If TN allowed taller buildings, state will benefit in multiple ways: Arun Bharathi

Arun Bharathi, a former tech professional, is taking a data-driven, family-office approach to Indian real estate through his firm, Bharathi Meraki.

“We operate like a family office, managing real estate allocations alongside equities and debt,” he told The Federal in C-Suite Conversations.

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By combining branded residences, senior living, hospitality, and technology-driven operations, Bharathi Meraki is aiming to professionalise an industry long dominated by brokers and developers. With a footprint in Chennai, Bengaluru, Mysuru, and Gurugram, and plans to expand further, Arun, MD, Bharathi says the firm focuses on maximising returns for ultra-HNIs while pioneering sustainability and operational innovation in real estate.

Edited excerpts:

You began your career as a techie, which is quite a contrast to the real estate world — a space often described as cut-throat, even opaque at times. What inspired you to enter real estate, and what was the vision behind founding Bharathi Meraki?

Whether it’s technology or non-technology, at the end of the day it’s about applying yourself — spending time to learn and implement. That’s the same opportunity I saw in real estate, because in many ways it is simpler. As they say in Hindi, roti, kapda, aur makaan — food, clothing and shelter — are essentials that will always remain. Real estate is one of those constants. Technology may change, but real estate will not.

With that in mind, I began exploring the sector and soon found my footing. We also realised there was a huge gap for professionals in the real estate field, and that’s where the growth began.

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Bharathi Meraki seems to go beyond conventional development — you’re almost offering "realty as a service", especially with your niche, curated projects. How has the market responded to this approach?

Traditionally, real estate services are associated with brokerage, project management consultancy (PMC), facility management, architectural contracting, and related services. But in developed markets, there is also a specialised field called asset management.

It works much like equity markets, where you have portfolio managers or mutual funds that oversee investments. Similarly, real estate requires active, professional management of assets. That’s exactly what Bharathi Meraki does. We operate like a family office, managing assets for large families and ultra-HNIs, and are now gradually expanding to serve corporates as well.

For example, if a family owns a land parcel, we help them develop it into something more productive that generates returns. Likewise, if they have allocated a portion of their wealth — say, out of Rs 100 crore, Rs 10 crore towards real estate, alongside similar allocations to equity, debt, or private equity — we step in to manage and deploy that real estate allocation. Our role is to identify the most effective deployment strategy, ensuring the best possible returns.

At every stage, we keep the interests of the families and ultra-HNIs at the centre, working end-to-end on their real estate projects.

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You’ve partnered with the Taj group through your JV with Ampa. Convincing a brand of Taj’s stature, especially in a space dominated by giants like DLF and Sobha, isn’t easy. What was the pitch — and what do you think sealed the deal?

Just to clarify, we are not a JV partner with Ampa; we are a Development Management (DM) partner, which essentially defines the service we provide in this project. The land parcel in question belonged to a family and is located right in the heart of the city. Naturally, such a location comes with its own set of challenges, and our task was to overcome them while enhancing the value of the property.

When we began working on it, we analysed global market trends and realised there was an early-mover advantage in the space of branded residences. At that time, the concept was still very new in India, with only a handful of projects — such as Leela Residences, Four Seasons, and Trump Towers in Mumbai, Bengaluru, or Delhi.

We asked ourselves: how do we differentiate? What can make our project stand apart? That’s when we decided two things. First, the product itself had to be exceptional. Second, the brand we partnered with needed to carry warmth and a strong connection with Chennai.

This led us to IHCL, with whom we established a compelling value proposition. The collaboration between Ampa, IHCL, and us — as the DM partner — has been phenomenal. It has turned out to be the right partnership in every sense: morally, ethically, ideologically, and in terms of growth.

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Your portfolio is shaping up to be remarkably diverse — from ultra-luxury (Taj Sky View) to luxury villas (GTB project) and even senior living (Elements). What’s the strategy behind this mix, and are there new projects or segments you're eyeing next?

Real estate is traditionally seen as a hyper-local market. The common perception is that you can’t easily operate across regions, since the sector requires extensive licensing support and strong local networks. Our approach has been to challenge that notion by creating products that can transcend borders.

For example, senior living is one of our offerings. Hospitality — through building hotels — is another. We have also entered branded residences and office spaces alongside our hospitality projects. In essence, we have productised real estate into multiple verticals, each with its own expertise.

This product-driven approach has allowed us to expand across geographies. Today, we have a presence in Chennai, Bengaluru, Mysuru, and Gurugram. We are also entering new markets such as Kerala and Mumbai, leveraging our product expertise to establish a strong foothold beyond our home base.

What defines "luxury" in Indian real estate today? Is it location, amenities, brand tie-ups, or a lifestyle narrative?

You can’t generalise the Indian real estate market. Each city has its own character and culture, which directly influences how luxury is perceived. We often say, half in jest, that cities like Hyderabad and Delhi still carry a Nawabi attitude, shaped by their Mughal past — where luxury is expressed in a bold, grand way. In contrast, Bengaluru and Mumbai are more classical in their tastes, while Chennai remains a market that values subtlety.

This is why defining “luxury” is extremely difficult across markets. However, one consensus has emerged nationally: branded residences have become the gold standard of luxury. They deliver on three critical fronts. First, the brand itself, which elevates the address. Second, the service, which assures consistency. Third, the specifications, which align with the brand’s promise.

But simply creating a branded residence does not guarantee success. It requires deep product ideation, careful market fitment, and an understanding of the cultural nuances of each city.

Many institutional investors still see real estate as a conservative or slow-moving asset class. Do you agree with that perception? And how does that align — or clash — with your innovation-led model?

There is certainly some hesitation among new-age institutional investors when it comes to real estate. But conventional institutional investors continue to pump massive amounts of capital into the sector. Real estate, in fact, is among the largest providers of employment in India — second only to agriculture, and arguably more impactful in urban contexts. Yet, the government still does not formally recognise real estate as a sector, despite the scale of employment it generates.

Look at global players such as KKR, Blackstone, or BlackRock — the quantum of investment they bring into Indian real estate is staggering. We celebrate when a startup raises a hundred million dollars, but we rarely talk about the billions being invested in real estate by these institutions.

For example, I just came from a meeting in a tier-three city where a hospital deal worth over Rs 1,000 crore was closed by a fund. These transactions seldom make headlines; they remain an industry grapevine. But the reality is, there is plenty of funding flowing into and out of real estate. The real question is not whether money is coming in — it is whether we are positioned to be a part of it.

Your company name — Bharathi Meraki — suggests soul, creativity, and love in work. How does that philosophy reflect in your design, delivery, and stakeholder experience?

At the core of what we do, we see ourselves as an extended family for the people whose assets we manage. To truly serve them, we must place their interests ahead of our own. The only way to do that is by treating the work as an extension of our own soul.

This belief is what enables us to build deep, trusted partnerships with some of the most respected families. For instance, Mr. Ampa Palaniappan — whom you’ve met — considers us not just partners, but an extended family. That relationship is built on trust, not transaction.

For us, it has never been about merely making money. We stand shoulder to shoulder with our partners — through good times and difficult ones. That is possible only when you approach the work not as business alone, but as something that flows from your core values.

There’s a growing demand for eco-conscious. How important is sustainability in your developments, and is the Indian buyer ready to pay a premium for it?

Absolutely — and the importance of sustainability is even higher in the corporate world. Among evolved buyers, it is non-negotiable. Take the Taj Skyview, for example — it stands as a LEED Gold benchmark in sustainable development.

Our next project takes this philosophy even further. We are working with the elements of nature, designing it in harmony with the local ecosystem. It’s not just about adhering to standards; it’s about shaping the project around what flora and fauna will thrive in that location, and even exploring how we can positively influence the microclimate.

We strongly believe in sustainability and align ourselves deeply with it. But for us, sustainability is not limited to achieving a LEED Gold or Platinum certification. It is about building with nature, not just building to a standard.

What regulatory or policy hurdles do you think still inhibit faster innovation or delivery in Indian real estate? If you had a seat at the policy table, what would you recommend?

I wouldn’t generalise about India, because real estate policies vary significantly from state to state. Take Tamil Nadu, for example. Without going into too many points, one key observation stands out.

If Tamil Nadu allowed taller buildings, the state could benefit in multiple ways. Taller buildings mean less ground coverage, as opposed to shorter, broader structures. Reduced ground coverage, in turn, preserves more open space and increases the green quotient.

Today, by restricting building heights, the state ends up with wider footprints and less green space. Allowing vertical growth could be a simple yet effective way to enhance greenery across urban areas.

Coming from a tech background, how are you leveraging technology in real estate — whether it’s in planning, customer engagement, or operations? Is PropTech part of your strategy?

Today, real estate is as much a technology-driven business as any other sector. Construction technologies are evolving constantly, and staying updated is essential. With the rise of AI, many aspects of real estate can be optimised — AI excels at pattern recognition, and real estate is full of patterns, from project planning to operational workflows. We have already begun implementing AI in various areas.

Beyond AI, technology also plays a role in CRM systems, construction management, and overall project control — essentially, any computer-based tech that streamlines operations.

The second dimension of technology lies in construction methodology and material usage. Innovations here improve efficiency, sustainability, and quality. At our firm, we combine both forms of technology — digital and construction-based — to stay at the forefront of the industry.

Where do you see Bharathi Meraki in the next 5 to 10 years? Are you positioning it as a boutique developer or planning to scale into a pan-India or global player?

We are not aiming to compete with developers like Hiranandani or Sobha, because our philosophy and operational methodology are fundamentally different. Our model focuses on partnerships, working with multiple stakeholders rather than acting alone.

This approach has allowed us to grow steadily across India. We are already operational in Gurgaon, Bengaluru, and Mysuru, with signed projects in implementation. New markets such as Mumbai are next, as we move toward a pan-India presence.

Our metrics of success also differ. We don’t measure ourselves by turnover or the amount of investment we bring in. Instead, we operate more like a fund house, focusing on the Assets Under Management (AUM) we handle.

With over 5,000 projects in the pipeline and more signing up, we expect to touch a billion-dollar valuation before the end of this year. Over the next four to five years, we see potential to grow to $20-30 billion, reflecting the scale at which we aim to operate.