Observer Dawn December Issue by Observer Dawn

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Briefing

Cover Story Where Innovation Meets Excellence

Desk News

Tama Home Enters India with a JV with Developer Group

Outlook

Ghaziabad: The Next Hot Spot for Real Estate With such an immense overall development and affordable pricing, Ghaziabad has always...

Tama Home, Japan, exclusively brings their interests in construction, architectural design, real estate and enters...

Time to Redevelop Your Housing Society

Theatre, Film and TV

Interview

Redevelopment

It is high time that you and other members of your society work in tandem to redevelop your...

Market

Aﬀordable Housing Takes a Beating The sharpest decline in launches was recorded in the aﬀordable segment which declined by 52% in Q3 2014 as against Q3 2013.

“See, only a good creative producer has the strength to produce a good and meaningful film.”-Virendra Saxena

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Letter From the Editor

A Big Push for Urban Housing sk any buyer, especially the end-user, who has ever tried househunting anywhere in any urban cities, he/she will tell you how aggravatingly difficult the process can be. If you think about it deeply, you realize that in India, with a burgeoning population, a shortage of urban housing is on the expected lines. Using data from the Ministry of Housing and Urban Poverty Alleviation (MHUPA), a recent report found that India had a shortage of around 20 million urban housing units. A major chunk of the housing shortage was concentrated among the economically weaker sections and low income housing groups. Also, the demand for urban housing will scale up by nearly 12 million units by 2017 and around 23 percent of this demand will come from the top eight cities of India. How to abridge this gnawing gap is really a challenging task. Experts suggest that public private partnerships (PPPs), building integrated townships, pushing redevelopment projects, increasing FSI limits and other measures will reduce the housing shortages. There is also another aspect. Though increasing urbanisation has spurred the demand for housing within cities, prevailing high prices of real estate are keeping home-buyers away. Across the major cities especially in Delhi-NCR, unsold inventories have been on a rise and absorption rates continue to remain low. In such a situation, the government can tread ahead on its mission of “Housing For All by 2022” by pushing for affordable housing within the city limits across the country through PPPs. But to make the scheme successful, States need to play their role effectively. The Centre has been in the process of taking various steps and the Urban Development Minister M. Venkaiah Naidu recently said that the government is trying to get priority sector lending status for housing. As a measure to boost the housing industry, it has also relaxed norms for foreign direct investment (FDI) in real estate. However, the states need to accord speedy clearances and cut down on delays. Several states have their own housing policy, but in many cases the policy is not very clear. Financing is another major issue as far as the access to loan for such buyers is concerned. The outlook looks to be encouraging since a new dispensation came to power at the Centre. Capital markets are buoyed with improving fundamentals. The market performed greatly compared to last year. Even if surge in Sensex may not reflect economic reality, it is driven by high expectations and indicates government's preparedness to undertake the much needed reforms to take us back to the days of 8-9% growth. For foreign investors, the ‘new’ India story is appealing, considering the state of the other big economies. China is slowing and Europe and Japan are in trouble. This is despite the fact that industrial growth is still sluggish and response to the much touted ‘Make in India’ to build the nation as manufacturing hub is yet be gauged realistically. We should be forward looking to see the economic recovery play its role in urbanizing cities.

As a measure to boost the housing industry, it has also relaxed norms for foreign direct investment (FDI) in real estate. However, the states need to accord speedy clearances and cut down on delays.

Connect with Hariom Tyagi Hariom Tyagi

Editor, Observer Dawn

@harityagi2003 @harityagi2003 @harityagi2003 @harityagi2003 December 2014 OBSERVER DAWN

Desk News

Tama Home Enters India with a JV with Developer Group

ama Home, Japan, exclusively brings their interests in construction, architectural design, real estate and enters India in a joint venture with Developer Group. This was announced by Yasuhiro Tamaki – President & CEO of Tama Home, a leading global company with interest in bringing in large investments to build ‘Highest Quality Housing at the Lowest Price’. Tama Home has sales of Rs.10, 000 crores and builds 10,000 homes a year. Commenting on the investment, Tamaki said, “Building the highest quality homes at the lowest cost, regardless of income scale, offers a more comfortable lifestyle. We have fought to build homes that eliminate common real estate practices and

TATA Housing Ties Up With OnEMI

ata Housing announced the first of its kind offer in the real estate sector to enable consumers the convenience of an EMI scheme to fund the booking amount. The Company will be offering this simple payment options for home buying through a tie-up with OnEMI. Through this scheme, a customer can book a flat online using as credit card and the booking amount can be broken down into easy to pay EMIs of various tenures as per the preference. The objective of the offer is to simplify the process of home ownership further, so that buyers may spend their time on arranging for the down payment, home loan eligibility etc., rather than stressing over paying the full booking amount at one go. Speaking on the occasion,

decrease conventional costs in half without reducing quality. We strive to support communities by providing excellent homes at the lowest price to our customers. This is the heart of Tama Home”. Citing from his experience about Japanese housing industry, Mr. Tamaki added, “higher quality housing can be built at an even more reasonable price. That is why I believe everyone can attain an even higher quality of life if the cost of housing can be brought under control”. Developer Group is the first Japanese investor promoted real estate company in India, backed by leading Japanese Corporates & institutions who have allied with the highest caliber Indian professional team with an in depth knowledge when it comes to customer insights, project assessment as well as risk management expertise. At the cornerstone of this vision are professionalism, transparency, ethics and reliability. n

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Mr. Brotin Banerjee, MD & CEO, Tata Housing Development Company, said, “At Tata Housing, our main endeavor is to streamline and ease the ownership of a home. In the past, we have witnessed that the consumers were being faced with a challenge of paying the initial booking amount which had been the restricting most of the consumers from booking homes online. This partnership with OnEMI reiterates our commitment to creating homes for everyone, and providing solutions for them to own their own.” OnEMI is an online platform, which helps consumers choose and buy from a vast range of products and services on easy installments by offering them access to finance from a large number of banks and consumer finance companies. n

Desk News

Radhey Krishna Group Launches Casa Greens 1 at Gr. Noida West

adhey Krishna Group has brought its project Casa Greens 1 at Gr. Noida West. Located on plot number GH-04A in Sector 16, Casa Greens 1 is spread over 5 acre land adjoining to 7.5 acre theme park that is one of the biggest attractions for the buyers. The masterpiece is designed by renowned architect Hafeez Contractor and it has total 9 towers offering 850 apartments of 2 and 3 BHK in sizes of 1050, 1140 and 1490 sq. ft. in the price range of Rs.30 to Rs.45 Lacs. The Group ensures customers of Casa Greens 1 for timely possession with no compromise on quality construction in green serenity. With 80% open area, Casa Greens 1 offers variety of choices for all age people by offering high tech club with swimming pool, yoga and meditation centre, gym and sports area, baby care and kids splash pool, coffee lounge, spa and saloon etc. “Casa Greens 1 is going to be another feather in the legacy of the group with most modern architecture, finest construction and timely possession to the buyers. Following the international standards, we are creating affordable houses with most attractive features and specifications that is timeless jewel for each buyer of project,” says Mr. Naveen Goel, MD, Radhey Krishna Group. n

Supertech Comes Up With “Basera”

upertech Limited is coming up with an affordable housing project “Basera” with a price range between Rs 12 lacs to 20 lacs. The project will be located in Sector 79 and Sector 79B of GurgaonManesar Urban Complex region. Basera will spread over a sprawling area of 12.10 acres of land comprising a total 1976 flats, out of which 5% flats will be reserved for management quota and rest 95% is open for public. Mr. R. K Arora Chairman, Supertech Limited said, “Following the Government of India vision “Housing for All by 2022”, this project will be Supertech’s first initiative under the policy of Haryana Government vide notification no PF27/48921 dated 19.08.2013, We are very optimistic and looking forward to develop this project in Millennium City Gurgaon. The project would especially help

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the first-time homebuyers, who are struggling to buy a property due to current price escalations”. The proposed project will be developed as per the terms and conditions of the policy prescribed by the Town & Country Planning Department, Government of Haryana. Applications are to be invited from general public for booking of residential apartments in this affordable housing project. The allotment of apartments shall be done through the procedure of draw for lots. The project will be constructed in two categories respectively; 112 flats of 404 sq.ft. (approx) carpet area with a two wheeler parking and 1744 flats of 546 sq.ft. (approx) carpet area with a twowheeler parking and 120 flats of 592 sq.ft. (approx) carpet area with a two-wheeler parking. The flat will be available with a cost ranging between Rs. 12,87,000 to Rs. 20,28,500 per flat depending upon the category allotted. n

Desk News

DLF Wins ‘SWORD OF HONOUR’ by The British Safety Council he British Safety Council has conferred the prestigious ‘SWORD OF HONOUR’ to 17 DLF office complexes in Gurgaon. DLF is conferred with this Safety Excellence Award for maintaining the highest standard in occupational health and safety. DLF has become the first and only Real Estate Organization in the world (In Office Complex Infrastructure Development and Operation) to earn this honour. The British Safety Council is a global body working for enhancing safety of individuals, space and lives at work. Their role is to help organizations achieve the highest Health and Safety standards set by law,

Vatika Business Centre Augments its Capacity

ith its simultaneous opening of 3 new centres, with over 65,000 sq. ft. of fully furnished office space and around 750 more seats, Vatika Business Centre, a unit of Vatika Hotels, will have an undoubted lead over the competition in terms of seating capacity and giving instant solutions to various business needs. Vatika Business Centre also unveiled the findings of a study on “What constitutes a great office?” The study showed great location and ease of increasing capacity were the two main concerns of an entrepreneur when he wants to open his office in a new city. The study was conducted over 20,000 respondents across 8 Indian Cities over a period of 3 months. Vatika Business Centre already has 8 centresacross Delhi-NCR, Pune, Hyder-

to protect their staff and future of the business. Mr. Sriram Khattar, CEO of DLF’s Rental, said, “We are extremely pleased to be conferred the sword of honour by British Safety Council. This is a moment of great pride for everyone at DLF as we are the first real estate company to win this honor across the globe. This Sword of Honor is a testament to our passion, drive and commitment to safety. We, at DLF continuously thrive to continuously enhance our safety standards along with continued adherence to rules and regulations. DLF has inculcated safety as a core value of its business and we are grateful to our stakeholders including our tenants and facility managers for their countless contributions in this achievement.” n

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abad, Chennai, Bangalore, and Mumbai covering more than 2,00,000 sq. ft. of space with 2,200 seats that it provides for Fully Furnished Shared Offices, Meeting Rooms and Virtual Offices with HD Video Conferencing, Secretarial Staff, Office Reception and Building Maintenance. The services are being utilized by companies including Ralph Lauren, Johnson & Johnson, Boston Scientific, HBO, The Hindu, Renault, Edifecs, etc. Amongst the 3 new centres, the centre at Noida occupies 21,500 sq. ft. area offering 270 seats in various combinations ranging from single seater to 15 seaters, 3 meeting rooms and a conference room, encompassing the entire 1st floor of Tower 4Building of Blue Silicon at Business Park, Sector 62, Noida. The vastu compliant architecture is a Pre Certified LEED Gold Rated building which makes it an energy efficient building designed with 100% LED lights. n

Desk News

Puravankara Brings in Purva Evoq

uravankara Projects Limited has announced Purva Evoq, a first-of-its kind contemporary residential project at Chennai’s prime location Guindy. True to its name, the project evokes a spirit of royalty and is open only for the discerning few who have an appreciation for the finer things in life. Purva Evoq is an architectural marvel, whose façade is designed by a renowned international architectural firm from Germany taking inspiration from the Chettinad architecture of south India, and cloaking it with modern day luxuries. When fully occupied, the collective financial wealth of the residents is estimated to be in upwards of US$ half a billion (Rs. 3000 crores), making it possibly one of the wealthiest residential enclaves in Chennai. Apart from a super prime address to take pride from, Puravankara plans to stimulate the tremendous depth of wisdom and discerning preferences for leisure of its buyer, through amenities that the country has not seen before in a residential project. Purva Evoq is expected to boast of the largest private welfare association owned “Works of Art”. Upcoming Art which has immense future value is expected to be identified and bought for Purva Evoq, by an Art auction house appointed by Puravankara. Therefore, the residents of Purva Evoq will benefit from the both the appreciation of their property, as well as the value of the Art Collection. n

Signature Global Launches Solera in Gurgaon

ignature Global has finally made its way to the millennium city and has launched its maiden residential project ‘Solera’ at Sector 107, Gurgaon. Understanding the value of ‘homes for all’, the project will be under affordable segment which now days is a rare sight in Gurgaon. The company feels that developing affordable housing project in the heart of city like Gurgaon is a daring approach to enter the realty market, but also creates the perfect mix of reliability and responsibility. Located at Sector 107 Gurgaon, Signature Global's Solera complex is a truly unmatched residential opportunity. Being developed in conjunction with the government of Haryana, this residential complex will give a new meaning to the term ‘Value Based Housing’. The apartments will be allotted by a draw of lots - making sure that as soon as they are launched, the value of the property, including the retail centre, shoots up tremendously. Being an affordable segment project, the company is planning to offer 1 & 2 BHK apartments with features like zero maintenance for 5 years, provision for power and water back up, exclusive children’s play area, picturesque landscaping, state of art contemporary construction & architecture and well ventilated apartments with abundant natural light. n

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Desk News

Tashee Group Presents “Capital Gateway”

ashee Group has recently introduced its ongoing group housing project “Capital Gateway” located at sector 111 of Gurgaon. Spread across 10.46 acres and blended within spectacular surroundings, capital gateway offers beautifully crafted 2, 3, 4 and 5 BHK luxury apartments in multistoried towers. Inspired by the very best, the group housing offers superb amenities, leisure activities, exquisite residential choices and blissful privacy. “Capital Gateway” is situated in one of the most convenient locations in Gurgaon adjoining Dwarka, just five minutes from both Indira Gandhi International Airport and diplomatic enclave and ten minutes from NH-8, Capital Gateway gives you the best of both worlds. With an

eight lane 150 meter wide Dwarka Expressway, a golf course road and a metro station all less than 1 kilometer away, adjacent to retail, shopping centers and with essential services like schools, railway-stations and hospitals, Capital Gateway enables you to strike a perfect work-life-balance. Moreover, there are proposed plan for an entertainment park ‘Appu Ghar’ and a lavish Golf Course, just a few kilometers away from the project. This unique group housing project is designed and equipped with the latest in infrastructure facilities like centralized security system, exclusive ultra modern club house, indoor sports activities, outdoor sports activities, store for daily needs and others features like high speed elevators, full power backup, ample covered car parking, etc. n

angalore-based realty major Brigade Group will invest Rs. 500 crore in Gujarat International Finance Tec-City (GIFT City), India’s first globally benchmarked International Financial Services Centre (IFSC) over next few years. Allotment of 1.1 mn. sq. ft. of BUA has been made to Brigade Group for development of Commercial, Residential, Retail Mall and Hotel projects in SEZ & Non-SEZ Area in GIFT City. The Group has also submitted their interest for taking additional 1.7 mn. sq. ft. of BUA to be developed at an estimated investment of Rs. 600 crore, showing their intention to take a long position in development of India’s first Global Financial Hub at GIFT City. Brigade Group has significant presence in southern India, including cities like Bangalore, Chennai, Hyderabad, Kochi etc. and is known for their high standards and quality of development across various facilities. Shri Saurabhbhai Patel, Hon’ble Minister (Finance & EPD), GoG, during the road

show of Vibrant Gujarat in Bangalore, said, “We are happy that Brigade Enterprises Ltd., Bangalore for the first time participated in Gujarat, and has taken up large development in GIFT City, Gujarat to provide facilities like offices for Financial Services & IT, Residential, Retail Mall & Hotels with an estimated investment of around Rs. 500 Cr.” Speaking on the development, Mr. M.R. Jaishankar, CMD, Brigade Group said, “We are pleased to be Co Developers in GIFT City which we consider as a real SMART City in the country. The development covering more than 800 acres is beautifully planned with world class infrastructure which we believe will set a benchmark in real estate development in the country. GIFT City provides an excellent platform to present India’s position to international companies as investors as well as for establishing an operating presence in the development. We are pleased to be part of our Hon’ble Prime Minister Shri Narendra Modi’s vision of creating 100 SMART Cities in our country and look forward to making it a success.” n

Brigade Group to Invest in GIFT City

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Desk News

KPDK Buildtech Launches Newtown Square in Gurgaon

PDK Buildtech has launched its maiden commercial project ‘Newtown Square’. The project will be developed at Sector 95 A, Gurgaon on main Pataudi Road. The project is strategically located and shares neighbourhood with three major roadways; Dwarka expressway and the proposed metro station being 5 mins from the project; NH-8 & Hero Honda Chowk are 8 to 10 minutes away; and KMP expressway & IMT Manesar are 10 minutes away. The project is a unique symbiosis of premium areas for social, entertainment, corporate and residential usage, spread across 3.1 acres of area. The project boasts of state-of-the-art design and international standard amenities through meticulous planning of over 4 lac sq. ft. by renowned architects, urban planners and engineers. The building will incorporate environmentally conscious Green building design by implementing solar energy generation, rainwater harvesting, recycling and latest water & energy conservation technologies. The company has promised to deliver the project in the next 36-42 months. The BSP for ground floor retail area is Rs. 11, 250 per sq. ft. onwards, first floor retail area at Rs. 8,750 per sq. ft. onwards and service apartments at Rs. 7,250 per sq. ft. onwards. M. K. Gupta, chairman, KPDK Buildtech said, “By offering

almost every possible facility under one roof, our prime focus for this project is to make it a landmark in the region”. n

Ambience Group Launches Two Premium Project

mbience Group brought in its two new luxury housing projects, Ambience Tiverton and Ambience Creacions, which are truly affordable. The projects are spread over 3.5 Acres and 14.5 Acres, respectively and offer air conditioned condominiums delivered in a “Ready to live-in” state, providing the comfort and ease of luxury living to a select few. The residential blocks are well ventilated and spacious and are fully loaded with an array of facilities conforming to world class-standards. “After the proven track record in retail, hospitality, corporate offices, education and luxury housing segment, Ambience Group is again geared up to set new standards in luxury living but at an affordable prices. We

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are confident that both of our projects would be one of the finest premium residential developments in India crafted for the connoisseur & uber buyers who are looking for unique designs and concepts. Each of our residences has a personalised touch and offers something for everyone,” said Raj Singh Gehlot, Chairman, Ambience Group. Ambience Tiverton, 3/4 BHK over 280 residential apartments complex, is located in Sector 50, Noida. "TIVERTON" which means "Castle" has been designed and carved under the guidance and expertise of well known Architects and consultants with the quality stamp of Ambience. On the other hand Ambience Creacions offers 3/4 BHK over 750 Residential Apartments in sector 22, Gurgaon NH8. The complex symbolizes serene living; wide open spaces, a picturesque landscape and comfort needed in a residence. n

Desk News

Continental Launches New Premium Car Tyres in India

ontinental AG has launched the newly developed “Conti Max Contact MC5” & “Conti Comfort Contact CC5” premium passenger car tyre lines in the Indian market. The tyre lines have been designed with German engineering and technology while keeping in view the evolving performance requirements of Indian consumers and with a focus on maximizing safety and comfort. Continental has established a new state-of-the-art manufacturing facility for PLT tyres at its existing tyre plant at Modipuram with an initial capacity of 800,000 tyres p.a. with further expansion potential. Targeting high efficiency right from the start Continental brought experienced staff from some of its international production sites to India in order to train local staff on handling the new machinery and production techniques. “It is a great occasion for us to launch our new tyre lines “Conti Max Contact MC5” & “Conti Comfort Contact CC5” in India which is a market with promising future growth potential. The new tyre lines have been especially designed for the Asia Pacific region and are further customized for delivering the required performance to Indian car drivers... these new tyre lines will help Continental become a partner of choice for both the tyre replacement and Original Equipment business,” states Antonio Lopes Seabra, Executive

Vice-President and Head of the Business Unit Replacement Asia Pacific for PLT tyres at Continental. n

Parryware Roca Organises a Road Show in Gurgaon

arryware Roca commemorated World Toilet Day on 19thNovember, 2014, with a road show in DLF Cyber Hub, Gurgaon. The road show encompassed performances by the renowned Asmita Theatre Group which highlighted the sanitation problems in India and other health issues that arise out of the poor state of hygiene in the bathrooms. The performances were held in slots between 12 pm and 3 pm and another between 5 pm and 6 pm and witnessed a very positive response from the spectators and visitors at Cyber Hub. Pau Abello, MD, Roca Bathroom Products Pvt.Ltd. said, “As a leader in the bathroom space,

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we shoulder a very important responsibility. With this initiative, we aim to augment the level of awareness amongst Indians regarding the importance of proper sanitation. A road show of this kind by a popular theatre group engages the mass consciousness in a way that people can relate to and that can propel them to think and take action at their own individual level.” World Toilet Day was established on 19 November 2001 in Singapore by the World Toilet Organization to draw attention to the global sanitation crisis. It aims to promote discourse and debate on toilets and sanitation. In India, events such as the one organised by Parryware Roca serve as a reminder of the struggles that thousands in our country face who still lack access to proper toilets and the health issues that this situation can spur. n

Awards

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Memorable Snapshots of Indian Realty Awards-2014

Shri Kalraj Mishra, Union Cabinet Minister, Micro, Small and Medium Enterprises (MSMEs), was the Chief Guest in Indian Realty Awards-2014 which was held on October 17 at Radisson Blue, Noida. On the sidelines of presentation ceremony, Honâ&#x20AC;&#x2122;ble Minister said that this Award was a recognition which acknowledged the contribution made by the Real Estate Sector in the growth of Indian economy even during the sluggish phase.

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Mr. Manoj Gaur, MD, Gaursons Group receiving “Best Township of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Robin Vijeshwar, MD and Maj. Gen. (Retd.) S.K. Vijeshwar, Director, International Amusement Limited receiving “Best Entertainment and Shopping Centre, Appu Ghar, Gurgaon” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Awards

Mr. Sanjay Rastogi and Mr. Amit Aggarwal (Directors), Saviour Builders Pvt. Ltd. receiving “Eminent Developer of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Shekhar Tyagi, Mr. Vaibhav Tyagi, Mr. Sushil Tyagi, Mr. Naveen Tyagi, Mr. Vibhor Tyagi and Mr. Parth Ahuja, VVIP Group receiving “Best Project of the Year, Residential (Greater Noida West)” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Mr. Nirmal Jain, MD and Mr. Vinayak Jain, MCC Group receiving “Best Developer of the Year (Quality and Construction)” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Rajesh Nagpal, Director, Gulshan Homz receiving “Trusted Builder of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Awards

Mr. Neeraj Mittal, Director, Vasu Infra Pvt. Ltd. receiving “Most Committed Developer of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs during Indian Realty Awards-2014

Mr. Sheikh Sameer, Managing Director, Dreamz Infra Venture “Nawab of Lucknow Realty” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Mr. Tinku Singh, Group President, SRS Group receiving “Most Reliable Developer of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Vikas Raj Sharma, JMD, Cosmic Structures Ltd. receiving “Creator of Landmark Projects” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Awards

Ms. Ananta Raghuvanshi, Executive Director, DLF receiving “Dynamic Woman Leader of Indian Realty” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Rajneesh Chopra from RG Group receiving “Most Transparent Builder of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs during Indian Realty Awards-2014

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Team of AVJ Group receiving “Real Estate Innovator of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Vikas Pundir and Mr. Sidharth Pundir, MD’s, SKB Group receiving “Best Developer of the Year ( Quality & Luxuary)” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Awards

Mr. Sidharth Sharma, Director, Capital Infrahome Pvt. Ltd. receiving “Best Project of the Year (Location)” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Sanjay Khurana, Senior Vice President, Business Development, and Mr. H A Farooqui, G.M. Sales, Tashee Group receiving “Best Residential Project of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Mr. Raj Kishor Verma, Chairman, Dwarika Raj Group receiving “Best Residential Project of the Year, Ghaziabad” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Dujender Bhardwaj, Mr. Adhiraj Choudhary & Mr. Amit Choudhary from ABCZ Pvt. Ltd. receiving “Innovative Project of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Awards

Mr. Sanjay Khurana - Senior Vice President, Business Development, and Mr. H A Farooqui - General Manager, Sales, Tashee Group receiving “Emerging Developer of the Year (Residential)” awardfrom Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Vipul Giri, CEO and Mr. Vishal Katiyar, Marketing Head, SCC Group receiving “Best Project of the Year (Affordable)” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Mr. Dhiraj Jain, Director, Cosmic Structures Ltd. receiving “Best Commercial Project of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Rajesh Nagpal, Director, Gulshan Homz receiving “Best Developer of the Year (CSR)” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

December 2014 OBSERVER DAWN

Awards

Mr. Indu Shekhar Tripathi, Director, Tripathi and Associates Pvt. Ltd. receiving “Best Architect of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. P. C. Gupta, CEO, Yamuna Expressway Authority, receives Trophy & Certificate for “Award of Excellence for Industrial and Urban Development” award from Mr. Hariom Tyagi, Chairman, IRA and Mr. Achyut Nath Jha, Managing Editor, Observer Dawn on behalf of Indian Realty Awards-2014

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Mr. Manish Jain, Director, Modern Construction Company receiving “Best Construction Company of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Naresh Kumar Gupta, MD, Roma International Private Limited receiving “Best Bath Product of the Year, ROKA” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

December 2014 OBSERVER DAWN

Awards

Mr. Shanti Swaroop Satija, Property Mantra receiving “Property Expert of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Saurabh Sahni, Samachar Plus receiving “Best Property Show of the Year (North India)” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Mr. Amrender Shukla, Head Retail Sales (North), Commonfloor.com receiving “Fastest Growing Online Portal of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Rajnikant Sharma, President, Sarvottam Group recieving “Best President in Real Estate of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

December 2014 OBSERVER DAWN

Awards

Mr. Shaleen Singh, Mr. Gaurav Gupta & Mr. Sunil Kumar (Directors), Goldmine Developers Pvt. Ltd. receiving “Best Real Estate Consultant of the Year ” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Raj Kumar Sisodia & Mr. Rupak Jain, Finlace Consulting Private Limited receiving “Prominent Real Estate Consultant of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Mr. Rishabh Jain, MD, Mr. K.K. Singh, Mr. Shalabh Sharma (Directors) and Mr. S. R Krishnan, CEO, Homes Connect receiving “Real Estate High Excellence Award” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Jitender Grover, Director, JMD Gharaunda Pvt. Ltd. receiving “Real Estate Consultant of the Year, Ghaziabad” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

December 2014 OBSERVER DAWN

Awards

Mr. Manoj Sharma, Director, Mass2Class receiving “Innovative Consultant of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Deepak Kumar, MD, A2 Estate receiving “Best Emerging Developer of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

OBSERVER DAWN December 2014

Mr. Brijesh Varshney, Director, Oneders Event Solution Pvt. Ltd. receiving “Event Management Company of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Jayant Barua receiving “Corporate Communication Person of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

December 2014 OBSERVER DAWN

Awards

Mr. Aditya Rana, Dilli Aaj Tak receiving “Best Journalist of the Year (Real Estate) ” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

Mr. Dushyant Sinha, Director, ICCPL receiving “Public Relation Company of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

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Mr. Anil Goel, Mr. Adhiraj Choudhary, Mr. Dujender Bhardwaj & Mr. Amit Choudhary, Palm Infra Group, receiving “Memento” from Shri Kalraj Mishra, Honorable Union Minister of MSMEs during Indian Realty Awards-2014

Mr. Ashish Panwar and Mr. Akram Khan (Directors), Skite 360 Degree Pvt. Ltd. receiving “Best Outdoor Media Company of the Year” award from Shri Kalraj Mishra, Honorable Union Minister of MSMEs, Shri Nawab Singh Nagar, a former UP Minister and Mr. Hariom Tyagi, Chairman, IRA during Indian Realty Awards-2014

December 2014 OBSERVER DAWN

Cover Story

Where Innovation Meets Excellence

Earth Projects:

OBSERVER DAWN December 2014

Even as others were looking skeptically about the feasibility of environment-friendly construction in urban India, Earth Group could emerge as one of the pioneers of â&#x20AC;&#x2DC;Green Buildingâ&#x20AC;&#x2122; technology.

December 2014 OBSERVER DAWN

Cover Story

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Standing Tall from Left to Right : Mr. Atul Gupta, Mr. Vikas Gupta, Mr. Rajnish Mittal and Mr. Avdhesh Goel (Earth Group JMDs)

December 2014 OBSERVER DAWN

Cover Story

oday, as we are on the cusp of new age on urban living, the most serious and challenging task is what we are doing to make our planet, the Earth, a more sustainable and livable place. Each one of us is concerned about living in a habitat which is ecologically vibrant and mutually beneficial, but in reality, little we do to make this planet ever green and sustainable. But now things are destined to be changed thanks to some bold initiatives by Earth Group of Companies, India’s fastest growing real estate Group which has brought in several green projects and thus heralded a new era in urban development. A real estate conglomerate with pan-India presence, Earth Group was founded on Earth Day, 22nd April, 2010 to encapsulate elements of sustainable living experiences through its residential and commercial projects. Defying all odds and challenges which come in the path of creating milestones, the company's dynamic leadership, in a very short span, could position it as one of the fastest growing players in the Indian real estate landscape. Significantly, the stupendous growth that the Group achieved has not stopped it from pursuing its core principles of maintaining a fine balance between development and nature's ecosystem. Even as others were looking skeptically about thefeasibility of environment friendly construction activities in urban township, Earth could emerge as one of the pioneers of 'Green Building' technology. And now as the founding member of Indian Green Building Council (IGBC), it could successfully introduce new innovative technologies in all its projects. The Core Team & Innovators Much of the credit for transforming the company goes to the entrepreneurship of the quartet— Mr. Vikas Gupta, Mr. Avdhesh Goel, Mr. Rajnish Mittal and Mr. Atul Gupta — the four Joint Managing Directors (JMDs). However, they succeeded on the strength of the team of dynamic, young professionals who are highly skilled and possess the requisite expertise in management, sales and marketing. The company rightly encourages the bottom-up approach in marketing model which put immense faith in feedbacks from customers and networking partners both in the residential and commercial segments. In an era of Information Technology and digitization, tools are being used to upgrade training and skill development for around two

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thousand work force who work round the clock at company's four dozen branches spread through out the country. Professionally-managed customer care centres take care of inquiries, feedbacks and complaints. Among the awesome Joint Managing Directors (JMDs), Mr. Avdhesh Goel's expertise comes from his qualifications in Accounting and Finance. An explorer to the core when it comes to creating ideas in consonance with building businesses of innovation, Avdhesh personifies the best. It was he who espoused the cause and helped create a unique real estate brand through meaningful environment-friendly construction. Mr. Atul Gupta leads the Sales & Marketing team of Earth and also oversees strategic and financial tie-ups. Prior to his association with Earth Group, Atul has a successful career as a management consultant, start-up CEO, and a chief strategist at diverse set of portfolios. When anyone talks about convergence between architecture and construction, Mr. Rajnish Mittal's name emerges naturally. As a professional with deep intellectual and analytical approach, Rajnish has done a yeoman's job in placing and positioning Earth Group where it stands today. Mr. Vikas Gupta is a prolific entrepreneur and is applauded widely for his insights and intuitive business decisions. Vikas has contributed immensely in the company's growth as a topnotch real estate brand that is committed to bringing in quality projects and provides hassle-free dealings to customers.

Collaboration with Renowned Architects Guaranteeing continuity between the philosophy of "Innovation Beyond Imagination" and the finished construction, the company has collaborated with world-renowned architects which include Eigen-UK, Cervera & Pioz, Spain, BDP-Netherlands, C.P. Kukreja Associates, India, ARCOP, Canada, ACPL Design Ltd., Sikka Associates, N+U Design Studio, Deepak Mehta & Associates, DFA and Bose International. Needless to say, the Group's effort bring a new dimension to all project, and ensure interest, enthusiasm and integrity for many years to come. The Earth team is working on the global design which enhances structural and aesthetic solutions and guarantees longevity. The majority of projects' designs focus on comfort for those inhabiting the building, and an overall “serene” outlook of structures.

Projects Snapshot : Residential Projects

Earth Towne

Earth Towne is located in Sector-1, Greater Noida. Earth Towne is the ultimate dream home designed by Deepak Mehta & Associates, using the green design philosophy. It has 19 acres of lush green land packed with number of features like, lily ponds, fountains, walking paths with trellis, gazebos and a lot of other features that adds to its beauty. It gives the options of 1, 2, 3 and 4BHK apartments.

Earth Copia

Earth Copia, located in sector- 112, Dwarka Expressway, Gurgaon, offers you 2, 3 & 4 BHK homes. Earth Copia's exceptional homes offer a unique variety of architectural designs and options for you to choose from. It is designed with the objective of ultimate homes in comfort and lifestyle. Earth Copia offers homes with the area ranging from 1235 sq. ft., 1835 sq. ft. to 2392 sq. ft. (approximately).

Earth Gracia

Earth Gracia is located in Greater Noida West. It surpasses the problem of closed restricted spaces and brings you it acres of open lush green beauty. Earth Gracia is providing 2 and 3 BHK apartments along with a lifestyle larger than life. Earth Gracia redefines the concept of space, by adding that special element of extra. The 2BHK is 1310 sq. ft. as opposed to the conventional 1100 sq. ft. and the 3BHK is 1545 sq. ft. as opposed to the conventional 1400 sq. ft.

4. Earth Elacasa

Earth Elacasa is located in Sector-107 Gurgaon, on the edge of Dwarka Expressway. Earth Elacasa Gurgaon offers apartments in 2, 3 & 4 BHK options. It is a rare combination of luxury living with best features. It is a perfect blend of urban and commercial development in new upcoming projects in Gurgaon. Earth Elacasa club offers multiple recreational facilitiesEarth Elacasa fulfills your dream of an aspirational home. It exudes comfort and luxury. The craftsmanship manifested in the interiors surpasses expectations. It is surrounded by lush green land and water bodies, and, it has innumerable recreational facilities to accomplish your dreams. December 2014 OBSERVER DAWN

Cover Story

5. Earth Gharonda

Earth Gharonda is located on main Lucknow-Faizabad Road. Earth Gharonda offers 1/2/3 BHK exclusive apartments along with adjoining commercial retail spaces christened City Mart, well organized for different kind of stores and brands, state-of-art recreational arena, spacious designs and many more. Earth Gharonda brings happiness as it is the perfect combination of open space, luxurious apartments and ample facilities.

6. Earth Marvel

Earth Marvel is located on Raebareli Road, Lucknow and offers 2 & 3 BHK beautifully optimized apartments. These blissful homes allow you to do much more with every room. Great location, incomparable list of facilities and amenities of happiness, landscaped open space and great layout and architectural design - Earth Marvel has it all. Earth Marvel Lucknow is aesthetically designed and offer splendid views of the lush green ambience.

Projects Snapshot: Commercial Projects

Earth Sapphire Court

Earth Sapphire Court is a fast developing Green Business Centre at one of the best business location in Greater Noida West - Knowledge Park 5. It has office spaces ranging from 290 sq. ft., 450 sq. ft. to 750 sq. ft. It is a Vaastu abiding structure in which space has been utilized in such a manner that incorporates conference rooms, board rooms and a reception lobby with generous amounts of daylight. It is an eco-friendly office space that reduces environmental impact with its intelligent use of land, energy and water consumption. Sapphire Court is built using the green design philosophy. It has a beautiful green panoramic view with landscaped lawns and a terrace garden. Through the use of technology, you save 30% on electricity and conserve other natural resources.

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2. Earth TechOne

At Earth TechOne, the concept of Live-Work-Play-Shop translates into a potent combination of Offices-Studio Apartments-Commercial & Entertainment Hub within a single project. Located inside the project complex, the three essential components of any professional's life - viz. a place to work, a place to stay, and a place to enjoy - is rolled into one facility within just one minute reach to each other that opens newer possibilities and opportunities for redefining the lifestyles of the new generation of workforce living in the metropolitan cities of India. Earth TechOne is amongst the top 10 commercial projects in Noida.

3. Earth Studios

Earth Studios offers furnished 1 and 2 BHK studio apartment infused with elegance and luxury, located at Yamuna Expressway. It is well connected and located at Tech Zone, Greater Noida. Earth Studios Greater Noida offers furnished 1 and 2 BHK apartments. Not just the abode, Earth Studios' 12%* commitment amount per annum also makes it a wonderful investment opportunity. Earth Studios is a furnished studio apartment infused with elegance and luxury. Its stylish decor leaves you spell bound. The benefits one reaps from Earth Studios is that it gives high rental returns, has high liquidity and could be used as a holiday home as well.

4. Earth Iconic

Earth Iconic is located in Sector 71, Gurgaon and is well connected to Sohna Raod and NH8. Earth Iconic Gurgaon provides you with a shopping center, studio apartments and office spaces under one roof. It offers you all the luxuries, privileges and comforts you could ask for. Earth Iconic redefines the meaning of excellence and sets new standard in the realty sector. It is derived from the present day concept of live, work and play. It is envisioned with a convenient courtyard based retail space, commercial office space in Gurgaon and ready to move in service apartments, apart from other top of the line facilities. It has integrated mix serves as a focal point for retail and corporate giants. To add to the benefits, 12%* commitment amount per annum makes Earth Iconic the perfect project to invest in.

5. Earth Titanium

Earth TITANIUM, the Hi-Tech City of Excellence is spread over an area of 37.50 acres. The project is a breathtaking marvel of a creation revolving around the SEZ concept of a hi-tech area and built on the parameters of a high-end mix land use development. Studded with modern offices, IT spaces, studios, retail, villas and institutional areas, Earth TITANIUM offers the very best of the world facilities in the most high profile Tech Zone of Greater Noida.

December 2014 OBSERVER DAWN

Earth Group : Cover Story

The Fastest Growing Real Estate Conglomerate

At Company’s headquarter in Delhi, Observer Dawn’s Managing Editor Achyut Nath Jha talked to JMDs and discussed about how they are improving their bottom line and adding value to customers’ investment without compromising on quality and technologies. Excerpts: In four and a half years since its inception as a real estate company, where does Earth Group stand now as far as its presence in real estate landscape is concerned? Earth Towne, a green home project, was the first from Earth Group’s treasure-trove of standalone projects. Since then 11 projects were launched catering to every section, from endusers to investors and these are both luxury and affordable. We also forayed into Special Economic Zones (SEZs) and intergrated township and in education sector also. According to market estimate, this fiscal saw relatively low number of launches. How many projects the company could launch during this lean period? This is true but we are bringing in “Earth Titanium” on Yamuna Expressway on 37.5 acre of land earmarked for SEZ. In Gurgaon, Sector-88, we have launched the biggest commercial

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project, “Earth Skygate” on 10.5 acres of land. Thus, as far as we are concerned, things are moving as per our planning and strategy. As young entrepreneurs are running the company, promising a lot to buyers and investors, are your sure to fulfill those promises given that several developers failed to meet commitments? Yes, we are sure to deliver what we promise to our customers. We will leave no stone unturned to offer maximum satisfaction to every stake-holder. What’s the overall sentiment of real estate in Delhi-NCR? Is there any hope of correction in the property market? Market is already bottomed out. Prices are almost on the lowest level. We expect that prices will appreciate in coming months, maybe by the next month itself. Since the commencement of new dispensation at the Centre, everyone is talking about Smart Cities and their role in meeting the demand for growing urban habitats. Is Earth Group geared up to contribute in building the smart cities?

“Earth Group is very capable and committed to join hands in collaboration with domestic and foreign entities to bring in smart cities as envisaged by the central government.”

Mr. Vikas Gupta, JMD, Earth Group

Earth Group is very capable and committed to join hands in collaboration with domestic and foreign entities to bring in smart cities as envisaged by the central government. Smart Cities will be modern cities integrated with new technologies like communication system, security arrangement, world class sanitation system and digitization. These will be a good mixture of entertainment, hospitality, education and others. Basically, smart cities will co-exist with existing ones. When it comes to delivering projects on the stipulated time most developers are found to be missing, leaving buyers hapless and cheated. Where does Earth stand as far as delivery and timely possession are concerned? We are very much committed to delivery on time. Four of our projects will be completing shortly. Our project, Sapphire

“We are self-reliant in our resources and till now we have not exercised options for taking loans and mobilizing resources from financial institutions and banks. However, having said that, we are open to FDI or PE if such proposals come to us.” Mr. Avdhesh Goel, JMD, Earth Group

units/apartments. Such high unsold inventory will require six years to be cleared or sold. Your comment! No doubt, it’s an alarming situation and builders should come out with scheme to sell or clear the unsold inventory which is rising. Banks and FIs should lower the interest rates to make projects attractive and affordable to buyers. Sales and Marketing Division play an important role in bringing buyers and investors closer to the com-

“In all earth’s project, we use innovative technologies. In “Earth Copia”, we have made use of Bionic Architecture where design and construction of buildings and their layout and lines are taken from natural forms. As a result, construction activities are more ecological and less dependent on labour forces.”

Mr. Rajnish Mittal, JMD, Earth Group

pany. Share in brief about Earth’s team involved in sales and marketing. We are fortunate to have one of the biggest sales forces in the country. Riding high on their capabilities we could generate good revenue on the month-to-month basis which puts us on pre-eminent position to grow and succeed in the market. Earth Group has the state-of-art mechanism to train and motivate its human resources and result is for everyone to see.

Court will be completed by the last quarter of 2015. Recently, central government has relaxed the rules for allowing FDI in construction including housing by lowering the minimum built-up area and capital requirements for realtors. Will it boost investments in real estate sector? It’s a welcoming development. This was a longstanding demand by Indian real estate companies. Needless to say, relaxing of norms will help in completing the unfinished projects and bolster the construction activities. According to an estimate NCR tops the list of unsold homes. The unsold inventory has shot up at a whopping numbers of

“We are very much committed to delivery on time. Four of our projects will be completing shortly. Our project, Sapphire Court will be completed by the last quarter of 2015.” Mr. Atul Gupta, JMD, Earth Group

December 2014 OBSERVER DAWN

Time to Redevelop Your Redevelopment

Housing Society

It is high time that you and other members of your society work in tandem to redevelop your society building. - By Vivek Shukla

ime really moves so fast that group housing societies in areas such as Mayur Vihar, I.P. Extension, Vikaspuri have built beyond 20 years or even more. And there are also so many residential buildings in all parts of the capital; they are even 30-40 years old. Of course, many of them are in a bad shape. They are literally dilapidated and some are in dire need for large scale repairs. It goes without saying that very large amount of money is needed to redevelop such buildings. However, the biggest hurdle in redevelopment is that Society's balance sheet has hardly any funds for major repairs. In these circumstances, society residents continue to live in such dilapidated and structurally weak buildings. However, society managements have to find some solution in order to make necessary work. "Society has to be redeveloped either through a builder. Society can consider the self-redevelopment of their buildings themselves, with the help of experienced and relevant professional consultants of the field, which includes Civil Consultants, Financial Consultants and Institutions, Legal Consultants," says realty expert and noted lawyer Sunder Khatri. Experts say that with appropriate guidance, the Society can consider for "Self Re-Development" of their building. Self-redevelopment of society buildings can be conducted easily with proper planning and strategy. Of course, it is possible with the help of experienced and relevant professional consultants. “Redevelopment has become further necessary and inevitable as MCD/NDMC and DDA directions on Structural Safety and repairs of 30+ year-old buildings and discretionary authority available with MCD/DDA, to vacate dilapidated buildings. In these scenarios, you have to develop your society after certain period," says Sanjay Khanna, director of Kailash Nath Projects, a company known for redeveloping buildings. It has been seen more often than not that most societies prefer to redevelop their buildings through some builders after weak negotiations and still very weak agreements with the builders. Experts are of the opinion that due to this very reason, it creates lot of problem like allegations of corrupt practices and underhand dealings.

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“In these situations, some shady builders take liberty and change building development plans for their vested interests. Original members remain at the mercy of builders for completing their Building," says Nikhil Jain, CEO of Ramprastha Developers. Sunder Khatri says that before finalising their agreement with any builder for redevelopment work, society management should ensure that building plans will not be changed, without the consent of members. "Building will be designed & developed by the members themselves and in their presence, without any hindrances," he adds. Members may use their discretion to develop their residential buildings into residential cum commercial buildings, which has its own advantages, in terms of money and facilities. With the latest directions by the Cooperative department, the members may use their discretion to install Mobile Towers, Advertisement Hoardings, Solar Systems, Wind-Mills, Club House, Swimming Pools and other facilities and amenities, which translates into more in-house amenities. Remember MCD/DDA “Occupancy Certificate” will not be a problem, since the members will develop the buildings, ONLY as per approved plans. “I feel that society building can be developed on time schedule, unlike the builders who usually delays the project for his own vested interests. Issue of Free Parking spaces can be solved. Common spaces cannot be sold and under-hand dealings can be avoided," feels Rajeev Chopra, CEO of ILD Developers. There is also a feeling that buildings can be completed before schedule, thus saving rent for members. However, there are some issues also involved in self-redevelopment process. If you are redeveloping your society, several members require giving time to monitor the construction work with other professional. Sadly, not many members come forward to help each-other in society work. "I know that in redevelopment through builders, the Society members are paid some money in terms of "displacement fund. Sometimes this Corpus Fund is given to the Society, which the Society may secure it in its Balance Sheet, for appropriate investment, for purposes of earning Interest," informs Khatri. It is important no know that in redevelopment process through builders, the Society members are paid rent money for alternate accommodation till the redeveloped flats are duly

taken over by the original members. And, in terms of self-redevelopment, the criteria of rent money for alternate accommodation till the redeveloped flats are ready is a major issue. It needs to be decided with appropriate mutual understanding and trust. Typically in redevelopment though builders, the Society members are paid "Shifting /Transportation" money to the alternate accommodation till the Redeveloped flats are duly taken over by the original members. However, it is a major issue when society is engaged in self redevelopment work. It should decide with appropriate mutual understanding and trust. This Shifting /Transportation charges can be adjusted subsequently from the accumulated corpus funds. It is to remember that in redevelopment process through builders, the builders pay the Stamp Duty and Registration Fees, for the new Flat Agreement of the original members, subject to various parameters. But, when you are redeveloping the society, the criteria of "Stamp Duty and Registration Fees" money for the new Flat Agreement of the original members, are major issues, which need to be decided with appropriate mutual understanding and trust. However, this Stamp Duty and Registration Fees can be adjusted subsequently from the

accumulated Corpus Funds, from Free-Sale Flats. "The typical cost of construction is approximately between Rs 1200 to Rs 2200/- per carpet square fee. This includes charges for Development permission from MCD/DDA, all professional Consultants fees and other incidentals," informs Sanjay Khanna, adding, "The Free-Saleable Area is sold by the builder between Rs.10, 000 to Rs 25,000 per carpet square feet." The tentative earning the builder earns out of each Carpet square feet is approximately Rs.7000 to Rs. 20,000 per carpet square feet. This also means that to construct one flat of approximately 1000 square feet (carpet area), the all-inclusive construction cost is approximately Rs 20 Lakh rupees. It includes all costing. This is possible if the Conveyance of the plot of Land is in the name of the Society. It is high time that the Delhi government consider granting "Conveyance" of the Society plot in the name of the Society, by legal default, via a special ordinance, at least to those Residential Societies which are over Forty years old. This may be specially considered in view of the vast amount of stamp duty and Registration fees that will be accumulated by the government. So, it is high time that you and other members of your society work in tandem to redevelop your society building. n

December 2014 OBSERVER DAWN

Outlook

The Next Hot Spot for Real Estate

With such an immense overall development and affordable pricing, Ghaziabad has always been the city to look upon and real estate developers have bought the cherry on top.

ne of the most commendable developments of 20th and 21st century has been the work on the city of Ghaziabad. It has been shaped into a very unique and well organised city. An unquestionable benefit that Ghaziabad has over all other real estate destinations is the location, connectivity and infrastructural development. Ghaziabad itself is a formation of a cluster of several small regions comprising of Vaishali, Vasundhra, Kaushambi, Mohan Nagar, Indirapuram, Crossings Republik, Raj Nagar Extension and upcoming destination, SiddharthVihar. All these regions haveindividually developed a lot over the past few years and few more regions are getting developed. The location advantage that Ghaziabad has over other destinations is incomparable. Sharing its border with the capital, it has quite a few number of entry and exit options for the commuters travelling in and around the region. It has been so analytically

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developed that every sub-region has its own entry and exit, plus they are all accessible from Delhi on all sides. The cityâ&#x20AC;&#x2122;s infrastructure has developed manifolds over the years now. The inclusion of metro rail, increase in transportation facilities, development of various schools, universities, shopping malls/arcades, multiplexes, hospitals, electricity power plants, etc. has made sure that the city is ready for the best always and future as well. The development in the region has been done by a very systematic distribution so that not even a single destination misses. For e.g., metro rail goes through Kaushambi and Vaishali, most commercial development is in Mohan Nagar and Raj Nagar, most industrial development is in Sahibabad,

near Vasundhra and newly dedicated regions like Indirapuram, and Raj Nagar Extn.is a combination of residential and commercial developments. Another astounding feature of this city is that even though it has been one of the early developments, but still today we see that the prices of the properties in the region are very competitive along with all the modern amenities equipped. This affordability advantage has made Ghaziabad an unmatched location for both; residing and investing. The demand in the region is such that it has always surpassed the supply even though the number of projects delivered and ongoing proportionally to the size of the land is much more than other real estate destinations. Even for a developer today, it is a dream to deliver a project in the city of Ghaziabad, no matter the region. With such an immense overall development and affordable pricing, Ghaziabad has always been the city to look upon and real estate developers have bought the cherry on top. Top developers of NCR didnâ&#x20AC;&#x2122;t waste a second to develop this city. Amongst the early birds, Ajnara, Gulshan Homz, Ansal Housing, Supertech, Amrapali, Aditya, etc. were the few developers who did the early moulding of the city. Later the city saw the presence of more and more developers such as Assotech, Nirala, Aditya, JM Housing, Exotica, Vatika, VVIP, KDP, Parvanath, etc. These developers have come out with residential, commercial and mixed land use projects in the regions.

Vaishali

Vaishali is a township spread across approx. 1000 acres of land

and is well connected with public conveyance facilities such as metro, bus, auto, etc. The township shares its boundary with Kaushambi, Indirapuram&Vasundhara and has presence of over 30 developers who have delivered numerous projects and are developing even more. At Vaishali, most properties developed here are residential apart from a few big names in the commercial segment such as Ansal Plaza, Metro mall and Shopprix mall. Currently, Vaishali has over 1700 properties and over 50 projects to choose from.

Vasundhara

Located on Madan Mohan Malviya Marg (connecting road for Anand Vihar ISBT and Mohan Nagar),the upper link road of Trans-Hindon Ghaziabad, this 1000 acre township is well connected to New Delhi via Wazirabad road and Anand Vihar ISBT just a 10 minute drive. Nearest metro station is Vaishali. Nearest railway stations are Anand Vihar terminal and Sahibabad. This region has an option to choose from over 1500 properties amongst 35 odd projects.

Indirapuram

Indirapuram is a recently developed and much sought-after area of Ghaziabad and is the prime residential area and one of most preferred locality in NCR due to its proximity with both Delhi and Noida. It is located on NH-24 in Ghaziabad. It is one of the posh localities in Delhi/NCR. The nearest airport is the IGI airport which is about 30 km away. By road, Vaishali is wellconnected to Delhi, Noida, Hapur, etc. Nearest railway stations are Ghaziabad, Anand Vihar terminal in Delhi & Hazrat Nizamuddin.The nearest Metro station is at Vaishali. Shared Autos/Tempos are readily available from highway for LalKuan, Vijaynagar, Anand Vihar and Ghazipur and from Sec-62 Police

December 2014 OBSERVER DAWN

Outlook

Mr. Kushagr Ansal, Director, Mr. Ashok Gupta, CMD, Mr. Rupesh Gupta, Director, Ansal Housing Ajnara India Ltd. JM Housing acres, covers villages like Chowki for Noida Sec-37, 12Dundahera and Shahberi, 22and Sec-1 (Gole Chakkar near where land acquisition took place Indian Oil Building). At present, from 2004 to 2009. The project is this region has over 1500 propera joint venture of seven real estate ties to choose from amongst 40 groups, Ajnara, Assotech, Gaursons India, Mahagun Deodd projects for residential and commercial segments. velopers, Panchsheel Promotors, Paramount Residency and Supertech Limited. A city within city with all modern day faRaj Nagar Extension cilities. A lake a golf course and walk ways within the town Raj Nagar Extension is a residential area mainly consisting of ship. Proposed Hospital, Schools, malls, metro, Hotel Banks, midrise apartments in Ghaziabad. It is situated on the GDA's post Office, police station, fire station etc. are in the vicinity. newly developed Meerut Bypass six lane highway NH-58. The region is well connected to Noida, Greater Noida and Delhi. Ajnara India Ltd., one of the most prominent realty players of The Vaishali Delhi Metro Station is at a distance of just 15 kiloNCR has delivered over 50 projects and has given Ghaziabad metres and there are plenty of intercity buses from the ISBT a lot of projects to talk about. Mr. Ashok Gupta, CMD, Ajnara located just 3 kilometres away. Land titles are clear and there India Ltd. says, “We had seen this city when it was barely anyare no farmer problems. In Raj Nagar Extension, builders thing. But it has been an amazing turn around; the developbought land from farmers so there are no farmer problems. ment has been jaw dropping. Every region of Ghaziabad has Rapid rail transit system is likely to pass through this area in something to be proud of. We as developers try to put our best future, connecting Anand Vihar (Delhi) with Meerut and projects here as it is the best developed region of NCR passing through Raj Nagar Extension. New Link Bridge will presently. Also, it allows us to cater the Delhi audience which connect from Raj Nagar Extension to Karhera at Hindon airis very important for any developer of NCR”. base side that will make raj nagar closer to New Delhi with a smoother drive. Being a new and reasonably affordable destiGulshan Homz, another major realty player of NCR has been nation, it attracts a lot of customers and developers. The customers today have over 60 projects to choose from amongst giving Ghaziabad various residential projects with high end 1300 odd properties. amenities and luxury apartments. With its projects like GC Grand and Centrum, Gulshan Homz has set a benchmark for Crossings Republik other real estate players of NCR. Mr. Deepak Kapoor, DirecCrossings Republik is an integrated city project, situated on tor, Gulshan Homz says, “Ghaziabad has gone through a NH 24 in Ghaziabad, stretching towards Greater Noida. Built tremendous makeover, over the past few years specially. The at a cost of 60 billion approx..and aimed to cater to 100,000 reskind of infrastructural developments have taken place here; the idents; it is one of the two big sub cities of Ghaziabad, along property market has witnessed a massive upward demand. Due with Indirapuram. The high-rise township spread over 360 to NH 24 and FNG expressway, we have been able to cater to

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the people in Delhi and Haryana. Ghaziabad’s location has played the most vital role in shaping up the real sector here and will continue to do so in future too”. Ghaziabad is a ready city. There is everything that a household would require in his/her close proximity. Residential and commercial developments are taking place in a very rapid manner and this is adding on to the credibility of the region. Every region within Ghaziabad is very well developed. People residing in these places have access to almost everything that a resident would require. Raj Nagar Extn., Indirapuram and Crossings Republik have been the newest inclusions in the city and have been a complete work of developers. This is the popularity that Ghaziabad has amongst the real estate sector. Ansal Housing, the benchmark of Indian real estate, was amongst the very first to come out with a commercial project in the region. Ansal Plaza which has always been a project to reckon with in commercial real estate still stands tall amongst many others in the region. The company has also delivered residential projects in Ghaziabad. Mr. Kushagr Ansal, Director, Ansal Housing says, “We were always a big fan of Ghaziabad due to its location and infrastructure planning. It has always been looked upon as an extension of east Delhi. Investors and end users all have always favoured Ghaziabad over other cities due to its well planned development. This region will always remain to be amongst the best deal in entire NCR.” JM Housing has successfully delivered two residential projects in Ghaziabad; one in Vaishali and other at Vasundhara. Mr. Rupesh Gupta, Director, JM Housing says, “It is a feeling of great pride that we are also amongst the list of developers who have delivered in Ghaziabad. For an end user, this city is a dream destination as it fulfils every possible parameter for a buyer; from good location to great connectivity, from brilliant amenities to stunning infrastructure and the biggest highlight being the price factor, which is extremely easy on most pockets”. n

Mr. Deepak Kapoor, Director, Gulshan Homz

December 2014 OBSERVER DAWN

Market

Affordable Housing Takes a Beating

The sharpest decline in launches was recorded in the affordable segment which declined by 52% in Q3 2014 as against Q3 2013. lobal real estate consultancy Cushman & Wakefield in their latest research on the residential markets of India have reported a drop in total residential units launched in 3Q 2014 (July â&#x20AC;&#x201C; Sept.) of approximately 21% as compared to same time last year. The study done for top eight cities of India reveals that new launches in affordable housing segment dropped by over 50% in 3Q 2014 as against same time last year, all housing segments registered a declined. 3Q 2014 saw the launch of 166 new housing projects across the top eight cities with Chennai recording the highest 45 projects while Ahmed-

Segment

Segment Wise Q3 2014, No of Units

Affordable Mid High-end Luxury Total

4700 21,400 8,100 400 34,600

Source: Cushman & Wakefield

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abad recorded the lowest number of new launches of 5 projects in the quarter. The sharpest decline in launches was recorded in the affordable segment which declined by 52% in Q3 2014 as against Q3 2013. While the demand remains the highest in this segment, this is not the segment that developers prefer due to the larger scale of construction and management apart from the fact that input cost for development have started to inch upwards making it tougher for developers in the key cities of India to provide affordable housing within the city limits or even in the peripheral region.

Residencial Launches Q3 2013, No of Units 9,800 25,000 9,000 Nill 43,800

Y-O-Y y-o-y% Change -52% -14% -10% NA -21%

Segment

Ahmedabad Bengaluru Chennai Delhi-NCR Hyderabad Kolkata Mumbai Pune Total

Segment Wise Q3 2014, No of Units 800 9,700 4,400 4,500 2,000 2,300 6,400 4,500 34,600

Residencial Launches Q3 2013, No of Units 2,100 13,200 4,100 9,700 1,900 1,800 7,200 3,800 43,800

Y-O-Y y-o-y% Change -62% -27% 7% -54% 5% 28% -11% 18% -21%

Source: Cushman & Wakefield

Mid segment, which is traditionally the highest proportion of new launches, saw a decline of 14% in the time frame Y-o-Y while high end segment declined by only 10%. Shveta Jain, Executive Director, Residential Services, India said, “Supply outstrips demand in most of these cities due to weak market sentiments and slower growth rate in sales due to which new launches have remained checked. There is a conscious effort by developers to keep the number units low thereby making smaller sized projects to help them deliver on time and meet the expectations of the purchasers. This in turn has been instrumental in keeping the prices stable in the market allowing the market to remain positive.” Shveta further said, “The added disadvantage that many developers are facing is the dearth of developable land within reasonable city limits. Factors such as land pricing, development cost, cost of construction and material etc. have also seen some escalation in the last few years which have made developers choose their projects carefully.” Beating the average national trend, the locations of Kolkata saw a significant rise in the new launches in the quarter over same time last year. With 2,300 unit launches, market activity improved by around 28% from the previous year. The improvement was primarily due to developers’ increased focus on mid segment offerings (85% of total unit launches in Q3 2014

compared to 55% in Q3 2013), which cater to a larger consumer base. Pune also experienced a growth in total units launched of about 18% in Q3 2014 over the same period last year due to reasons of festive season demand. Many projects previously in the pre-launch stages were added to the market ahead of the festive season. The increase was primarily due to an anticipated improvement in demand amidst higher enquiries, signalling an end to wait-and-watch approach adopted by buyers for the past few quarters. With approximately 800 units launched in the third quarter of 2014, Ahmedabad recorded a decrease of nearly 62% in total new units launched in 3Q 2014 as against the same time last year primarily due to the fact that developers preferred to defer their new project launches in the wake of existing high levels of unsold inventory. Delhi-National Capital Region (NCR) also followed suit with a decline of 54% with new residential launches of approximately 4,500 units in 3Q 2014 as compared to same time last year. Unit launches decreased as developers focused on completing existing projects (in the wake of significant unsold inventory) and delayed new launches awaiting an increase in demand. n

December 2014 OBSERVER DAWN

Infrastructure

Real Estate to Gain Momentum

from Infrastructural Boost

With such plans now in progress, the demand for real estate will start climbing. he Modi wave, which began last year, washed through the general election season this year and has continued its dominance ever since and has started to reach even outside the nation. During the recent visit made by Chinese President Xi Jinping and Modi’s visit to Japan, India received much needed news that would help the nation to meet its target of development. China has agreed India an amount of $ 20 billion over the next 5 years for investment in infrastructure and manufacturing sectors. Among the 12 agreements made by the two countries the highlights have been work for the setup of 2 industrial parks, cooperation for railways and setup of sister cities. On the other hand, Japan has promised an amount of $ 33.6 billion to be invested in public and private sectors and financing including foreign aid to India in five years for projects such as infrastructure and clean energy.

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With such plans in action now, real estate sector; which is considered to be one of the greatest contributors of nation’s GDP, is set to reach heights. For a region to be successful in real estate, it is vital that infrastructure is sound. With better roadways, railways, waterways, connectivity, civic amenities, public transportation, etc. it becomes easier for the region to catch higher demand and footfall. Higher demand gets converted into sales only when the region is developed. The current government’s plan of creating 100 smart cities will yet again gain momentum from this plan as infrastructure is the key for any region to grow.

Transformative Mood

Mr. Vikrant Singh, President, Agrante Realty, believes, “There is a direct relation between infrastructure and real estate. Better the infrastructure better will be the demand for real estate in a specific region and vice-versa. Real estate sector in India is cur-

rently witnessing a transformation with respect to investment type, shift in class, monetary growth and increasing global exposure which provokes the present day customer to have a change in taste. With more and more customers getting interested in luxury segment of real estate, the demand for infrastructure is bound to go north. With this boost for infrastructure in pipeline now, the demand for real estate will increase manifolds”.

Mr. Chaman Panwar, MD, The Visava Group, says, “We are in the initial phase of globalisation where countries are joining hands for mutual growth and support. Getting financial support for infrastructure in India is the need of hour as we are still developing. Real estate sector has an even greater scope to perform with so many private companies eagerly coming out with residential and commercial projects. The success of these projects and the sector largely depends upon the given infrastructure, which is now sure to get better with time and the promised investment”.

Mr. M. K. Gupta, Chairman, KPDK Buildtech, states that “This is great news for the sector and the country. For real estate sector, there will be a major turnaround of events as infrastructure is of prime importance for any given destination. With billions of dollars ready to be invested, developing real estate regions will get the maximum mileage from it. Looking at the macro level, the nation will gain a lot through FDI, employment generation, rising development, enhancement of

people’s lifestyles and most importantly; a better global standing”.

Mr. S. J. Singh, CMD, Urbainia Spaces, says, “There could not be a better time for generating FDI in India with current government’s plan to develop 100 smart cities and bring about a revolution in India’s infrastructure. Development of smart cities will depend entirely upon the provided infrastructure; which will get a massive push from these global tie-ups. China and Japan are two superpowers of Asia and gaining assistance will help the nation grow even better”.

Mr. Rupesh Gupta, Director, JM Housing, says, “The prolonged pause in the economic and infrastructural development will finally come to an end from this investment boost to be provided by China and Japan. It is very important to keep a good reputation amongst neighbouring countries and aid one and other constantly. Not only does it affect mutual growth, but helps in bridging the political gaps as well. Real estate as a sector today was witnessing a severe crunch due to lack of good infrastructure. With such plans now in progress, the demand for real estate will start climbing as the infrastructure starts improving”.

With so much ready to be offered to the nation, every sector and industry will gain momentum and this will go on to help the development in near future. Real estate being one of the prime contributors to Indian GDP will achieve a lot that will help to shape this sector even better. n

December 2014 OBSERVER DAWN

Why Real Estate Brokers Opinion

Need to be Regulated By - Reetesh Singh

In recent days, many complaints of fraud land deal, sell of projects and apartments, booking under false schemes or unknown offers, have been registered.

n property purchase, brokers are considered as a key component and plays significant role between buyer and developer. For buying a property, a buyer prefers to contact a broker or consultant to find out right kind of property in the right budget and location of his/ her choice. At the same time a developer contact brokers to sell their projects because they supposed to deploy huge marketing team to cover wide no of customer at a stretch. In this scenario, buyer and developers both depend on property brokers because they are expected to have all information about latest policy, rules

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and regulations, taxes and implementation, interest rates, financing organization, upcoming infrastructure developments, master plan, rates, features & specifications and other charges etc. But in recent days due to unauthorized brokers and unprofessional services, many complaints of fraud land deal, sell of projects and apartments, wrong commitments in terms of discount, offers, free gift hampers etc., booking under false schemes or unknown offers have been registered. Sometimes developers also come across such incidents when customers

come with multiple complaints after bookings and in payments terms, PLC (Preference Location Charges), floors, room facing, balcony facing, extra charges, lucky draw and winner in the time of Navratra and other festival but hardly any broker come forward to take responsibility. In past few month property prices has been constant and such

opportunities are grabbed by many buyers and NRIs. Buyers and investor need the best investment solution and expect good return. Sometimes in hurry, buyers rush to book apartments during festivals to avail free gift hampers, cash discount etc. In such situation non professional brokers or dealers who hardly keep deep information about property, price, offers, discount and development of location etc. jump in to the market. On the ground of half cooked commitments they make lot of money and after that they disappear. Such practices are tainting the entire profession in India. But taking an honest initiative, UP cabinet has issued notice to regulate real estate brokers and consultants in state to bring transparency in the activities and make business of brokerage more responsible not only during sell but also after post sell and possession. Real estate industry has expressed a sigh of relief on this step. Real estate consulting or broking has become a very sensitive issue in today’s scenario. “Being a real estate broker is like being a bridge between developer and buyer and believe me it’s not as easy as it looks. A real estate broker is symbol for all around solution like; finest consultation, broad knowledge of property and banking, infrastructure and finally responsible for right suggestion for hard earned money of customers. Just because of few unprofessional and due to their unorganized working, the entire domain is being treated as guilty. I have always supported registration and licensing of real estate brokers to bring transparency in the industry and make them responsible for their commitments. Also it will restrict unethical exercise of brokers and ensure quick action against them on complaints”, says Mr. Pawan Jasuja, Director, Finlace Consulting. According to Mr. Dinesh Jain, CMD, Exotica Housing, “Real estate sector would consolidation after the regulation comes in existence and it would also require real estate broker to be registered. The registration and guidelines for broker would reduce the possibilities of mis-selling to a large extent. The image of real estate brokers is spoiled because of some elements who indulge in unethical praetor for sourcing the business.” The industry experts are expecting some major reforms to be taken care in the act for registration of brokers or brokerage firm like; strength of team, location of services, experts from different horizons, past records and letter of appreciation from developer, testimonials, customer support system

and minimum time frame to take action on customer complain etc. Property purchase requires huge level of investment and sometimes people come with their entire savings. In this scenario, they prefer the best solution and approach real estate brokers. Mr. Satyendra Tomar, Joint MD, Proplarity Group, shares his view points, “A buyer completely trust a broker for his/ her investment and wrong information creates issue for buyer and developer both. I appreciate such initiatives from government to regulate real estate brokers on ground level and keep an eye on their activities. Moreover it is always advisable to communicate from their official id and avoid any offer if it is not written on papers and authorized from concerned person or department.” Mr. Naveen Goel, MD, Radhey Krishna Group says, “With the changing scenario as the winds of reform continue to sweep the country's burgeoning real estate sector, the role of the traditional real estate broker is going under transition and inter dependency has increased way ahead than in the gone old days. The real estate consultants/brokers are free from any control that be of developer, promoter or even of the authority, due to which the authenticity of the broker cannot be really measured. The false commitments and no transparency have been few prominent issues directly faced by the customers and investors. So the registration of these brokers will actually help in regulating the industry and uplifting the Real Estate scenario.” Real estate brokers are entitled for some amount of consultation fee also for entire process and documentation. As we know that buying home is a long process, a customer may require post sell services to clarify any sort of confusion and consult for suggestion in future for the past deal. But currently brokers hardly turn for further suggestion or clarification once the deal is over. They generally change their coordinates or left the organization and then customers find themselves in lurch. Ms. Shivakshi Gogia, Joint CEO, Ascent Buildtech express her thought and says, “To save buyer’s interest and create a sense of credibility in such practices, it is a positive step of govt. to make all property dealers registered under nodal officers. After the bill, they will be more answerable for their promises. Apart from customers, we developers also pay handsome amount to brokers and expect zero complain from customers.” Occasion and festivals like; Diwali, Navratra, Holi, Independence Day, Baishakhi, Republic Day etc. bring innovative offers and discounts from developers. To achieve high sales figure, developer set target to their respective brokers to pull maximum no of buyers during the occasion or festival. In such situation buyers always think to close a deal to avail maximum benefits. Any wrong interpretation of offers by buyers or mis-information from brokers can create big trouble for buyer in future. Now it is high time for industry to stave off any type of damage in reputation due to brokerage. Buyers should also check the reputation and old credential of brokers before taking any decision. n

December 2014 OBSERVER DAWN

Theatre, Film and TV Interview

“See, only a good creative producer has the strength to produce a good and meaningful film.”-Virendra Saxena

- By Mohammad Aleem

irendra Saxena is an Indian theater, film and television actor. He is an alumnus of the National School of Drama. He is known for his character roles as well as his unique voice. He has acted in over 80 Indian films and few Hollywood films like White Rainbow, Cotton Mary, In Custody and also in many television serials. He has worked with leading actors like Shahrukh Khan, Aamir Khan, Amitabh Bachchan, Akshay Kumar, John Abraham, Om Puri, Naseeruddin Shah, Rani Mukerji and others. He has always been highly appreciated by viewers. Some of the most success Hindi films are Massey Sahib, Khamoshi, Tamas, Ashiqui, Dil Hai Ke Manta Nahi, Suraj Ka Satwan Ghoda, Bichchu, Aks, Bunty Aur Bubly, House Full and Bheja Fry and many others. Since 1975, he almost acted in all successful films.

Excerpts :

How would you judge your journey of the Bollywood? Is it satisfactory or not?

When I had started my career, I was nobody. I had come from a small town like Mathura, Uttar Pradesh. But, in what position I am here as an actor, I am happy with that. However, it is a fact that I had much strength to do more than what I have done so far. Perhaps, I could not do or I was not much capable of doing that. I realized that to live in this city, one must have to be somehow technical. There are some methods and ways which you will have to apply. You will have to be diplomatic. It is imperative to keep visiting those people whom you do think that he might be beneficial for you in generating the work. But, I could not do that.

Do you want to say that sycophancy plays an important role here in getting the work?

No, I would not say like that. What I want to say that I had a great experience of theatre back in Delhi and had acted in the serial like Tamas which was based on the novel of legendary Hindi writer, Bhishm Sahni. At that time, many people realized

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my potential as an actor and they wanted me here. But, I was in Delhi. I came after two years.

It means that when you were doing theatre, at that time, you got the work in the serial, Tamas?

Yes, I had got that opportunity during my theatre days in Delhi. And I realize it now that I could not barter that glory here as I should have done so. But, I would say that in spite of that thing, this industry and this city has given me a lot. Problem is that when you come from a small town, you need work to survive. And you do not find many choices. You realize later on that many works you have done was not good for your career in the long run. It should have been avoided. The reason is always financial. And here, you will see that once you have done a work of small nature, you find yourself binding with such work for some more days and years to come. You get entangled in that kind of works and situations. It impacts hard. I have seen many people who waited for almost five years just to get a good start. They keep searching the good work. You can say that in a sense, it may prove hazardous because people would think that you have no work since the last five years. But, in another sense, when they start with a good note, even after a long and torturous waiting, they become happy to think that they have started with a positive note. If I take my example, I got my first start as a film actor from the serial, Tamas. But, I could not cash on that success properly. It was the days when only Doordarshan existed. There was no trace of the private television channels, yet. It means that you got the acting assignments directly in the films. When I came here in this city, the editor of the famous film magazine, Madhuri expressed his annoyance and said that where had you been such a long time. Why you did not be here in this city when people needed you. At that time, everybody was asking who this Virendra Saxena. But, you were not present here to give your best. He told me that nature of this city is quite different. If you want to succeed here, hit the iron when it is hot. If there is excitement for you and offers of the new films are coming in, then, don’t waste your valuable time in signing those projects quickly. If you delayed, you would loss the opportunity.

Do you think that as an actor you have done satisfactorily work so far?

I am an actor and tries my level best to give the hundred percent. Nobody ever blamed me that I have done bad acting. I do always try to do my best with full honesty.

You have passed almost three decades in this industry. What you have been witnessing the biggest changes the industry is going through nowadays?

This is the time of a new cinema. A new market has emerged. Earlier, everything was the star oriented. The director would be fixed. They would come usually from quite rich families and belonged to the influential clans. Those, who came from the film’s background, like, Yash Raj, BR Chopra and Rajkapoor films like big banners would rule the industry. Now, we have been witnessing a lot of changes. The computerization and revolution in mass media has impacted it deeply. A new kind of technology has taken over. New kinds of films are being made now. You will see new faces, new actors. Small budget films are now being made. Earlier, only NFDC used to produce such films and it was not certain that they would release it or not. You now see new directors and writers. The monopoly of big banners has now been loosened to some extent. Take the example of Neerja Panday who had made the film, Wednesday. It was a good film. Many people liked and many disliked. Habib Faisal is also doing well. There are so many new people. Anurag Kashyap, he is a big name in the industry now. They paved the way of a new kind of thinking in the Hindi Cinema. Tigmanshu Dhulia, has done good. These people tried to make their own cinema. They did not move back to copy their former masters. There films and its language are quite contemporary. They don’t fear about the certification. They try to portray their stories in its natural milieu and environment. They worked with the new breed of talented actors with the limited budget. Take example of Nawazuddin Siddiquee. Earlier, he used to do small roles, but after the film, Gang of Wasepur, he is now a big star. He has made his place in the industry.

Has Irfan Khan also entered into the industry through the same route?

No, he came from English films. He is a wonderful actor. What I am trying to say that a new breed of talented actors have taken the Centre stage.

It is said that every actor gets inﬂuenced by some bigger stars. Who inﬂuenced you the most?

I have deep appreciation for the good and senior actors. I don’t believe that an actor is good or bad. What I do think is that if a person gets good work at the right time, then, he or she proves himself or herself. Like Amitabh Bachchan, who had acted at the early stage of his career in many

December 2014 OBSERVER DAWN

Interview flop films, but, later on, he became a superstar. In many films, he also disappointed, but, in most of the films, he did a good job. I admire both Amitabh Bachchan and Dilip Kumar. They were both very good and charismatic actors. If you take the example of new comers, Ranbeer Kapoor is a very fine actor. He would do well until he keeps his honesty intact. If he keeps choosing the good script for himself, it will be rewarding for him. It is quite necessary to choose good scripts for oneself. They are stars and they have every authority and position to choose a best script.

You come from NSD(National School of Drama). For how long did you work there?

NSD offers a three years course. It is not that this institution makes a person an actor and sends it to the film industry. Either you are an actor or not. It is by birth. NSD only channelizes you there. You spend your three years in watching the plays, reading the plays and acting in those plays. You live in a new environment and it makes you very rich. There are many also among the NSD pass outsthat have done nothing in the field of acting. They have opened their own shops to earn a living.

What are the basic diﬀerences between acting in the plays and the ﬁlms?

You come in theatre through the constant rehearsals. You get the time of the growth of the character. You can discuss line to line even in the whole group. You can discuss with your director. There, characters become alive and vibrant. We see the whole play in totality. In the films, things are quite different. You get the script and read it. There are so many restrictions and conditions. For example, you want to portray a role with your own understanding and conviction, but, it may be that a senior actor would not approve your approach and style. Directors also listen to them first, because they are helpless. They are not in a position to annoy them. They even force to drop a particular dialogue just to please the whims of the senior actors. Here, you do the work shot to shot. Here, you communicate in parts and that’s why it becomes slightly difficult to act. You will have to remember the growth of the shots yourself. There are many technical reasons and conditions.

Do you think that it impacts hard to the intensity of the acting if it will get done in parts?

No, this is a challenge and every actor should do that impeccably well. Films have some benefits also. You can

give your best in many shots. In theatre, you have no such liberty and flexibility. If you forget there a line, you will do nothing. That’s why people say that the theatre is a happening and the film is making. And you try to create in that making a new kind of happening.

Tell me that when you got the ﬁrst break into the Feature Film and how?

I had started my career in this particular field as the Chief Assistant to Sain Pranjpee’s Sparsh. Although, I could not get the credit as the Chief Assistant, because, I had gone back to Delhi. An assistant of mine took over the charge. I got the credit of Associate director. I had got my first acting assignment in Massey Sahib, then to a Vidhu Vinod Chopra’s Khamosh. It was a big film of that time. The whole experience of working with him was quite good. It was my first experience to work with the commercial people. He was not then a big name in the industry. But he was a jolly guy and still he is known for his that etiquette. We would fight and argue over the scenes and shots, but only purpose was to deliver the best product. He was the director. I would also like to mention that working in an art or low budget film is altogether a different experience than working in the mainstream commercial films. For example, whatever you respect you carry as an actor, but in commercial films, everything goes by according to the whims and wishes of the main hero or star of that film. Sometimes, you will have to wait for him to come to start the work. It is quite embarrassing situation. Many a time, I went to shoot my part, but returned without doing any work for many days to come because the main hero of the film did not turn up. However, we get paid for our time and efforts. But, it weighs on our heart that we got the money without doing any substantial work. The producers tolerate them and pamper them because they do think that their film’s success depends on those stars. We feel disheartened and it forces us to think that why one should behave like this with their other co-stars. We should duly respect our profession and give value to others also in the same way. We should not take our profession so lightly which has given too much to us like fame, money and love of the people. But, we can’t do anything because it has become the way of this industry. When I used to do theatre, as a director, I would follow the strict discipline and time table. I would hardly tolerate the breach of discipline,because, until you maintain the discipline, you can’t create a good and quality work at all. It is imperative to be the whole cast present during the rehearsals. Here, in Mumbai, we see that actors behave like the film actors. They do come for the rehearsals, do their part and go away. But, it doesn’t work in Delhi. We want fully and complete involvement of every actor. Now, we have been witnessing some change in the film industry. Now, senior actors have started realizing the value of their other co-stars and directors also try to maintain a level of discipline. It is a good and welcoming sign.

We often read in the magazines and newspapers that

OBSERVER DAWN December 2014

most of the cinema people say that the script is the star. What is the truth behind it?

It is a fact that script is always gets valued like a star. Many in our industry had started doing the things that they would push away the script behind and keep stars on the front. What starts will do if there is nothing to do in the script. Take an example, the filmmaker like Yash Chopra, would follow the same rule. He used to first get written a good and competent script. Then, he would go on selecting the artists based on the demand of the script. Late actor, Sanjiv Kumar had once gone to meet Yash Chopra for work. But, he had not given him by saying that he did not find any suitable role for him in his film. But, when Yash Chopra made Trishul, he requested Sanjiv Kumar to do the work of father of Amitabh Bachchan in his film. By that time, Sanjiv Kumar had got his stardom. At that time, he had told to YashJi that I would charge one rupee more than Amitabh Bachchan’s fee. But, what was the truth, I can’t say with all my conviction. But, it was a story which had circulated in that time. This credit goes to YashJi. He understood what he wanted. If he wanted Sanjiv Kumar, he would do everything to bring him on board.

We give credit to the script, but why ﬁlms are not being made good most of the time?

See, only a good creative producer has the strength to produce a good and meaningful film. If producer wants to make the film only for earning money, may be, his effort will prove successful monetarily, but he will not produce a good artistic film. He will use all gimmicks to make his film commercially viable like dance, fight, comedy and rape sequence. But, a good filmmaker will always look the things differently. He will believe in his story and feel the need of its presentation on the big screen. Take the film, Mughl-e-Azam. It was made after many years of persistent efforts and putting a lot of money into it. K Asif even fought over some issue with Pirthvi Raj Kapoor. But he never compromised with his work. And the result was for everybody to see.

Do you not ﬁnd a contrast that if the script is so much important; the script writes still don’t command much respect?

It is not like this. Sensible persons still value the script writer the most. It is also a fact that thousands of such writers are here who did not have produce a good work of literature. They don’t have such capabilities. But, they also get the work because noncreative producers don’t understand the difference between a good writing and the bad writing. They even try to put their own story into that.

How much trouble you faced when you had come to this city?

I had not endured much. I had come with about seventeen thousand rupees. My one of the friends had offered me his help

and gave me place to live in his own flat. I was doing good theatre at that time. But I knew that it was not enough to give me a good living. I understood it well that if I did not avail this time well, the offers would dry up. Here, the things vanish in no time. I was sure for my success. I knew that what would happen would happen well. Say something about those people who are a big name in the industry and you got the opportunity to work with them. I have worked with almost all big stars except Salman Khan. Shahrukh Khan is my good friend. I know him from that time when I had played his father’s role in one of his earlier films, Dil Dariya. It was his first acting assignment in films. He has succeeded a lot. His growth as an actor and good businessman is very commendable. He is very intelligent with good sense of humor.We all knew from early stage of his career that one day he would be a big man of the film industry. We had rightly guessed at that time. I had taken the offer of Hema Malini’s film to him.

What diﬀerence do you ﬁnd between the world cinema and the Hindi cinema?

They have good worked out scripts, because, they make an international film. They have enough opportunity to earn big money. India is a very small territory for them. They spend big money. And they never compromise on the quality in any way. They send the scripts among the members of crew and take their views and opinion and get changed according to their valued suggestions. They explore every kind of possibilities. They work mostly on literary works. They find already a readymade audience on the basis of that book.

Tell me something about your family background?

My father was a stenographer. He was from Aligarh and my mother was from Mathura. I was born and brought up in that town. I am three brothers and a sister. She was the oldest among us. My parents are no more. My two brothers worked with the government. Now, both are living in the same place and in the same bungalow. My elder brother wanted to buy his own separate land to build his house, but my middle brother asked him to come and live with him. He was fearful to think that how will he live alone in his old age. He had only son who died some years back. He has now only a daughter. I now live with my wife. We have no children. I had tried to adopt a child but could not succeed well. n

December 2014 OBSERVER DAWN

Discovering the Diverse Culture

Culture

Indians & their

The tribal population is rich in terms of nature and these tribes are living in jungles from time immemorial. They were nomadic earlier but they still lack a stable life and livelihood as they migrate for many reasons.

OBSERVER DAWN December 2014

-By Shabana Roze

omewhere between a professional responsibility and adventure, seclusion and new connections, I got an opportunity to discover the unknown. The field visit to the tribal belt in Udaipur was a journey that allowed me to meet the diverse population of my country; I was amazed to see the beauty of Aravali Range which literally means 'line of peaks. As a stranger in an alien land I was trying to find out what this unknown universe had to offer my senses. I never been to a topographic point like this before, the more I explored the desire to know more was more prominent. This place is meaningful to me because it is part of the county I love; it is the part of the county where I grew up and it is even more beautiful than my imaginations. I was interviewing the beneficiaries of the project i.e children and their families on a field visit for my organization. I was reconnoitering the jungles of Jhadol, Kotda areas in Udaipur to meet the inhabitants there. These communities like Bheel and Garasiya live in forest situated in hilly terrain of south west portion of Rajasthan, their houses are scattered in this region. They mainly depend on the animal husbandry and bioproduct of forests. Now, they have started doing some agricultural activities for a better life & survival. They are learning modern techniques, mainly the land is plough by bulls but I could see a tractor plugging the field too. There were some tube wells for irrigation activities. The tribal population is rich in terms of nature and these tribes are living in jungles from time immemorial. They were nomadic earlier but they still lack a stable life and livelihood as they migrate for many reasons. The tribes have developed their own culture and rituals. For instance, they created their own system of laws and rules to demoralize (prevent) killing each other as they are chil-

dren of the same forefathers. But sometimes, due to personal reasons & rivalries they killed each other. To establish control and brotherhood they made a ritual according to that if someone kills any other person, the whole community will support the victim family to take grain or land etc. from offender’s family. The whole supporting group of victim put down the dead body at the door of murderer for taking some grain. Few of mediators from both sides who were known that time as a ‘Panch’ tried to solve these situation with taking grain and amount for the victim family. If the offender or his family were not ready to give demanded grain and money, the ‘Panch’ allowed the victim’s family to destroy the properties and kill them and if they accepted for giving the particular amount then offender/murderer provide the drink and meet to their own communities ‘Panch’ who sorted out the dispute and could establish reconciliation. If suspect run away and do not provide Mautana then ‘Panch’ would consider them out from their community. After obtaining Mautana from suspects, victim would share their Mautana with the whole supporting community. The practice is still prevalent in tribal community. The culture of taking food grain is replaced with a huge demand money (more than the offender’s joint family’s property value or in some cases equivalent to what the whole family can earn in their life time).The offender’s family generally prefers to run away instead of paying the death money as the amount of demand money is increasing with the time more and more. It is not certain as if this practice could check killing or not but the dark side of the picture is that the whole family has to suffer for one person’s sin. The irony is that even in the modern India neither the Govt. services nor justice is reaching these tribal communities who are Indian citizen by the virtue of being born in India. n

December 2014 OBSERVER DAWN

RNI Reg. No. DELENG/2013/50357