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GREEN
BUSINESS SUMMIT 2010 : DESIGN HIGH PERFORMANCE BUILDING Thesynergyonline Real Estate Bureau NEW
DELHI, JULY 20 : Mr.
Vikas Gupta, MD, Earth Infrastructures, among the prominent speakers, shared his
views on Green Concept. He said," , “Green building (also known as green
construction or sustainable building) is the practice of creating structures and
using processes that are environmentally responsible and resource-efficient throughout
a building's lifecycle: from sitting to design, construction, operation, maintenance,
renovation, and deconstruction. Green house is basically a housing design which
is environment- friendly and is been constructed for the development and betterment
of society concerning utility and comfort. It blends architecturally with neighbouring
homes, includes vibrant outdoor space, and utilizes aesthetically appealing interior
features.” He
also explained about LEED certification, he started with the explanation, he said,
“Earth infrastructures has been provided with the LEED certification, LEED
is basically a third-party certification program and the nationally accepted
benchmark for the design, construction and operation of high-performance green
buildings. LEED gives building owners and operators the tools they need to have
an immediate and measurable impact on their buildings’ performance”. While proceeding further to speak on Energy efficiency he said, “Saving Energy is the first step to green, but most people would agree that a green building must be an energy efficient building. But not everyone agrees on how to define and measure efficiency. With an annual increase in the built-up area of residential and commercial buildings by 10 per cent, the projected annual increase in the energy demand is 5.4 billion kWh. The need of the hour is to design and construct ‘high performance buildings’ so that the use of electricity can be controlled." "The
main points which need to be kept on priority while building, is to use simple,
standardized energy performance metrics throughout all phases of building design
and operation. New buildings must be designed to meet local energy codes, but
should also be expected to meet aggressive energy. These design targets should
be verified when the building is built and operated. This feedback loop is important
and often missing in building lifecycle, " he added.(editor@thesynergyonline.com)
Thesynergyonline Real Estate Bureau NEW
DELHI, India, JULY 16 : A
delegation from CREDAI discussed in details the provisions as presented in the
proposed Regulation Bill and explained their concerns on the same along with suggesting
alternative measures. The
proposed Regulation Bill to control malpractices is very appreciable in spirit
but as we see it will have an extremely detrimental impact on the end consumer
by virtue of making housing unaffordable. We would also like to highlight the
impact of some major detrimental provisions proposed in the Bill which can lead
to operational delays attributable to multiplication of procedures, increasing
bureaucratic hurdles and non-compliance of the local authorities which will have
a direct impact on the pricing coming in the way of the dream of a home for every
Indian. CREDAI has analysed the provisions of the proposed Act in detail and studied its implications on the residential segment especially those which have a significant potential to escalate project cost drastically. CREDAI has estimated that the construction cost could shoot by upto Rs. 296 per sq. ft. The most immediate and vicious impact will be felt by affordable segment as costs could jump up significantly Mr. Kumar Gera, Chairman, CREDAI recommends that "An ideal Regulation Bill should aim to cover and discipline all stakeholders of the real estate sector which comprises not only of developers but local authorities like the municipal corporations and civic bodies including the fire services, electricity boards, financial institutions as well as end consumers, which include the errant buyers. CREDAI suggests that there should be collaboration and proper accountability of all concerned so that the complete set of transactions from construction to sale is conducted in a manner which is efficient and transparent. In the absence of the appropriate accountability the entire cycle suffers a setback and from the consumer's perspective the delays in handovers and steep price rise are would be the two major fallouts which incidentally are also the most common consumer grievances." Mr.
Sushil Mohta, Member, Governing Council Board comments "Our study is a result
of cumulative effort put in by our members which aims to provide a valuable insight
on the how these provisions will have a real impact - from the books of accounts
to the per unit sale price. We hope to sensitise policy makers on how certain
provisions in the Model Act which will create severe cost escalation through a
direct and strong impact on three major areas - interest accrual, advances and
out -of-pocket expenses.
(editor@thesynergyonline.com)
Thesynergyonline Real Estate Bureau NEW
DELHI, JULY 10 : “Contrary
to expectations, the draft bill does not allow Real Estate Regulator to act as
an impartial arbitrator between industry/developer and various government agencies
on one hand and the industry/ developer and consumers on the other”. For
example, “while the Regulator will lay down and monitor strict timelines
for execution of a project (with severe penal implications for the promoter/ developer),
it will do nothing to address the inevitable delay and harassment that accompanies
various approvals and make there timelines impossible to adhere to”, points
out the ASSOCHAM. In a representation addressed to the government, the ASSOCHAM has emphasized that the draft Bill is also discriminatory in as much as it keeps the government agencies/ local authorities/ statutory bodies engaged in the business of development of land or housing out of the ambit of the Regulator. Similarly, while the Bill treats the promoter/ developer in an iniquitous manner, it is biased in favor of the ‘allotee’. In
addition the Bill is self contradictory as the Regulator is being given the role
of licensing authority as well which is against basic principles of liberalized
economy. ASSOCHAM
Secretary General, Mr. D.S. Rawat said, “Section 4 of the Bill has a provision
which makes it mandatory for developer to take registration certificate from component
authority for release of advertisements to seek buyers for their Real Estate projects.
And if advertisement released is without registration certificate, developers
are liable to punishment for a term of upto one year or fine Rs. 5,000/- or both.”
According
to ASSOCHAM, this is a sweeping provision and is clearly restrictive. The
Regulator may have the right to check the veracity of the claims made in an advertisement
but giving it a veto power in this regard is a clear violation of the right to
conduct business and punishment are too harsh. Likewise, the bill’s Section 5 under head of development of land into colony says that license for development of colony should be given by competent authority and will be valid for three years and renewable from year to year on payment of prescribed fee. This too is a sweeping power and a recipe for corruption, according to ASSOCHAM. “It reintroduces the license raj which is an anathema in this post–reform age. The terms too are stringent. The
license is valid only for three years while the various approvals for a project
from a slew of government agencies alone take up to 18-24 months. Moreover,
land is a state subject and each state authority may have different set of criteria
for granting such licenses.” Therefore the aforesaid Sections need
to be diluted as per requirements of industry and consumers. Mr.
Rawat said, “There are many other provisions in the Bill which require promoters
of Real Estate to construct schools, hospitals, community centers and other community
building and lay park in the colony or transfer such land free of cost/ at cost
of development. This is again a harsh provision and shows callous disregard
for freedom to conduct business and needs modification. Likewise there are many other provisions which need review and therefore the ASSOCHAM urges the government to launch a debate on provisions of existing Regulator Bill so that its harsher sections, sub sections are diluted with a consensus approach to ensure fair play for government, Real Estate developers and buyers of properties and dwelling units, said the ASSOCHAM Chief. (editor@thesynergyonline.com) SVP
GROUP, ASHIANA HOMES UNVEIL 'VILLA ANANDAM' AT MEERUT ROAD NH-58 Thesynergyonline
Real Estate Bureau NEW
DELHI, JULY 07 : The
198 villas will be spread over an area of 12 acres and is expected to be ready
for possession by mid 2012. The total cost of this project will be Rs. 150 crores.
Thesynergyonline Real Estate Bureau NEW
DELHI, JULY 07 : The
project will be constructed in two phases and the completion is expected in 30
months from the date of construction .The company's Capetown project will comprise
2,3 and 4 BHK apartments are ranging from 890 sq ft to 2385 sq ft The highlights of the project are water bodies , wave garden , amphitheatre, slope garden, yoga and meditation centre , kids play area cafe shops, club sports centre with basketball badminton, lawn tennis and quash court school and medical facility . The costs of the residential unit range from Rs 23.5 lakh for two bedroom to Rs 72 lakh for four bedrooms. The company proposes to invest Rs 10,000 crore over three years out of which Rs 3000 crore investment will be from internal accruals .Also in the pipline is company's plan to raise come out with initial offering to fund the project. The company will dilute 25 per cent stake in the IPO. (editor@thesynergyonline.com) MANTRI DEVELOPERS APPOINTS NEW CHIEF MARKETING OFFICER Thesynergyonline Real Estate Bureau Thesynergyonline Real Estate Bureau NEW
DELHI, JUNE 29 : The esteemed panel of judges selected M3M's Golf Estate as the category winner because of the project's architectural excellence and its unique features. The project as the company claims is stated to a luxury real estate offering for the Indian audience. The company holds that Golf Estate is expected to create benchmarks in excellence and execution in real estate infrastructure. Mr. Pankaj Bansal, Director of M3M Group accepted the award on behalf of M3M Group. The award ceremony was held at the Sheraton Creek Hotel in Dubai. Golf Estate is poised to be landmark luxury projects to be developed by M3M Group. The architecture will be a perfect synthesis of green eco friendly landscapes and cutting edge design. The project also claims amenities and features of global standard including a 110 percent green cover, phenomenal outdoor and living spaces, state of the art kitchens replete with fittings and fixtures, roof top jogging tracks, world class club houses and a nine hole reverse golf course. Golf Estate will be one of the largest condominium projects, spread over a sprawling 75 acres space across Delhi NCR. The project has been designed by the world renowned Arcop Group from Montreal, Canada. Arcop has to its credit real estate and hospitality projects like the Garden Estate and Laburnum in Gurgaon and have also designed the Mughal Sheraton in Agra. The nine hole executive golf course has been designed by Graham Cooke and Associates from Montreal, Canada. The company is one of the leading Golf Course design company in the world and has created over a 100 golf courses across the globe. The interiors of the Golf Estate buildings are been designed by Cecconi Simone Inc. a company with over 25 years of expertise in providing creative solutions in real estate projects. Speaking at the award ceremony, Mr. Pankaj Bansal, said, "M3M is elated at being felicitated at the prestigious NRI Summit 2010. We are delighted that our Golf Estate project has been chosen as the 'Best Upcoming Project of India'. With buildings as high as 65 storey, in the Golf Estate, it is M3M's constant endeavour to create benchmarks in luxury real estate properties. We want to create projects that are a perfect amalgamation of unique designs, structural and architectural excellence and the ultimate luxury living solutions. We are committed to offer a global lifestyle experience to all our discerning patrons. " The company plans to develop luxury real estate projects which reflect impeccable designs and state of the art engineering to create architectural landmarks in the city-scape. (editor@thesynergyonline.com) GIREM SETS ‘20 POINT AGENDA 2020’ FOR GURGAON’s FUTURE
Thesynergyonline
Real Estate Bureau
NEW
DELHI, JUNE 14 : The “20 point Agenda 2020” for the betterment of the city of Gurgaon was presented to Mr. R.K.Kataria, Deputy Commissioner and District Magistrate of Gurgaon by Mr. Shyam Sundar S.Pani, President - GIREM & Executive Director, Triple Tree and Mr. Ramesh Menon of Certes Realty. The summit which deliberated on several issues listed out support for upcoming business districts; future proofing (metro connectivity, flyovers, underpasses etc); sustainable energy generation and the like, while maintaining the “character” of Gurgaon. Giving direction to the Summit was Mr. Deepender Singh Hooda, MP from Haryana, who underlined the strengths of Gurgaon in terms of natural resources, human resources and the entrepreneurial zeal of those in the region, which were all in abundance. “The 20 point agenda has been in response to the needs of the growing entrepreneurial community in the National Captial Region. The recommendations could be adopted through new initiatives and cooperation based on the public-private partnership (ppp) and corporate social responsibility (CSR) models.
Each of the recommendations will be further developed through a dedicated chair,
appointed by the Council of GIREM Gurgaon consisting of partners and work closely
with government representatives to see their fruition,” said Mr. Shyam Sundar
S.Pani. The Summit got different perspectives for infrastructure development from R.K.Kataria; Mr. S.S.Deswal, Police Commissioner, Gurgaon; Mr. Ramesh Sanka, Managing Director, Rental Business, DLF; Mr. Vivek Dahiya, founder and CEO, GenReal Property Advisers; Mr. P.K.Jain, Founder President, Gurgaon Chamber of Commerce and Industry; Mr. Subinder Khurana, CyberCity Society; Mr. Arun Anand of DLF, among others.
+Single nodal agency: Creation of a separate agency for approvals and clearance of business districts, business parks, SEZ’s to fast-track creation of infrastructural facilities. This should prevent cost over runs of basic commercial infrastructure and reduce investment and operational costs.
+Future proofing: Plan for roads and related infrastructure for next 10 years immediately. Hence planning for flyovers, underpasses and metro expansion to be put in motion during the current financial year. High traffic areas to be identified and studies for improvement to be commissioned.
+Support upcoming business districts: Upcoming business districts such as Manesar to get support. Accordingly, plans shall necessarily incorporate logistics and communication facilities. Define and mark the social infrastructure and connectivity that would be provided to the upcoming locations.
+Zoning Enforcement: To ensure that the zoning norms are adhered to and prevent frequent distortions of the designated residential and commercial areas. The concept of zones is invaluable, however enforcement support is needed. Enforcement to focus on improving infrastructure facilities like parking etc.
+Enhanced security: To ensure security of the property at the Business complex and also the people working in the business district. +Visitor car parks and decongesting traffic movement: The objective is to ensure that there is no traffic congestion in high density areas due to lack of parking slots in the commercial and residential buildings.
+Maintain the character of the city: With representation from wide spectrum of stake holders to protect, preserve and perpetuate the pristine character of the city and heritage assets. This is to imbibe the global practice of business communities expressing support to their cities rich traditional, architectural and cultural history.
+Set up culture centers: These centers will help in promoting and propagating the rich heritage of the city, while also acting as a vehicle to attract and create brand value for the city. +Green Drive: Gurgaon Inc should be closely associated to bring back the green cover of the city by working closely with the city authorities.
+BIZ Commute: For Gurgaon to come up as business destination, intra city mobility and logistics is crucial. This could include metros, government initiated bus services in addition to the basic auto rickshaws, city taxi services, etc.
+Mandatory Sustainable Programs for Business parks, SEZ’s: All business parks should become sustainable with energy generation, small water recycle plant, and rain water harvesting. There should be close coordination from the planning stage between the corporate sector and developers to infuse the green concept from the building character itself, choosing the energy efficient construction materials (low carbon emitting ones, less energy consuming etc).
+Tax benefits for green initiatives: Green initiatives to be given rebate in the annual commercial tax. Energy consumption and green initiatives to be tracked by authorities at different levels (township, large project, building and even a residential unit).
+Water recycling plants: To coordinate with the Office of the Gurgaon’s Commissioner to build water recycling plants under CSR in each and every locality.
+Solar -Wind energy farms under PPP for clean energy generation: Provide land to set up clean energy generation plants. These plants can be set up at new localities (future layouts and residential apartments) and business districts. In case of apartments wind/solar energy can be set up on roof tops.
+Creating Sports Infrastructure: There is an urgent need to provide modern sporting facilities and opportunities to the athletes and young sportspersons of India. It is worrying that a country that has one-sixth of the world’s population is lagging behind in sporting greatness due to inadequate facilities to nurture talent.
+Private sector involvement in developing physical infrastructure: Gurgaon has and would continue to see large townships coming up on either side of the highway, Northern Periphery Road (NPR)/ Southern Periphery Road (SPR) and large sector roads. Private developers to be allowed and if possible given incentives to undertake projects like skywalks, pedestrian underpasses etc for safe passage of pedestrians.
+Open new access roads to Delhi: While NPR would provide a faster access to parts of ‘Old Gurgaon’ to Delhi, many parts of ‘New Gurgaon’ would still need faster connectivity. This could include improving access from Udyog Vihar to the NH8 by providing a new connect towards the toll near the border connecting SPR to the Mehrauli-Gurgaon Road (MG Road) and connecting MG Road to the 150 meter road proposed in the MDP 2021.
+Improving efficiency at Khrki Daula Toll: Adding new toll plazas, enforcing automatic free traffic if the lane increases over 100 meters or related solution which would reduce the travel time to enter and exit the Gurgaon-Delhi expressway on NH8.
+Property tax on commercial occupiers: Clarity regarding time and amount of the same has been a concern for most occupiers since the formation of Municipal Council of Gurgaon. If there is an agenda and time schedule regarding the same, it would allow the firms to plan their occupancies accordingly and ensure smooth transition towards a new property tax system. The Summit was organized by Triple Tree Exhibitions & Sports and supported by GenReal Property Advisers, Certes Realty, Cyber City Association, Facility Management Zone, Gurgaon Chamber of Commerce & Industry, Property World and India Property. (editor@thesynergyonline.com) TATA
HOUSING FORAYS INTO LUXURY HOUSING IN KOLKATA Thesynergyonline Real Estate Bureau
Eden
Court - Primo designed by international architects offers a 'triple height sky
garden' on the 17th floor in both the towers thereby allowing residents to enjoy
excellent views and gives space for social gathering at the sky garden. Designed
on the concept of open orientation, Eden Court - Primo will offer maximum views
and ventilation with apartments facing towards South & South - East direction.
It is also having a swimming pool, state of the art clubhouse, open community
space, a children's playground, table tennis room, jogging track, landscaped gardens,
double height entrance plaza and much more by taking luxury to the next level. On
the launch of 'Eden Court - Primo', Mr. Brotin Banerjee, Managing Director and
Chief Executive Officer of TATA Housing, said, "At Tata Housing, it's our
constant endeavor to offer benchmark projects based on the needs and requirements
of our consumers. We have received an overwhelming response to the Eden Court
project from our consumers and we are glad to foray into the luxury housing segment
with Eden Court Primo. We are confident that this will become a new landmark and
benchmark at Rajarhat". Nestled amidst lush landscapes, Eden Court - Primo is strategically located at New Town, Rajarhat situated in the Action Area II - one of the fastest growing planned towns that promise's to be India's next major IT hub. This integrated development is in close proximity to the Central Business District, International Airport, Well known School, Hospital and Salt Lake area giving easy connectivity with major business destination. Like all other properties of TATA Housing, 'Eden Court - Primo' will be constructed under the guidance of Indian Green Building Council (IGBC) and has been designed to reduce the impact on the environment. The project will follow the Integrated Township approach and will have sufficiently large centralized and accessible open space, Club House; self sufficient segments with community spaces for socio-religious gatherings, Neighborhood Retail spaces etc.
Sr.
No. Unit Unit Size (Sq. ft.) The
company offers luxury residential apartments at 'Eden Court - Primo' starting
from Rs. 70 lakh onwards. The consumers can book the apartment with an initial
payment of Rs 5 lakh as booking amount. (editor@thesynergyonline.com)
AJNARA
INDIA TO INVEST RS 400 CRORE IN 'AJNARA HOMES ' Thesynergyonline
Real Estate Bureau NEW
DELHI, MAY 21 : This
project combines modern apartments with beautiful landscaping and ample open spaces.The
company will invest Rs 400 crore in this project . The project is scheduled to be completed within a period of 30 months from the date of commencement of construction work. There will be more than 2000 residential units, which is designed to suit every budget, with 2, 3 and 4 BKH variants starting from 850 sq. ft to 1960 sq. ft. Spread over an area of 60,000 sq. mt. with 2000 residential units prices start from Rs 16.10 lakh onwards. Mr.
Ashok Gupta, Director, Ajnara India , said on this occasion , "This project
is tailored to meet the needs of middle class with suitable amenities and is perfectly
customized for them. " NCR'S
ORGANISED RETAIL STOCK TO TOUCH 33.94 MILLION SQUARE FEET BY 2012
Thesynergyonlone
Real Estate Bureau NEW
DELHI, MAY 12 : However,
the key highlight of the report is the observation and analysis that provides
a view on the demand-supply situation and prevailing rentals in each of the 7
major metros in the country. Knight Frank Research findings indicate that the
country’s retail stock to reach 95 mn sq ft which will be more than the current
retail stock of 41 million sq ft. On
the launch of the report, Mr. Rituraj Verma, National Director – Retail Agency,
Knight Frank India said, “This is the first report that ties together consumption
with availability of retail space. Interpreting this report the right way would
enable both developers and retailers to move towards profitable growth. The report reveals an in-depth analysis of the dynamics of Organized Retail Market and the Real Estate Retail Potential (RERP) to identify the oversupply or undersupply situation in the retail space. Knight
Frank further estimates that by 2012, higher pace of real estate developments
in comparison to the pace of organized retail market growth will create an oversupply
situation of 21 million sq ft in 7 cities namely Mumbai, Pune, Hyderabad, Delhi,
Kolkata, Bengaluru and Chennai. Its examination of the state of affairs of the
retail market implies that the frenetic rental hikes witnessed during the boom
will not haunt retailers until 2012. “Our research has undertaken an extensive survey of all major operational and upcoming malls and 2 prominent highstreets in each of these 7 cities. The report determines the performance of the operational malls in terms of occupancy, rentals; retail formats and also foresees the demand-supply dynamics till 2012. During
our study of the Delhi NCR market, we have noticed an interesting trend unfolding
where a part from the traditional approach of building a mall-cum-multiplex mixed
use model, developers are now contemplating projects which have dedicated commercial
office space within the same premise.” says Dr. Samantak Das, National Head
– Research, Knight Frank India. The report studies focuses to top 7 cities namely Mumbai, NCR, Bangalore, Kolkatta, Chennai, Hyderabad and Pune and an in-depth case study of two major cities – Mumbai and Bangalore. Knight Frank research formulated an economic model to forecast the demand and supply dynamics for the period of 3 years (2010-2012). The dynamics of Organized Retail Market (ORM) and Real Estate Potential (RERP) provide insights into the oversupply and undersupply situation in the retail real estate space. This will help to identify the oversupply and undersupply situation in every zone for a period. The demand-supply forecast model indicate that the Organized Retail Market (ORM) to grow from 72 billion in 2009 to Rs 143 billion in 2012. whereas, the Real Estate Retail Potential (RERP) will increase from Rs 70 billion in 2009 to Rs 150 billion by 2012 since there will be supply influx of 5.39 mn. Sq ft. This would create an oversupply situation of 23 percent of the organized retail stock in 2010. However, in 2012, the oversupply will be only 5% of the organized retail stock, which corresponds to 0.60 mn.sq.ft. This oversupply can be considered low, showing that it decreases from 2010 to 2012. (editor@thesynergyonline.com) CHAVAN
FOR 'SINGLE WINDOW CLEARANCE FOR 'HOMES FOR ALL' SCHEME
Thesynergyonline Real Estate Bureau MUMBAI,
APRIL 30 : Mr
Chavan was speaking at the valedictory session of the day-long convention 'Homes
for All' convened by MCHI here recently and said that the high- level committee
under the chief secretary would be set up in a week's time. In
one of the largest Public Private Partnership initiatives aimed at making available
five lakh affordable homes in Mumbai and Mumbai Metropolitan Region, (MMR) Maharashtra
Chamber of Housing Industry (MCHI), the umbrella body of developers, signed a
Joint Declaration with the Government of Maharashtra in the presence of Chief
Minister, Mr Ashok Chavan at the 'Homes For All' Convention held here. The
Chief Secretary, Government of Maharashtra MrJ P Dange on the occasion signed
the joint declaration with MCHI President Shri Pravin Doshi which would facilitate
the construction of 5 lakh affordable houses in Mumbai and Mumbai Metropolitan
Region over the next 5 years Earlier
in the day, Maharashtra Deputy Chief Minister Chhagan Bhujbal inaugurated the
day-long convention, aptly titled 'Homes For All'. A major step by MCHI to provide
affordable homes to middle and lower income groups living in Mumbai and Mumbai
Metropolitan Region (MMR). Minister of State for Housing Mr. Sachinbhau Ahir was
also present on the occasion. Guests
and speakers on the occasion such as MMRDA Commissioner Mr Ratnakar Gaikwad stressed
the need for Rental Housing, while MHADA CEO Shri Gautam Chatterjee articulated
the necessity of Public Private Partnership and its benefits towards housing development
in Mumbai and MMR. CEO Slum Rehabilitation Authority (SRA) Mr S S Zende spoke
on Slum Rehabilitation while Brihanmumbai Municipal Commissioner (BMC) Mr S. S.
Kshatriya spoke on the much needed speedy approvals. MCHI will be partnering with the State Government to examine and identify measures to strengthen the housing industry's role in the socio-economic development of the State. Additionally,
the premier housing body will also seek to formulate measures that will aid in
the development of affordable homes and ensure their availability across the Mumbai
and MMR Region. "With
the participation of over 500 developer members of MCHI and wholehearted support
from all the housing agencies and authorities, I am confident that we would be
able to facilitate the creation of five lac homes in next five years", he
added. According
to Cushman and Wakefield report, the demand for affordable housing is expected
to increase by approximately 400,000 units every year in the country. MCHI is
aiming to lend its support to the State Government to address the housing shortage
through the establishment of a planning committee that will offer solutions and
help to formulate a concrete policy that will ensure the establishment of affordable
housing communities. Mumbai
has an immediate demand of approximately 1.4 million homes, of which, 80 percent
of the demand is expected to emanate from the 3-5 lakh income group. There is
an unmet demand for basic affordable housing in Mumbai and the MM region due to
an increase in land, labour and construction costs, he added. "Affordable
housing, said Mr. Pravin Doshi, "is one of the most talked about issues in
the real estate over the past several years. The challenge is to provide affordable
homes for every family in Mumbai and the MM Region. There are also very few houses
in the affordable income bracket that are being constructed across Mumbai and
the distant suburbs." Mr.
Doshi further added that "around 60 percent of the population of Mumbai lives
in informal housing. Therefore, affordable homes should be the focus of all concerned
stakeholders. By hosting the 'Homes for All convention' we intend to provide a
clear blueprint to address the issues at hand and the appropriate way forward,
said Mr Doshi. Commenting
on the MCHI's movement towards affordable housing in Mumbai and MMR, Mr Mayur
Shah, Secretary MCHI said, "this innovative plan would prove to be a win
win for the people in Mumbai and MMR, developers and all other stakeholders. With
the active support of the state government and other bodies, developers would
be in an ideal situation to facilitate the creation of additional housing stocks
in the affordable segment and hand them over for distribution to the needy people".
The
Government of Maharashtra has already announced several Affordable Housing schemes
through various schemes like MMRDA's - Rental Housing (homes of 160 sq. ft.),
SRA (269 sq. ft.), MHADA (LIG, MIG & EWS) and Redevelopment cessed building
33 (7) and 33 (9). But
there are many bottlenecks, and there's a need for speedy clearances which can
thereby create huge supply through these schemes. MCHI
would like to play the role of facilitator and suggest policy related and practice
related reforms so as to streamline the Affordable Homes supply through these
schemes. The Joint Declaration shall form a Joint Committee to iron out procedural
and regulatory issues affecting Affordable Housing projects. "Creation of affordable houses is an overriding priority and it could only be accomplished with active support from all stakeholders", Mr. Doshi further added. (editor@thesynergyonline.com) 'AFFORDABLE
HOUSING - HOW LAW AND POLICY CAN MAKE IT POSSIBLE' By
Dr Arun Mohan
NEW
DELHI, FEB 20 : Mr Justice R. V Raveendran, Judge, Supreme Court of India presided over the function. Many judges of the Supreme Court and the High Court were present at the function along with Town Planners, Architects, Builders, Developers, Consultants, Experts, Bankers, and other eminent personalities. The research work ‘Affordable Housing’ examines the problems faced by housing sector across all its stratas – upper middle, middle, and lower middle in particular and comes up with practical solutions on how cost can be reduced and actual development carried out. The work points out how 44 percent of our population which can afford to repay a home loan is ignored by the finance sector. The cost of ownership can be reduced by over 30 percent, the interest rates (or home loans) can be reduced and those who are treated as unqualified for finance can also be given the finance. It also informs how a person who is earning a little more than the minimum wage can look forward to purchase his own flat one day. Wizardly, at law, policy and finances, keeping in view the economic fundamentals and human behavioural patterns, this work covers the problem of housing in its true spirit and is targeted at the policy maker, those concerned with implementing the policy and written in a pattern that even a layman will find it worth it. The book also highlights information and facts a prospective flat buyer, or one taking a home loan, must know. The ‘crisis of confidence’ between the builder, the flat buyer and the bank financier is sought to be overcome by the concept of a Certifying-cum-Performance Guaranteeing Company (CPG Co.). The author took time off from his busy practice and conducted this research and creative writing for public service, as housing is a subject where subsequent light should be thrown. Written from a multitude of perspectives, ‘Affordable Housing’ is a stimulating work written by the renowned Senior Advocate in his inimitable style and clearly demonstrates his ability to fuse the insight on housing from all its perspectives. Moreover
Dr. Mohan plans to bring out the Executive summary in Hindi and other regional
languages so that it can be used by the widest section of the society. The price too is modest for a comprehensive research work, which showcases how the public service element is involved and would be useful for all, including those who one day hope to own a home. It is indeed a masterful and an admirable work in service of society by Dr. Mohan. (editor@thesynergyonline.com) PUNJ
LLOYD WINS RS 1100 CRORE HIGHWAY EPC CONTRACT Thesynergyonline Real Estate Bureau NEW
DELHI, JAN 29 : National Highways Authority of India (NHAI) had earlier awarded the project on a Build, Operate and Transfer (Toll) basis to GMR Hyderabad Vijayawada Expressways Private Limited. Punj Lloyd will be widening the highway from two to 4/6 lanes along with 38 km of service roads. The scope of work will also include construction of 2 major bridges, 32 minor bridges, 174 culverts, and 31 vehicular, pedestrian & cattle underpasses, apart from 66,000 Sq M of reinforced earth retaining wall. Hyderabad and Vijayawada are important commercial hubs of Andhra Pradesh and this project will help boost trade and commerce in the region. In addition to increasing the direct connectivity between these two major cities of the State, Kolkata and Bangalore will also have improved connectivity consequent to the implementation of this highway. Commenting on the new project, Mr. B S Kapur, President & CEO - Infrastructure, Punj Lloyd, said, “We are committed to the Government's vision of developing world-class highways in India. We will deliver to the country and the State of Andhra Pradesh, a reliable, high quality infrastructural solution that will be a model showcase for future projects. ” Punj Lloyd, a diversified global conglomerate providing engineering and construction services in oil and gas, Infrastructure and petrochemicals, with interests in defence, aviation, marine and upstream sectors, has a presence in highway construction. The company embarked on its first road project in March 1999 and has come a long way in these years by completing many highway projects falling under the Golden Quadrilateral and East West Corridors for NHAI. Its completed projects include coastal roads in Andhra Pradesh, Jaipur Bypass and a major section of Kota-Udaipur in Rajasthan, Sasaram-Mohania road in Bihar, Belgaum-Maharashtra road in Karnataka and five highway projects in Rajasthan. Six road projects in Assam awarded by NHAI are in progress. With
this contract, the order backlog for the Punj Lloyd Group on consolidated basis
has gone up to Rs 24,536 crore. This is the total value of unexecuted orders as
on December 31, 2009 and new orders received after that day.
(editor@thesynergyonline.com)
'RESERVE
35% OF LAND AREA IN NEW HOUSING PROEJCTS OR AFFORDABLE HOUSING' Thesynergyonline Real Estate Bureau NEW DELHI , JAN 29
: The present National Housing Policy recommends reservation of 15 percent of the land area in all new housing projects, which is hardly executed and thus the housing remains a dream for middle and lower middle class, adds the ASSOCHAM findings. The
Chamber is of the view that affordable housing for lower middle class should be
within the range, not exceeding Rs.6-7 lakh and that of middle class, the affordable
housing be within the cost of Rs.15 lakh. The
Centre, therefore, should issue a directive to all states and UTs to allocate
lands to all new housing project developers in state owned and private sector
to exclusively construct housing for them for which the land costs should be one
fourth of the market price. This way the affordable housing could be possible
as the subsidized land costs can offset the higher input costs for construction
material. The
Chamber also believes that non-resident Indians should be allowed to save dollars
in India at higher savings rates so that banks and financial institutions no longer
complain of liquidity crunch for extension of loan facilities to projects developers.
The
housing sector which contributes 40% to national GDP can accelerate its contribution
provided industry status is conferred on this as it would enthuse investments
and attract large companies to make their investments in the real estate with
reduced prices. The
Chamber has pointed out that one of the reasons of high cost of real estate and
housing in India is the cost of finance. A major part of housing loans constitute
loans to individuals in the higher income group. Only 5-7 percent of the loans
disbursed by the housing finance companies reach builders and developers. The
industry status will help the sector to access bank lending at average interest
rates at low collateral as against high risk rates prevailing at present. Further,
it would also help sector access central and state subsidies in case developers
are building in backward regions as well as north-eastern regions and raise external
commercial borrowings. The
Chamber has also sought that the terms of loans extension for real estate should
be made easier. It holds that higher debt equity ratio should be available for
real estate sector as under current scenario, restructuring of advances should
also be made available as most of the developers have not been able to adhere
to their respective promise schedule for repayment of their loans. The
Chamber has also mooted a proposal for providing infrastructure status on housing
so that mass housing activities are effected in an integrated manner. Real estate
developers need to be given incentives for creating such an infrastructure in
the country. The
Chamber, therefore, suggests that in the definition of infrastructure facility
under Section 801A, the following clause should be added. "An integrated
township and group housing development on area more than 10 acres involving provisions
of residential, educational, medical, community, commercial or institutional building
and creation of required facilities including roads, water supply, water treatment,
sanitation and sewage system". Further,
the Chamber is of the view that in projects where there is public and private
partnership, these should be classified as infrastructure projects in which government
contributes the land and charges part of the land costs from the developer in
advance from part recovery is made from the sale price of the project.
(editor@thesynergyonline.com)
ERA INFRA NET PROFIT UP 85.39% AT RS 57.24 CRORE Thesynergyonline Real Estate Bureau NEW
DELHI, JAN 26 : For the quarter ended Dec 31, 2009, the company recorded revenues of Rs 896.18 crore, an increase of 51.33 per cent from Rs 592.18 crore in the corresponding quarter last fiscal. EBIDTA stood at Rs 161.75 crore, an increase of 75 percent as compared to Rs 92.34 crore in Q3FY09. For the nine months ended December 31, 2009, the company's revenue was at Rs. 2434.55 crore, up 70.97 percent from Rs. 1423.93 crore during the corresponding period last year. The EBIDTA for the period stood at Rs 475.94 crore, registering an increase of 70.92 percent from Rs 278.44 crore. The company reported a net profit of Rs. 217.21 crore, up 128.78 percent as against Rs. 94.94 crore in the same period of last year. During the quarter the construction and contracts division of the company received the following contracts:
* Rs. 97.92 cr from Steel Authority of India for setting up Basic Oxygen Furnace
(BOF) & continuous casting shop (CCS) at Bhilai Steel Plant, Bhilai, Chhattisgarh. LIC
HOUSING FINANCE NET UP 14% AT RS 153.58 CRORE Thesynergyonline
Real Estate Bureau NEW
DELHI, JAN 25 : The
total income of the company excluding other income for the third quarter was Rs.
878 crore as against Rs. 765 crore during the same period last year, a growth
of 15 percent. The
company has recorded a strong growth in its business during the third quarter
ended December 2009. The company sanctioned Rs.4516 crore and disbursed Rs. 3604
crore of loans, registering a growth of 72 percent and 86 percent respectively.
In the individual loan segment the Company sanctioned Rs. 2796 crore and disbursed
Rs. 2995 crore , registering a growth of 82 percent and 90 percent respectively. The
net profit for the third quarter was Rs. 153.58 crore as compared to Rs. 134.33
crore in the corresponding period last year, showing a growth of 14 percent. The
total income of the company excluding other income for the third quarter was Rs.
878 crore as against Rs. 765 crore during the same period last year, a growth
of 15 percent. For
the nine months ended December 2009, the company sanctioned Rs. 13414 crore and
disbursed Rs. 9791 crore, an increase of 83 percent and 75 percent respectively.
In the individual loan segment the company sanctioned Rs. 10077 crore and disbursed
Rs. 8662 crore , registering a growth of 95 percent and 78 percent respectively. For
the nine months ended December 2009, the company's total income excluding other
income was Rs. 2493 crore as against Rs.2090 crore during the same period last
year, a growth of 19 percent. Net profit during this period was Rs. 448.66 crore
as compared to Rs. 374.06 crore in the corresponding period last year, a growth
of 20 percent. The
company recorded a net interest margin of 2.76 percent for the third quarter of
FY - 2009-10 as against 2.44 percent in the second quarter of FY 2009-10. Mr. R. R. Nair, Director and Chief Executive, LIC Housing Finance , "The company continued on the strong business growth of the earlier quarters, with an equally robust portfolio growth, well above the industry averages. During the quarter, the company was also able to improve on the spreads and Net Interest Margins." (editor@thesynergyonline.com)
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