India-Diaspora, Political, Diplomatic and Business Connectivity
ough times don’t last, tough people do. These highly enduring words of motivational speaker Robert Schuller sit well on Mr Parveen Jain, the current President of the National Real Estate Development Council (NAREDCO). These are not easy times to be helming NAREDCO, set up as an autonomous, self-regulatory council for the real estate industry in 1998. To put things rather mildly, the industry is going through its toughest phase ever. There are large questions of credibility looming over big names in the industry as buyers and other stakeholders are clamoring for delivery of promised properties for years. Banks are gunning for liquidation. Televised extensively, some buyers have even agitated violently in Noida earlier in August against a very large builder in whose case the National Company Law Tribunal has appointed an Interim Resolution Professional. Courts and consumer forums across the country have been petitioned by thousands of home buyers across the country for non-delivery in delayed and abandoned projects. Also, the provisions of the Real Estate (Regulation and
Volume 13 No. 4 September 2017 www.indiaempire.com RNI No.: DELENG/2005/16693
GLOBAL ADVISORY BOARD Mr Inder Singh, Dr Rami Ranger, Dr Kamalanathan Sappani, Mr Mridul Pathak, Ms Priya Tandon Editor Sayantan Chakravarty Consulting Editor Yogesh Sood (Business and Commerce) Sipra Das (Photography) Kul Bhushan Jayant Borkar (Mumbai Affairs) Sanjay Sharma (BJP Affairs) Paras Ramoutar (Caribbean Affairs) Vishnu Bisram (New York) Premchand Ramlochun (Mauritius) Liladhar J. Bharadia (Kenya) Jay Banerjei (Toronto) Head—Art and Print Jaydev Bisht
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Additional Contributions From K K Anand, Dinesh Bhugra, Yogi Ashwini Registered Office: N-126, II Floor, Greater Kailash I, New Delhi - 110 048. Contact: +91.11.2923.3647, +91.11.2923.1515. Our Associate Offices: Hyderabad: Abhijit Bhattacharjee, Tel: +91.9848033874.
Mr Shripad Naik, Union Minister of State (IC), AYUSH, with Editor Chakravarty in Parliament
H.E. Ambassador Zigmund Bertok and Editor Chakravarty at Slovakia Embassy
Development) Act, 2016 (RERA) have started kicking in since May 1, 2017 in different states. The entire real estate industry which is taking things on the chin has to find a way out to up its game, and start fulfilling the many dreams of millions of home and property buyers by delivering projects qualitatively, and within timeframes. From this sea of choppy waters, Mr Jain is tasked to steer the ship into calmer zones. As NAREDCO heads into its 14th National Convention in end August, things won’t be easy. Yet, hope will spring eternal. American pugilist James Corbett would say, “You become a champion by fighting one more round. When things are tough, you fight one more round.” In order to regroup and come out stronger, there’s just one way out for the industry—to fight one more round to show it can retain the trust and confidence of the paying public. Elsewhere in this issue, we have extensive country coverage. We also have an interview with Mr Shripad Yesso Naik, Union Minister of State (Independent Charge) for AYUSH, who outlines the rise of Yoga power across the world, and how millions of Indians are falling back on the ancient practice of ayurveda and coming to realize its time-tested benefits. Do please write to us with your views, we’ll carry them in the subsequent issue. Happy reading.
Sayantan Chakravarty (firstname.lastname@example.org)
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Sayantan Chakravarty is in a select group of 12 writers chosen by Scholastic Education to promote advanced English literature for schools worldwide. Included in the group are Nobel Laureate William Butler Yeats, R K Narayan (Padma Vibushan and Sahitya Award winner), journalist and poet Walt Whitman, writer Saki (Hector Hugh Munro), poet Nissim Ezekiel (Sahitya Akademi Awardee), writer Jerome K Jerome (author of Three Men in a Boat), poet Edward Lear, Roald Dahl (16th on Time Magazine’s list of greatest British writers). Sayantan Chakravarty’s stories featured in Best of Indian Express of 25 years and among select stories in Best of India Today’s 25 years.
INTERVIEW WITH MR SHRIPAD Y NAIK UNION MINISTER OF STATE (IC), AYUSH
“Acceptance of AYUSH is becoming wider” Soft-spoken Shripad Yasso Naik is Union Minister of State (Independent Charge) in the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha, Sowa-Rigpa and Homoepathy (AYUSH). He won his Lok Sabha seat of Panaji first in 1999, and has held it ever since, winning in 2004, 2009 and 2014. He speaks to India Empire’s Editor and Publisher Sayantan Chakravarty at his Lodhi Estate residence Do you think that more and more Indians are making a shift from the Western system of medicine, i.e. allopathy, to the Eastern system of medicine and therapy, i.e. AYUSH? Yes, certainly. It was the Prime Minister’s brainchild to create the new AYUSH Ministry, and things are looking up for us with each passing day. We’ve witnessed how this Government has managed to give a real boost to the image of Yoga worldwide. We have been celebrating the International Yoga Day for the last three years on June 21. We never expected such a large number of countries across the world to accept the PM’s proposal in the UN General Assembly to adopt June 21 (the longest day of the year in the Northern Hemisphere with special significance across nations) as International Yoga Day. Our Prime Minister had outlined in his speech that Yoga is an invaluable gift of India’s ancient tradition, embodying unity of mind and body, thought and action. It was a holistic approach to health and well-being. I’m not against the Western system, but let us admit that most disciplines in the AYUSH system have been around for thousands of years. When the British came to India, they not only tried to enforce their system of medicine, but also tried to finish ours. But now, through awareness, more and more people are moving back to AYUSH. They know that the benefits are huge, and the side-effects are not there. The Eastern system is preventive. If you use it regularly, the chances of falling ill diminish. It is a powerful system. When we fall sick and go in for surgeries and post-operative rehabilitation we are looking at the Western system. There are huge side-effects of the chemicals used in Western-style medication whereas the AYUSH system uses pure medicines and extracts. In fact, some ‘pathies’ do not even require medicine. I am confident that if the momentum we’ve today continues for the next five to ten years, our medical budget will eventually come down because we’ll become a healthier nation. What is the long-term vision that you have laid down for this Ministry? We keep it simple. Our message is that if people stay 6
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healthy and fit, then the nation stays healthy and fit. If there is one ill person in the family, then the entire family suffers. Most of the time is spent visiting hospitals and doctors. The AYUSH system has no side-effects. It is cheaper. You can become your own doctor. The Rishis, our forefathers, have explained everything in their works very scientifically and methodically. Just imagine they didn’t have any laboratories thousands of years ago, but the fundamental quality of research they carried out was so good and pure that it is being applied meaningfully today. Among all the disciplines—that is Ayurveda, Yoga and Naturopathy, Unani, Siddh and Homeopathy—which are catching the imagination of Indian patients faster? My answer to your question is Ayurveda. That is because that it has had acceptance in most families through our grandparents and ancestors. As a child, I would use boiled leaves to get rid of stomach disorder. I do not remember going in for Western medication to solve the issue. In fact, we hadn’t heard of medicines like Combiflam. You see, we’ve sown the seeds of Ayurveda, and are pouring water on those seeds abundantly. Slowly, but surely, it is catching up. Remember, it is already there in our genes. Our eyes had been shut to these ancient practices for a long time because of the dominance of the Western system. But today those same eyes are opening up. The credit for making this happen goes to this BJP-led NDA Government. Is there a greater tendency among Westerners to accept and practice these forms of medicine? Most definitely. Since the time I’ve become AYUSH Minister, we’ve had MoUs with 10-12 countries. They are keen to adopt this system. We’ve put chairs in many universities to teach those subjects. I’ve attended conferences in AYUSH disciplines in 5-6 countries. On the sidelines of the Pravasi Bharatiya Divas in January 2017 in Bengaluru we had a two-day conference on treatment of cancer. It was attended by 15 doctors from the USA. After the conference, they wanted to sign a MoU and
pictures ÂŠ sipra das
AYUSH CHAMPION: Minister Naik has given the AYUSH movement a big boost
wanted to carry out research. So even America is interested in AYUSH. Also, the World Health Organization and our Ministry have signed an agreement, and weâ€™ll be represented in their programmes by an official. Similarly, there are doctors in other countries who are showing interest. Our endeavor is to spread this awareness, and encourage all those evincing interest.
Thanks to the initiative of the Prime Minister of India at the UNGA, Yoga today has worldwide acceptance. Can you please tell us the feedback that you receive from different nations on this discipline alone? The Ministry of External Affairs has said that the number of people that took part in the last International Yoga september 2017 | india empire
BEAMING WITH CONFIDENCE: AYUSH has become a buzzword in India, and largely responsible for this is Minister Naik’s visionary approach in spreading its awareness
Day have grown manifold from the first one. More citizens of the world have become aware of the benefits of this ancient discipline. A time will come when Western nations will outpace us in the adoption of Yoga. Our objective is to see that the world benefits from Yoga. What steps are being taken by the Ministry to revive ancient manuscript in this area? We have started the work on original manuscripts that were written in Sanskrit 500-600 years ago. The Ministry is playing a pivotal role and we’d want this information to live on for generations to come. The material will be available in all major Indian languages. We now have the Sowa-Rigpa, or the Amchi system of medicine, one of the oldest, living and well-documented medical traditions in the world. Please tell us a little about this… That is correct. We officially added Sowa-Rigpa to the AYUSH system in 2016. It won’t make a difference to the full form of AYUSH as such. There used to be an institute for Sowa-Rigpa in Ladakh. We’ve upgraded it and made it a national institution for Sowa-Ripga. Funds have been released for construction of the building. So in AYUSH we now have six disciplines, instead of five. What kind of research has been initiated by the Government in AYUSH? A lot has been done in the last two years. The fact of the matter is that until we focus on research, and also on infrastructure, we won’t be able to take things forward. We have 11 Ayurveda research centres, and another 85 branches 8
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across the country. We also have a national homeopathy research centre with branches all over. The IME-9 medicine for diabetes has been a revelation. It was our research that went behind it. We’ve also tied up with several research institutions overseas. We are also talking to Harvard University, and in a couple of months research will start with them as well. To spread awareness worldwide, research is key. What steps are being taken to augment and increase infrastructure for serving more people in AYUSH sector? We are focusing on developing national institutions, like the one in Ladakh for which funds have been released. In Pune we have a small naturopathy institution, we’ve declared it as a national institution with a budget of Rs 100 crore. There are around 200 beds, plus a research centre, hospital, OPD. In Goa we are starting two national level institutes. One will be for Ayurveda. The other will be for Yoga and Naturopathy and will be specially designed for tourists who come there. It will have diploma courses. Tourists can avail boarding and lodging and complete their course. Likewise, on the lines of AIIMS, we have commissioned the OPD wing of the first All India Institute of Ayurveda in Delhi’s Sarita Vihar. A 200-bed hospital will be starting there within a couple of months. This is keeping in line with the vision of our great leader and former PM Atal Bihari Vajpayee Ji. We are also tying up with primary healthcare centres to ensure that at least one AYUSH doctor is available at each place. We’ve a target of setting up Yoga Parks in every district of the country, and eventually every village. When people witness growth in infrastructure, they will become naturally inclined towards AYUSH. ❐
COVER STORY: BUSINESS PROFILE AND INTERVIEW
Mr Parveen Jain President, National Real Estate Development Council and CMD, Tulip Infratech Pvt. Ltd.
GUIDING REAL ESTATE SECTOR IN TOUGH TIMES
Motivational speaker Robert Schuller famously said, “Tough times don’t last, tough people do.” His words sit well on the broad shoulders of Mr Praveen Jain, President of NAREDCO. Over the years, Mr Jain has been witness to many tough times through which India’s largely unregulated real estate sector has sailed. But he has survived those times. Even though not everybody in the sector is trying to make a quick buck, there are a few black sheep that have today brought the industry down on its knees. As President of NAREDCO, he is in a position of power and influence to guide the industry in what can be considered real estate’s toughest phase yet. With numerous projects delayed for years, there is hardly any acchee din in sight for buyers and investors. Several builders are bombarded with a slew of cases in courts, police stations and tribunals. It is a testing time for Mr Jain. He’s navigated in choppy waters earlier, and knows that the present crisis is actually an opportunity in disguise for the Real Estate sector to redefine itself, make course correction quickly, gain back lost credibility, and ensure that it is incumbent on every builder and developer to deliver on long-pending promises. Can the NAREDCO President steer the ship to calmer waters?
By Yogesh Sood
r Parveen Jain is the President of NAREDCO (National Real Estate Development Council). He is also the CMD of Tulip Infratech, one of the leading Real estate organizations of Delhi NCR area. NAREDCO is the apex national body for the real estate industry and is the platform where Government, industry and public would discuss various problems and opportunities which would result in speedy resolution of issues. It was formed with the mandate to induce transparency and ethics in real estate business and transform the unorganized Indian real estate sector into a matured and globally competitive business sector. The National Real Estate Development Council strives to be the collective force influencing and shaping the real estate industry. It seeks to be the leading advocate of developing standards for efficient, effective, and ethical real estate business practices, valued by all stakeholders of real estate sector and viewed by them as crucial to their success. NAREDCO works to create and sustain an environment conducive to the growth of real estate industry in India, partnering industry and government alike through advisory and consultative processes. Mr Parveen Jain’s role has been outstanding in NAREDCO 10 india empire | september 2017
in bringing forth the various issues and problems being faced by the Real estate sector, in giving suggestions on how to solve them, by holding discussions, meetings, seminars and conferences with the government and various stakeholders regarding the same. This has resulted in various reforms, for exampleAffordable housing sector having been given ‘Infrastructure status’ and RERA having taken into account the various issues for the benefit of the Real estate sector. Mr Jain’s views about current scenario of the Real estate industry Presently we are living in an era when Real estate Renaissance is taking place. As the crucial reforms are being brought in, majorly with the mission of ‘Housing for All by 2022’, ‘Smart Cities’, RERA ( Real estate Regulation act) and GST ( Goods and services tax), Real estate sector is expecting to come out of the doldrums and advance forward on the right track with a positive attitude. The bright future is beckoning the Real estate sector. The current scenario of the real estate industry is that it is recovering well from the earlier slowdown with major emphasis being given on Affordable housing creating more demand and supply and in consonance with the government’s mission
of providing ‘Housing for All by 2022’. Also with RERA and GST coming into being, is bringing back the Real estate sector on the right track which have rightly taken the cause of the buyers with major emphasis on timely delivery of the projects and the system becoming more transparent. Views about ‘Housing for All by 2022’ To accomplish the mission of ‘Housing for All by 2022’, major emphasis is being given on ‘Affordable Housing’ which can reach out to the masses, reviving the demand supply chain to a great extent and rejuvenating the Real estate sector in the process. Affordable Housing having been given the ‘Infrastructure status’ is a huge positive step in this direction. An estimated 1.1 trillion dollar investment is required for constructing around 4crore houses in rural areas and 2crore houses in urban areas. The Affordable housing mission provides a massive opportunity for employment generation, GDP growth, economic growth and development of the nation. It is a win-win situation for everyone. Govt’s focus on its mission of providing ‘Housing for All by 2022’ is going to have a positive impact on the industry as the main emphasis now is to provide Affordable Housing which is going to increase the demand emphatically and in turn the supply of Housing and supporting infrastructure also. This way the Real estate industry shall be on its way to prosperity. Views about RERA on real estate sector RERA is going to have positive effects on the industry as it has addressed the issues and problems being faced by the industry. RERA is buyer friendly and is going to make the system more transparent, systematic and streamlined. The Real Estate Regulatory Act (RERA) has a plethora of advantages which shall help the home-buyers in manifold ways. RERA has taken into consideration and has tried to improve
the things for the better so that the home-buyers do not suffer in the process of home-buying. RERA shall improve the real estate sector reducing disputes to a great extent. The state Real estate regulatory authority shall be the body to which any grievances, problems, issues can be addressed to for solutions. The rule of RERA of depositing around seventy percent of funds in a dedicated account will ensure sufficient funds for the projects to speed up and lead to getting completed on time. This timely delivery of the project is the biggest factor or cause of concern for the home-buyers and by taking this step if it helps in having a timely delivery, then it shall be a big relief for the home-buyers. september 2017 | india empire
COVER STORY: BUSINESS PROFILE AND INTERVIEW
Tulip Arial Project
RERA is likely to bring in more transparency in the Real estate sector, it shall lead the sector to be able to attract more FDIs. This is set to improve the feasibility of financing options availability in the market leading to increased investments and propelling more FDIs and thereby making the system more efficient and home-buyers friendly. Taking into consideration all these factors, the ultimate beneficiary is going to be the homebuyer.
ious issues of Real estate sector and in this series, the 14th National Convention of NAREDCO on ‘Indian Real Estate and unfolding the new era of growth’ will be held on 28th and 29th of August 2017 in New Delhi where Union Ministers, Government dignitaries, around 500 developers from all over India, various stakeholders and international delegates shall participate to discuss the above matters for the growth and development of Real estate sector, economy and our nation.
Views about GST Bringing in GST (Goods and services tax) is going to be a positive development for the Real estate sector. GST shall bring a multi-edged positive impact on the Realty sector bringing in more transparency, abolishing multiple taxation system, making the system more systematic and streamlined. In the current scenario, the potential impact of the GST on the Real estate sector shall be better for the economy and for the real estate in particular as it will bring in more transparency and the things shall become crystal clear as instead of many agencies there would be a single nodal agency which can make the whole process streamlined and properly methodical attracting more FDI.
Tulip Infratech Pvt Ltd Mr Parveen Jain is the CMD of Tulip Infratech. Tulip Infratech is a Real Estate Development Organization in Delhi Gurgaon NCR (National capital Region) with its corporate office in Gurgaon and registered office in Connaught place in the heart of Delhi. Tulip was started in the year 2005 by Mr Parveen Jain and since then there has been no looking back. Tulip, within a short span of time of the last decade, has become a major force to reckon with in the Real estate sector. Tulip ventured mainly into Group Housing projects along with commercials and has been successfully delivering the projects to its clients year after year where clients are cherishing their stay. This high benchmark of successful delivery of quality projects on time to its clients has won the trust of the buyers and investors and the successful business journey of Tulip is going on. The major ongoing projects of Tulip Infratech are the huge Group Housing project Tulip Violet in Gurgaon, the Affordable Housing project Tulip Lemon in Gurgaon where The latest ‘Mivan’ construction technology is being used and the new towers of Group Housing project Tulip Grand in sonepat. Two other major group housing projects Tulip Purple and Tulip Ace have been completed in the recent past with several other projects having been successfully delivered in the past decade. Tulip Infratech has several upcoming projects like three commercials at sectors-104, 68and 89 Gurgaon, two affordable housing projects at Dharuhera, one group housing project at sector-69 which are in pipeline. Efforts are being consistently made for further growth and ex❐ pansion in other cities.
Message to the industry The main message to the industry is to be sincere and hardworking from your side in your efforts so as to successfully complete and deliver the projects on time and bring in more transparency. This shall win the trust of the buyers and investors alike and by virtue of this, the demand shall increase manifold bringing back the Real estate on the right track of growth, development and prosperity. Also the various stakeholders should go for Affordable housing projects which is the need of the hour for the masses and in consonance with the government’s mission of ‘Housing for All by 2022’, inculcating demand manifold and making Real estate sector prosperous in the process. NAREDCO’s 14th National Convention NAREDCO holds annual conventions to discuss the var12 india empire | september 2017
Interview with Mr Parveen Jain President NAREDCO and CMD, Tulip Infratech Pvt. Ltd.
“RERA is buyer friendly and will improve transparency” NAREDCO President Mr Parveen Jain speaks to Consulting Editor (Business) Yogesh Sood on key issues in the Real Estate sector Following RERA, according to you, what are the challenges being faced by the Real Estate Sector? RERA is going to have positive effects on the industry as it has addressed the issues and problems being faced by the industry. RERA is buyer-friendly and is going to make the system more transparent, systematic and streamlined. There is a section in the Real Estate Industry that feels that linking Aadhaar card to property deals will slow down the sector. What are your views on this? Linking Aadhar card to property deals shall not slow down the sector but in fact it shall make the system more authentic and transparent with proof of ownership of the property and in property deals. The National Company Law Tribunal (NCLT) has appointed an insolvency professional for Jaypee Infratech. This is part of a court-driven attempt to put in place a revival plan for the developer’s much-delayed housing schemes. As NAREDCO President, how do you view this development? The Law is the best to decide its course of action and the law should take its own course. What is the overall assessment in the Real Estate Industry about GST? GST is having a positive effect on the industry where in lieu of multiple taxation system, now a single consolidated tax system has come into being. This way the things are becoming more simplified, less cumbersome and more transparent.
Mr Parveen Jain, President NAREDCO and CMD, Tulip Infratech Pvt. Ltd.
As NAREDCO President what are the major issues that you have been able to take up on behalf of the Industry? We have taken up almost all the issues on behalf of the industry with some major successful results like ‘Infrastructure status’ has been given to the Affordable housing sector and RERA has taken into account the various issues and problems being faced by the Real estate sector which were highlighted by NAREDCO. We persistently keep on taking up the issues through discussions, meetings, seminars and conferences with the Government and various stakeholders. NAREDCO is persistently working in consonance with the ❐ Prime Minister’s vision of ‘Housing for All by 2022’. september 2017 | india empire 13
LIVING BRINGS GODS BACK TO
EARTH Story about Pandavas Indraprastha Legends are replete with stories of the architectural beauty and grandeur of the magnificent city of Indraprastha. This iconic city draws its history from the Mahabharata. Soon after the Pandavas entered Khandavaprastha, they approached Lord Krishna, their mentor and cousin for help. Upon which Lord Krishna invited Viswakarma, the celestial architect to design the city of Indraprastha, which was to be built on the lines of Lord Indraâ€™s model city Amaravathi. In fact, once Indraprastha was completed, it was so perfect a city, it made even Lord Indra envious. Centuries have passed but Indraprastha is still considered the gold standard for cities. Drawing inspiration from the best, the project is named after this great city. The perspective-of Indraprastha seeks to emulate the original in terms of the creative articulation of living spaces. It is in fact a divine plan orchestrated for the discerning few. The architects have included nature, harmony, unity, equitable spaces, quality, luxury and sophistication as the highlights of the master plan. The cumulative outcome of these well-defined spatial designs is Indraprastha of our timeâ€”the land of the Gods for humans on earth. Environment-friendly. Cost effective. Health-centric. The vision of creating a healthy, clean and comfortable environment and driving sustainability for future generations is reflected in every square foot of Muppa's Indraprastha. By minimizing dependency on external energy sources and utilizing low-flow water fixtures, the overall maintenance cost of the utilities at Muppa's Indraprastha is substantially reduced. Living spaces have been designed to harness natural lighting and natural ventilation. The natural green areas around the villas, sprawling parks with sustainable greenery, have been integrated in
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the architectural plan to reduce the urban heat island effect. Every green initiative at Muppa's Indraprastha aims at contributing to the health and general well-being of the residents. Recycle. Reuse. Reduce. At Muppa's Indraprastha, leveraging natural resources for a sustainable and healthy life is part of their mission to create the ideal city. The architectural plan allows efficient conservation of ground water through the rainwater harvesting pits and bioswales. Waste water is reused after treatment in the STP. Sustainable energy is core to Muppa's Indraprastha way of life. Every part of the project encourages and supports usage of solar energy for heating water and generating power, hence contributing to reduce the carbon footprint and global warming. At Muppa's Indraprastha, meticulous attention to deliver an environment-friendly, resource-efficient and sustainable development are the essence of master plan.
Commune with Nature and Rejuvenate Look deep into the nature, and then you will understand everything better —Albert Einstein Most of the cherished moments enjoyed by the Gods and Goddesses were fashioned in their promenades and courting in enchanted gardens, surrounded by flora, tranquil lakes and the chirping of birds. Muppa’s Indraprastha recreates this magic. A walk in the great outdoors will create your own moments and Legends worth narrating. Where Heaven and Earth Meet Muppa’s Indraprastha integrates the two important elements—the luxury of open spaces and the convenience of contemporary living. You will find the great outdoors seamlessly merge with living spaces and amenities. At Muppa’s Indraprastha living is not a routine but a pleasure. Every Day, Day by Day and Day after Day.
Real Holiday Starts After A Long Holiday The best and the most virgin part of the sprawling 36 acres of land has been reserved for the unique facilities that integrate seamlessly with the natural environment. Residents can carry out a large part of their leisure, sporting and health-related activities and have the luxury of a commune with nature, every day. THE CLUB HOUSE Indulgence is the Privilege of A Chosen Few At Muppa’s Indraprastha, the Clubhouse is designed to grant you exclusivity. Aesthetically appealing and inviting, the 36000 sft Clubhouse is provided with a rooftop solar facility which supplements its energy needs. Equipped with the best amenities which include a spa, swimming pool, air-conditioned gym, best-in-class recreational avenues, leisure and indoor sporting events, the Clubhouse is the converging point where daily rejuvenation is a part of life.
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Mr Muppa Venkaiah Chowdary with sons Dr Muppa Vishnu Vardhan (left) and Mr Muppa Ashok Vardhan (right)
Exclusivity Comes with Security At Muppa’s Indraprastha, security is a given. The high perimeter wall with solar fence, security gates, boom barriers and video-surveillance cameras integrated with gate intercom provide 100% security at all times. Providing both a physical and psychological barrier to intruders, Indraprastha's impeccable Security Systems is backed by a team of thoroughly trained security personnel who stand as committed sentinels of these gates of heaven, 24/7. Residents are educated about comprehensive Safety Regulations which they are advised to adhere to ensure that the safety is optimized at all times. At Muppa’s Indraprastha, you will feel secure and safe in your exclusive world. Connected to Life and Located to Appreciate Muppa’s Indraprastha offers you the best of both worlds— Located in the sustainable urban neighborhood of prime ITIR region, it is well connected to the city's hub. The location offers ease of access to best hospitals, educational institutions, restaurants, shopping and entertainment hubs. This opens up a bouquet of choices allowing residents to sprinkle their lives with interesting leisure avenues. At the same time, they have the granted convenience of accessing the exclusive lifestyle in the privacy of their home, whenever they wish! Muppa's Indraprastha is strategically located between the ORR and Tellapur-Gachibowli road. Incidentally, the Gachibowli-Financial District-Tellapur belt is destined to emerge as the new Techno-hub of Hyderabad. Living spaces a divine providence Each villa represents a way of life that is absolutely divine in every aspect with the dancing light and pure breeze through the large windows, unhindered view through glazed balconies,
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shining floors, best-in-class fixtures and reliable fittings, cozy king-size bed rooms, convenient living rooms and well-defined comfort zones with spectacular views once you step out into the open. Come together, here birds of every feather flock together Spaces are conceived and designed with love and care to instinctively create strong bonds in a family and encourage quality family time. A sense of joy fills in and surrounds every home. Whether young or simply young at heart, everyone is bound to get connected here to enjoy. At Muppa’s Indraprastha, you can reclaim all those priceless moments effortlessly and cherish them forever. ABOUT MUPPA GROUP Mr Muppa Venkaiah Chowdary, Chairman of Muppa Group, has developed a flair for identifying potential lands at best prices and eventually created a very good land bank with potential for premium housing business. He is well supported by his two sons, Ashok Vardhan and Vishnuvardhan. Mr Ashok Vardhan is an M.B.A in Finance and a CFA from Harvard University. He plays a pivotal role in coordination and integration of group operations. His proven expertise helps the company in resource pooling, project funding and corporate management. He is heading Muppa Infrastructure Pvt Ltd. Dr. Vishnu Vardhan, is a medical doctor by profession. He has chosen the field of real estate because of pure passion. Known to be a straightforward, honest and transparent person, his contributions to the marketing and sales functions of company are immense. Muppas as a group have been in realty business for more than 15 years. The company “MUPPA PROJECTS INDIA PVT LTD” was established in 2012 and is today identified as ❐ a fast-emerging real estate company in Hyderabad.
REAL ESTATE: ASSOTECH
INTERVIEW: MR NEERAJ GULATI MANAGING DIRECTOR, ASSOTECH REALTY
“RERA and GST are landmark laws” Consulting Editor Yogesh Sood speaks with Assotech Realty’s MD Mr Neeraj Gulati Since RERA has come into effect, how has it impacted the market? The answer to this may not be as straight as an arrow. While the new rules call for a much stricter compliance and transparency, which may push the real estate prices up especially for the new launches, the large amount of inventory overhang in the system will probably keep the price rise
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at bay till the supply gets over. As per the laws of RERA, is Assotech maintaining an escrow account and keeping project specific amount in that already? We have always been following an internal discipline on how to utilize funds for construction and have always main-
Mr Neeraj Gulati Managing Director Assotech Realty
tained project specific accounts. Assotech has always operated in a discipline manner irrespective of RERA. How RERA secures consumersâ€™ interests and empowers them? As per the RERA rules, the consumer is entitled to receive information about the sanctioned plan, approved layout plan, stage-wise progress of the project, carpet area and facilitation of basic amenities and services such as drinking water, electricity, sanitation etc. The consumers can claim possession of the unit and the association of consumers can collectively claim possession of the common areas as declared by the real estate developer. In case the real estate developer fails to meet the timeline or does not deliver what was promised then the consumer has the right to claim refund of amount paid with prescribed interest and compensation for the same.
Where do you see Real Estate industry going five years down the line since RERA and GST have come into effect? They are going to change the industry tremendously. We are already seeing reports that the kind of investments we are looking at in the real estate sector in this scenario is only an indication that RERA as well as GST are landmark laws. In the short run it is going to be same with both laws as people will take time to adapt to them. How do you see Assotech growing under RERA Act? In spite of some negative sentiments since we have been maintaining the internal discipline which I was talking about, we have been able to maintain our sales growth. We have a very strong customer base and able to cross sell most of our new inventory to existing customers. â?? september 2017 | india empire 21
LEGAL COLUMN ON REAL ESTATE
IMPACT OF RERA ON INDIAN SOCIETY Advocate Kamal K Anand gives an overview of the Impact of RERA on various sectors
The Real Estate Act 2016 has come into effect w.e.f. 1st May, 2017 RERA has been implemented with a prime agenda to ensure that the sales of properties are in an efficient and transparent manner. Ultimately defending the interest of consumers, RERA has established a mechanism for every category and department of the sector. The builders are the base of the real estate sector as they bridge the gap between the construction ability and the buyers need. RERA ushers in transparency, accountability and efficiency in the sector. This new Act impacts the various sectors and segments of Indian society in many ways. Herein are the various sectors/segments which are going to be impacted.
shared with the buyer. In fact, at the time of booking itself, the promoter will have to issue the allotment letter which contains all the above stated information. Every advertising collateral will have to carry the registration number of the project. The registration number will be obtained only after the project gets registered. For all kinds of advertising or promotion, the details like the developer’s background, projects launched by the developer in the past five years, the status of the ongoing project has to be shared.
The promoter should also have the list of approvals and commencement certificate from the Mr Kamal K Anand competent authority, failing which Impact on Promoters / Builders advertisement and sales related activities will be sus● The builder will have to buy land, get all the necessary pended. They would need all these documents while approvals and then only they can declare the launch of presenting the project to the customer. the project. The builders will have to get all the neces- ● In case of any structural defect (like a quality comprosary clearances before they can start selling the project. mise) or provision of promised services or any other The cost of the project for the developer will increase obligations from the promoters end as per the agreeas now sales will start post-registration, so no prement for sale, if brought to the notice within a period launches! of five years, it shall be the duty of the promoter to rectify such defects without further charge, within 30 days. ● For all the ongoing projects the promoters have a deadline of 31st July, 2017 to get their ongoing projects reg- ● The promoter is also liable to return the total amount istered with RERA. with interest at the rate as mentioned in the agreement for sale if it fails to complete or is unable to give pos● The booking procedure will be completely revised under session of the property within the agreed time-period. RERA. Crucial information like the stage wise time schedule of completion of the project (including every ● In case the buyer does not intend to withdraw from the provision like water, sanitation, etc.) will have to be project, he/she will be paid, by the promoter along with 22 india empire | september 2017
the interest for every month of delay, till the handing over of the possession. ●
The builder will have to buy land, get all the necessary approvals and then only they can declare the launch of the project. The builders will have to get all the necessary clearances before they can start selling the project. The cost of the project for the developer will increase as now sales will start post-registration, so no pre-launches!
Now, as per RERA, a promoter cannot accept more than 10 percent of the cost of the property, even as an advance payment, without first entering into a registered agreement for sale. 70% of the payment received has to be directly deposited in a separate account and money from it can be withdrawn stage-wise only for that particular project. The promoter has to clearly disclose to the buyer the carpet area of the flat/unit being sold and has to state the date at which the project will be completed. In case of any delay in the same, the promoter is liable to pay the rate of interest in case of any default. In case the builder doesn’t adhere to the RERA regulations, he will not only lose on the registration of the project, but can also face imprisonment for up to 3 years.
Home buyers who use the services of real estate agents or brokerage firms will be protected. Under RERA, agents and brokerage firms will have to ensure that they are duly registered with the Regulator. They will be accountable for their business activities and practices. Each state will have regulatory bodies as appellate tribunals to resolve disputes between builders and buyers within 60 days. Once the pending complaints get resolved, and we have the systems in place, we are sure that the future complaints will reduce in number.
The buyers who have invested in real estate projects can secure interest at SBI lending rate + 2% per annum for delayed possession. The buyers will be in a better position to seek softer loan terms from the lenders now. As of now when the home loan interest rates have come down considerably.
Impact on Brokers ● The broker shall be liable to a penalty of ten thousand rupees (10,000) everyday in case of default. It may cumulatively extend up to five percent (5%) of the cost of plot, apartment, land or buildings, as the case may be, of the real estate project, for which the sale or purchase has been facilitated as determined by the Authority. ●
Impacts on Buyers ● There will be more accountability and compliance from the developer’s end as RERA renders brokers, agents and developers punishable if they do not comply and abide by the regulations.
The push towards timely delivery is possibly the biggest benefit for homebuyers because non-delivery of projects has been a major concern.
In case of any further indulgence in unfair trade practices, a broker can get an imprisonment of 1 year. Up to 5 % of the property cost for non-compliance with the orders of REM. Up to 10% of cost, imprisonment of up to 1 year or both for non-compliance with the orders of the Appellate Tribunal. It is hoped that the new law RERA will bring trust and transparency in Real Estate Sector in India. It is further hoped that this Act will ensure healthy and ordinarily growth of the Real Estate Sector. ❐ —The author is Founding and Managing Partner of Anand Law Practice. He can be reached at KamalKAnand@yahoo.com, firstname.lastname@example.org september 2017 | india empire 23
beginning of end or End of beginning by Dinesh Bhugra
lmost three years ago on taking up the Presidency of the World Psychiatric Association, representing over 2.5 lakh psychiatrists around the world, we set on a journey together to raise the profile of some themes related to mental health of underserved populations but also focusing on mental health of women facing interpersonal violence, children’s sexual and emotional abuse; prisoner mental health care and mental health promotion. Various policy documents and training curricula have been developed in all these areas but also on lesbian, gay, bisexual and transgender (LGBT) individuals; migrant; mental health; individuals with intellectual disability and their mental health while those for the elderly is under development. All these documents and films developed by Avdesh Sharma on mental health promotion are available on the WPA website (www.wpanet.org). September 4 of each year has been identified as ‘World Mind Matters Day’. In 2015, the WPA launched statements on migrant mental health. This had major implications as globally there are several million migrants, refugees and asylum seekers. The ‘Second World Mind Matters Day in 2016’ focused on our findings from a global survey. Looking at the legal system across 193 member states of the United Nations we studied discrimination against persons with mental illness in four areas: political, social, economic and personal in the laws of each country. The levels of discrimination remain frighteningly high across the globe. Nearly one third of the countries do not allow people with mental illness to get married. Fewer countries provide supported employment or right to vote. As a result of these findings, the WPA produced a Bill of Rights. Over 60 organizations around the globe have signed up their support for this. This Bill of Rights was launched in the House of Lords in London in October 2016. The logo of Blue Butterfly is the campaign symbol for Social Justice for People with Mental Illness3. A special issue of the International Review of Psychiatry4 has published these findings in details along with examples of minimum standards of service as well as examples of good clinical practice. As examples of learning a series of Round Table events were held on migration, on violent radicalisation and early interventions in psychiatry. Prevention is always better than cure. A series of WPA Position Statements on migration, training of psychiatrists, post-natal mental health, homelessness, high quality training in psychiatry, on five reasons to be a psychiatrist, on gender identity and same-sex orientation, attraction and behaviours, on environmental sustainability, on recruitment in psychiatry, on suicide prevention, on preventive psychiatry, and 50 india empire | september 2017
on spirituality and religion in psychiatry have been launched and all of these can be accessed on the WPA web site. On International Children’s Day in 2016, WPA launched a Bill of Rights for Children and Young People. On International Women’s Day in 2017, WPA launched a position statement on perinatal mental health. Globally English remains predominant language in sharing research findings which means that often excellent papers published in other languages do not reach English speakers. In order to change this, papers have been translated from Spanish, Portuguese, Italian and Russian languages. The question is often raised as to what are the roles and responsibilities of the psychiatrists in the 21st century area. We set up a collaborative WPA-Lancet commission on psychiatry. The report of this Commission is almost ready and will be available in October this year. WPA established a number of WPA collaborating centres in London, Naples, Nairobi, Cape Town, Cairo, Hong Kong and Bangalore focusing on training, research or policy and will also act as repository for information for the region. Thanks to Dr Avdesh Sharma we now have 4 excellent WPA Goodwill Commissioners to help disseminate messages on mental health promotion. These include Mohan Agashe (psychiatrist and film actor/director); B.K. Shivani (a spiritual leader); Suresh Oberoi (International actor) and Kunal Nayyar (International actor) who have very kindly consented to take on this role. This is the beginning, not the end of the beginning or even the beginning of the end. We have a long way to go and we need every single person’s support to share knowledge about mental health and mental illness so that everyone can function to the best of their abilities. Mental health is everyone’s responsibility and is far too important to be left only to the professionals. We need to have components of the entire community come together to talk about mental health share experiences, be open about it and learn from each other. Everyone needs to learn how to value their own mental health and of others around them. Working with communities to prevent mental ill-health and working with policymakers to help develop policies which provide equitable services to all irrespective of need in a model of universal healthcare are essential. Discrimination on the basis of gender, religion, sexual orientation and mental illness must be eliminated. Proper funding for research and services is needed urgently if next generations are not to suffer. It would then be possible to be in a world where we can cherish and treasure ‘Mental Health for All, for Life’. ❐ —Professor Dinesh Bhugra, CBE, President of the World Psychiatric Association
COLUMN: YOGI ASHWINI
MIND AND BODY
bE CAREFUL ON THE Path
s you progress on the path of yoga, in the abode of Shiv, the first encounter is with pret. Prets are among the ganas of Shiv, and by their very nature they try to prevent you from moving further in. They distract you and attempt to put you off the path. Those of you who are sadhaks must have heard from people around you that you should not do dhyan. Often there is a hue and cry in the house when a family member wants to go for a dhyan session. The path of yoga or dhyan is the path of few. There are few who want to access the real, that which does not change and that which is eternal. Majority spend their life chasing the unreal—collecting the temporary aspects of physical life. All those who prevent you from walking this path of reality are pret only, after leaving the body, they will be found in pret yoni. Let me give you an example here of a husband and wife who practice Sanatan Kriya at Dhyan Foundation. Both are extremely dedicated sadhaks. The husband had been keeping ill when he came, but after starting the practices, his health improved tremendously and he started glowing. At a recent havan at Dhyan Ashram, he reported having darshans of certain devs and devis. A complete non-believer, he was himself surprised at what was happening and how things were suddenly falling in place for the two of them. But then, shortly after, he told his wife to stop coming for dhyan sessions. The wife was shocked and told me about the situation. I enquired if there had been any uncanny occurrences in their house lately. She said, ‘yes, at night, sometimes the doors start banging on their own…’ The growth of the couple was vertical, within a very short span of time they had traversed the journey from here to there…and so the first encounter was with a pret. It is the nature of prets. They will not let you enter for their thought pattern is, “Shiv is ours.” They will lure you and also threaten you in the form of a family member or friend; they will poison your mind, that’s the job of a pret. When this happens, whenever you face a resistance from those near you or there is a disturbance, you can be sure you are walking the right path and you have entered the territory of prets. At that time, one should not give in to the attempts of the prets and continue on the path undeterred. After sometime, the prets will go away. Yoga is not about talking big, it is the path of experience. When that experience happens, the glow is evident in you and is there for all to see. If even after that experience, you choose to tread the path of maya (unreality), then there is no bigger fool than you. It is the pret which is influencing your buddhi. In my initial years of practicing yoga, when I would sit in dhyan, friends/ neighbours would start playing music or banging doors. In social
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By Yogi Ashwini
gatherings, they would make fun of me and try to dissuade me. I bore such distractions for over ten years, there was resistance from all quarters. It is the prets at work. I did not let it affect me, my path was clear. I had had the experience, and after that experience I could not disrespect those shaktis by changing my path. The prets may trouble you in any form—your friends, relatives, parents, children, siblings, spouse or your own thoughts. Therefore before listening to anyone, discretion should be exercised. Shastras say listen to parents, but shastras also narrate the stories of Prahlad and Hiranyakashyap. If Prahlad had listened to his father, what would have become of Creation. Meghnaad listened to his father, and so despite being powerful enough to captivate all three—Ram, Lakshman and Hanuman, he was slain. Both Prahlad and Meghnaad got moksha, but Meghnaad experienced downfall in physical life. Before giving into your parents or spouse or relatives, you need to see what your role in Creation is. Meghnaad had no role in Creation, there was no requirement for the phenomenal shakti he had, so he went back. Prahlad, on the other hand, had to carry forward the message of Vishnu. So despite resistance he continued on his path. With the change in yugs, and downfall in creation, each one is responsible for his/herself. It is up to you where you want to reach. If someone tries to prevent you from walking the path of reality, then you must ask them the reason. What is it that is wrong in yoga? It prescribes not to lie, not to steal or collect, is that what is wrong? Or is sitting in silence which is wrong? I can understand resistance, if you are going for yoga and in the name of yoga, rave parties are happening like music and dance or you are being asked for money or being told to go against your family, but if you are experiencing subtler dimensions and having experience of Gods and Goddesses, then you must definitely ask, and not just ask, but think yourself that why you are being stopped from performing a yagya or sitting in silence. Stories from puranas are full of instances where sadhaks and practitioners are being prevented. Examples of Mirabai, Prahlad and Rishi Vishvamitra are glaring. The Narsingh avatar of Vishnu was to explain that even your near and dear ones can be wrong…anyone who takes you away from reality is wrong. The purpose of an avatar is to guide us on the right path, to give us direction. Avatars are an exception. But if you have had your experience, and if still you choose to listen ❐ to the prets, then you pave the path for your descent. —Yogi Ashwini is the Guiding Light of Dhyan Foundation and can be reached at www.dhyanfoundation.com
pictures ÂŠ sipra das
Above: Prime Minister Mr Narendra Modi and Union Minister Ananth Kumar in Parliament during the election of Vice President of India
Left: Prime Minister Modi delivers his Independence Day speech from the ramparts of Red Fort
Mr Muppavarapu Venkaiah Naidu is sworn is as Vice President of India by President of India Mr Ram Nath Kovind
september 2017 | india empire 55
pictures ÂŠ sipra das
Union Minister Narendra Singh Tomar wears a sporting smile as he gets into his official car
Union Minister Smriti Irani is all ears
Union Minister Ravi Shankar Prasad breaks out into a broad smile
Union Minister of State Babul Supriyo before shutterbugs
Ms Kirron Kher, MP, takes a call
LEFT: Union Minister of State Mr S S Ahluwalia poses for the camera. RIGHT: Senior Parliamentarians from the Congress Party, Renuka Chowdhury and Mohsina Kidwai (right) share a light moment 56 india empire | september 2017
Published on Sep 1, 2017