ANB Capital Merges with Anuj Puri’s ANAROCK Property Consultants

ANAROCK Property Consultants and ANB Capital Advisers today announced the formal merger to create ANAROCK Capital, which will be headed by Shobhit Agarwal as MD & CEO.

Anarock Property Consultants was launched by prominent real estate consultant Anuj Puri while ANB Capital was headed by Shobhit Agarwal as MD & CEO.

The ANAROCK Group’s residential services division has already defined itself as India's leading, fastest-growing and most disruptive consultancy in the industry. With the addition of the Capital Markets vertical, ANAROCK takes a major step forward towards its ambitious expansion plans.

"The Indian real estate market is in its next evolutionary stage, and perfectly primed for ANAROCK Capital. The firm will fill the massive real estate investment banking advisory gap that exists in a market completely redefined by RERA in terms of how the market operates and who will operate it going forward. Among several other functions, ANAROCK Capital will advise on big-ticket funding, acquisition and consolidation mandates. Shobhit's vast experience and deep-rooted industry relationships will come into play with immediate effect. I take particular pride in announcing the second merger of equals in my professional life - and more are to follow," says Anuj Puri, who will be the chairman for the new entity.

Shobhit Agarwal has been a prominent deal-maker in Indian real estate capital markets for over two decades and looks forward to taking the massive stakes involved to the next level.

"Our capital markets team consists of well-honed industry experts who are adept at handling multi-million-dollar capital mandates" says Agarwal, who has already traded capital in excess of US$ 10 billion in his previous assignments.

"Leveraging the ANAROCK Group's tremendous market penetration and superb operational infrastructure with 10 operational offices in India and 1 in Dubai, ANAROCK Capital will lead the real estate investment banking business from the front. There is over US$ 150 billion of capital to be traded in Indian real estate over the next 5 years - and with our collective expertise, existing exposure and resources, we are perfectly poised to capture a major share of it," he adds.

Building on ANB Capital's existing strengths and expertise, ANAROCK Capital will provide services in real estate investment banking, financial management of big-ticket mergers, acquisitions and restructurings. The firm already provides capital advisory services to some of the country's leading corporations, institutions and state governments, based on a unique business model that eliminates the conflicts of interest inherent to large, multi-product financial institutions and multi-vertical international property consultants.

Shapoorji Pallonji to Make a Mark in Mulund with residential projects

Leading real estate developer in India Shapoorji Pallonji Group has decided to  develop residential project in Mulund, targeting real estate enthusiasts and home buyers from Mumbai and adjoining areas. 

This upcoming project's development and marketing will be managed by Shapoorji Pallonji Group's real estate faction, in collaboration with Nirmal Developers.

Mulund - A blessed suburb 

The location of the project is probably enough to get the home-buyer to reach halfway towards an agreement. Mulund, also known as the prince of the suburbs, has been bestowed with the best of geography with the existence of the pristine Yogi Hills and the Sanjay Gandhi National Park.

For long now, the Sanjay Gandhi National Park has been a weekend/picnic that many Mumbaikars have taken a liking to. It depicts the nature perfectly with dense trees, plush greenery, and an artificial lake where boat rides can be enjoyed. One of its popular rides called the 'van rani' and a walk up to the Gandhi Tekdi are two other good reasons why this spot is frequented by many age groups.

Needless to say, Mulund is very convenient in terms of infrastructural facilities. From educational institutions to shopping malls, Mulund is perfect for a polished lifestyle.

Mulund is a proud suburb that houses a cosmopolitan mix. Many age groups can find their idea of leisure outing here. There are temples and parks for the middle aged while the young guns can frequent the malls, cafés and cineplexes.

The suburb has also contributed to the economic growth with various industrial factories and pharmaceutical companies like Hoechst, Wellcome, Glaxo, Merind and Johnson & Johnson; not to forget, the various engineering companies boasting of their addresses in the prince of the suburbs namely Bombay Oxygen, Chicago Pneumatic and ACC.

Connectivity has been another trump card for the city's economic development with Mulund's railway station, the Eastern Express Highway and LBS Marg.

Today, old constructions are making way for newer prospects and there is a spurt of new malls and movie theatres. Korum Mall & R-Mall have remained as some of the most favoured shopping complexes amongst the middle-class and upper-middle class crowd. The people's ever favourite D-mart can also be found in this suburb along with one of the world-class hospitals, Fortis Hospital.

Why is Shapoorji Pallonji investing in Mulund? 

Being a pioneer in the field of real estate, Shapoorji Pallonji has indubitably had a hawk's eye vision for good locations. Many of their projects are constructed in what one could call, 'lifestyle-friendly' locations like Howrah, Bengaluru and Pune. It's no surprise that they have envisioned an edifice in Mulund, one of Mumbai's leading suburbs. This upcoming project's development and marketing is managed by Shapoorji Pallonji Group's real estate faction, in collaboration with Nirmal Developers.

Rustomjee Launches New 2BHK Homes in Thane (W) with Special Payment Scheme

Rustomjee Group has launched new residential township ‘Rustomjee Urbania’ with modern amenities at the upscale and happening Majiwada Thane West.

The skyline of Majiwada Thane has been dotted with high-rise towers that not only are privy to the facilities of the township but boast of exclusive amenities as well.

The Azziano towers of Urbania will have 32 podium level amenities which include gymnasium, mini golf, indoor play area, alfresco dining, mini theatre, business centre, box cricket, basketball, senior citizen's relaxation area among others.

The high rise towers have adequate provision for parking and an enviable view of the Yeoor Hills and Thane city. This is the perfect investment opportunity as not only are all the approvals in place but one can also save 2.5% on stamp duty as per special approvals from Thane municipal authorities. All this comes at a very reasonable price of Rs.99 lacs + Taxes for the 2BHK aspirational homes. 

Moreover, Rustomjee has introduced a special 10:90 subvention scheme wherein buyers need only pay 10% + taxes now and no pre EMI till November 2019 or possession, whichever is earlier.

The Azziano Towers are one of the most premium set of residential towers in Rustomjee Urbania. The township is not only a self-sufficient entity but is strategically located so that residents find ease of commute and living. It is just off the Eastern Expressway, approximately 4.7 kms away from Thane station and about 8 kms from Airoli. In addition, there are several corporate parks in the vicinity as well as hypermarkets and shopping malls like Korum and Viviana.

Speaking on the launch of the tower, Percy S. Chowdhry, Director, Rustomjee Group, said, "We at Rustomjee have always put our customers first and want to offer them the best amenities to experience an upgraded lifestyle. At Rustomjee Urbania, and the Azziano Towers in particular, we have taken care to ensure that every member of the family will feel comfortable and experience an elevated standard of living. For families with young children, Urbania is ideal - after all here 'Childhood's Available'."

About Rustomjee Urbania

Located in Majiwada, Thane (W), Rustomjee Urbania caters to almost every need of a resident. It is the only township in Thane (W) that has received Pre-Gold Rating from IGBC (Indian Green Building Certificate) and is probably one of the most awarded township projects in India.

Rustomjee Urbania houses the Rustomjee Cambridge International School, the first school in the integrated township. Affiliated with International General Certificate of Secondary Education (IGCSE) Program of University of Cambridge, it makes a global level of education available to students, at walking distance from their homes.

How RERA Protects Home buyers from Errant Builders

The Indian real estate industry, particularly the residential sector, was in the past correctly characterized as being unregulated and unorganized with unreasonable project delays and poor quality of construction being definitive aspects.

The arrival of the Real Estate Regulatory Act (RERA) in March 2016 brought in a paradigm shift in the sector and metamorphosed it into a more mature, systematic and regulated one. RERA came into force on May 1, 2017, and is meant to be a homebuyer-friendly regime which will address their grievances and promote transparency, efficiency, financial discipline and accountability in the sector.

Indeed, buying a home is not only the most cherished dream for many Indians but also one of the biggest long-term financial commitment in the buyers’ lifetime. Considering this, there are 14 important guidelines incorporated in the RERA umbrella to prevent unscrupulous players from raining on consumers' homebuying plans:

1.  Enforcing timely delivery of projects: In case of project delays, buyers have the right to - (i) Seek withdrawal of booking (the developer is liable to refund the entire amount along with interest)

(ii) Go ahead with the project (with the condition that developer will pay interest for every month of delay until the property is ready for possession). The maximum time for refunding the buyer's investment is with in 45 days of it becoming due.

2.  Facility to check RERA registration number: All builders have to mandatorily register their projects under RERA with the respective state regulatory authority and obtain a registration number for every project. Without RERA registration, developers are not allowed to sell the project. The project details, construction progress, commencement/occupation and other certificates, sales details, etc. must be updated on the single-point information window i.e. RERA portal, at regular intervals.



3.  Financial safety via an escrow account: Homebuyers’ investments can be considered safe, as RERA obliges developers to deposit at least 70% of the buyers' money received for a particular project into an escrow account. This prevents the developers from 'rolling' these funds into other projects. The rolling of funds was a major reason for project delays in the past.

4.  Ability to verify the builder's track record: Buyers can now opt for properties only from reputed developers who are complying with RERA norms and have a good track record and financial stability, which can be verified by buyers.

5.  Transparency in advertisement and marketing collaterals: Developers can now promote a project only after registering it with RERA. The unique RERA registration number has to be published with every advertisement/brochure, or in any kind of project promotion at all.

6.  Clarity on carpet area: The hitherto conventional practice of developers charging homebuyers on the basis of the super built-up area no longer works. Under RERA, the quoted price has to be mandatorily based on the carpet area of the property. What you see is what you get (and buy).

7.  Strict norms on building changes: Around 2/3rd of the buyers’ consent in a particular project is necessary in case the developer intends to modify the building or layout plans/specifications/liabilities in the project.

8.  Facility to check payment plans: Homebuyers can do due diligence before opting for a particular payment plan, a variety of which developers now offer - including flexi-payment, down-payment, possession-linked and construction- linked plans.

9.  Booking amount cannot exceed 10%: Developers can only take 10% of the total property cost as a booking amount while the sale agreement is drafted at later stages. RERA prohibits developers to accept more than this. If guilty of charging more than 10%, the developer potentially invites a penalty of imprisonment of up to 3 years.

10. Brokers must be registered under RERA, too: As service providers to real estate consumers, property brokers are also liable for all deliverables committed by the developers they represent. Hence, they must register themselves with their respective state Regulatory Authorities.

11.  At long last, a reliable redressal mechanism: RERA provides a strong redressal mechanism to consumers by imposing a penalty on developers/brokers for any breach of obligation. Homebuyers can file complaints against developers/ brokers which will mandatorily be resolved in a span of 60 days from the date of the complaint.

12.  Structural defects must be addressed: In case of issues within the building or apartment, such as inefficient plumbing, visible cracks, etc. in the initial five years after possession, developers are liable to rectify the defect in less than 30 days or else give compensation to the buyer.

13.  Availability of land title documents: These vitally important documents were, more often than not, inaccessible to buyers before RERA. Now, they can scrutinize documents related to a project's land title ownership on the RERA website.

14.  Goodbye to soft/pre-launches: RERA has put a complete halt to soft launches, pre-launches and any other interpretations of selling something which doesn't exist as yet. As a result, speculators have now been pushed out and the market has turned extremely buyer-friendly.

Overall, RERA is a boon to the homebuyers. While the progress of RERA implementation across states, barring a few, is going at a slower pace than predicted, it is definitely regaining the trust of homebuyers by consolidating the sector and plucking out unscrupulous real estate players.

Know your rights and get protected from fraudulent activities of builders. RERA will protect home buyers from delay in possession or any issues with the property.

Author: Anuj Puri, Chairman - ANAROCK Property Consultants