Real Estate India

  G9 Ccolonizers and Developers Pvt Ltd is Rajasthan’s fast emerging housing developer that everyone wants to be associated with. Considering the housing problems in Jaipur and
Udaipur, G9 have started housing development plans in these cities. These projects have become the first choice for the people in “The Pink City” and “The City of Lakes”. The project in Jaipur known as “Manokamna” aims in fulfilling the housing requirements and is getting more and more popular day after day among the people. Another project, ”

Manokamna
Lake
City” in
Udaipur aims to provide similar requirements to the people there. Khetendra Sharma, one of the directors of G9, states that they have designed the projects in such a way that it meets the requirements of the upper and lower middle class families in Rajasthan. G9 provides low cost housing and helps out its buyers with easy installments or low EMI.                                                                                         Courtesy: TOI dtd:- July 11, 2008

  Omaxe Ltd., is a real estate development and construction company with a footprint in townships, group housing, commercial-shopping malls, office spaces, hotels, bio-tech parks, IT parks, and a presence in 31 towns in 10 states. It is an ISO 9001:2000 company which has also pioneered the concept of theme malls like wedding mall, a one stop shop for all wedding requirements in Gurgaon, Patiala and Agra and House 2 Home Mall in Gurgaon, a mall where all interior requirements to convert house into homes are under one roof.    Recently they have announced the construction of its ultra luxury apartments and penthouses, The Forest Spa’. Spread over an area of approx 8 acres, The Forest Spa is strategically located on the Noida Expressway in Sec 93B facing 325 acres green reserved majestic forest.  Courtesy: - HT dtd: - July 11, 2008

  Jaypee Greens is a real estate division of Jaypee group, with a turnover of Rs.4500 crore. Jaypee Greens Greater Noida is India’s first premium golf centric township situated in Greater Noida on 452 acres of area which offers golf villas and luxurious apartments and penthouses amidst an 18+9 hole Greg Norman signature championship golf course, social clubs, nature reserve, town centre, resort and spa hotel, integrated sports complex with a host of entertainment options.    Jaypee Greens Noida is slated to be the
India’s largest township development with over 1200 acres. It would be a mix use development with 18+9 hole Graham Cooke golf facility, 15 lakes and water-bodies, landscaped greens, play areas and parks and would also have a mix of residential options namely luxury apartments, high-rise condominiums, and independent homes.                                                                                                                                                                                                      Courtesy:- TOI dtd:- July 11, 2008 

                               Super Livingston is set amidst beautiful lush greens to make you feel rejuvenated. This spectacular township is located in the heart of the country and offers 70% of open area within each plot. The open spaces at
Livingston enthrall not just your mind, but also your spirit. The spaces have been designed keeping in mind your need for expansive spaces that capture your imagination the township is a synonym for clutter free, pollution free, rejuvenating atmosphere that fosters harmonious co-existence with natural surroundings replete with facilities such as school, shopping mall, golf course etc, it is built with a view to provide you with world-class amenities within an arm’s distance.

  Spaze Palazo is ideally located on the 150 m peripheral road in Sector 69, Gurgaon. with a multi pronged approach, Spaze Palazo is accessible through the proposed metro rail corridor and from NH8 through a triple access on the proposed six lane

highway and the new semi-circular peripheral link road emanating from the golf course and culminating at NH8.

 Many investors are in dilemma with regards to the timing of the purchase of retail space. There is an obvious choice between making investment at the time when the construction is yet to start and at the time when the mall is getting ready for completion. Subhash Lakhotia advocates that one should book the stall in an upcoming mall before the construction starts. Another investment mantra, according to Lakhotia is not to give the outlet on rent till the mall is complete. “This way one can get substantial return of 15-16 percent besides ensuring high capital appreciation.  Pit falls Sanjay Sachdeva of APIL also advises to invest at the initial stage. “It makes a lot of sense as investor gets ROI as high as 11-12 percent and the value of property works out to be cheaper. But at the same time he cautions about the possible pitfalls.  There are cases where mall developers start leasing out retail space to brands even before the constructions starts. The space is leased out on the basis of LOI and against one-month advance cheque. “And as the mall developers start high pitched marketing campaign, investors get taken in; little realizing that space is not leased out to brand which can withdraw any time. Moreover, since government clearances take long time malls generally overshoot their completion deadline. As such not only investor’s money is blocked, there is even fear of brand shifting to other property. So the safeguard against these pitfalls is to select a mall developer with good reputation and track record of completing projects in time. Also ensure that retail space is leased out to a brand”, advises Sachdeva. Menon further adds that for deciding entry strategy, one must take advice from professional real estate brokerage houses and consulting agencies with retail real estate and brand expertise.  Future prospects What does future holds for retail real estate investors? Given a scenario of robust future supply in malls, would the rental yields manage to hold out? Shubrahnshu Pani is quite upbeat about the future of investing in malls. “Properly planned and executed properties will command premium prices in spite of market pressures. And as the retail boom is here to stay, investors can continue to capitalize on it in the coming years.                                                                                                            Courtesy realty plus 

 How to select or buy retail space in a mall? Ramesh Menon advises that while going in for small or big towns, one must ensure that the catchment area is good with high density of consumers having fairly good disposable income. “While selecting retail space one must keep in mind the convenience of end users. The retail space should be such located that it has good parking facilities besides easy access and exit from the main roads. There should be uncluttered and free movement of shoppers so that they can have hassle free and convenient shopping. Moreover one must ensure that the mall where the space is being taken belongs to a reputed developer and there is event-driven mall management to ensure high footfall” Shubrahnshu Pani Names five success factors for mall performance, including location, management tenant mix, pricing and marketing.  Sanjay Sachdeva of APIL advises to invest in tier 2a& 3 cities for lower value and better ROI. Pani endorses his suggestion “These cities have flourishing catchment that has big potential and opportunities. In tier 2 & 3 cities, the loyalty factor is high while the rentals are low. The cost of setting up an enterprise is low and the high aspirations for brands from the metros can be cashed in upon. Sachdeva advises that it’s always advantageous to invest in city center malls and within a mall it is high traffic areas near elevators escalators, multiplex, and food court that give guaranteed footfall. According to Sachdeva, there is an obvious advantage of buying space close to anchor tenant as anchor store has normally 20-year lease period with 10-year lock-in period and ensures good footfall.  While deciding where to invest the tenant assumes great significance. According to Lakhotia quality of tenant determines the value of your property. If you have quality tenant, the value of your property will go up. Sachdeva adds that most of retail property developers are leasing to MNCs and large Indian companies for direct lease. They are good tenants. These days nobody prefers to lease out retail space to brokers or to a franchisee directly. It is companies, which are directly getting the place on lease from the mall developer, which is in overall inertest of the investor.                                                                                                                                    Courtesy realty plus 

Realtor’s Bid To Sidestep Proviso Snubbed 
India’s largest real estate developer DLF has given a new definition to housing for economically weaker sections (EWS). A senior company executive recently proposed to urban development minister Jaipal Reddy—and was promptly snubbed—that servant quarters attached to high end apartments be counted as the developer’s contribution towards EWS, according to a source in the government.    As per the proposed guidelines, a developer must build at least 35% of dwelling units or 15% of permissible FAR (ratio of developable space to total area available for a project), whichever is higher, for EWS in all group housing projects in Delhi.    As this would mean building cheap accommodation in posh colonies and losing out on revenue, DLF tried to float the ’servant quarter’ proposal to get around this stipulation. The company has never been comfortable with the EWS quota. “It’s not feasible to have high-end apartments and low-income group housing in the same compound. The owners of both types of houses will feel uncomfortable,” a company official had earlier told ET.    This mindset, however, runs counter to the government’s efforts to ensure more dwelling space for members of economically weaker sections, who now find it impossible to buy a house in metros and suburbs. The realty boom of the past four years has seen housing prices climb three-fold in several markets. In just a year, DLF’s net profit rose almost four times, from Rs.1, 934 crore to Rs.7, 856 crore in FY08. However, there has been little initiative by developers to cater to the needs of those who can’t afford expensive houses. Private developers have mostly confined themselves to high-end apartments, which offer fat margins. Courtesy:- ET dtd:- 9^th July 2008

OWNING AN APARTMENT AT BRIGADE GATEWAY IN NORTH-WEST
BANGALORE IS A PRIVILEGE AS IT HAS BEEN DESIGNED AS A LIFESTYLE ENCLAVE SUPPORTED BY A

SUPERSPECIALTY
HOSPITAL, MALL, MULTIPLEX AND SCHOOL Brigade Gateway is located in North-West Bangalore where some neighborhoods still capture the good-old Bangalorean way of life and where owning an independent house is still a status symbol. Bangaloreans today are opting to shift into high-rises and residential enclaves that are designed as ‘lifestyle enclaves’ supported by essential infrastructure like a super-specialty hospital, mall, multiplex and a school, among others.    Gateway has been designed as an enclave comprising residential, retail, commercial and hospitality sections. Designed by New Yorkbased architectural firm H O K, it spans 41 acres. Central to the project is a 2-acre manmade lake. Landscaped seating areas, benches, tree-lined promenades and open–air cafes will border the lake.    The development will comprise over 1,200 apartments spread across 13 residential wings, a Sheraton hotel and an 8-lakh sq ft mall. Also in the offing is a 30-storied office complex adding up to 1-million sq ft of commercial space, a 152-bed hospital to be run by Columbia Asia, the

Brigade
School and a 12-screen multiplex to be set up by the PVR Group. The office tower, called North Star, would be connected to the hotel through a sky-bridge. It includes an observation deck and a helipad.    The Orion Mall is spread over five levels, offering a wide choice of retail, entertainment and food and beverage outlets. According to the company, the mall’s attractions include a stage, amphitheatre, four-storey atrium, extensive landscaping and water features, exhibition and event space and a pedestrian plaza.    Gateway is among the two enclaves that the Brigade Group is currently developing in
Bangalore. The second, Brigade Metropolis, is in south
Bangalore in the Whitefield technology hub.    According to realty consultant Cushman & Wakefield, prime residential property rates in Malleswaram-Rajajinagar hover around Rs 4,675, registering a 2% increase in the past 12 months. These are average values for a three-bedroom unfurnished premium apartment measuring 2,000-3,000 sq ft.    While parking woes continue to bog
Bangalore, the enclave has provision for a multi-level car park, adjoining the office tower, and can accommodate over 2,000 cars. The multi-level car park will extend across two levels of basement and seven upper levels. Additional parking of two basement levels in all zones will be provided. In all, there is a provision to park over 6,000 cars.    The project is located well within the city, around 10 km from M G Road CBD. In future, a metro rail station will come close to the project. Here, prices have seen a significant appreciation since the launch of the project in early 2006. Prices of apartments range between Rs 5,810 and Rs 7,490 per sq ft and are valid till July 31. Courtesy:- ET dtd:- 6^th july 2008  

 Construction company D S Kulkarni Developers (DSK) said it will form a 50:50 joint venture with GTC Cyprus, part of the Dutch-Israeli investment fund Kardan NV, to develop a 250-acre multi-service SEZ in Pune. In a regulatory filing, DSK said GTC would invest up to $90 million in the project in a phased manner. Any further equity contribution will be made by DSK and GTC in their shareholding proportion. The total build-up area of the project is estimated to be more than 15 mn sq ft and total investment in the project is estimated to be around $1 billion. Courtesy:- ET dtd:- 6^th july 2008