Rustomjee launches private homes Isle Residences at Bandra-Khar locality

Rustomjee Group, one of the leading builders of premium houses, has launched limited edition private homes ‘Isle Residences’ at Badra-Khar area which will be part of their gated community project - Rustomjee Paramount.

The new product will have only 3BHK homes and further, to ensure the privacy of the residents, there will be only two apartments on each floor. A private lobby and sun deck add to the exclusivity of the homes.

Every apartment boasts of well-appointed interiors with only the best fittings including home automation and modular kitchens by the leading premium lifestyle brand - Magppie. Four RFID lifts grace the building and ample parking has been provided for at the Isle Residences.

Commenting on launch of Isle Residences of Rustomjee Paramount, Percy Chowdhry, Director, Rustomjee Group, said, "Rustomjee Paramount is a shining example of the spaces that Rustomjee creates. It offers not only homes but lifestyle opportunities. 

Every aspect of the project has been thoughtfully planned keeping in mind the requirements of residents of a gated community - from entertainment, fitness, children's recreation, space for elders… all aspects have been looked into. Our A and B Wings at Rustomjee Paramount are sold out and the recently launched C Wing, christened Isle Residences, is sure to meet the exacting expectations of our esteemed clientele."

The multi-storeyed towers are brainchild of two renowned architects in the Real Estate Sector, Sanjay Puri of Sanjay Puri Architects and Patty Mak of Suying Metropolitan Studio. The self-sufficient gated community is strategically located - with easy access to the Western Express Highway, S.V. Road, Bandra-Worli Sealink and also the international airport. It is close to the BKC business district as well as in proximity to education, healthcare and entertainment facilities.

Most of the residences have sea views and the project is in great demand by discerning clients, such that the A and B Wing have been sold out.

Living in a gated community fosters a sense of bonhomie and the chance to connect with like-minded individuals who share similar status and interests in life.

Elderly residents can enjoy the peace and quiet of the Senior Citizen's Zone… all while being assured that their safety and security has been taken care of. In fact, the Alfresco sky lounge, Toddler Studio and Business Centre are ready and functional, with several events already being hosted at the Alfresco Sky Lounge for the benefit of the residents and their guests. 

Rustomjee ensures that residents can truly enjoy the luxury of space - 'My Space' - the opportunity to unwind and de-stress with their hobbies and interests.

What Indian Real Estate Needs from Union Budget 2018-19

Every year, the Union Budget presents the Government with an opportunity to tweak the direction that the Indian economy is taking. Sometimes, hard decisions are taken which, while necessary, do not necessarily go down well with Mr Everyman. At other times, the Union Budget is clearly meant to be a crowd-pleaser. This invariably happens when an incumbent Government is finishing its term and general elections loom, for obvious reasons.

Anuj Puri

The current Government has done a lot for the Indian real estate industry, even when it was in the form of hard decisions like demonetization and the disruptive but very necessary RERA. 

With the hard decisions now taken, the Indian real estate sector fervently hopes that it is at the receiving end of the benevolence implied in a populist budget. This benevolence needs to go beyond improving personal finances and the implied boost to real estate investment appetite.

Despite the Government's very proactive stance towards cleaning up and regulating the sector, there are still several policy-related pain points where the coming Union Budget can make a decisive difference:

• Single-window clearance

Why this has not happened despite it being a very clear and dire need - even more so given the Government's dream of Housing for All by 2022 - is a bit of a mystery. The clearance and approval process for residential real estate projects has been an impediment for a long time. Although many initiatives have been taken to create a conducive business environment in the sector, the demand for single window clearance mechanism in totality is yet to be fulfilled.

If implemented, single-window clearance can significantly reduce the overall projects cycle time and developers will be able to focus on their core business of project execution. Post-RERA, it has become all the more important to facilitate smooth clearances and approvals so that there are no execution delays due to procedural hindrances.

• Industry status to real estate sector

Again, a long-standing demand which has so far gone unmet. Real estate is one of the key GDP contributors and the fourth-largest employment generator in India. Extending industry status to the entire real estate sector will help developers to raise funds at lower rates and, in turn, reduce their project costs - which will help in pushing demand. Additionally, the inclusive growth of the real estate sector will help in generating employment across various sectors which are directly or indirectly related to it.

• Tax rationalization on REITs

As of today, the first REIT is yet to be listed in India. Simplifying the taxation norms for REITs is a critical requirement for listings to start flowing in, which will benefit the entire real estate sector by the enhanced participation of a much broader bandwidth of investors.

• Higher income tax benefits for the first time home buyers

Yes, this always matters for the residential real estate sector. Currently, a first-time homebuyer can claim an additional tax deduction of up to INR 50,000 per financial year under section 80EE of the Income Tax Act, provided certain conditions are fulfilled. Tax exemption should be increased so as to incentivize first-time home buyers.

• Reduction in GST rates

As of now, under-construction properties are levied a GST of 12%, which is significantly higher than the previous taxes. The Government should strive to make GST a tax-neutral proposition so as to help in reviving demand in the real estate sector. Clarity and transparency on input tax credit will also help in rationalizing the taxes.

• Higher incentives for green buildings

They are the indisputable need of the hour in India's deteriorating urban environment, but the marginally higher cost of construction of green buildings has kept a majority of developers away from such projects. Keeping the current and certain future challenges to the environment, the Government should encourage developers with higher incentives in terms of FSI and/or some degree of tax exemption to encourage them to adopt green building technologies.

Article by Anuj Puri, 

Chairman - ANAROCK Property Consultants

ZAK Awards 2017 for Excellence in Façade & Fenestration

The first edition of the ZAK Awards 2017 for Excellence in Façade & Fenestration culminated at Sofitel BKC in Mumbai, which saw a participation of over 600 delegates.

"We're humbled by the overwhelming response we have received and it has reinforced our belief in the importance of recognising the unsung heroes of this important aspect of construction industry," said Syed Zakir Ahmed, Chairman & Managing Director, ZAK Group.

ZAK Awards aims to give global recognition to Façade & Fenestration designs which drives individuals and companies to fabricate the unthinkable.

ZAK Awards 2017, in its first year itself received 300+ entries. Round 1 of qualifiers basis the registration submitted online was screened by Ernst & Young who are the Process Advisors for this unique initiative. Round 2 was screened by Jury members basis forms submitted by the contestants and the winners were decided from amongst the shortlisted by means of case presentation to the grand jury with Q&A in discretion of the process advisors.

The final winners are in accordance to the evaluation averaged out for each finalist basis their implied diligence in the project submitted.

The final winners of ZAK Awards 2017 for Excellence in Façade & Fenestration are as below:

]ZAK Awards for Excellence in Façade Design - RESIDENTIAL

- Cadence Architects - B - One, Bengaluru 

ZAK Awards for Excellence in Façade Design - COMMERCIAL

- Cadence Architects - KMYF, Bengaluru 

ZAK Awards for Excellence in Façade Design - INSTITUTIONAL

- Sunil Patil & Associates - Collector Office, Pune 

ZAK Awards for Excellence in Façade Design - HOSPITALITY

- Ace Group Architects - Y - The Boutique Hotel, Mysuru 

ZAK Awards for Facade Project of the Year - DEVELOPER (COMMERCIAL)

- ITC Group - ITC Green Centre, Bengaluru 

ZAK Awards for Excellence Window Execution - Aluminium Project

- Glass Wall Systems - One Avighna Park, Mumbai 

ZAK Awards for Excellence Window Execution - uPVC Project

- Lingel Windows & Doors Technologies - The Leela Ambience Hotel & Residences, Gurugram 

ZAK Awards for Excellence in Window Execution - uPVC Retail

- Lingel Windows & Doors Technologies - Farm House - Mr. Saraf, Gurugram 

Remarkable Façade Bringing Paradigm Shift

- Venkatramanan Associates & Glass Wall Systems - Lupin Research & Development Centre, Pune 

Outstanding Contribution to the Façade Industry (Contractor)

- Navin Keswani, Managing Director, Aluplex India 

ZAK Awards for Excellence in Façade Execution (SKYLIGHT)

- L&T Constructions - Seawoods Grand Central, Navi Mumbai 

ZAK Awards for Excellence in Façade Execution (CLADDING)

- Alufit - TCS Gitanjali Software Park, Kolkata 

ZAK Awards for Excellence in Façade Execution (POINT FIXED GLAZING)

- Aluplex India - Godrej One, Mumbai 

ZAK Awards for Excellence in Façade Execution (CURTAIN WALL)

- Alufit - Godrej BKC, Mumbai 

Outstanding Contribution to the Façade Industry (Architect)

- CN Raghavendran, Partner, CRN Associates 

About ZAK Trade Fairs and Exhibitions Pvt Ltd

ZAK Trade Fairs and Exhibitions Pvt Ltd., is one of the leading conference and exhibition organisers. Since its inception in 1994, ZAK has organised over 600 exhibitions and conferences involving 22 different industries globally. The core strength of ZAK is acting as a bridge between the visitor and the exhibitor.

ZAK is a specialist in events related to glass, facade, fenestration & aluminium extrusion industries and its conference ZAK World of Facades is the world’s largest conference series on facade design & engineering with a presence in 16 countries. Close connection with the industry stalwarts and professionals gives them the edge and allows them to address key challenges and issues faced by the industry through their events.

Sheth Group Waives off Stamp Duty and Registration charges for six Mumbai home projects

Sheth Group, one of the leading developers in the luxury and mid-housing segment, has waived off Stamp Duty & Registration (SDR) for its upcoming six residential projects in Mumbai as a limited period offer to its customers.

Home buyers can avail the offer on the groups' 1, 2 and 3 BHK residences across properties - Sheth Avalon and Sheth Vasant Lawns Phase 2 at Thane;  Sheth Clarion, Borivali; Sheth Midori, Dahisar; Montana, Mulund and Avante, Kanjurmarg. Home buyers buying home from any of these projects can avail the offer on 20th and 21st January 2018.

Speaking on the offer, Chintan Sheth, Director, Sheth Group said, "We continually strive to provide our customers with great value-for-money offerings, and in this New Year, we wish to reciprocate the faith our customers have shown in us, with an offering that will give them great savings and value. This campaign will play an important role before the financial year-end, as we can achieve good sales turnover with this offer."

About Sheth Group:

Sheth Group is a leading developer in the luxury housing, retail and commercial segment of real estate, with a global footprint.

Sheth Developers Pvt. Ltd. was founded in 1986 by Ashwin Sheth, a visionary with implacable determination. Since its inception, the organization has created some of the largest townships, complexes and tallest skyscrapers through resourceful planning, an unwavering focus on quality and customer-oriented designs. 

Today, Sheth Developers Pvt. Ltd is known as Sheth Corp Pvt Ltd. The company's portfolio boasts of over 40,000 homes built, 80 projects and over 20 million square feet, developed and delivered.

Sheth Group has also extended its real estate presence abroad with great success. Sheth Estate (International) Ltd, a wholly-owned subsidiary of Sheth Developers Pvt Ltd and its international arm, is an established realty name in the UAE. Its Dubai brand, IRIS has enhanced Dubai's skyline with ambitious developments in the residential, commercial, and mix use projects space, adhering to the highest standards of design, planning, location, luxury and comfort.

Currently, Sheth Group has 7 ongoing projects in Mumbai: Midori at Dahisar; Montana at Mulund; Avante at Kanjurmarg and Avalon, Zuri, Vasant Lawns & Fiona at Thane.