Download - Property & Wealth Mar 2013
newsdesk 15
hotspots 19 ‘Not In My Backyard’ -
Does NIMBYism Exist In Indian Real Estate? 28
Handling Mall Vacancies, How Revenue Share Works And Evaluating A Mall 32
Retrofitting And Repositioning Real Estate Assets 34
Budget Misses Opportunity For Growth, Says CREDAI 36
TRIF Kochi’s Tritvam 38
Whether they’re doing searches on Google or chatting away with friends on Facebook, people looking to buy, invest or sell in real estate, flock to the internet to gather as much information as possible. Reason enough for someone looking to sell property to be found easily on the web, as well as to try and establish authority with respect to services he has to offer.
15
08contents March 2013
04
propertywise
COVER STORY
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Real Estate Social Media & You
be a prosperity seeker 44
quotemagic 46
eyecatchers 47
Understanding RGESS 48
44prosperityseekplanetsavers 50
bookshelf 51
The Forbes Shahrukh-Salman Equation 52
Guard your Health
with Vaastu 54
softcorner 56
Publisher & Editor-in-ChiefJasmeet [email protected]
Editor Pankaj Sharma [email protected]
Feature Writers Satpal Kataria, K.Singh, Rupinder PD, Sheetal Singh
Art Director Rajesh Kumar
Graphics TeamGagan, Sanju
Advertisement & SalesDirector Marketing: Sandeep Kapoor (M) 9818510511, [email protected] Sales & Advt: Ajay Gupta(M) 9216841278
Sales & SubscriptionMr. Ajay Gupta(M) 9216841278
Photography Rohit Bhatia
Pre Press Team: NBC, GopalProduction Team: Upinder, Vikas, Vijay
Advisory BoardHarpreet Pooja & Associates Architects Rajiv Gupta & Associates Chartered Accountant Vikas Chatrath, Advocate
Printed & Published by Sh. Jasmeet Singh at Plot No. 437-A, Industrial Area Phase-2, Chandigarh.Owned by Sh. Jasmeet Singh,220, Sector 19-A, Chandigarh & Printed at Savitar Press, Plot No. 820, Ind. Area Ph-2, Chandigarh.
CONTRIBUTORS AND ASSOCIATES
contentsMarch 2013
05PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
editorial
about this issue
As per findings of a recently concluded joint study
of the National Association of Realtors ® (the largest
trade association in North America with over 1.2 million
members) and Google, 9 in 10 home buyers today rely
on the internet as one of their primary research sources,
and 52% turn to the web as their first step. Additionally,
approximately one-fifth of real estate searches happen on
mobile devices. Google real estate related searches on
mobile devices grew 120% year-over-year from 2011 to
2012.
Back home too, the real estate market is rapidly becoming
more and more technology driven. Social media sites like
Facebook and Twitter have become household names,
and draw a lot of real estate marketing action. Moreover,
social media sites have proved to be an ideal platform for
irate customers to get back – justifiably or otherwise – at
developers. There are instances of builders with delayed
projects being forced to either hire external agencies or
set up in-house online reputation management systems.
Certain companies also have a CSR initiative tab on
Facebook to publish different CSR stories. To name some
prominent real estate companies to have successfully
maintained a strong presence on various social media
sites; Tata Housing, Purvankara, Sobha Developers and
Prestige Group. Tata Housing in particular has 87,658
fans on Facebook and 634 followers on Twitter, last time
I checked.
There are bound to be a lot more developments on the
real estate – social media scene. For example, a leading
software company that offers a suite of real estate-related
applications on Facebook has rolled out a real estate
agent directory app. The free app allows Facebook users
to search for agents by location and expertise who have
added their profiles to the directory.
Virtual Realty World
Jasmeet Dhamija Editor-in-Chief
In our Cover Story this month, we take a look at how the
rise of social media and online marketing have forever
altered the process of buying and selling homes.
In an interesting write-up regarding handling of mall
vacancies, Mr Shubhranshu Pani, MD – Retail, Jones Lang
LaSalle India presents us with an industry insider’s view on
the subject. The current issue also contains another two
more write-ups by industry experts.
The names of Bollywood icons Shahrukh Khan and Salman
Khan shone right up there on the Forbes India Celebrity
100 List, released early this year. There was something
cute about how each of them took first place on list, when
evaluated on separate parameters. It made for a short
story on Property & Wealth!
Effective 1st Apr 2013, investors with a gross annual total
income of up to Rs 12 lakhs will be able to invest in the
Rajiv Gandhi Equity Savings Scheme. The equity tax
advantage savings scheme for first time equity investors in
India was announced in last year’s budget and launched
last month by finance minister P. Chidambaram.
Good health is the elixir of life and following certain
guidelines laid down by India’s ancient science Vaastu
Shastra can make that a reality.
Pankaj SharmaEditor
06 PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Cover Story
The key to use social media platforms effectively is to understand what drives them and it goes without saying that more often than not, an inconsistent or careless presence on the internet could only lead to waste of time and money
Real Estate Social Media & You
The 70-year old retired Army officer waited until his name
was called, and then followed the receptionist into the
office of the Facebook Addiction Counselor. “Please have
a seat, Major,” she said with a warm smile.
“Do you mind telling me how it all started?”
“Well, it’s entirely my grandson’s fault. Last Diwali, he set
up a Facebook account for me and then sent me my first
Facebook invitation.”
“And how did a veteran like you become a Facebook
addict?”
“It was alright in the beginning, but very soon, I found
myself on Facebook at least 15-20 times a day. For the
past few months, it’s usually the first thing I see when I
wake up and the last thing I see when I go to sleep.”
“What do you like most about Facebook?”
“Everything. But most of all, it sort of makes me feel
good. I just have five or six friends in the real world, but
on Facebook, I’m even friends with Kumara Mangalam.”
“Who’s he?”
“I don’t know, but he’s got 3,763 friends, so he must be
really famous.”
One can’t really blame our aging Ex-Army
friend. Just about everyone’s on Facebook
these days, or any other social media platform
of their choice. What we’re witnessing now is a
gigantic, virtual world of ‘friends’ or ‘connections’; serious,
casual and anywhere in-
between. As the virtual
world grows bigger with
each passing moment,
fed by more technological
marvels of connectivity
like smartphones, tabs
and GPS systems; social
media has emerged as an
inescapable medium of
business generation too.
If technology is the multi-
headed genie that serves
modern business, social
media is the genie’s face.
In the internet era, no business activity can afford to
miss out on joining the social media bandwagon and real
estate is no exception. In the good old days, people in
the property business could look forward to making some
useful contacts, get referrals and meet prospective clients
through routine events like their kids’ PTA meetings or
dinner with neighbours or friends. While conventional
practices may continue to prove useful for gaining new
clients, the fact of the matter is that people now are
becoming more and more social online than offline.
Whether they’re doing searches on Google or chatting
away with friends on Facebook, people looking to buy,
invest or sell in real estate, flock to the internet to gather
as much information as possible. Reason enough for
someone looking to sell property to be found easily on the
08 PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
web, as well as to try and establish authority with respect
to services he has to offer.
The Big ‘Social’ Four
Having increased its user base from 58 million to 1 billion
over the past five years, Facebook is clearly miles ahead
in the social media race. Over the same time, Twitter
has exploded from 1 million registered users to more than
500 million. Linkedin and Pinterest have 200 million and
40 million users respectively. According to an eBizMBA
ranking conducted in March this year, while Facebook,
Twitter and Linkedin remain the most popular sites, others
are gaining momentum. For example, Pinterest rose
from the No. 10 spot to No. 4 with 85.5 million estimated
monthly visitors.
Estimated Unique Monthly Visitors of Top 15 Busiest Social
Media Sites*
1. Facebook 750000000
2. Twitter 250000000
3. Linkedin 110000000
4. Pinterest 85500000
5. MySpace 70500000
6. Google Plus+ 65000000
7. DeviantArt 25500000
8. LiveJournal 20500000
9. Tagged 19500000
10. Orkut 17500000
*Source: eBizMBA
The key to use social media platforms effectively is to
understand what drives them and it goes without saying
09PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
that more often than not, an inconsistent or careless
presence on the internet could only lead to waste of time
and money. Remember, when it comes to using social
media, it’s more of pull than push. Let’s take a look at
the top four ranked sites as per this list and see how their
current formats hold good for real estate professionals.
One of the best ways to participate in social media
marketing nowadays is to create a Facebook business
page. Pages allow you gather people in one place so that
your stories appear in their newsfeed and also to measure
impact. An FB business page is like an agreement
between you and your clients. In return for interesting
and relevant information about what they are looking for,
they help build your community by spreading the word
about your company. The trick is to keep up a supply
of relevant news and content that your users would be
interested in.
Pages are an agreement between you and your clients.
You provide them interesting and relevant information
about what they’re looking for, and their presence and like
help build your community and spread the word about
your company. The trick is finding relevant news and
content your users would be interested in. Here’s how
you can find that content:
10 PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
1. If you have a page that talks about New Delhi real
estate, subscribe to Google Alerts that will provide you
with links to articles that match your keywords.
2. You don’t have to stick to just stories and articles
about real estate – include articles that deal with New
Delhi lifestyle in your search. What really matters is that
users should enjoy what they read.
3. You can make things interesting by finding a theme
for each day of the week that you’re online. For example,
post an article every Monday about what’s going on with
the latest round of construction in your area. Devote
Tuesdays to New Delhi lifestyle and on Wednesdays, run
a series on the current state of the real estate market. So
on and so forth.
In January this year, Facebook held a press conference to
announce the release of their new website feature called
Graph Search. This new feature allows you to view photos
of people from a specific location, find the new band your
friends are listening to, discover the best chinese food
restaurants in Chandigarh etc. By taking care of a few
things, you can prepare your Facebook page so that it
comes up more often in these searches. So, suppose
some months from now, someone is conveniently looking
up “3 BHK in Zirakpur” on his smartphone, then the FB
Graph Search should throw up a lot of information and
pictures that might help him in his search.
Every 24 hours, Facebook updates its engagement meter
on your page which will show you exactly how many
people have viewed your page, clicked on the links/
articles you posted and the change in percentage of
people who have viewed your page over the last week.
Each of these metrics can help you determine and track
what your users want to hear about from you.
Speaking at a 2010 technology conference, the head of
social media of CBRE Group Inc. (a Fortune 500 company
headquartered in Los Angeles and the world’s largest
commercial real estate services firm) made a confession
about Twitter. “People don’t understand it,” he said.
Today, CBRE leads the Twitter pack among major firms
with more than 26,000 followers.
Experienced hands will tell you that selling property is a
‘relation’ business and hardly a ‘transactional’ one. If you’re
using looking to increase the number of relationships you
have within a specific community, you need to use Twitter
to build real relationships with people. Send them a tweet
wishing them all the best when they announce they’ve
got a promotion or respond quickly when they want to
know how you liked the latest flick. Simple tactics like
these allow you to steadily build a relationship and ideally
a future client.
Twitter is really about and conversation relationship
building and that takes a lot of time and effort. And when
it comes to making good conversation, listening is a great
way to better understand what your customers want as also
to truly add value in the process. Sometimes, individuals
make the mistake of jumping into conversations without
assessing what the conversation is all about. And
sometimes, they just tweet random things and walk away.
Also bear in mind that if a real estate agent just keeps
tweeting about houses that he has listed, he isn’t going to
be hugely successful on Twitter.
Linkedin is more of a business network than the social
platforms of Facebook and Twitter, but it is a powerful
networking tool for the real estate professional. LinkedIn
for real estate will allow you to network globally, and that’s
how business is done in today’s Internet world. The
most important thing for success in building network
on LinkedIn is your profile. It is your resume, a billboard
and more. Once your LinkedIn real estate profile is
finished, it’s time to work on your connections, expanding
your network reach to more people who can bring you
resources and future business.
11PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Startling Social Media Statistics
1 Million websites have integrated with Facebook
23% of users check Facebook 5 times or more daily
56% of customer tweets are being ignored
34% of marketers have generated leads on Twitter
Google’s +1 button is used 5 million times a day
Over 5 million photos are uploaded to Instagram every
hour
80% of Pinterest users are female
12 PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Linkedin’s new company page format has real potential
for building your business. This new format is actually
a micro-site for your businesses within Linkedin. Also,
what sets Linkedin apart is that Linkedin a more educated
and affluent audience and given that the majority or
its revenues are derived from companies and brands,
Linkedin company pages are bound to grow in importance
and relevance for the network.
Despite its young age, Pinterest has grown to be the
fourth-largest Social Media Site on the planet as also the
fastest-growing site on the web today. It is growing at an
incredible pace, much faster than Twitter or Facebook
did in their infancy. The website is basically like a
virtual bulletin board that allows its users to connect and
organize images that are of interest to them. Members
have friends within the network who can easily view and
share images. Members and visitors can also use search
terms when visiting Pinterest. Real estate agents can post
exciting homes and features of homes on Pinterest, using
keywords that allow it to be pulled up by anyone seeking
a new home.
Pinterest is being hailed as the piece de resistance in
social media for the real estate market. Since the eye
appeal of a property can mean the difference between
attracting potential buyers and never getting a moment
of their attention, Pinterest wields great potential for real
estate agents. Once a home buyer follows a link to a
realtor’s website; even if they do not find that particular
home’s features amenable to their needs, they may find
something else on the website that attracts their attention.
Driving traffic to the website is a large step in building a
relationship between a realtor and a client, and Pinterest
is a potent means to bring home buyers to real estate
agents.
Some Quick Tips
Irrelevant is Out
Nothing makes fans unfollow an account quicker than
Nothing makes fans unfollow an account quicker than
a constant stream of ads and irrelevant content. While
automation of content does sound like a good idea, it
just doesn’t work. You need to remember that the whole
point of social media is having that personal one on one
interaction with your potential clients. Any sales person
worth his salt will tell you that the best way to sell someone
is by already having a personal relationship with them.
Automated updates short circuit that closeness new
clients are seeking in social media accounts.
Outsourcing is Out
The real estate business is all about being local. You can’t
outsource showing the client the house, so why outsource
a service for spreading the word about your market. Doing
so will only set yourself up for disappointment with social
media campaigns.
Repetition is Out
When you post something on Twitter, don’t have it also
put the same status on your Facebook page. It can be
a time-saving exercise but may prove self-diminishing.
Use Twitter for posting links to new listings and photos,
and go a bit further on Facebook with longer descriptions
and an album of photos. You could post links to events
like property fairs etc., but make them individual posts.
Looking lazy on Facebook can send fans looking for the
unlike settings.
Youtube is also a social networking
site, but in a limited sort of way. At the
same time, it’s hard to overlook You Tube as a resource
in your Internet marketing plans. Current statistics
show that 72 hours of video are uploaded to the platform
every minute! Many smart real estate professionals
upload video tours of available properties to attract
buyers. Voiceover videos appear more professional,
gaining better responses.
Instagram is an online photo-sharing
and social networking service that
enables its users to take pictures, apply
digital filters to them and share them on
a variety of social networking services like Facebook
or Twitter. People engaged in real estate marketing
efforts realize how important photographs are for their
business. It is, however, very time-consuming to bring
all photos to the office and get them uploaded to various
marketing sites. That’s why Instagram is so effective.
13PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Refresh Refresh Refresh
Both Facebook and Twitter are inundated with companies
trying to advertise to you. Some people enjoy the ads, but
most people online want a reason to click on your links.
Foster a positive environment where you can encourage
discussion about anything your clients may enjoy. Some
new ideas are always welcome. You could post links to
good restaurants in the area, or list local schools according
to popularity. An informative comment thread about the
market you represent can be the greatest promotional tool
than any old ad campaign you launch on Facebook.
Clients First!
Last but certainly not the least, follow online ethics
scrupulously. Keeping the environment positive will
automatically fetch you good results. Be careful of what
you post and take guard against trolls (people who just
can’t abide a good discussion without jumping in to stir
up controversy). Use the ban and block options when
you must.
Conclusion
Social Media is beyond doubt a powerful tool. It is a great
way to market yourself to new clients who are looking
for real estate in your area. When you take it seriously
enough, it can help market your company, product and
services to a huge audience that you may not have been
reaching before. At the same time, this also means
that your mistakes are amplified as well. If you can be
professional, friendly, and consistent, the results can be
astounding.
Building an online presence is a time consuming process
and requires writing a lot of quality content on a regular
basis. Starting off by opening only a few accounts,
determine how much time you could allocate to this
medium of marketing. Pace yourself well and gradually
you can build an enviable client base online. In addition
to this, it would be beneficial if you could create and
maintain a nice, basic blog . While it does take long to
start and build up a community where people actually
start communicating with you, the idea is to allow vertical
integration of your profiles on Facebook and Linkedin etc.
with the blog.
16
regional
Analjit Singh-promoted Max Group is
planning a foray into the hospitality
sector, with a wellness resort brand
‘Vana’. Spearheaded by Veer Singh,
Singh’s 30-year old son, Vana Retreats
& Hotels Pvt. Ltd. has plans to build
and operate lifestyle properties
across India as well as abroad with
an initial project outlay of Rs 300 cr.
Times Property Expo Venue: Pragati MaidanDate: 20 Apr to 22 Apr 2013
Real Estate, Banking & Finance Expo Venue: Parade GroundDate: 05 Apr to 07 Apr 2013
‘Vana’ Resorts
forthcoming events
Gurgaon
The Ministry for New and Renewable
Model Solar City Programme Chandigarh Investigating a complaint filed by
Registrar and Deputy Commissioner
(Revenue) of South-West Delhi on the
transfer of a 1,000 sq yard property
in Hauz Khas, the Central Vigilance
Commission is looking into the issue
of how that property of IFFCO was
transferred to its Managing Director,
Mr. US Awasthi. In response to the
controversy, Mr. Awasthi has offered
to return the posh accommodation to
the fertiliser cooperative.
Several companies that had bought
IT plots in Noida have been found to
have evaded stamp duty leading to
revenue losses of Rs 106 cr. The IT
plots were allotted along the Noida-
Greater Noida Expressway in 2007
and the revenue department has
now identified 78 allottees that have
since evaded the stamp duties.
IFFCO MD
Stamp Duty Evasion
New Delhi
Noida
ChandigarhNoida
newsdesk
English Cricketers New Delhi
At least five of the English cricketers
who toured India recently have
expressed their interest in buying
real estate in Goa, Mumbai and
Bangalore. At the moment, UK
citizens can buy Indian property by
opening a company in the country, or
by entering into a partnership with a
local resident.
Energy has chosen Chandigarh as
one of the cities to be developed
into a solar city and a sum of Rs
16.25 cr has been allocated to UT
Administration for implementation of
Model Solar City Programme. The
Energy and Resource Institute (TERI)
has identified 24 small and big parks
being maintained by the municipal
corporation that could be potential
locations for tapping solar power.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
As a first time initiative in the country,
survey department officials in
Bangalore will be registering over 20
lakh properties under Urban Property
Ownership Record. The project
seeks to streamline the ownership
registration of urban properties and
envisages issuing Property Record
(PR) cards to property owners.
As per owners of a sea-facing
bungalow on Pedder Road, the family
of the late Maharaja Martand of Rewa
(an erstwhile princely state in present-
day Madhya Pradesh) has complained
to the police that the property worth Rs
200 cr has been fraudulently sold for
Rs 20 cr on the basis of a fake power
of attorney.
national
17
It’s been six years since DLF Ltd
walked out of the 9,000 acre
Knowledge City township project on
the outskirts of Bangalore. Under a
new plan, the Karnataka government
is trying to revive the project on a
much smaller scale, adopting the
public-private partnership (PPP)
route. The new version is projected
to cost Rs 2,789 cr, a far cry from the
original Rs 50,000 cr estimate.
Times Property Expo Venue: Koramangala Indoor StadiumDate: 13 Apr to 14 Apr 2013
Prompt Property Festival Venue: Chennai Trade & Convention CentreDate: 19 Apr to 21 Apr 2013
Knowledge City
forthcoming events
Bangalore
In order to alleviate pressure brought
on by steady increase in population in
Chennai, the Tamil Nadu government
plans to construct 6,254 apartments
Apartment Construction
Maharaja’s Bungalow
Property Cards
Economic City
Chennai
Mumbai
Bangalore
Hyderabad
ChennaiBengaluru
newsdesk
The Andhra Pradesh High Court has
given a four week deadline to the Kiran
Kumar government to cancel the 571-
acre land allotment made to Economic
City near Sultanpur in Medak district.
The order was given while hearing a
public interest litigation as per which
the allotment has been described as
contrary to the public policy besides
being violative of the AP state land
revenue rules.
costing Rs 1,740 cr. In the first
phase, 2,522 rental apartments for
government employees and 1,170
apartments under self-financing
scheme for the public would be
constructed.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
The sale of Sony Corp’s prominent
headquarters in New York City for
$1.1 billion to the Chetrit Group is
likely to be complete by March this
year. The 37-storey Sony Tower
has been considered as one of the
landmarks along Madison Avenue at
the corner of 55th and 56th Streets
in New York City but the sale would
deliver an estimated US$685 million
in profits for the company.
18
international
With the implementation of new
rules tightening the 20% capital
gains tax on home sales and new
restrictions on home buying and loan
rates for second homes, the Chinese
government has managed to dampen
2013 Beijing International Property Expo Venue: Beijing Exhibition CentreDate: 11 Apr to 14 Apr 2013
Indian Property Expo Venue: NJ Convention & Expo CenterDate: 20 Apr to 21 Apr 2013
Property Stocks
forthcoming events
According to Knight Frank, luxury
property in Dubai recorded the world’s
second highest price increase last
year. Value of luxury properties in
Dubai and the island of Bali rose 20%,
behind only the Indonesian capital,
Jakarta, which showed the highest rise
in luxury property prices at 38.1%.
An independent advice group for
overseas property buyers – the
BuyAssociation has teamed up with
Price Rise Dubai
Online Advice Video London
China
Sony HQs New York
Beijing New Jersey
As per London-based Knight Frank,
prime residential prices across 14
cities included in its forecast is
expected to rise by 2.5% on average;
with Miami, Moscow and Dubai
being the strongest performers.
Strongest Global Markets Miami, Moscow & Dubai
newsdesk
the UK’s Foreign and Commonwealth
Office to launch a video guide to
buying property abroad. The video
outlines key information that people
require before buying a home
overseas.
speculation in China property market.
Property-related stocks have tumbled
to their lowest in five years.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
CHANDIGARH CAPITAL REGION PROPERTY HOT SPOTS
FOCUS THIS MONT
ZIRAKPUR R ZONE 1
ZIRAKPUR R ZONE 2
MULLANPUR - NEW CHANDIGARH
KANSAL
AEROCITY
MIXED LAND USE & INDUSTRIAL SECTORS 82, 66, 66A, 66B
LANDRAN - BANUR ROAD (RIGHT SIDE)
LANDRAN - BANUR ROAD (LEFT SIDE)
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Disclaimer: Map is not to scale and purely for illustrative purpose. Accuracy of the map is not guaranteed.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
23
Location: Gazipur, Zirakpur, Near ChandigarhHighlights: Premium 3 BHK & 4 BHK Duplex apartments near upcoming Golf CourseOptions: 3BHK & 4 BHK Duplex aprartments.
Sushma Crescent
BudgetPlanner
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Location: Gazipur, near proposed Golf Course, ZirakpurHighlights: Keyless biometric entry, every flat is corner & facingpark, hi-tech securityOptions: 3BHK only
Aero Homes
BudgetPlanner
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Property Manthan: 9582898136, 9582898136
Location: Chandigarh-Ambala HighwayHighlights: Designed by R204DESIGN, leading US architecture firm Professional Cricket Practive Pitches, Golf Putting, Designer Swimming poolOptions: 3BHK & 4BHK flats.
Sushma Chandigarh Grande
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
Vinayak Estates: 9356821021
Location: Gazipur, Zirakpur, Near ChandigarhHighlights: Premium 2 BHK apartments near upcoming Golf CourseOptions: 2BHK aprartments 1276 sq. feet. WiFi zone, round the clock security with CCTV.
Sushma Green Vista
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Gazipur, ZirakpurHighlights: Excellent Layout Plans situated near upcoming Golf Course & Express Highway in Zirakpur. Options: 3BHK (1663) & 4BHK+Servant (2630) Flats
Green Valley Towers, Gazipur, Zirakpur
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Gazipur, ZirakpurHighlights: 360 degree view with 6 balconies.Options: 3BHK, 1685 and 1825 sq ft.
Sushma Elite Cross
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
HOT SPOT IN FOCUS - ZIRAKPUR R ZONE 1
Sales Organisers/Dealers: Call 9216841278 to Adveriste in this spaceSales Organisers/Dealers: Call 9216841278 to Adveriste in this space
Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space
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PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
24
HOT SPOT IN FOCUS Disclaimer: Map is not to scale and purely for illustrative purpose. Accuracy of the map is not guaranteed.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
25
DISCLAIMER: Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space
HOT SPOT IN FOCUS - LANDRAN - BANUR ROAD (RIGHT SIDE)
Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space
Location: Sector 110, Mohali
(Banur Landran Highway)
Highlights: Internationally Planned
Residential Complex with all Ultra
Modern Amenities (85% Green
Elevated Park & Clubhouse).
Options: 3BHK, 4BHK Flats , INR
2800 Per SqFt only.
Sandwoods Opulencia
BudgetPlanner
Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space
Location: Sector 110-111, MohaliHighlights: 150 Acres TDI City-II is coming up with a club having world class amenities.Options: Residential plots, independent floors, commercial SCO’s, built up showrooms
TDI City Mohali II
BudgetPlanner
Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space
Location: Sector 115, Mohali (PB)Highlights: Coupled with world-class facilities like the swimming pool, clubhouse, gym and the myriad parks and orchardsOptions: 3 BHK 1695 Sq. Ft & 3 BHK Servant Room apartments from 1770 Sq. Ft. to 1806 Sq. Ft.
Ansals Tulip & Carnation
BudgetPlanner
Location: Sector 108, 109 Mohali near Chandigarh.Highlights: Most Premium Township of Mohali with Flats, Plots, Villas, Commercial. Options: Plots Sizes 280 SqYd, 300 SqYd15,000/- per SqYd.
Emaar MGF Plots in Mohali
BudgetPlanner
Location: Sector 110, MohaliHighlights: Existing inhabitants in the same location, PCA stadium – 7 kms, Quark & Dell – 4 kmsOptions: Aprtments, 2bhk 1050 sq ft. @ 25 lacs
Acme Floors
BudgetPlanner
Location: Sector 115, Kharar-Landran Highway, Greater Mohali near ChandigarhHighlights: PAY JUST 20% NOW and NO EMI TILL POSSESSION Options: 1BHK, 2BHK, 3BHK Multistoreyed Flats.starting @ Rs. 16 Lacs
WWICS Imperial Heights
BudgetPlanner
Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space
Sales Organisers/Dealers: Call 9216841278 to Adveriste in this space
0 10 20 30 40 50 60 70 80 90 100 150 >2000 10 20 30 40 50 60 70 80 90 100 150 >200
0 10 20 30 40 50 60 70 80 90 100 150 >2000 10 20 30 40 50 60 70 80 90 100 150 >200
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PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
WEEKEND/HOLIDAY HOMES
Location: 3km from Solan on Solan Sabathu Road.Highlights: Registry for built up area for built area Even for non Himachlis. Enjoyable weather round the yearOptions: 1 BHK 671 sq feet, 2 BHK 111 sq feet and 4BHK duplex cottages 2475 sq feet.
Amravati Hills
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Kasauli Hills at 5000 feet, nearly 15kms from Kasauli amidst pristine environment.Highlights:Each Villa & Apartment providing a panoramic view of Mountains. Landscaped Gardens, Swimming Pool & Gym. International 5 star Hotel Options: Villas and Apartments
DLF Samavana
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Dagshai HillsHighlights: Situated at height of 5500 sq feet. its un spoilt nature at its best with Villas, plots, 5 star resorts.Options: Luxurious independent villas, residential plots
Pine Wood Resorts
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Dharampur Sapatu Road 2 kms from Hotel Victoria IntercontinentalHighlights: Panoramic View of the valley. Non Himachalis can buy in their own name. Specially imported pre fabricated apartments.Options: 1BHK/2BHK on 400 sq yard Plot
Hill Farms
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Kais Village, KulluHighlights: First of its kind group housing in HP, Unique terraced landscaping all around.Options: Exclusive low rise designer apartments and Luxurious villas
Kaisville
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
Location: Solan Simla Old Road, Kumar hattiHighlights: Beautiful fully furnished apartment With un spoilt view of the mountains.An ideal hill farm house.Options: 2BHK and 3 BHK
Pine Wood Cottages
BudgetPlanner
0 10 20 30 40 50 60 70 80 90 100 150 >200
26
DISCLAIMER: Features, information & Budget Planner given above are indicative only. Please contact respective builder for more specific & accurate information. Property & Wealth is not responsible for any decisions taken through use of above information.
Sales Organisers/Dealers: Call 9216841278 to Advertise in this space Zigma Wealth: 8146992437
Sales Organisers/Dealers: Call 9872635220 to Advertise in this space Mega Marketing: 9815740230
SS Associates: 9876500036 Call 9815601347
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PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
28
‘Not In My Backyard’ - Does NIMBYism Exist In Indian Real Estate?
Kishor PateHon. SecretaryCREDAI (MAHARASHTRA)
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
29
NIMBY is not a term we often hear in India,
though it is quite a popular word (and a
dynamic concept) in the West. That said,
NIMBY - an acronym for ‘Not In My Back
Yard - is definitely an unspoken mind-set
when it comes to residential real estate in India.
Basically, ‘Nimbys’ are residents of a locality of project who
are opposed to the implementation of a certain initiative by
the Government, industries or private developers in their
neighbourhood. Classic examples in the Indian context
are flyovers, chemical factories, power plants and in fact
any kind of development that could conceivably obstruct
the view, disrupt the peace or pollute the air.
‘Nimbyism’ does exist in the Indian real estate space,
but the choices of opponents to certain developments
within their neighbourhoods is generally quite restricted.
The Indian real estate space is still largely unorganized,
and problems such as encroachment, unauthorized
structures and lack of scientific town planning are still the
order of the day in most of our cities.
The concepts of regulated real estate development and
macro-level town planning are beginning to take hold and
are, in fact, already operational in cities like Chandigarh,
Navi Mumbai and even in Pune. While this evolution is
happening against a large backdrop of damage that
already been done and is difficult to undo, this does not
mean that ‘Nimbyism’ is a futile and impotent concept in
India.
In Indian residential real estate, middle-class housing
societies – administrative bodies comprised of residents
within a registered housing complex – have the right to
refuse unscheduled construction within the complex
premises. That said, they have little or no control over
what happens beyond the compound walls. In cities like
Mumbai and Delhi, upscale housing complexes continue
to co-exist cheek-to-jowl with slums and slapdash
tenements. This is more or less accepted as a reality of
life, since slums are often under the political protection.
The ultra-luxury segment presents a rather different
picture. Indian cities do have their elite pockets, such
as Lutyens Zone in Delhi, Nariman Point in Mumbai,
Jubilee Hills in Hyderabad, and so on. In Pune, Sahakar
Nagar, Prabhat Road and Boat Club Road are ready
examples of empowered neighbourhoods. In these areas,
residents have a stronger voice over what happens in
their immediate locality – and they do raise them. This
level of influence derives from a combination of factors -
including the social strata in which the residents fall and
the fact that the zones themselves are under the purview
of stricter-than-usual zoning guidelines.
As such, Nimbyism is definitely not a negative concept -
in fact, cities like Pune need a larger dose of it. Residents
should have a say in what happens in their neighbourhoods.
This is especially true if the developments they are
opposing are taking place outside of the existing zoning
laws and are serious threats to the health, harmony and
safety. What is needed is more exacting city planning,
which should ideally be part of the overall development
plan for the city. Likewise, developers can also to some
extent ensure the sanctity of the residential projects they
create.
They can do so by avoiding the acquisition of plots in areas
which are known for unregulated development or where
major infrastructure undertakings such as power plants
and grids are scheduled to come up, by studying the city
planning and zoning for the area prior to acquiring plots,
by providing the projects with a high degree of integration
and self-sufficiency, and by ensuring that the project
has generous open spaces both within and around the
perimeter.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
The Annual Election Meeting 2013-14 of Property Consultants Association (Regd), Chandigarh was conducted at Hotel Park Grand, Sector 43-B, Chandigarh on 23 Feb 2013. Addressing the meeting, Sh. Madan Lal Garg, President and Sh. J.D. Gupta, Chief Patron of the Association highlighted the achievements of the Association during the concluding financial year. Keeping in view the admirable work done by the present body, the house decided to allow the incumbent President & General Secretary of the Association to continue in their posts in 2013-14.
Some of the key achievements of the Association during the year 2012-13 were as follows:
1. Distribution of DirectoriesColoured directories have been distributed to all members of the Association. The directory contains valuable information such as Area-wise (Sector-wise) list of members with their photographs, map of Mohali, Panchkula, Chandigarh and periphery.
2. Organisation of Blood Donation CampOn 16 Jun 2012, a Blood Donation Camp was organised for the benefit of Thalassemia patients at PGI, Chandigarh. 130 units of blood were donated.
3. Felicitation of Founder MembersOn the occasion of 33rd Foundation Day of the Association, 22 founder members of the Association were felicitated.
4. Formation of Cricket TeamThe Association has formed a cricket team named PCAC XI Chandigarh, consisting of selected members of the Association. All cricket kits and team uniforms have been provided by the team’s sponsor M/s Bajwa Developers (P) Ltd.
5. The Association has also initialed proceedings to register a Co-op House Building Society for the members of the Association. BK Sharma
Executive Member
RS SohalOrg. Secy.
& Captain of Cricket Team
Gurnam Singh SainiGen. Secy.
Kuljit Singh MintooFin. Secy. & Co-ordinator
Snapshots of House Meeting held at Hotel Park Grand, Sec. 43-B Chandigarh on 23rd Feb. 2013
Sh. ML Garg garlanded by the members President of the Association for 2013-14 in House Meeting held at Hotel Park Grand Sec. 43 -B, Chandigarh on 23rd Feb. 2013
after Union declared him
Founder Members honoured by Association on celebrating 33rd Foundation Day of Association
Blood Donation Camp organised for Thalassemia patients held at PGI on 16th June 2012
President ML Garg & Chairman Subhash Bhalla presenting memento to a blood donor
ML Garg, President addressing the House Meeting
Established about 35 years ago by a group of reputed property consultants, the Property Consultants Association, Chandigarh (Regd) consists of more than 650 property dealers from Chandigarh, Panchkula and Mohali. As it provides an interface between the Administration and property dealers, the Association has an important role to play in the growing Tricity property market. In addition to addressing routine problems faced by its members, the Association also conducts various social activities in the region from time to time.
Forging Tricity Growth, Govt Liaisoning & Social Activities Property Consultants Association (Regd), Chandigarh
The Annual Election Meeting 2013-14 of Property Consultants Association (Regd), Chandigarh was conducted at Hotel Park Grand, Sector 43-B, Chandigarh on 23 Feb 2013. Addressing the meeting, Sh. Madan Lal Garg, President and Sh. J.D. Gupta, Chief Patron of the Association highlighted the achievements of the Association during the concluding financial year. Keeping in view the admirable work done by the present body, the house decided to allow the incumbent President & General Secretary of the Association to continue in their posts in 2013-14.
Some of the key achievements of the Association during the year 2012-13 were as follows:
1. Distribution of DirectoriesColoured directories have been distributed to all members of the Association. The directory contains valuable information such as Area-wise (Sector-wise) list of members with their photographs, map of Mohali, Panchkula, Chandigarh and periphery.
2. Organisation of Blood Donation CampOn 16 Jun 2012, a Blood Donation Camp was organised for the benefit of Thalassemia patients at PGI, Chandigarh. 130 units of blood were donated.
3. Felicitation of Founder MembersOn the occasion of 33rd Foundation Day of the Association, 22 founder members of the Association were felicitated.
4. Formation of Cricket TeamThe Association has formed a cricket team named PCAC XI Chandigarh, consisting of selected members of the Association. All cricket kits and team uniforms have been provided by the team’s sponsor M/s Bajwa Developers (P) Ltd.
5. The Association has also initialed proceedings to register a Co-op House Building Society for the members of the Association. BK Sharma
Executive Member
RS SohalOrg. Secy.
& Captain of Cricket Team
Gurnam Singh SainiGen. Secy.
Kuljit Singh MintooFin. Secy. & Co-ordinator
Snapshots of House Meeting held at Hotel Park Grand, Sec. 43-B Chandigarh on 23rd Feb. 2013
Sh. ML Garg garlanded by the members President of the Association for 2013-14 in House Meeting held at Hotel Park Grand Sec. 43 -B, Chandigarh on 23rd Feb. 2013
after Union declared him
Founder Members honoured by Association on celebrating 33rd Foundation Day of Association
Blood Donation Camp organised for Thalassemia patients held at PGI on 16th June 2012
President ML Garg & Chairman Subhash Bhalla presenting memento to a blood donor
ML Garg, President addressing the House Meeting
Established about 35 years ago by a group of reputed property consultants, the Property Consultants Association, Chandigarh (Regd) consists of more than 650 property dealers from Chandigarh, Panchkula and Mohali. As it provides an interface between the Administration and property dealers, the Association has an important role to play in the growing Tricity property market. In addition to addressing routine problems faced by its members, the Association also conducts various social activities in the region from time to time.
Forging Tricity Growth, Govt Liaisoning & Social Activities Property Consultants Association (Regd), Chandigarh
32
Handling Mall Vacancies, How Revenue Share Works And Evaluating A Mall
Shubhranshu PaniManaging Director – Retail, Jones Lang LaSalle India
Handling Mall Vacancies
Increased vacancy rates in malls can typically be attributed
to three factors:
1. Normal churn, which is desirable
2. The available spaces are not conducive to retail, or
exist in a center that has been over-built
3. Spaces that are not conducive for retail have not
been reinvented for alternate use. In an over-build
situation, it will take time to find takers for such
spaces
Mall owners guard against vacancy in mall in the following
ways:
• Launching the mall at 85% plus occupancy
• Choosing an initial set of brands that works well in
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
33
a given location - either on the basis of the format or
products being suitable for the location and catchment,
or because of store sizes are suitable for those brands, or
on the basis of an overall strategy for the region leading to
lower drop-outs
• Good tenure completion strategy – As ongoing
occupier tenures complete, landlords look at churning
in order to get new brands into the mall. At this point,
they may aim to position the mall at a higher profile. They
would ensure that this positioning is applicable for the
given location and that the concurrent increase in rentals
is not beyond the normal growth of escalation.
Most vacant spaces in malls get reused. In the case
of malls that are older than nine years, landlords often
consider upgrading the entire center, or parts of the
center. They may have an alternate development strategy
according to which they will remodel the spaces and
redesign / rezone the center.
The Learning Curve
India has enough retailing in most micro markets, and
there is sufficient experiential basis for them for them
to understand the benchmarks and figure out if their
products will work well or not. Experienced retailers right-
size for efficiency, productivity and economy.
The best-performing malls are always in demand by
retailers, and are in a position to pick their tenants. Mall
owners always have the choice of improving the tenant
mix by seeking out the kind of retailers that work best for
the catchment in question. They can also make strategic
improvements to the center, or offer something unique
to make the overall shopping experience more complete.
These kinds of strategies usually need to be formulated
and implemented either by the existing mall marketing
manager or by professional agencies.
How The Revenue Share Model Works
Indian retail has moved into a consumption-based mode.
Retailers offer minimum guarantee and revenue share,
where the revenue share is a percentage of the profits
generated by actual performance. Mall rentals in most
locations are high, and minimum guarantees in the first
couple of years are always above revenue share. This
brings into play the retailers’ ability to pay – therefore,
the revenue share does not kick in over the short term.
Revenue share usually becomes a factor after anything
between 3 months to 3 years of active tenancy, depending
on how the center is priced during its initial leasing.
The revenue share model is a means to make the
expensive real estate viable. There is an underlying interest
of the landlord to reach a higher rent, which the retailer is
unable to pay. Good retailers take the benefit of a reduced
minimum guarantee, thus reducing their fixed cost and
thereafter ensuring that they deliver superior returns by
reaching revenue share and sharing the upside with the
landlord. More retailers should adopt this philosophy.
Retailer’s Pre-Lease Checklists
In today’s scenario, retailers should look for certain
aspects in a mall before taking up space there:
1. Professional mall management
2. Professional maintenance of the center
3. Scientifically formulated tenant mix
4. Adequate parking
5. Adequate location of the store
Questions retailers should ask themselves before taking up
a mall space:
1. Who are the customers?
2. Which retailers do well here?
3. Is the landlord doing his share in terms of upkeep,
promotions, etc.?
4. Is my store going to be easily accessible to the
customers?
5. Of all the choices available in the mall – which
space is likely to be most accessible, and why? What
happens to the viability of my store if the circulation
of the center changes and customers come through
a different entry?
6. Am I taking the right size of store - or can I take a
smaller store and make its operation more efficient?
7. Am I taking on a rent that I can afford – at least from
the second year onward?
8. What will I do if it does not work for me – what are
my exit options and means to cut losses?
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
34
Retrofitting And Repositioning Real Estate Assets
Even in economically challenging times, a
lot of equity capital today is chasing prime
real estate assets, presenting a monumental
market for refurbishing and repositioning. This
is especially true because prime products in
prime locations are so thin on the ground. In Mumbai, the
iconic Express Tower is a good example of a real estate
asset in a prime location of India’s financial capital that is
ideally suited for advantageous repositioning.
Express Tower at Nariman Point has always had the benefit
of a distinct identity. With long-standing tenants and a
strong management structure in place, this commercial
space edifice has no real competitors in its micro-market.
The repositioning of such an asset represents a huge
upside potential for all stakeholders – but, needless to
say, doing so is no small task.
In the case of many older buildings, a partial or complete
retrofit in terms of the building envelope, its engineering
systems, seismic resistance levels and energy efficiency
improvements are called for. Undertaking such initiatives
on a building that is located in the bustling heart of a city’s
CBD presents some logistical and tactical challenges.
Apart from these aspects, there are often also various
legal aspects to be tackled – such as upgrading the
building’s compliance to new building or zoning codes,
the upgrading of its infrastructure capacity and ensuring
that accessibility is not compromised but rather improved.
Some buildings need only marginal refurbishing in
order to attain revitalized market viability. Other assets,
especially those in prime locations, often need a complete
makeover. Some properties have the advantage of
substantial land holdings, while others are located in
constrained geographies. In short, properties which are
good candidates for refurbishing and repositioning fall
into several distinct construction categories. Each of these
categories has their own level of complexity.
In the least
c h a l l e n g i n g
reposi t ioning
scenario, a
property may
need only
c o s m e t i c
remode l l ing .
This kind of
u n d e r t a k i n g
r e p r e s e n t s
m a r g i n a l
d i s r u p t i o n
to existing
tenants, is
relatively easy
to implement
and calls for
minimal capital investment. Such upgrades usually
involve updating of obsolete interiors in order to bring
about a more contemporary appearance.
In a more complex scenario, the asset requires both
an internal and external facelift, which includes all the
internal aspects as well as improvement of the project’s
external image. This kind of repositioning is naturally more
cost-intensive. Some assets have the option of using even
more complex strategies such as horizontal or vertical
expansion, or both simultaneously.
Finally, retrofitting and repositioning or a prime real estate
asset must be done with clear objectives in mind. Various
factors may conspire to prevent an older building from
competing on all fronts with newer structures in the same
genre. In such cases, working towards the fulfilment
of specific objectives such as improving structural
viability, energy efficiency and creating a superior tenant
experience is a good way to go.
Santhosh KumarCEO – Operations, Jones Lang LaSalle India
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
35
CASE STUDY – UPGRADING THE EMPIRE STATE BUILDING’S
SUSTAINABILITY QUOTIENT
In April 2009, world-class environmental consulting,
non-profit, design and construction partners – including
the Clinton Climate Initiative, Rocky Mountain Institute,
Johnson Controls Inc. and Jones Lang LaSalle Used
the Empire State Building as a test case and model to
unveil an innovative process for analysing and retrofitting
existing structures for environmental sustainability.
Adopted as core elements of a more than $500 million
upgrade program at the world’s most famous office
building, the program was the first comprehensive
approach that integrates many steps to use energy more
productively. The program’s primary purpose was to
reduce energy consumption by up to 3% and provide a
replicable model for similar projects around the world.
At the end of the project definition process, the team
analysed the steps to be taken in conjunction with other
steps towards sustainability as part of the Empire State
ReBuilding program within the framework of the existing
USGBC LEED rating system. Internal calculations show
that the Empire State Building will be able to qualify
for GOLD certification for Leadership in Energy and
Environmental Design (LEED) for Existing Buildings,
and ownership expressed its intention to pursue such
certification.
Commercial and residential buildings account for the
majority of the total carbon footprint of cities around the
world. Most new buildings are built with the environment
in mind, but the real key to substantial progress is
reducing existing building energy consumption and
carbon footprint. The innovative process adopted at the
Empire State Building has developed new techniques
for modelling and organizing an integrated program and
offers a clear path to adoption around the world, leading
to significant reductions in greenhouse gas emissions.
Along with other steps taken in recycling waste and
construction debris, use of recycled materials, and green
cleaning and pest control products, the model built at
the Empire State Building significantly reduces energy
consumption and environmental impact and allows more
sustainable operations. Simultaneously, it enhances
profitability and tenant comfort.
The project partners used existing and newly created
modelling, measurement and projection tools in a new
and repeatable process to analyse the Empire State
Building and establish a full understanding of its energy
use as well as its functional efficiencies and deficiencies.
This provided actionable recommendations along a cost-
benefit curve to increase efficiency and without harming
bottom line performance.
In reviewing more than 60 optional activities, the team
identified eight economically viable projects, applicable
to building-wide renovations, electrical and ventilation
system upgrades and tenant space overhauls that provide
a significant return on investment, both environmentally
and financially.
In a distressed economic climate, there is a tremendous
opportunity for cities and building owners to retrofit
existing buildings to save money and save energy. Not
only has this project dramatically reduced the Empire
State Building’s environmental impact, but it was done
in a way that provides meaningful costs savings to the
building as well as its tenants.
Express Tower at Nariman Point, Mumbai
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Budget Misses Opportunity For Growth, Says CREDAI
36
Mr. Lalit Kumar JainCMD Kumar Urban Development & National President, CREDAI
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Realty developers’ apex body CREDAI
has expressed disappointment over the
Finance Minister missing out on affordable
and rental housing and banking reforms.
CREDAI, however, praised Union Finance
Minister Mr. P Chidambaram for accepting the suggestion
for home loan interest incentives for sub-Rs 25 lakh
buyers, “but, honestly we were expecting a lot more,”
said Mr Lalit Kumar Jain, National President CREDAI &
CMD Kumar Urban Development Ltd (KUL).
Announcing apex body CREDAI’s reaction to the Union
Budget 2013-14, Mr Lalit Kumar Jain, National President
CREDAI noted with happiness that the first time home
loan borrowers of properties of sub-Rs 25 lakhs will be
allowed an additional deduction of Rs one lakh. He also
welcomed the interest deduction of an additional Rs 1
lakh for home loan borrowers, taking the allowance to Rs
2.5 lakhs, for all self-owned properties.
CREDAI – Confederation of Real Estate Developers’
Associations of India – with over 10,000 members across
20 cities has been campaigning for easing the restrictions
on funding the sector to fulfill the housing needs of the
millions of homeless. However, the developer community
is thoroughly disappointed that the Finance Minister has
not given any directions to the RBI on the imperative to
support real estate funding. “We have been suggesting
to the government for long to help revive the real estate
sector to rejuvenate the economy,” said Mr Jain and
expressed the disappointment that that Finance Minister
did not address the sector adequately.
CREDAI has been demanding the infrastructure status for
real estate which Union Housing Minister Ajay Maken
has supported. But the Union Budget did not make any
mention of this, Mr Jain said. CREDAI had called for
tax exemptions for incomes on affordable housing with
tenements of less than 60 mtr carpet area and incentives
for rental housing, but the budget failed to address these
key issues, Mr Jain said. “We have suggested a 20%
reduction in FDI limit in real estate from the current
50,000 sq mtr and 25 acres that could help generate
funds, but we are unhappy that the Finance Minister
ignored this aspect,” Mr Jain said and remarked that the
sector would continue to face cash crunch.
CREDAI said the nation urgently needs to scale up the
delivery of housing which can be achieved with the help of
imported technology. “We have been asking for tax reliefs
for importing the technology,” Mr Jain said. CREDAI
criticized the government for not withdrawing TDS on
immovable property transactions. The Finance Minister
seems to have gone for revenue generation through the
high tax route and not by the growth-oriented economy
which is highly disappointing, Mr. Jain added.
About CREDAI
The Confederation of Real Estate Developers’ Associations
of India (CREDAI) is the apex body for private real estate
developers in India. CREDAI represents over 8,800
developers through 20 states and 114 city chapters
across the country. Its numerous initiatives and activities
help developers come together and work towards better
practices, improved customer service and a stronger
realty industry.
Acting as the voice of India’s Real Estate industry, CREDAI
has been the guiding force for the growing Real Estate
sector in India bringing more transparency to rid the sector
of its most potent virus, Corruption and Red-Tapism.
37PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
# 61, Sector 18, Panchkula. Mob.: 92168 41278, 96534 90791 Email: [email protected]
TRIF Kochi’s Tritvam
38
projectwatcher
P a g e | 7
Project Photographs
Iconic Tower - February 7, 2013
Tower 1 - February 7, 2013
Side view - February 7, 2013
Tower 2 - February 7, 2013
Tower 3 - October 6, 2012 Tower 4 - October 6, 2012
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Project Star Rating Rationale
Project developer quality – TRIF Kochi Projects Pvt. Ltd.
(TKPPL) is a Special Purpose Vehicle created by Tata
Realty and Infrastructure Ltd (TRIL) to develop a premium
residential project ‘Tritvam’ at Kochi. TRIL belongs to the
TATA Group, and is a 100% subsidiary of Tata Sons. TRIL
has been in the real estate industry since March 2007
and have worked in mixed use development (commercial/
retail/residential/hospitality) and other infrastructure
projects. TRIL is managing 4 ongoing real estate projects
(excluding Tritvam) through various SPVs having a
consolidated saleable area of over 7 million square feet
(msf). TKPPL is managed by TRIL and is a fully owned
subsidiary of Tata Realty Initiative Fund (TRIF), in which
TRIL is also a share holder.
Project construction quality and amenities – The company
has hired award winning (American Institute of Architects
[AIA] Harry Seidler award-2009) Australian architect
firm Woods Bagot (WB) which is globally known for
making water front real estate properties. Further, TKPPL
has outsourced its civil construction works to Leighton
Welspun group, which is a leading multinational company
dealing in constructions, mining and project development.
Besides, the company has hired Sterling Engineering
Consultancy and Made Wijaya as its structural and
landscaping consultants, respectively. The company has
also hired Edifice Group of Mumbai and CBM Engineers,
USA to work as the peer consultants to Woods Bagot
and Sterling Group, respectively. Association with above
entities specializing in their respective domain is likely to
enable TKPPL to deliver quality residential project.
The internal project team of TRIL verifies and monitors
the works of the aforementioned specialised entities. A
weekly report is generated from the project site and is
delivered to TRIL project team to evaluate the quality of
work done by these consultants. To maintain the quality of
construction, Leighton Welspun has setup an independent
quality control (QC) team and a safety control team that
directly reports to the TRIL. The developer uses SAP
based MIS system to keep track of project’s progress.
Both raw material usage and labour contracts are tracked
on a daily basis.
The project comprises 7 residential towers, one
convenience retail (3000 sq. feet), and one multilevel
car parking (MLCP), and the project can accommodate
around 800 cars. The entire project is spread over a
land admeasuring 8.44 acres with sea facing front view
and bird sanctuary as its rear view. The project features
adequate amenities such as club house, tennis court,
terrace gardens, infinity swimming pool, yoga court,
children’s play area, jogging track, senior citizens corner
to name a few.
Project legal quality – The project’s land title is clear and
marketable and the title search (done by Wadia Ghandy
and Co) for the entire property is done for 18 years. All
pre-construction approvals have been obtained for the
project. The project layout is approved by Corporation of
Cochin (COC) and commencement certificate has been
obtained for the same.
Project financial quality – High funding risk due to high
dependence on customer advances. Nevertheless, the
project belongs to TRIF, which is a mid-sized private
equity fund enabling adequate financial flexibility during
stressed scenarios.
CARE Assigns “Kochi 7-Star” Rating to Tritvam by TRIF Kochi Projects Pvt. Ltd.
39PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Tower-16, Tower -17, Tower -1840
Project Developer Profile
Name of the company developing the project TRIF Kochi Projects Pvt. Ltd.
Project developer group Tata Realty and Infrastructure Ltd
Development Experience of the developer group 6 years
No. of years in the industry 6 years
No. of projects developed till date Nil
Total Area developed till date Nil
No of projects ongoing (TRIL) 4 (more than 7 msf of saleable area excluding Tritvam)
Project Profile
Project Name Tritvam
Project Type Residential
Project Location Marine Drive, Kochi
Development Type Bought out land
Project Start Date July 2010
Scheduled Project Completion Date June 2015
Agreed upon Possession to the customer July 2015 (with 9 months grace period, April 2016)
Total Saleable Area 1.06 msf
Construction Status The project construction is in initial stages and the same has progressed
reasonably till date. As on February 7, 2013, construction has been carried
out upto 2nd level in Tower I and upto 4th level in Tower II, Tower III and
Tower IV of phase I. Besides, work has been carried out upto basement
level in the iconic tower of phase I. Phase II work is yet to commence.
Project progress report is sent to customers on a monthly basis along with
site pictures.
Project Developer
TKPPL is a Special Purpose Vehicle created by TRIL to
execute the project ‘Tritvam’ at Kochi. TRIL has been in the
real estate industry since March 2007 and have worked
primarily in mixed use (commercial/ retail/residential/
hospitality) and other infrastructure projects. At present
TRIL has 4 ongoing projects (excluding Tritvam) having a
combined saleable area of more than 7 msf spread across
India. The commercial project TRIL Info park at Chennai
is a land mark project and has been acknowledged for
it’s pioneering construction work in the field of advanced
real estate. TRIL derives support from its promoters (TATA
Group) who are one of the pioneer corporate groups of
India. The management of TRIL is assisted by a team of
experienced professionals across various functions.
Financial Performance – Project stage company and past
financials are not meaningful.
Project Details
The project is situated at Marine Drive which is one of the
most populous and prime locations of Kochi. It is amongst
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
41
the prominent tourist attractions in Kochi and is as well
amongst it’s most expensive housing destinations. It is
well connected to the Airport and Railway Station via the
4-Lane Marine Drive Road. The project location is close to
the Central Business District of Kochi. Marine drive also
has a bird sanctuary and sea beach nearby. The project
is spread over 8.44 acres of land, uses a FSI of 2.75x and
has a total saleable area of 1.06 msf with 504 residential
units ( mix of 3 BHK, 4BHK and duplex apartments). The
project comprises 7 residential towers, one convenience
retail (3000 sq. feet), and one multilevel car parking
(MLCP).
Highlights of the project
• Rainwater harvesting plant
• Water softening plant
• Sewerage treatment Plant
• Infinity Swimming Pool
• Over head tanks for each building. Underground
sumps also available.
• Multi Level Car Parking
• Lawn areas and club house
• Partial Power back up (generators)
• CCTV, Video Doorbell System and 24/7 Security guard
The project uses a combination of pile and raft foundation
and the piling is done 50 metres into the ground.
• The development of project is in initial stages. As
on December 31, 2012, the company has incurred
approximately 23% of total construction cost.
Brief particulars about various contractors are as follows –
1. Structural Consultants
The company has hired Sterling Engineering Consultancy
Services Private Limited (SECPL) as it’s structural
consultants. SECPL was registered in 1978 has experience
in large office complexes, luxury hotels, shopping centres,
hospitals, industrial projects, multi-storied apartment
buildings, sports complexes, townships and other civil
engineering projects. SECPL has completed projects not
only in India, but also in The United Arab Emirates, Saudi
Arabia, Mauritius, Iraq and Sri Lanka. Many of these
projects have been in collaboration with architects of
international repute.
2. Architects
The company has hired Woods Bagot which is a global
design studio specialising in the design and planning of
iconic buildings. Some of the iconic projects that they
have worked on include: Burj Dubai Residences, Nakheel
harbour and Tower, University of the Arts, London and
Marina resort, France.
3. Civil Engineers
The company has hired Leighton Welspun to work as civil
engineering contractor. Leighton Welspun is part of the
Leighton Holdings Group - Australia’s leading corporation
in constructions, mining and project development -
Leighton Welspun Contractors Pvt. Ltd. has been in India
since 1988. With wide-ranging expertise in its field, the
company is contractor of international repute.
4. Landscape Consultants
The company has hired renowned landscape consultants
Made Wijaya to design the spacious landscapes of
“Tritvam”. Made Wijaya, also known by his Australian
name of Michael White, who is renowned across Asia for
his spectacular tropical landscapes, many of which grace
the finest luxury hotels and residences in the region. Over
20 years, Made Wijaya has built a reputation for landscapes
that are not only magnificent in design, but also crafted
to the smallest detail, with terraces, courtyards, pools and
garden decorations enhancing their impact and appeal.
5. Other Contractors
The company has also hired Edifice Group of Mumbai
and CBM Engineers, USA to work as the peer consultants
to Woods Bagot and Sterling Engineering Consultancy
respectively.
Project Legal status
• Title search for 18 years is conducted for the entire
land bank of 3.67 lsf.
• The project has obtained all the approvals required
for the construction.
• The sales agreement is extensive and transparent
with clarity over the payment terms and schedule which
is linked to the progress of the project, payments to the
customer if the project gets delayed. The agreement also
provides for a fixed possession date which is July 2015
(and a grace period of 9 months which adds up to April
2016) and a defect liability period of one year.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
42
Project Financial Status
• The total project cost of approximately Rs.700 crore
(excluding operating expenses not to be capitalised) and
as on December 31, 2012 is proposed to be funded by
way of promoter funds of Rs.214 crore, debt of Rs.65
crore and balance through customer advances.
• As on December 31, 2012, the project has already
incurred project cost of approximately Rs.325crore,
which was funded through promoter funds of Rs.214
crore, unsecured debt of Rs.28 crore, secured debt of
Rs.65 crore and customer advances of Rs.18 crore. The
remaining cost of approximately Rs.375 crore is yet to be
incurred, and is dependent on customer advances.
• The company has received bookings for 72 units out of
total of 504 units of phase I as on December 31, 2012.
Phase II is yet to be launched for sale.
Disclosure:
Shri Vittaldas Leeladhar, director in Tata Global Beverages Ltd., Tata Cleantech Capital Ltd., India Collection Management
Ltd., did not participate in the rating process or in the meeting of the Rating Committee when the CARE Real Estate Project
Star Ratings of Tritvam was discussed
Disclaimer
CARE’s rating of real estate projects is an opinion on the developer’s ability to execute the real estate project in
timely manner and with the agreed upon quality standards. Besides, it is an opinion of the legal quality of the
project. The analysis draws heavily from the information provided by the developer and information obtained
from sources believed by CARE to be accurate. However, CARE does not guarantee the accuracy, adequacy or
completeness of any information and is not responsible for any errors or omissions or for the results obtained from
the use of such information. Also, CARE does not guarantee the adequacy of title search done to arrive at the legal
quality of the project. CARE’s Real Estate Project Star rating is also not a recommendation to buy, sell or hold the
rated real estate property. CARE shall also not be liable for any losses incurred by users from any use of such rating.
Most of the developers whose real estate projects are rated by CARE have paid a rating fee.
About CARE
Credit Analysis & Research Ltd. (CARE) was promoted in 1993 by some of the leading Indian banks and financial
institutions. Major shareholders of CARE include IDBI Bank, Canara Bank and State Bank of India. CARE is amongst the
premier credit rating agencies in India and provides credit rating, research and information services. CARE Ratings is well
equipped to rate all types of debt instruments including Commercial Papers, Fixed Deposits, Bonds, Debentures, Hybrid
Instruments, Preference Shares, Loans, Structured Obligations, Asset Backed Securities, Residential Mortgage Backed
Securities etc. CARE’s rating methodologies are in line with the best international practices.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
The Punjab Chapter of Confederation
of Real Estate Developers Association
of India (CREDAI) held an election
meeting on the 19th of March, 2013 and
announced that for the 3rd consecutive
term, Mr. Anil Chopra, CMD, St. Soldier
Group, Jalandhar, Mr. Kulwant Singh,
CMD, Janta Group and Mr. Amardeep Singh
Hira CMD, Shiwalik Group had been re-
elected unanimously as the Chairman,
President and Gen. Secretary respectively
for the year 2013-15. All 6 Chapter
Associations of Punjab participated in the
elections which were held at Hotel Shivalik
View, Chandigarh. Mr. NK Sharma Chief
Parliamentary Secretary and Adv IP Singh,
Legal Adviser were the Presiding Officers.
All other Office Bearers and Executive Committee Members will be nominated by the President
According to Mr. Kulwant Singh, President, CREDAI Punjab, “The key objectives of CREDAI, Punjab would be to take up
various issues which will be of help to the general public as well as the members of CREDAI.” While thanking Mr. Sukhbir
Singh Badal, Dy. CM, Punjab for introducing a new Housing Policy, he urged for its implementation with immediate effect.
Mr. Kulwant Singh announced that a delegation of CREDAI would meet the Dy CM and Housing Secretary and take up
the other issues including simplification of norms to get completion certificates, time bound approvals and approvals of
all pending projects which had been applied to the Competent Authorities etc.
The Confederation of Real Estate Developers Association of India has 20 state chapter associations, over 127 city chapter
associates and more than 10,000 members.
Result of elections of the Confederation of Real Estate Developers Association of India (CREDAI), Punjab Chapter :
Chairman: Mr. Anil Chopra, CMD, St. Soldier Group, Jalandhar,
President: Mr. Kulwant Singh, CMD, Janta Group
Gen. Secretary: Mr. Amardeep Singh Hira CMD, Shiwalik Group
All other Office Bearers and Executive Committee Members: To be nominated by the President
Elections of CREDAI Punjab Chapter heldFor the 3rd consecutive term Mr. Anil Chopra, Mr. Kulwant Singh and Mr. Amardeep Singh
Hira re-elected unanimously as Chairman, President and Gen. Secretary respectively
43PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
44
She started off as a journalist with the Indian Express.
Then she did a master’s degree in international relations
and became an officer on special duty with the Planning
Commission. Accompanied by Padma Shree award
winner Dr. Syeda Hameed, Gunjan set out to explore
the most unexplored parts of the country and about six
years later, the duo submitted a report to the Planning
Commission. They eventually co-authored “Beautiful
Country”, a compelling book based on that report.
Gunjan has turned entrepreneur now, having launched
Indiareads.com, an online library-cum-bookstore.
The 58-year old controversial billionaire from London
wants a Chinese shipyard to build his dream project
– a replica of the Titanic that should be ready for its
maiden voyage from Southampton to New York in
2016. The Titanic II will have a high-tech engine, air
conditioning, a hospital, a helipad… and more lifeboats!
But passengers would still be able to dine in early-20th
century finery.
Clive PalmerGunjan Veda
be a prosperity seeker
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
45
Best known for an experiment in which he carved a
hole from his research center in Delhi into an adjacent
slum, placing a freely accessible computer there for
children to use; Sugata Mitra is one of the recipients
of the 2013 TED Prize. Introduced in 2005, the TED
Prize annually grants three extraordinary individuals
$100,000 and a “wish to change the world”. The
professor’s wish - “Help me build the ‘School in the
Cloud,’ a learning lab in India, where children can
embark on intellectual adventures by engaging and
connecting with information and mentoring online.”
Sugata Mitra
name, fame, money, social work… know what gives you a kick!
Two tech savvy, school-going brothers from Chennai
are founders of GoDimensions, a mobile applications
firm which designs apps that have been downloaded
25,000 times in over 40 countries. Studying in sixth
and eighth grades, the Kumaran brothers have already
designed four applications for the Apple store. Some
of their popular applications include Alphabets Board,
Color Pallette and Catch Me Cop among others. The
proud father of the wonder kids, Kumaran Surendran,
45, is a techie himself and the director of an IT firm.
Shravan and Sanjay Kumaran
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
46
quotemagic
“Though I am grateful for the blessings of wealth,
it hasn’t changed who I am. My feet are still on
the ground. I’m just wearing better shoes.”
Oprah WinfreyAmerican television host, actress, producer and philanthropist Oprah Gail Winfrey is most famous for launching and hosting the Oprah Winfrey Show, an American syndicated talk show that aired nationally for 25 seasons from 1986 to 2011. Voted the most influential celebrity for 2013 by Forbes magazine, Oprah was branded “ignorant” by India’s media after the broadcast of a two-part TV special about her trip to the country.
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
eyecatchers
Amish TripathiAn alumnus of Indian Institute of Management Calcutta, author Amish Tripathi had originally wanted to be a historian but opted for a career in finance because he couldn’t afford the former. The Shiva Trilogy, his first three books that were a ‘‘re-imagined” account of the life of Shiva have sold over 1.5m copies and brought in more than 400m rupees in sales. The 38-year old author has just won the first million-dollar advance to be paid to an Indian writer by an Indian publisher.
Amish TripathiAn alumnus of Indian Institute of Management Calcutta, author Amish Tripathi had originally wanted to be a historian but opted for a career in finance because he couldn’t afford the former. The Shiva Trilogy, his first three books that were a ‘‘re-imagined” account of the life of Shiva have sold over 1.5m copies and brought in more than 400m rupees in sales. The 38-year old author has just won the first million-dollar advance to be paid to an Indian writer by an Indian publisher.
47PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Rajiv Gandhi Equity Savings Scheme is a
tax savings scheme designed for first time
retail investors in the securities market.
Indian residents earning less than Rs 12
lakhs a year and having not done any
equity transactions before 23 Nov 2012 are eligible for
investment in this scheme. A maximum investment
amount of Rs 50,000 in approved stocks and mutual
funds is allowed and investors can claim income tax
deduction on 50% of the amount U/S 80 CCG of the
Income Tax Act.
For investment in RGESS one can either directly buy
equity shares of the top 100 companies listed on the stock
exchanges or through exchange-traded traded funds of
mutual fund (MF) houses available on BSE Ltd or the
National Stock Exchange. Index funds are not RGESS-
eligible securities since they are not listed on the stock
exchange and therefore are not automatically available in
the demat mode.
The Rajiv Gandhi Equity Savings Scheme (RGESS) has
commenced operations and there are a few details related
to the tax benefit that the individual will have to take into
consideration. Here are some of the basic points that the
investor needs to bear in mind:
Scheme for 1st Time Investors
The first and foremost requirement with respect to the
availability of the tax benefit under this scheme is that
it is meant for first time investors. When it comes to the
question of determining a first time investor, a layman’s
explanation is that they should not have invested through
a demat account before. The fact as to whether they have
invested in equities before can be tracked through the
use of the Permanent Account Number (PAN) with a
demat account.
Tax Benefit
The benefit for this scheme is in the nature of a deduction.
This means that the amount that will qualify for the
benefit would be reduced from the taxable income of
the individual. The total taxable income of the individual
would be taken into consideration and then the amount
of the benefit would be reduced from this so that the
net figure is the one on which the tax will be calculated
and paid. The facility that has been added by the Union
Budget 2013-14 is that the deduction can be taken over
a period of 3 years so the investor can actually spread out
their investments.
Other Details
The manner in which the tax deduction would be available
must also be considered. The tax benefit is available to
an investment upto Rs 50,000 in total. This means that
the maximum investment eligible for this purpose would
be this figure and the deduction that is available for
the investor would be to the tune of 50% of the eligible
amount. This would mean that the maximum benefit
in the form of deduction that would be available for the
investor cannot exceed Rs 25,000.
Unlike other tax-saving schemes, the lock-in period here
is split in two. The first year is a fixed lock-in and the
investor cannot sell, pledge or hypothecate the shares.
The next two years are flexible and he can sell, but has
to buy other eligible securities with the proceeds. All
eligible securities in an RGESS designated account are
automatically subject to the lock-in periods.
Since direct investment in equity needs expertise and
first-time investors are unlikely to have it, they should
refrain from investing directly in the market. The risk is
also high because Rs 50,000 is not enough to create a
well-diversified portfolio. A better option is to go through
the mutual fund route. As of now, several exchange traded
funds (ETFs) have been declared as eligible securities
and investors can invest in these.
49PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
planetsavers
pot a plant today!Contrary to popular opinion, indoor air is more polluted than its outdoor counterpart, posing significant risks to our health. New research shows indoor plants reduce air pollution.
50 PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Financial expert Suze Orman outlines a
revolutionary approach to the way we
save money, handle debt and plan for our
retirement. She combines wisdom with heart
to offer a book that not only gives sound
advice, but explores the emotions and memories that
subconsciously block our efforts to get ahead. Suze draws
from her experience as a Certified Financial Planner ®
professional, vice president of investments for Prudential
Bache Securities and account executive at Merrill Lynch.
The New York Times bestselling author’s message, very
relevant in these turbulent economic times:
• Debt is bondage and how best to break free of it
• How to find the best financial advisor
• How to avoid being taken for a ride when buying life
insurance
• Which retirement accounts make sense and which
don’t
bookshelf
This book is currently available with www.homeshop18.com for ` 789* (Shipping Free).
The 9 Steps to Financial Freedom
Practical and Spiritual
Steps So You Can Stop
Worrying
Suze Orman
51PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
The Forbes Shahrukh-Salman Equation
Shahrukh Khan topped the Forbes India Celebrity List in terms of income
Salman Khan topped the Forbes India Celebrity List in terms of popularity
116.3 179.85 135.16 144.2
26.94 *Earnings (Rs in crores)
202.83
What do you get when you put together
two big-time entertainers, a world-
renowned magazine and a celebrity
list? You get an interesting equation.
The two leading Bollywood stars
may not share a sizzling off-screen ‘chemistry’ but both
Shahrukh and Salman have made it to the top of Forbes
India Celebrity 100 List, in a very interesting way. Both of
them top the list, but on two different parameters. While
Shahrukh Khan has made it to the number one spot in
the list in terms of celebrity earnings, the list proclaims
Salman Khan the most popular celebrity the country.
So, it’s actually a two-in-one list and there’s two ways you
could go through it, earnings –wise and popularity-wise.
As per details shown on the Forbes India website, the
period of consideration for both parameters is October 1,
2011 to September 30, 2012. The calculation of earnings
is based on independent estimates taken from multiple
sources – industry insiders including talent management
agencies, film and TV producers, publishers, music
industry professionals, sports consultants, advertising
agencies, brand marketers, celebrity managers and
other relevant experts. A lot of research also went into
the calculation of the other parameter of the list, fame.
The Forbes India team tracked media visibility of top
celebrities of the country across print, television and the
internet. They used Google to estimate online exposure,
Facebook fans and Twitter followers. The entire process
was verified by Ernst & Young, official tabulators of the
magazine.
52 PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Guard your Health with Vaastu
54
Vaastu Shree, Vaastu Visharad
Shri Naresh Singal,
Vaastu & Feng-Shui Consultant.
For any further queries on the
subject, readers can contact him
on mail@vaastunareshcom
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
Modern man is like a machine. He toils
from dawn to dark. This practice for
seeking comfort makes him restless.
The result is that more and more
medical insurance companies are
coming into existence. Medical insurance has become a
necessity for machine man. He isn’t sure when his doctor
would tell him that he is in the clutches of some serious
ailment.
Given the rising cost of treatment and medicines, it does
make sense to buy a suitable medical insurance policy.
At the same time, when we buy an insurance policy, we
are only preparing to deal with the monetary implications
of an injury or disease, in case something like that
happens. What if, by following certain Vaastu guidelines
to safeguard our living place, we could somehow reduce
the occurrence of injury or disease? Wouldn’t that be a
smarter thing to do?
Cosmos is made up of five basic elements i.e. - Earth,
Sky, Water, Fire and Air. Any imbalance in these elements
brings about a discomfort outside and within the human
body. We may not feel this immediately but the change in
the systems of the body makes us realize that something
is wrong. By following the principles of Vaastu laid down
by the ancient Indian scholars, we try to do away with
negative energy and mental agony, thereby achieving
mental peace. By implementing the Vaastu remedies,
numerous health problems have been mitigated.
Vaastu provides a set of principles for the general
layout, furniture placement and interior decor of the
built environment - including landscaping, gardens, car
parks, storage facilities etc. These principles produce a
balancing and harmonizing affect on the environment
and its inhabitants. Here are few basic rules that are
stated in the ancient books of Vaastu are discussed below
for ensuring good health.
• Never keep your head towards North while sleeping,
prefer keeping it towards South or East only, to achieve
peaceful and restful sleep for healthy life.
• Face, either towards North or East while working,
studying or negotiating with clients. It helps increase
sharp memory resulting in ability to take proper and faster
decisions and at right time.
• Avoid facing South or South-West while cooking,
eating or drinking. Your face should preferably be towards
East/West for better taste, digestion & healthy body.
Having door at the back while cooking may lead to back-
ache, pain in the legs, shoulders and even cervical.
• To have better concentration & devotion while
worshipping, your face should be towards East or West.
• Keep basil (Tulsi) in house to purify the air. Avoid
Cactus, Rubber plants, Milky plants and Bonsai plants in
the house as they add to your tension, illness and stunted
growth of the children.
• Construction of stairs, toilet or kitchen in North-East
corner of the property may lead to cancer and brain
related disorders. In such cases it has been reported that
it retards the growth of small children in the family.
• Never sit, work or sleep under a beam as it may cause
depression, headache or loss of memory.
• To avoid any health problems related to heart or
brain, prefer wooden beds without storage space and
avoid sleeping on metal beds.
• Any place that is constantly damp or smells of
dampness, even without any trace of the cause, is
considered to an area of negative energy. As per Vaastu
one should not stay in such structure.
• Is there any tree facing your main door or window?
This could result in poor health of family members. Place
a convex mirror on the outer wall that is facing the tree to
minimize its effect.
• To minimize disorders related to heart and nervous
system, avoid usage of the space below the staircase for
bathroom, toilet, pantry or even for closed store.
• The colour of the roof and the walls should never be
same as it leads to irritation and short temperament.
• Swimming pools or any other underground water
bodies should be constructed in North, East or North-East
of the plot. Having them in South-East may cause trouble
to male children or wife of the owner.
55PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
56
softcorner
With an estimated fortune of $600 million, Dubai-based entrepreneur PNC Menon plans to give half of his personal wealth to charity. Ranked Gulf Cooperation Council’s 21st richest Indian in a list published recently by Arabian Business, Menon began his professional career by setting up an interior decoration firm in the Sultanate of Oman in 1976. In 2006, Menon’s Bangalore-based firm Sobha Developers, where he holds the position of Chairman Emeritus, was listed in the Bombay Stock Exchange. In the same year, his firm established Sobha Heritage and Sobha Academy in 2006 to provide education and social welfare to around 2,500 families in two villages in India, Vadakkenchery and Kizhakkenchery.
PNC MenonFounder of Sobha Group of Companies, Age 64
PROPERTY & WEALTH VOL 2, ISSUE 07, MARCH 2013
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