Real estate boom encourages Ghaziabad’s elevator industry
Ghaziabad- Growing number of high rises, malls and housing societies have influenced the demand for elevators. Along with the residential developments, commercial and industrial projects too have been contributing to the elevator sales.
Though usage of lifts in NCR started around 25 years ago, the growth in the segment picked up speed in the last eight-ten years. Fast growth of Indian real estate has paved way to great demand for elevators.
Lift manufacturing firms that started two decades ago initially made hydraulic lifts the old styled channel gates type lifts. Later several modifications have been applied to lifts based on technology development and new designs. Only few manufacturers started with lift manufacturing from the start while many others jumped into the business observing the growth potential in the industry owing to increasing real estate activities happening in Ghaziabad and the rest of Delhi-NCR.
Earlier people did not prefer to install lifts in a five-six floor building but the government has made it mandatory to install lifts in building, which have at least five floors (G+4). This rule by government has further boosted the elevator sales. People getting addicted to comforts and those suffering from health issues are also opting to buy flats in Delhi only if there is lift in the complex. Housing societies developed by Delhi Development Authority (DDA) have also been permitted to get lifts installed.
Cost of lifts depends upon the capacity of the lift, design, inbuilt features and number of floors it is set for. For example capsule lifts are slightly expensive. Stainless steel (SS) and mild steel (MS) are for our lifts construction.
A regular four to six-passenger lift costs around Rs 70,000 to Rs 80,000 and they go up to Rs 18 lakh to Rs 20 lakh depending upon the requirements. A 20-floor lift costs around Rs 60 lakh, while the basic three-floor lift costs around Rs 5 lakh. A 500 kg to 600 kg capacity lift (basic lifts-5-8 people) costs around Rs 30,000- Rs 35,000, while the most sophisticated ones cost around Rs 80 lakh to Rs 85 lakh.
Leading lift manufacturers like Desol instal over 75 to 80 lifts in a year is not a big deal, while the relatively smaller ones like the Yashika install 25 to 30 lifts in a year.
Many players have entered the industry in Ghaziabad and also in Delhi-NCR and there is huge competition. Though the industry is doing well, it has been observed that there is not much increase in profit margins in the last 10 to 15 years.
Manpower and marketing are also a major concern in lift manufacturing industry. Leading companies buy products from smaller players and sell them using their brand names.
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buy flats, Delhi Development Authority, Delhi NCR, elevator sales, Ghaziabad, Leading lift manufacturers, lift manufacturing, lift manufacturing industry, residential developments
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