Dr Rakesh Setia on how India’s real estate is getting future-ready

Since its inception in 1996, Rustomjee Group has been a prominent player in Mumbai’s real estate sector, with a portfolio spanning residential, commercial, and retail developments across key locations like BKC Annex, Prabhadevi, and Thane. With over 25 million square feet of completed projects, the group has been involved in large-scale township developments and community-centric initiatives, incorporating spaces for recreation, education, and healthcare.

In an exclusive interaction with Adgully, Dr Rakesh Setia, President - Sales, Marketing, and CRM, Rustomjee Group, sheds light on the company’s marketing strategies across different segments. He discusses how Rustomjee maintains its distinct identity, the role of strategic collaborations—such as the recent partnership with Amazon Alexa—and the growing influence of storytelling in real estate branding. He also shares insights on shifting consumer preferences post-pandemic, sustainability’s role in design and development decisions, and an analysis of the real estate industry’s performance in 2024 compared to previous years.

Rustomjee Group operates across various categories within real estate. How do your marketing strategies differ based on segment—luxury, mid-segment, and affordable housing?

Each segment has a distinct audience with different expectations, priorities, and decision-making processes.

For luxury housing, the approach is more personalized. Customers in this segment look for exclusivity, design differentiation, and a lifestyle beyond just the home. Marketing efforts focus on experience-driven communication, leveraging direct engagement, private events, and collaborations with premium brands that align with their lifestyle.

In the mid-segment, the focus is on aspirational value. Customers here are looking for an upgrade in their living experience, so we highlight aspects like community living, smart amenities, and connectivity. Digital engagement, influencer marketing, and financial structuring play an important role in addressing their needs.

For affordable housing, practicality and trust are key. The messaging is straightforward—highlighting affordability, connectivity, and quality of construction. Marketing is more mass-driven with a strong emphasis on testimonials, financial solutions, and outreach through traditional and digital channels.

In a competitive real estate market, how does Rustomjee ensure its brand stands out from the clutter?

At Rustomjee, we believe real estate is a long-term commitment, and customers prioritize trust, transparency, and credibility. Our focus is on these principles rather than just promotional efforts. We celebrate the moments created in the foundation of our projects, reflecting our core philosophy through thoughtful design across all our developments—whether it’s standalone landmarks, townships, or plotted communities.

Over the years, Rustomjee has built a strong reputation by consistently delivering on promises, developing well-planned communities, and introducing innovative designs and lifestyles. Every project we undertake carries a unique identity, supported by a compelling narrative. Whether it’s integrating green spaces, creating dedicated play areas for children, designing balconies with optimal views, or curating experiences beyond just the physical space, the distinction lies in the value we bring to our residents.

Our relationships with customers are central to our approach. We prioritize after-sales service, community engagement, and ongoing communication, all of which strengthen brand recall and trust. We go the extra mile to meet our customers' needs, fulfilling their expectations and ensuring they receive the best experience possible.

Rustomjee has recently collaborated with brands like Amazon Alexa. What was the idea behind these partnerships, and what impact have they had on consumer engagement?

The idea behind these partnerships is to integrate technology into everyday living in a way that enhances convenience. A home is no longer just about the physical structure, it is about how seamlessly it fits into the resident’s lifestyle. By integrating Alexa-enabled smart home features, we are making homes more intuitive and interactive.

These collaborations have helped in two ways. First, they have created a strong differentiator, especially in the premium and luxury segments, where customers are looking for smarter living solutions. Second, they have improved engagement—customers today want to experience the product before making a purchase, and smart home integrations give them a tangible sense of the future-ready living spaces we are offering.

Are such collaborations becoming an integral part of real estate marketing today? How do they enhance the customer experience?

Collaborations with tech, lifestyle, and service brands are becoming more relevant because they add functional value to the homebuyer’s experience. Today’s customers don’t just evaluate a home based on size or location, they also consider how it fits into their day-to-day life and how it will enhance their everyday living.

Such partnerships allow us to address evolving consumer expectations—whether it’s smart home automation, wellness solutions, or convenience-driven services. They also help in marketing by creating touchpoints for direct engagement. A smart-enabled home or a community with integrated lifestyle services immediately connects with a wider audience and makes the product more relatable.

How has Rustomjee’s brand positioning evolved over the years, and what role does storytelling play in differentiating your projects from competitors?

As homebuyers increasingly rely on digital tools, their engagement with real estate has become more dynamic. Virtual site visits, customer testimonials, and smart home integrations are now integral to their decision-making process. This shift has not only made information more accessible but has also transformed how we communicate our brand story.

While Rustomjee’s positioning has always been rooted in emotional bonding, digital platforms provide new ways to bring it to life. Through immersive storytelling, interactive experiences, and personalized engagement, we can connect meaningfully with customers at every stage of their journey, making the home-buying process more seamless and intuitive.

How is sustainability influencing your design and development decisions in both residential and commercial real estate?

Sustainability is no longer an option; it is a necessity. Customers today are aware and concerned about the long-term impact of their lifestyle choices.

At Rustomjee, sustainability is integrated into the design process. From water conservation and energy efficiency to green building certifications, we ensure that our developments minimize their environmental footprint. In residential projects, this means better air circulation, use of solar energy, and waste management systems. In commercial projects, it includes energy-efficient workspaces, sustainable materials, and wellness-focused design elements.

Sustainability also ties into long-term cost savings for residents and businesses, which makes it a practical approach rather than just an environmental initiative.

What major shifts have you observed in consumer preferences since the pandemic, and how have you adapted to them?

The pandemic changed how people perceive their living spaces. There is a greater emphasis on functionality—homes are not just living spaces but also workspaces, learning spaces, and wellness spaces.

We have adapted by designing homes with more flexible spaces—dedicated work areas, multi-functional layouts, and better ventilation. Outdoor spaces and community amenities have gained more importance, so projects now incorporate larger balconies, green spaces, and social hubs.

Digital adoption has also increased significantly. Customers prefer a seamless experience from discovery to purchase, so we have strengthened our digital engagement through virtual site visits, online documentation, and AI-driven customer support.

How would you describe the performance of the real estate industry in 2024 compared to previous years?

2024 has seen steady momentum in real estate. Demand has remained strong, especially in the premium and luxury segments, driven by increased disposable income, urban migration, and a preference for homeownership over renting.

Interest rates and economic factors always influence the market, but the sentiment has remained largely positive. Customers today are making more informed decisions, evaluating long-term value, and prioritizing community living and lifestyle amenities.

From a supply perspective, developers have become more focused on delivery timelines and customer-centric innovations. Regulatory changes, infrastructure developments, and new policies also play a role in shaping demand, and so far, 2024 has shown resilience with a sustained appetite for quality housing. 2025 is expected to build on the momentum of 2024, with sustained demand in key segments, a growing preference for integrated living, and an increased focus on technology-driven and sustainable developments.