Mantri Developers launches first row house project in Bangalore

Bengaluru: Mantri Developers, the leading real estate developer in south India, has launched Mantri Courtyard – the first row house project of the company, which provides private courtyard for every home.

Located on a hillock off Kanakpura Road, Mantri Courtyard is build to cater to the increasing demand for world-class homes in Bangalore. The landscape of the project has been innovatively designed using the natural slope of the hillock with the architectural expertise honed by years of Mantri Developers' experience.

Mantri Courtyard situated just one kilometer away from nice road junction in the midst of nature and with close proximity to business districts, educational institutions and commercial establishments in the city. The project offers 174 Independent residential Row Houses, offering 3 and 4 BHK homes ranging from 157 sq.mt to 324.69 sq.mt with price starting from Rs. 1.08 crore onwards.

Mantri Courtyard comprises one of its kinds contemporary private row houses encumbered with all modish amenities. The project is for the modern day upbeat families, keen to escape from the cities grind and enjoy a serene lifestyle surrounded by rejuvenating green ambience.

Each row house has warm distinctive design character with a private green space. The living rooms are inimitably designed as reticent garden rather than an interior space. The project embraces a classical modern architecture, which aesthetically combines traditional architectural elements with progressive modern structural design, giving it multi-disciplinary and special experience.

Commenting on the launch of Mantri Courtyard, Sushil Mantri, Chairman and Managing Director, Mantri Developers Private Ltd said, "We are delighted to launch Mantri Courtyard, after launching row-house project in Hyderabad and Chennai this is our first row house project in Bangalore. It brings a distinctive concept of providing personal green space to every resident coupled with state of the art amenities, which make it a viable choice for those who desire to lead a world class lifestyle."

The project also boasts of a luxurious clubhouse sprawled over 1453.93 sq.mt and offers all the modern day amenities like a Swimming pool, Health club, Multipurpose hall, Gymnasium, squash court, Table Tennis and Pool Table, Mini theatre, Karaoke, Dance/Aerobics and meditation hall, telemedicine, Steam, Sauna and Massage room, Outdoor party area and many more premium facilities.

Dearth of skills affect India's infra sector

K Ramanathan

India’s infrastructure sector is in peril, it seems. If the recent reports released by a top industry body and a leading international consultant to be believed, the sector, where billions worth projects are underway across the country, is facing a significant dearth of skilled workers, which includes project management professionals, engineers, safety experts and planners.

While industry body ASSOCHAM has estimated that the sector needs one million project management professionals, a joint report by Project Management Institute (PMI) and global consultants KPMG, said that the sector should add three million worker force, from project managers, planners to civil engineers, surveyors and safety experts by 2022.

The ASSOCHAM report, ‘Road Sector Role in Futuristic Development of India’, gave a thumbs down to the existing staff in the sector as most of them, according to the survey, in infrastructure construction space are not trained properly to handle big projects..

“Infrastructure sector is a project-oriented industry and has cost runs in several billions of rupees. So, project management should be high importance which connects all concerned department of the construction industry for a smooth execution of projects,” said DS Rawat, secretary general of ASSOCHAM.

He also said, “As the projects in infrastructure sector are becoming increasingly complex they require optimizing allocation of resources and coordination with multiple vendors which require professionals having project management skills.”

With dozens sub-contractors and contractors, thousands of workers and hundreds of vendors spread across miles of project site, some should be there to coordinate with all of them and in the absence of such system, the projects face unique set of challenges that generally lead to severe delays and cost overruns.

Blaming that severe skill shortage and the growing demand-supply gap for qualified construction professionals are affecting the sector, PMI India’s Managing Director Raj Kalady said, “People are not preferring this profession but set their eyes on more lucrative fields like IT, financial services etc. So, the sector has the dearth of qualified professionals for the safe completion of several projects across the country.

According to government estimates, over 550 infrastructure projects across India are facing huge escalation in overall project costs to the tune of about Rs two lakh crore due to a series of factors like environmental rules and regulatory approvals, land acquisition and shortage of skilled, well trained, competent and certified specialists in infrastructure sector like engineers and other professionals.

In its study, the ASSOCHAM has suggested that the country should enhance the quality of vocational training and education as per the demands of the sector. To meet the talent crunch for highly critical jobs, many firms are now hiring foreign nationals having professional degrees. Many organisations are also looking at short-term training camps to enhance the skill sets of their project teams.

"The Government has not realized the urgency of meeting the shortage of skills. During the 12th Plan (2012-17), the Government will take steps to improve project management skills among the existing employees and new recruiters. But at the same time, there is also a pressing need for industry and academia to introduce project management into their studies," Kalady said.

Buying property in Gurgaon Ext

Touted as an emerging real estate hotspot in the Delhi NCR, Gurgaon Sohna Road is the cynosure of all eyes. One of the fastest growing stretches on the outskirts of Gurgaon, Sohna, which has acquired the name of ‘Gurgaon extension, is the place for residential and commercial developments in the coming days.

As real estate in Gurgaon is at its peak after having experienced a boom, the next destination developers and investors are looking at is the fast developing Sohna. The area offers all types of housing – LIG, MIG, affordable, luxury, super-luxury, duplex, independent, et al.

The boom in this area’s real estate market is mainly because of fast upcoming modern townships and industrial developments at various sectors of Gurgaon and also the increasing number of industrial model township (IMT) projects at places like Dharuhera, Manesar and Bhiwadi.

According to industry experts, After Gurgaon, Gurgaon Ext, as it is called, will be the next real estate destination in this region and the superior demand to commercial and residential spaces is testimony to this claim.

Gurgaon extension has a variety of segments to offer for realty seekers on either side of the road such as residential apartments, commercial spaces, villas, group housing townships, retail and IT parks.

Leading real estate developer Raheja has a large chunk of land, which they have acquired in 2009-2009. Perhaps they are one of the first among many to launch a project named Aranya, on a land bought under the old master plan. Planned to be an integrated township, the site is close to IMT in Sohna where a 1,700-acre industrial estate is going to be put up by the Haryana government.

On investment point of view, one would get double his/her ROI once IMT Sohna becomes a reality. Since, Delhi-Mumbai dedicated freight corridor is close by, and coming up of all infrastructure and mega industrial estate along the KMP corridor will add more value to the investments here.

Another major realty player who will be launching their project shortly is Gold Souk Group. They have a huge land bank here and will soon come up with multiple projects. “The new realty hub is ideally located with Gurgaon and Faridabad can be reached at ease. With the KMP Expressway linking NH8 to NH2, the trio to witness real estate boom in the coming days,” says Ashish Gupta, Joint MD of Gold Souk Group.

ILD International Land Developers will soon launch a residential project here. Central Park and Avalon are the other developers who are planning residential projects in the Gurgaon Extension belt.

Accessibility and connectivity are the two major factors attracting builders to launch their projects on this long stretch. Occupants can also enjoy panoramic view of the Aravalis and enjoy the nature.

Due to its accessibility from the Golf Course Road, NH-8, the Delhi airport, Delhi and other NCR localities as well as for its good connectivity with forthcoming KMP Expressway, several new projects are being coming up along the Gurgaon-Sohna Road.

“Southern Peripheral Road, which connects NH 8 to Golf Course Road and South Delhi is being made. The proposed IMT Sohna will be the next big industrial park in the area after IMT Faridabad and IMT Manesar. Over and above, the master plan for Gurgaon Extension (Sohna), which has been announced recently, will provide a logical expansion to the Gurgaon realty.

Well connected to Educational institutes in Gurgaon like KR Mangalam University, GD Goenka etc., Gurgaon ext will be beneficial for potential residents with the presence of MMTC Refinery adding up to the development. Also, the Gurgaon Extension has emerged as a location for affordable housing for LIG and MIG sections. ‘These developments will surely create a lot of interest here,” says Ashish Gupta, JMD, Gold Souk Group.

To make the area a new real estate hub, HUDA has prepared a new road map for Gurgaon-Sohna Road, which was built in 2008, to ease the traffic movement. The existing road will be widened to 60 metres and a footpath will be laid on both sides of the road.

How To Succeed In Property Investment

The likelihood of suffering a loss is greater if a property investor does not have a good idea of the state of the local property market,feels Kishor Pate, CMD, Amit Enterprises Housing Ltd.

Getting into real estate investment without a proper understanding of what you aim to achieve is not advisable. There are many risks involved in real estate investment. However, with the right data and advice, you can definitely succeed in property investment. Here is a general blueprint.

To begin, you should know what the odds are. The fact is that the chances for inexperienced property investors to either succeed or lose a lot of money are more or less evenly balanced. The likelihood of suffering a loss is greater if the investor does not have a good idea of the state of the local property market.
Before investing in property, make sure that you have enough insurance. Many investors who have succeeded in the property arena safeguard their investments by floating a nominal limited liability company for their activities. This is certainly an option, but not really a necessity unless you are playing for very high stakes and investing in multiple properties.

Advice To End-User Investors

Property investors actually fall into two broad categories: end users and pure investors. That's right - even end users can technically be described as investors in some cases. These individuals seek to make a percentage of profit on properties that they are themselves occupying. This may involve partial rental or sale of a home or office, retail or factory space. This is not a very common practice, and is usually seen only in cases where the the property is of larger proportions and the part being being rented out or sold would otherwise remain idle and non-productive.

More commonly, an end user seeks to sell the entire property. This is usually done for reasons other than returns on investment - the seller may be seeking larger or more luxurious premises, may be in the process of relocation, or may not be satisfied with the property for other reasons. There may also be a need to downgrade on certain expenses such as maintenance costs. If the sale of such a property is need-based, the profitability usually reduces since the seller needs to cash in within a limited period.

The kind of profit an end user can make on the sale of a property depends on the age and state of the property, its location and its inherent value on the market. A residence purchased five or ten years ago will have appreciated in value for the simple reason that property rates are constantly increasing. The value of the property will be even higher if the location is one in high demand. However, the price that a property which was in use until the time it is put on the market will  fetch also depends on whether or not it is well maintained, whether or not the owner upgraded certain features to make it more attractive to buyers, etc.

Advice To Pure Investors

Exclusive or pure investors buy property for the exclusive purpose of earning a profit on them; they do not utilize the estate personally. The properties in question can be residential (flats, bungalows, row houses, duplexes, etc.), commercial properties (offices, factory sheds, etc.), retail (e.g. mall space) and non-developed or partially developed land.

Pure investors have a better chance of making a profit in their dealings simply because their options are wider. There is also no immediacy or urgency involved, since the basic objective is profit. Since they do not intend to occupy the premises themselves, they can rent out the property until the time when they intend to sell it off at appreciated rates.

Investors of this kind should keep certain guidelines in mind:

• Location is everything. Even if rates are steeper in a preferred area, go for it. It will pay rich dividends in the final analysis
• It is always more profitable to invest in properties under construction or still in the planning stage. By the date of actual completion, rates will tend to be higher
• If one chooses to invest in residential real estate, the first preference should be towards flats that are located on the first floor. They should offer a good view and ventilation and, ideally, the use of a swimming pool, clubhouse and other trendy facilities. They should also be backed by adequate parking facilities. Most buyers do not make compromises on this last factor, even if they give consideration to the others
• Choose to invest in properties by reputable developers. The very name of a famous builder makes a definite difference on the bottom-line of the sales deed.

A quick note on ready for possession properties. Certain dynamics of the property market remain constant, so a profit is still possible. However, a 'readymade' property bought for the purpose of investment will have to be given sufficient time to appreciate in value. Also, certain modifications specific to a potential customer's needs may have to be made. The cost that this involves would have to be adjusted in the final amount.

Finally, if you are new at property investment and are utilizing a housing/investment loan in order to invest in property, ensure that the ratio of self-finance-to-loan amount is conducive to a future profit. Also, double-check all legal documents. Property investment is not a game of blind man's bluff.

Fortunes can be lost for many reasons, including spurious or incomplete documentation, faulty judgment and dealing with fly-by-night developers. There are a number of bases that need to be covered to reduce the risk factor.

Banks sell mortgaged assets as borrowers under stress: ASSOCHAM

With a sharp increase in the banks’ non-performing assets (NBAs), more and more properties and assets mortgaged to the lenders are going under the hammer while the number of possession notices published in the media has also gone up significantly, reflecting a tremendous stress in the economy, an ASSOCHAM paper noted.

“Visibly, the sale and possession notices appear more for the small sized assets mortgaged for the loans which have gone bad. Also the stress seems more in the small sized manufacturing units for which banks have been slapping the sale and possession notices,” the ASSOCHAM paper said.

However, the auction notices have not been receiving a big response, largely for the reasons of slowdown and the corporate sector being under high leverage.

It said while some banks had started publishing photographs of the borrowers and guarantors for the failed loans, others have restrained from this temptation.

“We will urge the banks to avoid publishing pictures of the borrowers since it does no good either to the banks or to the failed borrowers, a large number of whom would have failed to repay the loans for reasons beyond their control,” the ASSOCHAM Secretary General, D S Rawat said.

The possession and the sale notices are issued by banks and other lenders like financial institutions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (known more as SARFAESI Act).  These notices are for the immovable properties mortgaged with the banks.

While the assets portfolio of the public sector banks is much larger than those of the private sector banks, the number of the sale/possession notices is more by the state –owned banks, disproportionate to their assets under stress than the private sector lenders.

According to an earlier ASSOCHAM paper, the NPAs in banks could see further deterioration as the gross amount may touch five percent by the end of March 2014, As of September 2013, banks together approved Corporate Debt Restructuring (CDR) worth Rs 2.72 lakh crore out of Rs 3.62 lakh crore that came for restructuring.

Iron and steel and infrastructure sectors are the largest contributor to NPAs of the public sector banks. Besides, aviation, textiles and mining are also adding to the stressed assets.

These five sectors together contribute around 24 per cent of total advances of all banks, and account for around 51 per cent of their total stressed advances at the end of September, 2013.

“While the RBI has been making serious efforts to deal with the issue of stressed assets and its latest discussion paper encourages bank financing for takeover of the troubled businesses, the rules should be made easy enough so that the issue can be tackled in a more pragmatic manner.”

“After all, there are several cases where the businesses changing ownership have been revived for various reasons including better synergies and change of business models and other rationalising steps. All efforts need to be made to somehow revive the businesses which have either sunk or are on the brink of closure,” the ASSOCHAM Secretary General said.

According to the paper, the worst seems to be over and the situation may improve in the fiscal 2014-15, though the improvement may not be dramatic as long as the consumer confidence is restored and the investment cycle gets back on track.

For the present, it is a difficult going both for the banks and the borrowers and those who survive the troubled times will be among the winners in the medium term, the ASSOCHAM paper pointed out. 

Pune Real Estate - Importance Of Green Cover In Residential aras

The city that once rivaled Bangalore with its generous urban green spaces is now literally oxygen starved, says Anil Pharande, Chairman of Pharande  Spaces, a leading construction and development firm, on importance of green cover in residential areas of Pune.

It is generally known that abundant urban green spaces - large areas allocated to trees, lawns and all types of flora and fauna - are a major contributor to high quality living environment.

Sufficient green spaces in cities improve the quality of the air in residential areas because trees absorb pollutants such as ozone, nitric acid vapour, ammonia, nitrogen, carbon monoxide and sulphur dioxide. In turn, they provide life-giving oxygen, provide shade, attract rain and improve the aesthetic quality of the whole area, he says.

In its heyday, Pune was renowned for its generous urban green spaces. Unfortunately, the hammer of commercialized real estate proliferation has caused most of the city's green cover to vanish. Coupled with the massive traffic movement within the PMC limits, it is not surprising that so many Punekars now suffer from various 'mysterious' ailments. High blood pressure, asthma, bronchitis, energy depletion and depression are rapidly becoming common-place. The city that once rivaled Bangalore with its generous urban green spaces is now literally oxygen starved.

When the PCNTDA (Pimpri Chinchwad New Town Development Authority) set out to plan the residential zones in Pimpri Chinchwad Municipal Corporation - Pune's prosperous sister city - the vital factor of green cover was a main priority. Not many are aware of how much thought went into the real estate blueprint for Pimpri-Chinchwad, which is now a masterpiece of systematic residential zone development. Thanks to close collaboration with healthcare officials, construction and civil engineering agencies and the town planning authorities ensured that PCMC would remain a predominantly green zone. The rationale was based on firm scientific facts:

People who live in residential zones with abundant green cover suffer fewer health problems and experience lower stress levels

The survival rate of senior citizens who spend their Golden Years in green surroundings is far higher than that of their contemporaries living in the concrete jungles of the inner city

Green cover in a residential zone encourages its residents to spend more time outdoors and show lower preference to an unhealthy sedentary lifestyle

The happiness level and mental/emotional health quotient of any residential community is directly related to the extent to which individuals socialize. The availability of green areas such as parks, gardens and lawns encourages more inter-personal contact between residents

By now, social scientists know for a fact that urban green spaces tend to attracts people outside their homes and to interact with each other. Parks and gardens are places where people can meet and spend time together in the outdoors. People who have access to green spaces in cities like Pune enjoy a higher level of social activity, tend to know their neighbours and are more concerned about the general welfare of the community.

Despite the rapid depletion of urban green spaces within the Pune Municipal Limits, Pimpri-Chinchwad offers the citizens of Pune the option of green living. The verdant residential townships in localities like Ravet and Moshi have been designed in complete compliance to the PCNTDA guidelines for green spaces within PCMC residential zones. At the same time, the Pimpri Chinchwad Municipal Corporation offers to them vastly superior civic and social infrastructure and significantly lower property rates.

Synergy wins US $ 35 Million mixed-use development project in Mozambique

Chennai: Synergy Property Development Services, the Global Project Management Consulting & Turnkey Solution Company, has bagged Design and Project Management contract from Dubai-based Signature Group to manage a prestigious mixed-use development project worth US $35 million in Maputo, the capital and largest city of Mozambique in Southeast Africa.

The 24-month contract comprises a mixed-use development of a retail mall, office spaces and residential towers along with other associated amenities with a total built-up area of 400,000 sq ft.

Under the contract, Synergy will develop strategies and manage the entire design and development of the project including architectural design, MEP services, structural design services, assisting with the qualification of contractors, engineering, procurement management, construction management and will be responsible for time, cost, quality and environmental health and safety standards.

Pannkaj Agrrawal, Chairman of Signature Group, said, “We are pleased to place our belief in Synergy for our Iconic Project called "City Tower" because of their proficiency in handling large projects with absolute dedication & commitment, technology superiority, competitive pricing with the assurance of timely delivery, backed by a world class team of highly skilled Professionals.”

"We are very honoured to have been selected for this project, which allows us to showcase the breadth of capabilities that Synergy possesses as well as our global reach,” said Sankey Prasad, Chairman & MD  - Synergy Property Development Services, adding, “It is a promising start to the new year and further strengthens our foothold in the African region. We are seeing a good pick up of activities in the key regions where we are focused on, and we are well-positioned to take advantage of the upturn in 2014.”

"Our team continuously assists client to take advantage of the present market opportunities in value engineering and maintaining their development's deliverables. The team does in-depth analysis of each and every aspect to provide value engineering without affecting the quality of the development," he added.

Synergy currently has a sizable order book for various projects in India and abroad.

Synergy, with over 900 employees in offices across India, Malaysia, Dubai and Rwanda, provides project management, construction management, designs services, turnkey solutions and other consulting services primarily to large retail outfits, IT parks and special economic zones, corporate campuses, retail malls, hotels, hospitals and premium residential and mixed-use developments.

Synergy has delivered over 120 million sq ft of property development across India and overseas.  Synergy adopts a holistic approach that provides a single point of contact during each stage of the project, starting from inception to project close-out. This approach is practical in giving a detailed outline of the working procedures that aid in project executions and control.