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

Buy a home for as little as Rs 15 lakh near Mumbai at Xrbia Expo

Imagine a home amidst rising mountain peaks instead of ugly high rises where one could listen to the melody of a chirping bird as opposed to the incessant honking of traffic laden roads. This is exactly why, sprawled over a lush and vast 22.32 acre, Xrbia Neral is the perfect urban escape for the tired city dweller. 

Nestled close to the banks of the Poshir river and the popular hill station of Matheran, this is a township embraced by the soothing calm of mother nature herself.

A flat at Xrbia Neral can be available for as little as Rs. 15 lakhs however if one is really looking for a bargain, they can head over to the Xrbia Expo running at Chembur Central from the 15th to the 18th of March to get the deal of a lifetime. 

One's total savings on a flat can be to the tune of 50% while they also enjoy incredible benefits such as 0% stamp duty, 0% registration and 0% GST while they only start paying EMIs upon possession. The homes on offer will be fully furnished, and have zero maintenance charges for up to a year. 

Interested home buyers have an opportunity to avail more exciting offers which include a unique 'Zero Document Home Loan Scheme' wherein they can avail a home loan with basic identity documents, such as an Aadhaar card and a 2% down payment scheme too. Effectively, with a downpayment of INR 30,000 one can own a flat at this project, without having to pay anymore EMIs until possession.

Additionally, eligible buyers can avail of the government housing subsidy, Pradhan Mantri Awas Yojna, of up to 2.35 Lacs.

Xrbia earlier in 2016 had some stellar success by getting 1661 bookings only in a space of three days. The company is hoping to match and in fact better that success with Xrbia Neral, the project being right at the centre in more ways than one.

Rahul Nahar, CEO, Xrbia Developers says, "Whether you are looking for a second home or a home away from the hustle and bustle of crowded Mumbai, Xrbia Neral is the ideal opportunity to invest in."

Xrbia Neral is a serene township complete with amenities such as a swimming pool, club house and community centre, landscaped gardens and walking spaces, gymnasium and even a shuttle bus service to and fro from Neral Station. The township is a very commutable distance from Mumbaicity and has close proximity to two proposed international airports in Navi Mumbai and Pune.

If one is looking for a house then, this Gudi Padwa, they must be at the Xrbia Expo between 15th - 18th March at Chembur Central.

Address: Eastern Express Highway, Ghatkopar East, Mumbai - 77.

About Xrbia Developers Ltd.:  

Xrbia understands India's need for smarter, efficient and sustainable cities which offer a higher quality of life to its people. Superior living experiences being priority, brand Xrbia delivers end-to-end urban infrastructure services to its inhabitants. With a goal and vision of building '100 future ready cities by 2030', Xrbia is embarking on a new journey that lays the benchmark for quality and modern urban development in the country. 

The brand is driven by technology in all they do from construction & operations to enabling customers to measure, manage and pay for services that they use. Xrbia matches the global trend of increasing affordability by designing compact homes and offering standard amenities of free car park, community center with swimming pool and commercial complexes. 

This year alone they built cities across 18 locations in India and launched 40,000 houses spread across Maharashtra. At Xrbia, the aim is not to build only houses, but cities that are environmentally friendly, technologically advanced, committed to education, dedicated to health, and that foster community spirit.

Rustomjee launches private homes Isle Residences at Bandra-Khar locality

Rustomjee Group, one of the leading builders of premium houses, has launched limited edition private homes ‘Isle Residences’ at Badra-Khar area which will be part of their gated community project - Rustomjee Paramount.

The new product will have only 3BHK homes and further, to ensure the privacy of the residents, there will be only two apartments on each floor. A private lobby and sun deck add to the exclusivity of the homes.

Every apartment boasts of well-appointed interiors with only the best fittings including home automation and modular kitchens by the leading premium lifestyle brand - Magppie. Four RFID lifts grace the building and ample parking has been provided for at the Isle Residences.

Commenting on launch of Isle Residences of Rustomjee Paramount, Percy Chowdhry, Director, Rustomjee Group, said, "Rustomjee Paramount is a shining example of the spaces that Rustomjee creates. It offers not only homes but lifestyle opportunities. 

Every aspect of the project has been thoughtfully planned keeping in mind the requirements of residents of a gated community - from entertainment, fitness, children's recreation, space for elders… all aspects have been looked into. Our A and B Wings at Rustomjee Paramount are sold out and the recently launched C Wing, christened Isle Residences, is sure to meet the exacting expectations of our esteemed clientele."

The multi-storeyed towers are brainchild of two renowned architects in the Real Estate Sector, Sanjay Puri of Sanjay Puri Architects and Patty Mak of Suying Metropolitan Studio. The self-sufficient gated community is strategically located - with easy access to the Western Express Highway, S.V. Road, Bandra-Worli Sealink and also the international airport. It is close to the BKC business district as well as in proximity to education, healthcare and entertainment facilities.

Most of the residences have sea views and the project is in great demand by discerning clients, such that the A and B Wing have been sold out.

Living in a gated community fosters a sense of bonhomie and the chance to connect with like-minded individuals who share similar status and interests in life.

Elderly residents can enjoy the peace and quiet of the Senior Citizen's Zone… all while being assured that their safety and security has been taken care of. In fact, the Alfresco sky lounge, Toddler Studio and Business Centre are ready and functional, with several events already being hosted at the Alfresco Sky Lounge for the benefit of the residents and their guests. 

Rustomjee ensures that residents can truly enjoy the luxury of space - 'My Space' - the opportunity to unwind and de-stress with their hobbies and interests.

What Indian Real Estate Needs from Union Budget 2018-19

Every year, the Union Budget presents the Government with an opportunity to tweak the direction that the Indian economy is taking. Sometimes, hard decisions are taken which, while necessary, do not necessarily go down well with Mr Everyman. At other times, the Union Budget is clearly meant to be a crowd-pleaser. This invariably happens when an incumbent Government is finishing its term and general elections loom, for obvious reasons.

Anuj Puri

The current Government has done a lot for the Indian real estate industry, even when it was in the form of hard decisions like demonetization and the disruptive but very necessary RERA. 

With the hard decisions now taken, the Indian real estate sector fervently hopes that it is at the receiving end of the benevolence implied in a populist budget. This benevolence needs to go beyond improving personal finances and the implied boost to real estate investment appetite.

Despite the Government's very proactive stance towards cleaning up and regulating the sector, there are still several policy-related pain points where the coming Union Budget can make a decisive difference:

• Single-window clearance

Why this has not happened despite it being a very clear and dire need - even more so given the Government's dream of Housing for All by 2022 - is a bit of a mystery. The clearance and approval process for residential real estate projects has been an impediment for a long time. Although many initiatives have been taken to create a conducive business environment in the sector, the demand for single window clearance mechanism in totality is yet to be fulfilled.

If implemented, single-window clearance can significantly reduce the overall projects cycle time and developers will be able to focus on their core business of project execution. Post-RERA, it has become all the more important to facilitate smooth clearances and approvals so that there are no execution delays due to procedural hindrances.

• Industry status to real estate sector

Again, a long-standing demand which has so far gone unmet. Real estate is one of the key GDP contributors and the fourth-largest employment generator in India. Extending industry status to the entire real estate sector will help developers to raise funds at lower rates and, in turn, reduce their project costs - which will help in pushing demand. Additionally, the inclusive growth of the real estate sector will help in generating employment across various sectors which are directly or indirectly related to it.

• Tax rationalization on REITs

As of today, the first REIT is yet to be listed in India. Simplifying the taxation norms for REITs is a critical requirement for listings to start flowing in, which will benefit the entire real estate sector by the enhanced participation of a much broader bandwidth of investors.

• Higher income tax benefits for the first time home buyers

Yes, this always matters for the residential real estate sector. Currently, a first-time homebuyer can claim an additional tax deduction of up to INR 50,000 per financial year under section 80EE of the Income Tax Act, provided certain conditions are fulfilled. Tax exemption should be increased so as to incentivize first-time home buyers.

• Reduction in GST rates

As of now, under-construction properties are levied a GST of 12%, which is significantly higher than the previous taxes. The Government should strive to make GST a tax-neutral proposition so as to help in reviving demand in the real estate sector. Clarity and transparency on input tax credit will also help in rationalizing the taxes.

• Higher incentives for green buildings

They are the indisputable need of the hour in India's deteriorating urban environment, but the marginally higher cost of construction of green buildings has kept a majority of developers away from such projects. Keeping the current and certain future challenges to the environment, the Government should encourage developers with higher incentives in terms of FSI and/or some degree of tax exemption to encourage them to adopt green building technologies.

Article by Anuj Puri, 

Chairman - ANAROCK Property Consultants

ZAK Awards 2017 for Excellence in Façade & Fenestration

The first edition of the ZAK Awards 2017 for Excellence in Façade & Fenestration culminated at Sofitel BKC in Mumbai, which saw a participation of over 600 delegates.

"We're humbled by the overwhelming response we have received and it has reinforced our belief in the importance of recognising the unsung heroes of this important aspect of construction industry," said Syed Zakir Ahmed, Chairman & Managing Director, ZAK Group.

ZAK Awards aims to give global recognition to Façade & Fenestration designs which drives individuals and companies to fabricate the unthinkable.

ZAK Awards 2017, in its first year itself received 300+ entries. Round 1 of qualifiers basis the registration submitted online was screened by Ernst & Young who are the Process Advisors for this unique initiative. Round 2 was screened by Jury members basis forms submitted by the contestants and the winners were decided from amongst the shortlisted by means of case presentation to the grand jury with Q&A in discretion of the process advisors.

The final winners are in accordance to the evaluation averaged out for each finalist basis their implied diligence in the project submitted.

The final winners of ZAK Awards 2017 for Excellence in Façade & Fenestration are as below:

]ZAK Awards for Excellence in Façade Design - RESIDENTIAL

- Cadence Architects - B - One, Bengaluru 

ZAK Awards for Excellence in Façade Design - COMMERCIAL

- Cadence Architects - KMYF, Bengaluru 

ZAK Awards for Excellence in Façade Design - INSTITUTIONAL

- Sunil Patil & Associates - Collector Office, Pune 

ZAK Awards for Excellence in Façade Design - HOSPITALITY

- Ace Group Architects - Y - The Boutique Hotel, Mysuru 

ZAK Awards for Facade Project of the Year - DEVELOPER (COMMERCIAL)

- ITC Group - ITC Green Centre, Bengaluru 

ZAK Awards for Excellence Window Execution - Aluminium Project

- Glass Wall Systems - One Avighna Park, Mumbai 

ZAK Awards for Excellence Window Execution - uPVC Project

- Lingel Windows & Doors Technologies - The Leela Ambience Hotel & Residences, Gurugram 

ZAK Awards for Excellence in Window Execution - uPVC Retail

- Lingel Windows & Doors Technologies - Farm House - Mr. Saraf, Gurugram 

Remarkable Façade Bringing Paradigm Shift

- Venkatramanan Associates & Glass Wall Systems - Lupin Research & Development Centre, Pune 

Outstanding Contribution to the Façade Industry (Contractor)

- Navin Keswani, Managing Director, Aluplex India 

ZAK Awards for Excellence in Façade Execution (SKYLIGHT)

- L&T Constructions - Seawoods Grand Central, Navi Mumbai 

ZAK Awards for Excellence in Façade Execution (CLADDING)

- Alufit - TCS Gitanjali Software Park, Kolkata 

ZAK Awards for Excellence in Façade Execution (POINT FIXED GLAZING)

- Aluplex India - Godrej One, Mumbai 

ZAK Awards for Excellence in Façade Execution (CURTAIN WALL)

- Alufit - Godrej BKC, Mumbai 

Outstanding Contribution to the Façade Industry (Architect)

- CN Raghavendran, Partner, CRN Associates 

About ZAK Trade Fairs and Exhibitions Pvt Ltd

ZAK Trade Fairs and Exhibitions Pvt Ltd., is one of the leading conference and exhibition organisers. Since its inception in 1994, ZAK has organised over 600 exhibitions and conferences involving 22 different industries globally. The core strength of ZAK is acting as a bridge between the visitor and the exhibitor.

ZAK is a specialist in events related to glass, facade, fenestration & aluminium extrusion industries and its conference ZAK World of Facades is the world’s largest conference series on facade design & engineering with a presence in 16 countries. Close connection with the industry stalwarts and professionals gives them the edge and allows them to address key challenges and issues faced by the industry through their events.

Sheth Group Waives off Stamp Duty and Registration charges for six Mumbai home projects

Sheth Group, one of the leading developers in the luxury and mid-housing segment, has waived off Stamp Duty & Registration (SDR) for its upcoming six residential projects in Mumbai as a limited period offer to its customers.

Home buyers can avail the offer on the groups' 1, 2 and 3 BHK residences across properties - Sheth Avalon and Sheth Vasant Lawns Phase 2 at Thane;  Sheth Clarion, Borivali; Sheth Midori, Dahisar; Montana, Mulund and Avante, Kanjurmarg. Home buyers buying home from any of these projects can avail the offer on 20th and 21st January 2018.

Speaking on the offer, Chintan Sheth, Director, Sheth Group said, "We continually strive to provide our customers with great value-for-money offerings, and in this New Year, we wish to reciprocate the faith our customers have shown in us, with an offering that will give them great savings and value. This campaign will play an important role before the financial year-end, as we can achieve good sales turnover with this offer."

About Sheth Group:

Sheth Group is a leading developer in the luxury housing, retail and commercial segment of real estate, with a global footprint.

Sheth Developers Pvt. Ltd. was founded in 1986 by Ashwin Sheth, a visionary with implacable determination. Since its inception, the organization has created some of the largest townships, complexes and tallest skyscrapers through resourceful planning, an unwavering focus on quality and customer-oriented designs. 

Today, Sheth Developers Pvt. Ltd is known as Sheth Corp Pvt Ltd. The company's portfolio boasts of over 40,000 homes built, 80 projects and over 20 million square feet, developed and delivered.

Sheth Group has also extended its real estate presence abroad with great success. Sheth Estate (International) Ltd, a wholly-owned subsidiary of Sheth Developers Pvt Ltd and its international arm, is an established realty name in the UAE. Its Dubai brand, IRIS has enhanced Dubai's skyline with ambitious developments in the residential, commercial, and mix use projects space, adhering to the highest standards of design, planning, location, luxury and comfort.

Currently, Sheth Group has 7 ongoing projects in Mumbai: Midori at Dahisar; Montana at Mulund; Avante at Kanjurmarg and Avalon, Zuri, Vasant Lawns & Fiona at Thane.