Narendra Modi's rise to impact real estate; Indians set to buy: Ipsos

Saturday, May 31, 2014

Nearly 60 per cent of Indians think that next one month would be a good time to buy real estate with improvement in consumer sentiments following formation of a stable government, according to a survey by global research firm Ipsos.

"Almost six in ten (57 per cent) Indians think the next 30 days will be a good time to buy real estate, such as a house, vacation property or investment property," Ipsos said in a statement.

Founded in France in 1975, Ipsos is an independent market research company controlled and managed by research professionals.

"With the formation of a new stable government at the Centre, the consumer sentiment which was low in the last 2 years has improved significantly. The stock market has already reacted in a positive manner reflecting this change, the real estate prices are expected to go northwards by the end of the year," said Bhasker Canagaradjou, Associate Director, Ipsos Business Consulting.

The realtors reeling under large scale of debt are offering discounts to reduce their inventory levels taking advantage of the new found optimism in the market.

The residential real estate market may see an uptick in the demand and increase in the number of transactions in the near future, he added.

Majority (65 per cent) of people in Russia think next 30 days would be a good time to buy property followed by India (57 per cent), Indonesia (55 per cent), Ireland (51 per cent), Great Britain (47 per cent), Mexico (44 per cent), Australia (42 per cent), Hungary (42 per cent).

"Those rounding out the middle of the pack are from the United States (41 per cent), Germany (40 per cent), Canada (39 per cent), Italy (38 per cent), Argentina (37 per cent), South Africa (37 per cent), Sweden (37 per cent), Poland (35 per cent) and Spain (34 per cent).

The survey was conducted in 26 countries with a total sample of 20,144 adults age 18-64 in the US and Canada, and age 16-64 in all other countries.

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Five ways to check a builder’s reputation

Monday, May 19, 2014

If you are planning to buy a property under construction, don't just go by the brochure claims. A lot depends on the builder's competence and resources. ET lists some checks before you finalize a project

1. Groundreport

You can conduct a quick Internet search by keying in the company name since customer forums, blogs, news reports, property sites, etc, typically have a lot of information. However, it is still a good idea to go in for field research. Talk to customers who bought units in old projects as well as local brokers. The current market price of the past projects in comparison to peers in the same locality is also an indicator of the builder's standing. You should check the credentials of the contractors associated with the project as well.

2. Trackrecord

It is safer to buy from an experienced builder with a good delivery record since he is likely to have a more professional approach, with systems and processes up and running. Besides, you can check his track record and find out how well the past projects have been executed. Remember, lack of transparency is a good enough reason to not buy. A reputed builder will also typically be a member of an industry association, such as the Confederation of Real Estate Developers Association of India (CREDA),or the Builder's Association of India (BAI). These are self-regulatory bodies that have strict norms for builders and any deviation may lead to the company being blacklisted by the association

3. Qualitycertificate

The International Organization for Standardization's 9001:2008 certification criteria for a quality management system is based on eight principles, including customer focus and satisfaction. Therefore, an ISO 9001:2008

audited and certified builder is expected to be more professional in his approach, and it is a good idea to check this before zeroing in on a housing project.

4. Realty ratings

Started in 2010, the CrisilBSE 1.29 % Real Estate Star Ratings (Crest) provide cityspecific assessment of real estate projects, and can help you compare and identify quality projects in a particular city. They also have a National Developer Ratings list, which rates a developer on parameters such as good track record of transfer of clean title, maintaining legal and construction standards, and timely project completion. However, the developer has to register with Crisil to be rated and not many projects are on its radar yet.

5. Financial stability

Is the company overleveraged? Get hold of the company's balance sheet, and if the business has too much debt or is unable to repay its loans, strike off the project. Some listed builders put up their financial details on

their websites. For others, you can contact the concerned Registrars of Companies (ROC) office. The Ministry of Corporate Affairs' website (Mca.gov.in/MCA21/) also has the details. Log on and register yourself to view all company documents under the 'view public documents' section. The site will ask for information like company CIN/FCRN, registration number,ROC details, which should be easily available with the company, or you can run a Google search. Also, check the cash flow statement (not income statement). Companies with strong cash flows are likely to complete the projects on time.

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New government: Home prices may not rise immediately

While the the stock markets, the corporate world and a large section of the country's citizens are celebrating the election verdict, 45-year-old Shailesh Singh, a Delhi-based executive, is a worried man. Singh has been hunting for an apartment in the National Capital Region (NCR) for the past six months but has not been able to zero in on one. Now he is afraid that in the euphoria generated by the Bharatiya Janata Party's (BJP) decisive victory, real estate prices may start rising again, making his purchase more expensive.

Why prices won't move up Singh's worries might be premature. Realty experts are of the view that  while there might be some euphoria-driven rise in transactions and a  marginal rise in prices, this will dissipate soon. "It will take another 12-odd months before prices begin to rise within the sector. And that will  happen only if the new government has a successful first six months and its  initiatives put the economy on a higher growth path," says Anshul Jain, chief executive, DTZ India.

One reason why prices may not rise immediately is that they are already very high in most major metros. The economic slowdown has had an impact on salary revisions, and hence on urban buyers' purchasing power. "Economic activity has to pick up and purchasing power has to rise before we see more demand in the housing sector," says Anshuman Magazine, chairman and managing director, South Asia, CB Richard Ellis. High interest rates are another deterrent. "In
the near term, the new government can't down interest rates, especially with inflation reining high," adds Magazine.

Urgently needed reforms While the new government can't engineer a quick revival of the real estate  sector, it can take several steps that would have a salutary impact in the  medium to long term. One, it could expedite the process of granting approvals to real estate projects. "We expect the new government to be more efficient in granting approvals to real estate projects," says Lalit Kumar Jain, chairman, Confederation of Real Estate Developers' Association of  India (CREDAI). Developers complain that the authorities too should be made accountable for not granting timely approvals. But remember that since real estate is a state subject, the central government can at best create a model of best practices for offering quicker clearances and persuade state governments to adopt it.

The new government also needs to get the Real Estate Regulation and Development Bill passed. "By making developers more accountable, the Bill will revive trust in the sector. Low trust in developers' ability and intent to deliver a quality product on time is one reason why buyers are staying away," says Sanjay Sharma, managing director, Qubrex, a Gurgaon-based real estate consultancy. However, some of the harsher provisions of the draft  Bill need to be modified. Currently it says that if a developer doesn't comply with certain rules, he could be jailed. Experts feel that it would be more prudent to punish an economic offence with a penalty rather than treat it as a criminal offence.

 

The slowdown in sales has caused a severe cash crunch among developers, forcing them to borrow from non-banking financial companies (NBFCs), private equity players and private lenders at high rates, thereby making housing more expensive. "Fund flow to real estate from banks and housing finance institutions needs to improve," says Kumar. This will happen only if RBI relaxes the provisioning norms and caps applied to realty lending.

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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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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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                          Shravan Gupta Emaar MGF,

                          Shravan Gupta, Shravan Gupta MGF, 

                          DLF, IREO, Realty Firm, Real Estate Business

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Emaar MGF Capital Tower: Top 5 Commercial Office Spaces In Delhi NCR

Monday, April 28, 2014

Top 5 Commercial Office Spaces In Delhi NCR: Emaar MGF Capital Tower (EVC and MD Shravan Gupta Emaar MGF)

SIZE OF THE PROJECT : Emaar MGF (EVC and MD Shravan Gupta Emaar MGF) Capital Tower-1, a Grade-A commercial Tower Spread Over 3.60 Lakh sq ft area with G+12 floors

OFFICE UNIT COST: 3.75 Cr onwards

MODE OF PAYMENT: Construction Linked and Down Payment options

YEAR OF LAUNCH: July 2013

Emaar MGF Captal Towers (EVC and MD Shravan Gupta Emaar MGF), Downtown is located in the Central Business District of Gurgaon, on MG Road and at the border between Delhi and Gurgaon. The philosophy behind the identity of the Capital Towers at Downtown is to reflect the inherent characteristics of the millennim city of Gurgaon. The project is a unique mix of form. Function and style, Inspired the very best of architectural designs. The entire complex boats of international quality craftsmanship and maximum utilization of every square foot of space.

Ground floor is dedicated for Commercial Retail hosting businesses that attract custormer footfalls  (Like Banking & Insurance). Restaurants & cafes add to the convenience and charm of doing business at Capital Towers (Emaar MGF). Higher floors are offices which offer world-class plug & play technology support and state-of-the-art facilities that any blue-chip business would expect to find.

SPECIAL FEATURES (Emaar MGF Capital Tower)

·         Stralegically located at the gateway of Gurgaon.

·         Capital Towers is the first commercial development, when one arrives in Gurgaon from Delhi.

·         In close proximity to Guru Dronacharya Metro Station on the Mehrauli Gurgaon Road

·         Unique architectural design with the combination of glass curtain walls, stone cladding and metal finishes

OFFICE AMENITIES (Emaar MGF Capital Tower)

·         Large and efficient open space plans with centrally located core design

·         Modern high speed elevators.

·         Integrated green building standards with high performance glazing and Environmental control systems

·         Fully integrated fire/life safety with refuge areas and communication & control room

·         Integrated landscape

·         Design with formal entry drop-off are

·         100% fully automatic Power Back-up

“Emaar MGF Capital Towers will offer world-class offices which will be the best in quality, design, facilities and lifestyle experience, encompassing the attributes which Emaar MGF stands for. The project being constructed by Shapoorji Pallonji & Co Ltd is progressing well. MG Road enjoys occupancy levels in upward to 90% and there is a latent demand for this location which current developments are unable to service, both from a space and quality point of view.”

Ashish Jerath, VP Sales, Emaar MGF Land Ltd.

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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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Emaar MGF's Project GOMTI GREENS - Another Contribution in Lucknow's Real Estate Development

Tuesday, April 1, 2014

Lucknow, the historical city with multicultural touch ups, courtly manners, beautiful gardens, poetry, music, and fine cuisine patronized by the Nawabs, has made a drastic change in its development today with the rise of real estate property."

Lucknow, the historical city with multicultural touch ups, courtly manners, beautiful gardens, poetry, music, and fine cuisine patronized by the Nawabs, has made a drastic change in its development today with the rise of real estate property.

In the event of its rapid progress, the name behind this goes to Shravan Gupta, the Executive Vice Chairman & Managing Director of Emaar MGF Land Limited (EVC and MD Shravan Gupta Emaar MGF).

Lucknow, also called as 'The Constantinople of India' has become a vibrant city that is witnessing an economic boom and is among the top ten fastest growing non-major-metropolitan cities of India and is often compared to Delhi and Mumbai.

Shravan Gupta, the name for Emaar MGF (EVC and MD Shravan Gupta Emaar MGF) has already served for more than 15 years with his experience in the real estate and financial services sectors. And, today, he is leading with "GOMTI GREENS" project for environment friendly design and construction of residential and commercial properties. Very few of the builders are concerned with the environment, this is where he has created a different position providing one of the biggest contributions to the real estate sector - by stressing the importance of creating environment friendly communities where residents can coexist with nature and live fulfilling lives.

Ashish Jerath, VP (Sales) of Emaar MGF, as spoken in an interview with Property Plus said, "Lucknow is the Political Administrative capital due to which it has been able to benefit with a good turn around in the real estate dealings. There are basically two cities in Uttar Pradesh that are given values - Noida and Lucknow. Also, that because of what it is now, most of the politicians and businessmen have come and settled here. This is also one of the reasons for reluctant increase in price and pride of the city - Lucknow."

"With the eye of the politicians in this particular city, there has been greater development in the real estate business. A large number of housing companies are emerging and Emaar MGF has been the one forward with its high-end residential and commercial properties."

Without forgetting to mention, Burj Khalifa in Dubai, is one of the iconic creations of Emaar. This company has already dreamed for the horizon with its innovations and has further plans for more architecturally aesthetic structures in India.

While understanding the hectic and stress-filled lifestyles of urban centers in the country, Emaar MGF and Shravan Gupta have established a series of path-breaking residential complexes in the country. All the complexes built by the company are based on the philosophy of incorporating nature into modern lifestyles to create balance and harmony.

It has been possible only with the belief and continuous effort of Mr. Shravan Gupta that modern living can coexist with an appreciation of nature. Incorporating this, all the projects of Emaar MGF are designed keeping in view the needs of the local environment and the requirements of a healthy lifestyle and this is exactly what GOMTI GREENS is all about.

Emaar MGF Land Limited is a joint venture between Emaar Properties PJSC ("Emaar") of Dubai and MGF Development Limited ("MGF") of India (EVC and MD Shravan Gupta Emaar MGF). Emaar is one of the world's leading real estate companies, having developed approximately 89 million square feet of real estate across residential, commercial and other business segments and with operations in 14 countries. MGF has established itself as one of the key players in retail real estate development in Northern India and has delivered approximately 2 million square feet of retail space.

The Company commenced operations in India in February 2005 and is into real estate development with a pan-India presence and operations spanning all key segments of the Indian real estate industry, namely the residential, commercial, retail and hospitality sectors. The Company's operations encompass 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.
 
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Modi would enjoy diplomatic immunity if he becomes PM: US report

A US congressional report says that visa ban on Narendra Modi will automatically be lifted if becomes the Prime Minister.

WASHINGTON: The nine-year US visa ban on Narendra Modi will automatically be lifted and he would enjoy diplomatic immunity if he becomes the prime minister, a Congressional report said on Monday.

"Modi is widely considered to be one of the front-runners as prime ministerial candidate of his Bharatiya Janata Party.

 

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If Narendra Modi were to become Prime 

Minister of India, he would automatically be eligible for an A-1 (diplomatic) visa as head of state, regardless of the purpose of his visit," the Congressional Research Service (CRS) said in its communication to US lawmakers.

In 2005, the US had denied visa to Modi in the wake of the 2002 Gujarat riots and has since not revoked its decision.

The seven-page report 'Visa Policy: the case of Narendra Modi' was prepared by the CRS — an independent and bipartisan wing of the US Congress — at the request of several lawmakers who have been opposed to a US visa to Modi.

The views and reports of the CRS are meant to keep the lawmakers informed and is non-binding either on the Congress or the US Government.

Led Congressmen Republican Joe Pitts and Democrat Keith Ellison lawmaker had asked a set of five questions on the prospects of US granting a visa to Modi if he is elected as the Prime Minister of India.

The lawmakers had asked 'What is the process for approval of a US visa if Modi were to apply for one?' and 'Were Modi elected Prime Minister of India, how would his ascension likely affect his prospects to receive a US visa? Would the US be required to grant him a diplomatic visa? How might the International Religious Freedom Act be interpreted should he apply for a visa?'

The report dated March 18 was made public on March 31. It also refers to the recent cases in which Modi was given a clean chit by the courts and investigative agencies.

In December 2010, a Special Investigative Team appointed by the Supreme Court of India had found "no substantial incriminating evidence" that chief minister Modi had let the rioters rampage against the Muslims in February 2002, it said.

"On the other hand, the Gujarat high court continues to criticize chief minister Modi for his 'inaction and negligence' during the violence," the report said.

The report said Modi as the Prime Minister would enjoy diplomatic immunity.

However, it is only US President Barack Obama who can exercise his authority to deny a visa to Modi as the Prime Minister of India if he deems that would be detrimental to the American interest.

In August 2011, Obama had issued a proclamation in this regard pertaining to foreign nationals involved in war crime or systematic violence systematic against civilian populations.

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Attractive residential destination: Emerald Hills, Palm Gardens and Palm Springs

Sunday, March 30, 2014

Emaar MGF is led by Shravan Gupta who is the Executive Vice Chairman as well as the Managing Director of Emaar MGF. It has been observed that under the guidance of Shravan Gupta, Emaar MGF has attained great heights in terms of prosperity and growth. The group has already delivered some iconic and award winning projects as well as ongoing projects that are focused on the provision of better living as well as providing a more luxurious lifestyle for the masses. In this regard, it is very important to note the current activities of the group related to its Gurgaon projects. The Emerald Hills, Palm Gardens and Palm Hills are few of the projects which are about to set a great example. 

 

With his expert & strategic skills, ShravanGupta, Emaar MGF has entered into projects that would ultimately benefit not just the State but the nation as whole and in this regard it has been seen that the development of any property has ultimately led towards the benefit of not just the affluent class but the middle and working classes as well. This is due to the fact that everyone belonging to every class is a stakeholder in the organization and this organization also provides various opportunities to individuals of different classes so that the society in general could take as much benefit from it as possible. 

 

Some of the projects in Gurgaon are aimed towards providing a luxurious living & lifestyle for the upper middle class, Emerald Hills is meant to attract individuals who want to live a healthy lifestyle which is surrounded by a safe and secure environment. A great thing about Emerald Hills is that it is located at a very beautiful area of the city and that it is bound to attract visitors from all sides of the State. The other projects such as Palm Gardens and Palm Hills are meant to attract those individuals who want to live near the economic and business centers of the city. 

 

It is also important to note here that Emaar MGF tends to provide some of the best quality architecture which can withstand almost any natural disaster such as earthquakes and floods. It has been the priority of the group to ensure that proper measures are to be taken so that the safety and protection of the inhabitants of the projects is accomplished in the best manner possible and for this reason the group has also heavily invested in its overall research and development phases which has ensured that the best infrastructure is provided to the people that is in accordance to the most recent scientific methodologies related to construction and buildings. 

 

All of this has now ensured that a better and safer environment is provided to the people so that they may enjoy the best benefits of life in the simplest of manner and also that they can look towards their future and feel content that they have invested in the right place which can give them the returns that can be beneficial for their children as well.

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Emaar MGF Commerce Park, a prestigious commercial and residential location

In recent times, Gurgaon is seen to have developed itself as a premier business destination especially at the center of its sector 61 which is at the Golf Course Extension Road. According to many analysts the Commerce Park situated in Gurgaon is widely regarded as being a very promising new property that could deliver in some of the best possible returns for every stakeholder. Here, it is important to mention the name of ShravanGupta, EVC & Managing Director, Emaar MGF who is leading the project with high ambitions. Mr. Shravan Gupta is known to do all he can so that this Commerce Park becomes successful and thereby improves the image of the whole city.

The Commerce Park is a conceptual development by Shravan Gupta of Emaar MGF offers exotic selection of the best possible facilities and this includes Gurgaon’s first ever indoor swimming pool which is temperature-controlled, amenities centers and sprawling squash courts, car parking comprising of multiple levels that can accommodate over a thousand vehicles, best possible security mechanism alongside video surveillance and close proximity to the main International airport of Delhi. 

 

CommercePark has a structure comprising of reinforced cement concrete frame having flat slab, column construction and waterproof RCC roof having inverted rigid insulation. It has high-speed traction elevators which are computerized and serve at all levels of the building, the building also has separate parking elevators alongside access control present at the main elevator lobby. The building is reliant on a centralized cooling system which is dependent upon energy efficient water cooled chillers that are properly equipped with BMS controls.

The building also has ducted ventilation systems as well as smoke extraction facility present at the basements. The building has automatic fire sprinklers which are properly integrated with the system of fire alarm at every area; this also includes centrally located main alarm system alongside its control panel. 

 

For the assistance related to telecommunication, the building of EmaarMGF has tag blocks present at every level which provides the services of some 3 to 4 telecom service providers. The building has double heighted expansive entrance lobby which has wood and stone veneer panels at its backdrop wall as well as stone flooring that has accent bands & steel inserts which is also equipped with concierge desk. 

 

All of these features make this commercial area an extremely lucrative place where a lot of business activity can be done in the best possible manner and this commerce park is also an example for the rest of its competitors who can learn from its success and then apply the same models to attain success.

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Emaar MGF's Imperial Gardens, appreciating in value

Emaar MGF Imperial Gardens is located in next Gurgaon.

It is one of the most attractive projects that are being offered by Mr. ShravanGupta who is the Executive Vice Chairman as well as the Managing Director of Emaar MGF. The main concept behind the Imperial Gardens is to offer some of the best living standards and luxurious, Mr. Shravan Gupta has taken a keen and personal interest in the Imperial Gardens project. The project is very well known for providing a greener and healthier environment which is much desired in present times of increasing pollution. 

 

Emaar MGF’s Imperial Gardens provide some of the best designed floor plans which are meant to maximize the usage of floor spacing that is provided for the tenants. The designers have taken a great note of everything that is related with comfortable living such as providing balconies outside the main kitchen area which can greatly serve individuals as they can have a refreshing cup of tea in the morning time. 

 

The in-house design of Emaar MGF’s Imperial Gardens have also prioritized the safety and security of their architecture and this is why they have built several safety mechanisms that should assist in terms of any emergency event such as fire emergencies, bomb threats and so on. The main aim here is to look after the safety and security of civilians. Besides this, a great deal of emphasis is given on the beautification of the project and for this purpose the developers have taken the services of some of the best designers in India. Their overall aim is to give a feeling of relaxation to the masses so that they can live their lives in a better and more efficient manner. 

 

The well designed infrastructure of Imperial Gardens possess a family room that has vitrified tiles along with acrylic emulsion, it has an entrance door with hardwood frames. The master bedroom has laminated wooden flooring, modular switches, plaster with acrylic emulsion, external doors and windows with aluminum frames and shutters and internal doors with hardwood frames alongside painted flush doors. The Kitchen has a combination of vitrified tiles alongside ceramic tiles, it has plaster with acrylic emulsion, granite counter top, chimney, modular switches and a single drain board sinks with CP fittings. The terraces and balconies have anti skid tiles and weather proof paint.

It is important to note here that all of the services provided by Imperial Gardens are up for grabs at exclusive rates that could be found nowhere.

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Gurgaon- Commercial and Residential hub of NCR: Emaar MGF News

The Gurgaon real estate market is growing at a steady rate be it in terms of Retail, Residential or Industrial space. Most of the absorption in Delhi NCR is likely to focus around Gurgaon and Noida, reason being the provision of much desired amenities in these areas. 

 

Reality players like DLF, Ansal API, EMAAR MGF, Assotech Realty, Microtek Infrastructures, Supertech, Amrapali, Gaursons India Ltd, etc, are coming up with new commercial projects in the NCR. Thus, private sector is revamping NCR’s environs, bringing in the much-needed impetus to the sector. According to realty experts, the impact of the subdued economic sentiment and the rising inflation rate on the realty market, and the attractiveness of a city’s business environment, can largely be gauged by evaluating the health of commercial realty in that city. 

The key factors that have fostered the rapid Realty growth as well as people’s interest to invest in residential apartments in Gurgaon include: 

 

CLEAN AND GREEN

The increasing pollution has deteriorated NCR’s environment to a great extent but still there are regions like Gurgaon in NCR where this has been kept well in consideration which is evident through the fact that large spaces are allocated especially for parks and gardens. This enhances the beauty of this area while keeping air clean and fresh.

 

CONNECTIVITY

In the hustle bustle of today’s busy life, easy connectivity from home to workplace and vice versa, as well as to other places becomes a necessity. And Gurgaon offers it all, you get less traffic, wider roads and most importantly the MNCs are located in close proximity. “Impact of improving infrastructure: New and forthcoming growth corridors along Gurgaon and Noida like Yamuna Expressway, Noida Expressway, and Dwarka-Gurgaon Expressway have recorded tremendous increase in commercial and residential activities in the past few months and will continue to drive the commercial market activity.” Says Shravan Gupta, Executive Vice Chairman and Managing Director of Emaar MGF.

 

SOCIAL INFRASTRUCTURE

The basic necessities including educational institutes, medical facilities, and entertainment hubs are abundant in Gurgaon and moreover Realty Developers are inclined towards providing all these to attract more and more people to invest in this location.

The quality of life that is accessible in Noida and Gurgaon is quite superior. Further, the new developments like Emerald Hills by Emaar MGF which is an exclusive gated, secure, impeccably planned development in Gurgaon where all the residents' needs are within easy walking distance. Apart from this, the lavish outdoor and indoor spaces, parks, sports facilities and shopping centres complete the living experience.

 

LUXURYHOMES

Gurgaon has an abundant supply of luxury homes, which keeps the elite class interested in this area. The standard apartments feature spacious living rooms with attached balconies overlooking communal gardens and amenity building, grand entrance lobbies, high speed elevators, elegant lift lobbies and much more which catches the attention of people longing for luxurious living in NCR.

According to, Mr. Ashish Jerath, Sales Head (North), Emaar MGF, “Emaar MGF by virtue of its lineage, leverages expertise in developing unparalleled luxury housing in India. The launch of Marbella marks the commitment of Emaar MGF to continuously develop properties with modern design concepts of international standards”

JOBOPPORTUNITIES

The fact that Gurgaon continues to be the first stop for MNCs, speaks volumes about the sub-city. It is heartening to see authorities to be in tune with the time and planning infrastructure for new areas as per changing needs. “Real estate in Noida and Gurgaon has picked up and continues at a substantial rate because people find jobs in close proximity” says Nitin Batra, owner of Nitin Associates, a local consultant.

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