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’

(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

Related Search: EVC and MD Shravan Gupta Emaar MGF, Emaar MGF, Shravan Gupta Emaar MGF, Emaar, Realty Business, Indian Realty Market DLF, BPTP, IREO, Parsvnath Developers.

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

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."

Related Search:Emaar MGF, DLF, IREO etc, 

                          Shravan Gupta Emaar MGF,

                          Shravan Gupta, Shravan Gupta MGF, 

                          DLF, IREO, Realty Firm, Real Estate Business

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.

Gurgaon- Commercial and Residential hub of NCR

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.

‘Client Should be at the Core of Construction Process’ : Emaar MGF

Real Estate major, Emaar MGF is in the process of reinventing itself  with restructuring of its senior management in order to achieve its  twin objectives of speedy delivery and high quality, by focusing on project management. DR. K. RAMAMURTHY, Chief Executive Officer, Projects, Emaar MGF and a project management expert, in an exclusive interveiw with VINOD BEHL, shares the Vision 2020 of Emaar MGF and company’s business growth plans, focussed on maximising real estate  asset value and delivering superior value to customers with a view to re establish the iconic brand and attain sustained market leadership. Excerpts: 

Dr. K. Ramamurthy, CEO Projects, EMAAR MGF 

Q: Emaar MGF is currently in the process of reinventing and restructuring itself with the aim to attain sustained market leadership. What are the key elements of your strategy to achieve end goals?

k To begin with, I would like to share a small story with you. My firstjob as a Supervising Engineer required me to look after the construction of the Chennal International a Airport. I was overseeing the pavement strengthening. It was a working airport, with aircraft landing at regular intervals. I had to get the compaction levels right — even in the first time around as otherwise the pilots would re use to [and the airplanes. The job required excruciating accuracy and meticulousness. My mentor, a well known American architect, Joseph Allen Stein, demanded high levels of workmanship from me as even the slightest er or would amount to dismantlement. The experience taught me a lesson — do it right the first time and this set the right type of thinking in me. To answer your question now, I have realised, in my four decades of experience in the Industry, that the key drivers to success in Construction Management are people, processes and strategy. We would like to deliver superior value to our customers. Our end goal is to create the best and most favourable product with our cusomers’ interests and satisfaction in mind. We shall need to have a unique approach with unparalleled results. I want great emphasis on honesty, integrity, passion, service and professionalism in not only how we interface and work with our clients but also how we work with each other as a team. 

Going forward, we will be emphasising on the following things: 

Focuson the customer Bringing in all vendors! contract ors at an earlier stage as opposed to the relatively later stage that is applied by a full procurement/tendering process. This makes all parties work from the starting stage to deliver a project, besides keeping in mind the nature of the prolonged contractual relationship.

Integratedprocesses and teams: This involves assembling the full delivery team - contractor and designer, at the inception of a project to negate any fragmentation of the design and delivery process.  

Qualitydriven agenda: With zero defects, delivery on time and as per budget, innovation, waste reduction and prompt aftercare as essential elements. 

Commitmentto people: By re-investing in the training and development of our prime asset, our staff in order to maintain and develop the business. We need to give both time and importance to performance management and employee development. We shall need to believe that our people are our greatest strength and competitive advantage. 9th ANNIVERSARY ISSUE I REALTY PLUS I 83.4

Q: Today, the real estate sector is faci ng the twin problems of questionabLe quaLity and delivery defauLts. How does Emaar MGF on its part, tackle these two serious issues? A We will be focussing on our contract ors, who shall be selected on the basis of achieving long term sustainable value for money and not just the lowest price. The lowest tender price alone wilt not guarantee value for money over the full life of the building. Consideration also needs to be given to the quality of the design, the proposed method of construction and the likely implication for the costs of operating the completed construction over its whole life and meeting the health and safety performance needs. With evaluat ion of tenders, we are now going to give different weightage to the quality and price depending upon the complexity of the project. Oiy contractors who have demonstrated that they can construct buildings of the ‘right’ quality and within given budget, will be selected. 

Construction design should not be a separate process but be integrated with the whole construction process so that the design team can take more responsib ility for the implication of their designs including cost, quality and health and safety. We are keeping the crucial asp ect in mind for optimising the value of a building to its end users. 

Q: What’s Emaar MGF doing to put project management systems in place to check any time and cost overruns and maintaini ng quaLity standards? A: Project Management entails planning, organising, securing and managing resources. A combination of all these brings about a successful completion of the project. I have identified five core processes for streamlining the projects which include design and change management, planning, contracting and procurement, cost control and project review and tracking.

We are going to create responsibility matrices for the different people at different levels in the projects. We are putting in place a ‘cost management system’ that enables cost estimating processes to start at the concept stage itself. We would like to work closely with contractors of the highest quality, grooming them as construction partners in the process. We would like to set tough expectations from our contractors and explain our methodo logy and thinking to them. We would like to pick contractors who truly understand the challenge and are able to understand projects from our point of view. Contractors must be held accountable and the attitude should be that ‘we are in it together’. Safety has to be accorded the pride place in our working.

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. We have already put in place a strong and well-qualified ‘in-house’ PMC team, besides setting up a central procurement cell.

IN ORDER TO MAINTAIN CASH FLOWS, DEVELOPERS HAVE STARTED ABSORBING PRICE HIKES AND THEY ARE WORKING ON LOWER MARGINS : Emaar MGF

Q: How wilt Emaar MGF create different iation to stand out in this crowded and highly competitive real estate market?
A: We are getting into three major areas to make a big difference. Firstly, we are putting in place Reliable Project Mana gement, which entails a comprehens ive understanding of the stages in cons truction, a detailed knowledge of risk management, regular monitoring of key milestones and effective coordination of all those involved in the construction supply chain.
Secondly, we are developing a system by which construction projects will get measured to assess whether costs, time and quality requirements are being met. This will also aid learning to disseminate lessons for future.
Thirdly, we are making efforts to see that contractors are remunerated in a way that incentivises them to deliver good quality construction on time and within prescribed budget.  
 

Q: One major reason for property buyers’ growing disenchantment is that developers are not offering value to their customers. What’s Emaar MGF doing in this regard? A: Property buyers’ growing disenchantment is due to the fact that they are not able to ‘reap’ the benefits of ‘better construction’ from builders, which is largely missing in the recent times. According to us, there are five key drivers which need to be put in place for ‘better construction’. These include committed leaders hip, focus on the customer, integration of process and team around the project, quality driven agenda and commitment to the people.
Emaar MGF is targeting to meet the expectations of ‘end-users’ / ‘property buyers’ by reducing capital costs by 10 per cent, construction time by 10 per cent, reducing defects, and accidents by 20 per cent, besides increasing predictability of project costs and time estimates by 10 per cent and finally, increasing productivity by 10 per cent.  

 

Q: Lack of transparency and growing fraudulent transactions especially in the absence of a reaL estate regulator, seriously calls for restoring the confidence of customers/investors. What’s your comp any doing in this regard?

84 REALTY PLUS 9th ANNIVERSARY ISSUE

www.realtyplusmag.com

A: First of all, we welcome ‘Real Estate (Regulation & Development) Bill’. 2011 and the provisions contained in that. The Real Estate Bill as approved by the Union Cabinet is a pioneering initiative aimed at delivering a uniform regulatory environm ent to protect the consumer by way of quick resolution of disputes and by ensuri ng systematic growth of the sector.
We are going to ensure that all prec onstruction approvals are in place bef ore we even go for soft —launch. We are actively working towards improving ‘cons truction performance’ by putting emp hasis on quality while at the same time aiming to reduce costs.
We are promoting ‘good business pract ices’ and initiatives have been taken in this regard. Not only that, we are putting in place reliable systems for monitoring and measurements of these benefits esp ecially in terms of ‘cost-savings’. We are on the mission to train more staff to be effective construction client.  

 

Q: What’s the ‘Vision 2020’ of Emaar MGF and going forward, what are your busin ess growth plans? A: Our vision is to become the most adm ired real estate company in India. We want to focus on creating market driven products with well trained and highly mot ivated real estate professionals, who continually work on providing top quali ty service for our clients and customers. We would like to earn the loyalty of our customers and maximise the real estate asset value, thus achieving greatest ope rating efficiencies and realising highest profit—performance. 

Emaar MGF’s mission in India includes creating value added, master-planned communities that meet the full spect rum of lifestyle needs as contained in the vision of Emaar-Dubai. This we hope to achieve with the finest real estate services in the region, based on highest standard of ethics, value, professionalism and client care, while at the same time respecting and complying with safety, env ironmental and legal requirements. We thus hope to earn the loyalty and trust of our buyers and enlarge the ‘market-leade rship’ with diverse products and by serv

ng our customers’ unique needs.
Our ultimate objective is to run a profita ble business through goal-setting, plann ing and superior service to our clients through honest pricing and marketability of our property.  

 

Q: What do you think are the inherent strengths of Emaar MGF which you would like to Leverage to achieve the company’s goaLs? AWe are associated with Emaar, an coni c brand delivering world class products and world class customer service, while MGF is a formidable, established and reputed name in the Indian market. We have some of the best professionals on board, with international and national expertise, working for us in the senior management, under the leadership of our Executive Vice Chairman and Managing Director, Shravan Gupta. With tremend ous individual expertise and a legacy to carry forward, we would like Emaar MGF

to set benchmarks for quality and delive ry, for its customers.  

 

Q: How do you Look at the current real estate scenario of slow sates, high unsold inventory and Low sentiment of property buyers and investors. Do you attribute it entirety to the globaL economic downturn or beLieve that reaL estate companies themseLves are largely to blame for this? A: The answer is a combination of both:
Builders have not done adequate assessm ent of market dynamics and expectat ions, nor have they done proper assessm ent of project risks. The critical concerns include inability of the builders to sync hronise project plan and execution. Also, project management in India is not implem ented in letter and spirit by all the stake holders- be it the employer, contractor or the Project Manager. That is why delays, litigations and cost over-runs etc occur.  

 

Q: What poLicy prescriptions you think are needed to put the real estate sector on the path of sustained growth?
A: I think the need of the hour is that the client should be at the core of the cons truction process.
Besides, we as builders need to und erstand the inefficiencies o traditional methods of procuring and managing maj or projects - in particular the fallacy of awarding contracts solely on the basis of the lowest price bid only.
We need to communicate better with contractors to reduce conflict and disputes. We also need to establish a single contact point for the construction industry to resolve problems common to a number of stake holders. We need to give more attention to the training of the staff from the view point of procurement and risk management.
More attention to design and early involvement of the whole construction team could also improve the operational efficiency of completed buildings resulti ng in greater savings over the whole life span of the building. And last but not the least, we will be disseminating good pract ice more widely.

Value for Money in Gurgaon’s property market: Emaar MGF

Buying a good property is the dream of every person, and getting the best one at the most appropriate price brings in the joy to a buyer. Gurgaon has great potential to provide a value-for-money asset to property buyers. The real estate  market here enjoys the proximity of a large pool of corporate houses which are located in the city. With a large pool of corporate houses which are located in the city. With a large number of blue chip corporate shifting to Gurgaon. The numbers are increasing and there is a healthy demand for premium housing. Also, it is benefiting from a shift in buying preferences in Delhi, where young home buyers are choosing to relocate closer to their place of work. And choosing projects that offer a good

“Amit Sethi says that more and more people are choosing to live in Gurgaon rather than investing in the city due to its well-planned and dedicated fabric of infrastructure and logistics”

What is Value for Money in Gurgaon’sproperty market?

Mix of lifestyle amenities at the doorstep.

The onset of well-planned and dedicated fabric of infrastructure and logistics has accrued in an increasing number of projects, which has led to higher circle rate and on opportunity for commercial, residential. IT park and retail developments, luxury housing. Etc.

What is Value for Money in Gurgaon’s property market?

Ashish jerath, head, Sales (North). Emaar MGF, says. “The key word for selection should be value and not price (price is what you pay, value is what you get). In our view, the customer should focus on the long-term potential for value creation of the asset. A project that will be a good home for its residents/new buyers will always create more value for its Investors in cost but is an average home. Today, with a growing economy and rising income and expectations. There is a trend of the buyer choosing high-quality projects”.

Experts believe more and more people are choosing to live in the city rather than just investing. And this is the biggest factor which makes gurgaon real estate market stand out. It will be imprudent for the industry to say that there are no effects of the economic slowdown, but with strong fundamentals and good policy framework, gurgaon market has been better prepared that the rest. Infrastructure projects like Dwarka expressway are near competition, and once operational, will add value to properties in the area.

“The price of residential properties in Gurgaon has grown substantially in the last 3 years. For example, the projects which were launched 3-4 years back at about Rs 2000 per sq.ft, is now sold at a price of Rs 6500 per sq ft. It is experted that in the next few years. The property will amplify to about 20 percent. According to reports, it is seen that rate of appreciation of property is higher in a developing area as compared to an already developing area as compared to an already developed area due the fact that developing areas have a lot of scope for development. Since Gurgaon has developed three-fold in the last few years and there is more scope of development. Investing in Gurgaon around this time is determined to get good returns. Moreover, as it is emerging as a worldclass city. It will be wise to invest in properties in the area and get value for money.” Opines Nikhil Jain. CEO, Ram PrasthaGroup.

Gurgaon property has reached a niche which seemed impossible a few years back. Now, for purchasing a house in Gurgaon. One has to loosen his pockets a bit more. Apart from commercial property. The residential sector too, is witnessing an equal rise in its values. The existing population of Gurgaon is considered to possess a large purchasing power which has further created a huge demand for housing. Thereby giving a boost to the property prices in gurgaon.

P Sahel, vice chairman, Lotus Greens, puts his view, saying. “To a large extent, prices are dependent on the location. A comparison between similar projects within the same micro market should give a buyer a fair idea about the prevailing prices, while comparing the projects, one should also look at the specifications and amenities being offered in the project for an apples-to-appies comparison.”

Preferential factor: style, location, brand or amenlties?

People looking to buy property in Gurgaon have a large bouquet of choices in hand ranging from style. Location brand and amenities. A well-established developer will provide all the factors like style. Location. Brand and amenities as a complete package, So, it is important to choose the right developer to get the desired kind of mix.

“Gurgaon today has three micro markets each with a large number of options i.e. Glof course Extension road. National highway and Dwarka expressway. Each location has a mix of developments that offer a good combination of location and amenities, After location, the next most important factor in choosing a property is the brand, as it assures the customer of standards, amenities and quality of construction that the brand stands for onc can see the effect of the brand by comparing the current prices of two different brands of a similar location. The difference that you see is the premium that buyers give to be part of be part of a renowned brand. One can find such examples on the Golf Course road and Golf Course Extension road. In our opinion. A mix of location and brand creates lasting value in the asset, “ adds Jerath.

Experts suggest that amenities provided in the projects can be listed as exquisite gardens, tier-II security system, 24*7 power back up. Rainwater harvesting and engery-efficient buildings. Etc. The integrated townships also enjoy the benefit of modern amenities like school, hotel, hospital, shopping mail, multiplex, golf club (golf swing training), post office and temple.

Harindra Nagar, MD, Paras Buildtech, Say, “When we talk about Gurgaon, the next thing after the IT” hub, which clicks to our mind is the location, the brand and the amenities of Gurgaon, Gurgaon has a number of brands and all the illustrious brands are congruent to the population there, Being and IT hub. The location is posh and competent for the mass people living there.”

“Is it a time to add more property in the portfollo?”

Buying decidion should be based on the requirement and market conditions for the particular buyer segment. This is agood time for customers purchasing the properties for end use. The prices have been stable for some time now and it is widely believed that these will see an upswing as soon as the general elections are through. Real estate investments should be made with a medium to long-term perspective.

“Until March, this is not the correct time for the investors to add more property in Gurgaon, because financial year is closing and elections are coming. Which may result in budget change. The right perspective for the builders should be speculation. Introspection and monitoring the market dynamics hased on the social, political and economic fallout of the budgets and the upcoming elections.” Added Nagar,

Experts see risk if an investor is over stretched in his investments with a trading perspective. The best way to benefit from real estate investments is to do the homework at a time of making purchases and then hold on to the investments for it to mature and to give the desired results. “While buying a property, either in Gurgaon or in any part of the country, one should take into consideration the facts so that risk can be avoided. These include checking of credentials like the ownership of land, clearance certificates from various authorities and approval of building plains,”concluded Jain”

Emaar MGF’s project GOMTI GREENS – another contribution in Lucknow’s REAL ESTATE DEVELOPMENT

Lucknow, the historical city with multicultural touch ups, courtly manners, beautiful gardens, poetry, music, and fine cuisine patronized by the Nawabs, hasreal estate property. 

made a drastic change in its development today with the rise of

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.

Lucknow, also called as ‘TheConstantinople 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 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, BurjKhalifa 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.

Gurgaon top guzzler of COMMERCIAL SPACE IN NCR Commercial property of Gurgaon always tops in demand charts, says A K TIWARY: (EVC and MD Shravan Gupta Emaar MGF)

Commercial properties in Gurgaon are being seen as smart investment options, as they give more capital appreciation compared to residential property.

Despite the disappointing economic picture, investor appetite for good quality real estate remains firm and this is likely to continue to underpin capital values in prime locations of Gurgaon like Golf Course Road, main Gurgaon Sohna Road, NH-8, etc.

These sectors are also reaping benefits from the recently-announced government measures to open up the country to more foreign direct investment.

Navin Raheja, CMD of Raheja Developers, says: “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 sentiment towards commercial real estate investment in Gurgaon remains favourable. The mood of investors is positive as there is a sense of stability due to the recent measures like the opening of foreign direct investments in retail. The retail sector is forecast to grow because of this announcement.”

Office space absorption Gurgaon recorded around 2.2 million sq ft of office space absorption in the third quarter of financial year 2012. This is much above the average quarterly absorption of the NCR market, which ranges between 1 million sq ft to 1.5 million sq ft.

Some of the prominent transactions that took place in the third quarter of financial year 2012 were by McKinsey, Ericsson, Income Tax Department, Samsung Electronics, Daffodil Software, Wipro, and KPMG. These constitute nearly 1.1 million sq ft of the total office space absorption.

Considering the level of pre-commitments and the fact that transaction activity is typically conservative in the final quarter of the financial year, demand is expected to improve in the latter half of the year.

The hottest locations like Golf Course Road, Golf Course Extension Road, Dwarka Gurgaon Expressway, and main Gurgaon-Sohna Road have registered great demand for state-of-the-art commercial properties.
Top developers like DLF, Unitech, Ansal Group, Vatika, Vipul, Hines, Paras, etc, have come up with world-class commercial projects in the Millennium City.

Ansal Housing is coming up with HUB 83 in Gurgaon, which will offer retail and office spaces, while Ansals Town Walk offers high street retail-cum-corporate spaces on Dwarka Expressway in Sector 104.

Orient Bestech Business Towers, on NH-8, Gurgaon, have been created keeping in mind the growing requirements of IT/ITeS firms. The project offers nearly 6.25 lakh sq ft of contemporary working spaces spread across two towers. Commercial Hub by Bestech offers floor plate ranging from 15,000 sq ft to 20,000 sq ft with retail space on ground floor for banks, ATMs, and restaurants.

Floreal Towers, with a floor plate of 20,000- 60,000 sq ft, is located in New Gurgaon and is over 7 acres with around 5 lakh sq ft of retail and office space. This stateof-the-art office-cum-retail complex by Orris is spread over two towers.

Innovative Legend Heights is a mega, Rs 250-crore commercial project; with a total area of 4.5 lakh sq ft, Legend Heights has two glass-glazed towers with ground plus 11 floors. It has a contemporary design and is centrally airconditioned with three-tier basement parking. It offers 64,000 sq ft area dedicated to shopping and retail mall. However, 11 floors embracing an area of 1.20 lakh sq ft are designed as commercial space and Innovative has already tied up with Hyatt Group of hotels for mixed-use land development.

ABW Business Bay, a commercial project by ABW Group along NH-8 in Sector 83, Gurgaon, offers retail, restaurants, shops, and office spaces.
Ocus Medley by Ocus Group is over 4.14 acres; it is a mixed-use commercial project with high street retail and a business tower for office spaces along Dwarka-Expressway in Sector 99, Gurgaon.

Ciel Square, an exclusively designed high-end commercial complex by Uppal Group is near NH-8 and Dwarka-Manesar Highway in Gurgaon. It will have expansive green spaces over 3.6 acres on a total area of 6.9 acres. Ciel Square will have retails outlets on its ground floor and premium business suites on the remaining floors.

Raheja Trinity by Raheja Developers offers the best of three worlds in Gurgaonoffice space, retail, and service apartments. Located in the heart of New Gurgaon in Sector 84, at the intersection of Dwarka Expressway with the sector road dividing Sectors 83 and 84-Trinity is in the midst of a bustling residential hub. A number of posh and high-end residential projects are also being developed in this area. The affluent neighborhood opens a great avenue for retailers. The location offers excellent connectivity to and from Delhi, the IGI airport, as well as other parts of Gurgaon.

Raheja Trinity is an amalgamation of retail (ground and first floor), service apartments, and offices for the market. The rooftop clubhouse along with swimming pool, gymnasium, party area, and terrace garden are the USPs of the project.

Ameya Group has recently launched Sapphire Eighty Three in Sector 83, Gurgaon. The project is at the crossroads of several upscale, fast-developing residential sectors. The ground and first floor are dedicated to retail area followed by entertainment zone on the second floor with multiplex, food zone, and restaurants. The remaining portion of the project has plush one- and two- room suites.

Satya Group and Maple Group are coming up with Element One, a commercial project in Sectors 47 and 49; the project offers 1BHK fully-furnished apartments, high-end retail shops on the ground floor and first floor with different design option for retail, entertainment, shopping, and business suites.

EMAAR MGF has launched Capital Towers at Downtown-part of a mixed-use development project in the heart of Gurgaon. Located at Mehrauli-Gurgaon Road, near Guru Dronacharya Metro station, Capital Tower 1 at Downtown is a bustling business project that offers business and retail space with recreational amenities.

Ashish Jerath, VP of EMAAR MGF, says: “In August 2013, we launched a commercial project, Capital Tower 1 over 3.5 acres; it is strategically located at the gateway of Gurgaon and inspired by the very best of international architectural design. We expect to deliver this project sometime in 2016. Construction has begun on the project-the excavation work is complete and foundation and basement work is in progress.”

Paras Buildtech has launched Paras Square, a mixed-use project with commercial space. The group has delivered two commercial projects, Paras Twin Towers and Paras Downtown Centre, in Gurgaon. Other commercial projects like Paras Trade Centre and Paras Trinity are in the construction stage, while Paras Square, the sole mixed-use project, will come up next to Golf Course Extension Road in Sector 63A.

Microtek Infrastructures has lined up four commercial projects in New Gurgaon area, in close proximity to Dwarka-Gurgaon Expressway.

Ajay Aggarwal, MD, Microtek Infrastructure, says: “Gurgaon has almost exhausted its space, so the current developments have shifted to the developing sectors of New Gurgaon. Development authorities like Huda and MCG have adopted innovative action plans for the infrastructural development of this part of Gurgaon.

That is why wider connectivity roads are being laid out and the much soughtafter Dwarka-Gurgaon Expressway is being developed on a par with international standards. With a number of residential projects either launched or completed, there will be a need for commercial space to support the modern lifestyle of the residents. We have lined up a few commercial projects to this end.”

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APART FROM IT, NON-IT SECTORS LIKE CONSULTING AND BFSI (BANKING, FINANCIAL SERVICES, AND INSURANCE) ARE ALSO EXPECTED TO INCREASINGLY ABSORB THE AVAILABLE SPACE
GURGAON RECORDED AROUND 2.2 MILLION SQ FT OF OFFICE SPACE ABSORPTION IN THE THIRD QUARTER OF FINANCIAL YEAR 2012. THIS IS MUCH ABOVE THE AVERAGE QUARTERLY ABSORPTION OF THE NCR MARKET, WHICH RANGES BETWEEN 1 MILLION SQ FT TO 1.5 MILLION SQ FT

AAP may challenge assembly's suspension

NEW DELHI: Unhappy with the Centre's decision to impose President's rule in Delhi, the Aam Aadmi Party (AAP) is exploring legal options to challenge it. Outgoing CM Kejriwal had recommended dissolution of the Delhi assembly and fresh elections. But the Union Cabinet considered the L-G's report and decided that suspended animation was the right option.

Speaking to TOI, Kejriwal said, "We have been told that the L-G sent both options (of holding fresh elections and keeping the assembly in suspended animation) as recommendations to the cabinet. I am very unhappy with the Cabinet's decision. We are thinking within the party whether it is possible to challenge this order and approach court."

Kejriwal found the decision intriguing as neither Congress nor BJP was interested in forming the government. "So, why suspended animation?" he asked. Another AAP leader said, "It appears that no government can be formed unless there is horse-trading. The government's intention appears to be malafide and based on extraneous considerations,'' he said.

As for AAP's strategy for the Lok Sabha polls, Kejriwal said his party candidates would "pursue" the targeted leader of Congress and BJP. He said if, say, Kapil Sibal contested from Chandigarh instead of Chandni Chowk, so would Ashutosh. "But Sibal's biggest defeat woulod be if he has to change his seat," he added.

Asked if he himself will take on Modi, Kejriwal shot back, "Do you know where he's fighting from?" When told why wouldn't he similarly "pursue" Modi and take him on wherever he fights from, Kejriwal asked, "What makes you so sure he's fighting this election?" When it was pointed out that Modi was, after all, BJP's PM candidate, Kejriwal said, "But you don't have to fight elections to be PM."

Emaar's 'iconic' India building still on drawing board

The India joint venture, Emaar MGF, says it is in talks with foreign designers and architects for the project

After lying low for several quarters, the joint venture real estate company of Dubai’s Emaar Properties and home-grown MGF is toying with the idea of what it calls an “iconic” building in India. Ever since its launch in the country in 2005, it remained focused on high-end residential and commercial properties (nine of the former for every one of the latter) until controversies and slowdown almost put brakes on development activities.

Burj Khalifa in Dubai is considered Emaar’s most iconic creation in the world. But it is not clear whether India’s “iconic” will match Dubai’s. The company’s plans for an “architecturally aesthetic” structure in India is still on the drawing board, with even the number of storeys in it undecided. In an interaction with Business Standard, K Ramamurthy, chief executive (projects), Emaar MGF, said the company was talking with foreign designers and architects for the project without revealing details.  

For more than two years, the company has had to battle controversies related to delayed allocation of flats in Delhi’s Commonwealth Games (CWG) Village, a joint project with Delhi Development Authority, an enforcement directorate case on alleged foreign exchange violations, failed public offers and a Central Bureau of Investigation chargesheet regarding irregularities in a Hyderabad project. It has recently restructured senior management to streamline execution targets, sources said.

While Ramamurthy joined six months ago from another real estate company, Adrian Hardwick Jones, chief of design, has also joined recently. The company has brought in many other senior professionals at the project head levels.

Emaar MGF hit its lowest in development in 2012 when it neither launched nor delivered a single project, following the CWG project of 2010. It recovered slightly in 2013 and launched two, while delivering the first phase of a township and plotted development projects in Jaipur (Rajasthan) and Indore (Madhya Pradesh), besides a group housing in Mohali (Chandigarh). Ramamurthy said: “2014-15 will be the year of delivery as about eight projects launched earlier will be delivered in this period.” The company has now tied up with third-party contractors such as Shapoorji Pallonji, IL&FS and JMC to meet project deadlines.

The company is likely to maintain its residential-commercial ratio.

It is developing 54 projects (including project phases) — 45 residential and nine commercial/retail, with an aggregate saleable area of 42.5 millon sq ft, spread across eight cities. It has a land bank of about 10,000 acres (including developed projects), of which 908 acres are in Delhi and 2,369 in Gurgaon.

The company has debt of Rs 4,000 crore, 60 per cent of which is long-term. “We have been reducing the debt over the years and working on reducing it further.”

The real estate sector has been slowing down for over a year, with dipping sales and high stocks. The projection for the sector is yet to pick up.

Delhi LG to send report to Centre today on scenario after AAP resignation

NEW DELHI: Delhi lt governor Najeeb Jung is expected to give his report to the Centre on Saturday on the follow-up action in the wake of resignation of the Aam Aadmi Party government.

Sources said he would give his report on the situation to the President through

the Union home ministry for final decision on whether to bring the national capital under a spell of central rule or dissolve the House for holding elections along with Lok Sabha polls as recommended by the outgoing cabinet.

The lt governor will send a "factual report" along with resignation of the government and the Cabinet's recommendation, the sources said.

Kejriwal on Friday resigned as Delhi chief minister shortly after his government was defeated on the issue of tabling of the Jan Lokpal Bill in Delhi assembly in the face of a united resistance by outside supporter Congress and opposition BJP.

Jung had advised the assembly against transacting the Jan Lokpal Bill which he said should have prior clearance of central government.

Kejriwal had on Friday recommended to the lt governor to dissolve the assembly and hold fresh elections.

Meanwhile, Aam Aadmi Party (AAP) leaders held a meeting to decide the future course of action on Saturday, a day after Arvind Kejriwal quit as Delhi chief minister.

The party leaders began arriving at Kejriwal's Tilak lane home in Delhi by 11am.

Wet Valentine's Day is 2nd coldest in Feb since 1971

NEW DELHI: Couples had another excuse to snuggle up to each other on Valentine's Day, which turned out to be wet and chilly. The maximum temperature plunged nine degrees below normal to 14.6 degrees Celsius, making it the second coldest day for February since 1971, according to IGI's Met department.

At Safdarjung, 23.6mm rain was recorded by 8pm on Friday, the number boosted by steady overnight showers. IMD director B P Yadav said the wet weather was caused by a confluence of wind systems from the northwest , Bay of Bengal and Arabian Sea. The hill states saw heavy snowfall at many places. Expect light rain and cloudy skies on Saturday.