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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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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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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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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