The 10 Outstanding Real Estate Companies to Watch in Bengaluru

THE RIGHT CHOICE BUYING V/S RENTING SPACE

The 10 Outstanding

EAL ESTATE Companies To Watch in Bengaluru

2020 VOL. 09 ISSUE 06

From the

EDITOR

FIXING THE GROWTH CURVE

T

he casualty list due to the Coronavirus pandemic continues to grow. Apart from human life, it is the economy that is suffering the most.

Lockdowns - complete and partial, put economic activities to a halt for a while. However, as it is with human life and their spirit, the bounce back is inevitable. As the country opens up for activities and people realize that precaution is the only way forward, most of the business sectors are looking forward to a slow recovery. Real Estate is one of them.

As the festive season approaches, hopes are high that the real estate scenario will improve and the sector has been pulling itself together to meet the expectations.

The first challenge was getting the workforce back to the grind. The lockdown saw them leaving for their hometowns as they had no work and survival without it was difficult. However, some managed to retain their human resources, took care of them in these dismal times so that a quick recovery can be ensured when the activities resumed. Hence, most construction sites have managed to either hold back or call back most of their employees.

The second challenge was to change the way real estate worked. Technology, once a sidekick, became the real hero. So, developers had drones taking aerial surveys of sites. CAD/CAM, BIM and other software are taking care of designing and drawing.

The third challenge is reaching out to customers. Here again, technology is leading the way. Drones are utilized to send live status updates to customers who wish to see the way the property is shaping up. For prospective buyers who cannot visit the sites, 3D models are being rendered to give them a better understanding of the final look of the property.

Relaxed payment schedules, discounts, facilities like online registry will also help customers invest.

Overall, the real estate sector is looking forward to living up to the expectation that was made of it when

the year started. It is early to say if they will achieve the feat, but the sector is all geared up to make the most of the time at hand. In this issue of Insights Success, we bring you “The 10 Outstanding Real Estate Companies to Watch in Bengaluru”. These wellestablished companies understand the market trends and how to adapt to the changes that suddenly seem to disrupt the growth juggernaut.

This edition features CoEvolve Estates Pvt. Ltd, a real estate company that embraces environment-friendly methods for construction;Deccan Group, a company delivering quality homes with premium facilities while offering properties free from any legal hassles; Disha Habitat Ventures, a widely reputed and professionally managed organization that operates in the business of mid-range apartments in Bengaluru; DivyaSree Developers, one of South India’s most reputed urban infrastructure providers with over three decades of business excellence and recognition under its belt; and Embassy Industrial Parks, a company offering seamless solution to industrials by building industrial parks.

We would also like to applause the contributions of 42 Estates, Century Real Estate Holdings, Vakil Housing Development, Axis Concept and Kolte Patil to the industry.

Do go through the insightful case studies penned by industry experts and articles by our in-house editors.

Happy Reading!

Sneha Sinha

INTERVIEW WITH INSIGHTS SUCCESS

CONTENTS 08

DIVYASREE DEVELOPERS Changing the Real Estate Landscape of South India

DECCAN GROUP

DISHA HABITAT VENTURES

The Amalgamation of Contemporary Luxury and Traditional Beauty

The Trust Diligence Company

14

22

CASE STUDY

COVID-19

SAAS

INTEGRATED TOWNSHIPS

a Kick-start to the Second Homes Market?

Technology to Boost Real Estate Uptake

Weathering the COVID-19 Siege

18

32

ARTICLE

THE RIGHT CHOICE

EMBASSY INDUSTRIAL PARKS

36 Buying v/s Renting Space

26

COEVOLVE ESTATES

Constructors of Highly Functional Industrial Parks

Building Premium Sustainable Homes and Properties

28

34

Editor-in-Chief Pooja M. Bansal

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DivyaSree

Developers Changing the Real Estate Landscape of South India

W

ith over three decades of business excellence and recognition under its belt, DivyaSree Developers is counted among South India’s most reputed urban infrastructure providers. Since its inception in 1975, DivyaSree has played a pivotal role in evolving real estate landscapes across Bengaluru, Hyderabad and Chennai, creating infrastructure that has set industry benchmarks. It is a 600-strong, multifaceted, multi-cultural workforce, currently expanding its footprint in the new key markets of Mumbai, Pune and the National Capital Region.

DivyaSree’s core strengths are formidable planning skills, strategic thinking, market insights, continuous innovation, technical expertise, global exposure, asset management skills, and focus on achieving the highest level of client satisfaction. These have resulted in an exceptionally steep growth curve over recent years, with 99% occupancy across a commercial portfolio that encompasses over 150,000 workstations. This includes five “Grade A” operational business parks, eight Fortune500 companies and over 70 Blue Chip clients. Completed projects measure over 27 million square feet, and more than 13 million square feet of memorable spaces are in the making.

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An elite team of DivyaSree is spearheaded by its Chairman and Managing Director, Dr. P. Shyama Raju, and its MD, Bhaskar N. Raju.

In an interview with Insights Success, Mr Bhaskar N. Raju shares his valuable insights on how the company is constantly innovating and delivering superior services.

Below are the highlights of the Interview: What are the different products and services provided by the company?

DivyaSree delivers world-class spaces which, being relevant to customers, become memorable.

• Office Spaces: Information Technology Parks, built-to-suit campuses and other commercial developments • Residential Spaces: Uber-luxury residential villas and condominiums, high-end and mid-range apartments, gated communities and specialised residential offerings like senior living spaces • Mixed-use developments • Asset management services We are also diversifying into student housing, coworking and warehousing space development.

What makes you a unique player in this field? Kindly explain to us your advantages/ distinctive features over your peers.

Our corporate persona is: • Innovative: Our reputation and the awards we have received tell the story • Trustworthy, Ethical, Loyal and Client-centric: A high percentage of repeat business and multi-location clients speaks volumes • Confident: We are willing to take risks to deliver on our promises • Passionate: We get seemingly impossible things done for our clients • Flexible: We are able to change with evolving markets • Agile: Quick turnaround times are our forte • Quality and Sustainability driven: Our eye is always on the future • Responsible: We are a corporate with a conscience What kind of future advancements do you expect in the real estate industry, and how well equipped are you to face those changes?

The real estate industry is dynamic and innovative, with the players continuously evolving. The easy accessibility of information has

2020 SEPTEMBER | 09

increased customer awareness of global design quality and state-of-theart construction technology. The industry today is witnessing an explosive growth of new trends focused at reducing time, conservation of natural resources and long-term cost efficiencies. This revolution, in part driven by informed end users, also enthuses and motivates us to innovate as well as to incorporate new initiatives all along the project development cycle. Technologies such as Internet of Things (IoT), Building Information Modelling (BIM), robotics and 3D printing, drones, and immersive VR/AR technology would also play an important part.

At DivyaSree, such early adoption and innovation has helped us in pushing back the limits, making it a truly exciting time in which to innovate, adapt and evolve to connect with tomorrow’s customer.

What is the most important project the company is working on right now, and how are you making it happen?

We consider all of our projects to be equally important, whether large or small, whether past, current or future.

A look at some of our multiple-awardwinning properties: The 770 Town Centre comprises an intelligent mix of world-class commercial space and luxury residential property, inviting occupants to work and live in a seamlessly integrated, technologically superior, aesthetically pleasing environment created for them on its 60-acre expanse. This is the largest mixed-use development close to Bengaluru’s Central Business District.

DivyaSree Orion is a harmonious blend of SEZ and non-SEZ space with residential villas on its 40-acre

10 | SEPTEMBER 2020

expanse. All the commercial property has been LEED GOLD-certified.

DivyaSree TechRidge is a 55-acre commercial property with a development potential of 14 million square feet, located in Manikonda, one of Hyderabad’s most sought-after Peripheral Business Districts.

The Republic of Whitefield in Bengaluru is a glorious celebration of work, home and life, and yet another testament to DivyaSree’s decades of experience, design excellence, technical prowess and maturity in the real estate arena.

What are the key attributes that helped to overcome the challenges which were faced by the company during its establishment?

Some examples of the pioneering spirit that sets us apart: • We were one of the first developers to foray into the GovernmentCorporate Developer Partnership, building campuses for FORTUNE 500 companies in collaboration with the Government of India.

• We have the unique distinction of being the first developer of major SEZs in two prominent South Indian cities.

• We were first to deliver a captive power generation plant for an IT Park.

• Though we only recently forayed into residential development, our innovations like Twin Apartments have already made us a forerunner in introducing new residential concepts.

The relationships we have built with corporate and residential customers have stood the test of time, with an encouraging percentage of customers buying into Brand DivyaSree multiple times. Some reasons for this: • We have stayed aware and ahead of changing industry trends and customer needs • We have evolved by incorporating customers’ feedback, suggestions and even their vision • We have explored and adopted exciting technological advancements to create systems that ensure comfort, quality and sustainability Some Brand DivyaSree attributes, in the kind words of our associates and customers: “Your professionalism and customercentric obsession has truly

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distinguished DivyaSree Group.” - Juggy Marwaha, Jones Lang LaSalle “Your team has helped create immense value for clients and establish lasting partnerships.” - Ram Chandnani, CBRE India “The involvement of the entire management team in ensuring end-to-end support is truly commendable.” N. Krishnaswamy, EYGBS (India) “DivyaSree became the obvious choice for us with their willingness to support our unique needs, and a never-say-no attitude.” - Venkatramana B, Landmark Group How do you see yourself and the company in the future?

Our vision is to establish ourselves as the leader in our

“

OUR VISION IS TO DELIVER SPACES THAT ARE NOT JUST FUNCTIONAL BUT INTELLIGENT, DISRUPTIVE AND EXPERIENTIAL

“

existing markets, and to explore new geographies to extend our footprint and success story. We are well on our way to becoming a Preferred Place to Work.

We wish to build thriving and healthy communities across our verticals – residential, corporate, mixed development and specialised spaces – and to spearhead technological advancements in the industry, so as to make our spaces more relevant and focused on user experience.

Having delivered nearly 27 million square feet of residential and commercial spaces, we aim to double the size of our portfolio within the next few years, leveraging our extensive land banks across the cities in which we operate. The journey ahead will be exciting, and the spaces we create along the way will certainly be memorable.

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2020 SEPTEMBER | 11

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DECCAN GROUP The Amalgamation of Contemporary Luxury and Traditional Beauty

‘Customer is the BOSS’ - By Earl Nightingale

C

ustomer demands of the housing segment are tilting towards affordable yet luxury and traditional housing segment. In-pocket luxury as well as convenience, has emerged as a new perception. Finding a middle ground between affordable housing with modern setting, it is meeting the modern expectations of consumers. The qualities that match the comfort standards, has thus made it potential to be owned by consumers.

Infrastructure, amenities, nearby places, available conveyance have tagged along with the traditional attributes such as size and location in the affordable luxury housing segment. Finding the right balance between nature, modernity, fitness, and well-being is what Deccan Group is all about. Delivering quality homes with premium facilities while offering properties free from any legal hassles, and a lot more is offered by the Deccan Group.

Laying the Ground Right from project planning to project delivery, an organization has to have a determined and robust workforce. The Deccan Group is equipped with a team of profound professionals who strive for an impeccable project delivery. The project team has developed rigorous practices and double checks all the important aspects related to the project.

Notably, to customize according to the customer expectations and avoid issues after delivering the property, the team executes its tasks with a unique approach. It encourages

14 | SEPTEMBER 2020

its customers to share their specific requirements which it tries to integrate and create a home as per their requirements and lifestyle.

For smooth operations, the construction progress and day-to-day activities on the site are closely monitored by the eminent members of the board Mr. Ranganath, the Founder & Managing Director along with the CTO, Mr. Shankarappa. They incorporate latest construction techniques to achieve highest quality standards. Their innovative ideas and constant guidance has made Deccan Group a customer-centric firm.

There is a huge gap between values and cultural tastes among different people. But, Mrs. Saritha Reddy, the Joint Director of Deccan Group believes, its very important to bring-in a sense of like-minded neighbors.

She believes it can promote emotional wellbeing and imbibing a sense of harmonious dwelling. Thus, suiting their lifestyle and specific requirements, she has ensured that projects are designed with independent towers and with limited homes on each floor. This approach facilitates its residents to live with like-minded neighbors and brings together a community of residents who are leading industrialists, doctors, senior corporates etc.

Interestingly, some customers for instance, demand larger BHK or an open kitchen or even an extra space for prayer. Mrs. Saritha ensures that the customers interests are not hampered thereby following the norms setup by the organization.

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10 Outstanding T h e

Real Estate Companies To Watch in Bengaluru

“

Deccan Group has carved a name that inspires confidence built on trust and professional commitment

“

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2020 SEPTEMBER | 15

Serving the Purpose

Approaches Underpinning Growth

Mr. Ranganath, founded Deccan Group with a vision to deliver quality homes at the best value for money that would have clear legal titles to the buyers. Under his supervision, his team constructed many small projects during the 90’s. The projects gradually attained recognition for their approach and unique facilities, and made the company a prominent name in the real estate industry that it is today.

The organization ensures that the residents live a healthy lifestyle. Everyone is aware of the fact that, exposure to sunlight is an important health essential, but is hampered in today’s modern-day home settings. Keeping in mind the importance, architects who are assigned the projects, plan the projects ensuring all homes get maximum sun light.

A lot more aspects like privacy, no common walls theme is worked upon. Homes are designed as per the principles of VAASTU and directions. Many important elements like Master BHK in Kubera moolam, Kitchen in Agni moola and no washrooms in any corners which are the basic science of Vaastu are strictly followed. These settings are highly admired and appreciated by the clients.

Mr. Ranganath and Mrs. Reddy have witnessed the constant change in the industry and the buyers needs which enabled them to alter their properties as per the buyers preferences.

Mr. Ranganath’s polices and his business practices have given Deccan Group an edge over competition. His wellplanned strategies that enabled effective constructing costs, avoiding construction finance, lower overhead cost, and customer loyalty have empowered the group with better returns.

Mr.Ranganath and his team is active in the fraternity and CREDAI. He has remained instrumental in projecting the industry problems to government agencies and benefiting the fraternity at large.

Mr. Ranganath and Mrs. Saritha Reddy feel, “This industry is among the few industries that would enhance buyers’ money by increasing the value of their assets”. They feel, “most of the buyers would be happy and they tend to continuously invest in real estate that would improve the real estate market and also their individual wealth on a long term.”

Quality Standards Ensuring Transparency The procurement team ensures that all the materials and products that are utilized during the construction are of standard quality. The materials are tested by third party labs. The organization, to maintain the quality standards, has partnered with leading brands like Schindler, Anchor, RAK, Aashirwad pipes, Kajaria and Jaquar to deliver quality homes to residents.

Deccan Group strives to deliver qualitative services complying to the standards authenticated by top quality certifications. It is ratified by ISO 9001: 2015 standards in all its operations and safety standards. All the projects strictly follow the norms of state Pollution Control Board, Environment and Forest standards, and Fire norms.

Prospects for Improvement

Resident Amenities For a buyer, when it comes to searching for a home, its location is the most decisive factor. Thus, every project undertaken by the Deccan Group is located at ideal locations within the city limits. Most of the projects are developed on the company owned land that assure of fraudulent free operations during the construction which allows a hassle free as well as timely delivery.

Deccan Group always focuses on creating and delivering homes with advanced features be it security, convenience or modern day needs of clients. Considering the facilities provided through one of its project, ‘Deccan Habitat’, the residents are provided advanced security features and provisions for smart homes. Due to the provisions of smart home, the residents can handle their visitors on their mobile phones and provide access to their guests from any part of the globe.

16 | SEPTEMBER 2020

To date, Deccan has facilitated residential developments, but in future it has planned a series of hospitality developments that would fuel up its residential progress.

There are few commercial developments that the group has planned to undertake.

Millennials earning high income are the new targets of Deccan Group for their affordable Luxury homes. The new segment is affordable luxury homes, on important locations near to metros, SEZ, major ring roads and shall have all the lifestyle amenities required for the family.

From budget homes and functional apartments to luxury houses, there is something for everyone, Click Here http://www.deccan-group.com/

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COVID-19 a Kick-start to the Second Homes Market?

Santhosh Kumar Vice Chairman

18 | SEPTEMBER 2020

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Case Study

• WFH option, ‘cabin fever’ and increasing safety concerns re-igniting urban India's interest for homes away from home • Rental income no longer the middle-class’ prime motivator for second homes, CXOs and businesspeople scanning the market for condos and farmhouses • Alibaug & Karjat near Mumbai, Lonavala & Lavasa near Pune, Nandi Hills near Bengaluru among the prominent second home destinations with multiple options across budgets

Second Homes - The Middle-class Viewpoint

The COVID-19 pandemic may be giving a new lease of life to the previously lacklustre second homes market. Urgent travel to motorable holiday destinations brought on by prolonged travel abstinence and outright claustrophobia is only one aspect. ‘Revenge tourism’ has helped the hospitality sector in motorable holiday destinations around the large cities.

Their focus is on leveraging the lower property prices in such locations to get bigger homes in greener, safer surroundings.

However, the pandemic has also left a deeper impression on urban homeowners who are reconsidering their housing options.

The hope of owning a second home within salubrious, green surroundings is very much part of the overall Indian ethos. However, while short breaks from city life, rental income and/or eventual retirement there were the previous aspirations, the COVID-19 outbreak has given rise to a more urgent motivation - the relative safety from infection of homes away from the urban hot zones.

For those with the financial means, it is certainly an optimal time for such an acquisition.

• The work-from-home option, now extensively available across many industries • Rock-bottom and often further negotiable property prices • The lowest home loan interest rates in two decades • In states like Maharashtra and Madhya Pradesh (and possibly also Karnataka) significantly reduced stamp duty and registration rates • These pandemic-motivated fiscal benefits come with built-in expiry dates, and this lends a level of immediacy For families who previously budgeted for and splurged on annual holidays, the options for such travel have narrowed down considerably. The future is uncertain, and the paranoia is real. As a result, second home aspirations are now being dusted off and considered seriously.

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For the second homes market, which had been in the doldrums for years on the back of a slowing economy, this may turn out to be a windfall. Second-home buyers are no longer considering rental income and future appreciation, for which the outlook continues to be dim over the next few years.

The option of moving to such a property permanently is not being ruled out. In previous times, renting the property out would have been a second homeowner’s primary plan.

However, technology-driven trends have now given rise to another option - that of converting the property into a homestay while not in use by the owner.

Even before COVID-19, a huge number of travellers preferred homestays over formal hotels. The new compulsions of the coronavirus pandemic have added a new level. Online homestay aggregators make the process simple, pain-free and - depending on the second home location - potentially lucrative.

Second Homes - The HNI Perspective For all the COVID-19-induced reasons above, HNIs like the corporate C suite and start-up entrepreneurs are also back on the second homes market. However, unlike the middle-class, their sights are trained on sprawling luxury properties and farmhouses near cities as alternate living destinations. Real estate has always been an important diversifier in HNI investment portfolios - now, amid a pandemic that has shaken up the financial and stock markets, it remains a reliably stable asset.

In terms of their preference, luxury second homes at a commutable distance from their primary residences top the wish list. Most HNIs have inescapable business obligations in the main city. While motorable distances would be important for many, the ultra-rich can also settle for a convenient helipad or private landing strip. Needless to say, this opens up their options considerably.

2020 SEPTEMBER | 19

However, the spread of desirable second homes options is obviously smaller for such buyers as many of them focus on rare beachside or mountain-top trophy assets.

Preferences and Price Points Several locations outside top cities have been viable second-home destinations, with their audience niches. The outright luxury havens serve the affluent, while the middleclass mostly sought properties close to or even within urban areas which can potentially earn a steady rental income.

While HNIs’ outlook has not changed much, the latest trends for the middle-class are markedly different. The coronavirus pandemic has thrown up the WFH angle, wherein separate home offices play an integral part even as all other second home requisites of greener, cleaner surroundings, less cluttered remain the same.

Average prices in major middle-class-favoured second home destinations around the top cities range anywhere between INR 3,000 - 12,000 per sq. ft. Depending on the buyers’ ability, the average area of these homes usually begins at 2,500 sq. ft. and can extend to INR 10,000 sq. ft.

• In Bengaluru, emerging hotspots for second homes include Nandi Hills and Jigani area near Bannerghatta National Park. in projects offering expansive green spaces, the average property value in Nandi Hills ranges from INR 6,000 - 11,000 per sq. ft. while in Jigani area it is between INR 4,000 - 8,000 per sq. ft.

• Near Chennai, major second home hotspots include Mahabalipuram and Kovalam Main Road on ECR with beach-front properties. Avg. prices in the former location are INR 4,000 - 7,000 per sq. ft. while in the latter they range between INR 5,000 - 7,500 per sq. ft.

• In Hyderabad, Srisailam Highway and Kadthal are favourite second home destinations. Avg. property prices here range between INR 4,000 -6,500 per sq. ft. and INR 3,000 - 5,000 per sq. ft. respectively.

• In Mumbai, Alibaug and Karjat draw a major chunk of second homes demand. Avg. prices in Alibaug range between INR 6,000 - 12,000 per sq. ft. In Karjat, they are fairly lower at INR 4,000 - 7,000 per sq. ft.

• Pune shares with Mumbai some of the demand for second homes in Lonavala, where prices range between INR 6,000 - 11,000 per sq. ft. In the man-made hill station of Lavasa, the avg. prices range between INR 5,000 - 9,000 per sq. ft.

City

Major Hotspots

Avg. Price Range (In INR /sq. ft.)

Bengaluru

Nandi Hills Jigani

6,000-11,000 4,000-8,000

Mahabalipuram

4,000-7,000

Chennai Hyderabad

Kovalam Main road on ECR Srisailam Highway

4,000-6,500

Kadthal

3,000-5,000

Alibaug

6,000-12,000

Amby Valley

4,500-8,000

Karjat

4,000-7,000 5,000-9,000

Mumbai

5,000-7,500

Lavasa Lonavala

6,000-11,000

Mapusa

4,000-6,300

Goa

Porvorim

4,500-6,500 4,300-7,000

Delhi

Vasco Da Gama Farmhouses at Chhattarpur, Mehrauli-Gurgaon Rd (Sultanpur)

Pune

20 | SEPTEMBER 2020

For the ultra-rich eyeing opulence in prime holiday locations, the sky is obviously the limit. Deals have been closed over INR 200 Cr in some locations, most notably on Goa’s fabled beachfront and in the elite second home reserve of Amby Valley.

For both the affluent and middle-class denizens whose jobs have not been affected beyond a pay cut, second homes are now a tantalizing vision of shelter in the time of storm – and a rebooted lifestyle which would have been considered neither feasible not possible in pre-COVID-19 times.

INR 10 Crore to INR 100 Crore

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DISHA HABITAT VENTURES The Trust Diligence Company

impression. Delivering quality homes, with premium facilities while offering properties free from any legal hassle, a lot more is offered by the Disha Habitat Ventures Pvt Ltd. Trust and transparency are the cornerstones of the company, which the customers vouch for.

The Professional and Thoughtful Company

H

ome is the basic need and a dream everyone aspires for, those who have accomplished certain goals and even those who haven't. For an individual, choosing the right home is often a lifetime decision, primarily based on factors such as budget, infrastructure, amenities, location, and available conveyance.

However, the most important factor that the buyers look for is transparency and trust, as the transactions are often complex and involve legal formalities that buyers may not understand until its too late. Thus, equally important is promoting fair play in real estate transactions, and ensuring timely execution of projects.

This ensures a long-term association amongst the customer and developer, as he not only buys a product but a service as a package. Sharing all the information of the project with the customer in a transparent manner assures the customers of them taking an informed decision and awareness about the underconstruction project.

There are several real estate companies mushroomed in every part of the country, but only few have created an everlasting 22 | SEPTEMBER 2020

Disha Habitat Ventures is among the leading reality and infrastructure companies in India. A widely reputed and professionally managed organization, the company currently operates in the business of mid-range apartments in Bangalore.

With its motto of improving the lifestyle standards of people through creating state-of-art facilities and projects, Disha Habitat is committed to undertake challenging tasks with increased focus and dedication.

Alongside working with leading architects who fulfill the customer’s dreams, technology plays a central role in each of its undertakings. Disha, uses project management software for real time monitoring of the construction progress, as well as works with a top-ofline Structural Design & MEP Firm called Cratis Designers.

The Dream Project Disha Habitat Venture has to-date delivered three landmark projects in East Bangalore with highly spacious and impeccable quality standards. Having

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10 Outstanding T h e

“

Real Estate Companies To Watch in Bengaluru

When it comes to living life in all its glory, nothing paints an image as stunning as Disha Courtyard

“

delivered excellence in its previous ventures and lessons learnt from the past, it has continued its progress working on the existing project- ‘Disha Courtyard’.

Disha Courtyard is located in Whitefield- the most soughtafter suburb in about 4 acres of land. Delivering a mind boggling 53% undivided share of land, it provides maximum engagement space for families living here.

Disha Courtyard offers a unique combination of contemporary living in a lush park like setting in the Garden City. The apartments are designed to provide utmost convenience with the right touch of style. As a professionally managed community, Disha Courtyard is everything one expects from sophisticated apartment living.

The site has about 1000 native trees, shrubs and wildflower plantings, creating a natural and lively environment.

Interestingly, it has 30 different exciting amenities including work-spaces and guest rooms to cater to all age groups residing at Disha Courtyard.

While growing water scarcity is now one of the leading challenges in Bangalore, Disha Habitat’s progressive water management approach ensures effective water management at the site.

The Erudite Leaders Disha Habitat is at the stage where the company has acquired immense experience while at the same time retaining youthful energy and zeal.

Disha Habitat Ventures is an entrepreneurial venture by the Founders, Mr. Gunaranjan J & Mr. Rajasekhar K. They abide by the fundamental principles including trust in

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2020 SEPTEMBER | 23

relationships, transparent transactions, quality in construction, environmental focus and adherence to timelines. Their previous projects cover about five million square feet, 10+ acres of development, with over 750 happy families residing in them.

Their imagination and application have led Disha Habitat’s business blooming into almost all spheres of the reality development. Mr. Gunaranjan J & Mr. Rajasekhar K, have taken upon the mantle of furthering the company’s business to new horizons, embracing new strategies and expanding to new areas and geographies. Due to their innovative offerings, they are the most trusted and respected names in the real estate sector today.

Disha Habitat envisions continuing its journey by offering newer and innovative products both in the budget and midrange apartment space, while providing few luxury villa options in the coming years. The team is geared to surpass the shortcomings and outshine the sector this year, delivering more for the company, for itself and most certainly for its customers.

The Real Estate Scenario and Opportunities As both the leaders state, ‘the real estate industry has been one of the best performing in its asset class for decades now and has continued to flourish in India, where for people home is more than an investment’.

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Buying vs Renting Space The Ever-growing Battle for Businesses

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s the times are changing, the real estate industry in India is developing at a rapid pace. With growth rate of 30% per year since the past few years, the industry’s graph is scaling upwards. Keeping the same in mind, we cannot ignore the fact that the commercial segment in the real estate sector is also booming. Even with the advent of the Covid-19 pandemic, the demand for properties used for commercial purposes have not gone down.

The only flaming question that had gained more air during these pandemic times is whether to buy or rent a commercial space, what is better? Well, the question itself is very hefty and the answer to it is more complex.

It is true that the nature of business plays a vital role in deciding the venue of operations but there are some other quintessential factors also that have their share of participation. Finance is one of the prominent factors taken under consideration while choosing a working space. Environment and accessibility are close second.

But, to balance these all is quite difficult and once you obtain it at just one particular spot, what you get is an ideal workplace. The one you actually desire!

It all sounds great, but the question still remains; what would be more beneficial, renting or buying? Let’s go through a quick scan of the pros and cons of renting a commercial space for a better picture.

Demerits of Renting: No sense of Ownership - When you are renting a space, you can forget about planting a money plant in the corridor, or any plant for that matter! There are some set rules and regulations by the landlord which you need to follow while renting. The policies are in place for the common benefit of the premises and the users of the premises. So, as a tenant there, you hardly have any authoritative powers to change something significant while working there. It is the usual business for you in this type of situation, which is, minding your own business! Ÿ Rent Variations - The value of the premises undergoes appreciation as the time passes. The landlord has the authority to make changes in the payment plans as and when the value of the premises goes up, may it be the regular development happening around the neighbourhood or any immediate publicity the facility has garnered. The tenant only has to pay the price. Ÿ

It is quite clear that renting a space has its own factors that you must consider along with going through your personal obligations. But what does purchase of a commercial property look like for your business? It is time to figure out its advantages and disadvantages.

Merits of Buying:

Merits of Renting: Equity Ownership: Now you can dedicate an entire section of the floor as a garden if you want once you own a space. Buying an office comes with different benefits, first and foremost being a titled owner of the premises including all its amenities at your disposal. Plus, you can enjoy the appreciated value of the property if you decide to utilize it for just investment purposes. Ÿ Tax Benefits: Owning a commercial property can aid you in tax deductions in the form of mortgage interest, property taxes, and other charges. You can show it as an associated cost for running a business Ÿ

Flexibility – Renting a space facilitates utmost flexibility in payment options, location, and property maintenance. It becomes easy for the entrepreneur to manage things and focus more on the development side of the business rather than operations. Ÿ Enables Co-working – Even though co-working is a new concept in the market altogether, it is nonetheless, a trending one! To mitigate costs and share interim knowledge amongst various professionals along with a workspace even though people are involved with different business verticals can be very helpful in the future endeavours. It can also lead to joint ventures. Ÿ

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THE RIGHT CHOICE

Demerits of Buying: Monetary Conflict: Buying a commercial space requires an upfront payment to the developer which can eat up a huge chunk of your business capital. On top of that, you still need to consider the maintenance costs as well that come up annually in the expenditures section of your balance sheet. Ÿ Growth Uncertainty – Imagine everything is going well and you have closed good deals garnering a lot of clientele over a limited period of time. You are growing exponentially and now, you need to accommodate your in-house team of employees more. Then, your IT guy is complaining about sitting close to the washroom. That is a troublesome case and you realize that you have run out of space. Ÿ

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Purchasing a commercial property is only good when you have a no or late plans of expanding your in-house team because fostering a healthy work environment requires ample of space. In case of sudden expansion, the existing premises just become a hindrance in the business development process.

After carefully going through these above-mentioned points, it is clear that the ‘struggle is real’ for a lot of companies. Entrepreneurs and business owners need to put their thinking caps on when it comes to the working space dynamics. The question still largely remains unresolved, but the factors mentioned above should help in clearing some or most of the doubts you might be having related to your ideal work space.

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The Frontrunner of the Company Aditya Virwani is a dynamic young professional and is the COO of Embassy Group, one of India's largest and among the finest property developers and also the spokesperson of Embassy Industrial Parks, the business that pioneered the lean model of warehousing in India.

Over the last three decades, Embassy, together with its promoters, has developed over 53 million sq. ft. of prime commercial, residential and retail space in India as well as Malaysia and Serbia. Aditya has been exposed to the world of Real estate and Property development from a very early age of 15 years. He is keenly involved with the strategy and operations of the Embassy Group and its diversified businesses, along with his father Mr. Jitu Virwani, Chairman and Managing Director of Embassy Property Developments Limited.

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EMBASSY INDUSTRIAL PARKS Constructors of Highly Functional Industrial Parks

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mall-to-medium sized manufacturers, distributors, and wholesalers have to get products to customers faster. One way of doing it is by managing all warehousing needs and transportation modes. It means that companies should be able to track, monitor and confirm the where-being of their product all the time. That makes transportation and warehousing the linchpins of any company. However, many companies face a challenge of building industrial warehouse space.

Here, is where Embassy Industrial Parks steps in.

The company offers seamless solution to industrials by building industrial parks. To better understand its peculiarities and methodology of working, we had a word with the COO of the company, Aditya Virwani. This

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10 Outstanding T h e

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interview will also give an insight into how the company eliminates the rising real-estate challenges for multinational or small manufacturers.

IS Team: What are the key attributes that helped your company overcome the challenges that it faced during its establishment?

IS Team: Kindly brief us about your company.

Mr. Virwani: The constant challenge with warehousing is the need to cater to the increasing demand. To be more specific, there is an increase in e-commerce as a mode of purchase by a larger population across different product segments in India. Secondly, India is undergoing massive urbanization and demographic change creating a huge wave of consumer demand over the next decade. ‘Next Generation’ warehousing and logistics solutions are offered by players like us who stay ahead of the time. One can be in this kind of space by being a fully compliant warehousemanagement system which serves their client’s purpose in achieving success. Flexibility is at the heart of a high leap.

Leading organizations of all sizes trust our solution, which is designed to grow with our clients and conquer the complexities of demanding sectors’ order fulfillment. We can proudly claim to be the pioneer of the lean model of warehousing. By maintaining the global standards in the infrastructure of the industrial parks we manage to provide advance technology and best quality services and be the ideal solution to our customers.

Mr. Virwani: In the last few decades, warehousing witnessed a significant transformation from a frail and unorganized structure such as godown to a well-planned and well-suited infrastructure aiming to provide a solution to contemporary business needs. This industry has substantially progressed from those days, to efficaciously make a huge difference to the manufacturing and growing e-commerce industry. The sector is evolving fast, with both the nature of the business and technology advancement and therefore undergoing robust changes. Embassy Industrial Parks was formed to help companies and businesses avoid the extra sweat by building and managing quality Grade A industrial, light manufacturing and warehousing spaces all over the country. We have started by bringing industrial parks to the key cities of India - Chakan - Pune, Sriperumbudur - Chennai, Farrukhnangar and Bilaspur Delhi NCR and Hosur and Kothur – Hyderabad, we plan to expand into other metros eventually. These modern well planned technology-enabled industrial and warehousing solutions are targeted at industry verticals like ECommerce, 3PL, Automobile Ancillaries, FMCG and Retail. Embassy Industrial Parks are built with a commitment to offering class apart experience IS Team: What are the different products and services provided by your company, setting you apart from your competitors?

Mr. Virwani: Embassy Industrial Parks was founded in 2015 aiming to meet the requirement of a well-planned infrastructure that can ensure the smooth functioning of businesses that comes with warehousing needs. We take into consideration factors like strategic land positioning that makes business more convenient. We keep our eye on attention to detail and provide globally approved amenities like rest areas for drivers, dormitories, round the clock canteen, first aid centers, 24/7 security coverage an excellent fire fighting system, ample parking space for trucks so the flow of the traffic remains unaffected and does not hamper workflow. We provide built-to-suit industrial and logistics parks where clients can have up to 2X expandability. Over and above this, our in-house facility management arm, Embassy services manage all our assets so that our clients have can only worry about business growth.

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IS Team: With the massive advancements in the Real Estate Solution Providers segment, what are the opportunities and challenges evolving with it?

Mr. Virwani: The commercial real estate sector has witnessed robust growth and created a market for global investors. Industrial and warehousing sector has witnessed consistent growth since last 2 years. There is an increased demand in industrial sector like manufacture, lift in consumer demand and a huge impact of global trade on the business. Factors like these, growth in manufacture sector, rising consumer demand, an uplift in international relations, advent of organized retail in the country, increasing private and international investments in infrastructure along with the dynamic growth in e-commerce is ought to maintain prosperity in the sector in next few years. 77% YOY growth was observed in warehouse leasing. A recently published report states that the manufacturing sector that accounts for 80% of warehousing market is estimated at 739 million sq. ft. in 2019 and is expected to grow to 922 million sq. ft. by 2024. A strategically placed and well planned warehouse not only improves the consumer services but also enables competitive advantage through efficient supply chain economics.

One of the major challenges for any real estate player is

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land acquisitions. When we consider buying 50 acres to 200 acres of land and develop it, we hope for some reforms that make this process for industrial and warehousing configuration easier. The second challenge is approvals.

Currently, the situation has definitely improved from what it was a few years back but I think we have scope for improvement there. The policies can become more users friendly. The important thing to understand here is there is that the more time approvals take; construction would delay and we won’t be able to generate revenues from the land.

IS Team: Share with us your company’s contributions to the industry and how it is helping its clients in their business growth.

Mr. Virwani: Founded in 2015, Embassy Industrial Parks brought Grade- A Warehousing at a time when warehouses were only available in an unorganized sector and emerged in the market as the pioneers of the new lean model of warehousing. Embassy Industrial Parks have gained importance across sectors today as it serves the business purpose without the need of owning it. A good warehouse is the primary requirement for businesses today and is a firsthand enabler of the global supply chain.

IS Team: How do you motivate creativity and innovation in the workspace while maintaining a healthy work environment?

Mr. Virwani: Embassy Group believes strongly in empowering people. The relationship of the company with their employees has always been trust driven and people are the asset for the company. We have programs and opportunities which encourage team members to come up

with new ideas, suggestions that help at the business level.

They are free to innovate the way things are done. The management believes in an open-door policy where any team member has access to reach out to senior management and can discuss any issue which ensures a healthy and transparent environment.

IS Team: Brief us about the current scenario of Real Estate companies and your company’s future plans.

Mr. Virwani: Real Estate companies in the current market scenario have experienced a mix of responses in terms of their projects for example a residential market has been undergoing a lot of stress especially for ticket sizes over 3 crs. and in general, the affordable segment has seen robust response to its offerings. Talking about commercial and industrial warehouse assets, the growth has been as robust as it has been in the couple of years in addition the vacancy rates are at its lowest levels since the financial crisis of 2008-09.

With respect to our existing portfolio Embassy Industrial Parks currently is at 4 million sq. ft. with 3mn that will be operational in another 12 – 18 months. Additionally, there is a pipeline of 6 million sq. ft.additional space which will total the space to 12-13 million sq. ft. Our plan is to strengthen our existing tenant base and work on repeat business deals across locations which we have been successful in doing with tenants like Stellar, Amazon and Myntra to name a few. We would like to work on these relationships to incur repeat business. Supporting our clients with expansion plans, we wish to focus on 5-6 micro markets within the country which are the demand drivers of the market currently.

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Case Study

SaaS

Technology to Boost Real Estate Uptake

Software as a service is now the key tool for developers to reduce unsold housing inventory

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ith COVID-19, real estate developers in India are suddenly faced with the need to rapidly adopt technology to get property sales going.

ANAROCK research indicates that while homebuyer enquiries have increased by more than 50% post the nationwide lockdowns, a large part of these enquiries are generated online.

This is unlikely to change soon - though homebuyers are back on the market, social distancing and overall safety concerns are still very much in place. A lot of the property discovery journey has now gone online, and developers who do not use technology to harness and convert online enquiries are at a disadvantage.

Fortunately, like many other functions these days, the technology and professional support they need can be outsourced to specialists. Enter Software as a Service, or SaaS. SaaS and Real Estate Customer Relationship Management SaaS is the key for real estate companies who want to leverage advanced software technology to drive their business. Previously, Indian real estate developers seeking a tech advantage in their business had to rely on mainstream software giants who don’t understand completely the specific requirements of the Indian real estate business.

Today, they have the option of an integrated Customer Relationship Management delivered through Software as a Service solution – or SaaS, as it is now commonly referred to - created and managed by tech-driven real estate consultancies.

Instead, it integrates several smaller software solutions into one platform.

SaaS – Focused Results • Vastly superior leads from both online and site visits, and automatically routes them to the pertinent sales manager • Elimination of the call centre approach to servicing customers. Instead, a SaaS system analyses the enquiry as well as the buyer profile and automatically determines how and when the customer prefers to be reached. At the appropriate time, the buyer is contacted by a fullyempowered and trained sales representative who will carry out all levels of interaction from enquiry to home purchase • Relevant and exhaustive information on the project or property in question is instantly shared online on-demand.

This results in zero-gap communication which leads to faster deal closure • The senior salespeople at the developer retain complete online oversight of every event from enquiry to processing and can be instantly involved in a discussion if required • Likewise, the developer has perpetual online access to channel partners involved in the project, their performance and work in progress by each operative • Time-consuming data entry is eliminated with the help of intuitive artificial intelligence (AI) which automatically records all relevant data in the appropriate systems. This information can be quickly retrieved at the click of a mouse.

• The system not only maintains a detailed track-record of ongoing marketing activities along with expenses and

In contrast to multi-modal, multinational system management services which handle a diverse number of business types, Indian real estate SaaS providers deliver integrated software solutions - customized not only to Indian real estate environment but also to individual players.

Though quite complicated at the coding and delivery end, a SaaS approach does not involve any single software platform which has to be adapted to a certain business type.

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results but also suggests more effective marketing interventions based on location, majority buyer profiles and market conditions The SaaS model eliminates the need to spend large amounts of capital on enterprise-level services. It combines the efficiency of advanced software appropriate human involvement and provides a results-oriented approach to achieving and monitoring specific business goals for the business.

How SaaS Helps Homebuyers Though highly technical at the DNA level, the purpose of software-based services is to deliver a more streamlined, satisfying experience to end-users. At its core, SaaS is a Customer Relationship Management software which makes all communication relevant - customers get only the information which makes sense to them.

Superfluous information is eliminated. Further, the system pushes multiple alerts and reminders to sales managers for meetings and site visits, who then connect with the homebuyers on-time. every time, as per the stage of home-buying process.

Finally, the SaaS system also escalates discussions to senior sales managers if the ball gets dropped by their teams. For customers, this ensures access to the senior management if and when required.

Why Current Tech Solutions for Real Estate Fail For the Indian real estate industry, the time for a SaaS approach had come long before the COVID-19 pandemic.

While many real estate developers had adopted technology at some level, they were spending disproportionately on enterprise-level software services.

To make things worse, these services are usually provided by sector-agnostic software companies who apply a generic approach to all their clients within the purview of annual contracts Also, the ‘monolith’ level of technology solutions that most software giants offer lacks scalability. Their inherent unwieldiness makes them unsuitable for adaptation to different sizes of businesses. What a real estate developer will usually wind up with is a massive software overkill requiring large in-house or off-site teams - usually of the software provider himself - to manage them.

SaaS, on the other hand, takes the onus from developers and puts it on the contracted tech firm. They get the flexibility and freedom to use high-end and customizable bespoke technology at a fixed annual fee.

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Sunil Mishra Head – Strategy COVID-19 Kick-starts Indian Real Estate’s Tech Revolution For the Indian real estate industry, the time for adopting a SaaS approach to their business is now at hand. The COVID-19 pandemic and its unique compulsions have rendered the traditional marketing approach obsolete. What developers need now is a dynamic technology-based approach geared to their businesses.

Indian real estate players are currently grappling with unprecedented unsold inventory levels in a completely transformed marketplace. ANAROCK’s latest data indicates that there are as many as 6.33 lakh unsold homes in various stages of completion across the country’s major cities.

Developers need to speed up sales and need solutions that be deployed rapidly and cost-effectively.

In the current market conditions, Indian real estate players are not only stretched for time and bandwidth - but they can also not afford massive capital outlays for services whose results they cannot effectively monitor or confirm.

By adopting SaaS, real estate developers can immediately stop over-spending and being diverted from their core area of business. They benefit from a technology platform that efficiently boosts project sales and simultaneously monitors all sales activity in real-time.

When SaaS is ‘done right’ in terms of scalability and adaptability, it becomes a major enabler for developers regardless of their size and market bandwidth, and irrespective of whether or not they possess the ability, knowledge or skill to develop their own tech-driven sales tools.

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CoEvolve Estates Building Premium Sustainable Homes and Properties

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home can be glamorous, luxurious, commodious, and fun. However, can it be sustainable? According to some of today’s most innovative designers and builders, a home can be anything one wants it to be.

Starting from construction to design features, the future of real estate is pointing in the direction of sustainability.

It is well known that increasing pollution, harmful gas emissions, the millennial lifestyle, and the entire process of building projects are the greatest contributors to global warming. Hence, it is mandated to construct buildings that support our natural ecosystem.

umpteen number of legal hassles that most home buyers have to deal with. His vision was to set up a company that runs ethically providing legally compliant homes and properties with crystal clear documentation. Thus arose the company's motto ‘Built on Ethics. Built to Last.’

Over the past 15 years, CoEvolve Estates has grown leaps and bounds. It has delivered over 1.5 million square feet of living space spread across luxury villas, apartments, budget homes, sustainable green buildings and plotted developments.

An Unconventional and Unique Purpose

Once considered as a trend in home building and design, sustainable or eco-friendly homes are here to stay.

Developers, today are taking a conscious step to curtail the use of natural resources and other natural elements, and are instead finding ways to replace them.

Featured in this edition is CoEvolve Estates Pvt. Ltd, a real estate company based out of Bengaluru, that embraces environment-friendly methods for construction. Staying ahead in the competitive real estate space can be challenging, and CoEvolve Estates has taken this challenge by exchanging the greens for concrete.

Redefining Real Estate No matter how many reviews one will read or photos one would see, nothing will prepare you for the real experience of CoEvolve Estates’ homes or properties. “We strive to build a world with awareness of the interconnected nature of our existence, where creative innovation evolves into living beyond sustainability,” is the mission statement of CoEvolve Estates. It has carved a niche in the firmament of the Bengaluru Real Estate & Development sector.

However, the real question is how does CoEvolve fit into the jigsaw of real estate and how the journey of CoEvolve commenced?

The journey began in 2005 when the Founder and Chairman, M. A. Rahiman stepped into the real estate business to provide credible housing solutions without the 34 | SEPTEMBER 2020

We now know the ‘how’ but, not ‘why’ did CoEvolve Estate achieve such superlative success in the real estate realm. Based in Bangalore, one of the fastest-growing cities in Asia, CoEvolve Estates’ CEO, Suhail Rahman, realized at an early stage, the responsibility we have towards the environment. In the recent past, the garden city, began to lose a lot of its greenery, giving way to industries and software parks. Bangalore is also predicted to run out of groundwater in a few years. This change in the dynamics of the city also affected the quality of life within homes.

Mr. Rahman decided to take small steps to protect mother nature while also providing the best home-owning experience and thus CoEvolve Estates emerged as an ecofriendly savior.

An Investor in Nature At the helm of this close-to-nature developer is Suhail Rahman, He is an engineer with an MS from University of Newcastle Upon Tyne, UK with over 14 years of industry experience. He has completed his business leadership program from IIM Bangalore. He handles Marketing, Procurement & Construction. He is very passionate about sustainable practices and is the force behind Asset Aura – among the top three sustainable residential communities in Asia Pacific region (Awarded by World Green Building Council in 2016). He was also chosen as the most enterprising CEO (2016) by World Sustainability Group for his contribution to sustainable developments. Mr. Suhail spearheaded the emotionally challenging re-branding www.insightssuccess.in

10 Outstanding T h e

Real Estate Companies To Watch in Bengaluru

process from Asset Builders to CoEvolve Estates.

A Green & Natural Portfolio Satisfying clients and meeting all their demands is of paramount importance to CoEvolve Estates. The fact that CoEvolve Estates has zero litigations against any of their projects, stands testimony to their commitment to live by the high ethical standards set. This has earned the trust and goodwill of customers and peers alike.

However, achieving this level of comfort, luxury is not easy, it comes with a price and here it is, ‘by embracing nature.’ CoEvolve has engaged a highly motivated team of experts to research the latest developments in construction technology, resulting in a lot of path-breaking initiatives being implemented in its projects. Harnessing renewable sources of energy, 100% recycling of water, rooftop organic farm, conserving electricity and effective waste management are just a few of the innovative steps taken towards the fulfillment of this goal. The concept of ‘Sustainable Green Buildings’ became the ultimate objective.

Sustainable developments reap not only short term benefits for the immediate user but also long term rewards for generations to come. While most green buildings limit themselves to harnessing solar energy, CoEvolve Estates have been harnessing Wind energy through the windmills installed in the rooftop of many of their projects. This is indeed a sight to behold!

CoEvolve Estates’ first Green building, Asset Aura was awarded the highest Platinum rating by the Indian Green Building Council (IGBC). At the time, this was a big achievement for a residential apartment. Asset Aura went on to bag multiple awards at national and international forums. “What makes us truly content is not the awards that we can showcase but the simple words of appreciation expressed by our clients”,asserts Mr. Rahman. The patrons are extremely pleased with their weather-friendly homes and the fresh produce from the rooftop garden. They are proud to own a peaceful haven, right in the middle of the hustle and bustle of the city.

After the success of Asset Aura, CoEvolve Estates has come up with its crown jewel: the ready-to-occupy CoEvolve Northern Star, located at Thanisandra, North Bangalore.

CoEvolve Northern Star is also an IGBC Pre-certified Platinum rated Green building and boasts of being a ZERO WATER DISCHARGE COMMUNITY. “With the imminent water crisis set to befall Bangalore, most of our research for this project was centered around maximizing water efficiency. We have a plethora of features which not only www.insightssuccess.in

Suhail Rahman MD & CEO

ensures that almost all the water used is recycled but also optimizes the water consumption. We have laid the best foundation for the community to practice the 3 R's of Reduce, Reuse and Recycle,” pinpoints Mr. Rahman.

The CoEvolve Northern Star has been featured in a United Nations report - ‘Policies for Financing Water-Related Sustainable Development Goals’. CoEvolve Northern Star features as a case study - ‘Crafting Communities for Change in a Megacity.’

Towards a Sustainable Future By now it is evident that CoEvolve Estates is striving to create sustainable and environment-friendly homes that adhere to robust standards. Hence, it is safe to say that this developer will evolve as one of the most desired builders in the country. Mr. Rahman says that in future, CoEvolve Estates will be foraying into the commercial real estate space, with two tech parks of over a million sq.ft in the pipeline. Furthermore, it also plans on building a student housing facility and a shopping mall. Alongside these, this real estate builder also has a residential project pipeline of over 2 million sq.ft spread across different areas of Bangalore.

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INTEGRATED TOW Weathering the COVID-19 Siege • COVID-19 has underscored the advantages of selfmanaged mini-ecosystems with higher safety & security, open spaces, sanitation & control • Top 7 cities have just 101 integrated township projects (launched since 2010 till date) with 3.16 lakh housing units; this is nearly 2% share of overall projects launched during the period • Of this total, 57 projects are largely residential with basic facilities like a small retail shop, pharmacy etc.; remaining 44 are mixed-use developments with dedicated retail, entertainment, education, commercial, health & residential spaces • NCR has maximum integrated townships - 42 projects with approx. 1.33 lakh units, followed by MMR with 17 projects having >63,500 housing units During a pandemic like COVID-19, there is a strong rationale for living in integrated townships. These selfsustaining, compact urban ecosystems are now more than just lifestyle upgrades - they provide the kind of controlled environment that makes a big difference during such an outbreak. Gated communities offer security, but integrated townships let residents get through the prolonged siege-like situation of a pandemic with a much lower impact on quality of life.

As on date, the top 7 cities have just over101 township projects (launched since 2010 till date), accounting for around3.16 lakh housing units. (Besides mixed-use developments, townships with more than 2,000 housing units are also considered).

This is only a minuscule 2% share of overall housing projects launched during this period. Clearly, this is a hugely under-served segment whose underpinning relevance and importance has been emphatically brought to light by the COVID-19 pandemic.

Out of the 101 projects, nearly 57 are large purely residential projects with some basic facilities like a retail shop, pharmacy, salon and some form of entertainment. The remaining 44 are full-fledged mixed-use developments with dedicated retail, entertainment, education, commercial, health and residential spaces. NCR and MMR have the highest saturation of townships.

“Beyond superior conveniences and security, townships offer a sense of community which is extremely important in times like the coronavirus pandemic,” says Puri. “Living in such projects also helps work-from-home professionals to

Constrained Supply Integrated townships began their Indian innings primarily as a lifestyle statement - the conveniences and address value come at an added cost which does not appeal to budget home seekers. The subtle luxury quotient, a function of the surrounding infrastructure rather than in individual properties, resulted in townships catering to a niche rather than to the masses. Also, very few developers have the expertise and resources to deploy integrated townships. As a result, the supply of integrated townships remained restricted even as other formats proliferated.

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Case Study

WNSHIPS

Anuj Puri, Chairman ANAROCK Property Consultants says, “Going forward, dispersed offices and flexible workplace policies around WFH will spur housing demand on city peripheries, beyond the city-centre hotspots.

This will lead to higher demand for large township developments which, because of their massive size, have been developed on the peripheries. However, they account for a mere 2% of all housing supply since 2010, so their numbers are currently inadequate to meet the coming demand.�

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Anuj Puri Chairman

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maintain optimum productivity while being assured of their and their families’ health and safety. Many townships even offer a walk-to-work option.”

Apart from the expertise to plan and execute such large projects, integrated townships also require gargantuan investments in capital, land, and other resources.

Resultantly, integrated townships will largely remain the purview of Grade A developers.

Integrated Township Supply (Completed & Ongoing) • NCR-42 township projects with approx. 1.33 lakh residential units. 22 of these (with 55,000 units) are mixed-use developments; the remaining 20 projects are exclusively residential with over 78,000 units.

• MMR-17 township projects, of which 8 are mixed-use and 9 exclusively residential. Together, they account for over 63,500 homes.

• Bangalore-10 mega township projects with 35,230 units in all, of which 3 are mixed-use and the remaining 7 are large, well-equipped residential communities.

• Hyderabad-9 township projects, of which only 1 is mixed-use and 8 are purely residential. Together, they have more than 21,600 units.

• PuneandKolkata-8 large township projects each, with approx. 19,700 and 27,150 homes, respectively.

Interestingly, Pune has more mixed-use developments (5) than purely residential townships (3) while Kolkata has 2 mixed-use developments and 6 purely residential townships.

• Chennai-7 township projects with nearly 16,200 residential units, of which 3 are mixed-use developments and 4 are purely residential.

The USPs During the COVID-19 pandemic, the most important features of townships probably are their considerable distance from mid-city infection hot zones and their superior security and sanitation. It has also been confirmed that the virus is more easily transmitted in areas polluted by excessive traffic. The reduced and regulated traffic and large, air-cleansing green zones in integrated townships are therefore a compelling argument. In townships where they are available, schools, shopping and healthcare nearby are distinct advantages. Multi-level security arrangements can ensure very effective segregation from surrounding areas, as well as contact tracing, if the need arises.

However, the main value-adds in such projects predate the pandemic. Most townships are well-planned layouts where optimum space is utilized. Landscaped gardens, jogging tracks and dedicated play areas enhance the overall liveability quotient. Integrated townships also tend to have advanced waste management and rainwater harvesting.

Opening up The Townships Landscape Given the nature of the times, we may soon see more such projects being announced. Various government and nodal development agencies have already incorporated various townships-focused changes in their city planning, such as better road connectivity, utilities supply and sewage.

Some of the more promising areas for future development include Kalyan-Bhiwandi and Boisarin MMR, Sohna in Gurugram, North Bengaluru, Yamuna Expressway in Greater Noida, Gahunje in Pune, and West Hyderabad, among others.

These locations meet the most important criteria of being well-connected and having enough contiguous land parcels to accommodate integrated townships

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