Real Estate Newsletter - September 19 to 23, 2016

India Infoline News Service | Mumbai | September 23, 2016, 17:55 IST

This week saw 27 more cities on their way to become smart cities, Limo ink deal with Lodha’s Palava Smart City among other developments. IIFL presents a weekly snapshot of all the major happenings in the Real Estate industry.

Top News
 
27 more cities on their way to become smart cities
In an exclusive press conference organised by the Ministry of Urban Development, M Venkaiah Naidu, the Cabinet Minister for Urban Development announced the third set from the 98 listed regions which are to be developed as smart cities under the Smart Cities Mission. The competition at this platform is tough as all the regions are being picked on a strict numbering basis where they have to pass through a lot of parameters and being marked for the same. Basis these marks, the top ones are selected for list to be announced. Compared to the previous of counts of 20 in the first list and 13 in the second list, the count was very high this time, making it to 27 inclusions in the current list. The current list notably features 5 regions from Maharashtra, 4 from Tamil Nadu and Karnataka, 3 from Uttar Pradesh, 2 each from Punjab, Rajasthan and Madhya Pradesh along with 1 each from Andhra Pradesh, Odisha, Gujarat, Sikkim and Nagaland. With the list now totalling to 60 regions, the proposed investment has risen to INR 1,44,742 Crore. Read More
 
Will Jharkhand fuel PM Modi’s Make in India with improving ease of doing business?
Securing investments worth a whopping Rs 62,000 crore committed by large corporates such as Adani and Vedanta evincing interests in power, fertilizer, steel and chemicals, the Jharkhand government had set the wheels of success in motion for the state, at the outset of this year. With Jharkhand escalating to the 3rd position from 29th in ease of doing business in the past 13 months since the BJP Government took charge, as per Chief Minister, Raghubar Das, it would be safe to consider the state as a gateway for Make in India. While Jharkhand’s success is being currently talked about, the same has attracted flip comments as well. Despite claims made by the Union Rural Development Ministry of Jharkhand for exemplary performance in implementing the Mahatma Gandhi National Rural Employment Guarantee Scheme (NREGS), state government’s employment data has been exaggerated and the scheme suffers from large-scale delays in wage payments, as per few state-level NGOs. Read More
 
What drives The Growth Of Theme-Based Housing?
Growing competition and rising aspiration has led to more sophisticated real estate development in India. With increased globalization, Indian consumers are rapidly being exposed to global standards and desire to live a luxurious life. This is acting as a cue for developers to develop classier projects. Enviable location, spacious living spaces and pleasing architectural design are the basic expectation of modern home buyers in the prime residential category. With architecture becoming an important criterion of choosing a property, urbane residences have emerged as a successful strategy in the Indian real estate domain. To differentiate their residential products, add a unique dimension and meet the growing aspirational demand of buyers, developers are now coming up with theme-based housing projects in various cities of India. Read More
 
Investing in property near Expressways or Highways
Many developers are at great pains to point out that their projects are close to a major highway or expressway while marketing them. Obviously, there is a lot of notional value attached to homes which enjoy such a locational advantage. However, there can be both advantages and disadvantages to buying a home which adjoins or is close to a major highway. Both should be considered before investing in a property. In cities like Pune and Mumbai, inter-city connectivity is literally a lifeline that feeds the economy. Both cities depend a lot on each other on various counts, not least of all being services, business exchange and manpower. As a result, being able to travel quickly either way is important for countless numbers of people living in either city. However, because of increasing inner-city traffic congestion, it can take an inordinately long time just to travel to the expressway itself. This puts a heavy toll on both precious time and fuel expenses, so living close to the expressway - or any highway which affords quick access to key parts of the city or adjoining cities - can be a very desirable benefit for a home buyer. Read More
 
Spotlight on India's Smart City Goals: The Big 5 Construct India 2016
How will smart buildings and smart cities change the way we live and work? How can construction professionals improve buildings’ efficiency and performance through integrated technologies? These and other questions will be answered at The Big 5 Construct India 2016 during the free-to-attend “Smart buildings to smart cities” and “Design insights to deliver smart cities in the developing world” CPD certified workshops, respectively on September 28 and 30. Industry experts will unveil India’s urban development vision and the unprecedented business opportunities it offers at The Big 5 Construct India 2016, where exhibitors from India, Germany, Italy, Malaysia, Russia, Turkey, the UAE and the UK among others will display the latest and most innovative construction products. Organised by dmg events Middle East, Asia & Africa, the leading B2B tradeshow for the Indian building and construction community will take place from 28 to 30 September 2016 at the Bombay Exhibition Centre; entrance to the exhibition will be free. Read More
 
News Infocus
 
Property eAuctions: The Next Level Of Property Marketing
The word auction evokes images of hyper-expensive fine art being sold for staggering sums to the highest bidders, with the media in frenzied attendance to chronicle the process every step of the way. Real estate auctions, on the other hand, have in the past been associated with distressed properties being put on the block sales by banks and other financial institutions to recover their dues from defaulting borrowers. As such, real estate auctions have been viewed in a rather negative light - though they can and often do involve enormous sums of money. Read More
 
The Timeless Legacy of Bungalows
Pune’s residential real estate market has come a long way – especially in formats. From huts to ‘wadas’, and from there on from individual, owner-built units to modern apartments, the landscape has been changing constantly. Today, tall, modern apartment buildings reach for the skies all over Pune, jostling for space with commercial developments and older, smaller buildings. However, none of the residential formats available now and in the past have had such enduring appeal as bungalows. There are good reasons for this. To begin with, Pune is a city with a unique blend of individualism and solidarity. This is evidenced by the properties being maintained by the city’s more prominent families – private and beautiful, they provide a safe haven for the inhabiting families within while sending out a clear message of their social status. Read More
 
Domestic Newsmakers
 
Godrej Properties adds a new Residential Project in Bangalore
Godrej Properties Limited (GPL), one of India’s leading real estate developers, announced that it has acquired a land parcel measuring approximately 12 acres off Sarjapur Road in South Bangalore. Godrej Properties plans to develop a residential housing project of approximately 92,900 sq. mtrs. (approximately 1 million sq. ft.). The project is located in an attractive residential area with close proximity to the commercial and industrial catchment areas of Electronic City Phase I & II, Sarjapur Road, and Hosur Road. It also offers good connectivity to Outer Ring Road, Varthur and Whitefield. Read More
 
Outer Ring Road affecting Bangalore real estate: Colliers
With the state government’s decision to fast track Metro Phase II’s 18 kms stretch that connects K.R. Puram with Central Silk Board, different real estate asset classes in the vicinity are set to benefit positively over the long haul. This would have a clear impact on Bengaluru’s real estate market essentially in the following ways:
 
Higher Development Potential as ORR is a Mutation Corridor as per the Revised Master Plan of 2015 and any real estate development within 100 meters of a metro station gets a higher FAR of 4.0 apart from the general norms. Having said that, there is an existing ceiling on the height of development on ORR at present, which needs to be increased to avail the benefit of increased FAR. Read More

Godrej Properties adds a new Residential Project in Bangalore 
Godrej Properties Limited (GPL), one of India’s leading real estate developers, announced that it has acquired a land parcel measuring approximately 12 acres off Sarjapur Road in South Bangalore. Godrej Properties plans to develop a residential housing project of approximately 92,900 sq. mtrs. (approximately 1 million sq. ft.). Read More
 
Indoco Remedies acquires Manufacturing plant at Baddi 
Indoco Remedies has acquired the manufacturing facility located at Baddi of Micro Labs Ltd., (a Bangalore based company). Read More
 
The Byke Hospitality acquires two properties on long term lease 
The Byke Hospitality has acquired two new properties on long term lease.  The company has acquired ‘The Byke- Grassfield Riviera’ in Jaipur on Long Term Lease. Read More
 
Change in arbitration norms a welcome change in an industry struggling with liquidity issues: Colliers India Research
 
Limo inks deal with Lodha’s Palava Smart City
Raftaar Technologies Pvt Ltd has entered into an agreement with Lodha Group offering its Limo smart bus services for the residents of Palava city – one of India’s fastest growing and privately-planned smart cities developed by Lodha Group. This agreement will officially have Limo as an integrated part of the smart city offerings at Palava. This will enable not just seamless connectivity within Palava but will also connect it to Airoli, Mahape, Thane, Vashi, Powai and all parts of Mumbai.
 
Founded in 2015, Raftaar Technologies are the creators of the Limo smart bus network which works with everyone from individual commuters to communities to corporates and provides bespoke AC bus transit solutions. “We’re very pleased to work with a township the size of Lodha’s Palava Smart City” said Siddharth Sharma, CEO - Raftaar Technologies. Read More
 
NBCC bags orders worth Rs.440 crore for construction of hospitals
NBCC (India) Ltd has informed BSE that the company has secured work amounting Rs.440 crore (approx) from ESIC, Ministry of Labour & Employment, Government of India for construction of 100 bedded hospital(s) at Haridwar & Dehradun (Uttarakhand) and 300 bedded hospital at Indore, Madhya Pradesh.
 
Paradigm Realty unveils a new-age iconic residential development project Nivan
Paradigm Realty, a leading real estate company of Mumbai Suburbs, catering to the luxurious & elite segment has recently unveiled a new-age iconic residential development project Nivan. Located in one of the most prominent and favourable location of Mumbai i.e. Khar (west), this midtown project is a premium tower that comprises specifications like ample parking in basement, G+2 which occupies a shopping center on the ground floor while the first two floors feature commercial spaces for boutiques and offices, while the remaining 13 stories cater to the luxe residential segment. Read More
 
Ekta World announces the pre-launch of Lake Riviera, on the occasion of Ganesh Chaturthi
Ekta World Pvt . Ltd., a real estate firm has recently announced the pre-launch of its upcoming ultra-luxurious property, Lake Riviera – The Spa Residencies in Powai Mumbai. The project is jointly being developed with Pashmina Developers. The pre-launch took place on the auspicious occasion of Ganesh Chaturthi, during the grand gala night at lake homes. Held at Lake Homes, one of the deluxe properties jointly developed by Ekta Supreme Housing, the pre-launch event of Lake Riviera was exclusively planned for the esteemed residents of Lake Homes.
 
The enthralling event witnessed great participation from the residents of Lake Homes with over 1,500 people attending it. For the first time ever in Powai, the guests were treated to a mesmerizing laser show,that was followed by spectacular fireworks coming from the location of Lake Riviera. The gala night ended on a high note with all the residents being thoroughly entertained by a musical evening filled with melodious songs sung by Bollywood singers Dipali and Samir Date. Read More
 

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