas was also shared with Malik’s two friends and partners, Shadab and Fanoon. After several rounds of discussions, all four concluded that the environment was good to return to Kashmir to start their real estate business.
âOur main goal was to help people and prevent them from being defrauded. Realestate Kashmir maintains transparency between buyer and seller in a very systematic way and also ensures that the ownership documents are genuine, âsaid Malik.
âIn Kashmir, we don’t have a regulator to look at market rates. As a result, market rates are unreasonable almost everywhere, and this is a very important and growing problem not only for us, but also for future generations. Real Estate Kashmir only accepts properties in its portfolio that have a real market price and always encourages people to sell or buy property at real prices only, âhe added.
âRealestate Kashmir’s goal is customer satisfaction at all costs, as we know that most customers suffer at the hands of unscrupulous contractors and real estate agents and don’t get what they want. At REK, we have user-friendly policies that are transparent and reliable, âsaid Malik.
Mohammad Asif Sheikh remembers how his family was shocked and virtually penniless by a fraud committed against them.
âThis incident prompted me to start REK. I was literally shocked at how people can commit such frauds, but when I undertook a survey I found several cases of fraud, some people had lost everything. There was no accountability, transparency or awareness. I decided that there had to be a solution where I could help people like me get ripped off, âSheikh said.
âAt the beginning, it was a very difficult road to take. I made surveys across the city and its periphery and after months of research on the real estate market in Kashmir and meetings with personalities of this sector, I framed the policies of REK accordingly, âhe said. -he adds.
âI was the first to design and promote online real estate marketing in Kashmir. I decided to use social media as a marketing tool for the property listing. At first people were uncomfortable sharing their property details but then when I presented my own website and app I got an amazing response from all over Kashmir and even from Kashmiris living abroad, âSheikh said.
He revealed that he then contacted Asif Zahoor Malik in Tanzania and “we decided to run this business on a larger scale.”
âWe normally receive over 200 calls per day (91-9103072998 / 91-9796970149). We have over 70,000 subscribers on Instagram and over 31,000 subscribers on YouTube which is the highest number of any business organization in Kashmir. So far, we have sold 90% of our listings and delivered over 100 projects over the past 12 years. We are the only technology driven real estate company in Kashmir; the one-stop solution for all real estate requirements of Kashmiris, âsaid Sheikh.
âIn 2009, we entered the construction industry in Kashmir, but when the situation got complicated in 2010, I moved to Africa. I was in Tanzania when I first saw an article from REK. I was amazed to see this thing for the first time in Kashmir. I texted about it and had an interesting conversation with the founder. He offered me to be part of REK and after many discussions with two of my friends, we decided to come back to Kashmir and be part of REK. We have adopted new techniques such as real estate video or social media to differentiate ourselves, but we continue to focus on building trusting relationships with buyers, sellers and business partners, âconcluded Asif Zahoor Malik .