IMPORTANCE OF CUSTOMER CONNECT WITH EVOLVING REALTY SECTOR

Today real estate sector is growing and developing at a rapid pace. Realty segment is one of the biggest contributors to India’s GDP and generating employment opportunities as well. In every sector and industry, customers are remarkably important because they are the driving force behind their operations and real estate sector is no exception. Bearing in mind all these important aspects it’s very important that customer’s needs, requirements and rights are given due respect and consideration. Today, real estate sector is flourishing and is undergoing evolving phase. Earlier, customers used to consider real estate to be confined to just residential space. But now with time, real estate has grown and it now covers commercial as well as mix land projects. People now look real estate as an investment opportunity too, as the returns are higher and safer than any other investment option. At this point of time when realty sector is on its way to grow and develop significantly, connecting with customers is very essential.

With advancement in technology, access to information is much easier. Everyone nowadays is tech-savvy and opts to find information of any kind online. Here, comes the need to connect directly with customers. It is also applicable to real estate sector and due importance should be given to customers not just at the time of sale and purchase of property but also after sale services should be taken care of. These are the factors which help realty firms to get recognition and help them in creating a solid base in market as well. Good customer care makes the patrons happy and they also recommend the realty firm to others and word of mouth publicity is done. They may also come back as second home buyers or future investors. They will not stop themselves to recognize and praise the good work and will also turn to online platforms to recognize the eminent players. Online platforms are therefore becoming more important as technological advancements have brought realty sector online too. Updates about property, news, reviews and all the related information is available online and in fact many property developers also give option to book properties online.

India International Property Awards (IIPA), support the fact that buyers being the back bone of realty sector, should have full right to information about each and every aspect of properties they are investing in. Not just this, they should also be able to put forward their own views, good or bad, about the realty firms and their works. By doing so, everyone interested in realty sector would get authentic information, the source being reliable and trustworthy. Being the actual users of the property, customers and general public would always present correct information about the quality of work of any particular developer.

IIPA Awards intends to recognize and appreciate all those real estate firms and fraternities who have done excellent works in their fields and have supported the growth of this sector. By understanding the importance of correct, true and reliable information for selecting the most deserving nominee, IIPA has brought online polling as a robust tool in the hand of customers. For the first time in the history of Indian Real Estate, Online polling would be done to get authentic and reliable information. Such information would be true and correct in every way as the basis of such data are the views and assessments of actual users.  IIPA has made the online polling option available for all and anyone ranging from developers to customers and general public can cast their votes in the favor of their best nominee under different categories. The results would be accurate, honest and reliable. Online polling would bring all the Realty developers, networkers and realty segment specialists on a common platform and their work would be reviewed by the actual users. Getting results out of such systematized and candid system would help the entire realty sector and everyone associated with it to distinguish the excellent and finest of works.  Online polling would allow participants to choose the most eligible contender and the results would be reliable and genuine. IIPA Awards by initiating online polling intends to recognize and acknowledge the works of those realty fraternities who take that extra effort for the happiness and satisfaction of their consumers. They understand their duties toward the buyers and realize the value of their hard earned money. Online polling is to select best of realty players, extracts results from actual users and that feeling of getting recognized through true and honest views would be fulfilling and very pleasing. This would not only help realty fraternities to showcase and display their good work but also help in building strong goodwill and brand name in the market.

SOURCE: http://iipa2015.blogspot.in/

Your RWA is for your own good

Mr Sharma was looking for a home for his two daughters who are in Delhi for their higher education. Since security was a major challenge in metro cities, they were looking for abode which has a family neighbourhood and arrangements for safety along with amenities for after-work relaxation.  For them- a colony with efficient Resident Welfare Association (RWA) was a relevant choice!

As very recently Delhi government was batting for Mohalla Sabha, to bring local governance into play, RWAs have a different take on the move. They want the present government to empower their committees rather than create one more level. At the same time, RWAs also want the associations to remain apolitical so that development remains away from policy paralysis.

So what do these RWAs do?

This is a growing trend not just in big cities but also in Tier II towns where gated communities and colonies have taken over the realty landscape. Usually such associations are responsible for maintaining common infrastructure by giving out responsibilities to all its members.

Moreover, these associations hold legal identity if registered with the government. In fact, they have a significant role as these are bound to represent the concerns of residents. The latest one is Supertech case in Noida where RWAs went up to court against illegal construction of the tower.

Impact of RWAs on realty values

An efficient RWA gives way to well-maintained infrastructure including maintenance of parks, security guards, day-to-day affairs and public events. Hence, property experts have different view on it.

“RWAs impact property values but in a very indirect way. Who doesn’t want efficient security assistance or a green well maintained park. These things always play a key role while making purchasing decision, especially amongst young buyers as most of them are working and look for a place to relax and consider safe,” says Himanshu Gehlot, one of the local property consultant and ex-employee of a leading builders’ firm in North India.

Buying in a colony with RWAs is always a better option. It offers a better lifestyle and a better neighborhood for your children to live in!

SOURCE: Magicbricks

PE investments in real estate up 85% in January-March period

Private equity (PE) investments in India’s real estate companies rose 85% in the January-March period from a year ago, a report said.

PE firms invested Rs.5,168 crore in real estate firms during the period, up from Rs.2,800 crore a year ago, the report from global property consultancy Cushman and Wakefield said. However, compared to the October-December quarter, the investment was 5.6% lower.

Improving macro-economic conditions and increasing capital requirements of the Indian real estate sector have sparked PE firms’ growing interest in real estate firms.

“Amidst liquidity issues faced by residential developers due to subdued demand and restricted access to debt funding, PE funds have emerged as an important alternate source to meet the funding requirements,” the report said.

The residential sector attracted 53% of these funds, while the rest went to the office sector.

Total PE investments in residential assets, which stood at Rs.2,752 crore, is the second highest since 2008. In the commercial space, total investment at Rs.2,416 crore is the third highest since 2008.

“The increase in PERE (PE in real estate) investments during Q1 2015 was due to improved market sentiments and higher investments in residential and commercial office assets, which increased by 158% and 68% respectively compared to Q1 2014,” the report said.

While the total number of deals fell to 16 in the first quarter of 2015 from 18 in the same period last year, the average deal size more than doubled atRs.320 crore from Rs.150 crore in the first quarter of 2014, the report said.

Relatively attractive return on investments and easy exits, increased focus on housing from the government and high funding needs are likely to sustain the high investments in residential assets, it added.

The report said that leased office assets such as information technology (IT) parks and IT-SEZs (special economic zones) are likely to gain “significant interest from foreign investors, due to low risk owing to high occupancy levels along with stable rental yields and significant potential for capital value appreciation”.

Around $3.4 billion has been invested in the commercial office sector since 2011, compared to only $1.1 billion between 2008 and 2010.

“With improving macro-economic conditions, enabling policy environment, recovering demand, attractive valuations and increasing capital requirements of the Indian real estate sector, PE funds are likely to increase their investments in the next few years,” said Sanjay Dutt, executive managing director, South Asia, Cushman and Wakefield.

He said residential and leased office assets will remain favourites with PE funds as capital demand remains strong in residential projects. With a 35% increase in office net absorption, there is ample scope for the funds to generate high yet stable rental incomes.

Sanjay Mehrotra, national head (sales and marketing) at L&T Realty, the real estate arm of Larsen and Toubro Ltd, said the improved return on the equity on real estate investments could be one of the factors that are drawing PE companies into India. However, he cautioned that it is very difficult to match up with the expectations of PE firms.

SOURCE: Livemint

Maharashtra collaborates with Israel on Smart Cities

Smart Cities in Maharashtra could very well end up looking as "smart" as Tel-Aviv, the capital of Israel. 

In a key stride in collaboration between the State and Israel, Maharashtra Chief Minister Devendra Fadnavis and Tel Aviv Mayor Ron Huldai on Monday agreed to cooperate in building smart cities.

After the discussions held on Smart City partnership, the two parties-Maharashtra government and Municipality of Tel Aviv-agreed to discuss common challenges faced by modern cities and possible solutions. They would also explore the possibility of using Indian IT capabilities to increase efficiency of smart urban solutions.

On a four-day visit to the country, Mr. Fadnavis was briefed on the concept and implementation of the Smart City project in Tel Aviv, which was adjudged as the ‘World’s Smartest City’ at the Smart City Expo World Congress held in 2014.  Mr. Fadnavis held discussions with Mr. Huldai, besides meeting other experts and officials.

Maharashtra “aspires to create sustainable and friendly urban spaces that integrate the use of technology, social media, community participation and e-governance to build smart cities of Maharashtra like Nagpur, Mumbai, Amravati, Aurangabad and Nashik to a global standard,” the joint statement said.

In a wide-ranging discussion, the two sides agreed to cooperate and facilitate each other in “exchange of information and best practices,” particularly in Tel Aviv, in areas relating to “community outreach and participation through use of social media, open data; online municipal services; traffic and parking management through IT; security and emergencies.” Green construction and rational land use to create an appealing urban environment was also discussed. Stress was also given on promoting a Start-up City and youth entrepreneurship.

Mr. Huldai invited Maharashtra to send a delegation to the Tel Aviv Innovation Festival on September 7-8to understand the use of innovation in building Tel Aviv as a Smart City. Mr. Fadnavis, who later said the discussions were “fruitful,” agreed and in turn invited Mr. Huldai to Maharashtra to continue the discussions.

During his tour of Israel, Mr. Fadnavis, who has stressed on attracting investment to the State, will attend an exhibition on agricultural technology, Agritech Israel 2015,  and explore areas of co-operation including in emergency preparations and crises management technologies.  Agritech Israel 2015 is one of the world's most important exhibitions in the field of agricultural technologies.

Mr. Fadnavis is also scheduled to be a keynote speaker at a symposium on Indo-Israel collaboration on Make in India to attract investment to India’s most industrialized state.  He would also meet Israeli Agriculture Minister Yair Shamir, senior officials of various ministers, heads of leading IT companies and firms specializing in research.

SOURCE: The Hindu

Hope for houses in heritage zones

For years, 78-year-old S L Mittal has been waiting to add a floor to his one-storey residence in Kotla Mubarakpur. But because Mittal's property is 92m from the ASI-protected Kale Khan Ka Gumbad, he has been unable to get the nod. But, a new move by the culture ministry to bring amendments in the ASI Act of 2010 could grant him his wish. 

The culture ministry has proposed to categorize all centrally-protected monuments as A, B and C based on significance, location and size. Protection accorded to each building will be based on the category it is placed in. 

If Kale Khan Ka Gumbad is categorized B or C, Mittal might just receive permission to build the first floor—with the prohibited zone radius getting reduced from 100m to 50 or less. Mittal is not alone; there are thousands others waiting for the amendment to undertake essential repairs and constructions in their homes. 

Curbs on construction within 100 metres of monuments were first imposed when the ASI Act was framed in 1992, but permissions continued to be granted on case-to-case basis. 

However, the 2010 amendment and formation of National Monuments Authority led to a blanket ban on such constructions. Strict regulations were imposed on development within 100-300m of monuments. 

Delhi has hundreds of monuments located in midst of residential colonies, mostly in south and central Delhi. In areas like Gulmohar Park, Safdarjung Enclave, Hauz Khas, South Extension, Mehrauli, Saket, Malviya Nagar, Rana Pratap Bagh and Nizamuddin, the new law has hit hard. 

People who built homes or bought plots much before the ASI Act came into force in 1992 say the curbs are a travesty of justice. "I can't move a brick in my single-storey house that was built in 1969. Some of my family members have medical problems and I need a second floor. Since my house lies 97m from the boundary of Biran Ka Gumbad, I cannot construct anything," said a Green Park resident. 

Almost 80% of South Extension falls within prohibited and regulated zones. 

"The colony was built in 1959. At that time, most people could only afford a ground floor. As time passed and people came into money, they built additional floors to accommodate their growing families. Then the Act came into force. Many houses are now falling to pieces because just getting permission for repairs is a long process. The property value here is less than that in even Okhla," said Manjeet Singh, general secretary, Association Of Citizens. 

In Shivalik Colony, empty plots can be seen on the main road and these serve as parking lots. "The owners cannot build their homes here because the plots fall in the prohibited zone of Sarai Shahji. They are just waiting for some relief in ASI Act so they can build their dream homes," Ajit Banerjee, a resident, said.

SOURCE: The Times Of India

SAYA HOMES LAUNCHES SAYA GOLD AVENUE

Ghaziabad: Having been already known for quality products and on time delivery of projects, NCR realty major Saya Homes today in an exclusive press conference, unveiled its newest offering to the public ‘Saya Gold Avenue’. On the successful completion of an incredible journey of 16 years, Saya homes has launched a new residential project “Saya Gold Avenue” which is strategically positioned in Indirapuram, Ghaziabad.

The project comprises of 2/3/4 BHK units with varied sizes ranging from 1,060 per sq. ft.(98.476 sq. mtr.) – 2,485 per sq. ft.(230.862 sq. mtr.) to be built across 5.25 acres with 8 towers comprising a total of 1,620 units. The homes at Saya Gold Avenue will be embellished with the best in class features and offer exceptional appreciation value that add to the pleasures of living at this residential marvel. Modular switches and Socket/Telephone points are provided in all rooms. Water softening plant for general supply of water and FTTH-Optical Fiber for state of the art services in the whole society are some of the key specifications of the project. Saya Gold Avenue is designed and conceived by world’s best in class associates. All apartments have 8’-0” door height and spacious balconies for royal impression. Three tier 24*7 Security with CCTV camera and video phone is installed in each apartment. Each tower has high speed branded elevators and the entire structure is earthquake resistant. Saya Gold Avenue exudes perfection in every respect.

Being a welcome addition to the Saya Homes, Saya Gold Avenue is located at a prime location of Ghaziabad with zero kms from NH 24. The proposed Metro Station will be at a 5 min walk and is just infront of Shipra Mall, one of the most popular malls in the NCR. Being at a close proximity of just 2 kms from Pushpanjali Hospital and short distance to Delhi makes it a most desirable locality to reside in. Saya Gold Avenue is nestled just 10 kms away from Anand Vihar Railway Station and 30 kms from IGI Airport. The project is based at a fast developing place and it is a favorable spot for investment too. Situated in the heart of fully developed Indirapuram, Saya Gold Avenue is a perfect blend of modernity, luxury, comfort and affordability. The project offers a current BSP of Rs. 4,295/ sq. ft.(46,231/sq. mtr.) and the company plans to deliver it by December, 2018.

Mr. Vikas Bhasin, MD, Saya Homes said, “With our objective to provide various facilities and amenities under one roof for the sheer comfort of our customers, we are now ready to launch our new project. “Saya Gold Avenue” is nestled in prime vicinity having a well-connected network of roads and has close proximity to metro. It has all the important civic amenities like hospitals, schools and malls in its nearby areas. The project is filled with all the features for the perfect stay of residents. The lush green landscape makes the whole project balanced, ecological and harmonious. Today we also happen to complete 16 years of hard work and dedication and would like to take this opportunity to thank everyone associated with us”.

SOURCE: https://iccplpropertynews.wordpress.com/2015/04/27/iccpl-property-news-95/

A mission for clean, green, smart city unites agencies in Gurgaon

Gurgaon's evolution into a smart city will have two phases, says the district administration, the brains behind this ambitious project. It has also decided to rope in civic bodies HUDA and MCG, power discoms DHBVN and HPVN, and the Power Grid Corporation for this purpose. While the first phase will see development of sectors 25A to 80 in New Gurgaon besides Civil Lines, the rest of the city will be taken up in the second phase of the project.

As a smart city, Gurgaon will eventually have systems to harness renewable energy and create virtual infrastructure for seamless flow of information between departments, while improving on all other regular fronts - beautification, consumer indexing, GIS mapping and essential public services.

Gurgaon's deputy commissioner T L Satyaprakash said the first step in working towards this, to formulate a course of action and have full information about the status of each service being provided to residents by departments. "We have appointed nodal officers to study and provide information on services managed by the

departments. A follow-up meeting will be held after these officers are ready with their proposals and related data," he said.

Satyaprakash said traffic DCP Vinod Kaushik been made the nodal officer for preparing a draft plan and providing details for a smooth traffic plan in the city. He said additional deputy commissioner Vinay Pratap Singh has been made the nodal officer for renewable energy, while HUDA superintendent engineer A K Gupta and MCG chief engineer R K Singhla have been appointed nodal officers for water supply and waste water management, respectively. DHBVN's general manager Sanjeev Chopra will provide data on power supply infrastructure, while MCG's chief town planner Anirudh Sharma will work on GIS mapping of the city's infrastructure and services.

"Details of the master plan of each sector will be studied, besides electricity demand, power supply arrangement and future development plans. Measures to harness renewable energy, beautification, consumer indexing and GIS mapping, as well as essential public services such as treated water supply and waste management, will also be incorporated in this project report, which will be discussed with the Power Grid," he added.

Satyaprakash added that the Power Grid Corporation has offered to support the local administration to provide all necessary techno-economic advisory to help Gurgaon achieve the status of a Smart City.

Source: The Times Of India