Observer Dawn

32 Editor Hariom Tyagi Managing Editor Achyut Nath Jha Consulting Editors Rakesh Purohit Manoj Chaturvedi lEgal Editor Makrand Pratap Singh CorrEspondEnts Rajkumar Chaudhry Amit Agarwal sub Editor Manish Kashyap salEs & MarkEting Ajeet Tyagi Shailender Chaudhry art dirECtor Anwarul Haque

Briefing 12 26

in focus Whose budget is it anyway?

When, on 28 february, finance minister came...

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Letter From the Editor

Now for the Reckoning Real estate companies which were waiting for succor were not pleased with the budgetary provision as no significant policy initiative was announced to bolster the realty.

I

t has never been an easy time for economists and policymakers to do a balancing act on the matters that seriously impact the nation and its citizens. Things go awry when global condition is not as conducive as it used to be. Even as US economy is on revival path and attempts are being made to stave o eurozone crisis which has badly aected countries like Greece and Spain, sentiments are not good enough to foresee optimism. In Asia, especially China and India, repercussion of global slowdown was felt slowly but steadily as could be seen through the lowering of exports and foreign investments.

In this backdrop, a cautious but pragmatic approach was needed and more attention was needed towards pushing the economy from the within. The recent budgetary exercise by Finance Minister P. Chidambaram could be seen in this perspective. Economists, by and large, hailed it citing the circumstance under which Budget 2013 was presented. But markets and India Inc didn't react enthusiastically as expectations were high from the FM. Real estate companies which were waiting for succor were not pleased with the budgetary provision as no significant policy initiative was announced to bolster the realty.

While controlling current account deficit (CAD) should be the priority which PC tried to do, industries were expecting some bold steps to see the overall growth. The need to focus on growth cannot be overemphasised as the economy will grow only at 5 per cent in 2012-13, the lowest in a decade. It was 6.2 per cent in 2011-12 and 9.3 per cent a year ago. The Economic Survey has projected growth in the range of 6.1 to 6.7 per cent for the next fiscal.

On the infrastructure front, some steps were taken like the provision for a regulatory authority for the road sector and tax-free infrastructure bonds to the tune of Rs 50,000 crore. But as one analyst puts it, devil lies in delivery and it is here the government seems to be lagging as projects or completion of several road projects including highways are stuck. Some major projects by foreign investors are caught in policy conundrum as government is yet to reach agreement on land acquisition and environment front. On foreign direct investment (FDI) in multi-brand retail chains, we have not received any application so far.

Big foreign retailers such as Walmart, Tesco and Carrefour have gone into wait- and- watch mode due to uncertainty over the issue. Amendments to the modifications in the Foreign Exchange Management Act (FEMA) are yet to be carried.

But, there is hope amidst despair. An HSBC survey said that among emerging markets, India expanded at a faster rate in February. And according to Deputy Chairman of the Planning Commission Montek Singh Ahluwalia, India has all the requirements to return to a GDP growth rate of 8 percent in the coming years.

Connect with Hariom Tyagi @harityagi2003 Hariom Tyagi Editor, Observer Dawn

@harityagi2003 @harityagi2003 @harityagi2003

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INteR vIeW

Face-to-Face with

Mr. Pradeep Jain

CMD, Parsvnath Developers Ltd. “the achievement of every breakthrough is a testimony to Parsvnath’s commitment.”

— Pradeep Jain

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grandiose opening and an unyielding perceptive shift created in 1990 and since then every year is marked with milepost of achievements and tremendous growth, leading to the emergence of an integrated real estate conglomerate. The achievement of every breakthrough is a testimony to Parsvnath’s commitment to its clients and stakeholders,

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vibrancy and unprecedented growth, with broad vision. And this was possible only because Mr Pradeep Jain under whose stewardship, company could prosper and continue to create a paradigm shift in India’s real estate. Under his leadership, the company achieved immense growth and expansion with few parallels in the annals of the Indian real estate and construction industry. Parsvnath is committed to `building a better world’

by transforming barren tracts into landscaped green belts housing world class commercial, residential and recreational properties. With a pan-India presence in about four dozen cities in 15 states, this realty major continues to create and build dreamscapes that transform lives through contemporary residential spaces, state-of-the-art office complexes, affordable housing, luxurious, shopping malls and hypermarkets, posh hotels, futuristic multiplexes, and ultra modern IT Parks and special economic zones (SEZs).

Yes, sometimes, there are unnecessary delays in procedures.

With infrastructure status, housing projects will be delivered on time. As the real estate contributes immensely to nation’s GDP growth, everything should be done to make it a hasslefree. Property transactions create big revenue for the government through stamp duty, property taxes etc. In NCR region of Uttar Pradesh, lowering the stamp duty over the years accelerated the growth of property market and government also could mobilize increased revenue.

In an interview with Achyut Nath Jha, Managing Editor, Observer Dawn at company’s corporate office in New Delhi, Pradeep Jain shares his views on how things associated with real estate could pan out.

Again there is clamour for a regulatory authority in real estate? Builders are still divided over some of the provisions included in the Bill. Your views

Excerpts Recently, Ajay Maken, the Union Ministry of Housing has asked the Finance Ministry to give infrastructure status to the housing sector. There are other steps needed to come from the government to boost the sector. As a big player in Indian realty, how do you see it?

I welcome Mr. Maken’s move to give infrastructure status to housing segment as it will accelerate the growth and bridge the gap between demand and supply, especially in affordable section. To meet the goal of making ‘one roof’ for everyone, other reliefs like tax exemption, one-window clearance for projects will go long way to make the sector vibrant. As you know, realty sector supports more than 250 industries in addition to creating employment in massive way. Increasing cost of land and other taxes make developers shy away from launching projects for the common man at affordable prices.

Both Centre and States should make specific provisions for encouraging investment in housing sector.

So, policy initiatives as given to infrastructure projects like highways will be a great propeller for the sector and governments’ revenue both at state and central levels.

I still hope for the Bill to be passed for giving an institutional mechanism to regulatory authority or ombudsman for transparency and accountability for giving the real estate an industry status. As you know, if things are not done in proper and transparent way, common man, buyers or investors suffer a lot.

For check and balance, regulator’s role is pre-eminent. Of course, there should be consensus on provisions to be included in the draft bill.

Parsvnath has presence across the nation. Will it go for further expansion or is it time to consolidate?

We are not on expansion plan rather we are on consolidation.

We have large presence in Delhi-NCR and northern states. We aim to execute our projects on time and see that we deliver all our projects as promised.

More specific about your projects in Delhi-NCR Parsvnath caters to the NCR-Delhi realty space with more than 20 projects. We have the largest presence in this region on all verticals. Most of the projects are on the verge of completion.

How do you differentiate your company from others?

People will really judge about the projects and distinguish us from others. As far as Parsvnath is concerned it has delivered whatever it has promised to its clients. n

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Whose

is It Anyway?

When, on 28 February, finance minister came in parliament with the trademark suitcase, everyone, from the great Indian common man to the super rich, was expecting ‘something’ from him. though an annual ritual, its significance lies in putting government’s document on its expenditure and earnings. Depending on which side of economic class you belong to, the budgetary allocation affects you, marginally or substantially. Did the budget carry what most of us expected? or we were left to fend for ourselves? In addition, there are some other questions that need to be answered: does the Budget have anything that will attract much needed foreign direct investment? Has it anything that will encourage Indian entrepreneurs to set up large industries? to be honest, their answers are in the negative. tough questions to be answered and tougher to point out where the solution lies.

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IN FoCUS Sideways

achyut nath Jha

Banking & finance

o country in the world is talking about a big bang,” Finance Minister P. Chidambaram said. “Is there a big bang coming out of the US? Is there a big bang coming out of Europe?” The categorical response came in reply to queries of Anand Mahindra of Mahindra & Mahindra through an online videoconference event that allowed anyone with an Internet connection to interact directly with the FM. “The critics have said this was a non-event,” Mahindra told PC in a Google ‘Hangout’ — “[Would you] say there was in fact a big bang concealed inside your budget, we just weren’t reading the signals correctly?” Across the larger segments, economists as well as political pundits seem to be disappointed by the lacklustre performance by the author of "Dream Budget."So, was the Budget 2013 much ado about nothing?

While FM failed to cheer the markets and the super-rich, some feel that he stuck to the basics and kept it simple.

Yes, given the precarious fiscal situation, Budget 2013 is devoid of fireworks associated with his previous big bang Budgets. Unveiling a balancing act between economics and politics, Finance Minister kept his promise of containing the fiscal deficit at 5.2 per cent and hiked outlays for welfare schemes, especially for the electorally important target segment of women, youth and poor. There were no changes in customs, excise and service tax rates. Much to the disappointment of the middle class, there were no changes in income tax slabs and benefits. Rs 2,000 tax credit has been allowed for those in the Rs 2-5 lakh tax bracket. On making housing sector affordable and increasing

State of the industry Agrregate bank credit is expected to grow 17-18% year on year in 2013-14, driven by improvement in agriculture growth, consumption-led recovery in the economy and pre-election welfare spending

Budget Impact The budget proposed to provide Rs. 14,000 crore as capital support to all public sector banks in 2013-14. The government also intends to help public sector banks comply with base-III regulation for 2013-14, banks have been directed to lend Rs. 7,00,000 crore to the agriculture sector, 21.7% higher than the 2012-13 target.

Farmers who avail of farm loans from public sector banks and repay in a timely manner, get loans at subsidized rates . they will now also be able to access this credit facility from private banks. Clear focus on boosting for financiers. An additional tax deduction of Rs. 1 lakh on interest paid towards home loans up to Rs 25 lakh for first time borrowers has been introduced for 2012-13, to give a boost to affordable housing.

Cement State of the industry Recovery in construction activity and infrastructures spending by the government could help cement demand grow 7% year on year in 2013-14. Average panindia cement prices are expected to rise by approximately 15% year-on-year in 2012-13, mainly driven by higher prices in the eastern parts of the Country. In 2013-14, prices are estimated to grow by a moderate 45%. For the past two years, the sector has been experiencing a slowdown due to margin pres-

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the consumption, first-time home buyers can avail a further deduction on interest expense of Rs 1 lakh for home loans up to Rs 25 lakh.

The Finance Minister hiked outlays for rural development, education, health, water and sanitation, SCs/STs and tribals.

For women voters, a Nirbhaya Fund of Rs 1,000 crore has been set up for safety and empowerment of women, in the memory of the Delhi gangrape victim. In addition, for the first time, an all-women bank has also been announced.

The Budget seeks to send a message by taxing the rich. Biting the bullet on super rich tax, a 10 per cent surcharge has been levied on those with income of more than Rs 1 crore, which is over 42,000 people. On the same theme, TDS of 1 per cent will be levied on sale of property of over Rs 50 lakh. Surcharge on both domestic and MNC companies has been raised on the tax paid. PC admitted that in a shrinking economy, there is little room to raise taxes or give away revenues. In his post-Budget press conference, he promised that more measures would be announced during the Budget passage in Parliament. He added that the Budget is not a one-stop measure but is a continuing process. The Budget faced criticism for not doing enough to revive growth. For the record, the GDP numbers for the October-December quarter came in at a shocker of a number at 4.5 per cent, the lowest in a decade, which is bound to add to the woes of the government.

Some have called it prudent and progressive, while others described it as dull and unimaginative. At a time when growth has almost halved, inflation and particularly food inflation is rampant,

the Budget seeks to send a message by taxing the rich. Biting the bullet on super rich tax, a 10 per cent surcharge has been levied on those with income of more than Rs 1 crore, which is over 42,000 people. on the same theme, tDS of 1 per cent will be levied on sale of property of over Rs 50 lakh.

IN FoCUS Sideways sures on firms and lack of demand from the housing industry.

Budget Impact The budget has proposed several schemes to boost infrastructure and housing segments. This is expected to aid demand for cement. However, this upside is likely to be offset by the increase in freight costs for cement companies, due to the proposed hike railway freight. The railway budget 2013-14 has proposed fuel adjustment component linked revision for freights rates.

Fertilizers State of the industry Domestic fertilizer demand is estimated to fall 12% year-on-year to 52.9 million tone in 2012-13, owing to a sharp decline in complex fertilizer demand in southern and western parts of the country in 2013-14, overall domestic fertilizer demands is expected to grow 8& year-on-year assuming a normal monsoon.

Stable urea prices and fall in retail prices of complex fertilizers.

Budget Impact In 2013-14 fertilizer subsidy is expected to stay constant at last year’s level of Rs. 65,900 crore.

Subsisidy on complex fertilizer is budgeted to decline by Rs. 1,000 crore even though demand is likely to improve as nutrient based subsidy rates are expected to be reduced due to softening in international prices. The increase in budgeted subsidy of Rs. 1,000 crore on indigenous urea for 2013-14 imples that the government is not expected to hike retail urea prices during the year.

Further, unavailable of incremental domestic natural gas will force plants converting from high cost naphtha/fuel oil feedstock to import gas at reltively higher spot prices, thus keeping subsidy burden high.

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savings and investment have fallen sharply, it should have been a make or break budget. But neither growth nor inflation got much attention. Granted that the fiscal deficit is down. But the moot question is: is it sustainable and manageable? The UPA government's instruments have been the raising of diesel prices, the promise that this will continue, over Rs 58,000 crore from disinvestment in unspecified public enterprises along with the sale of telecommunications spectrum, and some small additional taxation. Revenues from the disinvestment and spectrum seem high in light of past experience.

Opposition parties point out that his actions are largely politically oriented and towards policies that they think lead to election victory. He has not rationalized and made more effective the vast sums spent on the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), public distribution of grains and kerosene, the rural health mission, and so on. Indeed allocations are raised.

He has provided a modest Rs 10,000 crore for the ambitious food security bill. If it is implemented it will be hugely expensive.

There are some half-hearted measures to encourage long-term foreign institutional investment(FII). But the devil lies in delivery. The real block to foreign direct investment is the maze of procedural delays (land, environment clearances and so on). FM took infrastructure as the best stimulant for growth. However, poor regulatory responses are the root cause of declining investment interest. Road projects are stuck and there are problems galore with land, environment clearance and so on. The proposed road regulator will take at least 18 months to be effective. Of course, proposals for inflationlinked infrastructure through tax-free bonds are welcome and could stimulate domestic financial savers.

The much-sought-after tax reform through the direct tax code(DTC) and the goods and services tax(GST) is still a pipe dream due to lack of consensus between the Centre and states. The uncertainty on

Sideways

GST continues and there is just minor tinkering with indirect taxes. It’s high time, policy initiatives stuck in deadlock are moved forward to spearhead growth.

As far as real estate and property market is concerned, sentiments are where they were before.The Union Budget has evoked varying responses from home buyers, realtors and builders in Delhi-NCR. “Keeping in mind the overall sentiments of the economy, the Finance Minister has presented a balanced Budget that aims to spur growth and control inflation. The specific demands of the real estate sector, especially the grant of industry status, have again gone unheard. However, by means of increasing household savings, the Government has provided some incentive to low cost housing by giving additional Rs. 1 lakh tax benefit for first time home loan borrowers up to Rs 25 lakh.

The real estate sector would have needed a lot more at this juncture of the economy,” said Rohtas Goel, CMD, Omaxe. " The budget is a mixed budget where the expectations of the real estate sector has

Infrastructure : Roads

been majorly ignored and the tax relief for a housing loan wouldn’t prove beneficial for NCR as there are more or less no houses available for Rs 25 lacs or less in the NCR region,” opines Ashok Gupta, MD, Ajnara India Ltd. Ashok Awasthi, an employee in a private firm is planning to apply for a home loan. On being asked about the budget proposal, he says, “I was worrying about the financial burden but this additional deduction surely offers some relief to me.”

Bankers on their part feel that the exemption could encourage people to apply for housing loans. “Many people take loans to claim tax exemption and this increased limit could translate into more loan-seekers,” points out a senior executive from a leading bank.

Nikhil Jain, CEO, Ramprastha Group, says,“Many systemic elements have been set right in the 2013-14 Union budget to improve the condition of the real estate segment. However, the sector feels disappointed for not providing status of infrastructure and also imposition of 1% TDS on property worth more than Rs. 50 lakh will create an impact on the overall growth of the real estate industry.” Real estate entrepreneurs like Tarun Shienh, CMD Premia Projects Ltd., who have been expecting high from the budget, rue the fact that the Government has completely ignored the Indian real estate sector which may lead to adverse impacts on the Indian economy such as increased unemployment rates, reduced business investments, reduced off-takes on primary sectors such as mining and steel production, etc.

However, Sachin Sandhir, Managing Director, RICS-South Asia, looks into some positive signs that the budget carries.

“The budgetary announcements this year translate to a loud and clear message for real estate and construction sector. As in the past few years, the government has recognized the importance of funding infrastructure through sufficient government allocation to schemes and encouraging foreign investment. This is indicated in the bold step of doubling the outlay for JNNURM and Rs. 1 trillion target for infrastructure investment. We are happy to note that FM has announced an Rs. 2000 crore urban housing fund, in line with our recommendation. FM has also not disappointed home buyers by in-

State of the industry The healthy growth in awarding of national highways projects slowed down significantly in 2012-13. Several BOT (build-operate-transfer) projects have not been able to attract private participation given the highly leveraged financial profile of developers and concern over funding. Since bidder interest lacklusture. NHAI (national highway authority of india) plans to award a higher proportion of projects on the EPC model.

Budget Impact Issue of tax-free infrastructure bonds raised by the government agencies (including NHAI and Hudco) for infrastructure has been allowed once again in 2013-14, up to a total limit of Rs. 50,000 crore. This is expected to provide additional funds to the NHAI for executive national highway projects. The budget proposes to set up an independent regulatory authority for the roads sector. In the medium term, this could enable faster implementation of projects.

Real estate State of the industry Demand for residential real estate was subdued in 2012-13 due to weak consumer setiment and rising interest rates. Most realty firms were unable to sell their inventories. Consequently, project launches were slow.

Budget Impact First time home buyers availing of an upto RS.25 lakh loan in 2013-14 can get an additional interest deduction of Rs. 1 lakh in the first year, over and above the existing Rs.1.5 lakh benefit.

This is likely to boost new home sales. Allocation towards the

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IN FoCUS Sideways rural housing fund has been increased 50% to Rs.6,000 crore for 2013-14. An urban housing fund of Rs. 2,000 crore in 201314 has also been proposed.

These steps will boost fund availability and address housing shortage. For premium apartments (carpet area of 2,000 sq ft or above and/ or valued at Rs 1 crore or more), abatement in service tax has been reducted to 70% from 75%. While this would result in an increase of about 0.6% in effective service tax rate, the impact on demand is expected to be negligible.

Retail State of the industry Organized retail revenues are expected to grow at a subdued 8-10% in 2012-13 owing to a slowdown in consumer spending. During April-December 2012, same store sales of value retail grew at a slower pace vis a vis lifestyle retail, which in creased 9%. In spite of a low revenue margins of large retailers are estimated to remain stable at 8% in 2012-13 on a year-onyear basis. This can be attributed to a focused approach of retailers on improving the products mix to high margin categories, rationalization of store space, that is optimization of store space and closing of loss-making stores. Organized retail revenues are expected to improve to 14-15% in 2013-14 folowing an expected revival in consumer sentiment.

Budget Impact The overall impact is positive.

The zero excise duty route on readymade garments (constituting 35% of organized retail industry revenues ) is proposed to be restored. In 2012-13, the excise duty levied on apparels was 3.3%. margins of retail companies with a larger share of private labels could benefit more.

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creasing the home loan exemption limit and providing Rs 1 lakh interest benefit for loans up to Rs. 25 lakh, which will make homes more affordable," Sandhir explains.

Thus, we see that there are mixed reaction to budget. While it was not to the satisfaction of real estate as a whole, developers hope only rest with the ‘only silver lining’. Gaurav Gupta, spokesperson, Raj Nagar Extension Developers’ Association, says,” There is nothing substantial for real estate sector in the budget this year.

We had a lot of expectations that government would encourage the sector to meet the housing shortage in the country. Only silver lining in the cloud is the exemption in 80c of Rs one lakh to Rs 2.5 lakh for the first time home buyers. This will encourage the first time home buyers.”

Overall, real estate couldn’t get the push it needed. On the investment from, except some tweaking here and there, nothing substantial could be found. The Finance Minister, while presenting the Budget, claimed that there was no room for gloom and pessimism. But some months preceding the Budget saw a sharp reduction in industrial growth and

confidence in India as an investment destination. It is no exaggeration to say that there is more infrastructure development in China in one month than what happens in India in one year. Analysts rightly rue the fact that Chidambaram had a golden opportunity of sending the right signals to foreign and domestic investors.

But, there is nothing in this Budget that will attract much needed large foreign investments.

It is really tough to get answer to ‘whose budget is it anyway’, despite this being the last budget for the Congressled UPA government. Shrinking growth, high inflation and lack of farsightedness while framing the policy have already taken much of the sheen from the growth story the world was referring earlier. Disappointment from the budget also stemmed from the fact that people had great expectations from a market-friendly Chidambaram. But he failed to present a budget that pushed investment and helped growth. In trying to cobble together party ideology and economic growth, he could just manage to do a balancing act which, sorry to say, is not good for a long-term growth. n

Bouquets & Brickbats Introduction of 1% TDS on sale of property of more than Rs 50L plus the reduction in service tax abatement will surely hit the demand in the NCR region as most of the properties here are above Rs 50L. Buyers in tier II and III cities will not be affected much as there are not many projects falling in category and therefore the definition of luxury housing is apt for those cities. However, for metros like Mumbai and Delhi, even the basic housing cost is Rs 1 crore and this proposal will affect almost every buyer here. The increase in excise duty for marble will again hit the mid and the upper segment housing as they are the major users of marble. More or less the budget isnt that exciting about the real estate sector. Not giving the Industry status to this sector even after being a major contributor in GDP and one of the largest employer is another setback.

Mr. Ashish Gupta JMD, AGSGroup

The budget is a mixed budget where the expectations of the real estate sector has been majorly ignored and the proposed reforms will not be of any use for the NCR realty. The tax relief for a housing loan interest of Rs 25 lacs which has been increased to Rs 2.5 lacs from the previous Rs 1.5 lacs wont prove beneficial for NCR as there are more or less no houses available for Rs 25lacs or less in the NCR region. The increase in excise duty on marble and the service tax abatement on houses will only make luxury housing more costlier. We have been really asking for Industry status for our sector which has again been ignored.

Mr. Ashok Gupta MD, Ajnara India Ltd

We welcome the Finance Minister’s decision to grant an additional tax deduction of interest of up to Rs.1 lakh for a person taking the home loan up to Rs.25 lakh for the first time during the financial year 2013-14. The move will help promoting the affordable sector and will also widen employment opportunities for many in the construction sector.

This will boost the affordable housing and will be beneficial for the real estate sector.

Our Global Eco-city project which is located on NH-8 alongside the Delhi-Mumbai Industrial Corridor (DMIC) will see a surge in demand as the plans for seven new cities have been finalized and the project is also in a rapid progress.

Mr. Bhim Yadav, CMD, Falcon Realty Services

This may not address the concerns in Metros where the cost of property is high, but will in some way spur demand in tier II and III cities where property cost is in the range of Rs 30-40 lakhs. In fact, reduction in abatement on homes and flats with a carpet area of 2,000 sq. ft. or more or of a value of Rs 1 crore or more, will marginally increase the cost of luxury homes. The introduction of 1% TDS on sale of immovable property worth more than Rs 50 lakhs will only increase compliance. Overall, the real estate sector would have needed a lot more at this juncture of the economy.

Mr. Pankaj Kumar Jain MD, K World Group

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Reduction in the service tax rate of abatement will make homes upward of Rs 1 core more expensive for home buyers as the tax out go will go up. But the number of people who will be affected will be few as there are not many home buyers in this segment. These higher tax out go will be passed on to the home buyers. We really were hoping for Industry status for Real Estate sector which could have helped us in raising capital at lower interest but this has been a disappointment.

Mr. Prashant Tiwari CMD, Prateek Group

Keeping in mind the overall sentiments of the economy, the Finance Minister has presented a balanced Budget that aims to spur growth and control inflation. The Government has shown a firm commitment towards fiscal consolidation, a move that will boost investor confidence.

The Government has promised to reduce fiscal deficit to 4.8% in 2013-14 from 5.2% projected in 2012-13. The specific demands of the real estate sector, especially the grant of industry status, have again gone unheard. However, by means of increasing household savings, the Government has provided some incentive to low cost housing by giving additional Rs. 1 lakh tax benefit for first time home loan borrowers upto Rs 25 lakh.

Mr. Rohtas Goel CMD , Omaxe Ltd.

Demand for affordable housing will remain intact and it might increase, as low-cost housing loans up to Rs 15 lakh that were eligible for 1% interest subsidy has been retained. This year people might see a smooth market for houses that will not exceed the cost of Rs 25 lakh.

Though the sector was expecting some more good sops to be given to help boost this segment’s market but then we have to be content with whatever has been laid out in the budget.

Mr. Sanjay Rastogi Director, Saviour Builders Pvt. Ltd.

We happily welcome the 2013-2014 budget. It does lay an emphasis on growth in infrastructure sector. Encouragement of Infrastructure debt funds will inspire the potential buyer and investor to promote investment in the market, Also, The Finance Minister’s move to give affordable housing a boost is a very positive step for home buyers. Now buyers will be able to get an additional interest benefit of Rs. 1 lakh on first-time home loans up to Rs. 25 lakh

Mr. Kumar Bharat Director, BCC Infrastructure

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We welcome the positive announcement of budget by Government. It always gives an edge to encourage investment.

The budget prepared is basically to rationales the expenditure. Decision like Infrastructure tax-free bond of ` 50,000 crore bent down the buyer to think about investment. This budget is a mixed bag for Real Estate sector.

Mr.Diwakar Sharma Director, Shubhkamna Advert Group

The Union budget 2013 didn't give much boost to the real estate sector. Real Estate needed an industry status and supportive measures on easing of liquidity, relaxation of high tax structures , purchasing lands etc to put the sector back on the growth trajectory. Moreover, hike in indirect taxes and shifts in tax slabs will definitely impact the cost of delivery impacting overall incremental demand.

Mr. Gian Vijeshwar Chairman, International Amusement Ltd.

The Union Budget 2013-14 has seen few positive announcements which will enhance the condition of the real estate industry. The sentiments of end users will improve and enhance the interest to the real estate sector by the announcement of additional tax rebate from 1.5 lakhs to 2.5 lakhs for first time home buyers. Apart from the funding of Rs. 6000 crore and Rs. 2000 crore to the rural and urban housing segment will help in getting more capital to the market. However the real estate industry expected clarity on the real estate regulatory bill and land acquisition bill status of industry to the sector. Moreover 1% TDS on property worth more than 50 lakhs may affect the overall growth of the industry.

Mr. Neeraj Gulati MD, Assotech Realty

What Bank says The finance minister has extended an additional benefit of Rs.1 lakhon home loan upto Rs. 25 lakh for the first time property buyer.This deduction will be over & above the deduction of Rs1.5 lakh allowed for self occupied properties under section 24.However the cost of the property should not exceed more than Rs. 40/-lakh.This means a large number of buyers in metro cities will not be eligible for additional benefits.This would mostly be helpful for people who wants to buy a house in smaller cities or distant suburbs where the ticket size is lower.Another announcement which would impact the real estate sector is the 1% TDS on the transfer of immovable property with a market value of more than Rs. 50 lacs.Apart from the increase in transaction cost this will add to the paperwork for buyers.A person would now need a TAN to deduct tax on behalf of the central government,only then can he purchase an immovable property.The rate of abatement on homes & flats of more than 2000 sq.feet or costing Rs. 1 crore & above has been reduced from 75%to 70%.Effectively this translates into an increase in servicetax outflow,which means that luxury houses will now become even more expensive.

Mr. R.N.Singh Credit-Officer,Bank of Baroda, Alpha-1, Greater Noida

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There is not much to speak about in this year’s budget. However, allocation of fund for JNNURM will help the real estate indirectly as improvement in public road transport will make it easier to reach real estate destinations. Another good thing for real estate destinations like Bhiwadi is the exemption of Rs 1 lakh on loans up to 25 lakh.

"We welcome the Finance Minister’s decision to grant an additional tax deduction of interest of up to Rs.1 lakh for a person taking the home loan up to Rs.25 lakh for the first time during the financial year 2013-14. The move will help promoting the affordable sector and will also widen employment opportunities for many in the construction sector.

This will boost the affordable housing and will be beneficial for the real estate sector. Our Global Eco-city project which is located on NH-8 alongside the Delhi-Mumbai Industrial Corridor (DMIC) will see a surge in demand as the plans for seven new cities have been finalized and the project is also in a rapid progress."

Mr. Sumit Berry MD, BDI Group

The budget was said to be very bold and we were really expecting good things out of Budget 2013 but it didn't came out the way we expected it to be. Just like the sensex our expectations fell low as things got out of the bag. Increase on excise duty and lowering of service tax abatement will hit the luxury housing dearly. We were really expecting our finance minister to talk on granting Industry status to real estate sector but that went missing. We also hoped some reforms on single window clearance as it consumes alot of time and money but even that wasn't discussed. Tax relief on a housing loan upto Rs 25lacs might be of some help for people residing in Tier-II and Tier-III cities

Mr. Deepak Kapoor Director, Gulshan Homz

The announcement of National Housing Bank (NHB) setting up a Urban Housing Fund, tax sops for first housing loan of Rs 25 lakh and provision of an additional Rs 1 lakh rebate in addition to the existing Rs 1.5 lakh rebate will help to revive the demand for housing stock. The allocation of Rs 2000 crore for housing in the urban areas appears to be on the lower side considering that the estimated shortage of housing units is placed at more than 18 million units. Provision of Rs 6,000 crores in the rural areas would certainly result in more permanent constructions.

Mr. David Walker Executive Director, SARE Home

There is nothing substantial for real estate sector in the budget this year. We had a lot of expectations that government would encourage the sector to meet the housing shortage in the country. Only silver lining in the cloud is the exemption in 80c of Rs one lakh to Rs 2.5 lakh for the first time home buyers. This will encourage the first time home buyers.

Mr. Gaurav Gupta Spokesperson, Raj Nagar Extension Developers’ Association

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We did not expect this budget to be a game-changer. Overall, it was a fairly cheering Budget in general, but tepid for the Indian real estate sector. On the positive side, it provided a boost to affordable housing with an additional interest benefit of Rs one lakh on first-time home loans up to Rs. 25 lakh. However, this provision is only for the first year and with a carry-forward benefit of the unutilized deduction to the second year. This will help boost housing sales in tier 2 and 3 cities and peripheral areas and distant suburbs of metros, but not within the metros, where housing is more targeted towards the mid and upper income segments. Areas like Faridabad and Sonepat could see a marginal increase in property buying. The setting up of the Urban Housing Fund by the NHB with an allocation of Rs. 2000 crore will infuse liquidity for urban housing, thereby boosting demand. The Budget has also dealt a blow to upscale housing by reducing the abatement rate on homes worth above Rs one crore or of size more than 2000 square feet in area. Effectively, this translates into an increase in service tax outflow. The Finance Minister has once again turned a blind eye to our longstanding demand for industry status for the real estate sector to enable the fund-strapped sector access cheaper loans.

Mr. Nitesh Kumar COO, TDI Infrastructure Ltd.

Exemption of Rs 1 lakh on loans up to 25 lakh will benefit people buying homes in tier II and tier III cities, however in cities near tier I people will hardly benefit as there are very few options available in that price range. We were expecting that we will get something related to the sops that will benefit the buyers in tier I cities and periphery regions.

Then we have to see real estate in the light of likely price rise in many products such as petrol and increased service tax, which might affect the people’s buying capacity.

Mr. Rajesh Kumar Yadav MD, R-Tech Developers

It is very encouraging to see that the Central Government and the Finance Ministry are giving more priority to the Affordable Housing sector, as well as in the infrastructure development area. The move by the Finance Minister to boost the tax exemption for Housing Loans upto Rs. 25 lakh by 1 lakh will definitely add a much needed boost to the affordable home buying activity. The Service Tax differentiation between luxury and affordable properties also shows that the Finance Ministry is recognising the distinction between middle class home buyers for whom a house is a necessity and the HIG home buyer for whom home buying is a luxury.

Mr. Rishi Jain Director, Jain Group

The Union budget 2013 didn't give much boost to the real estate sector. Real Estate needed an industry status and supportive measures on easing of liquidity, relaxation of high tax structures , purchasing lands etc to put the sector back on the growth trajectory. Moreover, hike in indirect taxes and shifts in tax slabs will definitely impact the cost of delivery impacting overall incremental demand. However the allocation of 2000 crore to Urban Housing Fund and reduction in excise duty of cement by 12- 6 % looks positive for the sector. Interest rate deduction on Home loans up to 25 lakhs will provide relief to the customers to some extent.

Mr. Praveen Tyagi CMD, VVIP

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IN FoCUS In a freewheeling discussion with Observer Dawn, Tarun Shienh, CMD, Premia Projects Limited, shares incisive insights into several issues like impact of the Union Budget on India’s real estate sector.

With about two decades of experience in Finance, Investment and Real estate Services management, tarun Shienh successfully emerged as the real game changer and the journey continues to achieve one feat after another. As a dynamic entrepreneur, Shienh has taken big strides in managing, branding, re-inventing and leveraging his skills for the growth and sustenance of real estate sector. With an unbridled drive, he conceives ideas, plans them accordingly and implements them to the benefit of every stake-holder.

Excerpts Q. Waiting game is over. Does the Budget 2013-14 offer anything substantial to Indian Real Estate?

Tarun Shienh CMd, premia projects limited

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A. The Budget is simply not ‘encouraging’. Presently, Indian real estate sector faces challenges like increased land cost, delay in approvals, lack of availability of funds for developers’, under-developed infrastructure and shortage of skilled manpower. We had been demanding ‘infrastructure’ status for the real estate sector which in turn would have directly enhanced the availability of funding under the FDI, External Commercial Borrowing and Domestic Bank Lending routes. At least finance minister could have taken an initiative on this issue.

To make matters worse, the rate of abatement on homes and flats of above 2000 square feet or costing Rs.1 crore

and above has been reduced from 75% to 70%. Effectively, this translates into an increase in service tax outflow, which means that luxury housing will now become even more expensive. Sales velocity is anyway low in luxury housing which is going through a phase of slow demand. Reduction in the rate of abatement will further impact the sales.

The affluent home buyers will further take a hit with the proposed TDS of 1% on the value of the transfer of immovable property, where the consideration exceeds Rs. 50 lakh.

Q. Even if the Budget is not as encouraging as you wished, Finance Minister paid specific attention to infrastructure…

A. The FM in his budget speech admitted that “while every sector can absorb new investment, it is the infrastructure sector that needs large volumes of investment”.

The 12th Plan projects an investment of USD 1 Trillion or Rs. 55, 00,000 Crores in infrastructure. The Plan envisages that the private sector will share 47 percent of the investment. But where would that money come from. India in terms of growth is still far behind China and Indonesia and if, at all, that growth of 8% in GDP is to be achieved, special attention will have to be given to development of Infrastructure. New and innovative instruments will have to be drafted to mobilize funds.

The FM in his Budget Speech stated that Infrastructure Debt Funds (IDF) will be encouraged. India Infrastructure Finance Corporation Ltd (IIFCL), in partnership with the Asian Development Bank, will offer credit enhancement to infrastructure companies that wish to access the bond market to tap long term funds. Some institutions would continue to issue tax free bonds in 2013-14 to the tune of Rs. 50,000 Crores.

But these are far from what is actually needed by India.

Q. Raising funds is one big challenge realty sector is facing now and no policy initiative has been taken in this regard. Your comment.

A. Yes, Indian Real estate sector is facing continued pressure in terms of raising

funds for investment. Budget is also silent on the implementation of ‘REIT (Real Estate Investment Trust)’ guidelines which, on one hand, could have ensured steady supply of capital to real estate development and increased the supply of houses and on the other, it could have opened investment opportunities for individuals.

Q. Any silver linings for the investors and buyers?

A. There is only one silver lining in the budget that will bring some degree of cheer to many prospective home-buyers. Any person taking a first time home loan up to Rs 25 lakh during the financial year 2013-14 will be allowed an additional tax deduction of interest of up to Rs 1 lakh. This will help in promoting affordable housing.

Q. Tell us about the projects, which your company is working on right now.

A. Premia is developing India’s first state of the art, ultra luxurious Corporate city – ‘India’s 1st Corporate City’, keeping in mind the lifestyles of today’s Corporates. India’s 1st Corporate City in Greater Noida West will have bouquet of services including 5 Star Hotel, Corporate Offices, Serviced Studios, Power Villas, Golf course, Amusement Park, Exclusive Clubs and Retail mall with food court, Banquet Hall, Restaurants, Multiplex, Bar & Lounges, Banks etc.

The corporate city will have land area of 15 acres with 70% open space. Corporate Offices will be spread across 11, 00,000 sq. ft., Serviced apartments across 1, 50,000 sq. ft. and Mall across 2, 50,000 sq. ft.

Q. How much emphasis do you place on architectural excellence?

A. The word “Premia” itself has been derived from the word “Premium”, hence all the Projects launched by the company will have a Luxury / Ultra Luxury component incorporated in it.

The Company believes in bringing world class architectural excellence in all our projects. For our ongoing Corporate City Project – the Master Planning is being done by Singapore Based Design Team 3; the Landscape Consul-

tancy will be done by ADI Ltd, Hong Kong and Renowned Architects - Space Design etc.

Q .Your company is known for creating awareness among the customers. How do you manage it?

A. Customers are still reeling under the various issues like lack of transparency, land title clearance, financial issues etc., in this sector. All these create a sense of distrust and confusion among the buyers. They seem to rely mostly on word of mouth, hope, faith and belief rather than facts.

To counter this problem and create educated buyers, we at Premia have started direct interaction with potential buyers and as an initiative, started answering their queries related to real estate. Customers can directly connect with me through my Face book account, blogs and Twitter Profile. This is probably for the first time in India that the CMD of a premium real estate company is solving the problem of consumers. This will create a strong bond of trust and faith among buyers.

Q. How would you compare residential projects vis-a-vis commercial projects in terms of their potential for investment?

A. Commercial Real Estate Investment is less competitive and there is a higher probability of speedy appreciation taking in account the revenue generating aspect & commercial valuation. Residential Real Estate gives comparatively lower returns & appreciation than Commercial Real Estate.

Q. Tarun, you have a brilliant take on policy matters especially those associated with finance. How you see the RBI’s policy initiatives like rate cuts in repo and CRR? A. It is a positive step that would boost housing demand and encourage foreign investment in the sector. This would also lead to reduction in interest rates for buyers as well as builders and developers. It is a small but necessary positive move to boost investment as well as demand in the real estate sector. n

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oUtLooK

A Report by Synergy Property Development Services Pvt. Ltd.

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oUtLooK

T

he boom in India’s IT and ITeS sector in the recent past opened new vistas of growth for the country’s construction sector. As one multinational after another opened shop, the earthy Indian soil got dotted rapidly with sophisticated buildings, the likes of which Indian eyes were seeing for the very first time. Keeping in step with the changing times, the Indian construction sector has been quick to adapt to the situation. Sections of the construction industry have introduced contemporary international standards to give customers the best that money can buy, both in the residential and commercial segments. This report on the construction sector, attempts to answer some of the questions raised while forecasting the future. !e report throws light on the importance of the sector, not only for its stakeholders, but also for the country, as the fortunes of the construction sector is closely linked to the country’s GDP (Gross Domestic Product).

Engine of India’s Growth India’s robust and resilient services sector has been instrumental in successfully navigating India’s economy from the turbulence of the recent financial crisis. the services sectors’ growth is closely inter linked to the construction sector, which has seen an increase in the GDP contribution, up from 10.4 per cent in 200910 to 10.6 per cent in 2010-11. At a global level, the construction

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sector can propel India to realize its potential of becoming the country with the third largest GDP in the world in just two decades. As per the projections of the Development Policy and Perspective Policy(DPPP) Division of the Planning Commission, based on data computed by the International Monetary Fund (IMF), in 2025, the share of the developing and emerging countries in the Global GDP will be 48.9 per cent of which Asia’s share will be 28.9 per cent. Among the Asian countries, India’s share will stand tall at 7.1 percent. the fortunes of many a sector including cement, steel, sand, chemicals, paints, tiles, fitures and fittings, wood based products, plastics etc, will be closely intertwined with the ups and downs in the construction sector. To keep the sector steady, it is imperative for stakeholders to imbibe efficient management practices, while the government should develop pro-industry policies to provide the required impetus. the report mentions how despite strong recommendations from the construction sector, the 2012 Budget failed to meet many requirements in the wish list of the sector.

Shifting Sands of Change Winds of change are blowing across the Indian construction sector, and mega stakes will ensure that cost, quality and time remain the top priorities!

The Indian Construction sector and the real estate (residential

and commercial properties) are in the throes of an unprecedented change. there are many factors responsible for this change. the evolving preferences of the globe savvy customers have deeply influenced the design sensibilities and construction practices of the sector. At the same time, the shrinking labour market and the spiralling costs of materials are making the sector innovate strategies to keep within cost and time schedules, and yet deliver quality. Given the above, the Report looks at the some of the key reasons that made the construction sector shi" gears in the last decade.

Shrinking Labour Force There was a time when the construction sector was the largest traditional employer of labourers. Today, the shortage of labour has led to a paralysis of sorts in many construction projects, be they residential or commercial. Gradually, one is witnessing more of machines than men on a construction site. With the implementation of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), where villagers are entitled to 100 days of work, and wages as per the Minimum Wages Act, the migration of labourers to metros for work has reduced to some ex-

tent. As a growing number of labourers preferred to earn in their native place, the number of days spent in the cities as construction labourers reduced significantly.

Generation Shift The Generation Next (GenNext) is a generation which is independent in thinking, forward-looking and lot more worldly-wise.

GenNext is breaking away from tradition; hence there is a pronounced trend where the children do not normally follow their parents’ vocation. The son of a mason or a carpenter or a tile layer or a painter does not necessarily become one. Many in the next generation of traditional workers in the construction sector and related industries prefer to be educated, be employed or start their own enterprise.

International Benchmarks With a growing number of multi-nationals breaking the coconut on Indian soil, the first winds of change blew across the construction sector in the mid 90s. As the multi-nationals wanted similar global benchmarks to be replicated in India, international expert-

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oUtLooK ise and materials gradually found their way into the offices and homes of people. The trend triggered an irreversible process of a change in not just design but also in the mindset of people.

Carrying the Old Baton Unlike the labour sector, developers, builders and other entrepreneurs find their next generation carrying on the baton, considering that some have them struck it real good. Many new developers as well as the second generation of existing developers are eager to implement the learning gained in reputed national and international universities, and in multi-national construction firms. The new age developers are eager to push the envelope, given the evolving but exciting potential in India. At present, major developers in India feel that the country’s capabilities in the construction sector are at about 30 per cent of Singapore’s or the Middle East.

Spiraling Cost The ever-northward bound prices of materials and cost of construction is one of the reasons for the sector going through the pangs of change.

About a decade ago, if 700 to 800 construction workers were required on site for constructing about half a million sqft, today, the same work can be done by about 1/4 of the labor force. In the next decade, the number will come down even further. Sophisticated mechanical arms are rapidly constructing buildings reaching for the skies. !e increased trends of mechanization are irreversible and indispensable, changing the dynamics of the construction sector in a significant manner.

Timeline of Change It is not only in the methodologies and technologies that the Indian construction sector has, and still is, undergoing an unprecedented change. Synergy estimates that the global influence on the sector has gone by about 30% to 40% as of 2012 when compared to about 5% in 2002. It also anticipates a 70% to 80% increase in global practices being adopted by the sector by the end of the forthcoming decade (2022). The prices of core materials have witnessed significant escalation in prices. Please note that the prices have been derived based on broad trends in prices across the market. As the quality and quantity of commodities vary across the board, the above-mentioned table is broadly indicative of overall trends.

As it can be inferred from the table above, the

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percentage change indicates a significant increase in the cost of prices of core materials. Also, given the inffationary trends, the chances are that the prices of commodities will only increase in the future as well.

What does the future hold for one who is looking forward to buy that dream house or commercial property?

An investment in the present could very well be a timely one, and save the buyer the pangs of pain caused by inffationary trends. In this scenario, adoption of global practices and project management will help to streamline the sector and address issues related to cost, quality and time of construction.

Needs to get its Own House in Order The construction sector, especially residential and commercial property segments, which is at the cross roads, is due for a shake-up. This will lead to correction in different aspects such as cost of materials. Although many developers will continue to build buildings and make money, there will be others who will become history.

The ones to survive will be those who are gearing themselves now so that they can anticipate and cater to the rapidly evolving market requirements in the future. As said earlier, the mega stakes of the construction sector involves all the stakeholders of the sector including clients, developers, builders, suppliers of materials, secondary vendors etc in a significant way. The considerations of cost, quality and time are deeply impacted with every little change in the sector. So what are the mantras for survival and what should the construction sector do get its own house in order? protect the client: In order to ensure implementation of laws, the system must make a provision that unless all approvals are obtained, registration of residences and commercial complexes must not be permitted.

This is a trend prevalent in many countries, including those much smaller than India.

Make the building safe: Structural consultants are accountable for the structural safety of the building, including its foundation. In case any negligence is detected in this aspect, then there must be a provision for suspending the license of structural consultants.

Ensure Quality in building: All materials used in construction must meet the stipulated standards in terms of quality and safety. This includes not just raw materials but also fittings, pipes, plumbing, electrical cables, paints, etc. improve the Efficiency of the labour: The large body of unskilled workers, who constitute bulk of the workforce, can benefit by professional training. Some initiatives have been taken in this regard, e.g. National Skills Development Corporation (NSDC) is facilitating a Sec-

toral Skill Council (SSC) for the construction sector. An ambitious target of training-cum-certifying 35 million construction workers by 2022 has been fixed and the process of formation of the Skill Development Council for the Construction sector is already underway totally neglected. there needs to be mechanisms or guidelines for workers safety. there is no law to fine or take a contractor to task if he or she does not ensure safety at the work spot.

Mechanization Estimates indicate that the percentage of mechanization in India is around 20 per cent in comparison to the 60 and 70 per cent in developed countries. The presumption in India is that mechanization is cost intensive, especially in comparison to labour which is cheap.

In reality, this argument does not quite stand on a strong wicket as a surge in demand for labour would translate to wages going up. While there will be a marginal increase in cost of construction due to mechanization, project management companies and seasoned developers feel that the benefits will help to address issues of quality, cost and time in the long run.

Their vision is the reason why increasing number of construction sites and projects are increasingly engaging world class batching plants, tower cranes, hot plant mixers, earth moving equipment, stone crushers.

Their vision is the reason why increasing number of construction sites and projects are increasingly engaging world class batching plants, tower cranes, hot plant mixers, earth moving equipment, stone crushers.

At the same time, there has to be a concerted eort on the part of various builders, architects, engineers etc to encourage their clients to adopt mechanization. Global exposure on the latest trends in construction, construction equipment etc will motivate them further. future of the Construction The construction sector, and in particular, the residential and commercial properties, are in dire need of a one-stop solution to prevent cost and time overruns and ensure quality in construction. Is there one solution to address these three priority concerns of the industry? Probably not but certainly, the primary solutions can be found in eective management and in mechanization. Mechanization will bring down the time of construction, and thereby reduce cost overruns caused by delay. Given below are a few of key management trends and technologies that the industry is slowly but surely adopting. These hold promise to become a lifelines for the sector in the future.

Project Management As per the Ministry of Statistics and Programme Implementation, out of 601 projects undertaken between 2004 and 2009, the government delivered only 54 either on time or ahead of schedule. The factors responsible for the delay in the rest of the projects included delay in supply of equipment, slow pace of construction, fund constraints, and land acquisition issues etc. The private sector in the construction sector too grapples with many of these issues, especially labour shortage. these led to cost and time overruns on projects, disturbing the overall planning and implementation for commercial and residential complexes.

Issues related to quality of construction plague the sector. There have been several instances where, within weeks, if not months of moving in, occupants of an office or house begin to face problems due to faulty or poor quality construction. These range from frequent fusing of bulbs to leaking of roofs, to even reaction of flooring with the daily practice of mopping. These problems can arise if the client does not have the requisite in-house expertise to examine the issues in detail. A project management firm undertakes A to Z responsibility of implementing a project, bringing in a value-add in every aspect of the project. This upgrades the project to a whole new level in terms of design, quality, construction, and finishes.

While project management, mechanization and precast hold the potential to become the preferred best practice, there are several other changes expected in the construction sector. In particular, the residential and the commercial sector would welcome them as their respective customers have mega bucks at stake.

Some of these changes are given below the low cost housing, which is being neglected now, will catch the attention of the developers. Mechanization will be visible in a significant way in the low cost housing segment in the next five years.

Companies will rely less on individual brilliance, and become more corporatized. Temporary backlogs in the demand-supply paradigms will be created as the volumes are high but the vacuum will get filled by Indianplayers.

FDI and joint ventures between multinationals and Indian companies will increase.

The increase demand for good quality materials and finishes, which are presently mostly imported, will see companies start manufacturing facilities on Indian soil.

These changes are not without pangs of growth, but in the long run, they are expected to bring about a much needed positive restructuring of the sector. n

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Mr. Mohit arora Director, Supertech Ltd.

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ne explanation about India’s sustained economic growth and expansion has been the role played by young entrepreneurs whose relentless effort, inexhaustible energy, innovative ideas and never-to-die approach created a paradigm shift, heralding a new perspective in business growth. For them, legacy is fine but more than that it is their passion, enthusiasm and hard work that count and keep them glued to perform and succeed. Mohit Arora, director, realty major Supertech, embraces in him all that make him an important figure among young developers, especially in Delhi-NCR. Supertech,established by Mr. RK Arora in 1988 has been setting new trends and benchmarks of architectural excellence in the contemporary global scenario. An ISO 9001:2000 certified company; Supertech has successfully completed 24 years in real estate business and today it has revolutionized the real estate arena. Supertech Group is scaling new heights each day because of the engineering techniques, innovative designing, architectural finesse, quality and timely com-

pletion of the projects undertaken.

Supertech has been involved in building modern and finest residential, commercial complexes, townships, IT Parks and hotels in Delhi National Capital Region (NCR) and new urban settlement like Meerut, Moradabad, Haridwar and Rudrapur. Since its inception, the company has been responsible for the development of many of Delhi’s other well known urban housing colonies.

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Over 2 decades of experience in Real Estate, Hospitality & Construction

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Over 75 million square feet real estate under construction

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Projects worth Rs. 14,000 Crores in hand

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More than 500 hotel rooms are operational in different cities.

As a responsible corporate citizen, the company is involved in various Corporate Social Responsibility (CSR) Programmes;

Supertech’s foray into real estate and construction industry led to creation of various landmark real estate projects and has already converted more than 33 million sq. ft. area of residential and commercial entity into architectural landmarks and more than 36 projects that accommodates nearly 7,000 families.

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Driven by its commitment to create a better tomorrow, Supertech has come up with Kaksha, a singular initiative to impart quality education to underprivileged children at various construction sites. Besides, the company also provides school uniforms, books and toys to the children free of cost.

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Supertech solemnized 25 marriages for the poor section of the society in its ‘Samuhik Vivah Samahroh’

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Supertech has to its credit a customer base of more than 50,000

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More than 10,000 units delivered, till date 1,000 commercial units has been allocated

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Projects across 36 locations

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Mr. r.k arora CMD, Supertech Ltd.

the projects designed and constructed under the guidance of Mr. Arora have been highly accredited and recognized in the industry. Mr. Arora was also awarded the “Udyog Ratna” in the year 2001 for his contribution in real estate sector.

Presently, Mr. Arora is a member of Confederation of Real estate Developers Association of India (CReDAI).

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The Visionary and Prime Mover Ram Kishore Arora, Chairman & Managing Director of Supertech Limited has been controlling the affairs of the company since 1988. A graduate in B.E. Civil Engineering from Roorkee, Mr. Arora started the company with a vision of providing completeness to modern standards of living.

Mr. Arora has been actively involved with the setting up of all business initiatives and development functions for Supertech. His belief that a content livelihood is not only restricted to living in a quality space but is also connected to other aspects of life that complements standard living. To achieve this mission of providing these complementary things, Mr. Arora, with his business skill, dedication and commitment, entered into construction of shopping complexes, townships, IT Parks and hotels and completed the living of around 50,000 people across the country and took Supertech to scaling heights.

Under the visionary and dynamic leadership of Mr. Arora, Supertech has achieved mile stones such as alliances with brand names like Radisson Hotels & Resorts The projects designed and constructed under the guidance of Mr. Arora have been highly accredited and recognized in the industry. Mr. Arora was also awarded the “Udyog Ratna” in the year 2001 for his contribution in real estate sector. Presently, Mr. Arora is a member of Confederation of Real

Estate Developers Association of India (CREDAI).

Donning the Mettle Very few can deny that being born with a silver spoon helps. However, there comes a time when every scion from a business family has to prove his mettle.

Mohit Arora, 25 a young entrepreneur, aims and believes in setting trends rather than following them. Mohit had joined Supertech Limited, as Director, at a very young playful age of 22 years.

The name Supertech Limited, today, needs no introduction to the real estate fraternity. Under the new and dynamic leadership of Mohit Arora, Supertech is setting new benchmarks and scaling new heights.

Mohit, being young and dynamic, has embarked upon an aggressive strategy as of consolidating and expansionary plans. Among many other things, he is the main architect in evolving a new corporate identity of Supertech Limited.

He believes that new ideas and theories bring accomplishment to the organisation. With his fresh business acumen, Mohit’s endeavour is to introduce innovation and uniqueness in each of the projects.

Besides architectural finesse, quality and timely completion of the projects

are the key drivers of the contemporary realty world. Mohit is a firm believer of this and ‘timely delivery’ of the already launched projects is his mantra of success.

Mohit believes in team work and connects very well with his business associates and his colleagues. In his words “in a team-oriented environment, one contributes to the overall success of the organisation”.

Besides being a successful professional, Mohit also has a humanitarian side to him. He is a great Samaritan who believes in making the society a better place to live in by supporting the underprivileged. He is currently working on a CSR initiative to provide education

to the underprivileged children.

He is also a great sports enthusiast and one can spot him going for ‘birdie’ as he is an avid golf enthusiast!! Schooling has been in Delhi while graduation took him overseas where he accomplished civil engineering degree from Iowa State University, USA. Also holds degree of an architect from School of Planning, Delhi. Guess, it all began from there.

Projects to be superbly executed:

Supernova One of the latest and most unique offerings of the company is Supernova.

The project is India’s largest mixed-use development spread across 5 million

Spira, the tallest tower consists of modern high-end luxurious residences, suites, serviced apartments, a 5-star hotel, premium and luxury malls, futuristic offices and ultra luxurious condos topped off by a world class restaurant and bar.

sq. ft. of area, located in Sector 94, Noida, Uttar Pradesh. The project has five towers – Spira, the Iconic Tower, which is India’s tallest mixed use development of 80 floors standing at 300 meters, Nova East, Nova West, Astralis and a hotel tower.

Spira, the tallest tower consists of modern high-end luxurious residences, suites, serviced apartments, a 5-star hotel, premium and luxury malls, futuristic offices and ultra luxurious condos topped off by a world class restaurant and bar.

The 80 floor tower has 13 floors dedicated to residences which will be an epitome of super luxury and comfort with unmatched world class amenities and features. Some of the feature includes; home automation, integrated entertainment system, high end finishes, huge balcony space and temperature control. The residences also provide ultra fine taste of living with

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CoveR StoRy the construction of the project reached seventh level and is in full swing. the project is expected to be delivered in April 2015.

Seimatic kitchen, Interlubke wardrobe, Grohe & Duravit fittings and above all an iconic address to flaunt urban lifestyle.

Spira Residences are fully furnished vaastu friendly apartments spanning over an area of 3,000 sq. ft., 3,200 sq. ft., 3,900 sq. ft. and 4,200 sq. ft., designed to ensure maximum utilization of the usable area. These high end premium residences are priced between Rs. 5 crores to 7 crores. Spira also has a Helipad, an Observatory deck, an Exclusive club house, automated elevators and a panoramic view of the bird sanctuary.

The project is located on the banks of meandering Yamuna and strategically located that connects to the 45m wide Noida Expressway, upcoming 8-lane Kalindi Kunj and the proposed Metro Station connecting to Jasola commercial hub. Construction of the project is in full swing and the project is expected to complete by 2016.

North Eye North Eye in North India’s tallest residential development located in Sector 74, Noida, Uttar Pradesh. The tower stands at a height of 255 meters with 66 floors. Spread over an area of 9acres, the project comprises of fully furnished studio apartments and 2 & 3 BHK apartments and duplex, shopping malls, cafeteria, lobbies, creche, play school and a primary school. The project also has a club house, a multi cuisine restaurant, pub, gym, pool tables, cigar rooms, indoor lounge for reading and relaxation and outdoor terrace for enjoying fresh air, dance/yoga room, steam, sauna and spa room. It also has an observatory deck, an open-air restaurant and a Helipad.

The construction of the project reached seventh level and is in full swing. The project is expected to be delivered in April 2015.

The cost of the apartments range between Rs. 1.7 crores to 4 crores and studio apartments is Rs. 50 lakhs onwards.

Cape Town

Luxurious Drawing Room A world-class leisure and residential community spread out over approx 50 sprawling acres, CapeTown has 8 Variants of well planned (2,3,4 bedroom) apartments and penthouse towers,

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Luxury Villas spread over a green area.

The project comprises of upscale, well appointed apartments with modern conveniences such as a clubhouse, jogging track, swimming pool and more.

The project is located in Sector 74, Noida.

The 1st phase of the project has 17 towers, construction of which is in full swing. The towers have reached at the height of 12-19 floors. The project is expected to be completed by May 2013.

The second phase has 20 towers, possession of which is expected in October 2013. The construction has reached a level of 5th to 19th floors.

The price of the units starts from Rs. 46 lakhs and goes up to Rs. 1.19 crores.

Ritz Chateaux Ritz Chateaux is the limited edition Super-luxurious private villas at Cape Town, Sector 74, Noida. The villas are loaded with best of the modern day amenities, along with breathtaking ar-

chitecture. The 51 acre City Park right in front of the villas further adds to the beauty of this architectural marvel. Its close proximity to widespread greens makes the place more serene, amidst the incredible natural beauty in offer.

The villas are available in two sizes i.e. 307 sq. mtr. & 555 sq. mtr. that offer spacious living with amenities like private swimming pools, waterfalls, jacuzzi, airy interiors, home theatre, verdure gardens, avant-garde fixtures along with everything that befits a privileged few.

The cost of these premium villa starts from Rs. 12 crore and goes up to Rs 18 crores. The construction of the villas is in on and will be delivered by mid 2014.

ORB ORB is a 50 storey luxurious residential development located in Sector 74, Noida. This unprecedented 3 tower landmark boasts, futuristic luxury

homes with hi-tech automated facilities nestling amidst landscaped surroundings. The development is been scientifically designed for optimum energy efficiency and vaastu-compliant construction for maximum influx of positive energy.

ORB comprises of 3 and 4 BHK apartments and duplex penthouses. The project is been innovatively designed for maximum interior space for uninterrupted supply of air and 180 degree view. The project will also have a world class club on the ground floor connecting all the three towers.

These beautiful high end premium apartments are masterminded by renowned designer and actress Twinkle Khanna. The construction of the project is in full swing and the project is expected to be delivered by June 2015.The cost of the apartments starts from Rs. 1.27 crores and goes up to Rs 4.5 crores. n

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CoveR StoRy

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Project Details

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“Innovation is the Mantra of Supertech’s Success” one thing is sure Mr. Mohit Arora bets on new technology to drive businesses and achieve the next level for Supertech which is already a renowned name in real estate. In conversation with Observer Dawn, Mr. Arora tells about company’ ongoing projects, its latest foray and what makes him work so passionately.

Excerpts Supertech always keeps ahead when it comes to offer the latest and newest model of residential and commercial property to investors and buyers. How does company make this possible?

While developing housing landscape vertically, we are giving a next level of standardization keeping in mind all elements of modern living, luxurious lifestyle and comfortable ambience.

We keep on innovating till we realize that we are delivering the best.

At every stage, we bring in innovation with the latest technology which is reflected in both mass housing in our eco-village or high-rise building blocks we recently launched. While adapting to engineering marvel in construction works, we synergise and collaborate with best of technologies from the world. Also Supertech keeps abreast of people’s demand in changing scenario and accordingly planning and implementation is done. While developing housing landscape vertically, we are giving a next level of standardization keeping in mind all elements of modern living, luxurious lifestyle and comfortable ambience. We keep on innovating till we realize that we are delivering the best.

Sometime ago, market was abuzz with news about Supertech going public with IPO. How things stand now?

We are not in a hurry to get listed and come out with IPOs as the prevailing market is not suitable. We are rather devoting time and energy to projects already launched. Maybe, in two-three years from now, company’s management proceed in this direction.

Has your group entered into new foray like hospitality?

Yes, Supertech Group has already been running three five-star hotels as Hyphen brands like Hyphen Grand in Haridwar, Hyphen Premier in Meerut and Hyphen Hotel in Noida. Hyphen Grand, located in industrial hub of Haridwar, Sidcul, has been designed for the modern-day business traveler. Hyphen Premier offers a world of comfort and luxury. The Hyphen hotel ensures that its guests are always comfortable and well-connected.

There is great expectation from Supernova. Have construction activities on the site started in full swing?

In the three towers, construction and building process are already going ahead

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up to third floor. For Spira, we have collaborated with same designer, globally acclaimed Pei Cobb Freed and partners, who are designing world’s tallest residential building being developed by Lodha Developers. We are leaving no stone unturned to deliver the premium product timely without compromising in quality.

And the response from the real estate market…

Till now, people have not seen such type of realty spaces with immense potential in Delhi-NCR. The project has attracted tremendous response, unexpected in true sense of term. In term of leasing and renting, they are ready to fork out Rs 16ooo per sq. ft. in rental which is highest so far in Noida.

Big business houses which also include realty majors are experiencing generation shift to augment and instill young blood. At your age, when majority of young ones are clueless about their career and place, you look comfortable and confident to manage the affairs of a big company like Supertech. What’s the secret behind this stamina?

It’s my passion. Since my childhood, I was passionate about building. I was selfmotivated to do things I enjoyed doing the way I wanted. It’s the inner passion which keeps me going.

It’s my passion. Since my childhood, I was passionate about building. I was selfmotivated to do things I enjoyed doing the way I wanted. It’s the inner passion which keeps me going. n

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REPORT

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As far as India is concerned, challenges come from several quarters like restrictive operational clauses, non-availability rightlypriced real estate, diversified consumers and their shopping habits, unorganised domestic supply chain, different policy regimes that vary from state to state, and bureaucratic red tapism which retailers have to face.

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REPORT

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hat really matters heading into the next forty years is the demographics of your country's population, according to a new report released by HSBC. Many of the world's top economic powers are now in a state of permanent decline, due to ris-

ing amounts of retirees, declining amounts of workers, and population disadvantages.

And by 2050, they'll be replaced by fast rising emerging markets primed for growth due to high working age populations.

But which economies hold on to their spots and which surge forward?

Fifteen Biggest Economy of The World RANK 15 : Russia Size of Economy (Year 2000 dollars): $1.88 trillion Income per capita (Year 2000 dollars): $16,174 Detail : One of the BRIC countries, it's a bit surprising to see Russia behind other emerging markets. It does gain 20 places, in terms of its size of economy, over the next 40 years.

This low movement is the result of the deep decline in the working age population in the country

RANK 14 : Spain Size of Economy (Year 2000 dollars): $1.95 trillion Income per capita (Year 2000 dollars): $38,111 Detail: Spain slips two spots in terms of the size of its economy, from 2010 to 2050. This is due to the rise in amount of retired people, and decline in the working population.

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RANK 13 : South Korea Size of Economy (Year 2000 dollars): $2.06 trillion Income per capita (Year 2000 dollars): $46,657 Detail: South Korea too slips two spots between 2010 and 2050, and you can see why. The economy is losing a great deal of its working population by 2050, and retirees are spiking.

RANK 12 : Turkey Size of Economy (Year 2000 dollars): $2.15 trillion Income per capita (Year 2000 dollars): $22,063 Detail: Turkey is one of the biggest risers in the top 15, jumping six spots as a result of its growing working population. Somewhat worrying is the decline in those seeking education, which may be impacting the income per capita number negatively.

RANK 11 : Italy Size of Economy (Year 2000 dollars): $2.19 trillion Income per capita (Year 2000 dollars): $38,445 Detail: Italy tells the familiar story of the demographic crisis facing Europe. Lower birth rates means a declining working age population, and with it a surge in retirees. Italy falls four spots in size of economy rank between now and 2050.

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REPORT RANK 10 : Canada Size of Economy (Year 2000 dollars): $2.29 trillion Income per capita (Year 2000 dollars): $51,485 Detail: Canada's ranking doesn't budge over the 40-year period, with the working population growing. Retirees too grow, so Canada remains balanced over this time period, with a strong income per capita.

RANK 09 : France Size of Economy (Year 2000 dollars): $2.75 trillion Income per capita (Year 2000 dollars): $40,643 Detail: The European demographic story personiďŹ ed, France's working population is in decline and its retirees are rising. This means the French lose 3 places between 2010 and 2050.

RANK 08 : Mexico Size of Economy (Year 2000 dollars): $2.81 trillion Income per capita (Year 2000 dollars): $21,793 Detail: Mexico really kicks it into high gear around 2030, when its working age population booms. As a result, Mexico rises 5 spots in terms of the size of its economy, between 2010 and 2050.

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RANK 07 : Brazil Size of Economy (Year 2000 dollars): $2.96 trillion Income per capita (Year 2000 dollars): $13,547 Detail: Brazil may be surprising in how little it moves, only two spots over the 40 year period.

This may be due to the decline of Brazilian workers after 2030, and the increase in retirees.

RANK 06 : UK Size of Economy (Year 2000 dollars): $3.58 trillion Income per capita (Year 2000 dollars): $49,412 Detail: The UK falls only one spot in terms of the size of its economy, a product of its higher birth rates than many other European economies. Its income per capita is one of the highest.

RANK 05 : Germany Size of Economy (Year 2000 dollars): $3.71 trillion Income per capita (Year 2000 dollars): $52,683 Detail: Germany also slips a spot, but its working age population looks ďŹ rmly in decline by 2030.

While income per capita remains high, this demographic trend should be a concern for the eurozone's powerhouse.

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REPORT

RANK 04 : Japan Size of Economy (Year 2000 dollars): $6.43 trillion Income per capita (Year 2000 dollars): $63,244 Detail: With all the negative talk about the Japanese economy and its demographics, it is somewhat surprising it only falls two places in terms of its economic rank between 2010 and 2050. The sharp decline in students be educated and its working age population means things are only going to get worse, most likely.

RANK 03 : India Size of Economy (Year 2000 dollars): $8.17 trillion Income per capita (Year 2000 dollars): $5,060 Detail: India's boom is the second biggest in the top 15, rising 5 spots in terms of the size of its total economy. It retains relatively few retired persons, and the working age population also continues to grow.

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RANK 02: United States Size of Economy (Year 2000 dollars): $22.27 trillion Income per capita (Year 2000 dollars): $55,134 Detail: The U.S. economy slips o its perch, dropping one spot. Its strong working age population growth is only mitigated by the rise in retirees.

Its income per capita is the second best in the top 15.

RANK 01 : China Size of Economy (Year 2000 dollars): $24.62 trillion Income per capita (Year 2000 dollars): $17.372 Detail : Rising two places to the top, China becomes the world's biggest economy by 2050.

While the demographic trend stops improving after 2030, its growth through 2050 remains strong.

Source by: United Nations, HSBC

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AuTOMOBIlE

Sometimes it is time to leave the city. Escape the restrictions of everyday life. The BMW i8 is an icon of progress. It combines the energizing performance of a sports car with benchmark efficiency.

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AuTOMOBIlE

BMW i8 Concept Emotional, Dynamic and Efficient

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fter successful initial testing of the vehicle concept, the decision for a series-production vehicle was quickly made. The BMW i8 Concept is the next step in the evolution of the BMW Vision EfficientDynamics Concept. The result: The most progressive and innovative sports car of its time. Its innovative plug-in hybrid concept combines the modified electric drive system from the BMW i3 Concept – fitted over its front axle – with a highperformance three-cylinder combustion engine producing 164 kW/220 hp and 300 Nm (221 lb-ft) at the rear. Working in tandem, they allow the two drive systems to display their respective talents to the full, delivering the performance of a sports car but the fuel consumption of a small car.

Acceleration of 0 to 100 km/h (62 mph) in under five seconds combined with fuel consumption in the European cycle of 2.7 litres per 100 kilometres (approx. 104 mpg imp) are figures currently beyond the capability of any vehicle powered by a combustion engine of comparable performance. Thanks to the eDrive technology with its large lithium-ion battery, which can be charged from a domestic power supply, the BMW i8 Concept can travel up to 35 kilometres (approx. 20 miles) on electric power alone. Added to which, the 2+2-seater offers enough space for four people, giving it a high level of everyday practicality.

The architecture of the BMW i8 Concept has been carefully

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adapted to enhance the vehicle's sports car character, and therefore to deliver unbeatable performance and excellent driving dynamics. The motor in the front axle module and combustion engine at the rear are connected by an "energy tunnel", which houses the high-voltage battery. This gives the car a low centre of gravity – and the dynamic benefits that come with it.

The positioning of the electric motor and engine over their respective axles and the space-saving and well-balanced packaging of all components result in an optimum 50/50 weight distribution. BMW i proudly introduces the BMW i8 Concept Spyder. The combination of intelligent, lightweight design and cutting edge BMW eDrive technology imbues this new model with genuine sports car performance, yet its fuel consumption is no greater than that of a small car.

The BMW i8 Concept Spyder is powered by the groundbreaking BMW eDrive technology, consisting of an agile BMW electric motor, innovative battery technology and an intelligent engine management system, coupled with a TwinPower Turbo combustion engine. In a show of unmatched coordination – and due to the car's minimised weight – this two-seated, opentop sports car reaches a combined system output of up to 260 kW (354 hp) while using no more than 2.7 litres of fuel at 100 km*. The BMW i8 Concept Spyder proves that you should never underestimate the potential of electricity.

The emotional design of the BMW i8 Concept ensures its qualities are clear for all to see. Its dynamic proportions give the BMW i8 Concept the appearance of surging forward before it even turns a wheel and lend visual form to its extraordinary performance.

The sporting character continues into the interior. Boasting a

driver-focused environment unmatched by any BMW Group vehicle before it, the BMW i8 Concept immerses the driver fully in the unique driving experience. The BMW i8 Concept is the sports car for a new generation – pure, emotional and sustainable.

The design of the BMW i8 Concept is as special as the car's overall concept embodying the perfect synthesis of technology and aesthetic allure. Its sweeping lines and flat silhouette lend the vehicle a strikingly dynamic appearance even when standing still. A large, transparent greenhouse lends the exterior an extraordinary feeling of lightness and highlights the exceptional efficiency of this vehicle concept.

Short front and rear overhangs round off the sporting overall impression. Despite its dynamic appearance, the 2+2-seater can accommodate four people, giving it a high degree of everyday practicality.

As with the BMW i3 Concept, layering again serves as the central design element of the interior and exterior. The individual vehicle components are also clearly visible from the outside, the black and transparent Life module clearly setting itself apart from the silver-coloured body components around it. This layering approach lends the BMW i8 Concept an extremely technical and cutting-edge appeal.

Dynamic side view Taut surfaces and precise edges form an extremely sculptural and organic surface structure. The precise lines along its flanks and BMW i "stream flow" also give the BMW i8 Concept a strong sense of powering forward even when it is standing still.

The BMW i8 Concept's doors swing upwards like wings to provide an undeniably emotional and sporting allure. Below the doors, the silver-coloured layer moulds the car's flanks into a powerful wedge shape, opening out from the door sills towards the rear. A blue flourish accentuates the dynamic presence of the sills. Together, the bonnet and door sill sculpting emphasise the BMW i8 Concept's forward-surging stance, and their smooth lines imbue the car with a touch of lightness.

Striking Front End The BMW i8 Concept also displays its dynamic sports car persona when viewed from the front. A number of different levels interact with one another in the design of the front end, while the expressive surface treatment exudes dynamic verve and advertises the car's sporting potential. The full-LED headlights of the BMW i8 Concept are designed as two Us h a p e d

configurations. A black, semi-transparent "V" rises out of the bonnet just behind the kidney grille, opening out towards the windscreen and guiding the eye to the electric motor below.

The "V" also offers the first glimpse of the CFRP module and extends back towards the rear like a black band to provide a visual connection between the different sections of the car.

Sporty Rear End Similarly to the front end, the rear of the car is also very low, horizontal and sculptural in design. The silver-coloured side sections form a striking vertical frame around the rear of the car, with a precise line extending out to the sides enjoying particular prominence. In its centre the silver-coloured and blueframed rear diffuser is a wider and lower interpretation of the version on the BMW i3 Concept, adding a distinct sporting flavour to its relationship with its stablemate.

At the rear, the car's exceptional sporting credentials are also expressed in width-accentuating lines, three-dimensional air outlets and "floating" tail lights with air through-flow. The tail lights, which also have a distinct horizontal design, are integrated into the upper layer of the rear and share the signature U-shape of the BMW i light concept.

Purpose-Built Interior The transparent surfaces in the doors and roof give the exterior and interior design of the BMW i8 Concept the appearance of merging into one another. The colour concept and underlying structure of the BMW i8 Concept interior closely mimic those of the BMW i3 Concept. Here again, the Porcelain White support structure, black technical level and comfort section with Mocha Brown leather are split into three different layers. The arrangement of the air vents, control panels and displays also betrays the car's family ties to its BMW i3 Concept sibling. Overall, however, these features have a more sporting character and are geared much more clearly towards the driver. Indeed, a level of driver focus beyond that of any BMW Group vehicle before it allows the BMW i8 Concept to immerse the driver fully in the unique experience behind the wheel. Driver-relevant functions such as the gearshift lever, start-stop button and parking brake are arranged around the driver on the centre console and are graphically strongly geared towards the driving seat as well. The three-dimensional displays are extremely clear and flash up the relevant information for the driving situation at hand. At the same time, occupants in the BMW i8 Concept sit in a highly integrated position low down in the car and are separated by the battery running lengthways through the interior. This longitudinal bisection of the cabin underlines the sporting and forward-looking character of the BMW i8 Concept interior. n

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InTERIOR

Luxury Lifestyle

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InTERIOR

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EvEnt

Amr Group Diversifies into PREMIUM RESIDENTIAL SEGMENT ANNOUNCES THREE NEW PROJECTS

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A

MR Infrastructures Ltd., one of the leading real estate development enterprises in India today announced the diversification of its portfolio.

Known more for commercial projects and IT parks, it is now entering the premium residential segment as well. On the occasion of the Bhoomi Pujan celebrations of the first of the three luxury dwelling unit projects – Apartment 55, a gala entertainment program was organized that featured performances by Sabri Brothers, Akhil Sachdeva (Nasha Band), Jasleen Kaur (winner of India’s Got Talent) and Sufi Satish (Indian classical and western music jugalbandi). The important guests present at the occasion were film actor- Director Satish Kaushik and Mira (Pakistani Actress).

According to Mr. Kapil Aggarwal, Managing Director, AMR Group, “Through a fully owned subsidiary company by the name of AMR Infra Solutions Pvt. Ltd., we are now making an emphatic foray into the luxury dwelling units segment.

This is primarily owing to the ever increasing acceptance and ensuing demand for such high-end homes for which the affording patrons do not mind paying a premium. We

are coming up with three big luxury residential projects in the near future which shall personify opulence and comfort.

And to embody these desired traits in our projects, we have tied up with none other than Manish Arora, one of the finest designers. He and his team shall personally style and customize each of the units as per the preferences of the upwardly mobile and nouveau riche community owners at whom our projects are primarily targeted.

Apartment 55 limited edition homes at Greater Noida - a future-proof city planned with obsession - shall be the best example of architecture and design for new lifestyle sans any compromise on functionality. Being made at a projected cost of Rs 100 crore and spread over 1.78 lakh sq. ft., Apartment 55 residential units have every conceivable facility that there can be. Home owners shall have access to an exclusive club that has provisions like badminton courts, health and fitness center, swimming pool, meditation avenues etc. Not to forget the fact that 65% of the area has been dedicated to open spaces and greenery.

Elucidating on the potential of Greater Noida, Mr. Aggarwal

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EvEnt

added that this satellite city of national capital has great potential when it comes to residential and commercial projects considering the development that’s currently happening and has taken place in the recent past. The Yamuna Expressway has become operational which has led to significant appreciation of residential as well as commercial property. As and when the metro connectivity makes the city more accessible, we’ll see a lot of people taking up residences in Greater Noida. In the recent past, we have witnessed a lot of corporate including multinationals setting up their offices here. Moreover, Greater Noida is replete with all modern amenities like hospitals, schools, engineering institutes and medical colleges etc.

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Apartment 55 residents shall have the unique advantage in terms of world-class projects in vicinity. For example, Greater Noida has a state of the art exposition center which is becoming the new MICE destination of India; a Night Safari (fourth of its kind in the world, poised to make Greater Noida a tourist destination, designed by globally renowned Bernard Harrison); Gautam Buddha University (one of the biggest in Asia); Formula 1 track; cricket stadium; and the strategic Faridabd-Noida-Gurgaon (FNG) corridor. What’s more, AMR Group is also coming up with the first of its kind adventure and entertainment destination in India by the name of The Great Adventure Mall in Greater Noida itself. n

L to R : Ms. Aasha Dwivedi, Mr. Rajesh Chauhan, Ms. Mamta Kiran, Mr. Lakshmi Shankar Vajpayee, Mr. Badri Vishal, Mr. Pankaj Singh, Mr. Dharam Prakash, Mr. Pushkar Pandey, Mr. Harsh Raj Dwivedi and Mr. Salim Shivalvi during Kavi Sammelan( Gathering of Poets) at Shri Mangalam College.

Spread and Encouragement for Hindi

A

Kavi Sammelan was organised at Sector-62, Noida-based Shri Mangalam College under the aegis of Shri Mangalam College and Alakh Foundation to spearhead Raj Bhasha Hindi. Chief Guest Shri Pankaj Singh( general secretary, BJP, UP),

Special Guest Shri Mahesh Sharma( MLA, Noida) and Shri Nawab Singh Nagar( senior leader, BJP) graced the occasion with their presence. Singh praised this eort and saidthat such gatherings would bring in awreness among the Noida citizens.

Spectators enjoyed the moment created

Mr. Pankaj Singh and Mr. Hariom Tyagi

by spontaneous pourings by poets like Shri Lakshmi Shankar Vajpayee, Shri Rajesh Chetan, Shri Dharam Prakash, Shri Badri Vishal, Shri Salim Shivalvi, Ms Nalini and Smt. Mamata Kiran. Their renderings, sometimes, mixed in homour and satire were deeply appreciated in the audience.

Mr. Pankaj Singh, Mr. Pushkar Pandey, Mr. Mahesh Sharma, Mr. Hasrh Raj Dwivedi (Shri Mangalam College) MARCH 2013 OBSERVER DAWN

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golf

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ttar Pradesh now has a team in India’s first ever premier golfing league, Pearl Golf Premier League (GPL), that is being organized in IPL like format at the Aamby Valley Golf Course, Aamby Valley City, Maharashtra from 8th to 10th of this month. Shubhkamna UP Eagles team is owned by Real Estate giants Shubhkamna Advert Group who are a highly trusted and respected name in group housing projects in Noida, Greater Noida and Gurgaon.

Shubhkamna UP Eagles were

UP Fields Its Team, Shubhkamna UP

Eagles at India’s First Ever Premier Golfing League Real Estate giants Shubhkamna Advert group is the franchise owners of the UP team Shubhkamna UP Eagles were the highest spenders at Rs. 82.5 lakhs (USD1, 50,000) in player auctions also the highest spenders at the players’ auction withRs. 82.5 lakhs (US$1, 50,000). A sum of over Rs. 3.83 crores (around USD 700,000) was spent by 8 franchisees for 24 top international and international players at this auctionin Mumbai on Saturday, 2nd Feb, 2013. The 2005 US Open champion, New Zealand's Michael Campbell was picked by Shubhkamna UP Eagles for the highest figure of Rs. 33.55 lakhs

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The three day tournament GPL is an approved event by the Asian Tour and the Professional Golf Tour of India (PGTI). The tournament includes eight privately owned franchise based teams, each comprising four top international and Indian professional golfers.

(USD 61,000). Two time PGA tour winner Daniel Chopra of IndoSwedish origin was also picked

by Shubhkamna UP Eagles for USD 37, 000. Among Indian internationals AnirbanLahiri (USD 52,000) who became the first player ever to go under the hammer along with Shamim Khan were bought by Shubhkamna UP Eagles.

Expressing his delight on the occasion Mr. PiyushTiwari, Director, Shubhkamna Advert Group and owner of Shubhkamna UP Eagles, himself an avid golfer said, “Golf is a sport that is really close to my heart and GPL is a great platform to bring this classy sport to the youth of the country. We feel really proud to be part of this endeavor. We have spent heavily and got a very good team with players like Micheal, Daniel and Anirban so we can do well in the tournament.”

Divulging on the reason behind fielding UP team Mr. Diwakar Sharma, Director, Shubhkamna Advert Group and owner of Shubhkamna UP Eagles said, “As a real estate developer in Noida and Greater Noida we have a deep connection with the soil of UP and we want to give something to the great state. UP has had a long and glorious tradition in sports and now we want to carve a niche in Golf through this tournament. We have even included various sporting facilities including golf courses to promote sports as a lifestyle.”

The three day tournament GPL is an approved event by the Asian Tour and the Professional Golf Tour of India (PGTI). The tournament includes eight privately owned franchise based teams, each comprising four top international and Indian professional golfers. Top international golfers such as Michael Campbell, Colin Montgomerie, Darren Clarke, Angel Cabrera, and Rich Beem will play in India for the first time. n

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book REviEw

The Almond

Tree Mohammad Aleem

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t has always been a pleasure for me to read a good book but so rarely it comes in hand. This year, I have just finished my first book and I am pretty glad about it. This is The Almond Tree, penned by Michelle Cohen Corasanti and published by Garnet, UK, in 2012. This is a novel which runs around in three hundred fifty pages and it contains fifty eight chapters.

The book is all about the day-to-day struggle and triumph of a Palestinian boy, Ichmad Hamid who later on turns to be a Nobel Prize winner in Physics. It looks like a fairy tale because if we look at the background of Ichmad, it seems a pretty unachievable task because he comes from a very poor background. But it also strengthens the long held conviction that if one struggles hard and learns to live in dierent circumstances keeping his or her aim high, he or she may succeed, no matter at what time and how it comes. For Ichmad, though it was hard even to dream for a good cloth to wear and go to school regularly because his father, Baba is imprisoned in a cattle pen like security prison of Israel, perched in a barren and secluded desert for no any apparent reason. The only fault of that man was that some rugs had hid some arms and ammunitions in the courtyard of his house and he knew nothing about it. It was also coincidently the birthday of Ichmad and the family was celebrating its quite modestly that night when that ignominious incident had taken place. They

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live in a one room shabby house which even that gets destroyed by the Israeli bulldozer when they come to know about the arms hidden there in front of their house. Ichmad luckily finds out who has hid that ammunition. He was with a militant group fighting to liberate his motherland from the chocking shackle of Israelis but he gets caught by the security forces and reveals all his activities including his act of hiding the arms near the house of Ichmad. When Ichmad confronts with him in the night when the family was happily celebrating his birthday quite modestly because they had nothing to do lavishly, he threatens to shoot him and wipe out his entire family if dares to reveal about it to any, especially Israelis.

For Ichmad, it is a diďŹƒcult situation to cope with. He is only twelve years old then.

He gets caught in the web of violence. He fears both from the militant groups and the Israeli army. But finally his father and his whole family pay the price.

The Israeli rouge soldiers punish him brutally with total disregard of the human propriety and dignity. And even they raze their tent like house to the ground like. Though once upon a time, his family was rich and they owned a big plot of fertile land on which they used to grow oranges, olive and other food crops suitable for that area. The story is of a village which is perched near the border of Palestine and Is-

rael. This village comes under jurisdiction of Israel and they leave not any chance unused to harass them and to make them feel like a slave and more than that. They live a wretched life. They have no freedom even to breathe freely. They can’t think of sending their students to school but they have to turn to the fields and construction building sites and slaughterhouses to earn their livings.

The story begins with a sad note. Ichmad has a big family. Among his siblings, he is the eldest. He's one of the sisters Amal gets killed by an explosion of mine which was laid just nearby their home and the Israeli army was pretty aware about those dangers. But they would never pay heed to such things. For them, killing innocent and unarmed Palestinians was just like killing some flies. They would never seem to take these incidents as a human should take.

“The next part was like slow motion. Like someone threw her up in the air. Smoke and fire were under her and the smile flew away. The sound hits us- really hard. And when I looked to where she was, she was gone. Just gone, I couldn’t hear anything.” (P, 5) This is the gory scene which the family witness while seeing their eldest daughter going into flames and soon after that devastating blast, they find her dead and completely disfigured.

The second deaths come in the house when the security forces come to take Ichmad’s father into their custody. They beat him badly in front of his family members and even don’t spare small children. And Ichmad’s second sister in line succumbs to their mindless violence.

After the incarceration of his father, Ichmad is forced to work at the building construction sites to earn a living. He now learns to live like a grown up man who could provide succor to his family. His younger brother, Abbas also goes to work with him because it was necessary for them to survive. There Abbas and Ichmad were treated not like a normal child but of an outcast class and every type of ill treatment they get there. On an ill-fated day, one thick headed Iraqi immigrant Jew tortures Abbas badly for not doing his work properly.

He suffers deadly fractures and gets hospitalized. He becomes paralyzed. For many years, he lives in the hospital. This is another big problem for the impoverished family. That incident not only breaks the body of that crippled boy but his soul and mind also. He later on turns hostile to Israel and leaves his village to join a militant organization at Gaza. He now

constantly grudges against his enemy and tires to avenge all humiliation and disgust received at the hand of Israeli. But this situation makes Ichmad and his family more vulnerable and harassments increase.

Ichmad is saved from such inglorious situation by a prudent and wise teacher who teaches him at the school. Ichmad is quite an intelligent boy. Especially, in science, his minds just fly like a bird in the sky. He loves to calculate the even difficult calculations in a fraction of time. And his teacher encourages him to continue studying and don’t think leaving it in any way.

Ichmad listens to his teacher patiently and gives his advice a due importance. He studies at night when he finds himself free from his tedious and bone cracking work during the day.

He has worked for some time at a slaughter house also. What is the condition of that house and how it impacts the whole village has been suitably summarized in these few lines: “The chimney from the slaughterhouse and accompanying factories spread thick, oily, black smoke throughout our village. Because we had no sewage system, the filth, grease and chemicals from the slaughterhouse soaked into our soil. Bubbles of carbonic acid rose to the surface, while grease and filth caked the land. Every now and then, the land would catch fire and the whole village would run and put it out with buckets of well-water.” (P- 103) This situation is almost with the entire occupied territory of Palestine. They live like a second class citizen and most of the time, even worse than a slave, on their own legitimate land which the aggressor Israelis had occupied it forcefully.

Ichmad luckily gets the chance to appear in a competitive exam and he succeeds at it. And he is offered a scholarship at a Hebrew university. He is the first Palestinian boy who goes there to study. He meets there adverse situations and most of the time, his friends at college spew scorns and humiliation on him but he bears all with patience and determination for he knew that only this could make him success in his life.

He remembers his father’s word always in every adverse situation. He is always a pillar of strength and force for him.

“You cannot go back and make a new start, but you can start now and make a new end.” (P115) He believes that he will be able to give a good start to his life. And finally he succeeds and he

mohammad Aleem is a prolific writer.

Known for oustanding novels and plays, he is the winner of various national level awards like Sanskriti Award in Literature and Urdu Academy Delhi Award.

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graduates from that university and after his post graduation he gets a scholarship to do his doctorate from an American university where he goes with his fellow science Professor, Menachem Sharon. He was the person who once despised and hated him abhorrently but later on when he realizes his talents he not becomes a close associate of him but helps him in his realizing his goal.

In America, they succeed and in the end they reach to the world’s most coveted award, the Nobel Prize.

The story of America is somehow with fewer struggles and passes it like a mild breeze. In those happy moments, a fragrant breeze comes as Nora in the life of Ichmad. She is a Jew. Her parents are quite wealthy and influential people.

They work for the greater cause of the welfare of the society but when it comes to think about the marriage of their only daughter to a Palestinian boy, it becomes hard for them to swallow.

Ichmad and Nora marry and start living together happily but its end comes soon in the form of a devastating incident at his village home. Nora becomes victim of Israeli aggression there. When the bulldozer of Israeli army comes to raze the Ichmad’s house on the pretext

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of punishing them for joining the militant group of his younger brother, Abbas, Nora comes in the way of that barbaric aggression and she gets crushed. It is a cold blooded murder and even her influential parents don’t succeed in bringing out the killers at the table of justice. Such is the highhandedness of Israeli army and its political heads.

The novel has some other characters also which succeed in ingraining their presence in the mind of the reader quite successfully like Manchem’s second wife, Justice, Ichmad’s second wife, Yasmin and his mother. They are fine ladies and seem always doing their thing quite sensibly. Ichmad’s mother is an illiterate lady so she has her own understanding of seeing and doing the things but the other two ladies are quite intelligent and they have some humble corners in their hearts for oppressed one.

Second most important character in the novel is the younger brother of Ichmad, Abbas who turns a militant but he doesn’t succeed in reaping any substantial results from it. It shows that you can’t get anything applying violence but peace and higher education will take you there where you want to reach. But

the enemy forces know it well that how to keep these kinds of people like their slaves. They, in a much planned way, deprive them from a good education. It reminds me the days of the British in India and even at the present scenario here, only a few chosen one goes to good schools and universities and a vast number gets unattended. The worst condition is of Muslims and other such class who are forced to live on the fringes of the society.

But this novel not only narrates the gloom and sadness of one’s life but good and rosy side also. It also looks a little bit idealistic approach and an exceptional case in itself.

What if Ichmad was not an intelligent boy and good at his studies as he used to be in the story, then what would have happened? Is there any place in the society for deprived one and for those who are not so lucky to get good talents in their lives? Then who will take care of those boys and girls?

I will conclude this article on these lines penned by the famous social activist of India, Harsh Mander. He writes on the editorial page of the Hindustan Times on 14th January, 20013.

“In The Idea of Justice, Amartya Sen asks why the pursuit of justice is universal in human societies and concludes that this is primarily because human empathy, as well as the longing for freedom and reason, is essential to human nature. Empathy involves feeling the pain and humiliation of others as though it was one’s own.” (The Hindustan Times) The whole Israeli establishment should understand that if they want to succeed in establishing the lasting peace with his Arab neighbors they would have to come out to them with a big heart and an open mind. Violence would take them nowhere. They can’t rule on Palestinians like this forever. n

tECHnologY

Amazing HTC

Butterfly Camera The HTC Butterfly features an 8 MP primary camera for clicking pictures in great resolution. Supporting features like LED flash, auto focus, face detection and smile detection etc. enhance the image quality.

HD video recording is possible in this device at 1080p. A 2 MP secondary camera is also loaded in the Butterfly smartphone for 3G video calls.

OS & Processor The HTC Butterfly will feature Android 4.1 (Jelly Bean) OS, which can be upgraded to the next Android 4.2 version. The 1.5 GHz quad core processor with Snapdragon S4 chipset ensures fast performance. The 2 GB RAM loaded in this HTC handset oers great computing experience for the users.

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Other Features Being a smartphone, the HTC Butterfly is also loaded with a range of other high end features. Media players are available for accessing multimedia files in dierent formats. Other features of this handset include A-GPS, SNS apps, TV-Out and document viewer etc.

Hardware It comes with a 5-inch display screen, which is common in many latest model smartphones. The display screen of the HTC Butterfly has a resolution of 1920 x 1080 pixels. The super LCD3 touchscreen display is protected by Corning Gorilla Glass 2. The device weighs about 140 grams and it is 9.1 mm thick. A 2020 battery is loaded in this smartphone and its talk time is not disclosed b y the brand.

Memory & Connectivity The HTC Butterfly comes with 16 GB internal memory, of which 11 GB is accessible for users. Its external memory can be increased up to 32 GB through a microSD memory card.

Internet connection can be accessed through dierent platforms including GRPS, EDGE, 3G, 4G (on select locations) and Wi-Fi. File transfer features loaded in this HTC smartphone include Bluetooth, NFC and micro USB port etc.

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DESk nEwS Dr. Kusum Ansal Honoured with ‘Women of Substance Award’

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r.(mrs.)Kusum Ansal was felicitated with a prestigious title ‘Women of Substance’ at Kamani Auditorium. Dr Ansal was recognized for her outstanding contribution in the field of Indian Literature.

She was conferred with this celebrated title for her exceptional work in books like ‘Beyond Silence’ and ‘Widows of Vrindavan’.

The award show was held under the aegis of Art Karat Jewellery which celebrated its Silver Jubilee. This honour was given by the founder member of Art Karat Jewellery - ms. Asha Kamal modi.

Besides Dr Ansal, a brigade of other women achievers were also felicitated at this celebrated award function held at kamani Auditorium yesterday. The recipients include ms. maneka Gandhi, ms. ritu Kumar, ms. Shahnaz Husain, ms.

Sushma Seth and others.

This cultural evening also saw a dazzling dance performance by yesterday year’s superstar Dr. Vyjayantimala Bali. Dr. Bali’s dance performance left the audience spellbound and was the perfect amalgamation of dance and soul.n

Symphony Gets ICAI Award

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ymphony Limited, the world leader in air cooler manufacturing and marketing, has yet another time shown their transparency and accuracy in de-

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claring financial ans non-financial information of the company by winning the ICAI award for excellence in financial reporting for the second consecutive years. recently in mumbai, Symphony was given this prestigious award for its annual report for 2010-11. The company had won the same award for its 2009-10 annual report too.

Symphony won the Institute of Chartered Accountants of India (ICAI) for excellence in financial reporting in category of manufacturing sector (turnover up to rs 500 crore). The award has been conferred in recognition of the preparation of Annual report and Financial Statements. Symphony excelled in quality of financial and non-financial information, presentation and disclosures. n

Cosmic Group Unveils City

C

osmic Group, one of the leading real estate groups in India, has launched its most premium and luxurious collection of ultra modern residential homes ‘City of romance’ at a gala evening. Gazal maestros Ghu-

lam Ali Saheb, Nida Fazli, Bhupinder and mitali added extra glamour in the evening of valentine with their glittering live performance. The project was unveiled by mr. Sushant mutreja, mDCosmic Group in presence of all leading person of the organization. more than 500 hundered people witnessed the gala evening and the launch at Siri Fort auditorium.

The project is strategically located at an approximate altitude of 4,500 ft, 25 Km away from rishikesh on the Tegri- Gangotri NH- 94 and just 2 km from Anandas. revolutionizing the concept of ultra modern living, the group is offering Swiss Elegant Luxury Villas, Premium Swiss Cottages, Presidential Suites and luxury studios at City of romance. World class amenities introduced by the group at the ‘City of romance’ offers nothing less than a personal heaven for you on earth.

Pamper yourself in spa, n

IICE Vodka Brought to India

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race yourself this season for the exhilarating IICE vodka brought to the Indian market by Jagatjit Industries Limited. IICE is 100% grain based using the most select grains, which lends to its great clean and refreshing taste.

The undisputed flavour of authentic russian vodka is encapsulated in IICE vodka and undivided attention is given to quality and purity. Using the finest quality grain and through triple filtration, IICE Vodka guarantees an exceptional product. To ensure purity, the spirit is triple distilled through a unique platinum distillation plant specially imported from russia. As part of the distillation process, the spirit passes through state-of-the-art

carbon, silver and platinum filter cartridges that ensure an end product of unparalleled purity and unmatched taste. The end result is one of the smoothest vodkas with a sparkling radiance. n

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DESk nEwS Delhi-NCr Gets WTC

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elhi NCr gets itsfirst World Trade Center (WTC) at Spire Edgemanesar, an integrated 1.6 million sq.ft mixed use IT/ITeS development. This is result of a rigorous assessment by World Trade Centers Association (WTCA), New York.

The distinction makes Spire Edge (part of the Spire World group) not only North India’s first operational World Trade Center (WTC), but also a member of an elite Global Business Network that includes more than 330 WTCs in 100 countries.

The corporate world will now recogniseWTC manesar as a Business Address of International Stature, bringing to the Local & Global Business Community the same standards of facilities & services similar to any other International WTC. Some of the well-known International World Trade Centers(WTCs) are in New

York, London, Sydney, Dubai, Chicago, Abu-Dhabi, Amsterdam, Singapore, Tokyo and other locations. In India, World Trade Center(WTC) is operational in mumbai and Bangalore. n

GACL Honoured for CSr

G

ACL was honoured for ‘Best Corporate Social responsibility Practices’ during the BSE(Bombay Stock Exchange) presents 7th Social and Corporate Gover-

nance Awards celebration on World CSr Day at mumbai. The ceremony was held on 18th February, 2013 at Taj Lands End, mumbai. On behalf of GACL mr. Y K Shishode, Public relations Officer presented various CSr initiatives and received the coveted honour from Dr. Alok Bhardwaj, Executive Vice President, Canon India.

GACL has always worked to strengthen the society. Apart from various CSr initiatives, as a responsible corporation, during the Vibrant Gujarat Summit, 2013, GACL signed mOUs with Education Department of Government of Gujarat for modernization of 5 schools and with the Health Department, Government of Gujarat for establishment of 5 medical Diagnostic centers. n

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Gulshan Homz’ CSr Initiative

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eeping in mind the importance of women in our life, Gulshan Homz in collaboration with WOW India, organized a free health check-up camp for women at their luxury residential apartments in Noida, i.e. Homes 121,

on 1st march 2013. The health check-up camp was organized for the women working at the site and also the wives and daughters of labourers working at the site. It was aimed at providing basic knowledge to women on how to take care of themselves.

Haemoglobin test was conducted for all ladies and medicines were provided to ladies who were anaemic. Dr. Sharda Jain (WOW India) and mrs. ritu Nagpal (Gulshan Homz) imparted basic knowledge to all women. Women labour were more enthusiastic and participated actively in the camp. Women made a commitment to themselves and to Gulshan Homz that from now onwards they will follow all the health tips given by Dr. Sharda Jain. This small event was organized in the continuation of a CSr initiative taken by Gulshan Homz. The same kind of health camp was organized at another site namely, n

Neemrana: A Promising Destination

N

eemrana, strategically located about 140 km from the national capital, right on the NH 8, is witnessing frenetic residential and commercial activities and is turning into a promising real estate destination at a very good pace. The region has been truly resurgent on the real estate front, neomodernized townships strength, residential complexes, IT Hubs and Corporate houses. Especially with the promotion of the region as an industrial hub, Delhi’s satellite town has seen substantial growth and rIICO has been aggressively involved in rapid development and major investment for the progress and exploration of the industrial growth here. Besides, being strong industrial, re-

tail and hospitality hub, Neemrana’s real estate is truly propelled by multiple drivers. n

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DESk nEwS rajput Group’s Alstonia Apt.

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ajput Group, an ISO certified 9001:2008 real estate company operating from Noida, announced the acquisition of ‘Alstonia Apartment’, a residential project located in Plot No- 10, Sector Pi-2, Greater Noida, The rajput Group has re-launched it under the banner of Shri rajneegandha Greens. Now rajput Group will be taking care of further construction, maintenance, marketing, leasing and all legal aspects of the entire project. Both parties have agreed not to disclose the amount involved in the acquisition under their company policy. mr. Suneel K rajput, mD of the rajput group will develop the project under his expertise to ensure uninterrupted construction to provide possession on time.

The project has already been approved

by GNIDA and the construction is in full swing. This site (at Sector pi-2) is situated

at a prime location from the ambience, openness and connectivity point of view. It has two open sides. This will enable rajput Group to provide two independent Entry and Exit Gates. The two sides have 130 meter wide roads with divider. It also has a service lane. n

USHA Hunter Fans

H

unter -- the original American fan brought to India by USHA – is known globally for its style, quality and durability. The exciting range of Usha Hunter Fans can give your home

a splendid look effortlessly.

The most unique offering of these fans is the reversible plywood blades available in different shades. Blades are available in dark wood, maple, graphite, white, beech, cherry, rosewood, oak and walnut.

USHA Hunter fans also spell excellence when it comes to their utility value. They rotate both clockwise and anti-clockwise to move air efficiently in summer as well as winter, thereby saving air-conditioning costs. They are engineered with precisionground ball bearings, multiple capacitors for speed controls and patented sound dampeners for a noise free operation.

Some of its other features include in-built halogen light, wobble free operation, rich scratch resistant finish blades etc. n

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Falcon Ties with Teelock

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aking a step ahead in creating an investment- friendly project with the inflow of the global corporate community, Falcon realty Services Pvt. Ltd, India’s leading real estate company, has tied-up with Teelock Associates

Ltd. mauritius, a renowned architecture service provider having presence across the world.

Teelock Associates Ltd mauritius through their dedicated team members in monitoring the quality of construction and design have been contributing significantly and successfully reiterating the essence of world class architecture. The association of Falcon with the Teelock Associates Ltd. mauritius is a step further towards the making of world class and finest living style at an affordable price.

Speaking on the occasion mr. Bhim Yadav, Chairman and mD, Falcon realty Services Pvt. Ltd. said, “Global Eco City is an excellent investment opportunity for Indian citizens to invest in residential property catering to style conscious global community that does not compromise on basic lifestyle requirements. n

Prateek Ventures Into retail

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rateek Group, a major realty player based in Noida recently ventured into retail Sector with its maiden store at its project, Prateek Fedora, sector-61, Noida by the name 'Quick Pick Hyper Store'. The maiden store will contain all confectionery items like milk, rice, sugar, breads and every other item of daily needs. The 'Quick Pick' store will be on the lines of any other big hyper store we have in India or abroad.

Prateek group, is a well known name in the Indian realty Sector with acclaimed residential projects like Prateek Fedora, sector-61, Noida, Prateek Laurel, sector120, Noida, Prateek Wisteria, sector-77, Noida, Prateek Stylome, sector-45, Noida

and the recently launched ultra-luxurious project Prateek Edifice in sector- 107, Noida. The company in last couple of years has made a brand name of itself by developing state of art projects in the NCr region. n

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Price `100, Year 2, Issue March 2013