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."

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.

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.