SPR 360˚ | OCTOBER 2018 | Edition - 005

MONTHLY NEWSLETTER FOR SPR HIGHLIVING INNER CIRCLE

ORGANIZED WHOLESALE MARKETS CAN REINVENT INDIA’S TRADING SCENE FIND OUT HOW

INSIDE THIS ISSUE: Construction progress across multiple SPR projects Osian Chlorophyll wins ‘Best High Rise Project 2018’ Award SPR organizes an exclusive trip to China for MOI customers SPR Highliving participates in CREDAI’s My Location Property Fair.

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www.sprhighliving.com

INDEX 03

From the MD’s Desk

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Organized vs. Unorganized wholesale: How trade in India is on the cusp of being reinvented?

PROJECT PROGRESS REPORT 06

Tower A

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Tower B

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Tower H

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Non-tower area, Shri Ram Universal School

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Origine: Bungalow development

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Market of India

HIGHLIVING UPDATES 12

SPR takes part in CREDAI’s My Property Location Fair

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Office expansion: SPR Highliving unveils a new COE wing

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Trip to Guangzhou, China organized for Market of India customers

IN THE NEWS 16

Osian Chlorophyll wins ‘Best High Rise Project 2018’ Award

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SPR’s Quiz Corner

Disclaimer: This newsletter is exclusively intended for private circulation only. Sales or multiplication in any way is not allowed without prior written permission. The information and photography presented in the newsletter are subject to modifications. SPR Highliving reserves the right to change it without any preliminary notification. No liability will be accepted for errors or misprints.

Published by SPR Highliving, Chennai. Compiled, edited and designed by SPR Marketing Team. All correspondence to be sent to marketing@sprindia.com

FROM THE MD’S DESK With various policy reforms implemented in recent times, the overall outlook for the Indian real estate scene continues to be positive. The same is true for Chennai real estate, with the trends depicting a steady rise in the number of development projects as well as a spike in consumer demand. As per recent reports, the retail real estate market, in particular, has shown significant improvement. With entry of international brands and sustained demand for commercial spaces in the first half of 2018, there has been a rise in the launch of retail developments. In addition, with the launch of India’s first ever organized wholesale centre by SPR, there will be a major shift in real estate trends with an expected surge in the growth of the wholesale market in the city as opposed to that of retail. On the residential front, home sales are yet again continuing on the same positive momentum. Fuelled primarily by the

falling rupee and the scope for substantial returns, there has also been increased NRI interest of late.

Last month, we’ve recorded a considerable increase in our sales numbers, both across the residential as well as commercial front. I’d like to take this opportunity to thank everyone who’ve shown faith in our offerings and booked a property with us. Added to that, our project Osian Chlorophyll was recognized by Times Group as the ‘Best High Rise Project 2018’ recently and won an award of excellence for the same. It is indeed a proud moment for all of us to have received the honour. With that said, I believe that there’s still so much more left to accomplish and hope that with your continued support and encouragement, we’re geared towards achieving greater success in the coming times.

Hitesh Kawad

Managing Director, SPR Group

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COVER STORY

ORGANIZED VS. UNORGANIZED WHOLESALE: HOW TRADE IN INDIA IS ON THE CUSP OF BEING REINVENTED? India’s tryst with trading dates centuries back, when the ‘Land of Spices’ was sought after by civilizations across Asia, Europe and Northeast Africa. Soon, the country commanded a dominating position in trading exotic goods such as silk, satin, fine fabric, musk, perfumes and of course, spices. Since then, the times have changed, but India is still grounded to its trading roots, and at present has extensive wholesale markets spread across the country. From Bhendi Bazaar

in Mumbai to Chandni Chowk in Delhi to Sowcarpet in Chennai, from electronics to textiles; the world of trade has been flourishing at an unprecedented rate.

With initiatives such as ‘Make in India’ being launched, there’s scope for still greater growth of India’s trading scene. However, despite the promise it shows, there are several setbacks that can pose a hindrance to trade growth in the country. For one, the lacking infrastructure

OVERCOMING THE LIMITATIONS: While the trade landscape prevalent today has no scope for scalability, the only way to overcome the imposed restrictions is to create, and not re-build. Shifting from the existing setup into an organized one can reinvent trade as we know it. Yiwu in China and Dragon Market in Dubai are excellent examples of organized wholesale trade taking place on a massive scale. These models have proven successful in accommodating the booming manufacturing sector and facilitating seamless trade.

Emulating these tried-andtested models in India can have a significant impact, and prove to be a catalyst to the economy by turning the country into a major trade destination.

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in the present trade hubs of the country has proved to be one of the biggest challenges in expanding India’s trading capabilities.

Traditionally, these regions were built to accommodate smaller intermediaries. As cities expanded around these entities, the existing trade infrastructure could not be upgraded. Over time, this resulted in underdeveloped and overcrowded markets that led to limited footfalls from wholesale merchants, and other retail users.

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MARKET OF INDIA: REINVENTING TRADE, REWRITING THE FUTURE Taking the first step towards making organized trade in India a reality, SPR’s Market of India, is a first-of-its-kind wholesale center will bring all trade under one roof. Located at SPR City, the largest mixed use development in the heart of Chennai, it is designed to meet the current trading challenges and address the diverse needs of traders.

Drawing inspiration from Sowcarpet in North Chennai, Market of India is devised as an extension to the bustling trade hubs of the city and is designed to be a cohesive marketplace where trade can be carried out seamlessly.

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Resolving the bottlenecks involved in storage and logistics, and bringing order into the largely chaotic trading landscape of the country, Market of India will rival some of the biggest trade centers found elsewhere in the world. Lying merely a few kilometres from trade hubs in Sowcarpet, Purasawalkam and Choolai and being in close proximity to the harbour, it has heightened connectivity to prominent locations and easy road access on all four sides.

Comprising 11 markets that offer world-class features

and amenities; right from built-in warehouse spaces, Truck terminals, LCV parking, spacious trade corridors to advanced security features, it places businesses on an international platform, thus opening up new avenues to take trading to the next level.

With such planned developments dedicated to organized trade, it’s only a matter of time before India joins the league of world leaders and dominates the trading space.

PROJECT PROGRESS REPORT

TOWER A

Construction work in Tower-A is progressing at a consistent pace, and is steadily reaching new heights every month. At present, work on the 31st floor has been fully completed and work is now in progress in the 32nd floor. Flat-finishing works are also being carried out in full swing in selected units.

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PROJECT PROGRESS REPORT

TOWER B

Work in Tower-B is being carried out at a swift rate. Construction has already been completed in the 21st floor, and work is in progress on the 22nd floor.

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PROJECT PROGRESS REPORT

TOWER H

Chennai’s Tallest Towers are steadily rising, making considerable construction progress every month. This month, work has been completed on the 5th floor, and is currently in progress in the 6th floor.

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PROJECT PROGRESS REPORT

NON TOWER

Construction work in the basement parking and podium has made significant progress within a short period. P-1 Slab work is currently

SHRI RAM UNIVERSAL SCHOOL

underway. Excavation and foundation work is also in progress.

At the School site, significant strides have been made on the construction front. Work on the basement roof is currently being carried out. 1st Floor column work is in progress.

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PROJECT PROGRESS REPORT

ORIGINE

Development at the bungalow site is making remarkable progress. In multiple zones, column work and slab work is in progress. In Zone-3 and Zone 4, work is being carried out on the columns and retaining wall. Raft work is in progress in Zone-4. Soil improvement work is also being carried out in Zone-5.

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PROJECT PROGRESS REPORT

MARKET OF INDIA

India’s largest wholesale center, Market of India, is taking shape at a steady rate. Excavation, civil work and piling is being carried out at a brisk pace and is close to the completion stage.

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HIGHLIVING UPDATES

SPR HIGHLIVING TAKES PART IN A FIRST-OF-ITS-KIND LOCATION-WISE PROPERTY FAIR ORGANIZED BY CREDAI

CREDAI’s My Location Booking Fair was a multi-location property fair organized for the first time ever in India. Showcasing a range of location-specific properties in Chennai, it was aimed at allowing prospective home buyers to find a dream property in the location of their choice. Held on 1st & 2nd September and 8th and 9th September, SPR Highliving was one among the major realty developers at the event. Featuring its core projects such as Chennai’s Tallest Towers, its organized wholesale development named Market of India, among others. SPR Highliving EDITION - 005 | OCTOBER 2018

commanded a dominating presence at the event The fair drew in a large number of footfalls from customers located locally, and gave us greater visibility. More than 300+ interested customers dropped by at our stall during the 4 days of the event and were offered a detailed insight into our projects. Overall, the response received was overwhelming with a majority of visitors expressing their interest in booking a property with SPR Highliving. Following our successful presence at the Fair, we hope to continue showcasing our projects in the events to come.

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HIGHLIVING UPDATES

CONTINUING GROWTH TRIGGERS EXPANSION: SPR HIGHLIVING UNVEILS A NEW COE WING Success – and an everexpanding client base across South India - has triggered a new wave of growth at SPR Highliving. With our employee count on a consistent rise, we decided to extend our existing infrastructure to align with our operational goals. The COE division of the company was moved into a brand new office space within SPR City.

The move is about much more

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than simply a “new office”, it’s about providing the optimal work environment to deliver increasingly better services to our customers.

The new structure is a striking blend of green spaces, gleaming glass and state of the art infrastructure. From spacious work spaces to a lounge area, the office is designed to accommodate ample natural light and to provide the COE

team a conducive environment to work in. The inauguration of the new space was held on 28th September, 2018, and witnessed attendance from all employees. With our presence expected to grow further in the coming times, the new office is not just a catalyst for future growth, but is the first step towards corporate expansion efforts that are expected to take place in the coming times.

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FULLY-SPONSORED EDUCATIONAL TOUR TO GUANGZHOU IN CHINA ORGANIZED FOR MARKET OF INDIA CUSTOMERS

As part of the promotional campaign for Market of India during its initial launch phase, SPR had offered a few lucky customers the chance to win an all-expenses paid trip to China. Looking beyond the usual discounts or limited time period offers that are generally offered upon launch, SPR took it a step ahead, and announced a once-in-a-lifetime experience for customers of its organized wholesale development.

with emphasis laid on visiting the wholesale markets in Guangzhou, China. The 5-day fullysponsored trip was planned between 18th to 22nd September, 2018 and included food, accommodation, tour guides, as well as flight tickets.

On 18th, around 50 customers embarked on a transformational and educative journey.

Following an overnight stay at Guangzhou, the Considered the world’s hub for trade and group began a guided day tour to Global Village manufacturing, we at SPR, knew that nothing Wholesale Shopping Mall, Tianhe Tee Mall and can be as enlightening and memorable an other markets. En route the group was treated experience as a visit to China. A 5-day trip was to Indian cuisine, and also got the opportunity thus organized, majorly as an educational tour, to try out Chinese delicacies.

In the consecutive days, the group took on a more recreational route, visiting famous landmarks and places such as the Huang Fei Hong Memorial, Doll Street, Southerly Ancient Stove, Hua Cheng Plaza, Guangzhou Opera House, and New Guangzhou TV tower. The group also paid a visit to the White Horse Clothing Market towards the end of the tour.

On the whole, it was a fun and entertaining trip, but it was the valuable insights derived from the undisputed leaders in trade that proved to be a life-altering learning experience for the group. Visiting the markets in Guangzhou, China to get a glimpse into trade and business, and applying the learnings back home will definitely contribute in its own way to India’s trade growth.

In a strong validation of our efforts to come up with unique, holistic and exceptional residential spaces that transgress the ordinary, one of our projects Osian Chlorophyll recently bagged the ‘Best High Rise Project 2018’ Award by Times Business Awards Realty 2018. Honouring excellence in real estate every year, the awards are picked out after careful deliberation amidst top real estate projects. With several worthy contenders in our category, our project managed to stand a cut above the rest and grabbed a spot as one of the Times Realty Icons for the year 2018.

The award ceremony was held on 28th September, 2018 at ITC Grand Chola and witnessed attendance from prominent personalities from across the real estate industry. Famed Bollywood actor Mr. John Abraham was also present at the event to distribute the awards to the recipients. Mr. Mayavan Gopinath, Founder, RG Construction, Mr. Surendranath M G, Joint MD, SPR & RG Constructions Private Limited and Mr. Chetan Bohra, Director of SPR Highliving, presided over the ceremony to accept the award from Times Group.