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Thursday, March 29, 2018

Piramal Realty Launches Piramal Mahalaxmi, its Flagship Project in South Mumbai

Mumbai, March 28, 2018: Piramal Realty (PRL), the real estate development arm of Piramal Group, has announced the launch of Piramal Mahalaxmi, its flagship project in South Mumbai.

The development takes on the name of the locality, Mahalaxmi, which is one of Mumbai’s most desirable and sought-after addresses. The quintessential offering of this project is the coveted Lifetime Views of the 225 acre Mahalaxmi Racecourse, uninterrupted views of the Arabian Sea on the horizon, Willingdon Golf Course and the expansive Mumbai Harbour. With over 2 million square feet of development, this project is set to be one of the largest premium residential developments in South Mumbai. Piramal Realty will invest INR 2600 crores in this marquee development.

Anand Piramal, Executive Director, Piramal Group and Founder, Piramal Realty, said, “Piramal Mahalaxmi is the perfect fusion of rich culture and a cosmopolitan heart. Through this development, we intend to continue setting new benchmarks in the real estate industry. Much akin to world class metropolitan cities, with the likes of New York’s Manhattan, London, or Hong Kong, Piramal Mahalaxmi offers units that are designed based on market demand. Offering Lifetime Views of the Racecourse and the Sea, this will be South Mumbai’s most prestigious residential project.”

Naaman Atallah, CEO, Piramal Realty, said, “We are delighted to launch our flagship development in the vibrant real estate landscape of Mahalaxmi. Piramal Mahalaxmi is built on our core foundations of quality and customer centricity. We aim to introduce innovative, world-class design & development at competitive prices.”

The newly launched 63 storeyed tower, with over 300 units, offers a range of world-class amenities, such as swimming pools with infinite views, podium garden, landscaped outdoor terraces, gym, sports hall and jogging & cycling tracks. The luxury development offers customers a slate of 2 & 3-Bed residences, with spectacular views, in Tower-1.

Piramal Realty has partnered with internationally acclaimed organizations, for the design and development of Piramal Mahalaxmi.

Principal Architects: Callison RTKL, USA
Associate Architect: Hafeez Contractor, Mumbai, India
Interior Design: One of a Kind, Dubai, UAE
Vertical Transport Strategy - TAK Consulting, Mumbai, India
Lead Structural and MEP Consultants: WME, Dubai, UAE

Piramal Mahalaxmi- A Design Conceptualized around ‘Framed Views’
‘Framed Views’ is an emerging theme throughout the development of Piramal Mahalaxmi. Inspired by the surroundings and regality of the coveted address, the floor-to-ceiling windows frame the picturesque views while filling the apartment with an abundance of sunlight.

Earlier this year, Piramal Realty had announced a Development Agreement with Omkar Realtors for developing this 2 million square feet marquee project in Mahalaxmi. As per the agreement, Piramal Realty will lead the design, development, construction, sales & marketing for Piramal Mahalaxmi.

Wednesday, March 14, 2018

ATS New Launch: Noida Extension - Call +91-99589-27543 - ATS HomeKraft Happy Trails, Sector 10, Greater Noida West

Reputed Delhi-NCR developer ATS Infrastructure will soon launch a new affordable group housing project ATS Happy Trails in Sector 10, Noida Extension, Greater Noida West. The project will be executed by the developer's new affordable housing subsidiary HomeKraft Infra Pvt Ltd.


For details & assistance

Call +91-99589-27543


Quick Overview: ATS Happy Trails

  • Address:  Plot No. GH - 02A, Sector 10, Greater Noida, Distt Gautam Budh Nagar, Uttar Pradesh
  • Plot Size:  8.592 Acres
  • Number of Units: 1239
  • Number of Towers: 12
  • Tower Height: 26/27 Floors
  • Open Area: 78%

The proposed project is located bang on the 130-metre Noida-Greater Noida Link Road. With its strategic location, it have green belts and wide roads on two sides. The proposed metro station will also be close by, along with the Knowledge Park V commercial area.


The ATS Happy Trail group housing project project measures on a plot area of 34,769 sq. m. ( 8.592 acres) with built-up area of 2,12,448.096 sq. m. Development of the landscaped area has been planned over an area of 13,62 3.475 sq. m.

According to the information available from the public data uploaded on government department websites, M/s Shridhara Infratech Pvt. Ltd. (which is the land-owner company for the plot) is planning to develop the Group Housing Project “Happy Trails ” located at Plot No. GH - 02A, Sector 10, Greater Noida, Distt Gautam Buddh Nagar, Uttar Pradesh.

The Home Kraft Happy Trails Noida Extension will consist of 12 towers, community and commercial building and consists of 1239 dwelling units. The Group Housing Project is designed to be well equipped with the facilities modern ameniti es such as regulated entry/exit, energy saving fixtures , sufficient aesthetic green cover , well  planned  internal  road  infrastructure,  sewage  treatment  plant  and rain  water  harvesting measures .

ATS Happy Trails: Location Map

The site is located at Plot No. GH - 02A, Sector 10, Greater Noida, Gautam Budh Nagar, Uttar Pradesh. The location is already under development with several residential projects in different stages of construction. A residential project is already inhabited in the vicinity.

The nearest railway station is Maripat Railway Station which is approx. 3 km in NE direction while Indira Gandhi International Airport is approx. 37 km (W) from the project site.

Connectivity of Happy Trails, Noida Extension
National Highway-91; approx. 4.4 km (NE) Maripat Railway Station;approx. 2.7 km (NE) Noida Greater Noida Link road; approx. 0.2 km (W) National Highway-24;approx. 7.5 km (WNW)

Educational Institutions Near Happy Trails, Noida Extension
N M Public School, Badalpur;approx. 1.4 km (E) NIILM - Business School; approx. 2.0 km (SW) Government Ayurvedic Hospital; approx. 2.4 km (WSW) Chaudhary Hospital; approx. 7.5 km (WSW)

For details, please visit

Friday, December 1, 2017

JLL India releases retail report at CII National Retail Summit 2017, New Delhi

Real estate brokerarge company JLL India has released its retail real estate report at CII National Retail Summit 2017 in New Delhi. The report highlights the Indian retail sector’s growth potential in Tier 2 and 3 cities.

In the report, JLL analyzes how mall withdrawals in Tier 1 cities have kept the vacancy levels stable. It has identified top 20 cities that will drive retail growth basis total retail stock, upcoming supply, retailer presence, retailer expansion plans and investments.

Among the small towns and cities, Jaipur ranks 1st in total current retail stock, while Lucknow ranks 1st in upcoming retail supply.

New Delhi, 1st December 2017: Leading international real estate consultants JLL India today released its latest retail report ‘Fuelling the Retail Revolution - The Paradigm of Emerging Cities’ in association with the CII National Retail Summit, 2017. In Delhi-NCR and Noida, commercial real estate projects such as Alphathum by Bhutani Group are already underway. Plenty of new projects are coming up at different locations. Despite the under-construction stock, a lot of areas of Delhi-NCR still needs more supply of office spaces and commercial real estate.

Highlighting the withdrawal of malls across Tier 1 cities, the report identifies 20 cities including tier 2 cities such as Lucknow, Jaipur, Chandigarh, Kochi, Patna, Bhubaneshwar, Indore and Nagpur among the leading cities, as the next retail destinations in the country. The study bases its findings on key parameters such as total retail stock, upcoming supply, retailer presence, retailer expansion plans and investments. It gives details on various formats of developments that Tier 2 and 3 cities are currently witnessing. According to the report, the retail sector in Tier 2 and 3 cities has witnessed a much higher investment of USD 6,192 million between 2006 and 2017 as against USD 1,295 million that came to Tier I metro cities during the same period. Factors like lack of available space in retail malls in metro cities, increasing lease rentals in metro malls, and high land prices in Tier 1 cities have made it difficult for retailers to own real estate in these cities. These factors, the report adds, have become a deterrent for expansion and growth of malls in big cities.

Making a strong case for Tier 2 cities, the report says that factors like international airport connectivity across cities such as Lucknow, Kochi, Bhubaneswar, Nagpur to name a few, rising levels of disposable income have prompted various global and local brands to plan their expansion plans in these cities.

Pankaj Renjhen, Managing Director – Retail, JLL India said, “The retail sector is among the top three employers in the country and its growth will drive the economy of our future cities. Emerging destinations like Lucknow, Jaipur, Chandigarh, Kochi, Indore, Nagpur and Bhubaneshwar are going to be the next big retail hubs. It is for this reason, retailers and private equity firms have started taking an increased interest in Indian retail sector through investments in high-end retail malls in Tier 2 and 3 cities. The report released today presents an overview of this expansion and provides an insight into various trends across the retail development market.”

Chandrajit Banerjee, Director General, CII, “India’s economic potential lies in the growth of smaller cities that have been witnessing transformation on all fronts – urban housing, infrastructure, offices and retail real estate. Being a key component of this development, retail has the ability to drive future growth and add value to the overall infrastructure of these cities. While there is an opportunity in Tier 2 and 3 cities for this sector, a strong focus is required to build the necessary infrastructure to support the growth. Through our National Retail Summit 2017 and the release of an insightful report, we aim to identify the challenges that may impede the growth and leverage the available opportunities.”

Wednesday, February 8, 2017

Affordable 2BHK in Noida Extension for Just Rs 18.95 Lakh

Are you looking for an apartment in Noida Extension in the affordable price range? Want to buy your dream home?

Sikka Group has launched 2BHK apartments  in Sector 10, Noida Extension. Part of a 5.5 acre project, the flats have been designed to have a compact layout with reduced wastage area and better tower layout to make flats cheaper and affordable.

These flats are being developed in one tower in Sikka Kirat Greens. The affordable 2BHK is being launched as Sikka Kanak Greens, Noida Extension.

The compact layout of the apartment allows home buyers to get the benefit of Pradhan Mantri Awas Yojana. You can get a subsidy up to Rs 2.2 lakh on your home loan and reduce your property cost significantly. For the benefit of the housing subsidy scheme, your household income should be not more than Rs 50,000 per month and your family should not own any pucca house.

For almost three decades Sikka Group has completed a series of real estate project in and around the NCR region of India. Today the total built up area of their ongoing projects exceeds 6 million sq.ft. with plans to build around 3 million sq. ft. area in the current financial year, about 15 million sq. ft. in the coming 3 years, dwelling nearly a 100000 families. Along with the prominent presence in the real estate, Sikka is a distinguished business entity in the industry of automobiles, posting an impressive turnover of INR 5 billion.

Friday, October 7, 2016

Godrej Golf Links Greater Noida: Godrej Properties New Project in Greater Noida

After maintaining the suspense for a while, Godrej Properties has announced the name of its new launch project in Greater Noida: Godrej Golf Links Greater Noida.

Godrej Golf Links, Greater Noida

The new project, which is to be developed on a 100-Acre land parcel in joint venture with AR Landcraft, has been named as Godrej Golf Links as the project is designed as a golf-centric property in a recreational zone plot.

The land has been allocated and earmarked by the Greater Noida authority for recreational green area. This means the land will have at least 70% open area dedicated towards recreational greens such as golf course. On the remaining 30%, Godrej Properties will develop residential villas and apartments tastefully designed for a luxurious lifestyle of its residents.

Godrej Golf Links Greater Noida: Godrej Properties New Project in Greater Noida
For details, please call 09958927543

Tuesday, October 4, 2016

Godrej Atlas, Greater Noida: Luxury Villas by Godrej Properties in Greater Noida

Godrej Atlas, Greater Noida is the latest residential project by India's most trusted brand Godrej Group's real estate arm Godrej Properties.

Godrej Properties new launch in Greater Noida will be named Godrej Atlas.

Villas Configurations
Category (Sq. Yds.)
Per Unit Saleable AreaTicket Size ( Tentative)
2300-24001.25-1.35 Cr
1.50-1.60 Cr
2.55-2.65 Cr
3.45-3.55 Cr

Key Features of Godrej Atlas, Greater Noida

  • 100 acres Township Atlas in Greater Noida
  • 9 Hole Golf Course
  • 80% Green Panoramic Golf View
  • Metro connectivity under construction
  • Connected to Gr. Noida Expressway & Yamuna Expressway
  • Best transportation in Delhi NCR
  • Buddh International Circuit
  • Prime location in Greater Noida

Location Advantages of Godrej Atlas

  • Pari Chowk, Greater Noida – 1 Minute
  • Noida Expressway – 5 min.
  • Yamuna Expressway – 5 min.
  • Kalindi Kunj – 20 min.
  • Akshardham Temple: 25 min.
  • Sector 18 Noida: 20 min.

Godrej Atlas Villas is designed by renowned architects of the world, with a spectacular clubhouse that exudes opulence for the residential community. Godrej Atlas Villas Sector 27 Greater Noida bring to you unique living experience where independent living spaces are blended with community living. Every villa comes with private balcony and garden.

Thursday, July 21, 2016

Creating Wealth With Residential Real Estate Investment

By Anuj Puri, Chairman & Country Head, JLL India

Effective investment in residential property requires the chosen location to meet certain parameters. Fundamentally, the area should have good social infrastructure, availability of adequate public transport and sufficient economic activity to sustain development and growth. These parameters apply equally to investment in NA-certified land approved for residential development and flats in a residential project.

In order to mitigate most of the investment risk, one should restrict one’s residential property investment to Tier 1 and select Tier 2 cities. It is also most prudent to invest in properties where the price tag falls between Rs. 2500-5000/sq.ft., since such a price tag provides downside protection against any capital value erosion. Simply put, the cost of construction and minimum cost of land literally makes this price segment safe, and almost guarantees capital appreciation.

Further Guidelines:

·         The property cycle needs to be understood so as to identify the best entry point
·         Leasehold titles issued by the Government must be fathomed
·         The investor needs to have a clear comprehension of unearned increase or capital gain and the consequently higher stamp duty implication at the time of conveyance from the developer
·         The quality of the development is important, because depressed markets often result in poor design and construction quality
·         Availability of the project’s development plans and all statutory approvals is de rigueur. If approvals are not yet in place, the investor should monitor them closely during the investment cycle
·         The developer’s arrangement for all the finances for completion of the project must be verified
·         The title’s due diligence by a qualified and reputed legal firm is now a given. One can no longer rely solely on the due diligence of home loan firms, as they have targets just like developers
·         The size and dimensions of the plot and the apartment need to be understood; small plots or apartments may cost less, but they are also often difficult to resell
·         The location of the development may be important, but so is the location of the plot or apartment within the complex. Investors should avoid buying flats on the top floors of high-rise buildings, as these artificially add to the cost due to floor-rise concepts
·         The credibility and track record of the developer need to be researched, since even the best ones have failed to deliver under the current market conditions
·         The price band of the development should be lower than the last highest peak in 2008 (exceptions can and should be made for quality, delivery date and location)
·         The time of conveyance of land and delivery (possession) must be explicitly clear
·         The penalties in case of delay must be well understood; not everyone can fight legal battles.
·         The investor must clearly understand the delta between soft launch, launch and current price of the developer (the resale of existing ready projects may be actually cheaper)
·         The investor must understand the sale agreement along with the transfer charges in case he wishes to sell the apartment during construction or prior to registration. He should establish whether the agreement captures within the official cost all the amenities, parking, etc. that the developer promised at the time of sale, or whether these are mentioned separately
·         The investor should employ usable carpet area vis-à-vis chargeable area as the price benchmark vis-à-vis other projects

Finally, the investor should keep an eye on the market and sell the residential property at the right time in order to multiply wealth. If all the above precautions have been taken, the property should have appreciated at a consistent rate of 15% per annum for three years. It is important to remember that one can almost never sell at the peak, just as it is impossible to always catch the lowest price.

Best Cities For Residential Property Investment

Some of the markets that currently show the highest residential property investment potential:

·         North India: NCR, Lucknow, Chandigarh and Jaipur, Dehradun
·         East India:  Bhubaneswar, Kolkata and Guwahati, Ranchi
·         West India:  Ahmedabad, Mumbai, Pune and Nasik, Nagpur
·         South India: Hyderabad, Bangalore and Chennai, Coimbatore, Vijaywada

Within these cities lie the opportunities for a higher delta of capital value appreciation, depending on the demand and supply dynamics of their micro markets and also the quality of the development, reputation of the developer, strategic value of the location and timely completion of projects.

Thursday, July 14, 2016

10 Emerging Affordable Property Destinations In Bangalore

By  Anuj Puri, Chairman & Country Head, JLL India:

Even as sales velocity for mid-income and luxury housing in Bangalore fluctuates with macro-economic variations, the city’s affordable housing segment has been witnessing steady demand on the outskirts. Availability of large land parcels at lower price points and the rapid expansion of the city in all directions have encouraged real estate developments even in the outlying areas. Infrastructure developments such as the planned Metro Rail and Peripheral Ring Road also play a part in making these affordable emerging areas attractive and viable.

During the first half of 2016, two significant market dynamics have been observed in Bangalore’s real estate market – an increase in new commercial launches, and a rise in the net absorption of commercial spaces. While the absorption levels are currently somewhat sluggish in the residential sector, commercial real estate is witnessing increased momentum with developers completing some of their office projects ahead of the original timelines.

The influx of more global corporate occupiers, infrastructure deployment in the peripheral areas, rapidly improving connectivity and unleashing of large land parcels by the Government for commercial and industrial growth have all colluded in the rapid emergence of newer nodes in the peripheral districts of Bangalore. Land in these areas comes at a lower cost; this has attracted developers of affordable housing projects, which are in demand from the workforce employed in the numerous automotive, engineering and other industries located on the outskirts of Bangalore.

  • Locations beyond Electronics City such as Jigani, Attibele, Anekal and other localities towards the south of NICE Road are now gaining traction due to the relatively affordable property prices and a perennial demand rising from the Jigani Industrial belt and Bommasandra Industrial Area
  • Mysore Road in the south-west part of the city is a major manufacturing hub that provides significant impetus to demand for affordable projects in the nearby satellite town of Kengeri
  • Proximity to the Bengaluru-Chennai Industrial Corridor and interest from various Japanese multinationals has made Old Madras Road a preferred location for affordable property options.

Let us examine some of the other prominent areas that offer good options for affordable housing seekers and simultaneously offer good returns on investment over mid-to-long term.

1.     Kanakapura Road

Located towards the South of Bengaluru, Kanakapura Road benefits from excellent connectivity with the key city centres. Various infrastructure and transport facilities make Kanakapura Road a preferable suburb. The NICE Road (Bangalore-Mysore infrastructure corridor) connects Kanakapura to Bangalore, Mysore Road and Bannerghatta Road. The ongoing Peripheral Ring Road (PRR) that will connect all the major highways - Tumkur Road, Mysore Road, Old Madras Road and Hosur Road - is an added advantage for the region. Extension of the Metro line and widening of roads have also improved the real estate profile of this market, which is close to prominent educational institutions such as International Institute of Aerospace Engineering and Management (IIAEM), CREST (Centre for Research, Education, Sadhana and Training), hospitals, and leisure and entertainment hubs. Considering the development expected to happen here over the next few years, and the current property prices which are below Rs.4900/sq.ft., Kanakapura Road is certainly an area for both end users and investors to watch.

2.     Sarjapur Road

The diverse range of property prices here has made Sarjapur an attractive micro-market for all classes of buyers. This area has witnessed stable demand from middle-class buyers looking for 1 and 2-BHK flats, as well as from high-end buyers focused on villas and row houses. Its proximity to the large IT/ITeS campuses of Outer Ring Road (ORR), Whitefield and Electronics City has strengthened investor sentiment in this location. With property prices catering to a vast cross-section of home-buyers and the presence of good social and general infrastructure, with numerous schools and healthcare facilities in the vicinity, make the Sarjapur Road an interesting investment proposition. The property prices at Sarjapur Road range between Rs.4700-4850/sq.ft., with a quarterly appreciation to the tune of 4.7%.

3.     Nallurhalli

An upcoming location in Whitefield, Nallurhalli benefits from generous green cover as well as the presence of a lake. It is home to Sigma Tech Park, Forum Value Mall and ITPL and also enjoys good accessibility from Old Airport Road and Old Madras Road. This location is seeing a lot of villa and bungalow-type developments. With property prices saturating in Whitefield, Nallurhalli – which is situated close to major IT projects - offers relatively affordable residential property options for home buyers seeking to live close to Whitefield. Property prices here range between Rs. 4500-4700/sq.ft. with a quarterly appreciation to the tune of 2%.

4.     Kengeri

Kengeri is an established satellite township where property demand is driven by the industrial developments along Mysore Road. This location also caters to the affordable housing requirements of the IT developments that located on Mysore Road. Kengeri benefits from excellent connectivity with Mysore Road, NICE Road and the Outer Ring Road, and the western extension of Namma Metro from the Mysore Road terminal to Kengeri. With excellent connectivity, adequate social infrastructure and the presence of commercial and retail spaces, this area is transforming into a vibrant residential destination. Kengeri is currently a mid-to-affordable residential market with property prices averaging at Rs. 3815/sqft and witnessing a quarterly appreciation to the tune of 3.7% on the back of planned Metro connectivity that will drive increased residential demand in the future.

5.     Budigere

Budigere on Old Madras Road is an emerging residential destination where IT/ITeS influence from the neighbouring areas and rapid infrastructure development have resulted in considerable growth in a short time. Budigere also receives strong demand for residential units from the manufacturing industries present in the region. With the prices saturating in already developed neighbouring areas such as Whitefield and Brookefield, Budigere receives significant spill-over demand due to its relatively affordable prices. It has good social and general infrastructure in place, and many reputed developers are active here with a wide range of housing projects. The property prices here range between Rs. 4500-4700/sqft. with the last quarter bringing a surge in property values by 2-3%, depending on the project and amenities offered.

6.     Magadi Road

One of the main factors that work for Magadi Road in the western part of Bangalore is that it is easily accessible from the centre of the city. As most of the development in Bangalore is focused towards the east and south of the city, the western corridor is still relatively green and serene. Also, good connectivity through Nice Road, Outer Ring Road and the Purple Line of Namma Metro give Magadi Road easy accessibility to other parts of the city. This has led to many leading ddevelopers launching mid to high end segment apartment project along Magadi Road. Currently, this micro-market has a mixed-bag of residential project offerings catering to a fairly wide spectrum of property buyers. As of now, these pprojects are priced in the range of Rs 8000-12000/sq. ft. for high-end units and Rs 3300-5000/sq. ft. for mid-end projects, so there is still good potential for homebuyers looking at relatively lower ticket sizes.

7.     Hosur Road

Hosur Road in South Bangalore covers locations such as Begur, Kudlu Gate, Singasandra and Electronic City. Locations along Hosur Road close to Electronic City and Begur Road cater to affordable to mid segment housing, with prices which are currently less than Rs. 4500/sq.ft. Many reputed developers are already active in this sub-market – a fact which has worked well from an overall profiling perspective. Prices in both these locations have appreciated by about 5-10% in the last one year.

8.     Yelahanka & Doddaballapur Road

Yelahanka was traditionally a suburban satellite town of Bangalore, where development was largely driven by the manufacturing sector until the Kempegowda International Airport became operational. The development of the airport opened the floodgates for office and mixed-use developments along Highway NH-7 connecting Yelahanka and the airport. The availability of generous large land parcels for large projects and good rail and road connectivity with the core city have also been driving investment sentiment at Yelahanka. Apartment projects are currently priced between Rs. 4000-5500/sq.ft. in this locality, which also has quite a few plotted developments as alternative options for buyers and investors. As this location is in its initial stages of development, it has witnessed marginal appreciation in property prices over last one year. However, as the SEZ and mixed use developments along the NH-7 start operations in next one year, this location is likely to see a lot more demand and development action – with consummate appreciation.

9.     Horamavu

Horamavu in the north-east part of Bangalore is easily accessible from the airport through the Outer Ring Road. It is located close to key residential locations such as KR Puram and Banaswadi, and is developing into a fully-loaded residential destination. Real estate development in Whitefield and along the Outer Ring Road has boosted faster development in this location, which currently caters to the residential requirements of employees from the office projects in the northern part of Whitefield. Some of Bangalore’s leading local developers and a couple of national players are now active with projects in Horamavu. It is still primarily a mid-segment residential destination, with capital values ranging between Rs. 3000-4800/sq.ft. With the increasing focus of infrastructure development in the north of Bangalore, Horamavu will see a lot of fresh residential demand in the near future.

10.  Mysore Road

The Mysore Road sub-market had a slow start in terms of real estate activity, as there were no strong economic drivers for the area. Also, a major portion of this sub-market is still dense with old developments built on small parcels of land. The development Global Tech Village an IT SEZ by Tanglin Developers along Mysore Road led to the launch of many residential apartments in this location, which is now seeing added traction on account of its proximity to various educational institutions and industrial developments, and good connectivity from ORR and NICE Road.

The residential sector on Mysore Road is mostly dominated by low and mid-end apartment projects, with the high-end residential market still at a very nascent stage. Mysore Road currently has around 5,500 units of marketable residential stock from different developments, and capital values range from Rs. 3,000–4,000/sq.ft. The typical buyers for homes in this area are employed in the government services, small-scale industries and to some extent in the IT/ITeS sector.

The above list is by no means exhaustive - as the city expands, more such affordable corridors will be developed. Though Bangalore is on all counts a prosperous city with a lot of demand for high-end housing, no property market in the country can hold its own solely on the back of HNI housing. Among many other things, Bangalore is a leading destination for back-office and other support areas of the IT/ITeS and other services sectors. Affordable housing will therefore remain the backbone that supports the real estate market of this thriving city.

Sunday, June 26, 2016

6 Reasons Why Kochi Will Be India’s Next Real Estate Hotspot

by A. Shankar, National Director & Head of Operations – Strategic Consulting, JLL India

City Expects Investments Of INR 2,076 Crore; Sustainable Real Estate Growth Assured

Kochi hits a six to become the next highly preferred real estate destination in India. All potential drivers such as IT development for employment generation, Metro rail for intra-city connectivity, the Smart City tag for basic infrastructure, port-based development for industry and commercial growth, airport terminal for international connectivity and foreign investment and tourism for the hospitality industry are emphasized in Kochi.

This will ultimately boosts demand for housing and make it one of the next highly-preferred real estate destinations in India. The 6 reasons why this will happen shortly:

1)             Inclusion in the top 20 Smart Cities:

Recently, the Ministry of Urban Development, Government of India identified the top 20 candidates under the Smart City mission initiative through a competitive selection process. Kochi ranks 5th and expects an investment of INR 2,076 crore for pan city solutions and area-based development. E-Governance and water management are focus areas as part of pan city solutions which will help Kochi to access improved and planned infrastructure with assured water and power supply, sanitation and solid waste management, efficient urban mobility and public transport, IT connectivity, etc.

Kochi-Mattancherry-Central City, which is selected as the area for development, will witness intense development in the coming years. Numerous developers are trying to acquire land for real estate development in and around this area. The ‘Smart City’ tag is expected to boost prices exponentially.

2)             The first Indian Tier-II city to a propose Metro Rail:

Metro rail connectivity in Kochi is under various stages of construction and is expected to be operational by 2017. In Phase I, the Kochi Metro Rail Corporation has proposed an elevated route spanning approximately 25.25 km from Aluva to Pettah. Once completed, the metro will improve connectivity and reduce travel time from Aluva to the key micro-markets of Kochi. Real estate will be greatly influenced once the metro becomes operational. Areas like Companypady, Ambattukavu, Kalamassery, Edapally, Palarivatom, Ernakulam South, Elamkulam, Vytilla, Panampilly Nagar and Kadavanthara will be the main beneficiaries and some of them have already started to witness increased development.

The future expansion of the metro will also benefit areas like Menaka, Kakkanad and West Kochi. Metro rail stations exert influence up to a buffer of 1 km radius, with maximum influence in the areas within a 500 m radius. Land prices along metro rail corridors have increased by 10%-15% after announcement, and are expected to increase further after operations.

3)             New international airport terminal to cater growing demand:

Cochin International Airport Ltd (CIAL) is constructing a INR 1,100 crore international terminal with a built-up space of 15,00,000 sq ft. It is designed to handle 4,000 passengers per hour and will be commissioned by 2016. Once operational, the new international terminal will have a very positive economic impact and uplift the real estate market in the whole region. The catchment will witness development of new retail and commercial spaces along with a good supply of residential and hospitality developments to cater to the increasing demand.

The increased international connectivity will also pave the way for global companies and cargo-based businesses to deploy and expand operations nearby. The completion of the international terminal, along an operational metro, will give significantly boost the city’s real estate market – and the catchment itself is expected to witness 15-20% rise in property prices.

4)             Venue for one of two submarine cable landings in India:

Kochi is one of the venues for 'SEA-ME-WE-3’ (South-East Asia - Middle East - Western Europe 3) and 'SAFE' submarine cable landings, and is the second Indian location along with Mumbai to have two submarine cable landings. This fact highlights Kochi as an important destination for IT enabled services. Presently, the Government of Kochi is keen on developing IT/ITeS, as the entire Kerala state is promoting this sector heavily.

The major thrust on IT/ITeS development will eventually boost real estate development in the city, as it creates demand for residential properties, Grade A office spaces and retail developments.

5)             Home to India’s first global hub terminal:

Kochi is among India’s leading cities for strong port infrastructure and has the largest (and India’s first) global hub terminal - the International Container Transshipment Terminal (ICTT) at Vallarpadam. This makes Kochi the premier port gateway to South India. Warehouses and other port-based industrial developments will see growth in these areas and lead to vastly increased port-related activities.

6)             Continued tourism growth:

Kochi is known for its high heritage value, and contributes significantly to Kerala’s tourism industry. It sees an annual tourism influx that equals about four times its population, of which 14% accounts for foreign tourists, and reflects an annual increase of about 6%. The city’s vision of transforming itself into a tourist hub paves the way for steadily increasing demand for the hospitality sector and its allied industries.

In short, Kochi - which was earlier struggling to recover from an oversupply scenario – will see a massive revival due to creation of demand from these initiatives. Sustainable growth in real estate prices is now assured in the city, and this has incited new interests from numerous real estate developers from all over India who are keen to launch residential, commercial and hospitality projects there.

Sunday, June 19, 2016

Sky Villas: Taking Luxury Living to New Heights

By Ashwinder Raj Singh, CEO – Residential Services, JLL India

The luxury segment in the Indian real estate sector is an ever-evolving one. Everything that money can buy is now being made available to buyers who want to live life king size. Sky villas are one of the latest developments on this front. The concept is not new, but borrowed from the more evolved western real estate markets. It has been around in the country for a few years now, and it has gained wide-spread acceptance in recent times.

What Is A Sky Villa?

Villas and penthouses have for long been marketed to HNI home buyers, but sky villas combine the benefits of both penthouses and villas - along with some additional unique features. Unlike a villa, which is basically a standalone bungalow or a penthouse which is just an apartment on the top-most floor of a high-rise, a sky villa is a humungous multi-level apartment which often covers 2-3 floors. It combines the luxuries of a sprawling bungalow with the advantages of secure living and integrated facilities in an apartment complex.

Though the focus in sky villas is on exclusivity and the individuality of the buyer, the services and amenities are shared by every member of the tower comprising sky villas - unlike a penthouse, where the luxury is limited to the residents of the penthouse.

Sky Villas - Exclusive Luxury At A Price

The amenities being offered by various developers who create sky villas involve private gardens, private plunge pools, sundecks, private elevators, home theatre lounges, mini gyms, master suites with walk-in closets, advanced electronic surveillance, concierge on call, etc.

The target clientele for sky villas is High Net-worth Individuals (HNIs). Since it is a relatively new and growing sector, there are no benchmark prices. Suffice it to say that sky villas cost upwards of Rs. 5 crore; in major metros like Mumbai and Delhi-NCR, they can command prices starting from Rs. 40 crore.

The Place Of Sky Villas In India’s Luxury Homes Market

The luxury home segment in most developed markets accounts for 7-8% of the total real estate, while in India its contribution is currently a mere 2%. However, it has been growing in double digits over the past couple of years, thanks to the rise in High Net-worth Individuals. Indian HNIs are slated to cross a headcount of 3.5 lakh by 2018-19 owing to growth in economy and an astonishing rise in income levels.

With more and more Indians getting global exposure to avant-garde lifestyles, the demand for options which replicate such living experiences in India is mounting. In the more evolved and mature western markets, the concept of sky villas is already quite popular - in Las Vegas, USA, there are sky villas which compete to be part of the top 10 most expensive homes in the world. With the same kind of luxury coming to Indian consumers, this niche luxury segment is attracting increasing investments from builders who have charted the course for its future demand.

It is by no means an easy category to develop, as it demands the right locations and right neighbours apart from world-class luxuries. Inevitably, they also need to tie up with international designer brands to add the final layer of exclusivity to their sky villa projects. However, builders who create such dwellings don’t have to work too hard to find buyers among the country's ultra-rich.