The past, present, and future of Pragma Homes

Sanjil Mistry, the founder/Managing Director of Pragma Homes, noticed an opportunity in the Hamilton housing market to deliver turn key fixed price house and land packages.

‍

If you live around Hamilton, you’ll have seen the branding, the array of new homes and the office HQ. But who are Pragma Homes? An independent, family-owned developer, Pragma is on a mission to get people onto the housing ladder, offering a turnkey solution to the city’s first-home buyers and real estate investors.

Pragma’s story began in Fiji in 1987. The Mistry family fled the country following the coup in the Pacific island nation, moving to New Zealand where Sanjil Mistry the founder/Managing Director of Pragma homes (then 2 years old) grew up in a successful textile business his family ran.

In 2008 during the Global Financial Crisis Sanjil who was then working at a professional accounting firm noticed an opportunity in the Hamilton housing market to deliver turn key fixed price house and land packages, which was a rarity in the industry laden with Build only contracts. He decided to take the plunge and started his own business with limit resources but with a lot of courage.

Fifteen years into its house-building journey, Pragma strives to deliver increasingly affordable, sustainable housing at a price comparable to older builds.

In 2009, Pragma built its first five residential homes in Hamilton. Pragma Homes was born, and the company now develops about 120 properties a year, including houses, apartments, and townhouses. Pragma has a special interest of helping those in need, whether it be providing housing complexes that cater to assisted elderly, youth, and even complexes that care for new mums and bubs.

The Pragma Property group encompasses many facets from developing subdivisions, hospitality businesses, to doing its own tiling, concreting, landscaping in the effort to keep the price affordable for the home buyer.

Fifteen years into its house-building journey, Pragma strives to deliver increasingly affordable, sustainable housing at a price comparable to older builds. The group aims to enhance existing communities and suburbs, developing across the city, mostly in the Rototuna area, with community hubs in areas such as Davies Corner, Silverdale and Hamilton East.

“We look for anywhere we can improve communities,” says Amardeep Singh, Pragma’s group financial controller. “We recognise the need for integrated living and that local homes need to feel part of local neighbourhoods, within walking distance to the local shops.”

As a key part of the local community, Pragma also prioritises local suppliers, using Hamilton-based firms for flooring, appliances, and other key elements.

Pragma aims to keep things simple for homebuyers, offering a complete turnkey experience. Fixed price contracts are a key principle, and the firm sticks to its word to fulfil developments at the agreed price and on time. Buyers pay a 10% deposit and the balance on completion, with no extra hidden costs or renegotiation risk. It takes Pragma 6-7 months from foundation to finish a home due to the firm’s lean operating structure.

For those seeking to invest in Hamilton real estate, Pragma also builds homes for investors and offers rental management through its property management arm, Rent Easy. The service has enabled countless Kiwis to achieve financial freedom and security.

As a key part of the local community, Pragma also prioritises local suppliers, using Hamilton-based firms for flooring, appliances, and other key elements. Attention to detail, craftsmanship, and constant improvement are core to the company’s ethos.

“We want to make sure we use suppliers that we know, so we can get in the car and go and talk to them,” Singh adds. “It’s all about making sure everyone is accountable, and that we’re all on hand to share feedback.”

Looking to the future, Pragma is keen to use its unique experience and story to help more NZ families onto the housing ladder.

As an NZ Certified Builder, Pragma’s homes come with a 12-month maintenance period warranty, as well as a ten-year structural guarantee. The firm also works with community housing providers, including Te Rūnanga o Kirikiriroa, as it seeks to lift more people into home ownership.

Green initiatives are also important to Pragma. Following the completion of a housing complex on Rifle Range Road, the company is accredited by Homestar, NZ’s sustainability certification, and its homes are also solar-ready. Pragma also works with Lifemark to ensure its properties are safe for people in their later years.

Looking to the future, Pragma is keen to use its unique experience and story to help more NZ families onto the housing ladder.

“Over the next couple of years, we’re looking to create more affordable housing and explore how we could do that with more financing options such as rent-to-buy or shared equity schemes,” Singh says. “There’s a real need for more financing options as many people don’t have enough for a deposit. We hope the government can look into this area because, as we know, housing is so important for social cohesion.”

View the Blog from Stuff here