Infrastructure drives real estate along NH3

Wednesday, May 21, 2014

Mumbai

Infrastructure growth has given impetus to the real estate market across India. The widening of the eastern express highway and construction of a number of flyovers on this stretch led to the increased accessibility of Thane and adjoining areas to south and central Mumbai, resulting in rapid development of Thane and adjoining areas. Similarly, the areas along the National Highway 3 (NH3) are also likely to see considerable transformation, due to its widening into a four-lane highway.

Citing example of the Mumbai-Pune western express highway and other highways, Venkatesh Gopalkrishnan, EVP and CIO, Shapoorji Pallonji explains, “With the development of NH3 which is further northwards of Mumbai, we are bound to see this development extend beyond Thane. Areas such as Vasind, Asangaon and further up to Shahapur, are certainly poised to benefit from the connectivity NH3 will offer. We have already seen a good change in the Mumbai ­ Pune belt with the construction of the Mumbai-Pune expressway and prices in these areas have increased considerably in the past few years. On the other hand, locations such as Shahapur, which offer a green environment and a good climate, along with an affordable price to the buyer, will definitely grow to be a first home destination for the budget buyer.“

According to Nayan Bheda, chairman and managing director, Neptune Group, Mumbai, Pune and Nashik, is a golden triangle. “Mumbai-Pune highway was built long back, but Mumbai-Nashik highway was always required. Widening of the NH3 will definitely prove beneficial. It doesn’t pass directly through all the suburbs like Ambivali, Titwala, among others and the connected road to Kalyan suburbs should also be widened, as this will help the area to develop like Vashi, Mumbai and Thane in the future,“ says Bheda.

Hiral Sheth, director marketing, Sheth Creators, is of the view, “The NH3 will definitely boost the real estate sector in central suburbs. Locations like Kalyan, Dombivali, Ambernath, Badlapur, which are adjacent to NH3, will witness a substantial growth in the real estate market.

Kalyan and Dombivali, have seen an increased amount of traction due to the development of metro projects which has improved the connectivity of the region. These destinations will be of colossal interest to homebuyers and investors, as they possess decent infrastructure development with an attractive price range. The demand for housing in this belt will see a rise in the forthcoming years. The NH3 will also further aid in enhancing the social infrastructure of the areas. This four lane express way shall also assist in the progress of commercial and retail establishments. There will be a significant demand for housing projects and this will attract many migrants with the added advantage of housing being reasonable and cost effective, compared to other areas of Mumbai.“

The widening of this national highway has had a positive impact on the connectivity between Mumbai and Nashik. Subhankar Mitra, director ­ strategic consulting (West), JLL India, says, “Earlier, the travel time between these two cities was 4-5 hours, which has now reduced to less than three hours. Movement of goods has become easier; as a result, a lot of warehousing has come up in the fringe areas of the MMR, around Kalyan and the Bhiwandi connector. In addition, many residential projects have also been launched, some of which are second home projects in remote areas like Shahapur, Atgaon, Karjat, etc.

There has been a good impact on the real estate market of Nashik, as well developers there are now marketing their projects to Mumbai’s investors, on the basis of the travel time between the two cities having significantly reduced.“ Mayur Shah, managing director, Marathon Group, adds, “Unprecedented development in the real estate sector in the adjoining areas of NH3 in the recent past, is an ideal example of infrastructure development driving the growth of real estate. The widening of the NH3 and Mumbai Nashik Express way after the widening of Kasara Ghat section, has converted NH3 into a new growth corridor. It has encouraged investors and builders to invest and make property on the outskirts of the cities because of the ease in accessing the location through NH3. Also, the widening of NH3 has increased tourism in a way which in turn, will also push the growth of real estate development.“

Shailesh Puranik, managing director, Puranik Builders, concludes, “With the widening of 

the NH3, we have seen an upward trend in both, residential and commercial property markets, in and around the area. Also, NH3 which is considered as a major Indian national highway is well-connected to other states. This has significantly resulted in creating an impact on the real estate development in the nearby areas.

In the near future, we see good amount of real estate development taking place along this corridor. It has provided good opportunities to the builders and also to home buyers.“

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Elections 2014: Indian real estate awaits proactive govt

Tuesday, May 20, 2014

Even if the next government proves to be 'real estate friendly', it has its work cut out for it. There are vital regulations and initiatives related to real estate that have been gathering dust on bureaucratic tables which need to be fast-tracked and implemented.

Like most other business sectors, the Indian real estate market holds its breath for a stronger and more determined government. The perception which is currently driving market sentiments is that market momentum can either accelerate, remain unchanged or decelerate depending on which party is voted into power. Speaking purely from the viewpoint of market sentiment, there is some validity to this perception. However, the fact is that the true benefits of political stability and proactive reforms - if these indeed ensue - will not be visible or tangible for quite a while after the new government takes over.

Even if the next government proves to be 'real estate friendly', it has its work cut out for it. There are vital regulations and initiatives related to real estate that have been gathering dust on bureaucratic tables which need to be fast-tracked and implemented. Though these regulations and initiatives are crucial for the real estate sector's growth, there are various complexities that must first be sorted out. One of the challenges is impartially attending to the interests of all industry stakeholders. The other challenge is to shore up all loopholes that could remain and be exploited if not identified prior to a regulation's implementation.

This is especially true of the pending Real Estate Regulatory Bill, which has been hotly contested at every stage. There is no doubt that it must be enacted sooner rather than later so as to make Indian real estate more attractive for foreign investors. However, it does appear that no version of this Bill that emerges after the various objections and arguments from the industries stakeholders have been considered will be accepted across the board. If this is the case, it will require a strong and determined government to push it through. This also applies to the regulations pertaining to FDI in multi-brand retail - a subject that has drawn an incredible amount of political flak - which would have a major impact on India's attractiveness as a destination for foreign retail heavyweights.

Developers have been campaigning for a faster project approval process, and this is justified but by no means easy to do. Again, the government faces the challenge of ensuring that any fast-tracked approval process does not result in misuse and exploitation. While faster approvals would boost the supply pipeline and help bring prices down, the government must also ensure that construction quality norms are not compromised in the process. Also, faster approvals could result in the provision of support infrastructure falling several more laps behind while newer precincts are being developed.

That said, swifter and more determined decision-making than what we have seen so far is definitely of the essence. Many overseas investment funds have so far abstained from the Indian real estate market because of the lack of regulation, political instability and bureaucratic quagmire. The new government will have the opportunity of making Indian real estate more investment-friendly and attractive, and this would go a long way in meeting its considerable capital requirements. Investor-friendly, streamlined policies from the new government can be a game-changer for Indian real estate. Expectations: The industry expects the new ruling government to be less dependent on smaller coalition parties for support A clear electoral mandate will help real estate investors to obtain clarity on future policies, which is critical while making future business plans The industry expects REITs to become operational in India so as to increase liquidity The industry expects the approval and implementation of the pending Real Estate Regulatory Bill

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Emaar MGF's The Palm Drive 'luxury group-housing community'

Wednesday, May 14, 2014

The Palm Drive is a luxury group-housing community, providing contemporary living within tranquil green spaces. The project is dispersed across more than 37 acres, comprising of Sky Terraces, Premier Terraces, Palm Studio, Villas, Garden Terraces, Palm Terraces and The Enclave.

Architect	DP Architects, Singapore
Location	Golf course Extension Road, Sector 66, Gurgaon
Delivery Schedule	Completion will happen in phases, starting in 2014 and finishing in 2015.
Status as on Date	Work is on in full swing at Palm Drive with efforts being made to deliver the entire project with high quality standards. We have recently appointed CBRE to do an internal quality check at Palm Drive. The structure work for the entire complex is complete. Construction has begun on all projects at Palm Drive and is in various stages of completion.

Amenities

•          Fully equipped Health Club facility, unisex gymnasium and Dance and Aerobics Studio •          Sports Facilities including Tennis Courts, 2 Swimming Pools, Baby Splash, complete with changing areas •          Club with Lounge, Billiards Room, Multi- Purpose Hall, Multi –Cuisine Restaurant •          Kids Créche with tot-lots, seesaws, baby slides, sand pit and party area, mini club cineplex •          Adequate  Power back up per apartment •          Dual Plumbing to recycle water for landscape and for toilets

Mr. Surender Kumar, AVP Projects, Palm Drive

 “I started working on Palm Drive from Nov 2010 onwards. Work is on in full swing at the site. We are working very closely with our expert finishing site engineers who are keenly supervising finish and quality. We also have a technical audit on site being conducted by CBRE. Our best efforts to complete the project while delivering quality work is at the center of our focus”

 

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Shravan Gupta's Thought Leadership @ Emaar MGF

Tuesday, May 13, 2014

Emaar MGF presents the Porter Prize India – 2013.

The Porter Prize a one-of-its-kind recognition has been initiated by Harvard University and christened after Professor Michael E Porter. The Porter Prize 2013 one of the most prestigious and coveted awards in the areas of strategy, recognize the strategic acumen of corporate India. Emaar MGF partnered with the Institute for Competitiveness, India to present this prestigious award to the best companies in their respective industries.  The central idea of the Porter Prize is to propel companies to compete on the basis of value creation, innovation and strategy.

It was an august gathering with the who’s who of Corporate India in attendance. Ravi Varanasi (Chief-Business Development, NSE), Moses Manoharan (Editor-in-Chief, Global Dialogue Review), Gerd Hoefner (MD and CEO, Siemens Technology and Services Pvt. Ltd.), B K Sethuram (VP, Dow Coatings and Construction, Dow India), Pankaj Phatarphod (MD, RBS), CVL Srinivas (CEO, Group M, South Asia), Ravi Begur (Head IT & Sustainability), V Shankar (MD, Rallis) etc. Subsequently Nadir Godrej (MD of Godrej Industries and Chairman, Godrej Agrovert) and Dr. Devi Shetty (MD, Narayana Health) addressed the audience threw up some very interesting perspectives and points for all to ponder upon.

Dr K Ramamurthy, CEO, Projects, Emaar MGF, who was a panelist at the event touched upon the relevance and importance of the right talent for companies to gain competitive advantage. He spoke about the relevance of fostering a personal growth plan for talent and a talent retention strategy which provides an edge over competition.

He also emphasized the need for good corporate governance, especially given increasing competition; how a company conducts its business will be the key differentiator.  It is for this reason that governance framework and risk management in real estate is now much more than just a means to regulatory compliance.

Mr Ajay Nambiar, Chief Service Officer, Emaar MGF  and Adrian Hardwick, Chief of Design at Emaar MGF who gave the opening and closing address at the event addressed an august gathering of Industry leaders, social influencers, CXO’s, media, the jury. The anticipation and the eagerness in the room was exciting as the audience waited  to hear  Strategy Guru Michael E. Porter’s address, the very invigorating panel discussions and the much awaited awards ceremony.

Emaar MGF as Guest Faculty at ISB, Mohali

Mr. Vikas Gupta, COO, Emaar MGF Land Ltd. addressed management students at ISB Mohali on the invitation of Prof. Tony Ciochetti, earlier with University of Texas at Austin, USA and now associated with Real Estate Chair, Massachusetts Institute of Technology (MIT).

Mr. Gupta gave an insightful perspective which served as an overview on the Real Estate Industry, and the various products which are normally developed by the industry. Additionally he discussed alternate possibilities wherein regular products could not be developed due to market or approval constraints.

Mr. Rajiv Gupta, Head Sales (North), Emaar MGF Land Ltd, also gave a brief on various schemes under which products can be sold when regular schemes like construction-linked plans fail to deliver.

Progressive Punjab Summit (9^th-10^th Dec’13)                                                             

The Government of Punjab held the Progressive Punjab Summit on 9^th and 10^th December 2013 to promote investment in Punjab. Among the invitees were Mr. Mukesh Ambani, Chairman, Reliance Industries Limited, Mr. L.N.Mittal, NRI business tycoon and Mr. Sunil Mittal, CEO, Bharti Enterprises.

Emaar MGF being one the largest investors in Punjab also participated in the Summit and utilized this unique opportunity to communicate their corporate brand with more than 1000 dignitaries who participated in the function.

Emaar MGF inaugurates The Economic Times ACETECH 2013

Emaar MGF Land Ltd, inaugurated The Economic Times ACETECH 2013 with Dr. K Ramamurthy, CEO-Projects, Emaar MGF giving the inaugural address. Dr Ramamurthy touched upon the need of the industry and criticality of product and service innovation and how that has a direct bearing on cost, quality and timely delivery.

 He also elaborated on contributions made by the real estate industry to India’s overall GDP and how the real estate industry is enabling its related industries to flourish. ACETECH is Asia’s largest exhibition of designers, architects and construction material manufacturers organized by ABEC Ltd which happens every year in Delhi, Mumbai, Bangalore, Ahmedabad and Chennai. 

 

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New Perspectives: EVC and MD Shravan Gupta Emaar MGF

Monday, May 12, 2014

The New Year brings with it a new energy and promise of many possibilities. It brings with it a new dawn – filled with new beginnings, new opportunities, and new adventures.  If last year wasn’t what you’d hoped it would be, the New Year gives you the opportunity to wipe the slate clean – a time to say goodbye to the disappointments, frustrations, and fears of the year that has passed. It’s a line in the sand, allowing us to let go of what isn’t serving us, and embrace all that lies ahead. On the first day of the year, it seems like the possibilities for our future are endless.

 

We at Emaar MGF begin this New Year with a new Resolve. A resolve which brings with it the determination to move towards a better and brighter future, one that will guide us towards our end goal of being the ‘Most admired and respectedcompany in real estate’, despite the challenges we may encounter along the way. 

 

Here is to new energies, new dimensions, new horizons, and a whole new perspective.

In this New Year we bring to you Horizons in a striking new format of a news-magazine. It is visually strong and brings to you all the new developments at Emaar MGF. We hope you will enjoy reading it. 

Happy 2014.

 

 

 

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Emaar MGF accommodating with locational preferences

Property buying decision influenced by various factors, location being top priority for most buyers

: "EVC and MD Shravan Gupta's Emaar MGF"

 

 

 

 

Emaar MGF, a joint venture between Emaar Properties PJSC ("Emaar") of Dubai and MGF Development Limited ("MGF") of India encompasses various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution. At present, its focus is on the development of residential projects in Delhi and elsewhere in the NCR, Mohali, Hyderabad, Chennai and other key Indian cities.

The location of a property is a primary consideration, and one of the broad choices that help buyers define goals and Emaar MGF has perceived this desire of prospective buyers. The areas covered by Emaar MGF are some of the finest locations surrounded by welcoming green spaces, invigorating fresh air and sunlight; be it in Delhi NCR or other states. This has been the conception of Shravan Gupta (EVC and MD Shravan Gupta's Emaar MGF), Executive Vice Chairman and Managing Director of Emaar MGF whose visionary approach and observance of the changing Real Estate trends led to the astute selection of locations for residential construction under Emaar MGF.

Further, Research has revealed that “Location” has presently become the top most purchase consideration for home buyers. The preference for “Location” is even higher than “Price” which was the biggest influencer for property purchase over the last few years. Emaar MGF’s upcoming projects like Emerald Hills, Palm Hills, Palm Terraces Select as well as Digital Greens are being planned in the Gurgaon region which is highly in demand for residential as well as corporate properties in Delhi NCR. This would especially accommodate with the important shift in behavior of the home buyers who take into consideration the “Location” of the residence, they would settle in. Though, there are several other factors that will influence purchase decision like Price and Connectivity. In fact, around 13% of home buyers give higher preference to the “neighborhood” and proximity of the property to hospitals, schools and offices as well but location of property still remains the top priority.

“Factors such as location of one's friends, family, job and other interests will help buyers choose a general location to begin the search for the right home. Our vision is to become the most admired Real Estate Company in India through meeting the changing requirements while adapting with the latest market trends” says Shravan Gupta (EVC and MD Shravan Gupta's Emaar MGF).

The real estate companies are putting tremendous efforts to match up with the market transitions as well as the ever increasing requirements of the home buyers. While on the part of home buyers, the search for the perfect home requires to make decisions regarding how they would like to approach the process, the markets they wish to explore, and which features they need and want. The property purchase decision is crucial for the fact that large amount is involved in it and thus the buyer being selective over various factors is very obvious.

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Shravan Gupta's Emaar MGF Palm Garden is a phenomenal living life style: Dr. Amit Sharma

Monday, May 5, 2014

Shravan Gupta's Emaar MGF Palm Gardens is a residential integrated community built across 21.90 Acres of land. A well constucted society with 12 Apartment towers have been planned around open landscaped spaces, with large open spaces, excellent clean design, palm trees lining the wide roads with excellent recreational facilities. Built with a high emphasis on premium quality and design the complex is well occupied and has appreciated well in terms of market price and value. with a total of 1026 apartments including 3 bedroom, 5 bedroom and duplex plans. The development also includes a Golf putting range, 2 schools and EWS.

Contractor/Architect  :  IL&FS Construction Company/DFI
Location                      : Sector 83, Gurgaon
Delivery Schedule   : Construction commenced in June 2012 and is progressing as per schedule. The expected delivery is Sept 2015

Status as on date       : Construction Work in Progress
Amenities                   : 5/10 KVA Power Back-up
Perimeter Security   :Multiple Parks for recreation Modern Community Centre with Sports, Gym and Health facilities
Primary/Nursery School : Convenient Shopping
Interestingly, Emaar MGF Palm Garden with the high quality design and optimum pricing has attracted foreign investors as well. Shravan Gupta further adds, “it is a reflection of Emaar MGF’s international standard when it comes to design and development.

Dr. Amit Sharma, Resident, Palm Gardens
Hi, I'm Dr. Amit Sharma, resident in Palm Garden.
“It's phenomenal living here, contrasted with other private residential alternatives. The design and development is great and the open common zone gives a feeling of vast openness. “I’ve been here in 2012 but, I felt that is being so long Im living here. The whole society is now being like a family and became an important part of my life. We have a wonderful society here in Emaar MGF's Palm Garden with all the necessary facilities in abundance. For the wellfare and refreshment of the society members of Emaar MGF Palm Garden, We have a Palm Garden Club which is a club house, Where we have discussion on various matters and issues for society to resolve them in a civilised way. along with that, club house organising various event for refreshment of peoples to give them better life style. we also celebrate each and every festivals of every religion together without any boundation across the religions. As Palm Garden has many beautiful parks where Society club members gether at every morning yoga session and laughter session were held in park. Walking and jogging and doing excersies and kids also have wonderful place to play. Being a Doctor, it makes me feel lite that peoples here are good concern about their health. Like every beautiful morning of Emaar MGF's Palm Garden society, when the day leads towards colourful evening. Every fortnight we use to have a tea party for general discussion. With well laid out Palm trees lining the complex makes it appear as though we are in Dubai, particularly during the evening."
 

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Shravan Gupta's Emaar MGF and DLF, IREO In Delhi Vs Mumbai, JLL Releases ‘Mumbai Offices 2020: Mapping The Future Of The Mumbai Office Market’

Saturday, May 3, 2014

(Date: 3 May 2014)

Seven Real Estate Questions Explore The Big Picture 

(Shravan Gupta's Emaar MGF, DLF and IREO etc... Delhi Vs Mumbai)

 

MUMBAI, May 2014: International property consultancy JLL India has released its latest research report ‘Offices 2020 – Mapping The Future Of The Mumbai Office Market’. Anticipating the changing trends of commercial real estate in India’s (Including Giants like Shravan Gupta's Emaar MGF, DLF, IREO, BPTP, Parscnath Developers, and Pearls Agro) financial capital, Mumbai Offices 2020 provides ‘foresight with purpose’ into where Mumbai’s office market is headed.

Offices 2020 – Mapping The Future Of The Mumbai Office Market

A dynamic metropolis that is always growing, Mumbai alone contributes around 5% of India’s total GDP. This report provides insights on how the city of Mumbai is adapting itself to the increasingly competitive office real estate landscape in the country. In this incisive report, JLL India answers critical questions that existing and aspiring corporate real estate occupiers in Mumbai are asking today:

• What risk factors could potentially hold Mumbai back?
• How will the birth of new multiple CBDs affect Mumbai’s business environment?
• With office buildings in Mumbai’s traditional business districts ageing rapidly, what aspects should companies consider while contemplating relocation?
• What will be the effect of the changing workforce profile and technological advancements on Mumbai’s office landscape?
• Are tenure generalisations fading as the office market enters a stage of flux?
• Will the sustainability bandwagon effect apply to the entire industry?
• Will Maximum City be able to harvest the emerging growth opportunities by 2020?

Ramesh Nair, COO – Business, JLL India says, “”With this report, we reaffirm that Mumbai will continue to be acknowledged as the financial capital of India. We have established that high quality, iconic and well-positioned workspaces are going to be a key attraction, and that the sustainability agenda will not render Mumbai’s office stock entirely obsolescent just yet. We have also underscored the inevitable fact that limited infrastructure and high commuting times will lead to a number of mini-CBDs in Mumbai.”

 

Commenting on some of the leading concerns of commercial space stakeholders in Mumbai, Nair adds, “In the future, commercial space landlords will look at higher-quality partnerships, based around longer and fairer rental contracts. Also, corporates’ relocation decisions will majorly be based on CAPEX calculations.”

“Today’s mantra is definitely ‘collaborative space’. Campuses, in particular, are stressing the need for better environments to produce better outputs. Of course, good salaries are still the employees’ main motivation. However, progressive companies realise that it is innovative rather than functional office spaces that can help them in the war for talent. This is becoming a distinct trend in Mumbai”, he adds.

 

Cities such as Delhi and Chennai are increasingly competing with Mumbai. Where Realty Giants like Emaar MGF has exceptionally good projects like ( Residential projects: Emaar MGF Gomti Green, Emaar MGF Indore Green, Emaar MGF Marbella, Emaar MGF Imperial Blue and other commercial Projects like Emaar MGF Commerce Park ) Infrastructure investment and other upgrade programs have resulted in some operations moving away from Mumbai. Delhi has declared its 10-year plan and is clearly making progress, while Bangalore is also emerging as a strong contender. Mumbai is also losing shipping and back-end financial jobs to Chennai. No Doubt Delhi's realty companies like Shravan Gupta's Emaar MGF is leading in Modernization and Advanced Architecture with Good improving Infrastructure.

 

Fortunately, Mumbai’s gravitational pull will remain strong over the next seven years, although the city will be increasingly challenged. It becomes imperative to proactively fulfil the needs of its stakeholders. However, will Mumbai remain the gateway to corporate India?

REPORT HIGHLIGHTS:

• A whopping 15,000 acres of land will be available for redevelopment, increasing the potential availability of quality new supply
• Grade A office supply will increase by a mammoth 33% over just 3 years
• Grade A office space in Mumbai will rise from current levels of 92 million sq. ft to 120 million sq. ft by 2017
• MMR (Mumbai Metropolitan Region) population will increase to 26.7 million people, thus providing a larger workforce pool
• The BFSI & IT Industries will continue to drive absorption and are expected to contribute over 60% to office space absorption in the city
• Space Density per person has fallen from 110 sq. ft to 85 sq. ft per person; this trend is expected to continue.

 Companies like Emaar MGF have power to make the world beautify and creating a new India

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Emaar MGF (EVC and MD Shravan Gupta) and DLF like Real Estate Industries: Propeller of growth for Indian economy

Thursday, May 1, 2014

The out of box thinking approach followed by real estate developers (Like Shravan Gupta's Emaar MGF, DLF, IREO, BPTP, Amrapali Group, Parsvnath Devekopers and PACL etc..) have been instrumental in changing the face of India from being an under-developed country towards accelerating its way to a developed country by developing the state of art infrastructure developments.

  

The real estate sector has been the backbone of the Indian economy and Real estate Industries like Emaar MGF and DLF has been a major contributor in the economic growth. It is evident from the very fact that the Real Estate Sector contributes 8.53% of the total GDP and also witnessed growth rate to the tune of 30%. In the era of this modernization, Improving in the Architecture and Infrastructure by the Giants like Shravan Gupta's Emaar MGF have the power to make the world beautify. It is also pertinent to note that this sector has emerged as the fifth largest destination of foreign investment. 

 

The out of box thinking approach followed by real estate developers have been instrumental in changing the face of India from being an under-developed country towards accelerating its way to a developed country by developing the state of art infrastructure developments, buildings, townships, shopping malls not only in the urban towns of the country but in the Tier II & Tier III towns as well. This effort of developers has not only been useful in changing the face of India but infact has been providing sustenance to 250 ancillary industries. The road doesn’t end here as this sector has also been a good employer, by being the second largest employment generator in the economy where the top five real estate players (Like Emaar MGF, DLF and IREO etc..)employ more than 2.00.000 employees at different locations and being the highest employer to the BPL families. 

 

Nowadays with the changing attitude of people from living on rent towards owning their property the real estate sector has witnessed huge demand for the residential segment. The demand for commercial development is also growing at a fast pace due to a paradigm shift from unorganized retail towards organized retail coupled with MNC’s interest in establishing offices here in India. Going forward, the scenario would be no different as at present there is a shortage of almost 27 million dwelling units and the Indian real estate business which is estimated at USD 15 billion is likely to be USD 90 billion by 2015, predicts ASSOCHAM. The housing start-up index, which is now at a pilot stage, shows that new housing units in cities such as Kolkata, Chennai and Bangalore are showing lesser growth than the tier II and III cities like Lucknow (Emaar MGF Gomti Green; EVC and MD Shravan Gupta Emaar MGF), Indore (Emaar MGF Indore Green; EVC and MD Shravan Gupta Emaar MGF), and Patna and Gurgaon (Emaar MGF Marbella) etc. Reason being the growth these cities are posing in terms of their absolute business. 

 

As per latest Knight Frank report, since last 2-3 months the Indian economy has witnessed improvement in all the economic parameters be it inflation, IIP, imports, CAD, etc. However, for the second largest populous country, job creation is of utmost importance for it to return to its high GDP growth levels. Job creation primarily depends on the labour intensive manufacturing sector which in turn depends on the investment in this sector. Fresh investments in the economy have been overshadowed by the upcoming general elections despite improved economic conditions. Economic and political stability are the vital catalysts for revival of the real estate sector in India. In addition, revival of this sector also depends on the regional policies like VAT, land acquisition and other regulatory policies. 

 

In this current scenario where the Rupee is still on the higher side, inflation is yet to reach comfort level and the Indian financial system is caught amidst liquidity trap, we developers can not meet the burgeoning demand from customers without the government’s support. Thus, in order to meet the growing demand, we require the support of government by relaxation of norms to facilitate the growth of the Indian real estate sector. The RBI should also intervene by reducing Bank repo rates to another 100-200 basis points and to further reduce CRR in order to infuse additional liquidity in the cash starved market. Also for the prosperity of the sector at general and customers at large the government should facilitate the efforts of real estate developers by providing minimum infrastructure guarantee under habitation policy, relaxing guidelines on foreign investing in Indian Realty, reducing risk weightage and by giving the sector industry status coupled with reduction and uniformity in stamp duty. Immediate need is also to do away with the restrictions on real estate loans. 

 

Thus it is my firm belief that with our continued growth driven strategies and activities coupled with due attention and support from all-government, banks, bureaucrats and media we will be able to withstand any type of market conditions and would be playing key role in taking Indian economy to next level.

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Emaar MGF, DLF, IREO etc like big gaints: Private equity players boost city's real estate market

Tuesday, April 29, 2014

PUNE: The unbridled influx of professionals and a local economy, which is relatively less affected by the economic downturn, has renewed interest of private equity players in the city's real estate sector like Emaar MGF, DLF, IREO etc like big gaints.

ensured a steady demand for homes and offices in the city. This has helped induce a high interest among private investment firms in the developer companies.

Private equity investments in Pune's realty space bounced back with a 300% jump to Rs 1,464 crore during 2013, a research report by Cushman & Wakefield has said. "With growing housing demand, investments in the right project have the potential to yield healthy returns," the report added.

Importantly, Pune has bagged a fifth of the Rs 7,000 crore total inflows from private equity funds (13% higher than the previous year) in the country's real estate sector for the year. The increase in private equity inflows was primarily due to rising investments in residential assets and other sectors like retail and hospitality, the report said. "While the number of deals has increased to 40 in 2013 compared to 34 in 2012, the average deal size has declined marginally to Rs 175 crore ($28 million)," the report added.

Other factors encouraging private investors include likely entry of real estate investment trusts (REITs), reducing fiscal deficit and expectations of fall in inflation and a pick up in GDP growth post the Lok Sabha elections, the report noted.

Sanjay Dutt, executive managing director for South Asia at Cushman & Wakefield, said, "The residential asset class continues to provide tremendous potential for growth in the coming years. With housing requirements growing across cities and funds investing in the asset class, primarily in the form of non-convertible debentures, providing fixed returns, investments in the right project have the potential to yield healthy returns."

Anuj Puri, country head and chairman of real estate advisory company JLL India, said investors are enthusiastic about India as a vast army of young, educated Indians is set to turn the world's second most populous country into a talent powerhouse. "The consumer base is growing fast as a swelling middle class comes online;

Come 2030, India will have 68 cities with population of more than 1 million, 13 cities with more than four million and there will be six megacities of 10 million plus. This will provide the country with huge opportunities," he said.

Rohit Gera, managing director of Gera Developments, said, "Given the RBI's stance on disallowing banks from lending for land acquisition, the sector requires funds from alternative sources. The first round of FDI in real estate brought poor returns to foreign investors, given the 2008 meltdown as well as the steep fall in the value of the rupee. It is heartening to see the confidence of foreign investors in the real estate sector. There is no doubt as to the demand and desire to own real estate by millions of Indians. To meet this demand additional capital is necessary and this capital in the form of FDI is a welcome step."

Rahul Paranjape, executive director of Paranjape Schemes Constructions Limited (PSPL), said good quality commercial space in key business districts has attracted investors as they offer attractive and steady returns. PSPL has developed a special economic zone (SEZ) in its township Blue Ridges in Hinjewadi. "The SEZ is fully leased and IDFC Alternatives has invested Rs 250 crore to acquire the entire ownership in it," he said.

Vishwajit Zawar, director of Marvel Realtors, said he has shared 30% equity in his project Edge to Capital First for a consideration of Rs 100 crore with agreed rate of return. "The project is selling fast and we have actually begun redeeming the equity stake of Capital First," Zawar said.

Sachin Kulkarni, managing director, Vastushodh Projects, said, "Investment of Rs 40 crore by Avenue Venture Capital in our project Anand Gram is the first PE funding in affordable housing segment. They have already disbursed Rs 20 crore and the remaining amount shall be disbursed within next three months. There is an exit route in equity buy back at the end of 36 months at a fixed rate of return."

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(EVC & MD - Shravan Gupta Emaar MGF): Dr. K Ramamurthy CEO projects Emaar MGF

Friday, April 11, 2014

Q1: Emaar MGF (EVC & MD - Shravan Gupta Emaar MGF) is currently in the process of reinventing and restructuring itself, working towards sustained market leadership. What are the key elements of your strategy to achieve end goals?

A: I’d like to share a small story with you. I was the supervising engineer at the Chennai International Airport and was overseeing pavement strengthening at the site. The job required excruciating accuracy and meticulousness with no room for error as this was an operational airport with regular flights coming in and taking off. You either got it right the first time or it had to be dismantled! A lesson that I learned through this experience, very early in my life, and have kept with me till today is ‘Do it right the first time’.

Through my four decades of experience in the Construction Management Industry, I have identified three key drivers to success; People, Processes and Strategy. We would like to deliver superior value to our customers. Our end goal is to keep our customer’s best interests in mind and ultimately achieve 100% customer satisfaction. We need to have a unique approach that emphasises honesty, integrity, passion, service and professionalism, not only in how we interface and work with our clients but how we work with each other.

Going forward we need to build committed leadership with a focus on the customer; integrated processes and assembly of full teams at the inception of projects; a quality driven agenda set in timeliness, waste reduction and prompt aftercare. We need to foster a commitment to people through reinvesting in training; employee development and performance management to ensure our people are our competitive advantage.

Q2: What are the steps you are taking to enhance the Project Management practices at Emaar MGF?

At Emaar MGF, we are proactively driving accountability, project monitoring, partnering with the right contractors, adopting innovative methods to reduce the number of steps, simplify design and a streamlined and assembly line approach at construction sites to ensure smoother project management with higher success delivery.

We have identified five core processes: 1. Design and Change Management, 2. Planning, 3. Contracting & Procurement, 4. Cost Control & Project Review and 5. Tracking. A combination of all these brings about a successful completion of the project.

Design needs to be better integrated in the construction process to optimise the value of a building to its end users. Through this, the design team can take more responsibility for the implications of their designs in terms of cost, quality, health and safety.

We are putting in place more efficient project management and cost management systems within the company to ensure greater responsibility for people at different levels in the projects and better cost estimation that starts at the concept stage itself. Planning processes have been put into place to ensure that we get more streamlined construction quality and deliveries.

We are developing a more comprehensive and nuanced approach to selecting contractors and evaluating tenders. Contractors will be selected on the basis of achieving long term sustainable value for money as opposed to the lowest tender price. Factors like the quality of the design, proposed method of construction, the likely costs of operating the completed construction and meeting health and safety requirements, must also be considered. We are looking to work closely with contractors of the highest quality, setting tough expectations and grooming them as construction partners in the process.

The need of the hour is to change the paradigm. Quality will be given the highest importance and documentation will be put in place to ensure we achieve quality.

Q3 : What's Emaar MGF’s (EVC & MD - Shravan Gupta Emaar MGF) vision for 2020 and what are your business growth plans, going forward?

A: Our vision is to become the most admired real estate company in India. We want to focus on creating market driven products with well trained and highly motivated real estate professionals, who continually work on providing top quality service for our clients and customers. 

Emaar MGF’s mission in India includes creating value added, master-planned communities that meet the full spectrum of lifestyle needs as contained in the vision of Emaar-Dubai. We hope to achieve this with a high standard of ethics, professionalism and client care, while respecting and complying with safety, environmental and legal regulations. We thus hope to expand ‘market-leadership’ with diverse products serving our customers’ unique needs now and into the future.

As a company, we will consistently deliver 110% of our client’s expectations in every real estate transaction, thereby adding true value to every relationship. Our ultimate objective is to run a profitable business through goal-setting, planning and superior service to our clients through honesty in the pricing and in the marketability of our property.

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Award Ceremony Mr Sanjay Malhotra Chief Financial Officer Emaar MGF & ...

Thursday, April 10, 2014

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