Draft Works 13-11-11 by Amir Ebn Sharif

Index of Topics Sl.

Title

Identity Card

Map of Return

Political Influences on Investment by RE Developers

Social Influences

Architecture Matters

Building

Crisis

Key Factors/Chapters _History _First Point _How NRI people are coming back _Key factors behind it

_Commonwealth Games, Delhi 2010 _Games Village _Interior of Projects _Facilities & Amenities offered _Technical Analysis _Built Form Type, Techniques _Materials Used _Sustainability _Economic crisis in the world

A list of the chief players in Indian RE market is given below (as of Nov’10) DLF: DLF’s chief business is to develop housing, marketable and retail properties. Currently it has undertaken the development of 70 million sq ft of housing projects which it intends to finish in the next three years. DLF has joined hands with Delhi Development Authority to develop townships in Amritsar, Pune, Gurgaon, Mumbai, Chennai and Goa. DLF has been the construction company behind different malls in the major cities in India. The company is also developing 50-75 hotels along with Hilton Hotels and infrastructure and SEZ in India in collaboration with Laing O’Rourke (UK).The current market cap is around Rs.51,832.22 crore. Tata Projects: Tata Projects registered an annual turnover of Rs 2,300 crore on July 1, 2007. With more than 1,500 professionals the company has emerged as one of the chief player in EPC projects. Over the last four years, it has attained a CAGR of 50 per cent which quadrupled its annual turnover of 2006-07. Tata Projects functions in concentrated divisions like broadcast and distribution, steel, power production, oil, gas and hydrocarbons and industrial infrastructure. Sobha Developers Ltd: With an annual turnover of Rs 1,189 crore, Sobha Developers Ltd was initiated by the now chairman PNC Menon in the year 1995. On June 30, 2007, the company has 3,706 skilled professionals working for it. At present it owns Rs 3,500-acre land in eight Indian cities namely Coimbatore, Bangalore, Mysore, Chennai, Thrissur, Kochi, Pune and Hosur. The company’s clientele include some of the top players in IT, hotel and construction sector such as Hewlett Packard, Mico, Infosys, Ramaraju Developers, Dell, Timken, etc. Shapoorji Pallonji & Co: The Company has more than 3,500 professionals working for it and is largely driven by its loyalty to consumer satisfaction. Some of the major projects undertaken by Shapoorji Pallonji & Co are World Trade Centre, Mumbai; TELCO industrial complex, Pune; Bhabha Atomic Research Centre, Kalpakkam; HSBC Bank, Mumbai; Hotel Taj Intercontinental, Mumbai; Bank of India, Mumbai; Indira Gandhi International Airport, New Delhi, etc. the company has created magnum opus of construction and has been a consistent executer of challenging projects. Unitech: Recently Ramesh Chandra, Unitech’s Chairman has declared the investment of $ 720 million by his company in the coming four years to develop 28 hotels along with Marriott International. The market capitalisation of the company is Rs.16,867.40 crore.Its chief activities include construction, expansion of real-estate, consultancy in associated sectors, hotels, electrical broadcast and information technology. India Bulls Real Estate: One of India’s largest listed developers developing residential and commercial real estate. Being a focused regional player, more than 90% of IBREL’s portfolio by value is in the three major markets of Mumbai, NCR and Chennai. Established in 2000, the company has grown into one of the leading Indian business houses with its companies being listed on Indian and overseas financial markets having a combined net worth in excess of Rs. 18,000 crores. the current market cap being Rs.6,545.17 crore. HDIL: Ranked as India’s fastest growing real estate company by Construction World-NICMAR in October 2007 & with a current market cap of Rs.8,567.76 crore, Housing Development & Infrastructure Limited has established itself as one of India’s premier real estate development companies, with significant operations in the Mumbai Metropolitan Region. HDIL is a public listed real estate company in India with shares traded on the BSE & NSE Stock Exchanges. With operations spanning every aspect of the real estate business, from residential apartment complexes to towers & townships, commercial premium office

spaces and retail projects like world-class shopping malls. it is India’s largest slum rehabilitation company, & was given the Mumbai International Airport Slum Rehabilitation project in October 2007,one of the largest urban rehabilitation projects in India. Emaar-MGF: One of the world’s leading real estate developers company in India and Development of properties in the residential flats, Commercial Properties, premium apartments etc. The ‘Commonwealth Games Village builder’ is still trying to get listed on NSE.

_First Point •

The Company commenced operations in India in February 2005 and is into real estate development with a pan-India presence and operations spanning all key segments of the Indian real estate industry, namely the residential, commercial, retail and hospitality sectors. The Company's operations encompass various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution. At present, its focus is on the development of residential projects in Delhi and elsewhere in the NCR, Mohali, Hyderabad, Chennai and other key Indian cities.

List of Top Indian RE Companies Sl. 1 2 3 4 5 6 7 8

Name DLF Tata Projects Sobha Developers Ltd Shapoorji Pallonji & Co Unitech India Bulls Real Estate HDIL Emaar-MGF

Market Capital (Crore) Rs.51,832.22 Rs 2,300 Rs 3,500

Website www.tatahousing.in

Rs.16,867.40 Rs.,545.17 Rs.8,567.76 www.emaarmgf.com

NRI-BUYERS-GUIDE (SITED FROM TATAHOUSING WEBSITE. WWW.TATAHOUSING.IN) 1. Who is a non-resident Indian (NRI)? An Indian Citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. organizations and officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as nonresidents). Non-resident foreign citizens of Indian Origin are treated on par with non-resident Indian citizens (NRIs) for the purpose of certain facilities. 2. Who is a person of Indian Origin? For the purposes of availing of the facilities of opening and maintenance of bank accounts and investments in shares/securities in India. A foreign citizen (other than a citizen of Pakistan or Bangladesh) is deemed to be of Indian origin, if, - he, at any time, held an Indian passport, or - he or either of his parents or any of his grand parents was citizen of India by virtue of the Constitution of India or Citizenship Act, 1955 (57 of 1955). Note: A spouse (not being a citizen of Pakistan or Bangladesh) of an Indian citizen or of a person of Indian origin is also treated as a person of Indian origin for the above purposes provided the bank accounts are opened or investments in shares/securities in India are made by such persons only jointly with their NRI spouses. For investments in immovable properties. (A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka, or Nepal), is deemed to be of Indian origin if, ) - he held an Indian passport at any time, or - he or his father or paternal grand-father was a citizen of India by virtue of the (Constitution of India or the Citizenship Act, 1955 (57 of 1955). 3. Do non-resident Indian citizens require permission of Reserve Bank to acquire residential/commercial property in India? No. 4. Do foreign citizens of Indian origin require permission of Reserve Bank to purchase immovable property in India for their residential use? Reserve Bank has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bona fide residential purpose. They are, therefore, not required to obtain permission of Reserve Bank. 5. In what manner the purchase consideration for the residential immovable property should be paid by foreign citizens of Indian origin under the general permission? The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/FCNR accounts maintained with banks in India 6. What are the formalities required to be completed by foreign citizens of Indian origin for purchasing residential immovable property in India under the general permission?

They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Mumbai within a period of 90 days from the date of purchase of immovable property or final payment of purchase consideration along with a certified copy of the document evidencing the transaction and bank certificate regarding the consideration paid. 7. Can such property be sold without the permission of Reserve Bank? Yes. Reserve Bank has granted general permission for sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts. 8. Can sale proceeds of such property if and when sold be remitted out of India? In respect of residential properties purchased on or after 26th May 1993, Reserve Bank considers applications for repatriation of sale proceeds up to the consideration amount remitted in foreign exchange for the acquisition of the property for two such properties. The balance amount of sale proceeds if any or sale proceeds in respect of properties purchased prior to 26th May 1993, will have to be credited to the ordinary non-resident rupee account of the owner of the property. 9. Are any conditions required to be fulfilled if repatriation of sale proceeds is desired? Applications for repatriation of sale proceeds are considered provided the sale takes place after three years from the date of final purchase deed or from the date of payment of final installment of consideration amount, whichever is later. 10. What is the procedure for seeking such repatriation? Applications for necessary permission for remittance of sale proceeds should be made in form IPI 8 to the Central Office of Reserve Bank at Mumbai within 90 days of the sale of the property. 11. Can foreign citizens of Indian origin acquire or dispose of residential property by way of gift? Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of properties up to two houses by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin whether resident in India or not, subject to compliance with applicable tax laws. 12. Can immovable property held in India, be transferred by way of gift to relatives/registered charitable trusts/organizations in India? Yes. General permission has been granted by Reserve Bank to non-resident persons (foreign citizens) of Indian origin to transfer by way of gift immovable property held by them in India to relatives and charitable trusts/organizations subject to the condition that the provisions of any other law, including Foreign Contribution (Regulation) Act, 1976, as applicable, are duly complied with. 13. Can foreign citizens of Indian origin acquire commercial properties in India? Yes. Under the general permission granted by Reserve Bank properties other than agricultural land/farm house/plantation property can be acquired by foreign citizens of Indian origin provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking channels or out of funds from the purchasers' NRE/FCNR accounts maintained with banks in India and a declaration is submitted to the Central Office of Reserve Bank in form IPI 7 within a period of 90 days from the date of purchase of the property/final payment of purchase consideration.

14. Can they dispose of such properties? Yes 15. Can sale proceeds of such property be remitted out of India? Yes. Repatriation of original investment in respect of properties purchased by foreign citizens of Indian origin on or after 26th May 1993 will be allowed to be remitted up to the consideration amount originally remitted from abroad provided the property is sold after a period of three years from the date of the final purchase deed or from the date of payment of final installment of consideration amount, whichever is later. Applications for the purpose are required to be made to the Central Office of Reserve Bank within 90 days of the sale of property in form IPI 8. 16. Can the properties (residential/commercial) be given on rent if not required for immediate use? Yes. Reserve Bank has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income are eligible for repatriation. 17. Can NRIs obtain loans for acquisition of a house/flat for residential purpose from authorized dealers/financial institutions providing housing finance? Reserve Bank has granted general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc., and authorized dealers to grant housing loans to non-resident Indian nationals for acquisition of a house/flat for self-occupation subject to certain conditions. The purpose of the loan, margin money and the quantum of loan will be at par with those applicable to housing loans to residents. Repayment of loan should be made within a period not exceeding 15 years out of inward remittances or out of funds held in the investors' NRE/FCNR/NRO accounts. 18. Can Indian companies grant loans to their NRI staff? Reserve Bank permits Indian firms/companies to grant housing loans to their employees deputed abroad and holding Indian passports subject to certain conditions. 19. Can authorized dealer grant housing loan to non-residents of Indian nationality where he is a principal borrower with his resident close relative as a co-obligant/guarantor or where the land is owned jointly by such NRI borrower with his resident close relative? Yes. However, in such cases the payment of margin money and repayment of the loan installments should be made by the NRI borrower.

Definition of SpacesÂ What is the difference between carpet area, built-up and super built-up area? Carpet Area: The area of an apartment or building, not inclusive of the area of the walls is known as carpet area. This is the area that is actually used and in which a carpet can be laid. Built-up Area: When the area of the walls including the balcony is calculated along with the carpet area, it is known as built-up area. Super Built-up Area: The built-up area along with the area under common spaces like lobby, lifts, stairs, garden and swimming pool is called super built-up area.

non resident

mapping indians worldwide

_Map _NRI Population (approx) _Currency

USA

Europe

Middle East

Australia

€ $ £

A brief history

EMAAR MGF

_History Emaar Properties, based in the United Arab Emirates, is a Public Joint Stock Company (PJSC) listed on the Dubai Financial Market. Established in 1997 with an initial paid-up capital of AED 1 bn, Emaar Properties is currently the Persian Gulf region's largest land and real estate developer. With over 60 companies, Emaar's activities include property investment and development, property management services, education, healthcare, retail and hospitality sectors, as well as investing in financial service providers. In 2007 the government of Dubai through the Investment Corporation of Dubai took a 32% equity stake in Emaar by exchanging land for 28 billion AED worth of stock. Emaar MGF Land Limited is a joint venture between Emaar Properties PJSC of Dubai and MGF Development Limited of India. Emaar is one of the world's leading real estate companies, having developed approximately 89 million square feet of real estate across residential, commercial and other business segments and with operations in 14 countries. MGF has established itself as one of the key players in retail real estate development in Northern India and has delivered approximately 2 million square feet of retail space. _First Point The Company commenced operations in India in February 2005 and is into real estate development with a pan-India presence and operations spanning all key segments of the Indian real estate industry, namely the residential, commercial, retail and hospitality sectors. The Company's operations encompass various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution. At present, its focus is on the development of residential projects in Delhi and elsewhere in the NCR, Mohali, Hyderabad, Chennai and other key Indian cities.

Timeline of Emaar-MGF Properties MGF Developments Ltd. & EMAAR Properties merged together in India and formed Emaar MGF

EMAAR Properties listed as public joint stock company in UAE

2007

2005

2004

2003

2002

2001

2000

1999

1998

1997

1996

1995

1994

1993

1992

1991

2006

Commissioned for constructing ‘Commonwealth Games 2010’ Village in Delhi

MGF Developments Ltd. started its journey in India

Factors that attract for Investing in India non resident indians (NRI)

€ $ £

forex

As Foreign Direct Investment(FDI) _Starting from a baseline of less than USD 1 billion in 1990, a recent UNCTAD survey projected India as the second most important FDI destination (after China) for transnational corporations during 2010-2012. _As per the data, the sectors which attracted higher inflows were services, telecommunication, construction activities and computer software and hardware. _Mauritius, Singapore, the US and the UK were among the leading sources of FDI.

events

XIX Commonwealth Games, Delhi 2010

facilities

Commonwealth Games Village in Delhi

UNCTAD_United Nations Conference on Trade and Development

Building >>>>>>>>>>>>>>>>>>>>>

residential

commercial

Retail

construction

form

architectonic detail

Interiors >>>>>>>>>>>>>>>>>>>>> facilities Commonwealth Games Village

amenities

services

Newspaper Articles on Emaar-MGF Properties