Property & Wealth Dec Jan 2013 14 by Property & Wealth

`17.55 Lacs*

contents

COVER STORY

Punjab - a new reality

TOP BUSINESS HONCHOS FIRM UP INVESTMENT WORTH RS 55000 CRORE IN THE STATE BADAL ENVISIONS PUNJAB AS THE COUNTRY’S MOST PREFERRED INVESTMENT DESTINATION

propertywise News & Events 19 Hotspots

REIT- sides & the flip 30 Retail In Asia - Different Strokes For Different Folks 34 Delayed Projects Plague NCR’s Residential Market 36 Top realty destinations to invest in near metro cities 38 Home Loans Check List 41 Most Expensive Streets across the World (2013) 42 Indian office space –a subdued sentiment 44 Real Estate Investment Advice: Bungalows Versus Flats 46 Care Rates Iscon Platinum by JP Iscon Limited 49

04 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

contents

prosperityseek Be a Prosperity Seeker

Premium Pools In Hot Demand For Luxury Homes

Home of the Rich & Famous 58 Amazing Buildings Amazing Gadgets

60 62

Dynamics of Luxury Living in India

Eyecatchers

Amazing Getaways

Amazing Sites

Planetsavers

Bookshelf 75 Combination of Vastu, Fengshui and Interior can turn your house in a true home

Healthy Living

Softcorner

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 05

3rd Year of Publication ......

Download or browse any of the archive issues at www.propertyandwealth.in www.facebook.com/propertyandwealth

from the

about this issue “Think Big, Achieve Big”, and “Money follows ideas” slogan by Deputy CM, Punjab evoked instant response by leading industrialists at the Progressive Punjab Investment Summit held at Indian School of Business, Mohali on 9 – 10th Dec 2013. Deputy CM Sukhbir Singh Badal made an elaborate and fact based presentation on what he called “a new reality about Punjab,” the business honchos responded by pledging up investment worth Rs. 55000 crore in the state. Probably to ensure that industry leaders do not back out from the promises made on dais, Chief Minister Prakash Singh Badal wittingly quoted that, ‘in PUNJAB we call, promise breaker – a shoe maker’. If investments actually come through, it will certainly be ‘a new reality about Punjab’, but for that to happen, promises will have to be kept on both sides. Read all about the summit as also Deputy CM Sukhbir Singh Badal’s call for Investment In Infrastructure, Realty, Housing And Power Sector. In the news section, the big news is that Coldwell Banker Real Estate LLC has announced the signing of a master franchise agreement with Coldwell Realty Private Ltd. to affiliate and service Coldwell Banker® and Coldwell Banker Commercial® franchises in India. The firm will operate as Coldwell Banker India. Read on page 30 all about Real Estate Investments Trusts (REITs) and its scope & advantages in the Indian environment and how it can help a sagging commercial real estate. In prosperity seeker this month, say goodbye to Sachin Tendulkar as he ends his cricket innings, meet the Indian techie who got richer by Rs. 1240 crores following a takeover by APPLE computers, welcome The Bonneville in INDIA, the legendary motorcycle from the British motorcycle maker -Triumph and appreciate the work done by Shabana Azmi, film actress turned social activist. Our eye catcher this month is Google Boy - Kautilya Pandit, a child prodigy from Haryana. In book review, learn about ‘Working the Law of Tenfold Return’, Seed Money In Action, a book by Jon P. Speller, D.D. Turn your house into home with a combination of Vastu, Fengshui and Interior, read all about it in our regular feature by Vaastu Shree, Vaastu Visharad Shri Naresh Singal. Health comes first. Do not miss out on healthy living columns this month and it’s all about Walnuts as a healthy snack. A Walnut a day, keeps heart surgeons away. We now meet on 1st Feb 2014, so wishing you a healthy & prosperous 2014. Jasmeet Dhamija Editor-in-Chief

08 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

CONTRIBUTORS AND ASSOCIATES Publisher & Editor-in-Chief Jasmeet Dhamija jasmeet@propertyandwealth.in

editorial

Editor Charu RS charu@propertyandwealth.in

….sustained hopes - 2014!!

Feature Writers Satpal Kataria, K.Singh, Rupinder PD, Sheetal Singh

It’s a magic movement when something small gathers steam and gains critical mass - could be new fashion trend, a social behavior or even an epidemic. A lot of it has to do with the kind of people involved, the stickiness of the concept and a social context. As debutant AAP (Aaam Aadmi Party) cements its place as a major player in the Capital of one of the largest democracies, the world watches over this turn around in common man’s exhausted patience, intuitive sensibility, the ‘try new’ attitude & more so the always sustained hopes. It has become evident that the mantle of leadership is no longer reserve only for a chosen few. Be it Politics or Economics! The sheer complexity of modern business, its volatile & global nature, a desperate necessity for innovation, and unprecedented rapidity of change has all created a clamor for more and better leadership. Has a new era begun, is India or more so Bharat story back with a bang! Is this the real catalyst for change.. will the souring growth numbers upscale! Will the politico change bring out the desired economic dynamics? As we ponder upon these long-term issues… the basic derivation remains “Change” seemingly has been the order of the year.Be it bidding farewell to the master blaster for a new rising in Brand Sachin or may be the passing of Nelson Mandela, which leaves awaning number of global figures representing freedom and resilience. …we still have sustained hopes for the New Year 2014!! Charu RS Editor

Art Director & Visualiser Rajesh Bhardwaj Graphics Team Antima, Sunil, Mohinder Advertisement & Sales Director Marketing: Sandeep Kapoor (M) 9818510511 sandeep@propertyandwealth.in Subscription Ajay Gupta Photography Rohit Bhatia Pre Press Team: Gopal Production Team: Vikas, Vijay Advisory Board Harpreet Pooja & Associates Architects Rajiv Gupta & Associates Chartered Accountant Vikas Chatrath, Advocate Printed & Published by Jasmeet Singh at Plot No. 437-A, Industrial Area Phase-2, Chandigarh. Owned by Jasmeet Singh, 220, Sector 19-A, Chandigarh & Printed at Savitar Press, Plot No. 820, Ind. Area Ph-2, Chandigarh. Print Production

info@ideaprintcity.com

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 09

cover story

Punjab - a new reality BADAL ENVISIONS PUNJAB AS THE COUNTRY’S MOST PREFERRED INVESTMENT DESTINATION TOP BUSINESS HONCHOS FIRM UP INVESTMENT WORTH RS 55000 CRORE IN THE STATE

Punjab Chief Minister Mr. Parkash Singh Badal addressing the leading Industrialists of the country during Progressive Punjab Investors Summit-2013 at SAS Nagar (Mohali)

10 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

usiness and industry in the country gave a forceful endorsement to the new investment policy orientation of Punjab at the two day Progressive Punjab Investment Summit began at the ISB campus on 9th Dec. 2013. With some of the top names with global profiles, like Mr. Mukesh Ambani (Reliance), Mr. LN Mittal (Arcelor-Mittal), Mr. Sunil Bharti Mittal (Bharti Airtel), Mr. Sunil Munjal (Hero Honda), Mr. YC Deveshwar (ITC), Mr. Onkar Singh Kanwar (Apollo), Mr. Malwinder Mohan Singh (Fortis) among others, flanking Chief Minister Parkash Singh Badal and Deputy Chief Minister Sukhbir Singh Badal on the stage, this was quite easily the biggest day for investment promotion for Punjab and for show-casing the state as the most preferred investment destination in the country. As Deputy CM Sukhbir Singh Badal finished his elaborate and fact based presentation on what he called “a new reality about Punjab,” the industry responded by giving him and the Punjab government a full-throated testimonial, with LN Mittal going the extent of declaring that Punjab was the quickest in responding to business requests. The Deputy Chief Minister positioned himself as the CEO of the state when it came to business and industrial investment, and speaker after speaker got up to give him the thumbs up. Deputy Chief Minister Punjab Mr. Sukhbir Singh Badal addressing the Captains of the Indian Industry during Progressive Punjab Investors Summit-2013 at SAS Nagar (Mohali)

It was clearly from the whole hearted response of the tycoons of business and industry that the Deputy CM had done his home work well and had succeeded and projecting his government as the most business friendly government in the country. Not just the commitments of Rs 55000 crores of investments but even the words in the speeches that accompanied these decisions proved that Mr. Sukhbir Singh Badal had been received an overwhelming mandate in his favour from the captains of business, trade and industry.

His “Think Big, Achieve Big”, and “Money follows ideas” slogans evoked instant response. The comfort level of the business and industry tycoons with the organisers carried a message of its own as it revealed that they had chosen to place their trust in the present dispensation in Punjab.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 11

cover story

Punjab Chief Minister Mr. Parkash Singh Badal & Deputy Chief Minister Mr. Sukhbir Singh Badal and sitting on the dias the leading industrialists of the country during Progressive Punjab Investors Summit 2013 at SAS Nagar (Mohali)

Sensing the mood of the summit, the Chief Mr. Parkash Singh Badal deviated from his prepared speech and delivered what could only be a called a “statesman’s futuristic message for carrying the fruits of development, growth and prosperity to the poorest of the poor.” Having seen that the leaders of business and industry no longer needed any persuading to invest in Punjab, the Chief Minister dwelled elaborately on the goals of development, mixing it with traditional Punjabi warmth and humour, even having delicious and light-hearted jibes at his “good son for leaving nothing for me to speak.” While the Deputy CM focused on “walking the talk” and elaborated the path-breaking steps already taken by his government to cut red tape through a regime of governance reforms, the Chief Minister envisioned Punjab as the most preferred investment destination in the country. The Chief Minister envisioned Punjab as the most preferred investment destination with firming up of total investment to the tune of Rs 55000 crore on the first day of Progressive Punjab Investors summit, where eminent industrialists and entrepreneurs from the country and across the globe evinced keen interest to set up their ventures in varied fields. Addressing the galaxy of captains of industry and noted

12 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

entrepreneurs on the inauguration of two days summit here at Indian School of Business (ISB), the Chief Minister said that the vision and dynamism of Deputy Chief Minister Mr. Sukhbir Singh Badal to put Punjab as the frontrunner state on the Industrial map of the country, has finally bore fruits with his unique effort to organize this mega event for the first time ever organized during his political career spanning over more six decades. He said that the recent path breaking initiatives by giving lucrative incentives in terms of VAT retention, exemption of stamp duty besides establishing Punjab Industrial Promotion Bureau headed by him with Deputy Chief Minister as its cochairman and Mr. Anirudh Tiwari appointed as its Chief Executive Officer to give clearances in fast mode to the entrepreneurs would be instrumental in reposing their confidence and trust in the investor friendly policies of the state government. Mr. Badal pointed that earlier single window service was merely a sham devoid of any meaningful purpose, which not only demoralized the potential investors but also hampered the industrial development of the state. The Chief Minister said that the complete communal harmony, peace and amity was mainly responsible for overall development and prosperity in the state and urged the industrialists to make optimum use of this congenial atmosphere backed by excellent infra structure, surplus power, skilled human resources and best industrial and work culture, for which the Reserve Bank of India has even

Punjab Chief Minister Mr. Parkash Singh Badal shacking hand with Mr. Mukesh Ambani Chairman Reliance Industries during Progressive Punjab Investors Summit 2013 at SAS Nagar (Mohali) on Monday. Dy. CM Mr. Sukhbir Singh Badal and Industry Minister Punjab Mr. Madan Mohan Mittal are also seen in the picture.

rated Punjab amongst the three best investment destinations across the country. The Chief Minister said that Punjab’s economy was predominantly an agrarian economy which has already reached a plateau and now we were left with only option to go for industrialization in a big way and today’s summit was a step towards this direction. He announced to convene a much bigger summit on agriculture in February next year thereby inviting the key players in agro processing and stakeholders related to agriculture not only from the country but abroad also to further consolidate the agrarian base of our economy with a focus on marketing besides food processing as a value addition to the agriculture produce to benefit the farmers enormously. Mr. Badal impressed upon the leading players of the industry to attend that Agriculture summit also with same enthusiasm so that pro-farmer policies could be chalked out to help our beleaguered peasantry especially the small and marginal farmers. Buoyed over the whopping investments coming forth in today’s summit, the Chief Minister in a lighter vein asked the Deputy Chief Minister to closely follow up the MoUs signed between the state government and the various industrial houses so that these investments should not merely remain on paper but

should actually come on the ground. He urged the Industrialists to be humane in their approach and contribute a significant portion of their wealth for the philanthropic causes under the Corporate Social Responsibility. Mr. Badal appreciated Reliance and Bharti groups for doing exceptionally well for the welfare of poor and disadvantaged sections of society. He said the spirit of charity and doing good to poor was an inherent character of the Punjabis as they have derived this inspiration from the great Sikh Gurus, who called upon them to contribute atleast 10% of their wealth (Dasvandh) adding that in the spirit he asked the industrialists to donate generously for the well being of needy because magnanimity for such humanitarian acts never goes unrewarded rather their wealth would be multiplied manifold. The Chief Minister said that he had prioritized the Health and Education sector by launching unique schemes so that these core sectors should not be ignored at any cost. He said that the state government has started Dr Hargobind Khurana Post Matric scholarship scheme to give scholarship to the poor but bright students securing more than 80% marks in Matric class. Likewise Mr. Badal said that six special schools were being set up by the state government to provide free education to meritorious students of the rural areas adding that these schools would provide free boarding and lodging facilities to

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 13

cover story FLOW OF INVESTMENTS Reliance Industries (RIL) chairman Mukesh Ambani on Monday announced the possibility of a "collaborative venture" with Bharti Airtel in setting up digital infrastructure in the country. Speaking at the Progressive Punjab Summit in Mohali, Ambani announced an investment of Rs 2,500 crore for setting up digital infrastructure for the 4G network. Ambani also announced that Reliance Foundation will partner with Punjab in promoting sports, specially basketball in schools. Bharti Airtel chairman Sunil Bharti Mittal, also announced an investment of Rs 4,000 crore to set up digital infrastructure in Punjab. During the summit, Arcelor Mittal chairman Lakshmi Mittal announced that his company will expand Bathinda refinery project by at least 25 per cent with additional investment of Rs 20,000 crore. While ITC chairman Y C Deweshwar declared that the company will set up its "showcase" food processing industry either in Ludhiana or Jalandhar, Bicon chief Kiran Majumdar Shaw said her company is taking Punjab "very seriously" for investment. The summit kicked off with many important announcements expected to be made during the course of the two-day event. More than 20 memoranda of understanding are scheduled to be signed between the government and top industrial houses promising investment worth Rs 25,000 crore. This includes a Rs 900-crore investment by Medanta in a 25-acre Medicity in Mohali. This will be their second venture in the country. Max Healthcare and Fortis Healthcare Ltd will also set up hospitals in Medicity. Ranbaxy is also expected to announce the launch of another pharmaceutical unit in Punjab.

the students at par with the private schools. The Chief Minister urged the Industrialists to open Skill centers to train the unemployed youth to enable them to be gainfully

14 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

employed besides catering to the needs of local industry. He also asked the major captains of the Industry to focus their attention on the welfare and prosperity of the economically weaker sections as a part of ‘inclusive development’ otherwise any deviation from this path could lead to a dangerous trend of Naxalism, which was spreading its wings swiftly across several parts of the country. Slamming the Union government for ignoring the common man, the Chief Minister said that the Congress has to pay heavy price for its anti-people policies as it has been routed from the four states during the recently concluded assembly polls whereas a novice Aam Aadmi Party has registered impressive gains only due to its concern shown for the poor and common people. He said that Punjab which contributes 60% of the food grains in national kitty despite of its 1.5% of country’s total area besides enormous contribution of Punjabis in national freedom struggle and safeguarding the borders from our hostile neighbor has never been acknowledged by the Centre. Earlier in his power point presentation Deputy Chief Minister Mr. Sukhbir Singh Badal, while declaring Punjab as a power surplus state, said that the power would be available here at cheaper rates as compared to other states. Citing the CRISIL rating of High prosperity and Equality, he said that the state was having the best infra structure which was a basic catalyst of industrial growth. The Deputy Chief Minister said that due to the concerted efforts of the state government Ludhiana city has been declared best investment destination by the world bank adding that the RBI has also adjudged the state as one of the top three investment destinations of the country. The Deputy Chief Minister said that Punjab would be only state with best air connectivity having three international airports at Mohali, Amritsar and upcoming at Macchiwara besides three domestic terminals at Bathinda, Ludhiana and Pathankot. He further said that Punjab was having the finest road network having four/ six lanes roads throughout the state which connected all the cities and towns of the state. The Deputy Chief Minister said that the state government has embarked a major scheme for the comprehensive planning and development of urban and rural areas across the state thereby equipping them with 100% water supply and sewerage facility. Underscoring the need of growth with equity, the Deputy Chief Minister said that he was a firm believer that ideas were far more important than the resources and to think big for achieving big was his motto for success. He said not only the key players in

Punjab Chief Minister Mr. Parkash Singh Badal addressing the leading Industrialists of the country during Progressive Punjab Investors Summit-2013 at SAS Nagar (Mohali)

industry from India but abroad like CTCI Taiwan, USA’s leading Mall Company Gumberg have already landed in the state. The Deputy Chief Minister reiterated that conducive atmosphere coupled with peace and harmony and enterprising skill of Punjabis was a major factor to boost investment sentiment in Punjab adding he said strikes and labour unrest were words unheard of in the state. The Deputy Chief Minister said that the establishment of PBIP would facilitate the investors in securing clearances in a hassle free manner under one roof and CEO has been made accountable to give sanctions with regards to ten departments. He said that the lucrative concessions given to industry had further rejuvenated confidence amongst the industrialists besides scaling down the corruption at the cutting edge considerably through bringing out of box governance reforms which were guaranteed to eliminate the interface between the public and government officials.

Earlier the Chief Secretary Mr. Rakesh Singh welcomed the esteemed gathering whereas Cabinet Minister Mr. Madan Mohan Mittal proposed the vote of thanks. Principal Secretary Industries Mr. Karan Avtar Singh conducted the proceedings of the state. Prominent amongst those present on the occasion Cabinet Ministers Mr. Bikram Singh Majithia, Mr. Janmeja Singh Sekhon, Mr. Sarwan Singh Phillaur, Mr. Sikander Singh Maluka, Mr. Sharanjeet Singh Dhillon, Advisor to Chief Minister on Media and National Affairs Mr. Harcharan Bains, Media Advisor to Deputy Chief Minister Mr. Jangveer Singh, Assistant Media Advisor to Deputy Chief Minister Mr. Harjinder Sidhu, State BJP President Mr. Kamal Sharma, Financial Commissioner Revenue Mr. NS Kang, Financial Commissioner Development Mr. Suresh Kumar, Principal Secretary to Chief Minister Mr. SK Sandhu, Special Principal Secretaries to Chief Minister Mr. Gaggandip Singh Brar and Mr. KJS Cheema.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 15

cover story

Sukhbir Seeks Investment In Infrastructure, Realty, Housing And Power Sectors • UNVEILS NEW INVESTOR FRIENDLY HOUSING AND URBAN DEVELOPMENT POLICY-2013 • FOCUS ON HOLISTIC INFRASTRUCTURE DEVELOPMENT Punjab Deputy Chief Minister Mr. Sukhbir Singh Badal today sought private investment in infrastructure, housing and urban development, logistic and warehousing, power and renewable energy sectors while unveiling new Housing and Urban Development Policy-2013, Renewable Energy Policy, offering best incentives in the country. Inaugurating the first session ‘Propelling Sustainable Infrastructure’ focused on housing infrastructure and renewable energy sectors on the first day of Progressive Punjab Investors Summit here today, the Deputy Chief Minister said that Punjab is the first state in the country that has unveiled holistic infrastructure development model under which a single agency would be responsible for providing all urban civic amenities including water, sewerage, street lightning, solid waste management, sewerage treatment plant and would be collecting user charges from the consumers. He said that Punjab Government believes in handing over the development of Housing Infrastructure and Urban development totally to the private players and with government acting as facilitator. He said that Punjab was focusing on overall development of 147 cities and there was investment potential of Rs. 2280 crore in water supply and sewerage sectors besides Rs. 732 in 8 clusters of Punjab for Solid Waste Management. Mr. Badal said Punjab was focusing on providing world class citizen services and was looking for private players for establishment of data center, disaster recovery center, GIS Database and Data digitalization of records of urban properties and there was a potential business of hundreds of crores in this sector. Unveiling the new Housing and Urban Development Policy 2013, Mr. Badal said this policy has been framed after extensive consultation with stake holders has salient features like common building rules, rationalization of potential zones for CLU, EDC and other charges, incentives for green building, public private partnership in urban development and provides incentives for affordable housing. Mr. Badal said that in the 16 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

new policy floor area ratio has been upgraded from 1:1:75 to 1:30 and density per gross acre norm has been increased from 175 PPA to 300 PPA for general housing and 400 for EWS houses to provide more housing stock in the market. He said that Punjab is the torchbearer in having Land Pooling Policy and has already unveiled a new policy for mega and super mega projects. Showcasing the potential investment opportunities in Punjab, Mr. Badal said that upcoming New Chandigarh in the Greater Mohali Area is all set to give to new impetus to economic growth and development. He said there are number of opportunities in Medicity to be constructed on 424 acres of land, Educity on 1700 acres, IT City on 1688 acres. He said investment opportunities in the proposed financial district and Downtown Mohali and Downtown Ludhiana would put development model of Dubai in a shade. Speaking about the investment opportunities in the Renewable Energy Sector, the Deputy Chief Minister said there was great scope of investment in the clean energy sectors of solar and biomass power. He said Punjab is targeting to operationalise 200 MW solar power and 1000 MW biomass power in next three years. Earlier Mr. A. Venu Prasad, Secretary Housing and Urban Development, Mr. Anurag Aggarwal, MD PIDB and TRANSCO gave a detailed presentation on urban development, renewable energy policies of the state and answered the queries of investors from all over the country regarding various policies. The panel discussion that was chaired by Mr. Mohit Gujral, Vice Chairman, DLF, Mr. Pradeep Singh, CEO ISB, Mr. SK Roongta, Chairman Power Business Group Vedanta, Mr. Ravi Khanna CEO Aditya Birla Solar, Mr. Krishna Ram Bhupal, Director GVK Power and was moderated by Mr. Arvind Mahajan, head Infrastructure and Governance Services, KPMG India.

Mr. Mukesh Ambani Chairman Reliance Industries sharing viewpointÂ with Punjab Chief Minister Mr. Parkash Singh Badal during Progressive Punjab Investors Summit 2013 at SAS Nagar (Mohali)

Deputy Chief Minister Punjab Mr. Sukhbir Singh Badal exchanging MoU documents with the respective Chief of the company during Progressive Punjab Investors Summit 2013 at SAS Nagar (Mohali)

Life is all about Right Choicesâ&#x20AC;ŚMake the Best Choice

Visit & Explore : www.ireoworld.com

PROJECTS: Ireo Water Front, Ludhiana - Integrated Township

Authorized Sales Partner:

Ireo Five Rivers, Panchkula - Integrated Township Ireo Rise, Sector 99, Mohali - Residential Apartments Ireo Hamlet, Sector 98, Mohali - Residential Plots & Villas

M: + 91 - 8699 842 416 E: idealproperties1@yahoo.in

Ireo Hub, Sector 98, Mohali - Commercial Open Plaza

news & events REAL ESTATE & INFRASTRUCTURE NEWS EVENTS ROUNDUP

news&events JLL Closes Largest-Ever Land Deal In Kolkata

as a golf course. Alchemist Township India Limited have made a very astute choice in terms of location and land parcel magnitude, allowing them to fully capitalize on this township's residential real estate potential."

Kolkata

Gurgaon Rapid Metro Begins Gurgaon

Rapid Metro-Gurgaon, the country’s first privately financed metro rail service, is now opened to commuters. An announcement to this effect was made by Sanjiv Rai, MD & CEO, IL&FS Rail Ltd. Rapid Metro Gurgaon line will be opened to commuters from 6:05 am till 12:20 (midnight). Five fully automated trains with a frequency of 4 minutes would run between six (currently five) stations.

2 Mn. Sq. Ft. Land Parcel Acquired By Alchemist Township India Limited Biggest Ever For Eastern Metropolis Delhi-based real estate developers Alchemist Township India Limited have purchased 2 million square feet of prime residential land from Highland Group at Kolkata Riverside, a satellite township development encompassing 262 acres being developed on the banks of the Hooghly River. Altogether, Alchemist Township India Limited has earmarked approximately Rs. 600 crore for this project. Jones Lang LaSalle India was transaction partner for both the firms in this deal. Mayank Saksena, Managing Director - Land Services, Jones Lang LaSalle India says, "Kolkata Riverside is a prime township project that incorporates the latest features in environmentfriendly urban planning. It also has a very healthy mix of market drivers, including a 25-acre IT Park created entirely on sustainable development parameters, various commercial establishments catering to the services sector, world-class physical infrastructure and advanced lifestyle features such

The launch of Rapid Metro Gurgaon is likely to boost connectivity within the cyber city. It is expected that about 30 per cent of the existing road traffic will move to Rapid Metro, thereby reducing travel time and traffic jams for commuters on the NH-8, Gurgaon and Delhi. Company officials said Phase I of Rapid Metro had entailed a cost of Rs 1,088 crore.

forthcoming events Property & Investment Fair 2013 Venue: Rotary Club, Ludhiana Date: 21-22nd Dec 2013 20 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Ludhiana

news&events Coldwell Banker Real Estate Announces Master Franchise Agreement for India September 30, 2013 – Coldwell Banker Real Estate LLC announced the signing of a master franchise agreement with Coldwell Realty Private Ltd. to affiliate and service Coldwell Banker® and Coldwell Banker Commercial® franchises in India. The firm will operate as Coldwell Banker India. Coldwell Realty Private, Ltd. is a privately held firm led by Ramnik Chopra and a seasoned management team that has extensive experience in commercial and residential real estate, along with professional and financial services and marketing. The company will be headquartered in Mumbai. Chopra earned an electrical engineering degree in India. He then worked for several technology companies in India and the United States, before starting his own real estate marketing services company to assist reputable Indian real estate developers in marketing to people of Indian origin living overseas. “India has risen dramatically in its wealth and its consumer affinity for quality brands, while preserving traditional values and culture," said Budge Coldwell Banker India will focus on building the brand in the nation of 1.2 billion, the most populated democratic nation in the world, concentrating its initial efforts in major metropolitan areas, including Mumbai and New Dehli. “The time is right for the Coldwell Banker brand to succeed in India,” said Chopra. “We have the world’s fastest growing middle class where homeownership remains aspirational and homeownership rates are rising as personal wealth increases. There is also a great opportunity to reach our affluent population through the Coldwell Banker Previews International® program and provide the outstanding service this market expects. The century-old success of the Coldwell Banker brand, showcased by the brand’s professionalism, strong consumer-service and belief in ethical behavior are qualities that will resonate with the Indian consumer. The proliferation of foreign investment in Indian manufacturing, consumer services and retail also give us an opportunity to succeed on the commercial real estate sector.”

forthcoming events 65th Fiabci World Congress Venue: Luxembourg Date: 17-22nd May 2014

Luxembourg

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 21

news&events Pune’s Sister city, PCMC's First Full-Fledged Mall Pimpri-Chinchwad Municipal Corporation, Pune's thriving sister city, is all set to throw the doors of its first full-fledged mall open to the public. City One Mall, a joint undertaking by PCMC's leading development companies Rama Group and Pharande Spaces, is being exclusively leased by out Jones Lang LaSalle India. Jeetu Panjabi, Director - Rama Group says, "The one missing link on PCMC's well-meshed real estate market has been organized retail. With City One Mall, the gap is finally being bridged. This mall brings the best of brands under one roof to create a unique shopping experience. The Pimpri-Chinchwad Municipal Corporation now has a distinct cosmopolitan profile, and lifestyle aspirations are at an all-time high." Strategically located close to the Pimpri-Chinchwad Municipal Corporation Building, City One has four levels of retail spaces and will provide an international shopping experience, an exclusive Entertainment City, alfresco cafes and global dining options to PCMC's residents. Anil Pharande, Chairman - Pharande Spaces says, "PCMC has always been a promising catchment for retail developments. The region's versatile population profile has already spelled success for major local category players like Jai-Hind, Ranka Jewellers, Silver Leaf, Krishna Rajaram Ashtekar, Vama, Hastakala Sarees, PNG, Bafna Jewellers and Chandukaka Saraf. Nevertheless, PCMC has not had the benefit of a full-fledged mall development to cater to its highly aspirational and rapidly growing shopper catchment." The PCMC region has seen a quantum leap in retail viability, driven by the high purchasing power of employees from its automobile and other manufacturing industries as well as massive trading community. The potential for organized retail in Pimpri-Chinchwad was waiting to be tapped, and Jones Lang LaSalle's retail team confirms that the demand for space at City One has been nothing short of spectacular. So far, organized retail has had a very limited presence in the PCMC belt. The opportunity for retailer to capture the full potential of this market is much greater as compared to

22 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

many other locations. The massive residential development happening in and around PCMC is creating considerable inherent retail demand. National hypermarket chains such as Big Bazaar, Star Bazaar and D Mart and organised retail chains like E Zone, Croma, Vijay Sales, McDonald, Just In Time, World of Titan, Tanishq and FabIndia already exist in stand-alone stores. Now, City One Mall at is all set to offer all the major brands under a single roof. City One Mall's total development size is 3,33,000 square feet of built-up area, consisting of two buildings, both equipped with four levels of retail spaces and two levels of parking space. In the first building, which has a total area of 1,12,000 square feet, Central has already snapped up 81,000 square feet across the ground, first and second floors and is gearing up for a grand launch of Pimpri Central by the end of 2013. The remaining 21,000 square feet have been leased to Men's Avenue - a leading Pune-based apparel retailer which has also taken up space for their 'Kajree' saree section on the second floor. The second building in City One Mall, with 2,21,000 square feet, has been allocated to the mall's multiplex, another anchor as well as restaurants and vanilla retail stores. Mainland China and Global Grill have already taken up 11,000 square feet on the second floor and are operational. The 5-screen PVR multiplex is scheduled to open up in the first quarter of 2014.

KLUDI - The German bath fittings major and leading European brand announces India expansion plans. Globally renowned German bath fittings Brand KLUDI announced their future expansion plans in the Indian Market. Kludi GMBH (Germany) - a 170 Million USD parent company of KLUDIRAK India has acquired majority stakes in the KLUDIRAK with quantum infusion of equity. Strategically, this is an extremely significant step not only from resource mobilization standpoint, but also in terms of the strengthening the brand awareness of KLUDI in India. Consequently, beginning 2014, KLUDIRAK India Pvt. Ltd. will be re-named as KLUDI India Pvt. Ltd. KLUDI India Pvt. Ltd. will invest 1.50 million USD in India to support the expansion plan. This strategic move is the clear reflection of the importance that KLUDI accords India in its global expansion plans. The press conference today was addressed by; Mr. Janusz Palarczyk, Group CEO – KLUDI, Mr. Bernd Neidhardt, Managing Director - KLUDIRAK India Pvt. Ltd. and Mr. Sanjay Bankeshwar – Vice-President (Sales & Marketing) KLUDIRAK India Pvt. Ltd. Commenting on the occasion Mr. Janusz Palarczyk, Group CEO – KLUDI said, “KLUDI is targeting a market share on a 5-year perspective of around 18-20% of the high-end segment of the Indian market by 2018. The high-end and luxury segment of the market comprises approximately 5% of the overall L to R - Mr. Janusz Palarczyk, Group CEO – KLUDI & Mr. Bernd Neidhardt, organized market of INR 4Bn. KLUDI India’s Managing Director - KLUDIRAK India Pvt. Ltd.jpg revenue expectations would be exceeding USD 5 million annually by 2018, growing at 35-40% year on year beginning 2014. In keeping with its core philosophy of quality sales rather than mass selling, KLUDI targets to operate at healthy sustainable gross profits.” Segment-wise, high-end retail is the focal point of KLUDI’s strategy and activity. The high-end hospitality segment too will be a major focus that will be pursued aggressively by KLUDI in India. An additional advantage for KLUDI in India is the establishment of a full-fledged sales office in Singapore, which is expected to support and complement the efforts of KLUDI India in high-end projects. The role of Singapore-based consultants in brand specifications in many high-end institutional projects in India is decisive and KLUDI Singapore office is expected to play a key support role in this endeavor of KLUDI India. PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 23

news&events

Review About 200 real estate developers, investors and lenders attended the event. The Eighth Annual India Global Real Institute - 2013 meeting was held in Mumbai on October 3 and 4. The real estate investment event brought together the international players and national decision makers driving the real estate business in India. Even though the attendance at 8th GRI was lowest if compared to previous editions still the event gave excellent networking opportunity to about 200 real estate developers, investors and lenders who attended the event. Informal discussions were conducted about the issues related to realty business, such as Investing in India, Hospitality Developments, Private Equity, Townships vs. Smart Cities, Domestic Fundraising, Structured Debt Funding, Luxury Housing, Financing, Residential Developments, Shopping Malls, Affordable Housing, IT Parks, Land Acquisition, SEZs, Infrastructure, Logistics, and many more.

24 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

CHANDIGARH CAPITAL REGION PROPERTY HOT SPOTS ZIRAKPUR R ZONE 1 ZIRAKPUR R ZONE 2 MULLANPUR - NEW CHANDIGARH KANSAL AEROCITY MIXED LAND USE & INDUSTRIAL SECTORS 82, 66, 66A, 66B LANDRAN - BANUR ROAD (RIGHT SIDE) LANDRAN - BANUR ROAD (LEFT SIDE) KHARAR LANDRAN - ROAD BALONGI - KHARAR ROAD

FOCUS THIS MONT H MIXED LAND USE & INDUSTRIAL SECTORS 82, 66, 66A, 66B + WEEKEND HOMES

IT City JLPL Industrial Plots

IT City

Falcon View

Bestech Square

GURUDWARA SINGH SHAHEEDAN

TRIBUNE CHOWK

Signature Towers

TO DELHI

TO PATIALA

*Map not to scale

HOT SPOT IN FOCUS

200 ft. International Airport Road

Disclaimer: Map is not to scale and purely for illustrative purpose. Accuracy of the map is not guaranteed.

26 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

HOT SPOT IN FOCUS - MIXED LAND USE & INDUSTRIAL SECTORS 82, 66, 66A, 66B

Janta Industrial

JLPL Falcon View

Location: Sector 66A Mohali

Location: Sector 66-A, Near International Airport, Mohali Highlights: Excellent Location on 200â&#x20AC;&#x2122; Airport Express Highway with 17 ACRES of Lush Green Park Options: 3BHK (2480 SqFt), 4BHK (3007 SqFt) Flats. @ INR 3,790/- per sqft.

Budget Planner

90 100 150 >200

` in Lakh

Highlights: Read to possess plots with all infrastructure in place. Also offering builtup industrial Plots. Options: 500 sq yards or more for Industrial Plots, 250 sq yds built up industrial plot with or without basement.

Budget Planner

90 100 150 >200

MaKaan Search 8437002002, 9872588555

Zigma Wealth 8146992437

Bestech Square Sector 66 Mohali

Signature Towers Location: JLPL Eco City, Sector 66B, Mohali Highlights: Gated complex secured with a multi-tiered security system, Jogging track & landscaped lawns, Club house, Swimming Pool. Options: 4 BHK 3500 Sq. Ft.

Location: Sector 66, Mohali (adjoining Chandigarh) Highlights: Most Prime Location in Mohali adjoining Chandigarh Options: Office Spaces 2BHK & 3BHK Flats

Budget Planner

90 100 150 >200

` in Lakh

Budget Planner

90 100 150 >200

` in Lakh

Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space

IT/ Knowledge Industry Plots

Janta Twin Towers

Location: IT City Sector 82(A) 83(A), 101A

Location: Sector 66-A, SAS Nagar(Mohali), Highlights: The ultimate office spaces with futuristic designs, state-of-the-art facilities and relaxing environment strike the right balance between modernity and functionality Options: Office Spaces

Highlights:Out of total area of 1685 acres, net area of about 400 acres will be used for allotment. The balance area will be used for residential, parks, green belts, institutional, commercial and road network. Options: 0.5 acre to 25 acres

Budget Planner

02 05

100 125 150

` in Crores

Rate Per Acre: 2.75 CR (25 acre site) upto 5 CR (1/2 acre site)

Budget Planner

90 100 150 >200

` in Lakh

Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space

DISCLAIMER: Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 27

WEEKEND/HOLIDAY HOMES

Amravati Hills

DLF Samavana

Location: 3km from Solan on Solan Sabathu Road. Highlights: Registry for built up area for built area Even for non Himachlis. Enjoyable weather round the year Options: 1 BHK 671 sq feet, 2 BHK 111 sq feet and 4BHK duplex cottages 2475 sq feet.

Budget Planner

90 100 150 >200

` in Lakh

Location: Kasauli Hills at 5000 feet, nearly 15kms from Kasauli amidst pristine environment. Highlights:Each Villa & Apartment providing a panoramic view of Mountains. Landscaped Gardens, Swimming Pool & Gym. International 5 star Hotel Options: Villas and Apartments

Budget Planner

90 100 150 >200

Sales Organisers/Dealers: Call 9216841278 to Advertise in this space

Zigma Wealth: 8146992437

Pine Wood Resorts

Hill Farms

Location: Dagshai Hills Highlights: Situated at height of 5500 sq feet. its un spoilt nature at its best with Villas, plots, 5 star resorts. Options: Luxurious independent villas, residential plots

Budget Planner

90 100 150 >200

` in Lakh

Location: Dharampur Sapatu Road 2 kms from Hotel Victoria Intercontinental Highlights: Panoramic View of the valley. Non Himachalis can buy in their own name. Specially imported pre fabricated apartments. Options: 1BHK/2BHK on 400 sq yard Plot

Budget Planner

90 100 150 >200

Sales Organisers/Dealers: Call 9872635220 to Advertise in this space

Mega Marketing: 9815740230

Kaisville

Pine Wood Cottages

Location: Kais Village, Kullu Highlights: First of its kind group housing in HP, Unique terraced landscaping all around. Options: Exclusive low rise designer apartments and Luxurious villas

Budget Planner

90 100 150 >200

SS Associates: 9876500036

` in Lakh

Location: Solan Simla Old Road, Kumar hatti Highlights: Beautiful fully furnished apartment With un spoilt view of the mountains. An ideal hill farm house. Options: 2BHK and 3 BHK

Budget Planner

90 100 150 >200

` in Lakh

Call 9815601347

28 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Zigma Wealth Corporate Office:-

property wise

REIT- sides & the flip REIT buys real estate assets which are income providing

t a time when the real estate sector is reeling under liquidity crunch and poor sales, the Securities and Exchange Board of India (Sebi) has re-initiated the process of introducing real estate investment trusts (Reits) in the country.

As planned way back in 2008, Sebi has finally released a consultative paper and the proposed SEBI (Real Estate Investment Trusts) Regulations for comments. Funds through follow-on offers as well.Â This marks a key step in bringing greater transparency and professionalism in the industry.

30 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

According to the proposed regulations, REITs will be registered as trusts with SEBI. These trusts will not be allowed to launch any scheme. Reits, which will raise funds through initial offers, will have to list their units on exchanges for trade. Knowing REITs REIT is like a company that raises the capital required through an IPO and then sells its shares to its investors. With the capital raised, REIT buys real estate assets which are income providing. Some forms of REIT generate income by renting out the properties, while some others generate income by lending money to other real estate investors.

The income generated from such type of activities is distributed back to the investors in the form of dividends year after year. REITs present a less risky option to investing in under-construction properties and are well suited for investors seeking a regular income.

global investors in India, currently a passive real estate market. REITs are expected to bring in globally recognized practices to real estate funding and renew the interest of both global and domestic investors in this sector. With REIT, one can expect large-scale investor participation in the real estate sector.

REIT was first introduced back in 1962 in the United States of America and ever since then the idea of REITs have spread all over the world through Japan, Singapore and So on.

What is in store for Indian real estate sector? Reits have been on the wishlist of the Indian real estate sector for long. It is expected to bring in globally-accepted practices to real estate funding and revive the interest of both global and domestic investors in the sector.

Key highlights of the draft guidelines • REITs would be able to raise money from investors, resident or foreign. However, at the start units would be offered only to high net worth individuals (HNI) and institutions. • A REIT would have to be set up as a trust which is allowed and registered with SEBI before it can offer units to the public and have its units listed in a fashion similar to an initial public offering of equity shares. A REIT would have a trustee, sponsor, manager and principal valuer before it can apply for registration with the regulator. According to SEBI, a REIT once listed may raise funds through follow-on offers. Moreover, listing of units will be mandatory. • The minimum size of investment that the REIT can hold would be Rs 1,000 crore and the listing of units will be mandatory. The minimum initial offer size would be Rs 250 crore and the minimum public float 25%. To avoid excessive leverage, the consolidated borrowings and deferred payments of the REIT have been capped at 50% of the value of its assets. If the leverage exceeds 25%, the REIT would require credit rating and approval of the majority of investors. • The minimum subscription per investor would be Rs 2 lakh with every unit valued at Rs 1 lakh. • 90% of the investment would have to be made in “completed” revenue-generating properties; the remaining 10% could be invested in other assets as deemed fit by the REIT manager • Full valuation including a physical inspection of the properties would be made at least once a year and be updated every six-months. Accordingly, the net asset value of REIT units would be declared at least twice a year. The action taken by SEBI through issuing these draft guidelines is an encouraging step and will help enhance liquidity position of developers and make the realty sector more transparent and accountable. When REITs come into being these would stimulate substantial investor interest from domestic and

According to Cushman & Wakefield, around 57 million square feet of office space is vacant in India and over 200 million square feet of investible 'Grade A' leased offices are unsold. These properties can be used by Reits to generate rental incomes. The residential segment, where annual rental yield is low (2-5%), will be better suited for capital appreciation. "Allowing Reits will be a sign of the maturity of the Indian real estate market. Reits reduce individual speculation in real estate assets and allow for more professional investment and management in the sector," says Sanjay Dutt, executive managing director, South Asia, Cushman & Wakefield, a real estate consultancy. "If implemented, the timing of Reits will be great as many developers are faced with liquidity issues as they have large amounts of capital locked in commercial assets and are finding it difficult to sell due to the large ticket sizes. Investments by Reits will also indirectly reduce the exposure of banks to risky assets as they have provided construction finances to many projects," he adds. "The decision to allow listing of Reits in India as an investment product will boost the liquidity situation of cash-starved developers, which are struggling to find funds for their construction activities. This will also boost the subdued investor sentiment in the country and will provide an investment avenue which is less risky than under-construction properties, as well as easier exit routes along with regular income " says Sachin Sandhir, managing director, RICS (Royal Institute of Chartered Surveyors) South Asia. It’s the non- clarity on on stamp duty and taxation is what worries some. "Reits will enable developers sitting on assets to both unlock value and create liquidity. Due to global acceptance offshore investors had already begun looking at core opportunities in India. However, there is no clarity on stamp duty and taxation yet, which will play an important role in the success of Reits," says Khushru Jijina, managing PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 31

property wise

director, India Reit Fund Advisors, a real estate fund. Experts say the Indian government and the market regulator will need to move quickly to ensure that the momentum built by Sebi's move remains. They say the process of allowing Reits will have to be expedited to bring in institutional funding and liquidity in the real estate sector quickly. How it help investors & developers REITs are beneficial to both investors and the real estate industry. On the one hand, it provides an exit route for the developer/industry; on the other, it offers investment opportunities in property for retail and high net worth investors. REIT sponsors, usually developers or private equity funds, allow developers to gain liquidity by passing on ownership to unit holders. “This is a welcome move. Once in place it will provide an additional exit route for investors and enable retail money to be channelised into India’s realty sector through a regulated network,” says Anshuman Magazine, chairman and managing director of CBRE South Asia.

32 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

According to the investment bank, DLF, Phoenix, Unitech and Raheja are the largest rental asset owners and likely to be the key beneficiaries. “Given DLF’s high leverage and limited success in monetising its non-core assets, REITs could provide new avenues to raise funding to help it reduce debt. According to Morgan Stanley, India has 400 million sq ft of office and mall properties valued at $60 billion (Rs 3.72 lakh crore). “It is definitely of interest to us and we would like to float a Reit like many others,” said V Hari Krishna, director at Kotak Realty Fund, which has a little over $100 million of investment in commercial assets. “You get to play the property market without development risks; Reits offer high liquidity which is not there in the real estate markets and offer an income-play like bonds.” Tata Sons-owned TRIL, an advisor to realty fund Tata Realty Initiatives Fund (TRIF-1), is also looking at floating a Reit here, as well as in Singapore, over a period of time.

“The legislation (on Reits) offers good options for developers like us who have large income-generating assets. It is a good platform for exits. We believe Reits will be realty in India in the next one year, when we will list our own Reit here,” TRIL managing director Sanjay Ubale had told Business Standard recently. “Three-four years down the line, we will look at floating a Reit in Singapore,” he had said. TRIF-1 has a corpus of $750 million and owns around 90 per cent stakes in the company’s mall projects in Amritsar and Nagpur, among others. According to sources, US-based Blackstone has also started doing the spadework to launch Reits here. Blackstone is the most-aggressive investor in commercial properties in India. It has invested about $1 billion in Indian commercial properties, mostly in IT parks and special economic zones, since 2011. Some of its major investments include a $149-million investment in DLF Akruti Info Parks in Pune and $200 million in the properties of Embassy Property Developments. The flip side Going by the pragmatic approach, SEBI has given a lot of emphasis on transparency and disclosures According to Bhairav Dalal, associate director, PwC India, “The good news is that the regulator has clearly expressed its willingness to kick-start REITs in India at the earliest. The cautious approach adopted by Sebi during this initial period is acceptable and appreciable. One concern is with regards to the strengthening of our legal framework surrounding real estate in India, which is a pre-requisite for REITs to thrive here. One of the basic premises of the draft Reit regulations is the need to provide an exit avenue and liquidity. However, the definition of "real estate" seems rather constricted. The definition of "real estate" or "property" should be broadened to include all commercial and residential property and completed infrastructure assets such as roads and highways that have a regular income flow. The Real Estate Regulatory Bill, which was approved by the Union Cabinet in June 2013, was therefore a move in the right direction,” said Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India.

Talking on the commercial viability, of the premise that the draft Reit regulations provides that a Reit cannot undertake an initial public offer without the prescribed minimum asset value, she says, Our lawmakers should amend this requirement and may consider a requirement to have the initial portfolio identified and tied in by way of definitive documents prior to the initial public offer and offering proceeds can be utilised to purchase the assets.

Unveiling the underlying policy marshland for REITs, Geeta Dhania, Managing associate, Luthra & Luthra Law Offices, says the sponsor eligibility condition of five years' experience in the real estate industry on an individual basis should be widened to enable non-core real estate players likehotels, hospitals and other corporate houses with real estate to participate in Reits as well. PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 33

property wise

Retail In Asia - Different Strokes For Different Folks Consumers in India, China and other emerging nations are curious and want to explore new brands

ifferent Asian countries are at different stages of development of infrastructure, logistics capability and general real estate market development. Retailers are prevailed upon to tailor their local market strategies according to factors such as real estate locations, price points and available logistics. Such issues do not, as a rule, exist in developed world. The characteristics of Asian consumers that make them different from consumers in developed markets are also noteworthy. To begin with, most Asian populations are witnessing rising incomes. This makes them prone to higher spending impulses than consumers in the West, who are currently in belt-tightening mode. Also, consumers in India, China and other emerging nations are curious and want to explore new brands. Consumption of high-value items and luxury products is rising. Simultaneously, the Asian consumer at all times keeps an eye on the affordability of products. This is a seemingly paradoxical approach for retail brands that are used to the blacks and whites of spending patterns in developed countries. They are often not sure how to position themselves in markets where domestic alternatives to their luxury items are available and also accepted. Some interesting variants to the retail story in Asia: • Local Partner Selection: International retailers are deploying a variety of strategies when entering Asian markets. These

34 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India

strategies range from emphasis on Internet marketing and sales to adapting stores and specific products to fit in with local cultures. Local, home-grown luxury brands seek international capital and expertise, while global luxury brands are keen to appeal to local tastes. Thus, partnerships between the two become common. • Local Strategy: In order to be effective in Asia, international retail strategies require to be customized to the nuances of the local market. There are a number of nuances to be accounted for, including the securing of top real estate locations at accurate price points and good supply chain management. • Product Lines: Product lines are more or less the same, considering the inherent clout many well-known brands wield in their particular segments. What differ are the finer elements of product – product superiority (in the case of electronic gadgets), product size (in the case of apparels and accessories, depending upon the average build of people in a specific geography), product pricing (depending upon cost structure in the local markets and other business risks involved), product choices specific to specific climatic conditions, and so on. • Product Differentiation: In Asian countries, international retailers that have displayed little or no disparity in price, product and service from country to country have outperformed peers that lack that same consistency. Zara and H&M are good examples of such retailers, and they do very well. They have a high luxury brand presence internationally, and the fact that there is little brand dilution when going cross-border has proved to be a winning strategy for them.

• Brand Awareness And Recognition: The success of international retail and restaurant-chain expansion often depends on brand recognition. For instance, in Singapore there is high recognition of American and Japanese brands due to education, travel and popular culture. In countries such as China, the upper-middle income group is showing an increasing preference for popular Western brands. • Curiosity: It would not be inappropriate to say that Chinese and Indian consumers display an almost child-like eagerness to try new things and explore new facets of their identities. Therefore, they are low on brand loyalty. This is good news for several domestic and international retailers who want to set up base in these countries. However, several international retailers also have to grapple with this limited brand-consciousness in countries such as India, and could only hope that the trend changes in their favour over time. • Entry & Location Strategy: In the West, entry and location strategy is more oriented towards establishing the suitability of the product to a particular population at a certain location. This is possible because demographic data and digitized real estate landscaping is readily available in developed markets. Emerging markets are less organised, and therefore international retailers need to begin by studying the demographics of each market cluster separately. The rising importance of focusing on the correct residential cluster to target cannot be underestimated - there is a deep requirement of adequate market research at the core. • Store Sizes: Depending upon the depth of product offerings for a particular market, store sizes also differ. For instance, Marks & Spencer would probably need a 20,000 sq. ft. space in the UK at a minimum, as it offers diverse product categories in that market. However, in Asian countries where it will invariably carry a more limited range of product offerings, it would not need more than approximately 5000-6000 sq. ft. of space. • Operational Efficiency Vs. Omni-Presence: The Big Bang expansion plans of international retailers into fast-growing emerging markets may not fructify at this moment because of investment capital constraints (as is to be expected in a scenario wherein business in home country is weak). WalMart, for instance, said in 2012 that it will slow down launches of new stores in China and other Asian markets, thereby indicating a greater focus on operational efficiency. • Innovative Strategies: Fashion apparel is one of the segments that is witnessing enormous growth in Asian markets. It is geared towards a young population with rising incomes, yet

a determined focus on affordability. Thus, many international and domestic retailers have come up with 'fast fashion' to bring affordably-priced apparel to the market in quick cycles. These retailers are also facing stiff competition from Asia’s local players, who have long-standing strength in textiles, an understanding of local tastes and established local distribution networks. • Private Labels Goods: In India, big retailers have been active in introducing private label products, which now account for 20-25% of the profits for most. To cater to needs of valueconscious consumers, private labels can also fill a void in markets such as India where many categories of goods are still under-developed. Private labels have a much lower share of supermarkets sales in Asia than in developed countries, ranging from less than 1% in Indonesia to between 1.5%-30% in Thailand, Hong Kong, Malaysia, South Korea, Singapore and Taiwan (as per L.E.K. Consulting). Euromonitor research shows that in India, this share is close to 11% and 4% in China. Initially, some consumers show suspicion while buying private labels. To overcome this suspicion, retailers are resorting to upgrading packaging, competitive pricing and promoting their international affiliation. All in all, private labels have a bright future in India. According to AC Nielsen, private labels will sell around 5 times more in India by 2015 as against the annual USD 100 million turnover being seen today.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 35

property wise

Delayed Projects Plague NCRâ&#x20AC;&#x2122;s Residential Market Santhosh Kumar, CEO - Operations, Jones Lang LaSalle India

36 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

elayed delivery of residential projects has become a significant issue on the real estate market, leading to high levels of ire among customers. In terms of the average delay in delivering residential projects across India, more than 25% of the committed supply has not been able to hit the market as per schedule. The National Capital Region’s performance in terms of delivery of residential supply due in 2013 has been the worst across all the major Indian cities. In Gurgaon, only one-third of the total committed supply for 2013 has been delivered so far. The situation has been even more alarming in other NCR regions such as Noida, where only about one-fifth of the residential supply committed for delivery in 2013 has been delivered so far. In the West, Pune and Mumbai have shown a much better performance in terms of project completions - these cities could deliver more than 40% of the committed supply of 2013 as per scheduled delivery. With delivery delays, inventory levels across India have risen significantly. The Pan India inventory of residential stock is now well above the comfort level of 14-15 months. Mumbai has an inventory of close to 48 months, Delhi of 23 months and Bangalore of 25 months. These are close to the levels of 2007, when the residential real estate market's inventories were at an all-time high. Why Project Delays Occur The issues leading to residential project delivery delays are manifold. Poor project management is often one of them, but this is not essentially the prime reason. In fact, it is the current economic scenario - defined by high levels of inflation and escalating construction costs - that is the leading reason for delayed projects. Developers are facing a severe liquidity crisis and do not have the capital to complete their projects. However, there are also other factors at play. One of these often is nothing more than a lack of commitment to timely completion and delivery on the part of a developer. We are currently looking at an environment wherein developers are obsessed with launching new projects rather than making the completion of existing projects a priority. There have been many instances where funds that were raised for a particular project were diverted for uses other than expediting the completion of projects under construction. Delay in regulatory clearances is another critical reason for delays in project deliveries. In many cases of delayed projects in

Delhi NCR, the water and sand crises as well as environmental regulations which developers have not been able to meet have played a role. In quite a few projects, the lag caused by various bureaucratic processes has also been an operative factor in delayed project clearances. There is no doubt that the new regulations pertaining to land acquisition have thrown a rather massive spanner in the works. In the NCR region, a significant number of residential projects in areas such as Noida have been delayed because of disputes with regards to land acquisition. Advice For Property Buyers In the current scenario, the secondary market seems to be a more promising avenue for end-user buyers, as they can get better price points there. However, transactions on the secondary market often require buyers to have higher initial liquidity so as to be able to meet the immediate capital requirements. Also, in many of the projects, developers have put in prohibitive measures such as high transfer charges before the completion of the project. In such cases, the valuation might also not be very attractive at all. Nevertheless, developers are feeling lot of financial pain and are now offering attractive construction-linked and payment plans, with the bulk of the payment phased towards the time of possession. These plans allow buyers with limited liquidity to proceed with the purchase. Also, CLPs mean that buyers have reduced exposure to the risk of delays. We expect that in the ensuing two quarters, developers will come out with more incentives and discounts to attract buyers. In other words, the primary market will continue to maintain its appeal. Buyers are, as always, advised to do a complete and thorough due diligence of the credibility of any developer they seek to deal with. Especially in the current scenario, the delivery track record for previous projects is a vitally important guideline for investment in the primary market.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 37

property wise

Top realty destinations to invest in near metro cities With improving connectivity, expanding cities and rising property prices, more and more home buyers are looking at places close to metro cities. Developers are also betting big on such locations.

uy a home for yourself this year. That's the message of Union Budget 2013-14. The Budget has announced an additional tax deduction of Rs 1 lakh for those taking a loan up to Rs 25 lakh to buy their first home this financial year.

If you find the bait attractive enough, the Rs 25-lakh loan cap and high property prices mean you have limited options if you cannot make a big down-payment. One option is buying a house at places not far from metro cities where prices are on the lower side. Even if you don't want to move away from the

38 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

main city, the high returns that some of these new locations promise means the house can be used as a bridge to the one that you want to live in. THE ALTERNATIVES With improving connectivity, expanding cities and rising property prices, more and more home buyers are looking at places close to metro cities. Developers are also betting big on such locations. Some emerging locations are Manesar (Haryana), Neemrana

(Rajasthan), Narela (Delhi), Dharuhera (Haryana), Bhiwadi (Rajasthan), Yelahanka (Karnataka) and Ranjanapada (Maharashtra). Knight Frank India, a property consultancy, listed Manesar, Neemrana, Narela, Yelahanka and Ranjanapada as "hidden gems" in a report released towards the end of last year. "Buying property in a location that is well-connected and an upcoming industrial hub is apt not only from the end-user point of view but also from the investment point of view," says PS Jayakumar, managing director of Value and Budget Housing Corporation (VBHC), a Bangalorebased developer with focus on low-cost homes.

will take to build the industrial corridor, both locations will offer lucrative returns," says Raj Sharma, managing director, BestPropertyDeals.co.in, a brokerage website. Most buyers in these locations are not end-users. "Only 20-25 per cent houses launched there have been bought by endusers. The target group is people living on rent in Gurgaon," says Sharma. Developers say the demand in huge. "Since 1993, we (Ashiana Housing) have delivered around 4,000 homes in Bhiwadi. We see a lot of interest in the future as more employment is created in the area," says Gupta.

"The Delhi-National Capital Region (Delhi-NCR) should be a good bet, but buyers need to be aware of two situations-one, economic development in the area and, two, rise in inventory with a large number of new properties getting ready," says Ankur Gupta, joint managing director of Delhi-based Ashiana Housing.

Bangalore-based VBHC entered the north Indian market with a township in Bhiwadi. "Nowadays, people are inclined towards industrial areas such as Bhiwadi due to the fast pace of price rise. Our assessment suggested that Bhiwadi would be the preferred location for investors. The response from buyers confirmed this," says Jayakumar.

To attract both investors and first-time buyers, developers are offering properties in a number of destinations close to metro cities. Some of these are likely toÂ give good returns over the yearsÂ .

"One can expect an appreciation of 60 per cent in the next two years. By the time the project is ready for possession, the price would have doubled," says Sharma.

BHIWADI & DHARUHERA Bhiwadi and Dharuhera are well-connected with Gurgaon and Delhi through National Highway 8. These are at a distance of around six km from each other. "I will take Bhiwadi and Dharuhera as one region. These have become industry hubs on the Delhi-Mumbai Industrial Corridor (DMIC). Companies such as Honda, Gillette and Lafarge have set up plants there and many others are considering expansion (there). Infrastructure such as schools, malls and hospitals is coming up in a big way and will make life easier," says Gupta.

NEEMRANA Around 50 km from Dharuhera, it is emerging as an industrial hub. Neemrana, part of the NCR, does not have good connectivity. The National Highway 8 is the only major road linking it with Delhi. However, things should improve as it is a major node on the Dedicated Freight Corridor between Dadri (near Delhi) and the Jawaharlal Nehru Port Trust, Nhava Sheva (near Mumbai). It is also part of the DMIC project. One of the growth drivers for Neemrana is the Japanese Investment Zone where 2,500 acres have been allotted to Japanese companies.

The DMIC project aims to create new industrial centres in seven states-Delhi, Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra-through better rail and road connectivity. It is aligned with a proposed rail freight corridor between Delhi and Mumbai. In this year's Union Budget, the government has expressed willingness to provide additional funds for the project. The first phase is slated for completion in 2018.

At present, just a few established real estate players such as Eldeco are operational here. However, local players are offering plots and apartments citing proximity to the Neemrana Fort and the Japanese trade hub.

"Bhiwadi has properties priced between Rs 15 and Rs 70 lakh while properties in Dharuhera start from Rs 15 lakh and go up to Rs 1 crore and more. Depending upon the time it

A 40,000-acre Global City is also planned in the NeemranaBehror area for which land has already been designated. It will be able to house around one million people. Several

Neemrana is well-connected with the New Delhi international airport (around 105 km). An independent airport is also proposed to be built in the area.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 39

industrial zones and special economic zones such as the Export Promotion Industrial Park are also in the pipeline. "Neemrana should benefit immensely from the above factors and provide good returns over a 10-year horizon," according to the Knight Frank report mentioned earlier. MANESAR Located in south of Gurgaon, a New Delhi suburb, Manesar is emerging as an important industrial belt with Phase I of the Industrial Model Town already complete. The work on other phases is going on. Apart from manufacturing, Manesar is attracting information technology and related companies as well. The industrial town is expected to generate a large number of jobs, which will drive demand for residential properties. The Kundli-ManesarPalwal Expressway, though delayed, is expected to add to the demand. NARELA Narela in North-West Delhi is on the capital's border with Haryana. It was planned as a sub-city by the Delhi Development Authority after Rohini and Dwarka. The area lags in connectivity. This should cease once the Delhi Metro extends an existing line till Narela, providing a direct link to Gurgaon through Delhi. Apart from the metro, it is expected to benefit from the Kundli-Manesar-Palwal Expressway, which is just 10 km away. A freight complex (392 hectares) is proposed to be built in Narela. Bawana, a small town 10 km away, is also seeing a lot of industrial development. RANJANPADA Mumbai property prices can scare away those with small budgets. Such people can bet on Ranjanpada in Navi Mumbai. At present, the Jawaharlal Nehru Port Trust (JNPT) is the main driver of real estate trends here. Ranjanpada is just 15 km from the Belapur business hub in Navi Mumbai. It is 22 km and 28 km from Vashi (Mumbai) and Airoli (a Navi Mumbai suburb), respectively. Though it is not very far from important employment centres, absence of a proper transport system makes commuting difficult. The JNPT Road is its only link with the other regions. An underconstruction Nerul-Seawood-Uran rail line, which is expected to be completed in 2016, will improve connectivity with the rest of Navi Mumbai and Mumbai.

40 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Ranjanpada will also benefit from the Mumbai Trans Harbour Link connecting Navi Mumbai and Mumbai. The work on the link is expected to be commissioned in 2013. This sea bridge will drastically reduce travel time between Ranjanpada and South Mumbai business locations such as Nariman Point and Colaba. YELAHANKA The Bangalore international airport near Devanhalli has been a game changer for the nearby areas. Yelahanka, 19 km from the airport, is also expected to benefit from the development. It is further north of Hebbal, which has emerged as an information technology hub and expected to grow further. After the airport came up, property prices in Yelahanka rose swiftly. At present, the area lacks quality civic facilities. However, it has good connectivity with Bangalore's city centre. Several road and rail links, including a commuter rail between Devanahalli and Yeshvantpur via Yelahanka, should improve connectivity. The Karnataka government has formed a body to promote development in the region and develop North Bangalore as a business hub. With multiple projects and proposals, 40 lakh jobs can be generated in the region over the next two decades, say experts. "Yelahanka's eventual evolution as a peripheral business district will give birth to a thriving residential real estate destination," says Knight Frank.

Contributed by: Monika Tandon

DOCUMENTS CHECK LIST FOR HOME LOANS Salaried Customers

Self-employed Professionals

Self-employed Non-professionals

Salaried NRIs

Self-employed NRIs

Application form with Photograph duly signed by all applicants

Application form with Application form with Photograph duly signed by Photograph duly signed by all applicants all applicants

Application form with Photograph duly signed by all applicants

Identity, Residence and age proof

Copy of valid passport showing visa stamps

Copy of Passport along with valid visa stamp

PAN Card copy of the main applicant

Copy of valid visa / work/ permit/equivalent document Supporting NRI Status of the Proposed account holder

Trade license or equivalent document

Last three Months Salary Slip

Education qualification certificate and proof of business existence

Proof of business existence

Latest contract copy evidencing salary/salary certificate / wage slips

Computation of income, P & L account and Balance Sheet for last three years Certified by the CA/CPA, or Any other relevant authority (or equivalent company accounts)

Form 16/ Income Tax Returns

Last three year’s income tax Returns with income computation

Business Profile

Overseas bank account Statement

Six months overseas bank account statements and Nre/Nro account

Last Six month’s bank statements

Last three year’s CA-certified / audited balance sheet and profit & loss account

Last three years’ income tax returns with income computation Last three years’ CA-certified / audited balance sheet and profit & loss account Processing fee Cheque

Last Six month’s bank statements

Last Six month’s bank statements (Self and business)

Processing fee Cheque

Note :- The above mentioned list of documents are inclusive and not exhaustive. The Bank / Financial Institutions may ask for any additional documents / information on case to case basis at their discretion.

property wise

Most Expensive Streets across the World (2013) Hong Kong’s Causeway Bay has emerged as the world’s most expensive retail location, followed by New York’s 5th Avenue

elhi’s Khan Market is India’s costliest retail market. National capital’s tony Khan Market is the most expensive retail market in the country even though its ranking worldwide has dropped two places to 28. Monthly rentals at Khan Market stood at Rs 1,250 per sq ft as of June, 2013, up by just 2 per cent from the year-ago period, according to global property consultant Cushman and Wakefield’s (C&W) report ‘Main Streets across the World 2013.When it comes to rental appreciation, Panjagutta in Hyderabad with 29 per cent growth is placed 8th in the list of global rental movement ranking of 2013. South Extension in New Delhi is at 17th position with an annual rental growth of 20 per cent. Kutuzovsky Prospekt in Moscow recorded the highest rental growth of 42 per cent. 42 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Hong Kong’s Causeway

“In the global ranking of most expensive retail locations, Khan Market in New Delhi emerged as the 28th most expensive in the world, retaining its position as most expensive retail location in India,” C&W said.“India (Khan Market) however, dropped in the global ranking from 26th to 28th position due to the weakening of the Indian rupee against US dollar and largely stable rentals with limited increment in rental values in established retailing sectors,” it added. Hong Kong’s Causeway Bay has emerged as the world’s most expensive retail location, followed by New York’s 5th Avenue, as per the report that ranks the most expensive locations in the top 334 shopping destinations across 64 countries. Avenue des Champs Elysees in Paris is ranked third, while New Bond Street in London, Ginza in Tokyo are at 4th and 5th

places respectively. Khan Market witnessed high demand from retailers but due to limited availability and transactions, rental values have only seen a marginal increase, it said.

locations will continue. However, limited supply and higher rental costswill create obstacles for some brands, leading a number of retailers to look at alternative locations in close proximity to the main thoroughfares,” he added.

Commenting on the report, C&W executive managing director South Asia Sanjay Dutt said: “While retail rentals globally registered a slower growth of 3.2 per cent as compared to previous year on account of slowdown in economic uncertainties in the leading markets, the Asian markets saw a better average of rental increase at 4.5 per cent in the same period.”

On Indian retail locations, Mumbai’s Linking Road (Rs 750/ sq ft/month) emerged as the second most expensive retail location in the country despite a correction of 11.8 per cent in rental over last year. Connaught Place and South Extension are third and fourth positions with a rental of Rs 725 per sq ft in a month.

The economic risk remains for 2014, but conditions are expected to steadily improve across most markets, he said. “The retailers’ push towards the best and most sought after

Khan Market in New Delhi

Bangalore’s Brigade road and Mumbai’s Linking Road stood at 6th and 11th positions respectively in the list of world’s top 15 markets to saw the sharpest retail rental decline.

New York’s 5th Avenue

property wise

Indian office space –a subdued sentiment Witness 14% decline in office space absorption

ndia is faced with an intimidating macro-economic landscape comprising of an escalating current account deficit, slowing economic growth and persistent inflationary trends. The economic growth slipped to 4.4% (its slowest pace in the last four years) during the April-June period compared to 4.8% growth registered in the preceding three months. In this light the corporate office occupiers have remained cautious amid a subdued economic outlook, a trend that has continued to inhibit office-leasing activity across the country. According to the report, India Office Market View by CBRE, an international real estate consultancy, the office space absorption in the top seven cities of the country has declined by 14% q-o-q in Q3, registering around 6 million sq.ft as

44 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

compared to around 7 million sq.ft in the previous quarter. These cities are Delhi NCR, Hyderabad, Mumbai, Chennai, Pune, Bangalore and Kolkatta. Looking at optimizing portfolio, rather downsizing in certain instances, corporate occupiers’ demand has weakened. “A sluggish global economy, a substantial drop in India’s GDP growth, uncertainty, volatile currency, high interest rates, etc. have been a deterrent for corporate growth and expansion. The has resulted in declining office absorption across the key metros in the country.” says, Anshuman Magazine, Chairman and Managing Director, CBRE South Asia Pvt. Ltd. The July–September period had witnessed the lowest addition of office space over the past several quarters, largely due to

prevailing high vacancy pressures in completed projects and poor commitment levels in under-construction properties. Less than 3 million sq.ft. of office space had been completed in the given quarter—a drop of about 76% q-o-q, as compared to around 10 million sq.ft. in 2nd quarter. Mumbai led project completions, followed by the NCR, Bangalore and Hyderabad, representing about 88% of the entire supply added during the quarter. The National Capital Region (NCR), Mumbai and Bangalore, dominated the transaction activity each recording more than 1 million sq.ft. office space leasing. Gurgaon in the NCR; Lower Parel, Andheri, Goregaon and Navi Mumbai in Mumbai; and the Outer Ring Road in Bangalore, have emerged as the most preferred micro-markets for office space leasing. However, rental values have remained largely stable as occupiers faced cost pressures, and consolidation continued to be the key theme. Owing to increased occupier interest in leading Grade A properties, marginal appreciation to the tune of 2–3% has been observed in the Central Business Districts of Delhi, Bangalore, Chennai and Pune.

Interestingly, Mumbai’s Nariman Point and Bandra Kurla Complex have been the only micro-markets that have seen a marginal rental drop, owing to sluggish demand and a preference for the city’s cost-effective peripheral locations. Looking the current scenario, occupiers are likely to remain cautious, owing to uncertain global and local economic sentiments, with their focus firmly on cost savings through efficient space utilization, and consolidation/relocation to peripheral markets. Given the prevailing weak sentiments, occupiers will continue to hold strong leverage in the office leasing market. This is expected to benefit corporates looking at renewing or restructuring leases in the short to medium term. Owing to upcoming expectations of a large supply addition, rental and capital values are likely to remain under pressure in most micro-markets in the short to medium term. To top it all, where, the appointment of the new governor of the Reserve Bank of India (RBI) was being seen as an encouraging development, the raise in repo rates by 25 basis points during its quarterly monetary review in September rather came as a dampener for investor sentiments in the real estate sector.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 45

property wise

Real Estate Investment Advice: Bungalows Versus Flats

46 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

ssuming that one has the financial wherewithal for this to be an option at all, the question of whether to invest in a bungalow or a flat is indeed pertinent. As always, location plays an important role. In an established area of a large city like Pune, a bungalow costs a lot more than a flat. This means that the rental market for such a property shrinks proportionately. However, the income segment that remains can definitely afford to rent such a unit, so demand would remain more or less consistent. Moreover, bungalows in established locations have a high chance of attracting long-term corporate leases. • Bungalows – Established Vs. Upcoming Locations Investing in a bungalow in an upcoming location usually involves a lower (though still sizeable) capital investment. The rental yield is lower, but the size of the rental market for such a property increases proportionately. Investment in a bungalow in such a location can make a lot of sense if the area, despite being non-prime, is still well-connected to some of the city’s major economic drivers, such the airport or employment hubs such as IT parks and manufacturing zones. One major advantage of investing in a bungalow in an upcoming location is that it will gain steadily in value as the area’s profiling in terms of social and civic infrastructure improves. However, regardless of location, the maintenance costs and property taxes involved in a bungalow are a lot higher than those of flats. This long-term financial implication must necessarily be factored while investment in a bungalow is considered. • Share Of Land If we set the considerations of location, ticket size and potential rental yield aside, the primary advantage of investing in a bungalow rather than a flat is that one secures more land. In any location, it is the value of land which determines the value of built-up property. Unlike a flat, a bungalow and its compound lock in a significant piece of tangible land. This fact gives a bungalow a higher value in real estate terms. Also, the investor must have a suitably long investment horizon and not be looking for short-term returns. • Investing In Flats Flats offer a slightly different value proposition than standalone units such as bungalows. In the first place, the share of land that is legally allotted to each flat in a project is much lower than that of a bungalow. The primary value of a flat lies in the space that it occupies, which is why larger configurations such as 3 and 4 BHK attract higher rents. As before, location will dictate the ticket size as well as rental income. The rental market for flats is much larger than that

Arvind Jain, Managing Director – Pride Group

of bungalows, so finding tenants is easier even if one factors in a certain degree of tenant churn. However, one must ensure that one is investing in a flat whose size dovetails with the median income profile of the location. The highest demand will always be from the locality itself, and from people working in offices and

industries close to the area. Buying a flat whose size puts it out of the largest local demand profile can be a self-defeating and costly mistake. Generally, the 1, 2 and 2.5 BHK configurations are the safest investment bet in any area, since the rental demand for them is always the highest. With ultra-premium flats as a logical exception, maintenance and property tax for apartments is significantly lower than for bungalows. • Flats – Established Vs. Upcoming Locations In terms of location, investors into flats must consider all the pertinent factors carefully. Flats in established locations are costlier and involve a higher capital expense. They will attract rental interest from a segment of higher economic profile. However, it must be borne in mind that capital appreciation of flats in centrally located projects is slower than in many upcoming areas. This is because high-end locations tend to hit an appreciation plateau, which can persist for long periods. Upcoming locations appreciate faster because their market viability is being enhanced with increasing accessibility as well as social and civic infrastructure. They attract more people, since any city’s growing population tends to move into areas which are affordable. For that reason, emerging locations also tend to attract a lot of commercial establishments – which further boosts the residential segment. To ensure that growth factors such as assured infrastructure and social amenities are indeed locked into place, investors into apartments should ensure that they choose projects that fall within the local municipal limits. If a project falls outside the city's corporation limits, there is no guarantee that the location will receive proper infrastructure such as roads and regular water and electricity supply. Without such infrastructure, a location does not appreciate – thereby rendering it unsuitable for smart property investment. PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 47

98726-35220, 98156-01347

property wise Ahmedabad

Iscon Platinum By: J P Iscon Limited

September 2013

CARE Assigns “NCR 6-Star” Rating to Iscon Platinum Iscon Platinum by JP Iscon Limited by JP Iscon Limited

Ahmedabad

Iscon Platinum By: J P Iscon Limited

Iscon Platinu

by JP Iscon Li

Project Star Rating Rationale

satisfactory track record of executing several projects of the group. JPIL has appointed reputed architect and structural consultants of Ahmedabad for the development of the • Project developer quality project. The project proposes to house adequate amenities Iscon Platinum, a high-ranged lifestyle residential project, Rated(JPIL). Ahmedabad byrecreational CARE Ratings and facilities including garden, children play is being developed by JP Iscon Limited JPIL is the6-Star area, swimming pool, indoor & outdoor gaming facilities, etc. flagship company of the Ahmedabad-based ISCON group, which has a long track record of executing real estate projects across a wide range of segments, viz, residential, commercial and retail space across Gujarat. The group has completed 18 projects covering an area development of about 39 lakh square feet (lsf) since the year 2000. Apart from Iscon Platinum, JPIL has three ongoing projects consisting of a total developable area of about 12.42 lsf. Over the years, the group has created the brand ‘ISCON’ which is one of the reputed and trusted brands in the real estate development business in Ahmedabad. • Project construction quality and amenities The project is situated at Bopal on the 200 feet Sardar Patel ring road, which is amongst one of the major developing localities in Ahmedabad. The civil construction work of the project is undertaken by the in-house team of JPIL, which has

• Project legal quality The land title of theAhmedabad project land area of about 3.79 Ratings lsf is Rated 6-Star by CARE clear and marketable as per the title search carried out for 30 years (title search was done by Mr Pratik Ramlal Jani). Besides, the project has received all clearances required for the execution from the respective government authorities for the construction of 12 towers (A to L) of the project. • Project financial quality The project cost was originally proposed to be funded through a mix of customer advances of Rs.100 crore, bank loan of Rs.70 crore and the balance from the promoters. Since the company has received higher than envisaged customer advances (Rs.140.70 crore) during the

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 49

Project Profile Project Name

Iscon Platinum

Project Type Residential Project Location

Bopal, Ahmedabad

Development Type

Bought Out

Project Start Date

June 2011

Physical Construction Completion Date

September 2014

Agreed upon Possession to the customer As per management, the project is to be handed over by September Total Saleable Area

13.14 lsf having 472 residential apartments spread across 12 buildings

Construction Status

The construction work for the project is at an advanced stage (59% of the construction cost incurred) with super-structure work of 10 out of 12 the blocks completed. Work related to flooring and plaster for the 10 blocks is being carried out currently. The construction of super-structure of the remaining two blocks is under progress.

Project Developer Profile Name of the company developing the project

JP Iscon Limited

Project developer group

Iscon Platinum

Development Experience of the developer group 13 years No. of years in the industry

13 years

No. of projects developed till date

Total Area developed till date

40 lsf

No. of projects ongoing

Four (25.56 lsf of saleable area)

Project Developer JPIL is promoted by Mr Pravin Kotak along with Mr Jayesh Kotak, Mr Jateen Gupta and Mr Amit Gupta, who founded the group in the year 2000. Mr Pravin Kotak possesses rich industry experience of more than three decades and other promoters also have more than a decade long experience in the real estate industry. The group has been in the Ahmedabad real estate market for the last 13 years and is popularly known as ‘ISCON’. As on June 30, 2013, the group has completed 18 projects consisting of commercial and residential schemes covering an area development of about 39 lsf. Apart from Iscon Platinum, JPIL has three ongoing projects, which consist of the total developable area of about 12.42 lsf. The group’s entire development portfolio is located in Gujarat which gives it an advantage in terms of reasonable business network and understanding of the real estate market in Gujarat. Project Details The project is situated at Bopal on the 200 feet Sardar Patel 50 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

ring road, which is amongst one of the major developing localities in Ahmedabad. The project has good connectivity and is only a kilometer (km) away from the highly successful mass transit system in Ahmedabad, ie, Bus Rapid Transit System (BRTS). The Ahmedabad railway station and airport is at a distance of approximately 16 km and 21 km, respectively from the project location. The project is in close vicinity of SG Highway, which has many elite localities situated on either side of it. Reputed schools, shopping malls, restaurants, hotels, banks, fuel stations and hospitals are within 5 km radius of the project. The project is designed to provide a luxurious lifestyle living. Iscon Platinum consists of total 472 residential units distributed across eight buildings with 12 storied blocks and four buildings with 11 storied blocks. The project proposes to provide facilities and amenities such as provision of 24/7 professional security with closed-circuit television (CCTV) surveillance, video phones in each apartment, power back-up in common areas, garden, gymnasium, indoor-outdoor sports facilities, allotted car parking and many other amenities.

Highlights of the Project • Sports amenities: walking track, tennis court, squash court, basketball court, volleyball court, cricket pitch, skating rink, etc • 24/7 CCTV surveillance and video phone in every flat • Gymnasium and spa • Swimming pool • Library • Garden with children play area • Medical care centre • Garbage room • Two car parking spaces per apartment (one covered parking in basement and one on ground floor) Construction status of the project The project uses column footing foundation in all the blocks, wherein the construction and the excavation work is carried out 7.2 meters into the earth (3.2 meters basement plus 4 meters into the earth from the basement) where it found hard strata. The superstructure has been completed for 10 blocks. The construction of two blocks, ie, block C and D commenced from February 2013, in order to facilitate the efficient movement of man and material and provide adequate space for the storage of project specific raw material. In case of common amenities, a clubhouse, swimming pool and playing area is under construction. Brief particulars about various contractors is as follows – 1. Architects Placekinesis Associates, based in Ahmedabad, is amongst the renowned architectural consultants in Ahmedabad. The consultants have been associated with many well-known residential as well as commercial projects. They have been associated with JPIL for the last seven years. 2. Structural consultants Ducon Consultants and Achal Parikh Structural Engineers have been appointed as the structural consultants for the project. They have been associated with JPIL since more than 10 years and have worked on various projects of JPIL in the past. 3. Civil Engineers The civil construction is done by JPIL’s in-house team and the execution is overseen by Mr Nilesh Desai, Chief Civil Engineer for the group. Project legal status  The title search has been carried out by Mr Pratik Ramlal Jani vide the report dated August 3, 2011, for the entire piece of land admeasuring 35,208 square meters for the last 30 years. The title of land is clear and marketable. The solicitor

opines that the land is free from any charge or encumbrances. • The draft agreement to sale is elaborate and contains details related to the carpet area, saleable area and specifications; however, it does not mention a fix date of possession. It specifies a penal clause for the delays in payment by the buyer but it has no specific penal clause for the delays in project execution by the developer. Furthermore, the agreement does not cover in-detail the obligations of the developer, clause for liquidated damages, etc. Project Financial Status • The total project cost of Rs.273.22 crore was envisaged to be funded by way of promoter funds of Rs.103.22 crore, bank debt of Rs.70 crore and the balance from customer advances. • As on May 31, 2013, the project has already incurred Rs.90.01 crore towards the land cost and Rs.102.38 crore towards the construction cost and other expenses, which is funded through bank debt of Rs.45 crore, customer advances of Rs.140.70 crore and the balance Rs.6.69 crore via sundry creditors. Up to May 31, 2013, the company has received bookings of 422 units out of total 472 units; this exhibits a comfortable unit booking status. Also, it has received comfortable payment against booked units which is expected to facilitate the timely completion of the project.

About CARE Credit Analysis & Research Ltd. (CARE) was promoted in 1993 by some of the leading Indian banks and financial institutions. Major shareholders of CARE include IDBI Bank, Canara Bank and State Bank of India. CARE is amongst the premier credit rating agencies in India and provides credit rating, research and information services. CARE Ratings is well equipped to rate all types of debt instruments including Commercial Papers, Fixed Deposits, Bonds, Debentures, Hybrid Instruments, Preference Shares, Loans, Structured Obligations, Asset Backed Securities, Residential Mortgage Backed Securities etc. CARE’s rating methodologies are in line with the best international practices. Disclaimer CARE’s star rating of real estate projects is an opinion on the developer’s ability to execute the real estate project in timely manner and with the agreed upon quality standards. Besides, it is an opinion of the legal quality of the project. The analysis draws heavily from the information provided by the developer and information obtained from sources believed by CARE to be accurate. However, CARE does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Also, CARE does not guarantee the adequacy of title search done to arrive at the legal quality of the project. CARE’s Real Estate Star rating is also not a recommendation to buy, sell or hold the rated real estate property. CARE shall also not be liable for any losses incurred by users from any use of such rating. Most of the developers whose real estate projects are star rated by CARE have paid a rating fee.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 51

be a prosperity seeker

Bharat Ratna - Sachin Tendulkar

1240 Crores For Indian Techie

The legendary cricketer, Sachin Tendulkar will be conferred with Bharat Ratna. Sachin, who played his final innings in cricket, at Wankhede Stadium Mumbai in Nov 2013, will be the first sportsperson to be honoured with the award. "I dedicate this to my mother," he reportedly said. Tendulkar is the seventh Maharashtrian to win Bharat Ratna after Dhondo Karve, Pandurang Kane, Vinoba Bhave, BR Ambedkar, Lata Mangeshkar and Bhimsen Joshi. The decision to honour Tendulkar comes after several noted personalities had voiced their support. Lata was the latest to say that Tendulkar deserved Bharat Ratna. "Whatever he (Sachin) has done for the country, very few people can. He deserves the honour. He has made all of us proud," Lata had told television channels.

Apple has bought Topsy Labs in a deal that will provide the iPhone maker with more insights about the chatter on Twitter. Topsy was co-founded in 2007 by Vipul Ved Prakash, Rishab Aiyer Ghosh (another techie of Indian-origin). Topsy pores through the stream of conversations occurring on Twitter to identify trends and people influencing public opinion. The San Francisco startup also runs a free search engine that boasts an index of every tweet posted since 2006, a resource that's not publicly available on Twitter's own online messaging service. Vipul Ved Prakash a a drop out of Delhi University cofounded Sense/Net, one of India’s first privately owned Internet service providers, but soon encountered the scourge of spam. So Prakash developed Vipul’s Razor, a spam-fighting, open source software tool available online.

52 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

name, fame, money, social work… know what gives you a kick!

Triumph Bonneville Now in India The Bonneville is the legendary motorcycle from the British motorcycle maker -Triumph and the good news is that it has hit the Indian shores in November 2013 along with rest of the lineup. This motorcycle is named after the famous American record holding ground, Bonneville Salt Flats. The Bonneville was first introduced in 1959 and since then the motorcycle has gone through many mechanical and cosmetic changes, but one thing that hasn’t change - its traditional design and classic nature. The Bonneville looks very classy and it is very unlikely the motorcycle will lose its iconic image. Keeping its classic design in mind, the company has decided to give it an analogue speedometer with odometer, clock and trip information. The standard Bonneville which will make its way to India doesn’t sport a tachometer but that won’t play ‘Not to buy’ reason for Indian buyers.

Film Actress Turned Social Activist Shabana Azmi become well-known for her long-time advocacy for the underprivileged. Her work includes advocating for the rights of minorities and women, and she has fought to raise social consciousness and elevate the conditions of slum-dwellers. She has also taken a strong position in the fight for AIDS victims. As a Rajya Sabha (Upper House) Member Of Parliament, she has taken a bold stand in defense of liberal values and the freedom of expression. Quote From A Recognized Leader for Women: “Time and again we women say we are different from men - not better not worse but different - and with this difference we need to be included in the global change that is taking place.”

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 53

quotemagic

The only disability in life is a bad attitude. -Scott Hamilton

54 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

quotemagic

Prosperity is a great teacher, adversity a greater. -William Hazlitt

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 55

prosperityseek

Premium Pools In Hot Demand For Luxury Homes

ccording to a recent Wealth Report (by KotakCrisil), for Indiaâ&#x20AC;&#x2122;s ultra-high net worth individualsâ&#x20AC;&#x2122; (those with a minimum average net worth of Rs 25 crore accumulated over the past 10 years) purchase of a luxury home is at a priority. In fact, data from the report shows they are more interested in concerns that offer exclusivity while adding a glamour factor to the house. A personal swimming pool is a must have for most of these ultra-HNIs. The need for qualified pool makers and operators has never been greater. In absence of guidelines and uniformity in the country, some serious players in the market are looking abroad

56 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

for inspiration and tying up with international concerns in various capacities. According to Mr.Vivek Mishra MD & Technical Head Premium Pools, "Interestingly, pools have undergone a major transformation. The market, though unregulated, is waking up to the fact that pools, just like any other vital feature of your dream home, need to be handled in a professional manner by the experts who specialize in offering the latest". The best part about accommodating pools in private houses is the flexibility of choice available along with best of aesthetics. Striking water features can be accommodated into your pool to trickle a wow effect with water.

One can have fountain bubblers that are hugely popular with kids and the best part is, these are fairly inexpensive. For better visual effects in the pool periphery, one can include simple to execute features like a deck jet throwing up water in graceful streams appearing magically from the deck. A captivating effect can be created by adding fibre optic light to provide colour to the water streams for your very own night time party /show. For a more playful effect, one can consider including water slides in the pool landscape to give you the feel of a water park in your backyard. Outdoor kitchens remain the most popular choice. These allow you to use the backyard space around your pool like an indoor living option. Before you can enjoy a beautiful new pool, there are three key stages of pool construction like excavation, plumbing and finishing. Proper plumbing design with planned flow rates for every pipe size ensures optimal water circulation that further takes care of water filtration as well.

with Earth Leakage Circuit Breakers (ELCBs) or RCCBs, which disconnect the feeders / MCB. The ELCBs / RCCBs ensure that any excess current or current leakage in any of the LED lights or wiring will be delivered to the earth fault, not allowing current to pass in the water. Mishra further adds, "Other than the conventional Olympic sized and diving pools, today we have the concept of customized pools where the length width and shape of the pool are dictated by the customer". Talking about pool maintenance, a well-designed, wellconstructed pool requires a minimum of upkeep cost: • You do not need to drain the water • You do not need to change the water • You do not need to fish out debris like leaves etc • You do not need complicated maintenance procedures Premium Pools claim that even if you lock up your property which has an open-air pool for a year and come back to it, all you need to do is switch on the systems of your pool. Within three days, you will have a clean, clear, safe and hygienic pool to swim in. Our clients did not believe us when we first told them this. Now they point it out proudly to their friends and associates.

Then comes the electrical system works. It is essential that underwater lighting for swimming pools should be equipped PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 57

home of the rich & famous

58 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Angelina Jolie & Brad Pitt Brad Pitt & Angelina Jolie Buy $16 Million London Dream Home

ctors Angelina Jolie and Brad Pitt have reportedly bought a house in Richmond, West London, for an amazing $16.18 million. The Hollywood superstars have taken the opportunity to buy the home, called Whornes Place, after having rented it for $50,000 a month last year.

in London for at least two years post marriage, as Jolie would be shooting three movies in Britain one after the other. Brad Pitt and Angelina Jolie have bought beachside property in Goleta, California for their brood of six. The bungalow-style home is set on acres of lush rolling country and fronted by a magnificent cliff-lined coastline with miles of secluded beach.

“They loved it when they were in the UK last year,” a source close to the couple told the newspaper. “They like the culture and are happy for their children to receive schooling here. They think Richmond is a beautiful part of the world.” The couple, along with their six children, has planned to stay

Beachside property in Goleta, California PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 59

amazing buildings

Wonder Works, a Top Pigeon Forge Attraction

onderWorks Pigeon Forge began as a Top Secret research laboratory on a remote island in the Bermuda Triangle. As legend has it, the world’s greatest scientists – led by Professor Wonder – were given the task of creating a man-made tornado and harnessing the POWER of it. During this experiment, something went awry and the power of the tornado was unleashed throughout the laboratory. This created a swirling vortex that was strong enough to rip the laboratory from its foundation. It was carried thousands of miles away and landed upside-down on the top of a theater in Pigeon Forge, Tennessee. Remarkably, all of the experiments remained intact and functional.

When you enter the building, everything will be upside-down, so in order to participate in the fun, you must be inverted. Step inside the inversion tunnel and be turned right side up to begin your journey. Once you are properly aligned for your adventure, family fun awaits with more than 100 hands on exhibits. Feel hurricane force winds, be shaken by a 6.0 simulated earthquake, discover space exploration, put yourself inside a bubble, climb the largest indoor ropes challenge course standing 50ft tall and much more..

quotemagic

"Sometimes you need to look at life from a different perspective"

amazing gadgets

Combined-modernmouse-keyboard-design Many laptops simply do not have the space to allocate to a normal number pad 単 something many of us are used to using on external keyboards or home computers. This simple-but-brilliant solution by Adesso combines keypad functionality to accommodate a traveler who does not wish to bring an entire extra keyboard. Combined-modern-mouse-keyboard-design. Housed within clear plastic casing, the keypad not only ads a functional dimension to an ordinary mouse 単 it also makes use of the unerlying keys as an aesthetic expression of the multiple functions of this portable gadget. For those of us who like to crunch numbers on the go this is an essential mouse to pack along.

62 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

quotemagic

If an egg is broken by an outside force, life ends. If an egg is broken by an inside force, then life begins. Great things happen from the Inside.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 63

prosperityseek

Dynamics of Luxury Living in India

ndia is blessed with one of the fastest growing real-estate markets in the world in which luxury housing is emerging as one of the most vibrant and dynamic segment. It is not only attracting domestic real-estate developers but also the foreign investors.

According to a new research report by RNCOS, “India Luxury Housing Market Analysis”, the luxury-housing segment is gaining momentum in India and holds immense prospects for the new and existing players and anticipates flourishing returns in the coming years. The emergence of a new affluent class, consisting of entrepreneurs and rich non-resident Indians along with rising aspirations of HNI (High Net-worth Individuals) and changing lifestyle has made the luxury segment business highly profitable for real-estate developers. According to a recent survey by ASSOCHAM, despite the global economic slowdown & fumbling rupee, High Income Group (HIG) consumers continue to spend over 40% of their income on some of the world’s largest luxury brands, while, Middle Income Group (MIG) consumers face heavy pressure. In Delhi, the luxury unit's sales in Delhi-NCR have gone up by around 25 percent in the current fiscal. The Dwarka Expressway, New Gurgaon, Greater Noida, Yamuna Expressway are also being seen as major pockets of the luxury apartments in the NCR region. 64 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Whatever the general market trend, the island city-Mumbai's realty market does not stop creating new records. A sea-facing duplex in a Malabar Hill’s Darshan Apartment building was recently sold for Rs 57 crore or roughly Rs 1.35 lakh a sq ft to the Bulchandanis, a prominent business family with interests in software, aluminum and real estate, who already own three other duplexes in the same complex. New projects are also being launched in areas like Mahalaxmi, Lower Patel, Worli, Juhu, Lokhandwala and Bandra in luxury segment. Not only from big cities, like Delhi & Mumbai, but also Tier-I and Tier-II cities, such as Lucknow, Pune, Ahmedabad, Indore and Jaipur have also shown encouraging market developments under this segment, the report says. . Omaxe, a luxury housing developers, has seen considerable increase in queries for luxury units in Gurgaon and Noida. But interestingly, due to current slop in rupee, there has been a rise in NRI queries and off take in the luxury segment with a drift in preference towards the non-metro markets of Lucknow, New Chandigarh, Indore, Bahadurgarh, Sonipat, Bhiwadi, Ludhiana, Faridabad, etc. However, this cannot sum up the general market sentiments & we certainly cannot overlook the prolonged slump in India’s real estate market. The current economic scenario has seen FIIs fleeing the country. Its only once things stabilize, the return of FIIs is imminent as India remains a lucrative investment destination. This organically shifts the radar on to the new RBI Governor who has shown his intent and exuded confidence in both the Indian market and global investors with his plan of action. However, his plans and implementation road map will be a thing to watch out when he presents his first credit policy. So watch out!!

Roshini Bakshi, Managing Director, Licensing & Retail, Disney UTV Special Luxury trends in India P&W brings to you a series of special features in this emerging segment from players across the globe and trends in India: Recently ventured out into the luxury real estate segment, the global brand Disney through its merchandising arm, Disney Consumer Products (DCP) have tied up 4 real estate players across India to provide Disney enthusiasts with Disney inspired interiors and exteriors. Thus making it a part of child’s growing up years. The arm has over six categories in Disney Fashion and Home, Toys, Consumer Electronics, Stationery, Food, Health and Beauty and Publishing. Home solutions is one of the key category for Disney in India and it spans across furniture, bedding, rugs, tiles, switches, tableware, kitchenware, fans, paints, bath accessories and much more. P&W’s Charu RS interacts with Roshini Bakshi, managing director, Licensing & Retail, Disney UTV What the status of Indian Luxury real estate segment? How big is it currently & what is the potential? The luxury real estate market in India will continue to grow in value and size over the coming years. The segment has evolved in India with consumers getting a plethora of options to choose from. The ultra-luxury housing segment is driven by preferences of buyers from C Suite of the corporate world, successful entrepreneurs and business tycoons, their financial appetite is not limited to or governed by the economic considerations. A significant percentage of buyers for such projects is able to self-finance their investments through their saved earnings. In India’s largest cities – namely Mumbai, Delhi NCR and Bangalore – luxury and ultra-luxury residential projects have witnessed appreciation over their launch prices over the last decade, implying greater annual returns on investment. Not only tier I cities, but also in tier II and tier III cities luxury will continue to grow.

What are the latest projects of Disney in real estate? We work towards bringing alive Disney stories and characters in the form of compelling products and experiences. Our Disney home products span across total home solutions including furniture, bedding, rugs, tableware, kitchenware, fans, paints and bath accessories. The Disney home products project will have Disney-inspired rooms consisting of Disney-branded furnishing, home décor products, colour palettes and more, bringing alive a complete Disney experience to families. It will also have Disney-inspired recreational areas such as, an exclusive Children’s Club with a themed swimming pool, play zone and many other Disney characters inspired amenities, for the children to spend time with their family and to bond together. How do you plan to penetrate Indian market? Who all are you partnering with? Disney’s beloved characters and stories have inspired multiple generations of fans and we constantly try to bring in newer products and experiences that would take our fan’s interaction with the brand to the next level. By partnering with a real estate players, we aim to provide our fans, an opportunity to bring a piece of Disney magic into their homes and provide holistic experiences into their day to day life. Disney has partnered with four real estate giants namely Sunteck Realty Ltd for a property in Mumbai; Team Taurus for a residential project in Kolkata, Supertech Ltd for an integrated township residential project in Greater Noida and most recently with Akshaya in Chennai for one of its “Mixed Mix Up” Township.

(Watch out for more such players in the next edition)

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 65

eyecatchers

GOOGLE BOY Pandit Kautilya Kautilya Pandit is a child prodigy from Kohand village of Karnal district in the Indian state of Haryana. Psychologist from Kurukshetra University has approached Kautilya for some research and memory test, Kautilya has already surprised many researchers before and they have marked him a child genius. It is believed that Kautilya would have IQ around 130 which is very rare at his age At the age of 5 years and 8 months, his incredible capability of answering every question within fraction of seconds has amazed one and all. The 5 year old wonder kid made an appearance on the KBC show during the children special episode and amazed one & all by his knowledge, tenderness and Lungi dance.

66 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

quotemagic

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 67

amazing getaways

Paro-Taktsang tiger's Nest Monastery Paro Valley-Bhutan

68 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

s this fantastic and very special monastry is a steep climb up the hill (900 meters), it is advised to visit it at the end of your stay in Bhutan, when you are acclimatised to the altitude.For people who want, a pony can be arranged for the ride up only, and until the cafeteria.From there it is another steep walk, and then the steep and narrow stairs until the Monastry itself. Your guide can organise a permit to enter the monastry. Inside you have to leave your bags and camera's at the entrance. The view is great and the atmosphere very holy, a place where every Bhutanese will want to come at least once in his life. This is the place where Guru Rinpoche brought Buddhism into Butan, arriving on the back of a tigress. Except Indian citizens,every guest has to visit Bhutan with a local guide, so this guide can organise the climb,the pony when requested. The guide will also tell guests if he thinks that the climb is too difficult according to the capabilities of the guests.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 69

amazing sites

Fairy Pools, Isle of Skye, Scotland

70 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

great easy walk to crystal clear pools you can swim or paddle in - look on YouTube for videos. Nice to combine with a visit to nearby Talisker Distillery and lunch at a lovely pub, the Old Inn, at Carbost on Loch Harport.

A gentle walk up to the fairy pools. Beautiful surroundings and the amazing Black Cullins looming up above behind the wonderful clear pools. Definitely take your camera and maybe a light lunch as it is beautiful to sit and listen to the water rushing over 6-7 waterfalls. The path is well made but very wet during the winter months.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 71

quotemagic

"Live as if you were to die tomorrow. Learn as if you were to live forever." Mahatma Gandhi

72 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

planetsavers

Drive Smart

Find ways to save fuel. Share a vehicle with friend Use public transport or use a bi-cycle

Go Green!

Grow more trees. Each one plant one every month

Turn it off!

think about things in your house that use electricity. Can you use less?

Be quick!

sometimes your actions can affect electricity use.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 73

quotemagic

"Ships in harbour are safe, but that's not what ships are built for"

74 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

bookshelf

Seed Money In Action Working the Law of Tenfold Return by

Jon P. Speller, D.D.

Within the last fifty years many thousands of people have read John Hoshor's wonderful, SEED MONEY: THE LAW OF TENFOLD RETURN AND HOW IT WORKS. They have grasped the scientific principle behind the Seed Money Formula and have successfully applied it in their daily lives to end their money troubles. Others have not, for various reasons. This book is to help people get to prosperity, who didn't get it the first time.

eed Money In Action" has stood the test of time. This forty year old little booklet has gone through 53 editions, sold 1,000,000 copies, and caused 40,000 people to write the authors and praise it. The basic message is that as you give, you will receive ten-fold in return. This ancient secret helped create millionaires and billionaires throughout time, and still works today.

There's a catch, of course. You have a give with a mind-set of non-judgmental expectation. When you do, you're in the flow. Most people who are broke are practicing the scarcity principle, not the seed money principle. Most people who are having money problems would never even think of giving money away, let alone think of the proper way to think AS they give money away. Yet that's the secret prosperity in this famous booklet.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 75

vaastu

Combination of Vastu, Fengshui and Interior can turn your house in a true home.

76 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Vaastu Shree, Vaastu Visharad Shri Naresh Singal, Vaastu & Feng-Shui Consultant. For any further queries on the subject, readers can contact him on mail@vaastunaresh.com

his is the time when most of the people planning for renovation, reconstruction or construction. They want to leave no stone unturned to make their home ideal one. For this they think of to take the help of interior designer, vastu and fengshui expert. Off course they should. After all this is the matter of their happiness, social status, and comfort. Vastu, Fengshui and interior are three different techniques, but they all together can best serve the purpose. Let’s discuss the role of all three one by one.

numbers and direction play vital role in fengshui. Fengshui advise to use bright colors in children room whereas pink and purple are advised to paint in the rooms of young girls.

Vastu- Makes your house a home Vastu is the oldest science of construction. This is based on the five basic elements a human being is believed to be made of i.e. fire, water, wind, earth and sky. Only a vaastu expert can tell you best that which type of land is best for a home, factory, office, school, hospital or hotel. Vaastu consultant also considers the magnetic field of the earth and cosmic energy. On the basis of these vaastu rules and size of the land a vastu consultant divide the land into nine parts and then suggest which part is ideal for entrance, drawing room, bedroom, kitchen, bathroom and toilet etc. Modern vaastu also have the rules for balcony, guest room, guard room, servant quarter, high rise buildings, studio apartments and commercial spaces. According to vastu the eight cardinal directions i.e. east, west, north, south, north-east, north-west, south-east, and southwest represent some or other basic element or energy field. This helps a vaastu consultant to decide the best use of that direction. For example south-east is represented by fire, so usually kitchen is suggested to construct in this direction, whereas center of the house is advised to keep empty. Negligence towards these vaastu rules can be result in poor health, financial lose, disharmony among relation or some time a serious vaastu defect can do irreparable damage in our life.

Interior- The art of living Interior is equally important for a house. When we use the term ‘interior’ it means that we are talking about decoration of a particular place keeping rules of space management in mind. A professional interior designer is that who decorate the space as per the need, budget and lifestyle of the dwellers. Interior decoration doesn’t mean to make the house museum with costlier show-pieces. A true interior decorator can make the small space equally beautiful.

Fengshui has the concept of male and female energy called Yin and Yang energies. To achieve the peace, prosperity, health, progress yin and yang energies must be harmonies. Fengshui gadgets play vital role in harmonizing the yin and yang energies. Even interior decorator believes that proper use of vaastu and fengshui can do wonders.

In short interior can make your house comfortable as per your needs and beautiful as per your taste but a vaastu and fengshui consultant have the ability to make your house a home, where your family can live in peace, harmony and happiness.

Fengshui- Harmony through symbols In such a busy and hectic life style it is almost impossible to rebuilt or re-construct the house just to cease the vaastu defects. There are many so-called vastu consultants who use to advise to demolish the structure to cease the vaastu defect. I must say that this a wrong practice which creates many misconception for vaastu among common man rather helping anybody in anyways. Though there are gadgets in vaastu which proves quite useful remedies for vaastu defect, but fengshui is the science which totally based on gadgets to harmonies a place. Fengshui basics are co-related with vastu and interior. Its basic principles are similar to vastu while its gadgets are also a part of interior. Fengshui gadgets like Laughing Buddha, Wind Chime, Crystal Ball, and Tortoise are uses to balance the energy of a place whereas they are uses in decoration as well. Colors,

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 77

healthy living

Walnuts and Heart Health An Ideal Snack!

ho would have thought there could be a connection between walnuts and heart health. Yet research shows that not only is there a strong connection between walnuts and heart health but that this connection also benefits the endothelium, which lines and regulates your cardiovascular system. “Twenty-eight grams of walnuts (an ounce) have more antioxidants than the sum of what the average person gets from fruits and vegetables.” According to Dr. David Katz, director of the Yale University Prevention Research Center, “Studies show that walnuts improve cardiac risk factors and enhance blood flow.” One study published by the American Heart Association journal showed a 64% improvement in a measurement of endothelial function when walnuts were substituted for other fats in a Mediterranean diet. Walnuts contain a variety of nutrients including arginine, polyphenols, and omega-3s that support the inner arterial lining and guard against abnormal platelet aggregation. These favorable biological effects explain why walnut consumption confers

78 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

protection against coronary artery disease. The US National Library of Medicine database contains no fewer than 35 peer-reviewed published papers supporting a claim that ingesting walnuts improves vascular health and may reduce heart attack risk.” Given the above information it makes sense to use walnuts as a heart healthy snack. According to the U.S. Department of Agriculture an ounce of walnuts contains 185 calories, 4 grams of protein, nearly 2 grams of fiber, and 18 grams of “heart-healthy” fat. The most popular snack in America is potato chips. According to the Fat Secret website one ounce of potato chips contains 155 calories, 1.86 grams of protein, 1.2 grams of fiber, and 10.6 grams of fat. Comparing the two snacks, walnuts are going to give you twice as much protein, almost twice as much fiber, and healthy fats that benefit cardiovascular health. Plus the extra protein and fiber will help to hold your appetite over a longer period of time. This will result in better energy and less hunger going into your next meal. Implementing a nutrition program that nourishes and supports a healthy endothelium is critically important to your overall health and wellness.

Your nutritional program needs to increase your endothelium’s ability to properly produce nitric oxide – the master signaling molecule of your entire cardiovascular system. As the saying goes “an apple a day will keep the doctor away”. Well, maybe “an ounce of walnuts a day will keep the cardiovascular surgeon away!” Don’t minimize the value of walnuts and heart health. They could help reduce your risk for the number

one killer of men and women worldwide, which is cardiovascular disease. Contributed by R.Bedi –Fitness Freak Disclaimer: The views expressed in the article are solely of the author. The views are based on her on experiences, knowledge & interpretations & not necessarily based on formal research or education. Readers are advised to consult their physician before following any advice in the article.

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 79

softcorner Come One

Come AII

Donate Blood

"A few drops of your blood can help a life to bloom"

BLOOD DONATION CAMP Organised by

PROPERTY CONSULTANTS ASSOCIATION (REGD.) CHANDIGARH At (opp.) SCO No. 2417, Sector 22-C, Near Aroma Taxi Stand, Chandigarh On 13th December 2013 (Friday) From 10.30 a.m. to 4.00 p.m

RSVP Mahavir Sharma, Rajesh Walia, Subhash Sharma, Sunil Kumar, Davinder Kumar

80 PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14

Mr. Ajay Gupta

PROPERTY & WEALTH VOL 3, ISSUE 03, Dec-Jan 2013-14 81