Embassy and Taurus Investment Join Hands for Landmark SEZ Development in Trivandrum

Embassy through its entity Embassy Property Development Pvt Ltd, has entered into an agreement with Taurus Investment Holdings, a Real Estate Private Equity Investment and Development Company headquartered out of Boston, Massachusetts, U.S. to form a joint venture called Winterfell Realty Private Limited to develop an SEZ property in Trivandrum, Kerala.

This will be Embassy's first project in the State and it will be known as Embassy Taurus World Technology Centre, Trivandrum . Embassy will have an equity commitment of 49% while Taurus Investment Holdings will hold the remaining 51%.

The partnership entails an economic interest of 50:50 for both entities in the Joint venture. This partnership strengthens Embassy's Commercial office space portfolio and development of SEZs in key strategic locations.

Embassy Taurus World Technology Centre will be constructed within the existing Techno Park primarily on a 10-acre SEZ land parcel, as part of a mixed-use development spread across a total of 20 acres. The office component will encompass 2.3 mn sq feet i.e. 65% of the total area of the larger project, with the rest to be developed as retail and a hotel. The 1st Phase of office development comprises of 1.4 mn sq feet office space, and is expected to be completed within 24-30 months.

The land parcel will be leased from Techno Park for a period of 90 years, with an additional renewal option of another 90 years. The 2nd phase will be launched subsequently based on the leasing velocity, with a projected total completion period of 60 months. Brookfield Financial advised on the transaction.

Commenting on the formation of the Joint venture, Jitu Virwani, Chairman & Managing Director, Embassy, said, "The establishment of SEZ in India has been envisaged as an important strategic tool to expedite the growth of international trade and services. We are committed to be a part of this significant growth, with our exclusive SEZ project developments across locations. Our partnership with Taurus Investment Holdings fosters this vision, and marks our foray into the state of Kerala. Embassy Taurus World Technology Centre is strategically located and has tremendous potential, with well-known firms planning major developments in the region. The great synergy we share with Taurus Investment Holdings, will help us nurture a longstanding relationship with them."

Ajay Prasad - Country Managing Director, India - Taurus Investment Holdings LLC said, "Taurus has a legacy of more than four decades of successful investments across countries. Real estate is a focused play and we have been on the constant lookout for a suitable strategic partner for this venture. We are excited to begin a new chapter in our history in partnership with Embassy, which is a well-established developer in India with unmatched expertise in office development as well as a class-leading client portfolio. Together, Taurus and Embassy will develop a landmark project in a very exciting new market."

Rustomjee Paramount Receives Occupancy Certificate for A and B Wing at Khar (West)

Rustomjee Group has received the Occupancy Certificate for the A and B wing of Rustomjee Paramount, Khar (West).

Rustomjee is renowned to be a 'thoughtful developer' and for good reason; they create not just impeccably designed structures with the best quality construction and stylish interiors but also create a lifestyle that is superlative in every way. 

Rustomjee Paramount is one of the largest developments in Khar and also probably the only gated community project in the Khar-Bandra area.

It's strategic location makes it perfect for everyone - the busy executive who wishes to avoid traffic snarls and reach work on time, the lovely lady who seeks out shopping and leisure establishments, the children and youth who can have access to the best educational institutions a short distance from home and the senior citizens who are secure in the knowledge that hospitals and medical facilities are close by.

Besides, there are the multi-storeyed towers themselves which are an architectural masterpiece designed by renowned architects Sanjay Puri from Sanjay Puri Architects, Mumbai and Patty Mak from Suying Metropolitan, Singapore.

Each floor has been designed so that there are only two apartments on a floor, allowing one the luxury of privacy as well as the option of establishing good neighborly ties. In variants of 3 and 4 bedrooms, the apartments offer breathtaking views and spacious sun decks. The interiors are a work of art with flooring and fixtures sourced only from the best companies that create an aura of luxury and comfort

A gated community offers its residents the advantage of being around like-minded individuals. At the Rustomjee Paramount there are several opportunities to socialize, thanks to the extensive amenities that have been thoughtfully provided.

These include the Saltwater swimming pool which is more effective and hygienic than a chlorinated pool; Kids pool with anti - current flow which adds to the fun; Aqua gym - a facility for low impact aerobic workout partially submerged in water, walking trails, Gymnasium, Business Centre, Resting Pavilion, Concierge services, Party Lawn, Mini Theatre, Sand Pit, Toddler studio, Yoga deck, 

Artificial Rock Climbing Wall for kids, Alfresco sky lounge that affords a rooftop dining experience with sea view, Star gazing deck that inculcate love of the cosmos in children, Pool deck; Luxurious cabana, Senior citizens' zone; Indoor games room; the list goes on and residents are absolutely spoiled for choice.

At the core of planning the amenities and homes, lies one central thought process - the creation of 'My Space' for the residents. Rustomjee's My Space concept strongly advocates the need of every individual to follow their own passion and interests. In the 'rat race' to ascend the corporate ladder, many have sacrificed their hobbies at the altar of success and My Space inspires them to reclaim those lost interests and bring a new dimension to their lives - one that is stress free. My Space represents the understanding that Rustomjee has, of what their customers truly want and desire - not just a home with four walls but an opportunity to reclaim life.

Security is a major concern of all these days that that is where one finds the advantage of living in a gated community, not only are the residents known to each other and have developed friendly relations, but the children are safe as well. There are CCTVs in the children's zone connected to all the homes so that parents can keep an eye on the children. In addition, for further safety and security, there is a provision for RFID tags for children and pets.

Throwing light on the OC received for A and B Wing of Rustomjee Paramount, Percy Chowdhry, Director, Rustomjee Group said, "Rustomjee Paramount encapsulates everything that Rustomjee stands for. We believe in not just creating brick and mortar buildings but homes that are an experience in themselves, bringing all the trappings of aspirational living to the residents that will elevate their standard of living. All our projects are registered under RERA and in fact, the A and B wings of Rustomjee Paramount have received the OC so our customers can enjoy the pleasure of living in an exclusive gated community without having to stretch their budgets to pay GST."

Property Management Start-ups to the Rescue of NRI Investors

Periodic inspection of properties, assured care and rental assistance make companies such as Rentprop4u a hit with those away from home

If there is one reliable thing NRIs have always vouched for and continue to invest in, it is property back home in India. Bengaluru, Kochi, Mumbai, Ahmedabad and Delhi have been investment hotspots. However, the lucrative investment comes with strings attached - how does one know their tenant is good, that their house is not damaged in their absence, or what if the tenant calls them from across the seas to get a plumbing problem fixed?

Being so far off, and rarely visiting their hometowns, NRIs now are turning to property management companies to take care of the nitty-gritty of their treasured properties.

Rentprop4u, a Bengaluru-based realty start-up, says it has seen an almost 60 per cent increase in the number of enquiries over the past one year from NRIs in Australia, US, Canada, New Zealand and the Gulf. The company helps NRIs realise the full potential of their real estate investments. 

"Usually, NRI homeowners are worried about things like finding the right tenant quickly, showing the property, tenant vacation hassles and legal implications, rent variation, lack of tenant screening and house maintenance, dependency on brokers and inability to inspect the property during tenant stay," says Nagaraju M, CEO, Rentprop4u.

Nagaraju lays out the current details, very specific to NRIs - nearly 25 per cent of apartments in Bengaluru are bought by NRIs. In Kochi, it is about 40 per cent. Investment by NRIs in other cities such as MMR, NCR, Ahmedabad, Chennai and Dehradun varies between 5 to 10 per cent of the overall market sales.

According to the 2011 census of India, out of the 90 million residential census units, 11 million units were vacant; that is about 12 per cent of the total urban housing stock. And a lot of homeowners prefer to let their investments lie idle rather than face the trouble of letting them out.

Nagaraju speaks of how companies like his have now become popular with NRIs, because they offer 100 per cent property assistance - including rent assistance, rental agreements and payments, maintenance, quarterly inspection of properties with photographs taken and sent to owners. They also offer niche on-demand services such as furnishing and payment of property taxes.

Rentprop4u takes care of one other worry for NRIs - safety - through tenant screening and background verification as well. They do a police verification of the tenant through their legal team.

Established in 2016, Rentprop4u currently has 200-plus registered properties and more than 400 users. Be it a single property or a large portfolio, the company is so confident of its tenant placement services that it guarantees to let out the property in less than 30 days or start paying the rent to the owner within a month.

"We give them 15-20 per cent higher returns compared to brokers, so NRIs find our deals attractive. We can assure uninterrupted rent payments to property owners even when some of the properties are vacant for short periods," he adds.

Shree Krishna Group Unveils Ready-to-move-in Properties in Chembur

Mumbai-based Shree Krishna Group, one of the leading developers, has unveiled limited inventory at its Eastern Winds project, with 1 & 2 BHK apartments starting at Rs. 94 lakhs.

The project, which is a freehold property with a gated community, offers spacious 1 & 2 BHK air-conditioned apartments at a prime location i.e. off Priyadarshini Circle, Chembur.

The project offers 7:93 Subvention scheme, making it easier for first time home buyers to move in. The ready-to-move-in apartments at the property offer the best infrastructure and easy connectivity. 

This residential area is now witnessing an increase in population, owing to the development of transport infrastructure such as the Santacruz-Chembur Link Road (SCLR), the Eastern Freeway, the monorail from Chembur to Wadala and the proposed elevated road from Bandra-Kurla Complex (BKC) to Sion, thereby reducing the travel time.

Sundeep Jagasia, Director, Shree Krishna Group said, "We have reduced the pressure of payment by introducing the subvention scheme 7:93 for our Phase 2 of construction which has already completed 70% of the work and possession is due in July, 2018. Phase 1 is ready-to-move-in and O.C was obtained in April, 2017. Also, with this project, one can reach south Mumbai, BKC, the western suburbs or Vashi within 20-30 minutes. "

It is a good to own a home in Eastern Winds, which offers air-conditioned apartments with the finest modern amenities, which suits the needs of an end user and has a great connectivity as it's located a minute away from the Eastern expressway off Priyadarshini Circle.

The 1 & 2BHK air-conditioned apartments are in the size-range of 434 sq. ft. carpet to 659 sq. ft. carpet area constructed using the latest and fastest construction technology. Eastern Winds offers a wide range of amenities which include garden area, gymnasium, library & coffee area, senior citizen sit-out and yoga & meditation corner. In addition, the sheer value homes include invaluable specifications with zero compromise on all fixtures and amenities.

Other ongoing projects by Shree Krishna Group in Chembur include Amrita Prive, Rajeshwari, Udya Bhavan, Bellavista and Krishna Niwas.

Omkar Realtors Registers All On-going Projects Under RERA

Mumbai-based Omkar Realtors & Developers (Omkar.com), a leading real estate firm in the luxury development space, has complied with Maharashtra state's housing regulator Maharashtra Real Estate Regulatory Authority  (RERA) by timely registering all its projects with the authority.

According to Devang Varma, Director, Omkar Realtors, "All projects on offer are either RERA compliant or have received an Occupation Certificate. This is a major confidence booster for our widespread existing and prospective customer base across domestic and global markets. We expect the faster turnaround in customer conversion, especially in the overseas markets. RERA is a pro-buyer Act and said to make the process of buying and selling of houses transparent and faster."

Devang Varma

Omkar Realtors' India inventory portfolio spans across South Mumbai and city's western suburbs. It includes the company's flagship and uber-luxury development, Omkar Worli 1973 with 3 towers (up to 300 meters) offering world-class services.

Other developments include Omkar Alta Monte, the largest luxurious gated development in North of Mumbai, located on the Western Express Highway, Omkar Meridia and VIVE, which are adjacent to Mumbai's leading business hub Bandra Kurla Complex (BKC), Signet - a low-ticket sized luxurious boutique apartments, adjoining Alta Monte. Omkar's offering in commercial space The Summit Business Bay (TSBB), located next to Western Express Highway in Andheri East offers best-in-class business office spaces.

Currently, Omkar Realtors has a 4,000-strong customer across Mumbai and India's western, northern markets. The brand 'Omkar' has witnessed a strong growth path with investors and retail buyers in GCC markets, US, Hong Kong, Singapore, Kenya, Australia, and UK markets.

Omkar's residential projects enjoy collaborations with the likes of the UK-based Foster + Partners (architecture) for Omkar 1973 Worli and US-based Callison (architecture) for Omkar Alta Monte.

Omkar has already delivered 13 projects (including 2 commercial) and carried out 20 million square feet construction in India's premier real estate market and is currently working on an upcoming 40 million square feet space of deliverables.

Raheja Universal Receives OC For 4th Project In A Row Before Deadlines

Mumbai-based developer Raheja Universal has beaten the RERA and GST deadline and received an occupancy certificate for Raheja Exotica - Sorento, the 4th phase of their ultra-luxury project Raheja Exotica located at Madh Island. ‘

Sorento had the delivery date of October 2017 but received its OC in April 2017 itself, a company press release claimed.

As the project has received the OC, customers buying a ready-to-move-in property from them will not have to pay service tax and VAT (or GST, as and when applicable) which amounts to a saving of a minimum of 5.5% on the base cost.

Expressing his views on the same, Ashish Raheja, Managing Director, Raheja Universal, said, "Raheja Exotica - Sorento is an offering that brings together our years of experience in combining great quality and superior offerings along with exotic locations that provide the buyers an experience that is unparalled. This project evangelizes the second home concept to buyers who get the advantage and benefits of a city, sans the perils that come with a home situated outside the city.

He added, "The principle of delivering on time and keeping our buyers happy is something we constantly strive for as is reflected in our other projects that have been completed well within the promised deadlines. Raheja Universal has benchmarked luxury living concepts and continues to go all-out in delivering homes that enhance the lifestyle of our customers."

'Raheja Exotica - The Ocean City' at Madh Island, Mumbai carves out one of Mumbai's most luxurious edifice 'Raheja Exotica - Sorento' in the midst of an entire township project developed across 22,000 sq.mt. of magnificence. The opulence is mirrored through an elegant designer cluster of ownership villas, condominiums and modern styled apartments. 'Raheja Exotica - Sorento', has a fresh grandeur breathing beauty and serenity beyond the fast and furious pace of life.

With state-of-the-art amenities, 'Raheja Exotica - The Ocean City' is well connected to the mainland. The serene expanse of the Madh Island is mapped and connected to Versova by ferry, along with 25 minutes of drive through greens by road from Mindspace, Malad (W). “

With life and infrastructure in Mumbai getting upgraded at a fast pace, there is a proposed bridge connecting Versova to Madh reducing the travel time of the affluent travellers' to half. Also, the proposed Coastal Road is perceived to make south Mumbai more accessible and bring Madh Island even closer to mainland Mumbai.

Equipped with 37 amenities in five demarcated branded zones to provide a holistic lifestyle, The Ocean City promises consistent extravagances in all aspects. The amenities provided to residents in the project include operational club house, swimming pool, rejuvenating spa, squash court, Cafe Lagoona, gymnasium, well-equipped business centre, multipurpose banquet, games room, high-end security services, 24/7 assistance, housekeeping and laundry, food court with kitchen, supermarket, medical centre etc. The five zones include Ocean City park, Club Exotica, Vista - The Sky Avenue, Score - The activity zone and DownTown - The town centre.

For a lifetime experience and to retire into the lap of luxury, the twin towers of Raheja Exotica - Sorento create extravagance with hi-rise above 36 storeys into the sky. The towers with 376 apartments are spacious and perfectly styled in configurations of 2 BHK (843 sq ft carpet onwards), 3 BHK (1119 sq ft carpet onwards) and 4 BHK (1828 sq ft carpet onwards) apartments that promise to give a spectacular view of the calm and peaceful Arabian Sea.

The modestly priced luxurious project offers 2 BHK starting from 1.85 Crore. Spacious 3 BHK is listed at 2.25 Crore and 4 BHK in the grand scheme of design stands at 3.33 Crore onwards. It is specifically designed by keeping the second-home concept in mind pleasing the achiever and affluent.