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Tuesday, November 1, 2016

JLL India bags top honours at Asian Real Estate Leadership Awards


The Residential arm of the Property Consultancy JLL India has been adjudged as Property Consultant of the Year in the Residential category at the prestigious Asian Real Estate Leadership Awards 2016, hosted by Asian Confederation of Business and endorsed by CMO Asia.

JLL India bagged the top awards in the leading categories of Property Consultant of the Year – Residential and Innovative Real Estate Marketing Campaign of the Year for the Firm's Online Home Fest organized in April earlier this year.

Held at Dubai on 6th October, 2016, the award ceremony was graced by a stellar line-up of pre-eminent developers, bankers, architects, property consultancies and ancillaries from across 35 countries in Asia. Hosted since 2011, the Asian Real Estate Leadership Awards define and celebrate outstanding business vision and performance across all sectors of the real estate industry. They are among the most credible and coveted of recognitions for excellence in real estate business leadership in Asia.

Commenting on the adulations,  Santhosh Kumar, CEO – Operations, JLL India said, “We are gratified at being recipients of these distinguished awards. JLL India's Residential Services division is backed by the thoroughbred DNA of the Firm's robust international platform as well as local market expertise and experience. At its heart, the residential segment of Indian real estate is and will remain a people's business where the human element lies at the core. Success and recognition in this segment relies on forging, maintaining and building on excellent relationships between buyers, investors and developers. At all times, JLL India's Residential Services division has leveraged its well-deserved reputation for best-in-class services to consistently deliver the highest value to its clients."

Always at the forefront of innovations that consistently redefine the way real estate business is done, JLL India has employed the latest technology-enabled initiatives to maintain its edge on the Indian property market. In the most recent manifestation of this disruptive tech-led culture, JLL Residential Services’ recent and enormously successful Online Home Fest was backed by fully-automated and integrated systems which proved to be a critical differentiator in the residential brokerage business. The success of this venture has been amply vouchsafed by bringing in the coveted Innovative Real Estate Marketing Campaign of the Year award.


Continuing its disruptive, client-focussed approach to doing real estate business, JLL is currently hosting the Online Home Carnival in partnership with Housebolo (an NDTV venture). As in the case of the preceding Online Home Fest, this Carnival has been garnering a massive response for participating developers from India and Dubai. The Carnival, which will remain live till the culmination of the current Indian festive season, is targeting over 180 mn Indians and NRIs spread across 72 countries.

Friday, October 21, 2016

Mumbai to Witness Spurt in Office Rental Growth

As per JLL’s recent Global Real Estate Outlook, Mumbai’s office space occupiers will have to face upward revisions in rents in the coming years. Compared to Q2 2015 when Mumbai’s rental values had bottomed out, the city will now start to see acceleration in its rental value growth from Q2 2016.

The research tracks rents (in local currency) for prime Grade-A office spaces in several cities’ CBDs (or their equivalent) across the globe. It then puts these cities on a ‘rental clock’ representing the cyclical nature of office rents.

In Mumbai, Bandra Kurla Complex is the de-facto CBD. The original CBD of Nariman Point long lost out to newer micro-markets due to the evolving needs of occupiers, which it has not been able to provide.

In terms of future upward pressure on office rentals, Mumbai is in the company of cities like Sydney, Brussels, Paris, Milan, Amsterdam, Madrid, Chicago and Boston. In 2Q15, Mumbai’s place on the rental clock was shared by Paris, Brussels, Istanbul and Washington DC. Out of these five, Paris saw a drastic acceleration in rental value growth while both Brussels and Mumbai marched ahead at a slower pace. Washington DC, however, still remains at the same place as last year. Interestingly, Istanbul is now seeing rental values of its prime office spaces falling.

Market dynamics

Mumbai, being the financial capital of India, has traditionally seen a lot of office space take-up by BFSI players and IT/ ITeS (mostly back-office operations of BFSI firms) in different micro-markets. Moreover, showing faith in India’s economic growth, many occupiers have been in expansionary mode, says Anuj Puri, Chairman & Country Head, JLL India.

In a report last year, JLL had forecast that average city-level rents will continue to rise and that the city and suburbs will move from being tenant-oriented to being landlord-oriented after 4-5 quarters. A tenant-driven market indicates oversupply of office space, falling rents, weak demand and big incentives available to tenants, whereas a landlord-orientated market indicates limited supply of office space, rising rents, strong demand and no incentives for tenants.


As JLL had also pointed out, occupiers will take up spaces in less ideal locations as good buildings at ideal locations will fill up quickly on the back of continued demand. Grade-B buildings in good areas will also see renewed interest from occupiers. If the state government improves connectivity and takes up more reforms, additional land parcels in the peripheral areas would open up for residential development and existing office districts could then see further expansion.

Tuesday, October 18, 2016

JLL bags Golden Peacock Global award for sustainability

The leading global real estate services firm JLL has bagged Golden Peacock Global Award for Sustainability from India’s Corporate Institute of Directors.

The award will be presented at a special Golden Peacock Awards Nite at the Millennium Hotel London Mayfair in London.

The Golden Peacock Global Award for Sustainability recognizes companies’ commitment to a more sustainable world across a number of criteria, including corporate governance, economic, environmental and social performance. The award winners adhere to the Corporate Institute of Directors’ mission to lead sustainable business transformation through visionary and holistic awareness of boardroom strategies and practices, good governance, transparency and accountability.

The Golden Peacock award reflects JLL’s ongoing commitment to sustainability globally and to minimize the environmental impact of real estate, as well as enhancing the economic and social benefits of real estate development, according to Anuj Puri, Chairman and Country Head for JLL India.


“By providing sustainability services to our clients here in India and around the world through our network of sustainability professionals, we strive to embed sustainability principles across our advice and services, enabling our clients to achieve more holistic value over the long-term” said Puri, adding, “We believe this award reinforces JLL’s brand and reputation as a global leader in sustainability and our ongoing commitment to being a good corporate citizen in and beyond our business.”

Orris Infrastructure to Begin Commercial Project in Gurgaon

Delhi NCR-based real estate developer Orris Infrastructure Private Limited has recently done the Bhoomi Pujan for its upcoming Commercial property – Market City, in Sector 89, Gurgaon.

Spread over 3.86 acres in the planned 101-acre township – Woodview Residence, Market City is a meticulously planned development located in the happening and bustling Sector 89 of Gurgaon and well connected via Dwarka Expressway, Pataudi Road and the internal sector roads.


Atul Sarin, President – Projects, Orris, who participated in the event, established the corner stone of Market City.

Set to bring together shopping, food, entertainment and global living in an international and eco-friendly designed boutique residences, Market City is will redefine the concept of lifestyles in the modern living.

A series of promenades winding through the commercial district and creating a series of richly landscaped walks and plazas, intertwined with various modes of vertical circulation, Market City will enable people to experience the retail amenities at all levels including broad range of dining facilities from cafes to upscale fine dining, restaurants, bars and lounges.

Along with high-end full furnished and fully facilitated Service Apartments where Scenic and refreshing feel of the landscaped areas with water bodies, seating areas and terraces will be integrated within the development, a statement by the company said.

Friday, October 14, 2016

Vaishnavi Group Bags Honours at Real Estate Leadership Awards 2016

Vaishnavi Group, the leading real estate firm, has bagged Developer of the Year Award 2016 at the Real Estate Leadership Awards organized by CMO Asia recently.

S N Harish, Director Operations of Vaishnavi Group was awarded the 'Most Enterprising CEO of the Year’.  The awards were among those given away across various industries at a glittering award ceremony.


C.N. Govindaraju, Managing Director Vaishnavi Group said, "Being recognized on such a platform is a reiteration of the responsibility we have as leaders in the real estate field."

On receiving the Most Enterprising CEO of the Year Award, S N Harish, said, "I am genuinely pleased and honoured by the recognition. For an individual to reach a high level in their personal career growth, one needs the support of an organization that gives you the room to grow. Vaishnavi Group has always been leaders and will continue to reign high in the field."

Receiving the award on behalf of Vaishnavi Group, Darshan Govindaraju, Director Vaishnavi Group said, "It is an honour to represent the organization and receive this award on its behalf. Being recognized on such a scale and among peers in the industry is an honour and just the motivation we need to set bigger and higher goals for ourselves."


The Real Estate Leadership Awards organized by CMO Asia were divided into Individual categories and Organizational categories. These covered achievements in the field by individuals as well as organizations. Popular Choice awards were also a part of the recognition. All submissions were evaluated to arrive at a shortlist and the winners were chosen by a closed door jury.

Tulip Infratech Completes First Phase of Mega Housing Project in Gurgaon

Gurgaon: Tulip Infratech, one of the leading Real estate development organizations in NCR Gurgaon, has announced completion of 1st phase of its Group Housing Project- Tulip Violet and started handing over 660 Ready to Move in 4BHK & 3BHK apartments.


Situated at Sohna Road in Sector-69 Gurgaon, Tulip Violet is one of the biggest housing projects and has two types of towers – A and B which are fifteen storied. The A-type towers have 4BHK units and the B-type has 3BHK units. The super area of a typical 4BHK apartment is 2010 sqft and for a typical 3BHK is 1578 sqft. A few towers have penthouses.

Parveen Jain, CMD, Tulip Infratech said: “Tulip Violet is at an ideal location adjacent to Sohna Road and it is a ‘Green Building’ in the making. Countryside pollution free green environment away from tensions of hectic life and easy accessibility to all important destinations, equipped with all the amenities, exquisite landscaping, sports facilities, Club, swimming pool, Golf course and what not has made Tulip Violet as one of the most sought after group housing projects and the ideal choice of buyers and investors.”

Tulip Violet is the Group Housing Residential project which is one of the most prestigious proffers by Tulip. These multistoried apartments have been designed in consonance with the high-end contemporary lifestyle. The main emphasis of this project is to provide a pollution free natural green environment to its residents so that they can experience and enjoy a peaceful countryside living away from the hustle and bustle of the big city life of today’s world.

Tulip Violet is pre-certified as Gold rated Green Building by Indian Green Building Council.


Tulip Violet is spread across over an extensive land area of around thirty nine acres at Sohna Road. Although Violet is cocooned inside the tranquil green natural habitat away from the noise, pollution and congestion of the metro city, yet it enjoys all the location advantages which are easy accessibility to all the amenities and advantages provided by the metro city.


Violet is located on the 60 meter wide proposed sector approach road. Also Violet is at a distance of only about half a kilometer from the proposed metro and southern peripheral road. National Highway NH-8, International and domestic airports are also easily approachable from here. 

It is equipped with the state of the art facilities like 24x7 three tier security, fully fenced boundaries, dedicated car parking facilities, earthquake resistant RCC framed structures, fire safety compliant, modular kitchens, high speed elevators, swimming pool, club, community centre, shopping arcade, kids play area, golf range with putting greens, lawn tennis and badminton courts, jogging track, tree lined roads and walkways, exotic landscaped green lawns with beautiful bollards and lighting poles, ergonomic street furniture and other desired paraphernalia. 

Vast green Golf course has been delineated in the site where people can enjoy playing golf in sunny winters.

No Hope of Revival for Struggling Real Estate Sector this Diwali

Buried under high debt and inability of the developers to complete and hand over the pending projects well beyond the commitments to the hard-pressed consumers, the troubled Indian housing sector is not witnessing any festive activity this year despite the latest cut in the policy interest rate by the Reserve Bank of India (RBI), an ASSOCHAM survey has said.  
  
Based on the data and information collected from 250 builders in the Delhi-NCR, Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad, Hyderabad, Pune, Chandigarh and Dehradun, the survey found that the demand for new projects is hard to come while new launches have come to a trickle, marked by lack of consumer confidence and cash deficit of the builders.

Under such a scenario, the demand for new launches, if at all there are, has come down by over 50-60 per cent in Delhi-NCR and Mumbai while it is lesser by about 40-45 per cent in Hyderabad and Chennai. In Bengaluru, the activity has come to a total standstill, first by the demolition drive and then by Cauvery dispute agitation, adds the recent survey. 


“Whatever market is there, it is mainly for the end-users and not for investors, sale has been increased for the smaller units (2 BHK & 3 BHK)”, reveals the survey. 

“Customers are preferably looking for ready to move in property rather than going for under construction property. But not many properties fall in this category”, adds the Secretary General D S Rawat.

The resale or secondary market is also dull this festival season, marked by drop of at least 20-25 in prices this festive season. There is very little resale happening especially in the NCR and surrounding areas. Supply is in excess with private small time builders in the unorganised sector flooding the market with units.

The unsold inventory pressure in NCR region is the highest among all other cities. The NCR residential market still has an estimated 1,70,000 units of unsold inventory which is approximately 30% of the units under construction, adds the survey. As per the survey, there are nearly 8-10 million workers engaged in building and other construction activities who face uncertain future if the sector does not revive.

The ticket price 3-bedroom, 2 BHK and single room flats has seen correction by 30% in Noida, 25% in Gurgaon and 15% in some key areas of Delhi, yet the demand stays subdued

All approvals of real estate projects must be accorded in a time bound, accountable and simplifies manner, the ASSOCHAM said suggesting that the process and status of all approvals be made on line so as to bring transparency.


The property analysts have predicted that till March next year the demand for plots, houses and flats may drop by at least 15 to 20%. The housing inventory in the NCR area is huge as a large number of projects are coming up in the peripheral areas, said Rawat. 

Saturday, August 13, 2016

Brigade Heads for West with two Big Projects in GIFT City, Gujarat

Brigade Group, one of India's leading property developers, has achieved another milestone in its expansion plan with the ground-breaking ceremony of two of its ambitious projects in GIFT City, Gujarat - Brigade SEZ and ibis STYLES Hotel.

The SEZ office towers will have a total development of more than half a million sq. ft. of flexible office space of which the 1st phase is being launched now and the hotel will consist of approximately 170 well-appointed guest rooms, multi-cuisine restaurant, banquets and conference rooms, managed by the ACCOR Group of France.

The auspicious ceremony was witnessed by multiple dignitaries including Sudhir G. Mankad, Chairman, GIFT City - the Chief Guest and N. Srivastava, IFS, Commissioner, Department of Tourism, Government of Gujarat - the Guest of Honour along with Upendra Vasishth, Development Commissioner, Kandla SEZ.

Speaking on the occasion, M.R. Jaishankar, Chairman and Managing Director, Brigade Enterprises Limited said, "GIFT City being the country's first smart city project is a perfect platform to associate with and Brigade Group is pleased to play a strategic role in developing SEZ office towers and an international business hotel. Our group is one of the early movers in GIFT City and we look forward to making it a successful association."

Ajay Pandey, Managing Director and Group CEO, GIFT City said, "With a reputed developer like Brigade starting groundwork for its two projects here, it is a very proud moment for us and an important milestone in the journey of GIFT City which is shaping up as an important global financial hub. As India's first IFSC at GIFT City is already emerging as a major global attraction, participation of Brigade will go a long way in establishing a world class financial hub at GIFT City."

Friday, August 12, 2016

Mumbai Real Estate Picks up, Developers Cashing in on Positive Sentiments

The Indian real estate market has been picking up since Q1 2016. According to the 'Asia Pacific Capital Markets in Focus' - July 2016 by JLL, investors are looking towards development and debt products to gain or increase exposure to the real estate sector.

Several large financing deals are in progress for new launches or under construction projects by developers with good track record. The recent Real Estate Act (RERA) is also likely to bring higher transparency within this sector and help attract investor interest.


With a forecast of GDP growth in the 7-8% range for the Fiscal Year 2016-17, this seems to be the perfect time to invest in real estate. These positive market sentiments have encouraged developers across the metros to start aggressively marketing their projects once again.

Among them is Mumbai-based Dosti Realty showcasing 5 projects through their annual marketing program - 'Friendship Month Celebrations'. As part of the celebrations in August, Dosti Realty is offering customers phenomenal savings benefits across these properties.

"The response for Friendship Month has always been extremely positive and this is the 4th year that we are proud to have this celebration. For those looking at investment or end use, it's a once-in-a-year opportunity we give customers to purchase their dream home at prices that are a steal," said Deepak Goradia, Chairman and Managing Director of Dosti Realty.

The premium projects featured include Dosti Ambrosia, Dosti Imperia and The Majesta. Dosti Ambrosia is a 36 storey tower set amidst the sprawling 18 acres of Dosti Acres-New Wadala, a landmark in Mumbai.

This tower which is ready with the occupation certificate comprises 2 & 3 BHK apartments that offer residents an exclusive rooftop swimming pool, 40000 sq.ft of landscaped gardens, 2 club houses, a tennis court, stunning views of the sea/city and more.

Dosti Imperia located on Ghodbunder Road, Thane (W) consists of 5 towers, 4 of which are ready with the occupation certificate and includes 2 & 3 BHK apartments. The 5th tower - The Majesta is 70% complete and caters to connoisseurs looking for a lavish lifestyle, offering them 4 BHK suites with 7 decks, a 600 sq.ft. lobby at each level, stunning views of the Ulhas river/city etc. Residents here will enjoy a plethora of lifestyle amenities like squash court, party lounge, library, cafeteria and more within the complex.

The other projects in the offering include Dosti Vihar at Pokhran Road 1, Thane (W) and Dosti Planet North at Shil - Thane. Dosti Vihar already houses 1400+ happy families and now has limited 2.5 and 3 BHK's available. With ready amenities like an AV room, 3 large banquet halls, jogging track, cafeteria, senior citizens area etc, there is something for everyone. Planet North is a 25-acre township comprising 1, 2 and 3 BHK garden/hill facing apartments with a host of amenities within the 30,000 sq.ft clubhouse.


 "Both New Wadala and Thane are prime investment destinations in Mumbai. From 2002- 2016 property prices in New Wadala have increased over 100% and are likely to propel further post the proposed MMRDA makeover Plan. The Thane location has also seen exponential growth both in the commercial and residential sector. According to the Residential Investment Advisory Report, 2016 by Knight Frank , Majiwada-Kasarvadavali is projected as one of the top 5 investment destinations across 5 major cities in India," added Deepak Goradia.

Quarry Gallery Offers Finest Collection of World's Best Marbles for Architects and Interior Designers

Mumbai: The Quarry Gallery, a one-of-its-kind 12000 sq. ft. curated marble gallery, has been launched in Mumbai’s Kanjur Marg (East) recently with a vision to enable buyers, architects and interior designers to discover a renewed approach to marble from selection to purchase to installation. 

The Quarry Gallery, launched by Chief Curator - Rupesh Shinde, boasts a collection of the world's finest marble, stone and rare onyx under one roof.

The core concept of The Quarry was borne out of founder Rupesh Shinde's experiences as a commodity trader in London as well as his apprenticeship of over three years under Italian marble industry stalwarts. Rupesh caters to the Indian diaspora longing for a destination where marble is not seen as a commodity, but much closer to a consumer's heart,  a piece of art.

Speaking on the launch Rupesh Shinde, Founder, Chief Curator, The Quarry, commented, "With our gallery, we aim to change the way marble and stone is being bought and sold traditionally. All of the timeless qualities of rare marble and stone have been individually curated during my travels across the world, and are stunningly displayed at our gallery. At The Quarry, we have the best luxury marble and precious stone collection from the most prestigious Italian and world quarries."

Till date, the marble-buying pattern has been through retailers, naturally driven by populist market demand, passion for and information about the product was always at a premium. The discerning buyer would have to make trips abroad to get their marble of choice.

The Quarry aims to be this difference, offering buyers in India carefully curated stories of creation, of art, of opulence and of pride. Bringing back the passion and knowledge from international veterans, Rupesh believes in quality craftsmanship and a unique perspective on design that will be offered to all this clients.

The Quarry will also offer innovations such as bacteria resistant BactoFinish and QVAC, a special ultra-strengthening technology that increases the integrity and longevity of every slab.


Extending support to The Quarry team, a number of global experts and designers from Italy and the UK and Indian architecture were present during the gala launch. The current Quarry gallery is located at Kanjurmarg, Mumbai, and the brand has already planned a second gallery in London to cater to its International customers.

Wednesday, August 10, 2016

Finance Buddha and Grihashakti Partner for Affordable Housing Projects

BENGALURU: Grihashakti, a wholly owned subsidiary of the Fullerton India Credit Company Limited, Singapore and Finance Buddha, one of the largest integrated lending platforms in the country have come together to launch affordable housing projects.

Ravindra Rao, CEO, Fullerton Grihashakti says, "Presently there is a shortfall of 71 million affordable housing units in India. Our housing company - Grihashakti, was set up to address this growing demand for affordable housing units and also is in line with Government of India's initiative of 'Housing for all by 2022'. We are happy to partner with Finance Buddha as we believe that this alliance will leverage our individual strengths and will help us in catering to the needs in affordable housing segment."

The shortage for housing for the lower income segment in India will be 25 million by 2025 (inclusive of the backlog), which is currently being valued at anything between Rs. 5-10 trillion.

The combined entity of Grihashakti and Finance Buddha is focusing to become a leading player in the affordable housing segment and will be adding another niche to their basket of offerings.

"We feel extremely proud that Grihshakti has partnered with us for this initiative. We are confident of working with them to ensure deeper penetration of this important product suite and encourage various stakeholders like builders, real estate brokers, loan agents, financial experts etc. to partner with us to provide this important service to people looking for affordable housing loans. This is also in line with our credit inclusion agenda," says Arun Raj, Business and Strategy Head, Finance Buddha.

Finance Buddha will use their multi-channel approach using analytics and marketing to identify customers for this segment, and couple it with their offline presence to provide real time solutions and products in this space.

What Drives Demand for Ready-Possession Homes?

It is no secret that ready-possession projects or projects nearing completion are costlier than under-construction projects. Nevertheless, many buyers are eager to acquire property on an immediate basis rather than waiting. There are sound reasons behind such a decision:


Cost Differences:

The real estate sector has gone through a serious down phase over the past couple of years, resulting in lower new launches, price reductions and higher unsold inventories. This has encouraged developers to offer attractive deals, discounts and various freebies to attract buyers of ready-to-move properties. Therefore, it makes sense for buyers to invest in a ready-possession project rather than wait for a new project to come up over a period of time. Also, prices are beginning to rise again, and the market is looking up steadily - this is the best time to invest in property, and a property that’s ready to be moved in obviously has great appeal.

Cost of Rentals:

Most people buy their homes with bank loans, and it becomes costly for them to keep paying EMIs as well as the rentals till the builders complete their project and hand over the house keys. Paying a little bit extra to acquire a house right away is cheaper than paying rentals over a period of time, which is an additional cost for the buyer.

Rental Income Potential:

A lot of investors buy houses with the objective of earning rental income or re-selling them to earn profits. Purchasing a property in a completed project helps them to start earning immediately out of it through rentals rather than waiting a few years and locking their money away in a non-income generating project.

Security:

The real estate sector is still fragmented, and there are a lot of fly-by-night operators who dupe unwary buyers and investors by collecting the initial sums and then vanishing. In these uncertain times, people want security and assured returns, and finished projects offer them this stability and guaranteed safety of a project.

Uncertain Delivery Timelines:

Unfortunately, the cases of delayed delivery of projects have been on a consistent rise owing to various factors plaguing the real estate sector. This directly impacts the financial burden on a buyer, for whom the uncertainty costs a lot of money. Also, the extended periods of EMIs and other expenses take a toll. Therefore, it makes more sense for buyers to invest in a completed projects rather than ones that is mid-way or about to begin.

Uncertain Support Infrastructure:

A lot of new projects are coming up in the vicinity of major cities where the supporting infrastructure like roads, electricity, water connections etc. are not developed. These are promised only when the projects are completed, but under-construction projects have to wait for long periods of time. This puts off the buyers who want to move in their new homes and also derive the benefit of ready infrastructure instead of waiting for basic amenities to be provided to them.

These are valid concerns for buyers; and the demand for ready-to-move-in homes works equally well for developers, who can offload their unsold inventory and get much-required liquidity.

By Ashwinder Raj Singh, CEO – Residential Services, JLL India

Tulip Infratech Launches Group Housing Project ‘Tulip Violet’ in Gurgaon

Tulip Infratech – one of the leading Real estate development organization in NCR Gurgaon has come up with its brand new Group Housing project - Tulip Violet.

The Group has earlier launched and completed Group housing projects which includeTulip Petals, Tulip Grand, Tulip Orange, Tulip Ivory and Tulip White. Tulip Violet will be multi-storied apartments designed in consonance with the high-end contemporary lifestyle. The main emphasis of this project is to provide a pollution-free natural green environment to its residents so that they can experience and enjoy a peaceful countryside living away from the hustle and bustle of the big city life of today’s world. 


Tulip Violet is a Green Building in the making and has been pre-certified as Gold rated Green Building by IGBC (Indian Green Building Council). 

Tulip Violet is spread across over an extensive land area of around thirty nine acres at Sohna Road Badshahpur in Sector-69 Gurgaon. Although Violet is cocooned inside the tranquil green natural habitat away from the noise, pollution and congestion of the metro city, yet it enjoys all the location advantages which are easy accessibility to all the amenities and advantages provided by the metro city. 

Violet is located on the 60 meter wide proposed sector approach road. Also Violet is at a distance of only about half a kilometer from the proposed metro and southern peripheral road. National Highway NH-8, International and domestic airports are also easily approachable from here. Tulip Violet has two types of towers – A and B. These towers are ground plus fourteen storied. The A-type towers have 4 BHK units and the B-type has 3 BHK units. 

The super area of a typical 4 BHK apartment is 2010 sqft and for a typical 3 BHK is 1578 sqft. A few towers will have penthouses, a company press release said. Tulip Violet shall be well equipped with the state of the art facilities like 24x7 three tier security, fully fenced boundaries, dedicated car parking facilities, earthquake resistant RCC framed structures, fire safety compliant, modular kitchens, high speed elevators, swimming pool, club, community centre, shopping arcade, kids play area, golf range with putting greens, lawn tennis and badminton courts, jogging track, tree lined roads and walkways, exotic landscaped green lawns with beautiful bollards and lighting poles, ergonomic street furniture and other desired paraphernalia. 

Vast green Golf course has been delineated in the site where people can enjoy playing golf in sunny winters. Tulip Violet has huge double level and single level interconnected basements. Both Non Tower area and tower area basements have been provided to give ample space for car parking along with surface car parking on ground surface level. All the desired amenities and sports facilities will be provided in the commercial block and club within the Violet premises and in the vicinity of the site which is surrounded by five other Tulip projects and are at a walking distance from Violet.

In Tulip Violet, interior material specifications are world class like granite, marble, wooden flooring, vitrified tiles, anti skid ceramic tiles as far as flooring is concerned. For walls acrylic emulsions, permanent texture and paint finishes, ceramic tiles in digital printing are being used. Hardwood door frames with molded raised high density fiber panel doors and UPVC windows are being used for doors and windows. Ground floor entrance lobbies shall be air conditioned with exquisite lounges. 

Facilities like video door phone connected with ground floor lobby, flat to flat intercom facility, access control guard less entry to towers shall be provided. Tulip Violet is one of the best deals for buyers and investors due to above described factors which throw light upon the plethora of advantages which Tulip Violet is proffering.

Countryside pollution free green environment away from tensions of hectic life and easy accessibility to all important destinations, equipped with all the amenities and sports facilities and what not has made Tulip Violet the ideal choice of buyers and investors. 

Tulip Violet is creating a micro green environment in the macro environment of the Gurgaon NCR area and this is unique and advantageous in every aspect. Buying a Tulip Violet apartment can be considered as one of the best deals in this scenario.

Sahakar Nagar, Aspirational Neighbourhood of Pune

Pune is witnessing a very high rate of cross-border cultural exchange, with an increasing number of its citizens traveling abroad even as more and more international tourists explore the city each year. The IT culture, glitzy shopping malls boutiques offering the latest in global fashion trends and international schools are all part of this process of cultural homogenization. Pune has become a truly cosmopolitan city, thanks largely to the influence of its burgeoning IT sector.

Nevertheless, the historical Pune - the city which holds on to its traditional values and outlook - continues to exist. Because of the mass-scale development happening all of the city, it is less visible today than it was just ten years ago, but the spirit of Punyanagari lives on in its core areas. Sahakar Nagar is perhaps the most prominent of these strongholds of Pune’s traditions.

Sahakar Nagar needs no introduction to citizens of Pune. This elite residential area is one of the oldest, greenest and most respectable addresses in the city. The area was developed after the 1961 floods in Pune, and has become a prominent location today. Sahakar Nagar is home to some of Pune's most established businesspersons, politicians and movers and shakers, and has been a very exclusive and largely closed real estate market for decades.

Simultaneously, Sahakar Nagar represents a unique balance because it has retained the city's traditional Marathi culture while at the same time evolving to keep pace with the times. From the outside, the tranquil dignity and old-world charm of this venerable residential location gives no visible indication of change. However, Sahakar Nagar has been seeing a constant process of reinvention which has resulted in excellent civil infrastructure.

This area is unique in yet another aspect. Because of the fact that the residents of Sahakar Nagar will never want to move anywhere else, getting a resale home here is a huge challenge. Also, since it is fully developed and occupied for several years now, there is next to no new residential supply. Sahakar Nagar is one of the last predominantly end-user driven locations in Pune, though investors are always keen to make a play in this distinguished luxury neighbourhood. It is a genuine stronghold of the city's elite and affluent families that has never been open to investors.

The past few years have seen no new projects at Sahakar Nagar because of the lack of land. The primary residential configuration at Sahakar Nagar is bungalows and villas, which comprise most of the housing landscape of this high-profile location. The resident profile primarily reflects Pune's orthodox Hindu Brahmin community, which has helped preserve Sahakar Nagar's reputation as one of the last outposts of the city's traditional roots. 

The location itself is perfect. At a high elevation, it offers a breath-taking view of the Parvati/Taljai hill area as well as thick reserved forest lands. Bharati Vidyapeeth, one of Pune's most upscale educational institutions, has its campus close by. The Pune-Satara road provides ready access to Swargate Bus Terminus, a vital transit hub in the heart of the city, as well as other key areas of Central Pune. The Mumbai-Pune Expressway is within easy commuting distance via the Katraj Bypass. Sahakar Nagar is also within a stone's throw from City Pride Cineplex, and has its own integrated high street shopping area which most of the local residents patronize.

Thanks to its unmatched locational advantages and also its unique profile, Sahakar Nagar is a highly aspirational luxury address. Due to scarcity of developable space, top-class projects in the area are a focal point for high-end investors as well as families looking for prestigious permanent residences. With next to no availability of residential units of any kind, Sahakar Nagar's status as a stronghold of Pune's elite stands unassailable.

Amit Enterprises Housing Ltd. established its foothold in Sahakar Nagar back in 2007 with the launch of the luxury apartment project 9 Green Park. This project was completed in 2012 and is, not surprisingly, completely sold out and occupied. However, another luxury apartment project by AEHL now offers the hope of home ownership in Sahakar Nagar to Pune's discerning few. Montecito - located adjacent to 9 Green Park - enjoys the most spectacular view yet of Sahakar Nagar's legendary natural splendour. This ultra-luxurious apartments project, spread over 4.3 acres of Sahakar Nagar's most breathtakingly beautiful hilltop location, consist of two 16-storied towers that offer 64 apartments backed by five levels of reserved parking. This unique project is designed by none other than renowned architects Talathi & Panthaki.

Answering the call for luxury living in Pune's most treasured and highly exclusive residential addresses, Montecito is AEHL's final brush-stroke on a priceless masterpiece called Sahakar Nagar - a location that always has, and always will, capture the very essence of all that is truly Pune.

 By Kishor Pate, CMD - Amit Enterprises Housing Ltd.

Friday, July 8, 2016

Asia Pacific Is Most Improved Region For Real Estate Transparency: JLL

 Asia Pacific made the greatest progress globally in terms of real estate transparency over the past two years, according to JLL’s Global Real Estate Transparency Index (GRETI) 2016. 

The index measures transparency by looking at factors including data availability, governance, transaction processes, and the regulatory and legal environment.

Asia Pacific is a diverse region in terms of real estate transparency. Australia continues to hold the top spot as the region’s most transparent real estate market, and together with New Zealand, is classified as ‘Highly Transparent’.

Overall, improvements in most countries across the region have been small. The biggest improver in the latest survey is Taiwan, which has moved into the ‘Transparent’ category for the first time. More moderate improvements were achieved by Japan, South Korea, India and China, with China’s Alpha cities now on the cusp of the ‘Transparent’ category. At the other end of the spectrum, Myanmar retains the title as the least transparent market in Asia Pacific, although it was amongst the ten biggest improvers globally.

“India has made improvements in overall transparency scores across all markets, and has achieved higher ranks for tier-I, II markets. Improved market fundamentals, policy reforms, and liberalisation of FDI into realty sector and strengthening of information in public domain were main influencers, along with digitization of land records and opening up of REITs,” says Anuj Puri, Chairman & Country Head, JLL India.

India’s low score in transaction process (e.g. high costs of investment transactions, and weak professional standards for local agents) will improve during the 2016-18 assessment period of JLL’s next Transparency Index, on account of enactment of the Real Estate (Regulation and Development) Act and establishing of the real estate regulator.

The major factor driving improvements in Asia Pacific has been the increased availability and quality of market data. For example, Sri Lanka makes a debut in the rankings for the first time and is on the cusp of entering the 3rd tier of markets from its current 4th tier. In some countries improvements have also been seen in regard to performance benchmarking, the enactment of new legislation, the introduction of higher ethical standards, and the wider adoption of ‘green building’ regulations and tools.

“These results are encouraging as they highlight the steady advance of the region’s real estate industry,” says Jeremy Kelly, director, Global Research Programmes at JLL and main author of the report “Taking Real Estate Transparency to the Next Level”.

The launch of GRETI 2016 comes at a time when international institutions, national governments and businesses are demanding greater integrity and clarity in investments and transactions. It reflects a growing recognition of the crucial role that a transparent real estate sector plays, not only as a facilitator of new investment and business activity but also, significantly, in community well-being and inclusiveness, according to the report.

Additionally, capital allocations to real estate are growing. JLL forecasts that within the next decade in excess of US$1 trillion will be targeting the sector globally, compared to US$700 billion now. This growth means investors are demanding further improvements in real estate transparency, expecting standards in real estate to be at least on a par with other asset classes.

“While the region as a whole has shown improvement, most countries in Asia Pacific are still not transparent. There are ongoing examples of poor corporate governance, opaque and corrupt practices and failures in regulatory enforcement that are resulting in serious consequences for society, for business activity and for investment,” says Dr Jane Murray, Head of Research, Asia Pacific.

“Looking ahead, the continued development of the region’s economies and real estate industry will fuel the need for future enhancements in transparency as investor interest rises and the demand for quality buildings and management grows. Regulatory reforms will be essential for further progress in transparency and although public sector initiatives are essential, private sector involvement will also be crucial.”

JLL’s Transparency Index is updated biennially and has been charting the evolution of real estate transparency across the globe for 17 years. The latest survey covers 109 markets worldwide.

Mana Bags Prestigious Awards for Bangalore Projects

Mana Projects Pvt. Ltd. has won the National Awards for Excellence in Real Estate & Infrastructure organised by CMO Asia in partnership with Lokmat at Taj Lands End Mumbai recently for its project Mana Tropicale in Bangalore.

It was not long ago that Mana Projects had won the award for 'The most admired upcoming project of the year' at the Asian Real Estate Leadership Awards in Dubai for the very same project.

Kishore Reddy, CMD, Mana Projects comments on the awards: "The hallmark of Brand Mana is synonymous to the perfect balance between comfort, convenience and the natural environment. We are committed to blend these three things into every project. Our latest project Mana Tropicale is an exclusive collection of apartments with tree hugging balconies and private backyard gardens that are being built amidst nature. The project is on track to change the way the industry looks at responsible development."

The National Awards for Excellence in Real Estate & Infrastructure celebrates the highest level of achievement by companies operating in all sectors of real estate as well as infrastructure industry. The awards recognize, encourage, and promote excellence in real estate developments. Mana Projects, one of the most admired real estate developers of Bangalore, won the Popular Choice Award for ' Preferred Customer Choice Luxury Project of the Year' for its project Mana Tropicale, which is located off Sarjapur Road, Bangalore East.

With over 200 participant companies from India, Mana Projects emerged as one of the promising companies to win this award, which was chosen on the basis of customer preference and various other parameters, including innovation, creativity, optimum use of space and natural light, integration of nature and architecture, etc. 

This award is evidence that this young company is a serious contender in this highly competitive national property arena and has all the necessary qualities to be part of the Big League in the very near future. 


Mana Tropicale. the. 2/2.5 & 3 BHK Premium Apartments off Sarjapur Road, is being developed around the concept of 'living close to the nature'. A blend of nature and design has been Mana's motto in all its developments and Mana Tropicale ensures that this promise is delivered and even takes it a step further by striving to retain the existing flora. 

Mana Tropicale is one of the few Indian projects to integrate nature so extensively by retaining around 690 odd tropical trees in its wide central spine and the beautiful nature screen, which envelops this beautiful property.

The project is house to hundreds of Mahogany, Silver Oak, Casuarina and many more tall tropical trees spread across over 9 acres of green space. One of our customers, Krishna, Sr Manager, Wipro who was a part of the sample research group said, "It is hard to believe that Tropicale is located just 4 km from Wipro, Sarjapur Road." 

DAMAC Properties Launches AKOYA Imagine Targeting Millennials in Middle East

DAMAC Properties, Middle East's leading luxury real estate  developer, has unveiled AKOYA Imagine, a cluster of homes surrounded by the lush greens and fairways of the international golf course. 

Set at the heart of the AKOYA Oxygen master development, AKOYA Imagine presents a collection of colourful villas aimed at young couples and families, representing the perfect permanent residence or vacation home.


In Phase 1, three bedroom villas will be released with starting prices of AED 1.2 million, spread across an attractive three-year payment plan. Homes will also benefit from free service charges for five years. The units will go on sale on Saturday, 9th July in Dubai at DAMAC Maison Canal Views, Al Abraj Street from 11am to 11pm.

As a vibrant community nestled within a wonderful green backdrop, AKOYA Imagine is a neighbourhood for those who are contemporary and relaxed in their style of living. Indoor and outdoor spaces are carefully arranged to offer a casual way of life that blends function with social, family living, and an artful palette of colours. Interiors are open, airy and splashed with zesty hues, which balance warmth with cooling tones, energy with serenity and space with intimacy.

Ziad El Chaar, Managing Director, DAMAC Properties, said: "AKOYA Imagine is targeted towards a new type of buyer - young, professional and savvy to the lifestyle and financial benefits of buying in an international golf course community. This type of community is proven to consistently yield higher returns than a purely residential one and there is a limited supply in Dubai. Combined with the Tiger Woods Design element, a villa in AKOYA Imagine presents a very lucrative investment, not to mention an extremely attractive home."

Supporting El Chaar's statement, advisory firm KPMG stated in a recent report that golf courses typically increase the valuation of adjacent real estate by up to 20% when compared to similar real estate in a neighbourhood without the golf course component. 

AKOYA Oxygen is a 55-million-square-foot master development that will showcase the greenest living spaces in Dubai. Home to the 18-hole championship golf course by Tiger Woods Design, the eagerly anticipated development boasts easy access to Dubai's major highways; yet is far enough away from the bustle of the city to offer a tranquil pace of life in a beautiful green setting.

Thursday, July 7, 2016

Sobha Enters Delhi-NCR with First Luxury Apartment Project in Gurgaon

Leading property developer Sobha Limited has launched its first luxury apartment project, Sobha City in Delhi-NCR. The project is one of the largest group housing projects in Gurgaon which will offer best-in-class living experience to the customers.

Located in sector 108 of Gurgaon, the project is much sought-after due to its close proximity to Delhi and Indira Gandhi International Airport.

Sprawled over 39 acres, Sobha City comprises of 1700 apartments across 22 towers with four units on each floor. The project offers 2BHK and 3BHK apartments that range from 1380 sq. ft. to 2342 sq. ft. Each unit is functionally planned with well-designed layouts and optimally-sized living spaces. With 85 per cent open spaces, it offers an abundance of amenities along with a magnificent view of the surroundings.


Speaking on the eve of the occasion,  JC Sharma, VC & MD, Sobha Limited, said: “Over the years, Gurgaon has developed and transformed into a leading financial and industrial hub in India. It not only boasts a presence of over 250 Fortune 500 companies but also caters to a population having third highest per capita income in the country. This has augmented the demand for luxury homes that meets the aspirations of people in the Delhi-NCR region. Additionally, Gurgaon being one of the fastest growing realty markets, offers high capital appreciation, making it a lucrative investment option. Sobha City aims to fulfill the desires of quality conscious and value discerning customers. More importantly, the project underscores promise of international quality luxury, style, and comfortable living.”

Jagadish Nangineni, Regional Head - NCR, Sobha Limited said: “Sobha City, Gurgaon is the first luxury apartment project from the house of Sobha. With this launch, we will have a product mix that will offer homes of all sizes in NCR region – 2 & 3 BHK apartments in Sobha City and villas at International City. Sobha City has been meticulously planned keeping customer’s core requirements in mind for a luxurious community living – both in terms of the apartment and amenities. These apartments are designed with a good balance of functionality, aesthetics and luxury. The amenities are the best in class - open grounds, parks, large water bodies and two clubhouses. Sobha City is going to be a landmark community development owing to its scale of development, shape of the land and location which is on the edge of Delhi.”


The common amenities at Sobha City include a large cricket ground having 45m radius, a lakelet, two oval club houses measuring 40,000 sq.ft with multipurpose halls, cafe, entertainment room, children’s play area, library, and cards room. In addition, it also offers multiple lawns and parks, specially designed camping grounds, paved pathways, swimming pool, cricket stadium, green landscaped outfield with more than a kilometre long walking and biking trail, designer landscaped greens and other amenities that match the pace and standard of living of today’s smart customers.

Embassy Becomes Co-developer for 30 Acre Chennai SEZ

Embassy Group, India’s leading property developer, has received approval from the Board of Approval to act as exclusive Co-Developer for the Notified SEZ at Chennai previously known as SNP Infrastructure Private Limited.

The project, a 30 acre SEZ property near Vel’s University on Thoraipakkam-Pallavaram radial road in Chennai will be known as Embassy Splendid TechZone.

The Bhoomi Pooja held on June 15 was attended by Embassy Group and SNP Infra team members. Phase 1 of this project will be 2 million sq. ft. is expected to be completed in 2019.

Talking on the MoU, Jitu Virwani, Chairman and Managing Director, Embassy Group, said, “We are excited to move ahead with this new partnership and add it to our existing multi SEZ portfolio. With this, we plan to strengthen our foothold in Chennai, a city with tremendous growth potential and a key market for our business. We share great synergy with SNP Infrastructure and look forward to having a longstanding relationship with them.”

Speaking on the occasion, Mike Holland, CEO Embassy Office Parks said, “Embassy Splendid Tech Zone, Chennai is strategically located less than 4 km from the Chennai airport, easily accessible from both OMR and GST roads, and served by Pallavaram & Velacherry railway station with strong local and residential neighbourhoods which can cater to, and benefit from, the planned IT SEZ. The location is elevated which gives natural protection from flooding and support to business community needs. Corporate occupiers could not wish for a more strategic location. We are already seeing strong demand from both residential and commercial users in this location.”

PR Gopal Raju, Chairman, SNP Infrastructure said, “We are happy to partner with Embassy Group for this venture and we look forward to recommencing construction of our first 2 m sq. ft. of SEZ offices at the earliest.”

Recently two of the existing Embassy SEZ’s in Bangalore were acknowledged as “Best Performing SEZs in India”. Embassy Manyata Business Park promoted by Manyata Promoters Private Limited and Embassy TechVillage promoted by Vikas Telecom Private Limited have been awarded with Certificate of Excellence by the Ministry of Commerce and Industry. Embassy Manyata Business Park and Embassy TechVillage were both notified as Special Economic Zones in 2006 and both have lived up to the objectives of the SEZ regime, which is to promote infrastructural development, generate employment, promote exports. These awards further acknowledge the market leading performance of the Embassy SEZ’s.


As on March 2016, Embassy has developed three SEZ’s with total investments of around Rs4700 Crore, with built up areas of 9.8 m sq. ft., generating 172,000 direct jobs, within 84 SEZ Units, and exports approximately Rs. 67,000 Crore.

Rohan Lifescapes Unveils Mobile-friendly Property Website

Rohan Lifescapes, a premier real estate company specialising in redevelopment, has launched a new 'Mobile-first' version website in line with the company’s digital initiatives as part of its Vision 20:20 corporate program.

Speaking on the occasion,  Harresh Mehta, CMD, Rohan Lifescapes opined, "We have been going through a realignment and restructuring phase. The launch of the new website marks the onset of the change we wish to usher in. As we move forward our sole endeavor is to be a company that adds value to customers by easing the process of home buying by leveraging new age immersive and intuitive technologies that help them to visualize and thereby realize their dream."

Breaking away from the normal and adding a twist in a routine launch is the launch of the mobile-first version of the website, which is then adapted to the other platforms. The website is one of the few 'fully hand-coded' HTML5 and CSS 3 website that add in that new refreshing touch and is also an absolute customized creation thereby enabling scalability at a future stage. The meticulous UI (user interface) combined with sophisticated and robust front-end development act as catalyst in countering routine web ranking hurdles.

The company aims to be represented digitally and driven by technology that leverages the best consumer immersive platforms to enhance customer experience and drive engagement. The company is also in talks with premier global companies that offer such solutions.

Apart from attention to detail on the User Experience (UX), the website also boasts of imagery that is not only visually appealing, but by virtue of the development method adopted is also technically sound in performance arenas of faster loading, smart optimization and responsive adaptation to name a few.

Gyandip Bhuyan, Sr. VP - Sales, Marketing and CRM said, "The launch of new website is in line with our vision. The mobile-first version launch is backed by significant data that today consumers spend more time on their mobile phones. Thus it only made more sense to address this audience and engage them with the brand in a format that they will appreciate and accept. The research insights implemented stand testimony to the changing trends in online medium that is evolving everyday and we have laid special emphasis on minimizing gaps between the user and the interface by offering a friendly user experience."