january 2014 issue

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HARIOM TyAGIManaging Editor

ACHyUT NATH JHA

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ANJANI SHUkLA

Legal Editor

MAkRAND PRATAP SINGHCorrespondents

AMIT AGARWALRAJkUMAR CHAUDHARy

Sales & Marketing

SONIA kHANNAAJIT TyAGI

SUNIL SHARMA

Editorial director

MOHD. TARIq NAWABConsulting Editor

RAkESH PUROHITSyED ATIF RIzWAN

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CREaTiVES

art director

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6 lJanuary 2014OBSERVER DAWN

Opinion Latest ShoppingTrends Across AsiaPacific

Emerging markets are of-fering interesting invest-ment opportunities interms of shopping...

Briefing

Cover Story

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ReportSmart Cities CouncilTo Build Cities OfThe Future

Though the concept of a‘Smart City’ is new inIndia, SCC-I leveragingCSD’s expertise is well...

12SpecialStoryDecoding Prospectsof Celebrity Endorsement in Realty Sector

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In FocusIndia’s Real-Estate Outlook for 2014 2013 was one of much economic turbulence. High re-tail inflation, high interest rates and a continuous fallin the rupee value, have been slowing the overallgrowth and have continuously hindered...

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RetailRetailscape 2014These stores seem to be fairly brand agnostic whereeven the relatively unknown brands seem to performequally well. Of course, the bigger brands...

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7OBSERVER DAWNlJanuary 2014

Letter From the Editor

It's time to overcome cynicism

Cynicism loomed large on

account of failure of eco

system to stave off

difficulties which

stemmed from rising cost

of commodities,

misgovernance and all

round apathy.

Hariom Tyagi

Editor, Observer Dawn

@harityagi2003

@harityagi2003

@harityagi2003

@harityagi2003

Connect with Hariom Tyagi

It is but natural to look back to frame any agenda for today or tomorrow.The year by-gone tends to offer mirror to reflect both strong and weakpoints and accordingly, we move ahead with new resolution and deter-mination. While the last year is not so memorable for any historic mo-ments in the matters of economy and neither did it lead to any favourable

outcome we aspired. A major part of the year hogged the limelight for con-tinued bottlenecks which government and India Inc faced, with people show-ing simmering discontent on every front. Cynicism loomed large on accountof failure of eco system to stave off difficulties which stemmed from rising costof commodities, misgovernance and all round apathy.But crisis often leads to the process of churning, with clamour for governancethat is more horizontal, transparent, decentralised and allows for new politicaloff-shots to emerge. The most remarkable change over the last few monthshave been remarkable as we saw the overcoming of cynicism. And now thereis yearning to defeat the negativism and enter an era of doing what we cando best to revitalise and bolster our place.Last year, the real estate sector was mired in existing challenges such as de-clining sales, piles of unsold inventory and builders facing the heat on liquidity.These problems may continue in 2014 as high interest rates and cautious sen-timents are expected to underpin the largely unorganised sector. The onlypositive outlook springs from the fact that the sales, though slow, are not stag-nant.When we look at retrospectively, we are convinced that a radical transforma-tion of processes for making policies and implementing them is necessary tochange the limping trajectory of Indian industry. It’s heartening to see that onthe growth-propeller big ticket projects which are stuck, the apex court hasdirected the government to establish an environment regulator at the nationaland state levels by 31 March to oversee implementation of forest and envi-ronment policies. In past, the concerned ministry came under fire from indus-try for delaying projects by not granting them the requisite environmentalclearances. Once the regulator is in place, the environment ministry will nolonger appraise industrial projects. Also, the central government is in fast-trackmode to clear held up infrastructure and public investment projects acrossstates.Experts say that there's significant interest in the sector from domestic andforeign investors but the inflow of investment will depend on the comprehen-sive policy and regulatory framework necessary to address the complexitiesof real estate projects. Then, there is need for balancing the interests of usersand investors.It’s for everyone to recognize the role realty plays in country’s GDP, growthof other sectors and creating job opportunities. A business-friendly eco sys-tem, the much-needed infrastructure push and a bit of prioritizing will givea trajectory in its growth.Wish you all a happy and prosperous 2014!

Happy Reading!


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opInIon

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Latest ShoppingTrends Across Asia PacificLack of quality retail space in India’s top cities pose deterrent for new retailer entries.By Anshuman Magazine, Chairman & MD CBRE South Asia Pvt. Ltd.

Emerging markets are offering interesting investment op-portunities in terms of shopping center development, ac-cording to the latest Asia Pacific Retail Trends and RetailHotspots reports released by CBRE. The Asia Pacific marketin particular continued to see a steady flow of new retailer

openings in 2013, amid steady economic growth and generallypositive consumer sentiment.Southeast Asia, in particular, contin-ued to mature rapidly with the completion of new retail space andincreasingly sophisticated consumers, which spurred the arrival ofnew retailers from overseas.The top five countries of retailer origin,however, remained unchanged over last year. New retailers fromthe Americas remained the most active, with 71 new entries acrossAsia Pacific in 2013. Retailers from Italy (47), the United Kingdom(40), France (37) and Japan (24) completed the top five.

While Hanoi recorded the highest number of new entrants (30) of any city in Asia Pacific in 2013, Hong Kong (28) came a close second, followed by Beijing (27), Shanghai (26) andSingapore (25). In India, demand from international retailers in NewDelhi (16) remained more-or-less stable over last year, as moregroups sought space in prime shopping centers as opposed to high street shops. Despite the prevailing high rentals in the primeshopping locations of many established Asian cities, leasing de-mand for space in these prime spots remained strong throughoutthe year.

Not prohibitive rentals, but the limited availability of quality re-

tail space in core locations would seem to have continued to posea greater barrier to new retailer entry in a number of key emergingAsian markets—including New Delhi, Mumbai and Bangalore.De-mand from international retailers in Mumbai and New Delhi re-mained stable during the year, with interest from fast fashiongroups in particular remaining firm throughout 2013.Recent quar-ters also saw a number of well-established international mass mar-ket brands enter tier-II locations, partly because of the lack ofquality space options in tier-I markets.

Luxury and Business Fashion retailers entering Asia Pacific forthe first time, continued to opt for Hong Kong and Tokyo as the lo-cation for their first outlets. In comparison, groups already estab-lished in the region focused on expanding in the emerging citiesof China, India and Southeast Asia.

The outlook for the Asia Pacific economy remains relatively pos-itive. While domestic consumption is healthy in most parts of theregion, consumer sentiment too remains healthy, albeit clouded toa certain extent by larger global economic uncertainty. India willcontinue to see some retail activity, although the rate of overseasretailer entry could decelerate due to the complications surround-ing new legislation regarding foreign direct investment in multi-brand retail. All in all, global retailers are likely to continue focusingon the Delhi National Capital Region (NCR) as their main entry pointinto the Indian retail market, with several additional new openingsexpected in the coming months. n

Smart Cities CouncilTo Build Cities Of The Future

Though the concept of a ‘Smart City’ is new in India, SCC-I leveraging CSD’s ex-pertise is well on the path of creating smart cities.

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Top think tanks, businesses, public service providers and other in-stitutions across India convened at a vendor-neutral WorkshopForum, ‘Cities of the Future: Smart and Sustainable’ to deliberateon integrating ‘smart’ and ‘sustainable’ steps perhaps, for the firsttime in India, to address rapid and complex urbanization-induced

issues and create smart cities. The Workshop Forum inaugurated by Mr. Srini-vasachari, IAS, Principal Secretary, Urban Development, Government of Kar-nataka, marked the launch of Smart Cities Council – India, a collaborativeendeavor of Centre for Sustainable Development (CSD), a non-profit organi-zation and the Global Smart Cities Council (SCC).

Dr. M. Ramachandran, IAS, Former Secretary, Ministry of Urban De-

velopment, Government of India, delivered the keynote address. Mr.Shanker Annaswamy, Senior Advisor, India Enterprise, IBM India/SouthAsia shared the SCC perspectives on the relevance of smart cities in India.Mr. M. Laxminayarayana, IAS, Commissioner, Bruhat Bangalore Mahana-gar Palike (BBMP) elaborated on initiatives on waste management in Ban-galore, while Guest of Honor, Mr. Krishna Byre Gowda, Honorable Ministerfor Agriculture presided over the concluding session. Eminent heads ofprivate sector organizations such as Brigade Group, IBM, Microsoft, Prestige Group, Wipro, Xerox, and civic agencies such as BBMP, BESCOMand BWSSB also shared insights on their initiatives towards creating smarter cities.


Dr. A Ravindra, Chairman, CSD, under whose initiative SCC-I hasbeen launched, welcomed the gathering and explained thepurpose of the Workshop Forum. “There is no more urgent taskfacing India than fixing its cities. We need to mobilize all possi-ble resources - talent, technology and finance to improve thequality of life of our urban residents. CSD is happy to join handswith Smart Cities Council, USA, to learn from best practiceselsewhere in the world and design solutions suited to the In-dian context. I am confident this will lead to a truly local-globalpartnership.”

The dramatic growth of urban population and tremendouspressure on urban infrastructure and services also provides thethrust for the creation and growth of smart cities. Technologycan greatly improve the productivity, lifestyle and prosperityof people while green growth strategies can build environmen-tally-sustainable cities. Though the concept of a ‘Smart City’ isnew in India, SCC-I leveraging CSD’s expertise is well on thepath of creating smart cities with a pilot project in Devanahalli

and seeks support from potential diverse partners with expe-rience in deploying smart solutions.“The Smart Cities Council is truly excited about coming to Indiato establish its first Asia chapter and team with the Centre forSustainable Development (CSD) in this collaborative SmartCities Initiative. Together with our Council Partners, Advisorsand collaborating organizations, we aim to engage and impactIndian cities nationwide -- large and small -- helping themtransform themselves into more sustainable, livable and work-able places for their people. SCC-I will be focused on localizingour priorities and knowledge, while learning and mentoringbased upon the realities of Indian urban challenges, from tech-nology choice to government policies and citizen involvement.Our approach will be ‘vendor neutral’ with regard to our prod-ucts and engagements with city and government leaders; itwill also be city-client-focused, inclusive rather than exclusiveand collaborative in our outreach with others", said Jim Whit-taker, Executive Director, Smart Cities Council.

The dramatic growth of urban population and tremendous pressure onurban infrastructure and services alsoprovides the thrust for the creation andgrowth of smart cities. Technology cangreatly improve the productivity,lifestyle and prosperity of people whilegreen growth strategies can build envi-ronmentally-sustainable cities.

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Union Minister and Congress leader JyotiradityaScindia turned 44 on January 1, 2014 and hisbirthday was celebrated in his hometown andhis official residence in 27, Safdarjung Road,Delhi. Well-wishers, supporters and eminent

public figures met him and wished him on this occasion.A popular leader among the Young Turks, Scindia belongsto the famous royal family from Gwalior in Madhya Pradeshand has successfully brought out political and social legacyfor the benefit of the people. Re-elected to 15th Lok Sabha(3rd term), Scindia is Union Minister of State (Independent

Charge), Power. Even as politicians from the establishedparties are facing flak for their disconnect with people whothey represent to, Scindia is always accessible to his con-stituents. Those who have closely watched him grow aspolitician and mass leader describe him as a man of in-tegrity. Early in his forties, he has been recognised as achief ministerial candidate as and when the Congress re-turns to power in the state.

It’s an honour for us at Observer Dawn to celebrate this daywith you!

Scindia scion Jyotiraditya

Scindia turns 44

CREDAI Conclave Presents 'Real EstateOutlook For TheYear 2014'

The real estate’s biggest body CREDAI concluded the two day CREDAI Conclave themed on “Housing the game changer leading to double– digit GDP growth” in Delhi. Industry voices from across sectors such as parliamentarians, social activists and top notch real estatecaptains came together at the biggest platform of Real Estate – CREDAI Conclave.The main highlights at the conclave this year werethe urgency in setting up of a Real Estate Regulator and applauding the contribution of the sector to the GDP of our country. Afford-able housing was a much discussed topic at the conclave. Developers at the conclave agreed that though in the last five years, therehas been a lot of progress on the affordable housing front, a lot more needs to be done to give a boost to this segment of housing.Vikram Jain, Lead, Low-income housing practice at Monitor Deloitte, a management consulting firm, said there is a huge demandfor low income housing. “There is a demand for 15 million homes and the demand for these homes comes from buyers with an income

Opinions voiced at the Biggest Real Estate Conclave – CREDAI Conclave 2013.

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of Rs 10,000-25,000 per month,” he said. The solution to the demand for affordable housing is to build homes with clear title, provide water andelectricity, said Jain. “The idea is to build small flats of 229 sq ft flat in space, with no wastage of space, costing around Rs 8 lakh,” he said. LalitKumar Jain, Chairman, CREDAI, ruled that the real estate sector receives a step motherly treatment from the government. “The real estate sector’scontribution to GDP is 6.2% and it employs over 1 crore people. Yet, you have ignored the sector,” Jain said. Jain said there is a lot of frustrationamong real estate developers over the treatment meted out to the sector. “The infrastructure sector gets 10 year moratorium but if we don’t payour loan within 90 days, it goes into default. We try to do our work with transparency then why are we shunned by the government,” he said.

Rajnath Singh, BJP President, asked realestate developers to send a list of its demands to the party, so that they can beincluded in the BJP’s Lok Sabha electionmanifesto. “We will try and do our best forthe sector,” he said. Singh said the BJP believes housing sector, infrastructuresector and manufacturing sector should begiven importance.


Rajnath Singh, BJP President, askedreal estate developers to send a list ofits demands to the party, so that theycan be included in the BJP’s Lok Sabhaelection manifesto. “We will try and doour best for the sector,” he said. Singhsaid the BJP believes housing sector, in-frastructure sector and manufacturingsector should be given importance.“Manufacturing sector growth shouldhave been good. There is no dearth ofdemand in international market but weare not producing enough to export.The result is we are importing more andexporting less. This is the reason for in-

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crease in current account deficit, external debt and weak-ening rupee. We need a comprehensive thinking to solvethis problem,” said Singh adding that the party has formeda team to prepare a vision document.

Rajnath Singh recalled that when the NDA governmentwas in place, the government had focused on infrastruc-ture development and housing sector development. “Wereduced interest rate on housing loan. We also focused oninfrastructure development through national highwayprojects. Incidentally, I was the surface transport ministerduring NDA regime,” he said.

He further added that the NDA government had re-duced housing loan interest, which led to capital forma-tion, which in turn led to a boom in steel and cementindustry. Singh cited statistics to show the difference ingrowth between NDA and UPA regimes. According to data


from National Sample Survey Organisation, between2004-2010, there was employment generation to thetune of 27 lakh whereas between 1998-2004, employ-ment generation was around Rs 6 crore 70 lakh. “Wegenerated more employment because of our focus oninfrastructure development and real estate,” Singh said.

It was not just BJP, but Rajiv Shukla, Minister of Statefor Parliamentary Affairs and planning, Secretary, AllIndia Congress Committee, also asked real estate de-velopers to send a detailed report on the problems ail-ing the sector. Shukla asked CREDAI to create adelegation of developers and approach the planningcommission. “We will take your problems to the con-cerned ministries. Don’t worry about the upcomingelections. The government will work till the last day,” hesaid.

Shukla said that he was confident that if this sectoris helped, the country can again achieve GDP growthrate of 8-9%. “We are facing crisis of current accountdeficit, which had gone up to the tune of 80 billion dol-lars, which has now come down,” said Shukla. He as-

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sured CREDAI that RBI is doing its best to fix currentaccount deficit.” That can only be accomplishedwith the co-operation of real estate developers,since NRI’s are interested in buying property here,”he said.

Union Minister of Housing and Urban PovertyAlleviation, Dr Giriji Vyas, assured real estate devel-opers that the real estate regulatory bill will be suit-ably modified if necessary. Speaking at a real estateconclave organized by CREDAI in New Delhi, DrVyas said the industry should not have any fearsabout the real estate regulatory bill. “There is noreason for worrying about this. We will talk to youfirst on the real estate regulatory bill,” she said.

In what could be a relief for the real estate sec-tor, Dr Vyas agreed that the government will do arethink on multiple taxation of the real estate sec-tor. “We will think about relaxing Floor Space Index(FSI) norms as well and on relaxing loan facility tothe sector,” she said. n



real estate

Last few years have witnessed a superfluity of residen-tial projects in entire NCR. From these so many op-tions available in the entire region, Noida Extension(Greater Noida West) has emerged as an upcomingresidential hub with a promising future prospect and

better life style. Real estate market in Noida Extension is expe-riencing an upward trend. Unlike before, the buyers are nothesitating before investing their hard earned money in the up-coming properties of this area and there are many reasons be-hind this positive response.

Competitive PricesThanks to some cut throat competition current scenario is en-couraging for home buyers with different requirements andbudgets, and developers are offering some exclusive options.Here, the buyers can get some exclusive property deals thatcan be availed at affordable prices without compromising onthe facilities and other features.

Proper Planning Noida Extension is planned as a complete residential hubwhere one can get everything ranging from a necessity to aluxury. Noida Extension reflects proper planning when it comesto 120 m wide roads, 60 m sector roads, and large parks andthere will be shopping hubs and commercial districts being de-veloped by reputed developers. Apart from this, schools andother health facilities will also be easily accessible for the peo-ple staying at Noida Extension.

Connectivity Connectivity serves as a big factor in making any propertypleasing for the buyers. This factor even supports the state ofreal estate at Noida Extension. In terms of connectivity, this lo-cation gives an advantage to the property buyers. The proper-ties at this location will even ensure connectivity throughmetro as the proposed metro link will be closed to propertieslocated here.This location not just ensures better connectivity with the pro-posed metro but also with the significant locations like Noidaand Ghaziabad. Noida Extension falls very close to these loca-

tions and this makes the region easy for the buyers to head fora life style, which is more convenient. Noida and Great Noidahave high water level unlike Gurgaon where ground water isnot available. Noida has better accessibility to Delhi as com-pared to Gurgaon, which relies only on the Jaipur Highway.

Reality Brands Galore Noida Extension offers a wide range of projects by some wellreputed builders like Ajnara, Gaursons, Saviour, JM Housing,Patel, Nirala, Supertech, ABA Corp, and Mahagun to name afew. Most of these builders have a history of delivering highclass projects in recent past.Best Point of Investment As per the master plan 2031, Noida Extension will have all thata home buyer dream of while finalizing the deal and this actsas a top attraction for the investors as they are bound to getgood returns.n

Noida ExtensionA Complete Residential Hub

By Shaleen Singh

Shaleen Singh, Director, Goldmine Developers Pvt. Ltd.

Noida Extension is planned as a complete residential hub where one can get everything ranging from a necessity to a luxury.

Manali could not witness a better New Year bashthan this one. The last two days of 2013 saw ahuge gathering of youngsters coming in to cele-brate the welcoming of 2014. Morpheus Group,one of the major realty players of NCR had organ-

ized the complete event at Morpheus Valley resort which is anabode of serenity, located in Manali. It is a perfect picturesquelap of raison valley, away from the polluted hustle and bustle ofcity life. A part of Morpheus’s hospitality wing, this retreat offersthe charming grandeur of a panoramic mountain-scape.The event began with a welcoming of the guests, administra-tion, staff, performers and the police department, later con-cluded by a special welcome by Mr.Prithvi Raj Kasana, MD,Morpheus Group. The first day was completely dominated by

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MORPHEUS GROUPRocks Manali WithITS NEW YEAR BASH


Punjabi rapper and singer Jazzy B who made the crowd danceon his tunes. The New Year eve saw a show stopping perform-ance by the currently leading Bollywood singer Mika Singh. Thehuge gathering enjoyed Mika’s performance on his latest andhit songs like “Gandi baat” and “AgalBagal”. The event witnesseda massive gathering of around 5,000 people and the best partbeing that nothing could stop them from singing, dancing andenjoying, not even the weather which stood at 3 degrees belowthe freezing point. New Year eve turned out to be a platform forrain dance as it rained heavily on the day and the crowd rathergot more exited. In order to enjoy the chilly night, a bonfire wasdone at the event itself. The event was perfectly organised andmanaged as the two days were concluded with dinner and cock-tail. The event ended successfully and the crowd was over-whelmed. This event was proudly supported by the localadministration and the Himachal Pradesh tourism.Looking at the success of the party, Mr.Prithvi Raj Kasana, MD,Morpheus Group, “We could not believe that this event wouldbe loved and enjoyed so much. The crowd went berserk as evensuch harsh weather conditions could not prevent them to havea go. I thank everyone associated with this event for making thispossible. We are now deciding to hold events more frequentlyhere as the local crowd and administration is very supportive. Ialso take this opportunity to wish everyone a very Happy NewYear 2014 on behalf of the entire Morpheus Group. n

India’s Real-EstateOutlook for 2014

—By Mr. Sachin Sandhir, MD, RICS South Asia

2013 was one of much economic turbulence. High retail inflation, high interest rates and acontinuous fall in the rupee value, have been slowing the overall growth and have contin-uously hindered the investment sentiment in the market during the entire 2013.

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The recent decline in current account deficit (from4.9% of GDP during April to June to 1.2% of GDP inJuly-September period), slight rise in industrial andagricultural output have given marginal relief. But,it could just be a mild bounce from the current slack

in the economy.While there is fall in the current account deficit, inflation is

again above 10 per cent, as recorded in October. Wholesaleprice inflation (WPI) was at an eight-month high of 7 per centin October, while retail inflation crossed 10 per cent. High in-flation led by surge in vegetable prices has hit the domesticdemand in the country.

Moreover, to curb inflation, the Reserve Bank of India (RBI)has been consistently raising the repo rate since September.Some nationalized and private banks such as the State Bankof India and HDFC Bank followed and raised their lendingrates for retail borrowers, making the capital costlier. It is ex-pected that the RBI, in its next monetary policy review, willrevise the key policy rates to keep inflation under control.

The mega trend for the economy during the year 2013,however, was the currency fluctuations in the last six months.Between May and August 2013, the currency droppedsharply from Rs 53 to a dollar to Rs 68 per dollar – a net dropof 22%. This further raised the trade deficit – a measure ofoutflow of domestic currency (Indian rupee) to foreign mar-kets – leading to the weakening of country’s economy.

Amidst global economic uncertainty, fiscal consolidationand the prevailing local market conditions have affected in-vestor sentiments. According to industry estimates, privateequity investments in the country witnessed a drop of over65% for the quarter-ended September 2013. As per estimates,private equity firms invested around $1.3 billion across 75deals during the quarter as against $3.91 billion across 126transactions during the same period of previous year.

The real estate sectorOf all the growth oriented sectors, real estate drew a signifi-cant amount of the total pie of investments despite a fall inthe number of deals as compared to year 2012.

But growth in the real estate sector cannot happen in iso-lation. While investments have come down in the sector, itstill holds potential for giving healthy returns in future. As perindustry estimates, around $ 2 billion is parked with privateequity firms ready to be deployed in real estate, but fundswant to put in money in only those projects with strong fun-damentals. Factors such as lack of professionalism, high de-gree of fragmentation in the market, shortage of qualifiedprofessionals and a partial paralysis on the policy front haveled to a decline in investments.

On the policy front, two announcements – the Real EstateRegulation Bill 2013 and draft guidelines on SEBI (REITs) Reg-ulations 2013 have the potential to change the fate of the sec-tor. If implemented, these will not just bring greatertransparency in the sector but will also help boost invest-ments in the sector. However, their enactment as a law maytake time.

The overall economic climate, coupled with inflation andhigh interest rates, is keeping buyers at bay. If one is to believe

The year 2013 was a mixed bag of cheers andtears for the real estate industry as a whole.While the uncertainties about the impact of

the much talked about Real Estate Regulatory Bill 2013 and LandAcquisition Bill continued haunting the developers with fear ofstringent punishment for delays and other mandatory provisionswhich are beyond the control of developers. Good news of reso-

lution of Greater Noida (West)problem to a great extent andresumption of work there, weremusic to the ears of both the de-velopers and flat buyers. Depre-ciation of Rupee provided a goodopportunity to NRI/High Valuebuyers of property in prime loca-tions which improved the salefigures although the bottomlines remained sluggish due toincreasing cost of raw materials.We expect the Governmentagencies to peacefully settle is-sues such as of farmers of Noida/Greater Noida/Yamuna Express-way to improve law and ordersituation in the area to ensure

smooth implementation of projects. The long standing demandof real estate industry for the Central Government to grant it thestatus of ‘industry’ to avail project funds from authorizedsources, need to be addressed without further delay.

WHAT REAL ESTATE MAJORS Say

—MR. R.K ARORACMD Supertech Limited

There is growing evidencethat despite the fact inter-national investors, and do-mestic investors, seemed totarget commercial propertyat the beginning of the In-dian real estate boom, resi-dential property is nowmore in demand. There area number of reasons for thisincrease in demand for resi-dential property, many ele-ments of which are likely tocontinue for some time tocome.

—MR. ASHOK GUPTAMD, AJNARA INDIA LTD.


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the current trend in the economy, there is hope that year2014 would bring in some good news for the market. Whilethe market witnessed a drastic fall in sales across regions,property prices in some of the established markets droppedon account of an oversupply situation. However, in most re-gions, especially in emerging areas having ongoing projects,developers continued to hold on to their prices making somelocations unaffordable.

On the markets front, while the office space witnessed im-proved transactions through the first half of the year, retailsegment continued to face challenges such as supply ofquality spaces affecting overall absorption. The residentialdemand improved during 2013; however, developers con-tinued to struggle with unsold inventories and reduced cashflows for construction.

The housing prices are expected to move up marginally in2014. However, rising interest rates and inflation will deterthe new buyers from entering the market. Little improve-ment is expected ahead of the general elections but wary in-vestors are likely to wait for the outcome of the elections tillMay next year.

On policy and reformsYear 2013 saw some progress towards reforming the sector.While the long pending Real Estate Regulation Bill 2013 wastabled in the monsoon session of the Parliament and latersent to a standing committee for further suggestion, thepublication of the draft guidelines on SEBI (REITs) Regulation2013 paved way for a positive investment climate in thecountry.

In addition to these, there were some correctional meas-ures too. The Reserve Bank of India (RBI) asked banks to calloff the dubious 80:20 and 75:25 schemes, as the banking reg-ulator felt that such products increase the risk for both banksand borrowers especially if there is a dispute between thebuyer and the builder or the project is not delivered on time.The RBI advised banks to closely link home loan disbursalwith the stages of construction of a housing project. Themove puts a check on price escalation, as it will dissuade in-vestors or short-term buyers from investing in the otherwisepopular under-construction projects.

Outlook for 2014A quick look at some of the expectations from the year 2014:

Key policy ratesThe risk to overall economy because of the high retail infla-tion and revision in key policy rates will continue to remain.It is likely that the RBI will revise key policy rates. Further re-vision by 25 to 50 basis points can be expected, as inflationcontrol is the priority at this moment, even if the measurehinders growth in the short term.

Recently, the RBI revised the repo rate by 25 basis pointsto 7.75 per cent in its October monetary policy review. Therevision will help in reviving the economy in the long-run.

For the real estate, the upward revision in repo rate by theRBI is likely to increase pressure on real estate developers,

There is pent-up demand for a long term realestate development in India. The economy

is starting to improve again and infla-tion is set to fall significantlywhich should all ensure a steadylong-term progressive Indian realestate market. There may be upsand downs, there may be issuesoutside of the control of the In-dian authorities but the dynamicsrequired to expand the Indianresidential real estate sector, aswell as the commercial real estatesector, are certainly in place.

—MR. PRASHANT TIWARICMD, PRATEEK GROUP

The year 2013 saw fluctuating market condi-tions in the real estate sector. While the firsthalf saw the ripple effects of the economic slow-

down, the later part of the year have seen signs of improvement. De-spite the turbulence prevailing in the market, real estate sectorhowever showcased a sensible growth witnessing multiple launchesduring the year. For Ramprastha Group the year 2013 was a year of

achievement. The middle part of2013 saw the launch of our pre-mium residential project Primeraat Sector 37D in Gurgaon which re-ceived an excellent response. Goinga step forward in 2013 we alsolaunched independent plots withinour integrated township Ram-prastha City located at the DwarkaExpressway. As new beginningbrings new hopes, so the New Year2014 will also bring expectationand goals for the sector. We are al-ready witnessing better senti-ments and interests of the buyerstowards the market. Owing to thepolitical developments in the NewYear further it is expected thatmarket conditions will get better

and property prices will further increase. Incorporation of land andreal estate regulator bill, widening of ECB and grating infrastructurestatus to the sector will further improve the sector. As a veteran inthe real estate industry we at Ramprastha Group plan to launch moreintegrated township projects in the year 2014and focus towards delivery of projectslaunched previously.

— MR. NIKHIL JAINCEO, RAMPRASTHA GROUP

who are already struggling to raise funds for constructionamidst reduced lending from banks. From the consumers’ per-spective, this revision will also affect the sentiment, as retailloans will become costlier. In recent times, some banks have al-ready revised their lending rates.

Commercial real estateThe supply of commercial spaces has grown relatively fasterthan the demand in the past 10 months. Due to an oversupplysituation in certain key markets, the capital values of officespaces have bottomed out. Rents on the other hand have re-mained stable or flat. Sentiment of occupiers has been hit onaccount of deteriorating levels of growth in the economy, con-tinuous fall in the rupee value, high retail inflation and subse-quent rise in key policy rates.

But in the future, both rents and the capital values will con-tinue to hold up on account of these factors. If the situationcontinues to be as it is now, there could be a drop in transac-tions in the commercial segment in the new-year and vacancyrate, especially across the office sector will increase further.Going this way, it would take at least a year for sentiment to re-vive.

On the contrary, strong demand for quality space coupledwith limited supply within the retail segment, has supportedthe high street rents. The general decline of operating marginsof retailers, growing competition and poor sales due to a dropin people’s spend residing in the catchment area have led todrop in business sentiment.

Residential real estate: Residential real estate assets remainsought after among investors and buyers, especially thoseproperties which are mid-sized and priced reasonably, andoffer location advantage and good infrastructure. While thereis demand for affordable housing, premium properties toohave attracted some buyers in prime cities such as Bengaluru,NCR and Mumbai. However, most of the demand is in the Rs3,500-5,500 per sq ft segment.

However, going forward the supply situation will remain sub-dued due to the deferred completion of a number of new proj-ects and reduction in number of launches across both thecategories. Therefore, residential prices will witness marginalincrease in 2014. Supply levels are likely to improve in the sec-ond half of the year 2014.

Till then, the decline in number of launches will help prop-erty owners to firm up their rents and also help new sellers inthe resale market to demand more in capital value terms.

In the coming year, for the first six to eight months, growthmomentum may not be the same as it used to be during boomperiod between 2006 and 2008. However, economic indicatorssuggest that market is poised for growth in the second half ofthe year after the general elections last in May 2014. Buyers canbe cautiously optimistic of a healthy recovery in the real estatemarket, as existing conditions favour long term investmenthorizon. While there may not be any corrections, buyers canbargain for some discounts on the quoted rates in newlaunches. n

"The Indian and Chinese economies have per-formed extremely well over the last five years

or so, especially in light of the US mort-gage crisis which impacted theworldwide economy. There hasbeen a slowdown in economicgrowth of late which has perhapscaused many economists to rein intheir optimistic forecasts from justa few months ago. However, thelong-term dynamics for the Indianreal estate market are still there,the growing population, an expand-ing economy, increasing interna-tional investment as well as amiddle-class which continues togrow even during these challeng-ing economictimes."

—MR. KUSHAGR ANSALDIRECTOR, ANSAL HOUSING

While the Indian economy isexpected to grow by 5% to-wards the end of 2013/14this is well down on theboom times of recent years.Indeed the Reserve Bank ofIndia is forecasting that in-flation will end 2014 around5.3%, which does seemfairly high, but is certainly amajor improvement on thecurrent level of 6.5%. As aconsequence financial insti-tutions are now limitingready finance for the real estate sector although interestinglythis has opened up other options.

—MR. SUSHANT MUTTREJAMD, COSMIC GROUP

It is perhaps no surprise tolearn that both internationaland domestic investors are nowtargeting partially completeddevelopments which only re-quire additional finance to getthem over the finishing line. So,taking account of the lack ofnew developments and the rela-tively small number of partiallyfinished developments this willlikely help to maintain real es-tate prices in the short tomedium term.—MR. DEEPAK KAPOOR

DIRECTOR, GULSHAN HOMZ PVT. LTD.


In the first half of the yearabsorption was weak as thebuyers and investors werelow on confidence andadopted a wait and see ap-proach. However the mid-dle income segment issupported by real demandwhich is underwriting byIndia’s long term growstory; that’s is a young andgrowing population, urban-ization, growth in earningsand easier availability ofmortgage finance. This pre-sented an excellent buying opportunity as people realized thatthe cost of housing must increase over time as the components;land and construction cost are not getting any cheaper. In thesecond half confidence has returning and the active politicaldebate around the state elections is giving hope for a bettergovernance and a return to high growth rates. Absorption isnow picking up and we expect this trend to accelerate in 2014.SARE Homes continue to serve the aspiring middle income seg-ment; deliver its product on time and launching several newprojects namely – Club Terraces in Gurgaon, Shreyas Villas inChennai GST and Springview Heights II in Ghaziabad. We have apan India presence, approximately 38.3 million sq.ft. of devel-opable area and have sold over 5,500 homes.

MR. DAVID WALKER, EXECUTIVEDIRECTOR, SARE HOMES

Real estate is one such sectorwhich is completely driven bymarket sentiments. In last 6-7months, demand in the markethas revived. Industry also sawsome new launches. Govern-ment agencies and authoritiesalso came out with some favor-able steps like the RegulatoryBill and REITs which has furtherstrengthened sentiments.Going forward, the trend is ex-pected to continue for another4-5 months. However, it will beinteresting to see how marketreacts post general elections. Though, I am confident that with thekind of reforms proposed by Union Government, real estate sectoris going to witness fairly transparent and shiny days in the year2014 with many new launches in affordable and mid premium seg-ments in areas like Greater Noida, Sohna Road New Faridabad andManesar, Dharuhera. Tier II and III cities like Chandigarh, Lucknowand Dehradun will also experience a surge in demand with numberof mid-income level families expected to grow by almost 20-25% onyearly basis and these cities enjoy a very robust advantage overtheir peers due to their location and infrastructural developments.Commercial space will also witness a boom with the expansion ofDelhi Metro in NCR. Overall the market is expected to see an up-trend in terms of demand and supply.

MR. PRADEEP JAIN, CHAIRMAN, PARSVNATH DEVELOPERS

The year 2013 was an eventful year for Indian Real estate, with introduction of Land acquisition, Rehabilitationand resettlement (LARR) Bill was introduced in the parliament and considering REIT funding as a major break-through for developers as most of their projects were stalled due to liquidity crunch. On the home buyers’ side,the year can be coined as a lackluster year with high property prices and homeloan interest rates that kept the buyers awaiting on the bench. Inspite of that

the most tangible benefits of economic improvements on the Indian real estate space has beenseen in the second half of 2013, with a growth of 4.4 % YoY further contributed around 6 % toour GDP in contrast to the major contributors to the national economy, showing signs of indica-tion for economic revival in the coming year. With the new year knocking at our doors, comesnew set of aspirations and hope, it is important to gauge the mood of home buyers in terms oftheir desire, aspirations and fiscal policy monitored by the apex bank and the tax reforms im-posed by the finance ministry, there are still headwinds to growth trajectory in the form ofgrowing inflation, depreciation of rupee, international trade policy pertaining to investmentuncertainty, budget reforms and the upcoming 2014 general elections. Higher inflation againstlow economic growth rate has been a quandary for policymakers. It is expected that the specu-lators and investors who have been riding the property market since a long time will make wayfor end users in coming year. Home buyers would want to buy property to meet the growingfamily requirements and for long term investment. According to industry source the year 2014may experience a positive shift from the earlier year and will bring in the much required stabil-ity in the property market. Businesses are likely to show greater confidence in terms of invest-ing in their expansion plans. This would result in increased office space absorption. Overall, it is expected better growth in rentaland capital values in 2014 as against the current year.

MR. NEERAJ GULATIMANAGING DIRECTOR

ASSOTECH REALTY PVT LTD

In focus


This year had been a mixed bag forSatya Group, given the market fluc-tuations. The dollar movement andthe diving of rupee coupled withRBI’s measure to hike repo rate hadits bearing on the realty sector. Thehike in repo rate made housingloans expensive, impacting the sec-tor. However, the strengthening ofdollar witnessed NRI’s inclinationtowards buying properties in India.Satya Group pace was aligned withthe market movement. In the firsthalf of the year, things were mov-ing slow due to the above mentioned factors. But it picked up pace dur-ing the second half with the onset of festival season when people feelfind it auspicious to invest in property. This year, we launched a commer-cial project Element One and received good response towards our ongo-ing residential project The Hermitage. Next year we are planning twomore launches. While one would be an integrated commercial complex,another would be premium group housing project. Both the projectswould come up in Gurgaon.

MR MANISH AGARWALMD,. SATYA DEVELOPERS

It has been a roller coasterride for the Real Estate sec-tor this year. The first halfof 2013 saw demand supplymismatch due to economicslowdown but the secondhalf witnessed revival senti-ment and demand for lux-ury and affordablesegment picked up towardsthe end. Even though weexpect prices to go up in thecoming year, however thedemand for both these seg-ments will be on a rise in 2014 as well. M3M deal with strad-dling ultra-luxury and premium residential complexes andhave commercial and hospitality projects. We have launchedmany projects namely- Golfestate, Merlin, Polo Suites, Escala,Cosmopolitan, Urbana and Woodshire. M3M continues to havethe projects on full swing construction setting new trends inthe realty sector.

MR. PANKAJ BANSAL, DIRECTOR OF M3M INDIA

The overall economic sce-nario in the country will im-prove in 2014. As per AsianDevelopment Bank coun-try’s GDP is expected in-crease to 5.7% frompresent 4.7%. With inflationand CAD in control, the in-terest rates are expected tocome down in 2014,spurring real estate de-mand. Delhi NCR will con-tinue to be the largest realestate market in India withalmost 40% share in newresidential launches. Infrastructure initiative like extension ofDelhi metro in Noida- Greater Noida and completion of DwarkaExpressway will further fuel real estate growth in the region.

MR. P SAHELVICE CHAIRMANLOTUS GREENS

While the India’s grippingurbanization growth storyhas been fascinating globalinvestors so far, as underly-ing truth graduallyemerged in 2013 – eco-nomic growth, the con-sumption story andproperty prices may not risesubstantially, and therecould be intermittent hur-dles or growth risks. Thepresently cautious marketsentiment is likely to con-tinue, as headwinds togrowth will prevail at least until the first half of 2014. How-ever, the second half is likely to witness gradual revival in ab-sorption. Real Estate capital values will increase in a subduedrange of 10-12% year on year pan-India for the whole year.

VIKAS GUPTAJMD

EARTH GROUP OF COMPANIES


36 lJanuary 2014

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OBSERVER DAWN

Raising The BaR, BRinging in QualiTy PRojecTs

Customers and end-users also help the Group tobuild the brand that will make it to scale intodizzying heights in future.


Ever since its inception, Colours Delight Group hasbeen able to mark an impression in the minds ofcustomers and all those who are related to real es-tate development in India. Quality is the key thatdrives the Group towards excellence and the Com-pany believes that the only way to reach to the top

is to constantly deliver the best. It has successfully venturedinto several types of services like real estate, hospitality, re-sorts, hotels, education, electrical, roads and high-ways, ad-vertisement, mining and many more. The Group intends togive them the best everything, irrespective of whatever theychoose from its wide range of offerings. Excellence in the re-spective venture is what the Company aims and aspires andit has been successful in doing that with quality as the moti-vating factor. One needs to gauge the inherent meaning inthe famous adage which says,” The proof of the pudding is inthe eating.” The Group’s customer-centric approach is well ap-preciated and that is one aspiring factor that motivates it towork harder and harder. Customers and end-users also helpthe Group to build the brand that will make it to scale intodizzying heights in future.

Projects with Brand EquityThe Colours Delight Group is committed to creating businesspremises, residences, buildings and infrastructures that areknown for their quality, distinct in design and elegantlycrafted. The Group is focused in its quest to provide the bestto customers. It is committed to delivering the expected qual-ity at the promised time. For the last 20 years in Real Estate, ithas distinction of handling more than 50 Residential and com-mercial Projects. The company’s sharp focus is on customerneeds budgets and commitment to excellent customers’ serv-ice and leadership. The company and its associates have manydeveloping projects along with brand equity and value addi-

Early in his forties, Mr. Devender Nagpal, CMD of Colours Delight Group andpromoter of M/s Merion Builders Private Limited, is a Graduate from KGKCollege, Moradabad, Uttar Pradesh, in the field of Commerce. With his di-versified experience and leadership quality, he has excelled in the field ofreal estate and construction. Mr. Nagpal has been associated with variouscompanies and has been a part of multiple successful ventures pertainingto the field of real estate and construction. He is also associated with M/sVaruna Finance (P) Ltd. as an MD with a current project of residential unitsat Merion Residency phase-1 Crossing Republic, Ghaziabad.

Mr. Nagpal’s another venture is with M/s Skytech Construction PrivateLimited where multiple successful projects have been undertaken and com-pleted, one of which being Magadh Residency at Sector – 3, Vaishali, Ghazi-abad where total of 100 residential and commercial units are successfulcompleted. And two other gigantic projects are under progress with nearly744 residential units and 22 commercial shops being undertaken at ProjectMatrott at Sector–76. Noida, and there are multistoried residential unitsat Merion Residency Phase - II at Crossing Republic, Ghaziabad. The turnoverof all these projects is over Rs.500 crores. His Another Venture with M/sSkytech Estates Private Limited is Merion Sky Mall which has been success-fully undertaken a marvelous project at Rohtak including Complexes, StoreyBuildings and Cineplex with a turnover of approx Rs. 100 crores. Apart ofbeing associated with various real estate and construction ventures, he isalso running successful food chain of Bikaner at Gajraula in Shree Sidhiv-inayak Enterprises. Colours Delight Magnum, which caters to business activities for outdoor advertising in Delhi-NCR and Airports,was alsolaunched recently.

Mr. Devender Nagpal plays an integral part in the success of three moreupcoming projects. Colours Avenue is being launched by Jatasya PromotersPvt. Ltd. In Sector-10,Noida Extension with approx. 560 residential apart-ments and estimated project worth of Rs. 300 cr. Colours County by MerionBuilders Pvt. Ltd. in Wave City,NH-24 Sector-6 comprises approx. 950 resi-dential apartments and estimated project worth of approx. Rs. 450 Cr. MusicCounty is promoted by Colours Delight Group and Palm Infra Properties Pvt.Ltd. in Lucknow with Approx 700 residential apartments and estimated project worth of approx.Rs. 500 Cr.

Mr. Devender Nagpal

38 lJanuary 2014

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OBSERVER DAWN

PICTURE OF MUSIC COUNTY, LUCKNOW

tion all through these projects. The company is managed byhighly qualified professionals who are fully engrossed to en-sure that the company maintains its high standards in qualityconstruction. The Company has always strived hard to keepits commitments and thus enjoys an extremely resonant rep-utation in the industry. Today, the company enjoys a strongpresence in India and has made its position as one of thelargest companies in the Real Estate Industry with variousprojects in the basket.

There are several factors which give it at vantage points.While others are looking for a short-cut route to establish,Colours Delight moves with a missionary zeal. It aims toachieve standards of excellence with a focus on quality, aes-thetics and customer satisfaction. It tries to reposition it as aneminent realtor and longs to provide high quality, safe and in-novative construction services in Design, Engineering, andConstruction with overall Project Management. Within a briefspan, the group could achieve prominence in developing,adopting and assimilating. Experts regularly appreciate thegroup as it works on to cultivate high standards of ethics andquality for a strong corporate identity and brand equity.To cre-ate an environment-friendly habitat, the group has decidedto help enrich the quality of life of the community and pre-serve ecological balance and heritage through services pro-vided with a strong environmental conscience. Last but notleast, Colours Delight verily understands the value of moneyand is committed to provide prompt quality services.

Broad Sectoral PresenceREAL ESTATEKeeping pace with the growing Indian urbanization, theGroup helps in the development of economy by providing ex-cellent infrastructure and accommodation facilities to thoselooking for a secured living space. Holding years of experi-ence, the group has successfully spread its roots to the majorstates and cities of the country. The company holds a vast ex-perience in developing buildings and infrastructure, by differ-entiating its working through excellence and perfection. Its



Mrs. Anshu Nagpal Director, Colours Delight Group

lJanuary 2014OBSERVER DAWN

ability to offer personalized services and revolutionary solutions hasrecently earned the group much recognition in the market. Today,it stands out in the field of real estate development by innovatingnew and improved concepts and achieve highest levels of qualityand client satisfaction.

Roads and High-waysThe development of a nation depends half upon its pathways, asthese help to initiate the movement of mind, ideas, thoughts, andservices in physical form. Transportation is like a lifeline to the na-tion’s building which has proved to be a boon in the field of growthand development of the country in all sphere, and goes hands inhand with the well developed pathways in a country.

With this approach of strengthening the country’s infrastructurebase, Colours Delight adds value to the environment by construct-ing roads and highways, which allows human resource to reap max-imum benefits out of trade, businesses etc. Armed with team ofexperts, the Group is committed to construct and maintain roadsand highways to give better connectivity between major cities toevery remote area of the states. The company’s USP of completingthe project work within stipulated time frame with best construc-tion results gives it the strength to stand tall amongst the ‘Big Play-ers’ of the real esate development Industry.

HospitalityWhen it comes to hospitality, luxury without comfort is meaning-less. With innovative design, excellent architecture and eco-friendlytechnology, the Group’s commercial real estate or hotels/resorts,offer the clients the luxury and grandeur they are looking for. Here,hospitality gets a new definition and a new look and everyone willsurely enjoy every bit of it. When it comes to serve the guests, onewill find it at the best, with a mission to build a new India wherecomfort marries luxury and indulgence.

EducationEducation is considered to be an indispensible part of growth for acountry. Today, a global standard of education is mandatory thatprovides proper international exposure to the students to competethe current demand of society. The Group appreciates this paradigmshift in the system of educating youngsters and have taken fruitfulinitiative to be one of the pioneers in patronizing internal standardof education for the aspiring students. The plan is to build severalprimary as well as secondary schools, colleges, and institutes thatprovide top class education following international standards. Thiswill enable the students to compete with students from all parts ofthe globe and come up with positive results. Experience a new wayof learning and feel the difference. Get exposed to a new world ofeducation that meets the global standard with unique ways of at-taining knowledge. The Group intends to create a smooth platformof learning for all students of the country and provides them withopportunities that will take them to a world class level.

ElectricalsEnergy has always been the most important ingredient for overallgrowth of a country. It contributes a lot for the development ofeconomy as well as mankind. Today, India is in need of a hugeamount of energy to meet the increasing demand of households aswell as industries. Lots of international companies have investedhuge amount of money here and this is good news for the rise and

development of the country. The Group intends to be one of theleaders in manufacturing transformers, both indoor and outdoor,and become a top brand as far as electrical equipments are con-cerned. The company has ventured in almost all types of energy pro-duction which is renewable, as well as eco friendly. Thousands acresof lands have been purchased to start power projects which will bebeneficial for the country in the long run. Together, it is poised tobuild a new country with new hopes and aspirations.

Projects at a GlanceCompleted Projects1. MAGADH RESIDENCY at Sector- 3 Vaishali, Ghaziabad.2. MERION RESIDENCY PHASE-1 at Crossing Republic,

NH -24, Ghaziabad.3. MERION SKY MALL at ROHTAK 4. SKYTECH AMRAPALI VAISHALI at Vaishali, Ghaziabad.

Ongoing Projects

1. MERION RESIDENCY PHASE-2 at Crossing Republic, NH -24, Ghaziabad.2. MATROTT at Sector-76 Noida.3. COLOURS AVENUE At Sector 10 Greater Noida West (Noida Extension)

upcoming Projects

1. COLOURS COUNTY At Wave City N.H. 24 Ghaziabad.2. MUSIC COUNTY At LUCKNOW

Mrs. Anshu Nagpal, Director of the Group and promoter of M/sMerion Builders Private Limited, has completed her Bachelors inComputers Application(BCA) . Mrs. Nagpal has a vast experienceand association with numerous corporates in the field of real estateand construction relating to marketing, promotional work and im-mensely proficient with interior decoration work.

Mrs. Nagpal is also associated with M/s Varuna Finance (P) Ltd.as a director with a current project of residential units at MerionResidency Phase-1 at Crossing Republic, Ghaziabad, which is inprocess, with a turnover of approximately Rs. 30 Crores. Along withMr. Devender Nagpal, she has been immensely and equally con-tributing to bring out projects like Magadh Residency, Matrott,Merion Residency and Merion Sky Mall. With the same vigour andintensity, Mrs. Nagpal is playing a key role all theme-based projectslike Colours Avenue, Colours County and Music County. She has be-come a part of a number of government contracts with state andlocal authorities, providing her prolific and exemplary work in thefield of construction and interior decoration work.

40

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Mrs. Anshu Nagpal

42 lJanuary 2014

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OBSERVER DAWN

It has been several years since you started your entre-preneurship at real estate and construction industry.How has the journey been this far and what steps haveyou taken to propel the business?After my father’s death more than three decades ago, I had totake the mettle and rise to the occasion to take forward hislegacy and business interests. Though it was an uphill task, Ibegan to get involved in the business activities. Today, we havediversified in the field of mining, education, power, liquor andreal estate.

How do you look at the real estate and construction sce-nario in Noida and Delhi-NCR?Presently, it is facing a slow down but in coming months, realestate and construction activities will get accelerated. Ups anddowns are the part of growth cycle and this industry is no ex-ception

How do you think new year will be for growth and ex-pansion of Colours Delight Group? What are your plansfor the year 2014?After consolidating company’s presence in Uttar Pradesh inNoida, Delhi-NCR and Haryana, we are posed to sustain ourgrowth in pan-India. On 26th January, we will be launchingColour County in Ghaziabad. Already, we have got overwhelm-ing response for Music County in Lucknow. Both are theme-base projects and being built according to dreams andaspirations of our customers.

What impact do you expect from the passage of theLand Acquisition Bill?

It will really impact the real estate. However, for landownersand farmers, the Bill may be beneficial. Personally, I wish thatthe whole process of land acquisition should be simplified.Builders should directly purchase land from farmers. Also thereshould be a time framework for the land possession (say amonth) so that builders could move as per their planning. Itwill also reduce the delay in project’s execution.

What more can we expect from your company over thenext six to 12 months in terms of scheme launches, giventhe bumpy road ahead for the economy and the mar-kets?We have a slew of projects which are in the stage of completionand possession. In Magadh Vaishali in sector-3 ,Merion Phase-I in Crossing Republik and Merion Skymall, possession hasbeen almost done. Works are on war footing in Colours Av-enue in sector-10, Noida Extension and Matrott in sector-76,Noida Extension will be completed on time. Recently, ourGroup has launched a new company, Colours Delight Magnumwhich caters to business activities for outdoor advertising inDelhi-NCR and Airports. On the fund mobilization for the proj-ects, we are little worried as the fundamentals of our companyare strong and our finance department is well equipped tohandle it. Those who heavily depend on banking suffer most.Granted that support from banking is not forth coming as wasthe case few years back and the available funds come withhigh interest rates, forcing developers to suffer. It’s high time,steps are taken to make real estate business-friendly.

Besides backing from your associations with some suc-cessful projects, where do you think your strengths lie?Have you reviewed or developed a strategic plan to ad-dress these issues?Our vision is to create a good construction with a map andmandate which will differentiate us from others. Innovativetechnology and landmark projects which we have initiated willset a new benchmark in Indian realty.


our unmatched commitmentto customer satisfaction isthe Mantra of colours Delight’s growth

—Mr. Devender Nagpal, CMD, Colours Delight Group


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What are the three things that your company/groupneed to be addressed on a war footing?People who buy or invest in property expect a lot and as a de-veloper we need to figure out how best we can fulfill their ex-pectations. We promise to deliver projects as our commitmentto provide a great living is never compromised.

How did you and your group excel in both residentialand commercial segment of Real Estate?Like our record in diversified trade, we excelled in real estatebecause we take decision in tandem with people’s expecta-tions. We always do due diligence and try to fulfill their de-mand even if it means cutting the margins of profitability.

Despite your success in business, people recognize youfor your stint in politics, as MLA and MP. Balancing be-tween people’s expectation and your industry profile is,needless to say, an uphill task. How do you manage this?Whatever I am today is on account of support from the peopleat large. I don’t have the political background in the form of

legacy. None before me was in politics. As far as I am con-cerned, I have been politically active since my student days. Iwill continue to remain active in politics but may not contestthis time around. After all, I can serve my constituency and peo-ple through my involvement in various social services. There isa memorial trust, Shri Ramdas Nagpal Trust, which has beenserving the people for the last 25 years. Trust is financed by ourearnings through business and it is dependent on any govern-ment aid.My stint with political journey goes back to more than adecade when I was elected for the District Board Member andfrom them I became MLA, Co-operative Bank’s Chairman,Moradabad and Lok Sabha member from Amroha, UttarPradesh. It is due to people’s support that a Punjabi could winwith a relatively record margin (by more than one lakh votes)in farmers-dominated area. Basically, people vote for candidatewho works for them irrespective of caste, creed or religious af-filiation. Despite the growing business activities, I make it sureto sit weekly in my constituency for redressal of their demandsand grievances.

This couldn’t have been possible without family’s sup-port.After my father’s demise, my mother, Smt. Shantidevi Nagpalalways guides me in my social and political activities. My wife,Smt. Anshu Nagpal, director of our company, helps me in theever-growing business and social activities. A mother of twogrowing children, Sameer and Ashley Nagpal, she fine tunesher role also as MDs of several companies. She is also Chairper-son, Shri Ram College of Education, Gajraula. Credit goes toAnshu for carrying both role of bringing up kids and contribut-ing to our business.

Your new year message to your supporter and real es-tate fraternity.We wish all great success and hope our own industry will growthe way we desire. There should be harmony among all thecastes and classes and they manage to fulfill dreams in the year 2014.

We have a slew of projects which arein the stage of completion and pos-session. In Magadh Vaishali in sector-3 ,Merion Phase-I in CrossingRepublik and Merion Skymall, pos-session has been almost done. Worksare on war footing in Colours Avenuein sector-10, Noida Extension and Ma-trott in sector-76, Noida Extensionwill be completed on time.




Whatever I am today is on account of support from the people at large. I don’thave the political background in the formof legacy. None before me was in politics.As far as I am concerned, I have been po-litically active since my student days. Iwill continue to remain active in politicsbut may not contest this time around.


n By Dr. Meher Fatima Hussain

Ace Vision, a national level organization engaged ingenerating knowledge on subjects of historicalsalience and promoting activities in realm of aca-demics, culture and minorities studies, organisedtwo days national seminar on the topic ‘Role of Urdu

Literature in India’s Struggle for Independence’. The seminar washeld on 30 November & 1 December 2013 at Nehru MemorialMuseum & Library, Teen Murti House, New Delhi with the assis-tance of Ministry of Culture, Government of India and IndianCouncil of Historical Research, Ministry of HRD, Government ofIndia.

Ace Vision in the past has organized programmes on aca-demic and cultural themes like celebrating 60th anniversary of

India’s republic, birth anniversary of Bhagat Singh along withholding national seminars on Rabindranath Tagore, Ale AhmadSuroor, Saadat Hasan Manto & Hayatullah Ansari. The organiza-tion has generated some publications as well. Books on Ra-bindranath Tagore and Ale Ahmad Suroor, both outcomes ofprevious seminars by Ace Vision were released by PadmaBhushan recipient Prof. Gopichand Narang on 8 December2012 at Sahitya Akademi during the seminar on Saadat HasanManto, also organized by Ace Vision.

The present two days seminar on Role of Urdu Literature inIndia’s Struggle for Independence witnessed gathering of schol-ars, experts, students and participants from different regionsand universities. The speakers discussed on the seminal role ofUrdu literature in achieving the independence of India. Book ti-

Role of Urdu Literature in India’s Struggle for Independence

The two day seminar witnessed enthusiastic participation by students, scholars and mediapersons. New horizons on the subject were opened up as speakers enriched the subject withtheir studies and explorations. This was a step towards achieving larger understanding on

role of Urdu literature in India’s struggle for independence, a subject that acquires a unique dimen-sion in the history of India.

semInar


tled Hayatullah Ansari: Shakhsiyat aur Karname edited by Dr. Saj-jad Akhtar was released by Prof. Syed Shahid Mahdi during theseminar. The book is an outcome of papers presented in an ear-lier seminar on Contributions of Hayatullah Ansari organized byAce Vision with assistance of National Council for Promotion ofUrdu Language and Indian Council of Historical Research, Min-istry of HRD, Government of India on 9 December 2012 atGhalib Academy, New Delhi.

On the first day of seminar on 30 November 2013, Dr. MeherFatima Hussain, President, Ace Vision & Assistant Professor, Dr.K R Narayanan Centre for Dalit & Minorities Studies, Jamia MilliaIslamia welcomed the speakers and the participants and deliv-ered the theme introduction of the seminar. She highlightedthe fact that the topic of the seminar ‘Role of Urdu Literature inIndia’s Struggle for Independence’ is identified to academicallyengage with a unique dimension of freedom struggle of Indiaand the role Urdu literature has played in winning independ-ence for the country. The inaugural session was chaired by Prof.Sadiqur Rahman Kidwai, Secretary, Ghalib Institute & RetiredProfessor, Jawaharlal Nehru University. Syed Shahid Mahdi For-mer Vice President ICCR & Former Vice Chancellor, Jamia MilliaIslamia graced the occasion as the Chief Guest. Prof. AbulKalam Qasmi, Department of Urdu, Aligarh Muslim Universitywas the Guest of Honour. In the key note address delivered byProf. M. Shafey Kidwai, Professor and Chairman, Department ofMass Communication, Aligarh Muslim University, he dwelt atlength on role of Urdu journalism to the cause of freedom strug-gle and listed names of Urdu newspapers like Dehli Urdu Akhbar,Sadiqul Akhbar, Tilism-e-Lucknow, Seher-e-Samri, Kohinoor,Akhbar Murtazai, Desi Akhbar, Habibul Akhbar and UmdatulAkhbar that were active in generating public opinion for free-dom sake. Mrs. Tarannum Riyaz, who is Senior Fellow, Ministryof Culture, noted writer and poetess gave a moving poetic ren-dition on the theme of the seminar. The vote of thanks was de-livered by Dr. Akhlaque Ahan, Assistant Professor, Persian,Jawaharlal Nehru University and Dr. Shagufta Yasmin, Senior

Fellow, Ministry of Culture conducted the programme.The first academic session was chaired by Prof. Rizwan

Qaiser, Director, Centre for the Study of Comparative Religion& Civilizations, Jamia Millia Islamia & Professor, Dept. of Historyand Culture in the same university. Prof. S.M Azizuddin Hussain,Director, Rampur Raza Library & Professor, Dept. of History andCulture, Jamia Millia Islamia spoke on Sir Syed Ahmad Khan andBaghawat-e-Hind: A Source on Freedom Movement in Urdu Lan-guage. Publications from Rampur Raza Library were also show-cased during the seminar. Dr. Parwez Nazir, Assistant Professor,Centre of Advanced Study, Department of History, Aligarh Mus-lim University spoke on Urdu Journalism and Anti-colonial Strug-gle in India: 1823-1900. Dr. Nazir emphasized that Urdujournalism not only evoked nationalist sentiments againstBritish colonial policies but also dwelt on progressive ideas andnews on subjects of public interests that educated readers torespond with greater maturity on issues of nationalist concerns.The papers also highlighted regressive and humiliating tradi-tions followed by British with regard to the Indians. The ‘shoesand socks’ controversy forced the British authorities to relookinto their policies. Dr. Hassan Imam, Assistant Professor, Centreof Advanced Study, Department of History, Aligarh Muslim Uni-versity presented his paper on Bhagat Singh in the ProscribedUrdu Literature and said that newspapers highlighting atrociouspolicies of the British were banned yet Urdu literature contin-ued to generate information against colonial rulers. An Urdupamphlet Watan ke Ashiq Ka Begunah Khun highlighted the im-pending martyrdom of Bhagat Singh. Mr. Shabi Ahmad FormerDeputy Director, ICHR & Advisor, Maulana Azad EducationFoundation in his paper Urdu Newspapers as a Source Materialfor Writing History of Indian Freedom Struggle discussed criticallyrole of newspapers in arousing nationalist sentiments. He saidthat the tone and tenor of Urdu newspaper initially full of com-plaints against the government became sharply critical ofBritish policies in the post 1857 phase.

The second academic session was chaired by Prof. Sadiq for-


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mer Head of Department, Department ofUrdu, University of Delhi. Dr. Rashid AnwarRashid, Assistant Professor, Department ofUrdu, Aligarh Muslim University wasspeaker on topic 1857 Aur Urdu Shairi. Dr.Mushtaq Sadaf, Programme Officer, SahityaAkademi presented his paper on The Role ofUrdu Newspapers in India's Struggle for Inde-pendence. Dr. Maula Bakhsh, Head of De-partment, Department of Urdu, DayalSingh College spoke on Hali Aur TahreekeAzadi raised the point that Hali defined theconcept of nation in one of his couplets forthe first time in the history of India. Dr.Kausar Mazhari, Department of Urdu, JamiaMillia Islamia talked on Tehreek Azadi aurUrdu Ghazal. Dr. Akhlaque Ahan, AssistantProfessor, Centre of Persian and CentralAsian Studies, School of Language, Litera-ture and Culture Studies, Jawaharlal NehruUniversity was also one of the speakers inthis session.

The last session of day first seminar was chaired by Prof.Mohd. Aslam Islahi, Arabic Scholar, Dean of School of Lan-guage, Literature and Culture Studies, Jawaharlal Nehru Uni-versity. He raised the issue that Role of Urdu journalism shouldbe explored from a more objective perspective. Mr. Zakir Hu-sain, Archivist, National Archives of India was speaker on Con-tribution of Urdu Literature in the Great Revolution of 1857. Mr.Sanoj Kumar, Assistant Professor, Shyam Lal College, Universityof Delhi presented paper on Role of Urdu in the 1857 Uprising.Ms. Sana Aziz, Research Scholar, University of Delhi talked onThree Gems of Delhi College and their Role in the Mutiny of Delhi.Mr. Sachin Chakrabarti, Assistant Professor, Shyam Lal College,University of Delhi spoke on Non Co-operation Movement andUrdu Literature.

The second day on 1 December 2013, the first academicsession was chaired by Prof. Ibne Kanwal, Department of Urdu,University of Delhi. Dr. Sajjad Akhtar, Junior Fellow, Ministryof Culture discussed on the theme Tahreek e Azadi mein UrduShairi Ka Kirdar. Dr. Abdul Wahid, Assistant Professor, Academyof Professional Development of Urdu Medium Teachers, JamiaMillia Islamia spoke on Tahreek e Azadi aur Mujahideen-i UlamaKi Urdu Shayari discussed the pro active role of Ulama to thecause of freedom of India. Mr. Suhail Anjum, eminent Journal-ist presented his paper on Jang-e-Azadi Men Urdu Sahafat KaRole and gave vivid description of different Urdu newspaperduring the freedom struggle that espoused nationalist senti-ments.

The second session was chaired by Prof. M H Qureshi, Pro-fessor, Abdul Majid Khwaja Chair, Jamia Millia Islamia & RetiredProfessor Jawaharlal Nehru University. Dr. Asghar Raja,Archivist, and working in Apne Aap Women Worldwide basedhis talk on Role of Urdu Literature in India’s Struggle for Independ-ence: A Case Study of Bihar. Dr. Meher Fatima Hussain spoke onthe topic Indian Muslims and the National Struggle for Independ-ence: A Prismic View on ‘Patriotism’ in Urdu Literature highlightedthe fact that Indian Muslims have played frontal role in India’s

struggle for independence as evident in literature they gener-ated in Urdu. Mr. Syed Iliyas Husain, Assistant Professor, MotilalNehru College, University of Delhi presented paper on thetopic One Language Many Perspectives: The Story of Hindustanithrough the Lens of History. Prof Salil Misra, Professor of History,Ambedkar University, Delhi spoke on elements of patriotismand nationalism as manifested in poetries of Hali, Akbar Alla-habadi, Chakbast , Faiz Ahmad Faiz and Ali Sardar Jafri.

The third session of day second was jointly chaired by Dr.Maula Bakhsh and Dr. Mohd Ansarul Haque, Deputy Director,National Archives of India. Dr. Abu Zahir Rabbani, AssistantProfessor, Department of Urdu, Dayal Singh College spoke onNau Abadyati Jabar aur Iqbal ka Radd-o-Amal. Dr. Shagufta Yas-min based her discussion on Prem Chand ke Fiction me Jidu-juhde Azadi ka Tasawwer. Mr. Moid Rasheedi ResearchAssistant & Sahitya Akademi Award Recipient, NCPUL basedhis talk on Tahreek-e-Azadi : Ek Sadi Ka Almiya aur Nasir Kalmi.Dr. Md. Faisal Abdullah, Assistant Archivist, National Archivesof India spoke on The Expression of Anti-British Rule in India asReflected in the Hindustan Ghadar. Ms. Mosarrat, ResearchScholar, University of Delhi dealt on the topic 1857 Ki PahliJung-e-Azadi aur Ghalib and Dr. Shahid Akhtar Ansari, ProjectAssistant, NCPUL spoke on Jung-e- Azadi mein Urdu Adab ka In-qualabi Kirdar.

The two day seminar witnessed enthusiastic participationby students, scholars and media persons. New horizons on thesubject were opened up as speakers enriched the subject withtheir studies and explorations. This was a step towards achiev-ing larger understanding on role of Urdu literature in India’sstruggle for independence, a subject that acquires a uniquedimension in the history of India. Discussions during the sem-inar successfully apprised the younger generation with thecontributions and sacrifices that won us our liberties and in-dependence. This also fulfills the objectives with which AceVision is organized and functions. n


Saya Buildcon has become one of the most preferred realestate brands in Delhi NCR. Today, the Company buildshomes to cater to the discerning homebuyers all acrossthe city. It has been a decade since it started and each daypassed has been a great learning experience which it has

put in Saya to give what we promise and to stand by the philosophythis organization truly believes in relationship forever. In the lastone decade Saya has built and delivered various residential unitsand project, latest being Desire Residency and Zenith which weredelivered before promised time. Saya’s efforts were recognized andit was awarded at the Residential Property award organised for se-quentially delivering residential projects before promised time inthe Northern Region.

On winning this award, Mr. Vikas Bhasin, CMD, Saya BuildconConsortium Pvt.Ltd., said, “My real award lies in the relation that Ibuild with my customers. We at SAYA know the importance of own-ing a house and what all goes behind making this dream a reality.At Saya we build homes that boast of world-class robust engineer-ing and yet are pocket friendly, that offers a complete lifestyle state-ment and put in all our efforts to deliver the project before time andI hope I keep up to the expectations of our esteemed customers innear future.”

The latest project offering is at SAYA ZION @ Noida Extn. It has

used the finest furnishing range with latest equipments and con-temporary designs, the state of art features making this destinationthe best housing architecture of Noida Extn. Saya believes in givingmore space and independence, that is why, less per floor sharing.A mix of 2/3/4 BHK apartment with world class amenities, clubhouse, security, material quality, architectural design, is exclusivelydesigned by renowned Hafeez contractor.

In such a short span of time, Saya has created a mark in the realestate fraternity which had so many established players. The resultsand response that Saya is getting is overwhelming. All of this wouldnot have been possible if the company did not stick to the princi-pals that it had set for it in the beginning.

The main USPs of Saya Buildcom are:Integrity- To make sure that customers know what’s happening, andare always happy while dealing with Saya.

Transparency- we are here to build relations and in every rela-tion you have to be transparent.

Innovation- constantly coming up with new technologies, waysto attain best in the category results.

On time delivery of the projects - The Group's main motto is toprovide its clients the highest value for their money, coupled withan international level of style and design.n

Creating a Mark in theReal EstateI

n such a short span of time, Saya has created a mark in the real estate fraternity which hadso many established players. The results and response that Saya is getting is overwhelming.

SAYA BUILDCON


2014promises to be an eventful year forIndia. The uncertainty in the politicalscenario due to the upcoming electionsis a major contributor. While there willbe widespread impact due to the vari-

ous reforms and steps taken by the government as the newcompanies act or the various bills and amendments, one can-not ignore the rapid on-going urbanisation of India and thegrowth of the urban middle class, and its impact on retail andreal estate markets. The low productivity and consumption inthe past year that has spurred giant strides towards businessprudence and shifts in some closely held beliefs and paradigmsin these industries.

No one can predict the future. Yet, we can make calculatedprojections of what to expect considering the data and a care-ful analysis of the environment. Here are some such thoughtsbased on insights and information gathered across the Re-tailscape of the malls in India.

1. Shift in customer profiles and the retail : The trends seem to point to the fact that the very talked aboutrise of the aspiring middle class is a reality across urban retaildestinations. Combined with the acceptance of mall culture,this will force a mall managers and developers to think oftweaks and changes in the mall dynamics. The steady increaseof two wheelers across most centres (6-8%) is an evidence ofthis emergence and it will need a course correction in the retail

mix to have more stores that offer value brands. The currenttrend also seems to lead to a need for greater localisation andinfusion of local brands in malls. The ethnic women’s wear cat-egory is one that stands out. The share of such offerings hasgrown 78% over the last two years and the trading densitiesrecorded by stores seems to average Rs.1900/sq.ft./ monthacross the metros - almost twice the densities as compared tothe western wear across the country. At the same time, thesestores seem to be fairly brand agnostic where even the rela-tively unknown brands seem to perform equally well. Ofcourse, the bigger brands do enjoy a premium. It is difficult tosay if this is a clear correlation to the growing middle class asstudies and customer information seems to indicate. However,it could be that the rise in ethnic women’s wear in malls maybe more due to plugging a gap that existed where market hasalways been large. Whatever the real reason is, these shifts willhelp malls differentiate better and have their own unique per-sonalities.

2.Out of home family destinationsIn the absence of quality lung spaces in urban India, malls willcontinue to play a key role as destinations for families to spendquality out of home time. This will result in increases in enter-tainment and F&B and moving towards becoming leisure cen-tres too rather than merely being shopping destinations. Therehas been a growth of entertainment offerings across the mar-kets where their share of space at centres has doubled over the

These stores seem to be fairly brand agnostic where even the relatively unknown brandsseem to perform equally well. Of course, the bigger brands do enjoy a premium.

—By Mr. Anand Sundaram, CEO, Pioneer Property Zone(PPZ)

RETaiLSCaPE2014

retaIl


last 3 years – not counting the multiplex. The occupanciesacross the multiplex too did witness an upswing and is slatedto continue in the coming year with many releases planned.The trading densities at these entertainment destinations,however, continue to be low and there are no indications thatsuch indices will increase in the coming year. The Food andBeverage offerings as a share of the mall stores have alsogrown by 7% y-o-y on an average and the indications are thatthese will continue to have a larger share in the retail mix ofmalls. Here, the average trading densities have gone up by al-most 9% y-o-y and this trend seems sustainable. These areclear indicators of more time being spent by families andgroups at malls and underscore the need for quality entertain-ment and Food and Beverage offerings across centres.

3.Retail business models and offeringsGoing by the current trends, retailers focus will be much higheron store level profitability where there will be rationalisationof store sizes and an increase in the merchandise densities. Al-most 8% of the areas of malls witnessed down-sizing of storeslast year and most have reported increases in trading densitiesand profitability. This has also resulted in increases in numberof doors in the centres leading to a greater depth of offeringsfor customers. This trend will continue in 2014 too, as manyretailers have indicated their plans of taking this route to prof-itability. The stocking and merchandising is also gettingsharper be focused to micro markets in order to avoid over-stocking of merchandise that does not move. These trends are

clearly going to continue despite the talk of FDI in retail andentry of very large retail brands. Such steps will translate intomore variety for customers as the retailers downsize and re-lease more space, as also better offerings and choice of mer-chandise at malls. Considering the current scenarios, thecustomers can also continue to expect the longer periods ofsale in most stores across the country.

4.Better Marketing and Society connectThe malls are slowly but surely getting better in managing andmarketing the centres. An analysis of the past trends suggeststhat most malls are now waking up to the fact that they needto be inclusive in their marketing activities. The social mediais playing an active role here and the malls as well as retailstores are actively engaging with customers across variouschannels. While it is difficult to see any credible correlation be-tween such activities and business performance, it stands toreason that any such engagement will only enhance the un-derstanding of customer needs and wants. Going forward,such activities will help retailers and professional mall man-agers better tweak the offerings and communications accord-ingly so as to appeal to a more direct need. Also, going by thetrends, the anglicising of most regional languages will increaseto speak to a wider target audience and yet localise the com-munication. There will be ‘aurzyada’ such communications!

5.Mixed Use DevelopmentsGiven the relatively low yields of retail assets in today’s scenarioand the availability of funds for real estate developments, theshift has already begun towards mixed use developments toaccommodate many retail classes of real estate in the parcel ofland being developed. Many developments are now beingplanned with residential, commercial or hospitality projectsbeing planned on top of retail buildings. The advantages aremulti-fold and the offerings are more holistic and self sustain-ing. Most importantly, these make monetary sense to the de-velopers and investors. Considering the cost of land andconstruction on one hand and the customer spends and retailrentals on the other in most parts of the country, this is clearlya shift that is likely be more emulated and is here to stay. Suchmixed use developments are bound to outpace the stand-alone retail buildings in the future.2014 promises to be a very, very exciting year. With changes inthe political scenario, in law & amendments, policies and gov-ernance, on the sporting front there will be World Cup Soccer,IPL, World T20 and several more which will lead to retail led de-velopments and consumption in India! n

Roti Aur Kapda Versus MakaanRoti Aur Kapda Versus Makaan

Liquidity! That magical word has helped fuel growth inthe real estate sector across the country for a betterpart of the last decade. With multiple sources to drivegrowth, some not necessarily from the banking sec-tor, realty companies had been firing all cylinders.

Now they appear to be running out of gas.But the times have changed. Macroeconomic conditions

have worsened. The promise of double digit growth seems likea mirage. Interest rates have shot up, nearly 50 per cent higherthan the low of 2005-06. Like some other industries, real estatesector is also crying hoarse about the lack of policy support toensure availability of cheap liquidity.

But is only one side of the story. The inventory in the resi-dential space at an all-time high and builders are sitting onhuge unsold inventory estimated at more that Rs. 58,000crores. If liquidity was a worry, builders should not have been

sitting at that inventory. Banks are now wary of extendingloans to the sector after some tough measures by the ReserveBank of India, which has increased the risk weightage on theloans to the realty sector. Builders resorted to borrowing fromthe non-banking financial institutions (NBFC) and, in somecases, even helped liberally by cash-rich politicians and ownersof sick companies! Unfortunately, the extended period of stateand national elections has sucked out the cash from the sys-tem, pushing realty companies back further.

The end result is a sharp, and sudden, tightening of liquid-ity leading to unforeseen cash flow crunch on the builders. Un-fortunately, there is little to indicate that there is light at theend of the tunnel.

The impact of the liquidity crunch is hurting builders. Theshorter end of their operations is strained for want of fundsand the pace of construction work has clearly been impacted.

anks are now wary of extending loans to the sector after some tough measures bythe Reserve Bank of India, which has increased the risk weightage on the loans to therealty sector.B

opInIon


That is bad news because without construc-tion being in full swing, the builders cannotgo ahead and look for fresh liquidity.

To make the situation worse, RBIbanned dubious 80:20 schemes that al-lowed alternative funding from banksthrough buyers. In other words, almost allthe avenues of easy and cheap money arenow out of question. The industry needs toinvent new ways to move ahead.

The realtors need to share the blame forlanding themselves in the current situation.Like other industries, the demand-supplyequation of the market must have been de-liberated to forecast the upcoming change and make neces-sary adjustments to dealing with it. One of the adjustmentsreal estate players could have responded with was by strategicprice corrections and other accommodative deal structures. In-stead, industry continued to mark up the prices in the primarymarket. It is the same practice that drives other industries too.

Realtors are still debating whether a price correction shouldbe effected. With the macroeconomic conditions going frombad to worse, runaway inflation eating into the savings of theaverage family, availability of jobs in serious question, the EMIdriven youth is hardly the market that builders once looked upto. When the builders have failed to react to such an array ofmarket realities, expectation of a policy driven liquidity dole

should come naturally.There are three basic principles

on which any market, the stockmarket or others, operates – senti-ment, liquidity and fundamentals.

There is little to deny that thesentiment is against the real estatecompanies with high prices, lessthan vibrant job market andbuilders outdoing one another inkeeping prices artificially high.

Several realty companies aregasping for liquidity and, in a des-perate bid to stay afloat, are bor-

rowing indiscriminately from non banking and other sources.With institutional liquidity drying up, there is little to indicatethat the situation will change in the near future. What betterthan ensuring a steady stream of buyers which will open theliquidity tap at zero interest rate!

There is little to indicate that the high prices of housing willbe sustainable at the current rates. Inflation is rampant and isdictating the minds of the middle class, which could ideally bethe market for real estate companies.

The term roti, kapda aur makaan was coined in the 1970sto give a slogan for the middle class aspirations. The same mid-dle class is now saying that if he has to buy the makaan at cur-rent rates, he will have to forego his roti aur kapda. n

Mr. Samar Vijay, DirectorInvestCare(P) Ltd.


xpansion in NCR to be seen in brands such as JW Marriott, MGM Aloft, St. Regis, ConradHilton, Radisson Blu, Ibis and Lemon Tree.

The Asia Pacific region is on track for another recordyear of international tourist arrivals in 2013, accordingto a report released by Cushman & Wakefield. The AsiaHotels View 2014, an annual publication covering aclinical assessment and outlook of the hotel market

performance in 23 cities across Asia, revealed that estimatesshowed an 8% growth year-on-year in the first half of 2013. Lastyear, 221.5 million international tourists visited Asia, which was7.2% higher than in 2011. Of all the sub-regions, Southeast Asiatook the lead with a 9.9% year-on-year increase in arrivals.Across Asia, authorities are expanding capacities of airports,rail, sea-ports while enhancing city connectivity and infrastruc-ture as part of the efforts to boost their tourism sectors.

Akshay Kulkarni, Regional Director of Cushman & Wake-field's Hospitality sector group across South Asia and SoutheastAsia said, “The drop in NCR is due to the three regions — Noida,Greater Noida and Faridabad, apart from Delhi and Gurgaon.We anticipate that by the end of 2013, performance may notshow significant improvement but that has also to do with thefact that new inventory has come into the market, includingthe three large hotels at the airport. In Mumbai the growth indemand is slower than the growth in supply and, hence, therewill be a mar¬ginal drop in occu¬pancy and ADR”.

He further adds “There seems taken comparatively highergrowth in demand in the NCR region against Mumbai and

while the inventory in NCR is higher than in Mumbai,occu¬pancy shows growth because there is pent up demandbeing captured by the unorganized sector, which will movedto the branded section in NCR. The delay in the inventory com-ing online in NCR is also going to support growth of ADR. In2014, the second half should see improved business activity aswell as inbound travel due to elections and stabilization ofglobal financial health. Improved perception of safety and se-curity and stabilize political climate should also benefit in en-hanc¬ing the business volumes

MumbaiAs of 2012, the total organized inventory accounted for over14,000 keys. The inventory is primarily dominated by the luxurysegment with 33%, followed by 26% in the midscale segment,21% in the budget segment, 12% in the upper upscale seg-ment and 8% in the upscale segment. Five new hotels openedfor business in 2012, adding a total of 1,193 keys to the existingroom supply, namely Sofitel Mumbai in BKC with 300 keys,Shangri-La (to be rebranded) in Lower Parel with 390 keys, Gin-ger in Andheri with 116 keys, Country Inns and Suites with 94keys, and Ibis and Royal Tulip in Navi Mumbai with 196 and 97keys, respectively. 2013 has seen the introduction of only Res-idency Sarovar Portico in Malad with a total of 71 keys. The ma-jority of the demand is driven by the business and transientsegment, with an almost 70% share of total demand. In 1H

Growth of Hotel MarketsA Positive Turn in 2014

E


hospItalIty

2013, Mumbai’s occupancy is estimated to have increased by2 percentage points to 65% over.

The year 2013 is set to see some major infrastructure facil-ities transform Mumbai. In particular, the new airport terminalis expected to start operations soon and should be able to han-dle up to 40 mn passengers annually. Further improvementsinclude the proposed Mumbai Metro, which is expected to beoperational beginning with Line 1 (Versova-Andheri-Ghatkopar Corridor) by October 2013. Hotel supply increasedin 2013 and is set to continue to grow in 2014. Next year, wewould expect to see major additions to the city’s hotel inven-tory, such as JW Marriott Sahar Airport with 525 keys, ConradHilton in Juhu with 275 keys, Radisson Blu in Powai with 335keys, IBIS in CST Mumbai with 196 keys, and Lemon Tree with298 keys. With further increases in supply, ADR and AOR arelikely see a drop in the short-term. In fact over the next threeto five years Mumbai will have 5,919 additional hotel rooms.The average occupancy rate will be 61% while the averagedaily rate will be Rs 8,906 approximately

nCRNCR currently has over 23,500 units in the organized and un-organized segments, combined. Seventy-five percent of totalunits are in the organized sector. Micro-market wise, NCR has65% of its total organized inventory in Delhi, 21% in Gurgaon,5% in Noida and Greater Noida, 3% each in Manesar and Ghazi-abad, and 2% in Faridabad. In 2012, the total inventory wentup by 9%, that is, approximately 1,500 units entered the marketlast year. Prominent new entrants were Park Plaza by SarovarHotels and Kempinski Hotel in Delhi, Pullman Hotel and Dou-ble Tree by Hilton in Gurgaon, Radisson Hotel in Ghaziabad andSavoy Suites in Manesar.

Of the total NCR hotel inventory, the luxury segment con-tributes the highest share of about 34% of the total inventory,followed by midscale with 30%, upscale with 16% and upperupscale with 12%. The budget segment has the least contribu-tion, amounting to only 8% of the total inventory. NCR has arobust pipeline of upcoming hotels with approximately18,000 keys expected to enter the market over the nextfive years. The majority of this new supply is expected tobe in Delhi (34%), given the development of the Hospi-tality District near the international airport. The opening

of a number of new hotels in this area has been delayed by afew months because of safety and security concerns raised by the Airport Authority of India (AAI). Noida has a share of about 25%, Gurgaon with 21%, Greater Noida 13%,Manesar 4%, and Faridabad 3% of the total upcoming supplyin the NCR.

Historically, NCR has been a lucrative market for most hos-pitality players, which can be ascertained by the quantum ofinventory – existing and upcoming. The Hospitality District atDIAL 12 will have an influx of fresh inventory in NCR in the second half of 2013, after obtaining clearance from the AAI. A total of over 4,200 keys are expected to open in the next fiveyears in the Hospitality District alone. Delhi, the capital city ofIndia, has outgrown its boundary as an agglomeration to itssuburbs to accommodate its increasing population and liveli-hood. However, the demand of hospitality accommodation re-mains strong in the prime areas in the city.

As the availability of land continues to be a constraint inthese areas, this has triggered hotel development in micro-markets like Noida, Gurgaon and Faridabad. ADR and AORmight experience further decreases in 2013, given theeconomic instability in the light of the impendingGeneral Elections due in 2014, coupled withthe strong pipeline of new hotel inven-tory entering the market. The stiffcompetition, together withlower AOR, is likely to putdownward pressureon ADR this year.With such as c e n a r i o ,budgeta n d


A total of over 4,200 keysare expected to open inthe next five years in theHospitality District alone.Delhi, the capital city ofIndia, has outgrown itsboundary as an agglomer-ation to its suburbs to ac-commodate its increasingpopulation and livelihood.However, the demand ofhospitality accommoda-tion remains strong in theprime areas in the city.

hospItalIty


midscale segment hotels are likely to performbetter than the upper upscale and luxury hotels,given their flexibility to play in a lower price seg-ment. In fact over the next three to five years NCRwill have 18,064 additional hotel rooms. The av-erage occupancy rate will be 61% while the av-erage daily rate will be Rs 8,906 approximately.The expansion will be seen in brands includingJW Marriott, MGM Aloft, St. Regis, Conrad Hilton,Radisson Blu, Ibis and Lemon Tree

Despite the recent rout in Asian financial mar-

kets and cuts in GDP forecasts, long-term growthprospects for Asian economies remain struc-turally healthy and a repeat of the 1997 financialcrisis is unlikely. Market-wide Asian hotels havehad positive RevPAR growth in 2012, although ata slower pace compared to 2011. So far in 2013,hotel performance remains a mixed picture ofgrowth, consolidation and decline in differentmarkets. However, we expect next year’s hotelRevPAR growth to make a positive turn as someof the recent excess. n


IRY is a commendable effort that tries tocapture nearly everything in thelandscape of luxury homes in India.So far, we have seen coffee tablebooks celebrating the real estate

stake-holders primarily the developers.But for the first time, we see the focus ison the industry per se, its trends, its proj-ects and who’s who of the Indian real es-tate industry have given insightfulperspectives on the various aspects ofIndia's property market.

This seems like a first meaningful at-tempt that talks about nearly every as-pect of real estate industry. There arevoices across a wide spectrum of real es-tate activities that range from hometechnology, transactions and brokerage,marketing, taxation, legal, regulatory,design, green architecture etc. to softeraspects such as branding, and customerexperience management. This is spec-tacular read and it’s a must-read, for notjust a buyer of luxury, but also the cre-ator of it.

The book starts with a global per-

spective by Christies International Real Es-tate (CIRE) that outlines the key charac-teristics that a global HNI looks out in theworld luxury housing market- thingssuch as ‘luxury residential real estate val-ues are more likely to follow trends inluxury goods and not the general hous-ing market’ make a good read for an av-erage reader too. CIRE's note says thatthe multimillionaires and the billionairesgenerally purchase property to enjoy aregion’s available cultural and leisurepursuits rather than to 'flip' their invest-ments, and stuff like this offers deep in-sight into the psyche of the global luxuryinvestor.

This is followed by a set of globalbrands who have entered the Indian realestate market and their first person ac-count of how they view the India oppor-tunity, how they define luxury and howluxury will be customized to the Indianexperience. Grand Hyatt’s JohnBurlingame rightly says that Indians havestrong family ties and often three gener-ations live under the same roof And

Author : Namrata KohliPublished By : Hundred CommunicationPrice : Rs. 5000

books


hence 'in our debut project the smallestconfiguration is 4600 sq. ft. four bedroomapartments.' Swarovski comments thatIndia is a vibrant society with increasing in-fluence on the rest of the world. And thatIndians have extraordinary appetite for lux-ury in their homes. While yoo's founderJohn Hitchcox says that we are inspired bycolours of India and our idea is to create aspace which is designed to validate yourevery whim, Foster & Partners emphasizeupon attention to details - "In creating lux-ury, everything is considered --from themacro down to the micro- from the shapeof a building to the quality of finishes in thekitchen." Technical experts such as contrac-tors ACC, wind consultants RWDI, structuraland safety consultants Buro Happold alsohave given first person account of their area of expertise andwhat draws them to Indian realty.

The second section starts with the definition of luxury in In-dian residential, and gives an overview of Indian luxury real es-tate market listing out the Investment hotspots in India’s primemetros, trends, gadgets and gizmos. CBRE’s table on 40 proj-ects in super luxury category in a price band of 5-50 Cr is worthreading. The section also touches upon the aspect of home in-

teriors and highlights the noteworthyluxury brands in home interiors seg-ment of lighting, security, bathrooms,furniture and kitchen.

RICs compilation of global bestpractices in real estate is praiseworthyand highlights what all we could incor-porate in our industry to bridge the gapbetween what is currently available andwhat is desirable.

The last section of premium directorycalled Ready Reckoner is useful databasefor both investors and developers. Thiscompilation of hi-end service providersenlists the best names in India's transac-tions (Channel Partners), InternationalProperty Consultants (IPCs), legal firmswith a significant real estate practice, ar-

chitects and interior designers and umbrella bodies.Kudos to the Hundred Communication for the meaningful

and comprehensive approach in laying out content as well aspulling out a product with hi-quality design and paper.

One would like to see such quality products more often,something that promises value for time and money. Priced atRs 5,000 it’s a must have for everyone who is a stakeholder inthe real estate industry. n

Namrata Kohli


Indian cities slipped further in the regional rankingsthis year, but did manage to retain a position in theTop 25 real estate destinations of the Asia Pacificregion. Mumbai and Bangalore have slipped to the23rd and 20th positions respectively in the list of

investment destinations covered by the EmergingTrends in Real Estate® Asia Pacific 2014, publishedjointly by the Urban Land Institute (ULI) and Pricewa-terhouseCoopers (PwC). Delhi has maintained its rank-ing at 21st position while Chennai has made an entryfor the first time at 22nd position.In the previous reportof 2013, Mumbai and Bangalore were placed at 20thand 19th position respectively.

These low ratings are attributed to the ongoingeconomic problems, an uncertain currency outlook fol-lowing a mid-year plunge in the value of the rupee, andan investment environment widely perceived to be un-friendly to international investors. Still, interest in Indianmarkets remains high. With national elections loomingand reports on the ground suggesting that the tidemay be turning in receptivity to foreign investment,many foreign funds are waiting on the sidelines to seewhat happens, the report added.

Gautam Mehra, Executive Director at PwC Indiasaid, “The general slippage of Indian cities in the rank-ings, coupled with the retention in the Top 25 list, tellsthe story – on the one hand, there is the negative im-pact of the combination of market, currency, regulatoryand political risk which continues to result in a generalsense of nervousness and the tendency of foreign in-vestors to stay on the sidelines, while on the other, theundoubted potential continues to keep interest levelsgoing. The new entrant (Chennai) gives another posi-tive twist to the story. In the backdrop of the outlookemanating from the report, a more conducive andtransparent environment will set the ball rolling for at-tracting greater levels of investment, both foreign anddomestic.”

The report stated that overall for Asia, the real estate

fundamentals are expected to remain strong in marketsin 2014, with stiff competition for conventional assetsin prime markets boosting the popularity of nicheproperty sectors and secondary markets for invest-ments.

The report notes that, unlike other asset classes, realestate in Asia “barely flinched” this year in response tothe tapering of the U.S. economic stimulus and expec-tations of higher interest rates. This is due, in part, be-cause of the increase in sovereign wealth andinstitutional capital being directed to Asian markets, aswell as the substantial volume of Asian capital beingexported from China, Singapore and South Korea intoreal estate assets across the region.

“While Asia’s robust market has been accompaniedby higher prices and lower yields for core products, in-vestors have reacted not by pulling away from real es-tate in Asia, but by finding new ways to make thenumbers work, including a focus on specialized prop-erty types such as senior care or logistics, and on op-portunities in emerging markets,” said ULI North AsiaChairman Raymond Chow. “We do expect some head-winds as rising interest rates compress yields further,but overall, we are very encouraged by the optimisticview reflected in the report.”

“If we look at new ways to enhance returns, we cansee investors are trying to enter at the developmentlevel and an increasing number of co-invested devel-opment deals are now being struck,” said K.K. So, theAsia Pacific Real Estate Tax Leader at PwC Hong Kong.“Several large institutional players that have opened of-fices in Asia in order to gain access to direct deals haveopted to co-invest in development sites as a means ofsecuring core assets that would otherwise be unavail-able or be too expensive. This is something of a depar-ture from normal practice at institutional funds, but isbeing driven mainly by necessity. Besides, we also seea trend towards lower opportunistic returns and in-vestors are opting for longer investment windows.”

Emerging Real Estate TrendsB

angalore, Mumbai slip in investment destinations list, according to the ULI,PwC report on ‘Emerging Trends in Real Estate Asia Pacific 2014


trend

Emerging Trends, which was released in Mumbai and ata series of events across Asia over the next week, provides anoutlook on Asia Pacific real estate investment and develop-ment trends, real estate finance and capital markets, andtrends by property sector and metropolitan area. It is basedon the opinions of more than 250 internationally renownedreal estate professionals, including investors, developers,property company representatives, lenders, brokers and con-sultants.

Top Investment Markets for 2014The generally positive outlook for many markets throughoutthe Asia Pacific region is highlighted by the re-emergence ofJapan (after a five-year absence from the top rankings) as afavored market for investment and development. The coun-try is one of the largest beneficiaries of capital flows fromother regions within Asia, notes the report. Its increasingpopularity is attributed to the government’s massive eco-nomic stimulus plan, which has resulted in a flurry of prop-erty purchases in anticipation of rapidly rising prices. Inaddition to Tokyo, secondary cities in Japan, including Osaka,Fukuoka and Sapporo are gaining appeal among investors,notes the report. Outside of Japan, the survey found contin-uing interest in assets located in Asia’s emerging markets, in-cluding Jakarta and Manila. The reason, says EmergingTrends, is that as “cap rate compression continues to squeezereturns, and with higher interest rates seemingly just aroundthe corner, investors are drifting to markets that can providethe kind of returns they are unable to tap elsewhere.” The fivemost favored markets for 2014: 8 TOkYO-Claiming the top spot is Tokyo, which has

emerged as an investment magnet soon after the in-troduction of dramatic economic reforms aimed atboosting the economy. Transaction volume picked upsignificantly in 2013 and, with the success of the stim-ulus program yet to be determined, buying is ex-pected to continue next year. Tokyo is ranked secondfor development prospects for 2014.

8 SHAnGHAI - Shanghai, described as an “evergreen”market for investors, is ranked second for investmentprospects. Despite cap rate compression and stagnantrental growth, real estate in the city continues to drawinternational investors because Shanghai is widelyperceived as a well-known, low-risk market for thosewho are unwilling to venture into lesser-known cities.Shanghai offers a “level of comfort” to funds with amandate to place money in China, says the report. Thecity is ranked fourth for development prospects.

8 JAkARTA-Jakarta is ranked third for investment po-tential, despite a lack of market transparency, and dif-ficulties obtaining entitlement, and competition fromlocal businesses and individuals. Newly released officestock in Jakarta is of better quality than in previousyears, and there continues to be strong demand fromcompanies seeking space, including the currentlyunder-supplied central business district. Jakarta is

ranked first for development prospects.8 MAnILA-Manila moves up to fourth place for 2014,

the result of a fast-growing economy, the increasingpopularity of the city as a destination for multination-als seeking outsourced services, and a growing aware-ness that the problems long associated with lack oftransparency and governance issues are improving.The city is also benefiting from a young demographic,strong capital inflows from local citizens workingoverseas, and a workforce with a cultural affinity withthe West. Manila is ranked eighth for development po-tential.

8 SYDnEY-Sydney rounds out the top five markets,holding its appeal for both local and foreign institu-tional investors despite relatively weak fundamentalsin its office and retail sector, and some concerns overthe financial and mining sectors. Still, with a limitedsupply of office space in the pipeline, investors arebullish about the city’s central business district; andits residential sector has experienced a solid rebound.Sydney is ranked eleventh for development prospects.

Investment Prospects by Property Type8 InDUSTRIAL/DISTRIBUTIOn-The industrial/distrib-

ution sector is the top-rated property sector for invest-ment potential. Emerging Trends notes that the sectoris undersupplied, due to extra demand for storage fa-cilities being fueled by increased online consumerspending in Asia. Best bets for investments in indus-trial properties: China’s secondary cities, as well asShanghai and Guangzhou.

8 RESIDEnTIAL- Residential ranks second, althoughthe report cautions about high prices affecting hous-ing affordability, the likelihood of higher home mort-gage interest rates, and the ongoing impact ofgovernment intervention in China to control furtherprice increases. Best bets for residential investments:Manila, Tokyo and Jakarta.

8 OFFICE- Office space is listed third for investment po-tential, with the mediocre ranking attributed to“fevered competition from too much investment cap-ital fighting over the same deals, especially in core as-sets. Best bets for office investments: Tokyo, Manilaand Jakarta.

8 RETAIL-The retail sector ranked fourth for investmentpotential, with some concerns being expressed aboutoverbuilding in some secondary markets. However,opportunities in prime downtown locations still holdmuch promise. Best bets for retail investments: Manila,Jakarta, Tokyo and Shanghai.

8 HOTEL-While hotels ranked fifth for investment po-tential, the sector is still seen as general solid, due toa rapidly growing tourism industry and relatively highyields. Tokyo leads as the best bet for hotel invest-ment, as the city begins preparations to host the 2020Summer Olympics. n


62 lJanuary 2014

specIal story

OBSERVER DAWN

n OD Desk

Now-a-days, celebrity endorsement has come outas latest trend in real estate. Famous celebrities ofsilver screen, sport, society and television are en-dorsing real estate developers and their projectsacross India and Delhi-NCR is also in the league of

big endorsements. We all know that exclusivity with a solidtwist of glamour always attracts people and real estate indus-try is also following the trend to pull investors and buyers.Celebrity endorsement is one of the strongest marketing toolsof realty sector to project themselves with unmatched quali-ties, promises and pull desired eye balls for their projects,

brand image and to create unique brand identity among thecompetitors. In NCR region, many developers like; Gaursons,Mahagun, HL Group, JM Housing, Ace Group, Nirala India, Aj-nara, WTC Noida, Oasis, Amaatra, Encon etc. are in the similarrace. Let’s see the wide prospects of celebrity endorsement inreal estate.

Amrapali Group, a known name in real estate, has reasonsof its association with cricketer of the country, the captain coolof Indian Cricket, Mr. Mahendra Singh Dhoni(lovingly called asMahi or simply MS) who endorses the company.

If we analyze the importance of celebrity endorsement, itlooks very intelligent decision of companies to project themin market of cut-throat competition where most of them are

Decoding Prospects of Celebrity Endorsement in Realty Sector

Whenever a celebrity endorses a particular product or brand ororganization, it is a win-win situation for both the parties.

offering similar specifications, layouts, amenities, criteria, loca-tions, budget etc. Recently Ms. Chitrangada Singh endorsedFinlace Consulting, a Noida-based end to end property con-sulting firm. Mr. Pawan Jasuja, Director of Finlace Consultingconsiders that renowned celebrities create positive image ofproducts or services under the brand name and successfullyearn goodwill for the company. It works as an instant messen-ger for new players who don’t have strong background and of-fering almost equal facilities like others and moreovertargeting mid and upper middle class. At the other hand, bigdevelopers utilize the brand image of celebrities for their proj-ects as they target overall buyer’s segment along with nichecategory. NCR region has very prominent names in real estateindustry and at the same time it has big buyers and investorsbase. On celebrity endorsement, Mr. Iftikhar Ahmed, MD, NiralaIndia who has roped in cricketer Virendra Sehwag for his proj-

Endorsement by association is as powerful and im-pactful as endorsement done for commercial con-siderations. Most of time, it's not clear how acelebrity is associated with the product?Before roping in a celebrated person as a brand ambas-

sador for a product or service, every business, be it realestate or FMCG, would like to explore what its brandshould be identified with, keeping in mind their targetcustomer group. Accordingly, a celebrity that personifiesa certain value, be it luxury, elegance or robustness, ischosen to position the brand.

Unlike FMCG products, timeline for real estate proj-ects are longer. While selecting a celebrity for itsbrand face-lift, companies need to invest on some-one who captures people's imagination for a longerperiod. Your comment.Real estate is a business whose core values today are trustand credibility more than any other. A celebrity that con-sumers connect with these values may be a suitablechoice. However, more important than the celebrity, it isthe past record of the developer which may have agreater influence on the psyche of the prospective buyerthan the celebrity.

Celebrities influence lay citizens and consumers. DoRealtors keep tag on rising or for the same way, thedeclining brand value of celebrities?A celebrity, like all businesses, goes through falling and

rising brand value during his/ her professional life. As in-dividuals, a certain degree of awareness is always therewith before choosing and finally roping in a celebrity.

Do celebrities really push the sales graph once theyare declared to be part of company/organisation?While celebrity endorsement may bring a project into thepublic eye and increase the number of enquiries, sales fig-ures in the real estate business are dependent on tangibleand intangible aspects such as the reputation of the de-veloper, project location, infrastructure, pricing, efforts ofthe Sales and Marketing team and other various complexvariables.--Ms. Ananta Raghuvanshi, Executive Director, DLFn

ects, utters, “Sports person is known for its dynamic personalityand own unique style and this is the reason we opted VirendraSehwag as our brand ambassador. Before him, we thought alot and discussed with many consultancies but finally we de-cided for him. More than anything we believe in our qualityconstruction, better management of space and offer the besthomes to our valuable customers. Like others, we hardly playon big and hefty offers every time and we challenge on con-struction materials because this is our signature style.”

Let us take another view from Mr. Suresh Anand, MD, HLGroup. Anand recently roped in Ms. Sharmila Tagore and Ms.Soha Ali Khan who endorsed group’s mega project “HL City.”“Many a times, brand ropes in the Celebrities but is unable touse them in wise manner. More than anything, there shouldbe a well defined and logical correlation between the celebrityand the brand or project because the combination has to cre-ate a perfect picture in buyer’s mind otherwise it seems justwastage of time, money and resources,” Anand elaborates. Headvised to count requirements before celebrity endorsementrather than following a rat race in the name of trend.

But every coin has two sides and in the same way here weshould check that do celebrities also require brands! For thetime being, if we left customers, celebrity endorsement is dealwhere brands and celebrity works as complement for each

Endorsement by association is as powerful and im-pactful as endorsement done for commercial con-siderations. Most of time, it's not clear how acelebrity is associated with the product?Yes, Endorsements are done so that a targeted consumercan associate himself/ herself with the product. If anycompany is able to establish and create that value propo-sition, it automatically captures most of the mind of itsconsumers. JM Group, associates with renowned super-star & actress Kareena Kapoor Pataudi for her royalty, rich-ness in deliverables and class in the services.

Unlike FMCG products, timeline for real estate proj-ects are longer. While selecting a celebrity for itsbrand face-lift, companies need to invest on some-one who captures people's imagination for a longerperiod. Your comment.Yes, while selecting any celebrity for project’s launch thelong-term impact of them is kept in view. Also their pre-vious records and established goodwill plays yet anotherrole. These days, the target audiences are not only themain member of the house, but the wife and children arealso being targeted through their favorite celebrity en-dorsements.

Celebrities influence lay citizens and consumers. DoRealtors keep tag on rising or for the same way, thedeclining brand value of celebrities?Celebrity’s brand value represents the company’s good-

will and reputation in the industry. The declining brandvalue of them may impact the sales to a certain extent butthe company’s take on other re-branding activities for es-tablishing their image from time to time.

Do celebrities really push the sales graph once theyare declared to be part of company/organisation?With our experience, we do believe that these types of

endorsements clubbed with the company’s vision & cul-ture helps in pushing sales graph to the north.

--Mr.. Ankur Aggarwal, Director, JM Housing Limitedn

specIal story


other. According to Mr. Vipul Gambhir, from Brain Maalish Ltd.,a rapidly growing Advertising Agency, “The Impact of celebrityendorsement on the overall brand is a significant one. Mar-keters do acknowledge the power of celebrity endorsementin winning over the customer, but all is not hunky-dork;celebrities too after all are a brand and they also require a plat-form to showcase & promote them. The fact which works outfor the brand or a product works equally for the celebrity aswell. A celebrity irrespective of the fact whether he or she isfrom sports or movie fraternity is a brand in itself, which canbe compared to any other MNC brand or for that matter any

Do you believe that re-branding and celebrity en-dorsements is one of the strongest tools for real es-tate developers who wish to create a unique identity?Could you please elaborate? Celebrity endorsement and rebranding is a strong toolbeing extensively used by the real estate developers thesedays to create a strong brand identity. As is the case withmost of the advertisements, a product i.e. In this case too,the real estate company, in order to catch more eyeballsand reach out to the young who work for the MNCs hav-ing double income with both husband and wife earningand no children are potential investors in the real estate.As the saying goes that home is where the heart is holdsequally true for developers to attract this category of buy-ers/investors in home buying. Yes, Celeb endorsementhelps in building brand equity for a developer.

Should the role of branding be only limited to promo-tions? Please explain?The role of branding should be limited to promotions. At

the end of the day, the product or the flat/villa and whatyou promise and deliver is what matters. Branding onlyhelps in promotion of any property.

Have you taken any celebrity as brand ambassador?If yes, then has it delivered desired results?No we haven’t taken any celebrity as brand ambassador.

Our company believes that the three golden principles forthe success of any organization are: Trust, Transparency andcommitment to our customers as well as investors.

Do you have any such plan to associate with somecelebrities? If you have one, please name the celebrityand why did you chose him/her for your promotion? As of now, we haven’t hired any celebrity for our promotion.The investors have an unflinching trust and faith in ourGroup’s leadership quality and that is the main driving forcefor the Group. Mr. Tarun Shienh, the Real Estate Guru and CMD, PremiaGroup n

Yes, celeb endorsement helps in building

brand equity for a developer”


66 lJanuary 2014

cover story

OBSERVER DAWN

home-grown brand. The rules to successful marketing forwhich are applicable on the brands are equally applicable onthe celebrities as well. Whenever a celebrity endorses a partic-ular product or brand or organization, it is a win-win situationfor both the parties. The promotion for a particular productbeing endorsed by the celebrity helps in creating a brand recalland even in some cases causes brand awareness for thecelebrity.” Brain Maalish has been providing Celebrity Endorse-ments services in NCR region and successfully roped inDeepika Padukone, Soha Ali Khan, Sharmila Tagore, RichaChadha, and many more...

Well there is a segment of people who don’t mind in spend-ing money in branded project and get associated with theirfavourite celebrity like; buying apartment in the same projector at same floor, be part of the acting, dance or cricket acad-emy or get a chance to meet quite often after few years. Whilediscussion, Mr. Subodh Goel, CMD, Civitech says, “NCR is a hotdestination for property buyers be it small, medium or big;most of the developers are focusing on celebrity endorsement

with clear objective to draw quick attention and get desiredrecognition in buyers. Being part of the advertisements,events, bhoomi poojan and new launches, celebrities attractmass and at the same time companies accelerate their salesand marketing division and try to convert their popularity interms of target figure. Sometimes endorsement is done as partof complete makeover of the organization with new servicesand commitments too.”

But there are few terms that can’t be projected or main-tained by any celebrity such as quality of work, services, dead-line, possession, maintenance work, documentation,legalization, completion certificate, perfect payment scheduleand response time. At this point only developer’s past recordand current status works that ensures these issues. Quality con-struction and maintenance has no substitute for real estate in-dustry. Said by Mr. Manoj Kumar Goyal, CMD, KDPMGI, there isno doubt that celebrity’s affect buyer’s decision makingprocess and real estate is under this category now. Their socialimage, popularity and commitments help companies to

achieve their sales target but buyers are equally smart and theycheck track record of builder, old projects, visit and talk withresidents and various feedback from market before any deci-sion. In terms of sales, celebrities can do wonder but in longrun no one remember it and a smart investor or buyer en-quires about previous record of developer like; quality work,possession time, facilities in payment terms, legalities, comple-tion certificates, documentation, maintenance etc.”

At the same time, there are many players who believe intheir quality work and promote it as the biggest USP of theproject and company. Mr. Suresh Gogia, CMD of AscentBuildtech also seems agree with this. He says, “Celebrity en-dorsement is not a big deal but it depends on the size of theproject, concept behind it, location and segment you are goingto promote. Although I am not opposing anyhow but some-times I feel that the money utilized in endorsement of acelebrity raises cost of overall project that finally comes onshoulder of buyers. Till date we have never done any type ofendorsement still we are successfully selling our projects anddelivering projects on mentioned time.”

Overall celebrities initially magnetize buyers and investorsbut quality work and infrastructure can’t be ignored that cre-ates real market value. n

Endorsement by association is as powerful and im-pactful as endorsement done for commercial con-siderations. Most of time, it's not clear how acelebrity is associated with the product?Endorsement by association are a matter of understand-ing what the endorse brand or subject has to do in rela-tion with the association. Endorsement may beunderstood at level of stage of participation that areshown by the association of the different level of involve-ment. The two most prominent are the use or consump-tion of the brand product personally by the brandambassador, or involvement in business of the brand orproduct by the associate himself.

Unlike FMCG products, timeline for real estate proj-ects are longer. While selecting a celebrity for itsbrand face-lift, companies need to invest on some-one who captures people's imagination for a longerperiod. Your comment.Indeed the level of influence in day to day life by the so-

ciety for the associated celebrity is promportional to thebrand awareness generated by them. In our case, Mr. Gau-tam Gambhir is not just a celebrity, he is a sportsman, anachiever & a master in his game.

Celebrities influence lay citizens and consumers. DoRealtors keep tag on rising or for the same way, thedeclining brand value of celebrities?Today's patrons at matter of Realty are not at all lay. Theystudy the market , analyse stats and think a million timesbefore spending a penny,just as they should. Endorse-ment by a celebrity generates awareness and is meant forthe same function after that its the credibility of the prod-uct and its market value which effects the conversion.

Do celebrities really push the sales graph once theyare declared to be part of company/organisation?To some extent it is indeed, influential for the graph to beassociated with a celebrity. However if you read betweenthe lines, reality is that, right after generating awarenessand hype for the brand teh task is forwarded and well sus-tained only by a dedicated and updated sales team, ma-jorly affected by the brand's true market value.

-Mr Danish Suhail, Head- Advertising & Promotion, Rudra Groupn

Issue


It is extremely paradoxical that those who build the best ofhouses live in the worst of houses, in inhuman surroundingsand extremely pathetic living conditions.

Migrant WomenConstructionWorkers in Delhi


Issue

In this era of globalization and liberalization movement oflabour has become a common phenomenon across theworld and in India too, and is seen as vital in filling the gapin labour requirement in the urban areas. Migrant workersprovide cheaper labour than non-migrant worker; They are

the backbone of construction and industrial sector which formthe basis of the infrastructure development in India. In the re-cent years, developing countries are experiencing feminizationof migration. Readiness among women to migrant and workat any wage has caused this process of feminization. There exista great deal of discrimination at every phase of migrationprocess for women workers, but even then they have madetheir way towards empowerment and economic independ-ence..

An approach paper to the Twelfth Five Year Plan estimatesDelhi’s economic growth at around 10.5% during this period.Delhi, a small town in 1901 with 0.4 million population hasgrown exponentially to 1,67,53,235 by 2011 of which1,63,33,916 lived in urban areas. Thanks to the migratory pop-ulation across caste, class, religion and regions, who have con-tributed to its growth and development. While at the higherrungs of the social class, ideas and policies flow and are formu-lated, it is the class at the lower rung-labour, whose sweat andincessant hard work contribute to the development of infra-structure- residential and commercial buildings; office com-plexes; malls, flyovers; metros rails and stations; stadia andmany others. It is extremely paradoxical that those who buildthe best of houses live in the worst of houses, in inhuman sur-roundings and extremely pathetic living conditions. Those whohave contributed their might and labour for the development

of the cities like Delhi, can there be concern for a basic decentliving, with basic entitlements for them?

In a recently-concluded study by Prof. Sanghmitra Acharyaand Dr. Sunita Reddy, under the auspices of SATAT, supportedby Ministry of Women and Child Development, found seriousissues and concerns of women migrant workers in the con-struction sector. A total of 501 women construction workersfrom a construction site in each of the nine districts of NCTDelhi; like Rithala Metro Station, Parswanath Apartment Pvt.,Timarpur, Ahinsha Vatika, Shahdara Metro, Parswanath Seelam-pur Metro Mall, L.H.M.C. Project, Shivaji Stadium, Era Infra Pvt.Ltd., Minto Road near Kali Bari, Parswanath Paramount Apart-ment, Subhash Nagar, JNU, NCCB, Near Crown Plaza, Okhala-IIwere interviewed.

The study shows that 59% construction worker migrated toDelhi, due to unemployment and poor economic condition ofthe family in their respective places of origin. Second importantcause of out-migration for 33% was because they had to followtheir husband or a family member. The living conditions inDelhi were worst than that in which they were in their place oforigin. A large majority of them migrated from Uttar Pradesh(42%), followed by Madhya Pradesh (23%) and Chhattisgarh(12%). A little over 97 % migrant workers who lived in their ownhouse sin the place of origin, now lived in rented houses, whichwere mostly non-permanent structure-jhuggies and only37.70% own houses. Around 45% of the construction womenworkers live at the construction sites, lacking basic amenities.It is ironical that those who build best of houses cannot evenhave a toilet facility for themselves, 73.5% gofor open defeca-tion, making them vulnerable to abuse. Only 14% of the total

By : Sunita Reddy and Sanghmitra Acharya


construction women workers reported of having a crèche fa-cility at construction site, for 85% there are no such arrange-ment, children are left behind unattended. For 76% there is noresting place at the work site too.

As regards the nature of work in which the women workersin construction industry are mostly engaged is non-mecha-nized (99%). They are mostly head loaders and carry load fromone spot to the other even by climbing stairs. It is ironical tosee that when women are competing with men in every sector,be it professional or technical, why is it that they lag behind inthe construction industry? With more and more buildingsgoing high rise, and construction activity engaging in mecha-nized labour, women’s share in this sector is shrinking due tolack of any mechanical and technical training. Is it, therefore,not high time that women too got trained to develop skills inplumbing, electrical, paintings and training in tools etc.

None of them are getting basic minimum wages as pre-scribed by the Delhi Government. Majority of them (40%) getsonly Rs. 150 per day, another 22% receives even less, Rs. 140per day. However, 23% receives Rs. 200 per day. Thus majorityof the total construction women workers are getting wages be-tween Rs. 140-200 per day. It is apalling to note that 58% ofthese workers have been cheated by construction authori-tiesin different ways. Even though none of them get minimumwages, 42% of them still believe that they have not been ex-ploited!Nearly 35% of women in construction work, have re-ceived less amount of wages than real wage/ minimum wages.Around 14% are not sure of what should be the wages and 5%of them did share that their wages were cut by Rs. 5-15 in differ-ent casesby the person in-charge of giving them wages like Ja-madar or Munshi. Delhi Government Labour department has

issued revised rate for unskilled (Rs. 371), semi skilled (Rs. 343)and skilled (Rs. 377) w.e.f from 1/10/2013 in all scheduled em-ployment. It is important to make them aware of the minimumwages and eqaul wages as their right.

As far as the safety measures of the workers are concerned,38%of these construction workers have reported of injuries atwork site, among them only 13% got treatment at the con-struction site although because of the first aid kit was availableat the construction site was reported by 48% of the construc-tion workers. However, 51% of them reported that no first aidarrangements at the site were available. Unequal wages, lessthan minimum wages, lack of toilet facilities, resting place, noschooling and crèche facilities are internalized as normal bythis under privileged segment of women workers.

There are 29 Labour Acts being implemented in NCT Delhi.The labour laws like ‘The Building and other Construction Work-ers Welfare CESS ACT, 1996’ where 1% CESS is collected fromthe construction companies, has the scope of being utilizedproperly. Under this ACT, there are 18 schemes for the welfareconstruction workers and their families, like fellowships forschool children, old age pension, health benefit, funds for buy-ing tools etc. There are lots of hurdles to get these benefits forthe construction workers. Delhi based organization Satat ismaking efforts to make these workers get benefitted. There are16 Labour courts across Delhi, but they are far from the reachof the common worker engaged in the labour industry. Poorand illiterate labourers, more so the women, struggle everydayto survive, with no hope and respite from the State. It’s hightime, one needs to make sincere efforts so as to ensure thatthese laws, entitlements and benefits reach these workers forwhom they are meant. n



The Apeejay Stya University (ASU) recently launched theSvrán Open Design Foundation (SODF) at the 13th CII De-sign Summit 2013 in the presence of the best Indian andinternational design thinkers, practitioners and supportersas well as industry leaders.

While launching the Foundation, Mr. Aditya Berlia, Pro-Chancel-lor, Apeejay Stya University and Member of CII’s National Committeeon Design, said, “The next decade clearly belongs to Design. Westrongly believe that anything can be designed, and therefore every-one is a designer. SODF, with the help of our partner organisations

and communities aims to have large scale immediate impact on theground. The Svrán Open Design Foundation is a non-profit initiativeof ASU that seeks to revolutionize India through Design Think.” Hefurther informed that 100 schools across 17 states and leading or-ganizations across different industries with almost 50,000 employeeshave already become members of this revolutionary initiative evenbefore the formal launch.

To start with, SODF plans to provide 10,000 students with a De-sign Tools Pack that has basic design tools and tutorials to get themaccess to industry standard materials. It plans to train 1,000 school

Revolutionizing India Through Design ThinkI

t plans to train 1,000 school teachers in basic design principles indirectly impacting about200,000 students.

SODF

educatIon


teachers in basic design principles indirectly impacting about200,000 students. The Foundation has also appealed to Indian or-ganizations to join its cause, so as to greatly amplify its impact. Or-ganizations could contribute by way of time of their employees tohold workshops for students in schools and colleges, monetary con-tribution towards specific projects, or through donations in kindsuch as computers and DVDs. The first initiative, the Open DesignLive DVD Vol. 1 — a compilation of industry standard tools and tu-torials that can run without complicated installation (using virtual-ization and thin layer OS), is expected to be freely available byJanuary 30, 2014, and the physical distribution will begin by Febru-ary 2014 to schools across the country. On the formation of theSODF and its mission, Observer Dawn received the information asgiven below:Excerpts

What is design foundation and what inspired you to openSvra’n Open Design Foundation?The Svran Open Design Foundation was started with an ideationprocess of trying to discover what could fundamentally transformIndia. While India is a country of 1.2 Billion people, the policies, prod-ucts and services in their lives are designed by around a million peo-ple. We started with the notion that anything and everything can bedesigned, from a public policy, to a customer experience, to a supplychain. But if everything can be designed then everyone is a designer,and if everyone is a designer, teaching them and making them awareof design think, i.e. the universal fundamentals of design which ap-plies to all fields would transform the way they worked, and thustransform India.

Please elaborate on some unique features on SODF. Why do you felt that SODF is essential or is required in your educa-tion system?SODF is not just part of our internal education system, it seeks to ac-tively go out and impact one million people in three-five years. Weare working on three focused projects for the next six months, in-cluding giving people access for free to fourteen basic design tools(including CAD), educating for free around a thousand teachers ondesign think who would impact two hundred students each, leadingto two hundred thousand interventions, and getting companies tocommit to volunteer one hour of their employees’ time to come andtalk to school, colleges and communities on how they design theirown work. SODF is essential for our nation as no organization oreven the government is trying to teach the masses design think andinnovation, skills which are essential for the 21st century.

Do you think that SODF can also bring change to real estateindustry in India?Absolutely. Real estate is an industry that is heavily dependent on

design, from architecture and structures, to urban planning and pol-icy, to site supply chains, every bit of the real estate industry is im-pacted. This impact would not only be seen in the large real estatedevelopments. Imagine if even a small developer or house ownerin tier three town understood and practiced basic design principles- what an incredible impact that would have on the country. Imag-ine if people actually started to value, and are willing to pay premi-ums for well thought out and designed developments expandingtheir appeal beyond the urban rich. Design think and innovationhas the power to transform entire industries and the real estate in-

dustry is particularly influenced by good design and has been a vic-tim of bad design.

What are your future plans for the next three years?We believe in winning through the power of iteration. We have

around twenty ideas on the next steps for the foundation to takeand are actively working with communities and companies acrossIndia to see which ones would have the most impact. For now wewant to examine how effective our three focused programs will be,learn from our mistakes, and then only plan activities post that. Wedo however want to aim for a million people impacted in the nextthree to five years - that is our ultimate goal. Getting to that largenumber is going to be an exciting journey.

Apeejay Education Society was established by the Late DrStya Paul and then taken over by Mrs Sushma Berlia. Has thisbrought about any change in the management style and howhas this impacted the future of India’s education sector?Mrs. Sushma Berlia has been leading the Apeejay Education Societyfor decades under the mentorship and guidance of her father Dr.Stya Paul. This has been her personal social commitment apart fromher normal business interests and activities. She is a co-founder ofthe Apeejay Stya University, and is the person who drove to executethe vision on the ground to create it. Her management style hasevolved over the years, and while she derives a large amount fromher father, she has her own unique manner of doing things which isa combination of excellence, integrity, warmth and long term think-ing. Her impact on the education sector has been great over the pastdecades with active contributions on many government committeesand boards, influence on major policy decisions, as well as being aleader in chambers of commerce.

Could you please shed some light about the ethics of thegroup and the level transparency that exists within?The group is a multi-generational family business that has alwaysstood up for ethics and integrity. Philanthropy, particularly, in edu-cation was a lifetime passion of our founders, and is a guiding forcefor all our actions. Being privately held across our different businessverticals (education for us is not for profit and not a business) has al-lowed us to focus on what is important – contributing to the trans-formation of India and society, and being able to look at the longrun. We believe that when you are in the business for a long-run, itis the goodwill that ethical practices are able to build long term sus-tainable relationships, the trust of key stakeholders and ensures vi-brancy and opportunities. n

Mr. Aditya Berlia, Pro-Chancellor, Apeejay Stya University

TWIN TABLET TREAT FROM APPLE It has been a busy time at Apple Inc. Hot

on the heels of the new pair of iPhonescome the new iPads – the iPad Air

and iPad mini with Retina display.The iPad Air has a 9.7-inch dis-play and has the same resolution(2048 x 1536) as the previous

iPad, but what has changed is itsappearance – it is a mere 7.5mm thin

now and tips the scales at a mere 454grammes. No wonder Apple calls it the Air. The

innards have been boosted too – it is powered by the64-bit A7 chip and the M7 motion co-processor that was in-

troduced with iPhone 5s, making this a gaming and multimediabeast. Also on board are a 5.0-megapixel iSight camera and 1.2megapixel front-facing Facetime camera. There are two variants ofthis device, Wi-Fi only and Wi-Fi plus cellular, respectively for thestarting 16GB model. Put all those specs on a 7.9 inch displayand you have the new iPad mini with Retina display. Interms of appearance, it still looks like its predecessor,although at 331 grammes, it is a tad heavier.

Getting bigger…and better? After dipping its toes in the phablet phone

segment with the HTC Butterfly, HTC has nowgone the whole hog and released the ratherlarge 5.9-inch display sporting HTC One Max.The highlight of the device is its 5.9-inch dis-

play which comes with a full HD resolution.The design is reminiscent of the HTC One but

the Max is a heftier proposition – it weighsaround 217 grammes. It is supremely well en-

dowed in the hardware department and ispowered by Qualcomm APQ8064 Snapdragon

600 processor. It runs on Android 4.3 aka JellyBean operating system, with the HTC Senseoverlay, and also comes with the Ultrapixel

camera made famous by the HTC One. The de-vice has two variants – 16GB and 32GB – and

like most recent HTC devices, comes withspeakers in front. Connectivity options

abound and one has the option to expandmemory using a microSD card, but the most

outstanding feature of the device perhaps isthe fingerprint scanner at the back.

Apple iPad AirAnd iPad Mini With

Retina Display

HTC One Max

gadgets


BEAUTY AND THE BEAST

After doggedly steering clear of the large dis-

play phone segment, Nokia has finally taken

the plunge in spectacular fashion. The company

has unveiled the world’s first ever 6.0-inch dis-

play device to run Windows Phone 8 at the

Nokia World Conference held in Abu Dhabi – the

Nokia 1520. This full HD device flaunts a 6-inch

IPS LCD screen and is powered by a 2.2 GHz Qual-

comm Snapdragon 800 quad-core processor and

comes with 2GB of RAM. Internal storage stands

at 32 GB, and there is support for microSD cards

as well. And this being a high-end Lumia, the

camera is a special one too – the Lumia 1520

will come with a 20-megapixel shooter, bring-

ing high-class photography to the phablet seg-

ment. Making sure it never runs out of juce is a

3400 mAh battery and there are plenty of con-

nectivity options on board a well. The device

also comes with four microphones for better

audio quality.

THE GOLDEN CLAMSHELLHalf a decade ago, flip or clamshell phones were the rage with the

likes of the Moto Razr being style statements in their own right.And Samsung now has brought the form factor back seemingly

from the dead with its dual screen high end Galaxy Goldensmartphone. The Galaxy Golden is a flip phone with a dual

screens – and what screens they are. They are both 3.7 inchAMOLED display. The phone is powered by a dual-core 1.7GHzprocessor and runs on Android 4.2 Jelly Bean, with 1.5GB of

RAM and 16GB of in-built storage which is expandable toup to 64 GB. It sports an 8-megapixel camera at the rear

end and a 1.9- megapixel front facing camera to sup-port video calling. For connectivity there are optionslike Wi-Fi, GPS / A-GPS, NFC and Bluetooth. The hand-

set is backed by an 1820mAh battery. And yes, theGolden name tag comes from its champagne-like

colour. Sure, it looks very attractive, but it does notcome cheap – the Samsung Galaxy Golden is available

across the country at a price of Rs 51,900

Nokia Lumia

1520

SamsungGalaxy Golden



Everybody wishes to give a unique identity to theirhome and offices. Buying exotic and exclusive floor-ing is easy; installation is the biggest havoc for thesefloors, but not anymore with the new innovativeclick technology from DLH. DALHOFF LARSEN &

HORNEMAN A/S (DLH), leading timber brand presents the lat-est range of engineered floors with the innovative click tech-

nology that will surely add ease to your life as far as installationis concerned. This unique click technology is so easy to installthat it is DIY (Do It Yourself ) method. The Click Installation Tech-nology not only helps in minimizing the expansion and con-traction due to climatic changes, it also helps maintain thenecessary gap and the aesthetic value of the Engineered WoodFlooring.

Click TechnologyNow Floor Installation Made EasyE

ngineered flooring from DLH is a specially designed flooring solution most versatile for thedomestic application and will stand up to consistent daily foot traffic.

technology


The best part about this engineered wood floor is thatwhen it is sanded it refinishes its new look again. Engineeredwood floor is real wood, where the top layer hardwood canrange from 1mm to 6mm thickness. These floors can be usedon wood sub floor or dry concrete slab. This versatile & durable

flooring option has become a favorite within the homeowners.The prices of these floors in India starts from Rs 250/- sqft + In-stallation and taxes depending upon the category and speciesthat you choose for your space.

They are available at Dalhoff Larsen & Horneman A/S India,201, 2nd floor, grand mall, m.g. road, sikanderpur,Gurgaon - 122002. Contact no: 0124 404 3036, Faxno: 0124 404 3036, website: www.dlh-group.com.

Engineered flooring from DLH is a specially de-signed flooring solution most versatile for the do-mestic application and will stand up to consistentdaily foot traffic. The floors can create an atmos-phere of rich contrast with a captivating and entic-ing effect.

DLH intends to expand its position as one of theworld’s leading suppliers of timber and timber prod-ucts manufactured from sustainable produced rawmaterials. DLH is one of the world's major timberwholesalers with sales and procurement offices inmore than 25 countries on 5 continents. DLH be-lieves in professionalism, entrepreneurship andopenness – practiced responsibly in a global andmulticultural world. The ambition of DLH is to be theleading wholesaler of wood in the markets and Seg-ments. n

World’s largest air cooler com-pany, Symphony Ltd’s sub-sidiary Impco hassuccessfully executed and

commissioned a pilot project of central air-cooling,the first of several locations of the Dutch owned‘Makro’ chain of super-markets in Colombia, SouthAmerica. Further company is also in talks with theretail chain to air cool its other super-markets.After completing this order from ‘Makro’, Symphonyis hopeful to expand its industrial and commercialcooling business in South American market. Re-cently company also entered into tie up with retailgiant, Carrefour in Indonesia. Globally, company’sproducts have been endorsed by a number of cor-porate giants, namely General Electric (Illinois,

USA), Wal-Mart Stores etc. Mr. Achal Bakeri, CMD, Symphony Ltd said, “Thisproject was awarded to Impco after meetingMakro’s stringent performance and quality param-eters and their exhaustive technical evaluation. Weare hopeful that this will help expand our industrialcooling business not only in Colombia, but in othercountries of South America as well.”In the year 2008, Symphony Ltd acquired Mexico-based Impco Air Coolers, world’s first cooler manu-facturing company that patented the coolingtechnology called ‘Evaporative Cooling’ and one ofthe largest global manufacturers of industrial andcommercial air coolers. In the year 2010, Symphonylaunched industrial and commercial cooling solu-tions in India. n

Symphony to air cool ‘Makro’

chain of super-markets

In yet another milestone for Indian Real Estatesector, Parsvnath Developers Limited hasbeen bestowed with ‘Merit Award’ in the cat-egory of ‘Emerging Markets- Property Valua-tion’ by APREA (Asia Pacific Real Estate

Association Limited). The award was part of the2013 APREA Best Practices Awards for listed realestate entities. It recognizes Parsvnath Developers’commitment to enhancing the transparency andcomparability of public real estate markets in theAsia Pacific region.

APREA has played a leading role in representingand promoting real estate in Asia, particularly inthe areas of research and information, training forprofessionals and promoting real estate invest-ment in Asia. APREA’s membership is strongly rep-

resented across all countries in AsiaPacific, including Australia, Hong Kong,China, India, Japan, Singapore, the Philip-pines, Malaysia and South Korea.

After receiving the award, Mr. Pradeep Jain, Chair-man, Parsvnath Developers said, “The award isrecognition of the collective efforts of all the peo-ple associated with Parsvnath Developers Ltd. It isindeed a very proud and happy moment for theentire Indian real estate industry. We have alwaystried to maintain transparency at every level andcreate benchmarks for the sector. I would like tothanks APREA for giving us this award and recog-nizing our work. APREA, which started in year2005, has come a long way in promoting and fa-cilitating investments in the real estate sector.n

Parsvnath achieves ‘Merit Award’


desk news

Landcraft Group Launches 3 New Towers

River Heights is the maiden projectof Raj Nagar Extension launchedin 2008 by Landcraft DevelopersPvt. Ltd. The phase I comprising of700 units have already been deliv-

ered and 650 plus families are already residingat the site. After the success of Phase I, thecompany has launched the Three New Towersin Second Phase of the Project offering an-other 600 apartments of 1, 2 and 3 BHK. Thesizes of the apartments are 718 to 1665 sqft.The Price range starts from 23 Lakhs goesupto 45 Lakhs. The project has all the modernamenities for the comfortable living of the res-idents. The River Height Club is already oper-ational at the site with the facilities likeswimming pool, tennis table, chess table, in-door games, kids play area, kids library, ban-

quet facility etc. The project has earned ahuge appreciation from the rate of Rs.1900per sqft to Rs.3500 per sqft. The residents areenjoying a healthy living at River Heights. Thearea enjoys a good connectivity to Delhi,Vaishali Metro Station and entire GhaziabadCity. The good reputed schools are in closeproximity and Mother Pride Playway is avail-able inside the premises.Manu Garg, Director of Landcraft, says, it is anexcellent opportunity for the property seekerswho want to own a flat in Delhi-NCR region inaffordable segment. We have launched thesethree new towers at River Heights after receiv-ing an overwhelming response for our phaseI and are likely to get a good response forphase II. The tentative completion date of thephase II is 2016. n

Panchsheel Buildtech Pvt. Ltd, a leadingreal estate company of NCR has an-nounced the launch of its prestigiousresidential project ‘Pratishtha’. Strategi-cally located at one of the booming

destinations of Noida, at Sector 75, the project is aperfect combination of modern, luxurious andcomfort living.Surrounded with flowery landscape and lushgreen panorama Panchsheel Pratishtha providesan aesthetically pleasing lifestyle and the resi-dence comes up with 4 side open apartments of2, and 3 BHK, area ranging from 1310 sq. ft. to 2050sq. ft. and the price starts from Rs. 65 lacs. Spreadover 5 acres, these luxurious apartments roost inperfect harmony with the Vastu principles and

eco-friendly design.On the announcement of the project, Mr. AnujChaudhary, Director, Panchsheel Buildtech Pvt Ltdsaid, “We always believe in delivering the best toour customers and Panchsheel Pratishtha is anepitome of the finest luxury and an example of thebest amenities one will ever experience.Panchsheel Pratishtha offers a rare combination

of luxury living with best features to make you feelat peace with the place having all the modern fa-cilities which is certainly worth to your desires ofan exclusive style statement. It aims to be the mostsought after property in the region and is an idealaddress for you and your loved ones,” added Mr.Chaudhary. n

Panchsheel Brings in ‘Pratishtha’


Veteran Real Estate Marketing Pro-fessional Dr Kunal Banerji has re-joined M3M, the luxury RealEstate Developer of India. This ishis second innings with the com-

pany as Marketing Head. Previously, he was respon-sible for launching M3M’s realty brands like M3MGolf Estate, Polo Suites, URBANA, Cosmopolitanand Merlin.

In his 25-year experience, he has developed real es-tate brands for Ansal API, Unitech, TDI, Omaxe andShri- Infratech. In the area of luxury, he has worked

on Rolex, Piaget, Lanvin, Baume & Mercier, Mer-cedes Benz and Chivas while at O&M Singapore,London, Kuala Lumpur, Jakarta & Sydney. He hasspent time in the Middle East, USA, UK and SouthEast Asia at a senior level in different organizations.He has been a guest lecturer at the Kellogg Busi-ness School (Chicago) and at AMITY University.

A constant learner, he has made it his habit to up-date himself with the best business practices andha attended relevant courses at Harvard BusinessSchool (USA) and Judges Business School at theUniversity of Cambridge (UK).n

Dr kunal Banerji’s second innings at M3M

Encouraged by the overwhelming successof recent two editions of INDPACK held atHyderabad & Guwahati respectively, In-dian Institute of Packaging (IIP), the pre-mier Institute in the country and an

autonomous body working under Ministry ofCommerce & Industry, Government of India is or-ganizing its 16th edition of National Packaging Ex-hibition & Conference “INDPACK 2014” fromJanuary 16-18 2014. The packaging industry will witness the most pro-fessionally organized Packaging exhibition bring-ing a comprehensive range of Packagingequipment, services and Packaging technologiesfrom across the country & especially North regionto meet the sourcing requirements of Packagingand allied Industries. This 3 day mega event will beheld at the Hall no.7, Pragati Maidan, New Delhi. The main objective of INDPACK 2014 is to provideIndian Packaging Industry a unique platformwhere Indian Packaging Industry would showcase“State of the Art” Packaging Technology and Ma-

chinery, products and servicesalong with International compa-nies providing effective packagingsolutions in terms of Costs, Produc-tivity suitability and quality. Event is allset to take the packaging business to thenext level. Comprehensive range of packagingequipment, services and technologies from vari-ous leading industry players will be on display tomeet the visitor’s requirements of Packaging In-dustry. This year the buyers will see products from someof the largest and eminent Industry exhibitors.Apart from the Industry, many trade bodies, asso-ciation and State Governments have shown theirkeen interest to participation in form of a ThemePavilion. The event is supported by many industryassociation and Ministry of Commerce & Indus-tries, Ministry of Food Processing Industries, Govt.of India, Food Safety & Standards Authority ofIndia (FSSAI) & National Meat & Poultry ProcessingBoard, Govt. of India.n

INDPACk-2014

desk news


Gulshan Homz, a renowned name in therealty sector, has extended its supportto a budding Indian Formula Racer,Ankur Kushwaha. The company plansto fund and sponsor the races where

he will participate as the cost of such formula racedriving runs into lacs of rupees and even crores.Under the aegis of Gulshan Homz Ankur Kush-waha recently participated in Formula-4 competi-tion at Budh International F-1 Circuit organized byJK Tyres. With Gulshan Homz’s sponsorship, the buddingracer has participated in a recent Formula-4 raceheld at Budh International F-1 circuit where hedrove a BMW FB02 and will very soon be travellingto Italy for another racing competition. Mr. Deepak

Kapoor, Director, Gulshan Homzsays, “ realty companies have beensponsoring all those events which can helpthem sell their projects but very few have evercrossed that barrier where sponsorship is not justabout selling our own projects but for helping aparticular sport grow in our country. Our thoughtbehind sponsoring Ankur was to help a buddingtalent which otherwise will go waste without anadequate funding. The professional Formula rac-ing is a costly sport and needs a good number ofsponsors to take it further. We have tried to help agrowing talent and hope that others too, irrespec-tive of the sector they work will come forward tohelp such talented youngsters.” n

Gulshan Homz Extends its supportto Indian Formula Racing

Cosmic Group, a realtymajor, with projects inNCR, recently hosted aPolo Match at Jaipur PoloGround, New Delhi. The

event was marked by the presence of esteemedguests like Naveen & Shallu Jindal, PriyadarshiniRaje Scindia, Farooq Abdullah, Ashe raje Gaek-wad, Vinita Anand and Nikita Anand, SS Mundra,Rajan Bahadur (CEO, Grand Hotels)and Abhay Soi,Lt Gen NS Kanwar and Kamal Kanwar, Ma-hanaaryaman Scindia, Nafisa Ali and AngadKalaan. The event was organised by BLK SuperSpeciality Hospital and was supported by CosmicGroup which is a renowned name in the Realtysector with its projects in Delhi-NCR. There werematches played among various teams. The audi-ence comprising of prominent politicians, busi-

nessmen and bureaucrats enthusiastically en-couraged the players. Finally The team 'JindalPanther' owned by Mr. Naveen Jindal won thefinal match. Mr. Shekhar Muttreja while felicitat-ing the winners of the Polo Match said," Polo is agame which is enjoyed during winters in Indiaand we thought of a good gettogether andhence supported the event. The sports are actu-ally picking up in India and more and more peo-ple are getting enthusiastic about the sports. Weare looking forward for more such matches." Cos-mic Group has always been known for innovativethoughts whether in their realty projects or theevents they support. The company has recentlycome up with a residential project 'Urban Young'on Yamuna Expressway which is youth orientedand for youngsters. The concept all together isquite different. n

Cosmic Group hosted a Polo Match at Jaipur Polo Grounds


january 2014 issue

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