SUMMER TRAINING REPORT

CONDUCTED AT

STANLEY WORKS (INDIA) PVT. LTD.

ON

“UNDERSTANDING OF REAL ESTATE INDUSTRY

AND RESIDENTIAL BUYER”

SUBMITTED TO

Institute of Management Studies & Research, M.D. University,

Rohtak

In partial fulfillment for the requirement for the award of

degree of

Master of Business Administration.

SUBMITTED BY:-

Deepak Gulia

MBA – 5.9 Regn. No. 05-RUR-1027

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DECLARATION

I, DEEPAK GULIA, M.B.A(5 year), hereby declare that project entitled

“UNDERSTANDING OF REAL ESTATE INDUSTRY AND RESIDENTIAL BUYER”

submitted in the partial fulfillment of the degree for Master of Business Administration to

“IMSAR ROHTAK” is of my own accurate work.

I further declare that all the facts & figures furnished in this report are the outcome of my

own intensive research & findings.

DEEPAK GULIA

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ACKNOWLEDGEMENT

I am thankful to my industry mentor Mr. P.N. MISHRA for his constant guidance and

help in completion of this project.

I am grateful to my academic mentor Mr. JAGDEEP SINGLA for being a project guide

and for giving me all the freedom to work and helping and advising me throughout the

project.

(DEEPAK GULIA)

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CONTENTS

INTRODUCTION

COMPANY PROFILE

ABOUT MERITON GROUP

VISION

MISSION

PROJECT PORTFOLIO

STARTEGY

STRENGHTS

INDUSTRY OVERVIEW

REAL ESTATE INDUSTRY

REAL ESTATE IN INDIA

RESIDENTIAL REAL ESTATE DEVELOPMENT

INDUSTRY CHARACTERISTICS

CURRENT SCENARIO & FUTURE OUTLOOK

CHANGING DEVELOPERS PROFILE

OPPORTUNITIES

KEY PLAYERS IN RESIDENTIAL REAL ESTATE

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BASIC HOME TYPES

DECISION BEHAVIOUR SHOWN BY BUYER

HOUSING SELLING TIPS

SEVEN THINGS TO LOOK FOR IN A REALTOR

RECOMMENDATIONS

BIBLIOGRAPHY

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COMPANY PROFILE

India's leading Real Estate Developer

Established in 1972, Unitech today is India's leading real estate company with projects across the country. Unitech is known

for the quality of its products and is the first real estate developer to have been certified ISO 9001:2000 certificate in North

India. The Unitech brand is well recognised in India and was once again conferred with the title of “Superbrand” by

Superbrand India in 2010.

Unitech has the most diversified product mix comprising Residential, Commercial/Information Technology (IT) Parks, Retail,

Hotel, Amusement Parks and Special Economic Zones (SEZ).

The Company is also the recipient of the CW Architect and Builders Award, 2008 for being one of India's Top Ten Builders.

Unitech has long partnered with Internationally acclaimed architects and design consultants including SOM(USA), BDP(UK),

Maunsell AECOM(HK), MEA Systra(France), Callison Inc.(USA), FORREC(Canada), SWA and HOK(USA) for various

projects.

Unitech's clientele for commercial projects includes global leaders such as Fidelity, McKinsey, Bank of America, Ford

Motors, Nike, EDS, Hewitt, Amdocs, Ernst & Young, Reebok, Keane, Seagrams, Perfetti, Exxon Mobile and AT Kearney.

Unitech Ltd. and Norway Based Telenor Group (6th Largest Mobile Communication Provider in the world) came together to

build UNINOR - a telecommunication service company and is providing GSM services in 22 circles across India.

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Vision

To be India’s leading Real Estate company with a Pan-India Footprint, and be the

company of first choice amongst our customers to address their needs across all realty

verticals.

Mission

To satisfy every customer’s need for a better experience through quality construction and

employee contentment. Unitech has a well-managed architectural and engineering team

that has closely partnered and worked with internationally acclaimed architects and many

others, to achieve both aesthetic and efficient designs. We are a customer oriented

company and we believe in putting in our best foot forward in our journey to the

pinnacle.

Philosophy

A toddler learns his A,B,C’s from a school. He grows up to be a top notch executive

working in a cyber park. He buys a house to flaunt his independence. He unwinds in a

hotel and catches up with his friends in a clubhouse. He shops in a mall and takes his

family to the nearby theme park. And finally, satisfied, he hangs up his shoes in his

private villa. A common success story.

Except that, Unitech had been a part of his journey all along.

They say it’s a small world… We at Unitech believe we are the reason behind it.

We have laid the building blocks for millions of lives and humbly we continue to do so.

We are proud to have made the world a better place to be in.

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UNITECH is innovation

 Unitech entered civil engineering in 1974 with its sights firmly set on the future. And

that's where our vision is fixed today. Building upon experience and expertise Unitech is

constantly looking for ways to improve all our lives. From power transmission lines and

highways to theme parks, from steel plants to residential developments, from indoor

stadiums to hotels our work is often pioneering and always challenging. Our enviable

track record proves our ability to deliver. To view our achievements and see how we have

grown click on the arrows.

 

Click to enlarge

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MANAGEMENT TEAM

Mr. Ramesh Chandra is the Executive Chairman of Unitech. A graduate in civil

engineering from IIT Kharagpur, he has also obtained a masters degree in structural

engineering from the University of South Hampton (UK). Associated with the company

since its inception, he is the leading light of the real estate industry in India.

Ajay Chandra, son of Mr. Ramesh Chandra, is Managing Director of Unitech. He

studied civil engineering from Cornell University, USA and completed his masters in

business administration from University of North Carolina, USA. With the company

since 2003, he oversees the real estate operations and expansion into various geographies.

Sanjay Chandra, the other son of Mr. Ramesh Chandra, is also Managing Director of

Unitech. He has completed business management at Boston University, USA. With

Unitech since 2001, he has been responsible for the launch of various projects of the

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company. He is also responsible for diversifying the company into the telecom business

and is the Chairman of Unitech Wireless, which has its services under the brand of

Uninor.

Achievements

Unitech is known for the quality of its products and is the first real estate

developer to have been certified ISO 9001:2000 certificate in North India.

The Unitech brand is well recognised in India and was once again conferred with

the title of “Superbrand” by Superbrand India in 2010.

The Company is the recipient of the CW Architect and Builders Award, 2008 for

being one of India's Top Ten Builders.

Unitech scrip is one of the most liquid stocks in the Indian stock markets and was

the first real estate company to be part of the National Stock Exchange's NIFTY 50

Index.

Awards

Unitech’s The Great India Place in Noida has received the ISCF (Indian Shopping

Center Forum) award for the best design in the year 2008.

Unitech’s retail properties – The Great India Place, Noida and Metrowalk, Rohini

received the Cityscape awards ‘Seal of Distinction’ in the year 2009 for Real Estate in

Asia.

Unihomes - Ad Rating

Unihomes first campaign called ‘MERA HAI’ was launched in June 2009. This TVC

topped the charts on the attributes of ad diagnostics with 89 points while it scored a

whopping 100% on the likeability index. It scored a 94% on enjoyment, 81% on

believability and 80% percent on claim giving it a tally of 89. View Rating Superbrands

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INDUSTRY OVERVIEW

THE INDIAN ECONOMY

In recent years, India has experienced rapid economic growth. India’s GDP grew at 8.5%,

7.5% and 8.1% in fiscal 2003, 2004 and 2005 respectively. In fiscal 2005, the industrial,

agricultural and service sectors in India grew by 9.0%, 2.3% and 9.8% respectively. An

important factor in the growth of the services sector has been the strong growth of the IT

and ITES sectors. These sectors benefited from the growing international trend toward

off shoring and the resultant demand for skilled, low cost, English speaking workers.

Indian competitiveness in this area has been aided by substantial investment in

telecommunications infrastructure and the phased liberalization of the communications

sector. Economic growth is forecast at 7.6% in fiscal 2006 and 7.8% in fiscal 2007.

THE REAL ESTATE SECTOR

The term 'real estate' connotes land, including the air above it and the ground below it,

and any building or structures on it. It covers residential housing, commercial offices,

trading spaces such as theatres, hotels and restaurants, retail outlets, industrial buildings

such as factories and government buildings. Real estate involves the purchase, sale and

development of land, residential and non-residential buildings. The activities of the real

estate sector encompass the housing and construction sector also. Real estate is a major

employment driver, being the second largest employer, next only to agriculture. This is

because of the chain of backward and forward linkages that the sector has with other

sectors of the economy. About 250 ancillary industries such as cement, steel, brick,

timber, building material etc. are dependent on the real estate industry. A unit increase in

expenditure in this sector has a multiplier effect and the capacity to generate income as

high as five times. Contribution of housing and real estate to India's GDP is mearge 1%

against 3-6% of developing countries. If the economy grows at the rate of 10%, the

housing sector has the capacity to grow at 14% and generate 3.2 million new jobs over

the next 10 years.

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THE REAL ESTATE SECTOR IN INDIA

Historically, the real estate sector in India was unorganized and characterized by various

factors that impeded organized dealing, such as the absence of a centralized title registry

providing title guarantee, lack of uniformity in local laws and their application, non-

availability of bank financing, high interest rates and transfer taxes, and the lack of

transparency in transaction values. In recent years however, the real estate sector in India

has exhibited a trend towards greater organization and transparency, accompanied by

various regulatory reforms.

These reforms include:

GoI support for the repeal of the Urban Land Ceiling Act, with

nine state governments having already repealed the Act;

modifications in the Rent Control Act to provide greater protection

to homeowners wishing to rent out their properties;

rationalization of property taxes in a number of states; and

the proposed computerization of land records.

The trend towards greater organization and transparency has contributed to the

development of reliable indicators of value and the organized investment in the real estate

sector by domestic and international financial institutions, and has also resulted in the

greater availability of financing for real estate developers. Regulatory changes permitting

foreign investment are expected to further increase, investment in the Indian real estate

sector. The nature of demand is also changing, with heightened consumer expectations

that are influenced by higher disposable incomes, increased globalization and the

introduction of new real estate products and services. These trends have benefited from

the substantial recent growth in the Indian economy, which has stimulated demand for

land and developed real estate across our business lines. Demand for residential,

commercial and retail real estate is rising throughout India, accompanied by increased

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demand for hotel accommodation and improved infrastructure. Additionally, the tax and

other benefits applicable to SEZ’s are expected to result in a new source of real estate

demand.

The Indian real estate sector can be divided into the organized and unorganized segments,

with the unorganized segment accounting for over 70% of the housing units constructed.

The organized segment comprises private real estate developers and government or

government affiliated entities. The major players in the organized sector are Hudco, state

housing bodies and private real estate developers like DLF Universal Limited, Unitech

Limited, Ansal Properties and Infrastructure Limited, the Hiranandani group, the Raheja

group and Gesco. The industry is highly fragmented with most of the real estate

developers having a city-specific or region specific presence. The unorganized sector

comprises small builders and contractors, who primarily construct houses on a contract

basis with individuals. Real estate developers in the organized sector are actively

considering townships, multiplexes and shopping malls to drive their business prospects.

Regional real estate players characterize the industry, as there are no strong national

players in the sector. Some of the key developers are Parsvanath Developers Limited,

DLF, Unitech, Ansals and the Rahejas. Apart from developing residential/commercial

complexes, some established developers have diversified into hotels. For instance, in

Mumbai; the Hiranandani group has forayed into hotel through its hotels 'Rodas'; while

the Rahejas have established hotels in association with Marriott. Most established players

in the industry fund their projects through the promoters' contribution and intra-group

loans. The developer's ability to sell a large portion of its project in advance enables the

projects to be largely self-financed, even at an early stage. The developer's

reputation/land title also plays an important in influencing the selling price of the

projects. Secondary information on the financials of developers is not available.

However, according to industry sources, the margins on a residential property vary,

depending upon the location of the project, the amenities provided and the developer's

reputation/ title. While amenities have an impact on the construction costs, the location of

the project affects land costs and selling prices.

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Real Estate Scenario In India

The development of real estate in India is estimated to be around US$ 15 billion and it is

growing at a rate of 30 per cent every year. Almost 90 per cent of real estate developed is

residential space and the rest include office, hotels shopping malls and hospitals. This

kind of double-digit growth is primarily attributed to the off-shoring and outsourcing

businesses, such as high-end technology consultation, call centers and programming

houses which in 2004 are estimated to have accounted for 12 million square feet of real

estate.

The demand from the information technology sector certainly has changed the urban

landscape in India. According to estimation in India, there is a demand for nearly 70

million square feet of IT & ITES space over the next four and five years. Several

multinational companies continue to move their organizational operations to India to take

advantage of lower manpower and other costs. Providing human resources and home at

their work place assume great significance and therefore the requirement to create space

for people to live and work that in turn cause the development of other related

infrastructure. It has been a predominant trend to set up the world’s best business centers,

often campus-style establishments, bearing a distinguishing corporate stamp. Some of

these locations are so distinctive that they are termed as the "temples of new or modern

India". It is just an indication of the extent that the development of real estate taking

place.

Another case in point is Gurgaon, one of the national capital regions of India, which has

seen a fundamental change in not just its skyline but also in its fundamental urban

demographics. Gurgaon, a few years ago, was described as just a small town built on a

cow pasture. But in the past seven and eight years, it has witnessed 20 malls with many

more under construction and has a skyline of shining new office buildings and call

centers. Gurgaon is considered a shopper's paradise and the malls are similar versions of

their US counterparts: five story big bazaars which house almost every international

brand like McDonalds, Levis, Nokia, Nike and Tommy Hilfiger along with multiplex

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cinemas, escalators and large parking lots. The arrival of call center industry, information

technology houses and other such BPOs in India has led to an inflow of more than

900,000 new jobs. Outsourcing business has changed the real face of commercial real

estate in India, but its greater impact has been the demographic shift characterized by

rising disposable incomes and increased consumerism.

The real estate market in India remains unorganized, fairly fragmented, mostly

characterized by small players with a local presence. Traditionally, real estate developers

were viewed with an element of skeptical attitude. Developers were often identified with

dealing with large amounts of unaccounted money, lacking transparency and would use

unscrupulous means to acquire a variety of regulatory approvals.

Scenario of real estate in India is changing positively at a rapid pace. Developers

were understood as being risky as builders were very much known to borrow for one

project and utilize it for another. In addition, they overstretch their limits and not have

sufficient funding to complete the building construction. But things have changed clearly

these days. Initially, developers have perceived clearly the merits of corporatising

themselves and raising the value of transparency in terms of their financials.

RESIDENTIAL REAL ESTATE DEVELOPMENT

The growth in the residential real estate market in India has been largely driven by rising

disposable incomes, a rapidly growing middle class, low interest rates, fiscal incentives

on both interest and principal payments for housing loans, heightened customer

expectations, as well as increased urbanization and nuclearisation. Highlights of real

estate industry:

There is a shortage of 12 million housing units in urban areas;

There is scope for 400 township projects over the next five years spread across 30

to 35 cities, each having a population of 0.5 million;

Total project value dedicated to low and middle income housing in the next seven

years is estimated at $40 billion;

The retail market for mortgages is currently valued at slightly over $5 billion; and

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Considering that the outstanding loan to GDP ratio in India is less than 2%, the

mortgage

Market is expected to grow in excess of 25% over the next five years.

INDUSTRY CHARACTERISTICS

The real estate industry has the following characteristics:

■ Capital Structure: Construction activities are often funded by the client who may

make cash advances at different stages of construction.

■ Higher margin in commercial properties: Generally, a commercial project yields

higher operating profit margins than a residential project.

■ Leasing is an option for commercial properties: Unlike the residential properties

(which are sold outright), commercial space is either leased or sold outright. Under the

leasing option, the lease rentals received from tenants form a source of recurring cash

flow for the developer. This apart, the property rights remains with the developer,

enabling the property to be disposed of subsequently, if required.

■ Contingent Liabilities: Due to project based work, real estate companies often carry

substantial contingent liabilities in the form of guarantees in order to comply with

specific client requirements.

■ Development Risks: Profitability of each project is subject to risks of mispricing,

adverse conditions, geological conditions, management of specification changes and the

outcome of claims on competitions. As per AS-7 of the Indian accounting standards,

construction companies are required to recognize all losses incurred and foreseeable in

the respective accounting period.

■ Credit Risk: The strength of clients on whom the receivables are being generated is

important. Real estate developers usually secure project advances from clients to keep

them committed to the projects.

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CURRENT SCENARIO & FUTURE OUTLOOK

The real estate sector in India has assumed growing importance with the liberalization of

the economy. Developments in the real estate sector as a whole are being driven by:

Demand for more housing units in cities and towns because of growing

urbanization of Indian population, burgeoning middle class, increased

disposable income, easy availability of housing finance at cheaper rate

and tax incentives;

Demand for office premises by growing IT industry especially BPO;

51 Demand for shopping malls by growing retail segment;

Demand for multiplexes by evolving entertainment sector; and

Demand for hotels/resorts by growing tourism industry.

Housing units

India continues to face an acute shortage of housing units. Based on the 2001 census, the

housing shortage is estimated at 12.7 million units. The prime movers that are leading to

volume growth in the housing segment are population growth and urbanization. Further,

there is a boom localized to the organized urban housing segment, extending to relatively

Prosperous rural belts. The census of 2001 indicates an urbanization rate of 27.78%

which is expected to go up to 41 % in the next 20 years (based on a population of 1350

million) by 2021. This growing trend of urbanization coupled with the factors like faster

growth in incomes in the middle and higher income categories, decline in EMIs due to

the fall in housing finance rates and availability of tax incentives on housing loans are

pushing up the requirement for housing units in cities and towns. Earlier the cost of the

houses used to be in multiple of nearly twenty times the annual income of the buyers,

whereas today the multiple is less than 4.5 times. The multiple has come down mainly

because income levels have gone up, while tax rates have fallen. With less tax and more

income there is more money left with people to spend. The interest rate, which earlier

used to be between 16-18%, has halved and fuelled demand for housing units. Another

major contributing factor to boost the growth of residential housing property is income

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tax incentives on housing loans. Currently, income tax deduction is available on the

interest component (up to Rs. 150,000) on housing loans and a rebate of Rs. 20,000 per

annum on principal repayment. All these aforesaid factors acted as the growth booster for

the real estate sector.

Shopping Malls

Over the previous 10 years, urbanization has increased at a CAGR of 2%. The boom

witnesses in the service sector in India in the recent years, has not only pushed up the

disposable income of the urban populace, but has also made them more brands conscious.

This increase in disposable income coupled with more brand consciousness results in

higher sale of branded goods. With organized retailing accounting for nearly 17% of

branded sales, it is poised for sharp growth in the near future. In 2003, organized retail

sales accounted for roughly 2% of the total sales of the retail sector. As per industry

estimates, the retail industry is expected to grow at a CAGR of a little over 6% over the

next 5 years. Moreover, the proportion of organized retail sales to total sales is also

expected to increase to over 5%. Thus, the rising income level and changing outlook

towards branded goods will translate into higher demand for shopping mall space,

fuelling strong growth in mall development activities. As per industry estimates, mall

development activity across India in the tune of Rs. 55 billion is expected to take place

over the next 5 years. It is further expected that while mall development activity was

initially restricted to a few major cities like Mumbai and Gurgaon it will now onwards

extend to other cities like Surat, Pune and Ahmedabad thus causing a boom of real estate

activities in those cities.

Multiplex Cinemas

Another growth booster for real estate activities are growing demand for multiplexes. The

growth in multiplexes is being driven by the following factors:

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■ Multiplexes typically have 250-400 seats per screen as against 800-1000 seats in a

single screen theatre which gives multiplex owners additional flexibility, enabling them

to optimize capacity utilization.

■ Non-ticket revenues like food and beverages and the leasing of excess space to retailers

provides additional revenues to theatre developers. Further, growth of multiplexes is

being driven by favorable government policies. The Union Budget 2004-05 has provided

for a tax deduction of 50% on the profits earned by the multiplexes constructed between

April 2001 and March 2005 in non-metro towns. This initiative has resulted in most

major players announcing multiplex projects in smaller towns. The growth of multiplexes

is expected to push the growth of the real estate related activities

Hotels/Resorts

With the increase of disposable of income in the hands of upwardly mobile Indian middle

class, the propensity of spending a larger portion of their income on tours and travels are

going up. This factor, coupled with the changing lifestyle of Indian population, has

created demand for quality hotels/resorts across this country. In addition, India is also

emerging as a major destination for global tourism which in turn pushing up the demand

for hotels/resorts across India. This increasing demand for hotels/resorts across India, is

offering another opportunity for real estate development. This growth scenario, however,

may be adversely impacted by the following factors:

■ Price risk

■ Demand risk

■ Increased cost of development

■ Rising interest rate

■ Phasing out of tax incentives

Price: The first big risk which the developers face is price risk. Real estate price cycles

have a very significant impact on the margins of the developers, because land costs

account for a large portion of the constructed property. Real estate prices in the past

(1995 to 2001), have fluctuated during the span of procuring land, commencing

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construction of a project and its eventual completion, thereby exposing project developers

to the volatility of land prices.

Demand: The other significant risk to which developers are exposed is demand risk.

Demand risk for real estate developers covers a number of factors connected to the ability

to sell properties based on location, brand, track record, quality and timeliness of

completion. Most real estate developers try to address this risk by undertaking 53 market

surveys in order to assess the demand for their properties. In addition, demand is also

strongly influenced by policy decisions relating to housing incentives.

Cost of development: The costs in a housing project consist of land costs, construction

costs and employee costs. Industry sources suggest the prices of steel and cement, which

comprise a major portion of the construction cost, are expected to rise in coming 1-2

years. Steel and cement prices are expected to climb up by nearly 7% and 5%

respectively over the next year. As a result, overall cost of the housing projects will go

up. This increase in cost, however, is expected to be outpaced by the growth rate of

individual disposable income and therefore is not likely to dent the demand growth for

housing units.

Interest rate: Sustained availability of housing loan at a cheaper rate is one of the

reasons for growth in demand for housing units. Interest rate, however, has shown the

signs of hardening up during last few months and most of the leading financial

institutions have raised interest rates on housing loan. This trend of rising interest rate

may dampen the growth of demand for housing units.

Tax incentives: The existing tax incentives available for housing loan arealso one of the

major demand boosters. However, these tax incentives, based on recommendations of

various committees/panels are likely to be withdrawn. The Kelkar Panel had

recommended the phasing out the income tax deduction available on the interest on

housing loans for owner-occupied houses. The panel has recommended reducing the

deduction to Rs.100,000 for the assessment year 2004-05, Rs. 50,000 in assessment year

2005-06 and nil in assessment year 2006-07. This could act as a dampener for the

industry.

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INDIAN REAL ESTATE MARKET

The Indian real estate market offers cross-border investors with an attractive investment

opportunity underpinned by a booming and increasingly diversified economy, significant

potential for rapid expansion in FDI and a maturing real estate market. It will be those

investors who have a long term strategic vision and commitment to India that are likely to

be the most successful. India is reaping the benefits of 15 years of reforms, and its

economy is now set for a period of strong and sustainable growth. By 2010 India will be

the world’s third largest economy (measured in purchasing power) and is expected to

have a middle class of around 300 million people, larger than the USA. India has a large

skilled labour pool, with 2.5 million new graduates added to this pool each year, most of

whom are proficient English speakers with strong technical and quantitative skills.

Whilst the Indian real estate market still lacks transparency and liquidity compared

to more mature real estate markets, its market structure is changing fast in response to the

demands of multi-national occupiers. Jones Lang LaSalle’s latest Global Real Estate

Transparency Index (2006) shows that India has achieved one of the region’s most

significant improvements in real estate transparency over the past three years. Moreover,

the increasing participation of cross-border investors and the emergence of new

investment vehicles (including the likely s introduction of REITs as early as 2008) will

continue to force the pace of structural change over the remainder of the decade. A

significant weight of domestic and global capital is now chasing Indian real estate, but

activity is currently being constrained by limited availability of high quality product.

Singapore developers and US opportunity funds, which have dominated the cross-border

market so far, are focusing on IT parks and residential schemes. They are now being

joined by other Asian and European investors, who are currently exploring opportunities.

The market will see more investment by domestic and cross border real estate funds.

The residential sector is likely to offer the greatest opportunities over the short term,

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Residential Sector

Favourable demographics, urbanization, rising incomes and easier access to

finance are fuelling strong demand for residential accommodation. India has an acute

shortage of housing, with analysts assessing a shortfall in urban areas of over 20 million

unitsIndia continues to be saddled with a number of investment risks relating to low

liquidity levels, ownership and title issues, short leases and some concerns over long term

asset price inflation, added to which are the broader risks of an economy vulnerable to

economic shocks, infrastructure strain and environmental stress. Nonetheless, India is a

vast and diverse country, and risks can be reduced by careful location selection:

Tier I cities

Mumbai, Delhi and Bangalore will remain the preferred option for many new market

entrants, but there are fewer partnering opportunities. Mumbai and Delhi will both offer

diverse opportunities; Bangalore is firmly established as a global technology hub and its

economy is moving rapidly up the value-chain.

Tier II cities

These are currently favored – notably Hyderabad, Chennai and Pune – where there are

greater partnering opportunities. These cities are proving to be highly attractive business

locations, and are the increasing focus of corporate, retail and residential demand. This

has not gone unnoticed by investors, and the yield gap with Tier I cities has narrowed

significantly. Prime office yields in Tier II cities are in the range of 10.5-11.5%,

compared to 9.5-10% in Tier I cities.

Tier III cities

"First mover" advantage can still be achieved in some Tier III cities, with office yields in

the region of 12%. Kolkata and Ahmedabad, the largest Tier III cities, are displaying

impressive economic dynamism. Of the smaller cities, we favor Chandigarh, Kochi,

Mangalore, Mysore, Jaipur, Thiruvananthapuram and Bhubaneshwar. Goa offers good

potential in the hotel and leisure sectors. However, whilst these cities are attracting

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increasing occupier interest, the investment markets in these smaller cities are likely to

lack liquidity.

Special Economic Zones

SEZ’s are likely to be particularly attractive to cross-border players due to tax

concessions and one-stop development approval mechanisms.

A Booming Economy

Since the start of economic reforms in the early 1990s, India’s economy has

been growing at an impressive 6% per year, a rate that has accelerated to 8% during the

last three years. The progressive liberalization of government policies, a rapidly

expanding service sector, FDI growth, a surge in exports, rising global competitiveness

and increasing domestic demand have all contributed to a strong economy. India’s

economic boom is set to continue, and the pace of economic growth shows no signs of

slowing. With forecasts of economic growth rates of at least 6-7% per year, India is

expected top become the world’s third largest economy (measured in purchasing power

parity) by 2010.

Favourable Demographics

India has a large, young and urbanizing Population. The country’s population of 1.1

billion is set to continue to increase until at least 2030, before stabilizing at around 1.5

billion, by which time India will have overtaken China as the world’s most populous

country.

India has a young profile. Half of its population is under 25 years, and

the country’s median age is 24 years (2005), compared to 33 in China

and 43 in Japan.

The country is urbanizing at a rapid rate of 2.5% per year. The

number of cities over one million is expected to double from 35 in

2001 to 70 cities by 2025. India’s "Mega-Cities" of Mumbai and

Delhi will be the world’s 2nd and 3rd largest cities by 2015.

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A Large Skilled Labor Pool Rising Disposable Incomes and a Large Middle Class

Significant Growth Potential in FDI A Deepening Corporate Base IT Successes

Extending to the Broader Economy Improving Infrastructure . All Leading to Rapidly

Expanding Real Estate Markets

IMPACT OF OTHER SECTORS ON REAL ESTATE

Real estate is emerging as one of India’s fastest growing sectors, and all sectors are

expected to expand rapidly:

Commercial Offices: Strong growth in the demand for commercial office space

will continue to be fuelled by the rapid expansion of the IT and ITES sectors,

which are growing at more than 30% a year. Employment in IT and ITES

currently stand at nearly 1.3 million, and is expanding by well over 200,000 jobs

per year (equivalent to an additional office requirement of more than 20 million

sq ft per year). Over the medium term the opening up of the economy is expected

to lead to a broader occupier base, as Indian business services expand in response

to domestic demand.

Retail: India has huge potential for retail expansion, with rapid growth

underpinned by favorable demographics, increasing urbanization, rising

disposable incomes, low interest rates, brand competition and youth culture. The

sector is also undergoing structural change, with leading domestic retailers going

through rapid growth, format migration and consolidation. The pace of change is

likely to accelerate as foreign investment in retailing is liberalized – the

government has taken the first steps in 2006 by allowing 51% FDI in "single

brands" retail outlets. Increasingly, organized retailing will focus on smaller cities

(of over 1 million population), which are still largely unexploited.

Residential: A residential boom is being fuelled by rapid salary growth of young

urban professionals and easier access to finance. The average age of homeowners

has fallen from 45 years to 32 years in only a decade. India has a serious shortage

of housing, with analysts assessing a shortfall in urban areas of over 20 million

housing units. The government is targeting 700,000 units to be built in urban

areas each year.

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Hotels: Increased business travel (due to the economic boom), higher

international and domestic tourism and the emergence of low cost airlines have

fuelled strong demand for hotel accommodation. But, whilst tourist arrivals have

risen steadily (international tourist arrivals rose by 12% in 2005 to 3.3 million),

India has so far failed to exploit its massive tourism potential, attracting only

0.4% of world tourists. The country has an acute shortage of hotel rooms. With an

estimated 26,000 rooms in the branded sector, the WTTC has forecast a

requirement for additional 100-125,000 rooms over the next decade.

Logistics: A relatively dormant sector currently, logistics has good long term

potential as manufacturing expands, exports grow and leading retailers enhance

their logistics processes. Investment has begun to flow into logistic parks,

however world class infrastructure is still lacking. Infrastructure development will

need to keep pace with the transformation of the logistics markets for

development interest to be fostered

Changing Developer Profiles

Traditionally dominated by family-run and local players, the Indian construction and

development industry is rapidly consolidating, and we are seeing the emergence of a

growing number of pan-Indian construction and development companies. Increasing

exposure to global capital markets is encouraging increasing transparency and

professionalism in the developer community. Transparency will improve further as more

developers seek public listing.

Rising Quality of Real Estate

Developers are now more attuned to the demand by both domestic and foreign

companies; and tenants are driving an improvement in the quality of commercial real

estate development, with the emergence of state-of-the-art campus developments. There

has been a notable shift in the co-ordination of construction projects from the architect to

project management providers, resulting in significantly improved delivery standards.

Investor Activity

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An active domestic commercial real estate investment market has gradually emerged

since the beginning of the early 2000s, in response to growing demand for modern

commercial space. Since 2005, the investment market has grown rapidly, due to

perceptions of strong market fundamentals with good long-term growth prospects, the

emergence of specialist real estate vehicles and the participation of foreign investors.

India is now on the radar screen of many cross-border real estate investors, and a

substantial weight of both domestic and global capital in now seeking real estate

investment opportunities in India. The current investment market includes active

participation from domestic real estate funds, institutions, high net-worth individuals and

local developers. Domestic debt also remains strong as a financing option, primarily in

the form of construction finance as well as lease rental discounting. Cross-border

investment activity is currently dominated by Singaporean and other Asian players, and

US opportunity funds. A number of European players are also now looking at options to

enter the market.

Domestic Participants

The domestic equity route comprises four main groups – dedicated real estate funds,

institutional funds, high net worth individuals and developers:

Dedicated Real Estate Funds

The last two years have seen the mobilization of investible funds by several dedicated

real estate funds, such as Anand Rathi Real Estate Opportunities Fund, Dewan Housing

Realty Fund, Kshitij Fund, TCGRE, Reliance Private Equity, etc. Historically, their focus

has been on India’s "primary" cities - Bangalore, Delhi and Mumbai, but such funds are

increasingly seeking out opportunities in "secondary" cities, such as Hyderabad, Pune,

Chennai and Kolkata.

Institutional Funds

Major financial institutions such as ICICI, HDFC, IL&FS and Kotak Mahindra have all

launched real estate funds, either as joint ventures or sole investors. Most institutional

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funds operate on a pan-Indian basis, and are increasingly looking at opportunities in Tier

III cities, in order to gain "first mover advantage".

High Net-Worth Individuals

India has a large community of high net-worth individuals (HNIs) and family-run

businesses, which have substantial funds to invest in real estate. Significant investor

interest has also been expressed by cash surplus non-resident Indians (NRIs), primarily

from the USA. HNIs are increasing their presence in residential, commercial and retail

space. They mainly invest directly into real estate assets.

Domestic Developers

Domestic real estate development companies have increasingly participated in land

auctions and have invested in buying land for development purposes. Most development

companies participate with an equity partner / institutional fund when bidding for land

parcels. Some development companies are now looking at a listing in the stock exchange

as a means of securing additional equity capital to fund their growth.

Cross-Border Participants

There are a number of cross-border investors active in the market. Their entry has largely

been through the development route or venture capital funds, and their focus so far has

been on IT Parks and Residential Townships.

Foreign Developers

Developers from Singapore, such as Ascendas, GIC, Keppel Land, Capita Land and Lee

Kim Tah Holdings are the most active group. Ascendas, one of Asia’s leading business

space providers has been active in India since 1999, and owns IT parks in Bangalore and

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Hyderabad, and is building IT parks in both Chennai and Kolkata. Ascendas launched a

$350 million India IT Parks Fund in 2005 with GE Capital subscribing $US 63 million.

Most Asian development companies have focused on Tier I cities, primarily in residential

and commercial assets. Other Asian developers include Emaar (based in Dubai), which is

developing integrated townships in India’s Tier I and II Cities. In January 2006, it

announced a $US 4 billion joint venture with MGF Land, representing India’s largest real

estate FDI.

Real Estate Funds

Real estate funds, including private equity funds as well as dedicated real estate funds,

are increasingly becoming the preferred entry route for cross-border investors,

particularly amongst US opportunistic investors. Tishman Speyer, Vornado Realty, GE

Capital,Warburg Pincus, Citibank, Apollo Real Estate and Morgan Stanley are all active,

mostly through JV real estate funds. Tishman Speyer, for example, formed a joint venture

in April 2005 with ICICI Ventures, the private equity arm of ICICI bank. TSI Venture

Funds plans to invest close to $1 billion New office building in Bangalore over the next 5

years.

OPPORTUNITIES

Residential Growth Drivers : Rising disposable incomes, particularly among young

urban professionals and easier access to finance is fuelling a residential boom in India.

The key drivers are:

• A growing middle class and increasing urbanization, resulting in acute

shortages of housing units in urban areas.

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• An increase in the rate of household formation, due to a structural shift

from a joint family system to nuclear families.

• An increase in disposable income levels, due to a decrease in marginal

tax rates and increase in total incomes.

• Changing attitudes to home ownership – the current average age of a

new homeowner is now 32 years, compared with 45 years a decade ago.

• Increasing affordability of residential property, due to declining interest

rates. Increasing availability of finance - the last few years have seen the

home loans market grow at an annual rate of 30%.

According to the government's 10th Five-Year Plan, which ends in 2007, the

country is facing a housing shortage of over 20 million units. The plan estimates the

country's housing requirement at 4.5 million units per year. The government aims to

provide housing for all its citizens by 2012, requiring an investment estimated at close to

$800 billion.

Investment Opportunities

Cross-border developers, including Keppel Land and Emaar, are active in the residential

sector, but are focusing on the larger cities because of FDI requirements to develop large

plots (i.e. over 10 hectares). Prime yields are in the region of 4- 6%. Domestic developers

are increasingly focusing on Tier III cities such as Jaipur, Lucknow, Ludhiana and

Nagpur. Cross border investors are evaluating residential investments keenly as they

provide a shorter investment cycle, with a predefined exit to end owners of the

apartments within 2-3 years. A strong underlying demand from end owners has created

stable and higher returns for investors and developers. A key trend in the residential

sector is the emergence of the integrated township formats. With large land parcels being

available outside the city limits of the major cities, developers are moving towards large

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integrated developments, which have commercial, retail, residential, leisure and medical

facilities (with Special Economic Zones status). Examples include Hiranandani Gardens

(Mumbai), Boulder Hills (Emaar development in Hyderabad), JP Nagar (Keppel Land

development in Bangalore) and Magarpatta City (Pune).

The Geography of Opportunity

India is characterized by major differences in the economic, business and socio-cultural

environments between its main cities and regions. Significant variation in regional

economic growth rates have emerged, leading to a widening gap between the economies

and real estate markets of the more advanced regions, compared with the rest of the

country.

The more advanced cities of western and southern India have benefited most from the

opening up of the economy over the past decade, and they are expected to continue to be

the most dynamic of the coming decade. These states contain India’s wealthgenerating

commercial hubs, its best quality labour pools and infrastructure, and are the most

successful in attracting FDI, due to their more open business-friendly environments. In

contrast, large areas of northern and eastern India remain economically backward,

including the two highly populous Ganges Basin states of Uttar Pradesh and Bihar (which

alone contain one-quarter of India’s population).

Tier I Cities

The first choice for new market entrants Mumbai the commercial hub Delhi the political

capital Bangalore the technology hub Have been the pioneers of Indian real estate

growth since the late 1990s. These three cities command by far the highest international

profiles and have attracted a significant proportion of FDI; they provide the largest and

most qualified labour pools, the best infrastructure and have developed the most

advanced real estate formats. Bangalore remains at the forefront of the global IT

outsourcing trends. Delhi and Mumbai, as India’s two largest city economies, have

developed a diverse range of real estate activities, and as well as rapidly expanding

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suburban office markets, have led India’s retail and residential development booms. Tier

I cities are likely to remain the preferred option for multi-national companies entering

India for the first time, and they will still be the first "port of call" for most foreign real

estate investors.

Tier II Cities

Rising rapidly on the radar screen Hyderabad, Chennai and Pune Tier I are facing

strong competition from Tier II cities. Business costs have increased and labour shortages

have emerged in Tier I cities, and as familiarity with India as a business location have

grown, more domestic and foreign firms are now considering Tier II cities for their

expansion plans, or even as their first step into India. Hyderabad, Chennai and Pune are

proving highly attractive business locations, due to their competitive business

environments, human resources availability, telecommunications connectivity, quality of

urban infrastructure, transparency of governance and availability of real estate. As well as

attracting high value IT, ITES and biotech activities, these cities are also the focus of

major domestic retail players, attracted by the rising aspirations and incomes in Tier II

cities.

These trends are being echoed in real estate investment; Hyderabad, Chennai and

Pune are the focus of increasing investor activity, and the yield gap between Tier I and II

cities has narrowed to as low as 100 basis points. Some of the largest and most high

profile developments by cross-border developers are in Tier II cities.

Tier III Cities

During the last two years, more firms have begun to evaluate the viability of locating in

Tier III cities, and India is now seeing a gradual widening of its real estate base into a

larger group of cities. This trend is being led by domestic IT and ITES companies such as

Wipro, Infosys, and Satyam, and the more established foreign companies, such as IBM,

Microsoft and Dell. Jones Lang LaSalle has identified 18 Tier III cities that have the

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potential to emerge as important real estate markets over the next five years. The most

successful cities are likely to fall into two groups:

• Large cities, such as Kolkata (pop’n 13 million) and Ahmedabad (pop’n 5 million),

which have historically lagged Tier I and Tier II cities, but by virtue of their size, labour

market quality and economic dynamism, are expected to attract substantial real estate

activity. Kolkata (West Bengal) has transformed from an insular communist economy

into a business-friendly IT hub.

• Smaller Indian cities (many with populations around the one million range), which will

compete successfully for business due to superior education levels, a higher quality of life

and urban infrastructure, good proximity to primary cities and their cultural and tourist

offer. Chandigarh, north of Delhi designed by Le Corbusier and Kochi on the Kerala

coast stand out, but cities such as Jaipur, Mangalore, Mysore, Thiruvananthapuram and

Bhubaneshwar are also attracting increasing corporate interest. Domestic funds and

developers are active in Tier III cities in order to achieve "first mover advantage" and

benefit from yield compression. However, many of these Tier III markets will continue to

lack liquidity over the medium term.

RESIDENTIAL SECTOR BOOMING IN INDIA

-ANALYSIS OF MAJOR METRO CITIES

MUMBAI

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Mumbai, the capital of Maharashtra, is the financial and economic nerev centre of the

country. The Reserve Bank of India, the two most active stock exchanges in the country,

National Stock Exchange and Bombay Stock Exchange, Securities and Exchange Board

of India and numerous financial service providers have their headquarters in Mumbai.

Here go a few salient features of the city's residential market at present:

Hightened activity in terms of demand, supply and values.

Almost 80 per cent of the real estate development underway currently in Mumbai is in

the residential sector.

Many international players, in joint venture with the local developers, have now

ventured into the real estate market of Mumbai.

2006 saw an increase in the high value residential transactions in Mumbai. High

demand and lack of supply has put a constant pressure on the SOuth Mumbai residential

prices.

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The golden triangle of Malabar Hill, Breach Candy and Carmichael Road in south

Mumbai continue to rule as the most expensive residential locations in the country with

certain residential property transactions going as high as Rs 45,000/square foot.

An estimated supply of 82.31 million square foot of Grade-A residential space is

expected to come up in Greater Mumbai, Thane, Kalyan and navi Mumbai by 2009-2010.

Be it in the heart of the city or the peripheral locations, people across all income

groups have shown a preference to take apartments with varied amenities. The growing

trend in all newly constructed buildings is to cater to the luxury needs of the new age

buyers.

PUNE

Pune, with a population of 4.5 million, is the second largest city in Maharashtra. The city

is reputed for its educational institutions and is the eighth largest urban agglomeration in

India.

Pune today is home to many IT/ITES companies and also has a strong presence in the

automobile sector. Its proximity to Mumbai has accelerated real estate activity in the

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region. The Mumbai-Pune expressway, which connects both the destinations, has made

Pune a much sought after destination for out-of-town investors.

Residential development in the city has geared up to keep pace with the rise in demand in

the sector. Pune's residential market has evolved through diverse consumer profiles and

preferences leading to a significant change in project profiles, housing patterns and

Facilities offered.

Here are a few salient features:

Traditionally, residential developments were concentrated around the city core in

locations like Model Colony, Koregaon Park and Senapati Bapat Road.

Presently, residential expansion has extended to upcoming locations near educational

institutes and IT parks like Rahatni, Pimple Saudagar, etc.

Noticeable development is also seen in the eastern part of the city in regions like

Hadapsar, Kharadi etc which are emerging as key suburban business destinations.

Approximately, 70.83 million square foot of residential supply is expected to enter the

market by end of 2009-2010.

Development of knowledge corridor along the Mumbai-Bangalore highway and the

upcoming phase III of the Rajiv Gandhi Infotech City at Hinjewadi have provided

impetus to residential development in western Pune that includes places like Baner,

Wakar etc.

With investments in all the sectors in Pune, a number of high-end premium apartments

can be seen in various pockets where rates are directly proportional to amenities

provided.

Shaniwarwada Fort of Pune is the city's proud landmark. The fort is a hallmark of

Moghul design and Maratha craftsmanship, a timeless masterpiece. Pune has come of

age, thanks to the booming IT industry. It is now strewn with a number of upmarket

bungalows like the one seen above..

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Hyderabad

Hyderabad, capital of Andhra Pradesh, is known for its heritage, hospitality and a

thriving software industry. It is one of the largest metropolises of India witha population

of about 6.1 million people, spread over approximately 625 sq km.

The city that once predominantly depended on engineering-based industries and trade as

sources of income has seen a dramtic change over the last few decades.

With the IT boom, companies like IBM, Microsoft, Perot, Accenture, CA, HP, GE,

Convergys and Franklin Templeton have set up officesin the city.

This led to the development of infrastructure facilities and the general growth of the

contiguous locations surrounding the Hitech City area, also referred to as Cyberabad.

Given below are some salient features of the real estate industry of the city:

In recent times, owing to the interest generated in the Hitech City, real estate

development has picked up considerably in the adjoining Gachibowli area where a

number of campus developments by IT majors like Microsoft, Infosys, Wipro etc are

located.

Hyderabad also houses a number of prestigious institutions like Osmania University,

ICFAI and the Indian School of Business. the floating population of students from these

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universities has impacted the lifestyle and real estate trends of the city. While a few years

ago, students stayed in hostels, nowadays they prefer to share apartment accommodations

with batch mates.

Till a decade ago, the mid-end residential development in Hyderabad was largely

concentrated in lcoations like the Uppal Zone, Dilsukhnagar, Koti, Secunderabad etc

while the localities of Banjara Hills, Jubilee Hills and nearby areas continued to be

premium locations. The market in these locations soon became saturated and due to non-

availability of land parcels, builders were forced to move to other locations.

Consequently, large scale developments ate now seen in locations like Kukatpalli,

Madhapur, Miyapur, Gachibowli, Nizampet, Kompally and Gopanpalli.

While the real estate market in Hyderabad has witnessed an immense amount of

activity in the last decade, there has been unprecedented boom in the last two years and

residential capital values have witnessed a rise of about 75-130%. An estimated

residential supply of about 56.31 million square foot is likely to enter the Hyderabad

market by the end of 2009-2010.

Age-old Charminar (top) has lost neither its historic imprtance nor charm. Stand alone

row houses like the one seen here (bottom) represent the real estate transformation that

Hyderabad has seen in recent times.

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Banglore

Bangalore has long been the favourite destination of people from all over India. Over the

years, it has evolved from being a 'Garden City' to the 'Silicon Valley' of India.

Favourable socio-economic changes and a salubrious climate are driving the demand for

the housing sector here. Besides this, a number of progressive government policies have

come into force to address the infrastructure issues like power and roads. The city has

been expanding rapidly to meet the demands of IT/ITES and other related sectors.

Some of the salient features of the city's real estate sector are given below:

The city's real estate sector is on a constant growth curve in the suburban and

peripheral locations.

It is estimated that the city will have a residential supply of approximately 64 million

square foot by 2009-2010.

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The Bangalore residential market can be divided based on its geographical pattern into

the following zones: Bangalore North, South, East and West.

CHENNAI

Chennai is the fourth largest metropolis in India with an estimated population of over 7

million. It is a city steeped in culture and tradition and was once regarded as the focal

point of economic activity in south India where people from different cities used to

migrate for want of better opportunities.

Chennai residential market is on an unprecedented high and this is expected to further

increase in the coming years.

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The IT corridor set up along the Old Mahabalipuram Road starting from Madhya

Kailash to Serusri, is seen as the prime driver of this growth.

Approximately, 20.8 million square foot of residential space is expected to enter the

market by 2009-10 of which about 4.2 million square foot of Grade A housing is

expected to come up in the current year.

The advent of 100 percent foreign direct investment in real estate has resulted in entry

of multi-national companies in the market, prominent among them is ETA Star, a

subsidiary of ETA-Ascon Dubai, coming up with a township project near Sriperumbadur

close to the electronic corridor.

National developers and prominent city builders like Hiranandani Pvt Ltd, Ceebros,

XS-Realty, Arihant, Sobha Developers, Citilights, Puruvankara are all coming up with

new projects predominantly in the high-end apartment sector.

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KOLKATA

Kolkata is the main business, commercial and financial hub of eastern India. The city is

famed for its rich cultural heritage and distinc socio-political set up.

The city in the past had become a stagnant state with bureaucratic upheavals impeding its

pace of growth. However, in recent years, Kolkata has witnessed a sea change in its

economic structure, leading to a rise in the city's growth.

This revival can be largely attributed to IT services with a number if prominent IT

companies locating to the city. The movement of corporate into the city has led

developers to come up with large number of high-end residential projects.

Given below are a few salient features of the changing city:

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Proactive government measures to curb disorganized real estate development by way

of entering into joint ventures with developers have resulted in planned expansion of the

city.

Besides its economic resurgence, Kolkata has witnessed a change in consumer

preference for housing requirement. Conventional joint family set up has given way to

nuclear families with requirement for modern apartment-style living.

The aspiration levels of the city's residents have risen due to the increase in job

opportunities. Investing in a second house has become a preferred option.

KEY PLAYERS IN REAL ESTATE

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Omaxe Ltd has established itself as a premier real estate development company in India.

In the last18 years since it laid its first brick, Omaxe has grown multi-fold and has a

strong presence in every sphere of real estate activity in India. All its projects carry the

stamp of excellence that match the best in the world.

Founded by CEO and MD Rohtas Goel in 1989, Omaxe is a frontrunner in real estate

development in India and at par with established developers with longer experience in

terms of quality and delivery.  By 2006, it had executed over 100 projects, and been

retained by a number of blue-chip companies and institutions such as Amity University,

Apollo Hospital in Ludhiana,  Apeejay Group, IIT, Delhi High Court, Coke, Pepsi,

Samsung and LG . Green Valley in Faridabad, Habitat Floors in Ghaziabad, South Avenue,

Mayfield Garden, Olive in Gurgaon are striking residential properties of the OmaxeGroup

 

In the last five years, it has executed 10 major projects, 8 of these in the residential

segment, and 2 commercial, covering 5.13 million sq. ft. Omaxe takes pride in delivering

projects on time and is building on its strengths with 46 projects at various stages of

development. Of these, 19 are group housing projects, 13 integrated townships, 13

shopping malls and one hospitality venture. Concentrated largely in Central and North

India, it is developing at present 140 million sq. ft of area across 30 towns in 9 states.

Omaxe is one of the first companies to receive the ISO 9001:2000 certification, and a

rating of 5A2 from Dun and Bradstreet, which connotes a healthy financial base and

competitive trading practices. The company has also been conferred a number of awards -

"the Svedala", "Udyog Ratna", Pride of the Country from the Society of Industry and

Business Achievements, Arya Vaidya Sala and the Industrial Award to name a few.

Strengths

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The Company strives to match international standards and maintain integrity,

transparency and high ethical standards in its services. Omaxe introduced the ‘sample

flat’ in the group housing market which has now been adopted by all builders operating

in the Indian realty market.

Keeping commitments have been the cornerstone of the success that Omaxe has achieved

in its short history. In fact, the company was one of the first to impose the Penalty Clause

on itself to protect the customer from delayed hand-over of flats. Omaxe gains its

strength from executing all its projects in-house, and does not engage in sub-contracting.

This ensures maintenance of quality and timely completion and projects. It has been able

to keep pace with the latest in construction technology, and upgrade its expertise to meet

growing expectations.

Residential

Omaxe has ventured into quality construction projects in Haryana, Himachal Pradesh,

Madhya Pradesh, Punjab, Rajasthan, Uttaranchal and Uttar Pradesh. 27 projects are

currently in various stages of planning and construction. The Forest in Faridabad stands

out among the verdant environs of the Forest Zone and Aravallis in Faridabad, with the

Badhal Lake in the neighborhood.The Forest, Noida is Omaxe’s most exclusive project yet,

set on 325 acres of land with only 25% of it covered by 105 apartments.

Some of the upcoming projects are:

Omaxe city, Mayakhedi, Indore

Omaxe city II, Manglia, Indore

Omaxe city, Jaipur

Omaxe habitat floors, Bhiwadi

Omaxe heights, Lucknow

Palm greens , greater noida

Omaxe twin towers, noida

Omaxe park woods, baddi

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The forest spa , noida

Grand woods, noida

Omaxe north avenue, bahadurgarh

Omaxe hills, faridabad

Omaxe spa village, faridabad

Omaxe Riviera, rudrapur

Omaxe royal residency, ludhiana

Omaxe greens, derabassi

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The Ansal Group is a conglomerate of 35 companies, with Ansal Properties and

Industries Ltd, (Ansal API); Ansal Housing and Construction Limited, (AHCL) and

Ansal Buildwell Ltd. (ABL) at the core of the Group. All three are public limited

companies, and engaged in the entire gamut of civil construction and real estate

development activity in India and abroad. All three companies have acquired the ISO

9001-2000 certificate.

Ansal Housing and Construction Limited (AHCL) started operations in 1986, and has

undertaken 67.6 million sq. ft of real estate development in Delhi-NCR, Mumbai and Tier

II cities in Uttar Pradesh, Madhya Pradesh and Haryana. The company has performed

well in the current fiscal year with higher production and sales volumes.

STRENGTHS

The Ansals brand enjoys the patronage of domestic and overseas customers and has built

up a reputation for its focus on quality and adherence to timelines. Its strength comes

from its dedicated team of professionals and specialists. Ansal API has been awarded the

"Most Trusted Real Estate Brand" by Reader’s Digest in 2006.  Its responsible efforts

towards the environment during the execution of all its projects have earned Ansals API

the prestigious Certification of Environmental Management System, ISO 14001:2004

from the Kvalitet Veritas Quality Assurance (KVQA), accredited to NORSK of Norway.

The company has its own advisory panel of highly qualified environmentalists who check

out on the eco-viability of every project.

The stability of the Ansals group is reflected in its top-of-the line clientele - HDFC

Group, ICICI Prudential, Reebok, Citibank, Adlabs, and Iffco-Tokio, to name a few.The

group has a talented in-house team of architects, engineers and planners in its consultancy

division to execute its projects, though external services are also taken in specialized

areas.

RESIDENTIAL

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Ansals API ventured into residential property development in the 1980s and 1990s.  The

group made inroads with integrated townships and apartments in Gurgaon, Lucknow,

Mumbai, Bangalore, Vaishali, Ghaziabad, Haridwar, and Bhopal covering a combined

acreage of 949. Residential apartments occupy another 2.1 million sq. ft of area.

In the last decade, AHCL has penetrated further the markets of Ghaziabad, Greater

Noida, Agra and Ludhiana, stepping up its quality of construction with every project to

meet growing demands.ABL has developed an array of housing units in Sushant lok II

and II, Gurgaon for the middle-income group. Its current projects aimed at the higher end

of the market are in progress in Delhi and Gurgaon. It is also in a joint venture for a

residential apartment complex in Kathmandu with the Choudhary Group in Nepal.

Some of their forthcoming projects are:

Township

Megapolis, Greater Noida

Sushant Taj City, Agra

Sushant City, Kurukshetra

Aquapolis, Ghaziabad

Golf Links, Mohali

Sushant City, Jaipur

Sushant City, Kundli

Valley View Estate, Gurgaon-Faridabad Road

GROUP HOUSING

Celebrity Green, Greater Noida

Hampton Court, Ludhiana

Greenescape, Sonipat

Sunshine County, Kundli

Orchard County, Chandigarh

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The company intends to shift its focus to value-added development, or constructed

property. API’s thrust areas would be expansion into hospitality, and a focus on premium

locations in Tier II cities of North India. Retirement homes for senior citizens are also on

the agenda of the company. At AHCL, a multi-pronged approach has been adopted to

grow uniformly across all avenues in real estate. The focus will be on developing

integrated townships across India, under the "Ansals Courtyard" or Ansal Town brand.

and establishing an early presence in Tier II cities which are yet unexplored.

The DLF group is a leading real estate developer in India. The group has over 224

million sq. ft. of existing development and 748 million sq. ft. of planned projects. DLF is

committed to quality, trust and customer sensitivity, and deliver on promises with agility,

financial prudence and in tune with the highest global standards. The company has also

entered into several strategic alliances with global industry leaders. The core business

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traditionally has been into three prime divisions: Homes, Offices and Shopping Malls. To

these DLF has added three more divisions: Hotels, Infrastructure and SEZs.

The DLF Group is the only company in India in the Consumer validated category from

the real estate sector to be awarded the distinction of ‘Superbrand’ ranking. And all this

is due to its mammoth contribution to the real estate sector; that has not only made

significant inputs in the residential and commercial property segment but has also made

noteworthy advancement in pursuing new business opportunities in hotel, infrastructure

and SEZs. With its joint venture with Laing O’Rourke, it plans to make its foray into the

sectors of expressways and airports. The key elements of its business strategy are:

Increase land reserves in strategic locations

Expand core business verticals nationally

Diversify into SEZ development

Undertake infrastructure development with Laing O’Rourke

Diversify into hotel development

Enhance execution capabilities

Exceeding over 250 million sq. ft. of accomplished projects across the country and 100

million sq.ft of on-going projects; DLF also plans to develop around 100,000 acres of

land over the next couple of years, nationally. With the growth of the Indian economy

and the increase in corporate Cushman & Wakefield and consumer incomes, combined

with the growing foreign investment in the real estate sector, DLF envisages significant

opportunities for growth in the realty business.

Residential: DLF’s Dominant Current position in Indian homes Segment

Built on a foundation of strong lineage and an established reputation, DLF Home

Developers, the residential business group of DLF, has been a trendsetter in

contemporary urban development and housing. These developments have always been all

embracing with comprehensive solutions for eminent and quality living.DLF has

pioneered some of the best-known urban housing and retail destinations in Delhi

including South Extension, Greater Kailash, Rajouri Garden, Model Town, Hauz Khas

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and Kailash Colony. Featuring International standards geared to serve customer needs,

the Group's complexes are truly a reflection of quality living and contemporary lifestyles.

The product categories of the Group deliver the synergistic strengths of good

architecture, appropriate designs, impressive aesthetics and safety features.

Pioneered townships and group housing in India

220 million square feet developed as colonies and townships in the past, including

17 million square feet of residential properties

Offers superior products in the super-luxury category

Several world-class projects in the pipe-line

Expansion into multiple cities across country

India’s leading player in homes:

Three generations of relationships with customers

Trusted brand

Superior execution track record

Superior planning and execution

Unique ability to create integrated townships

Pioneered the development of integrated townships with DLF city

Creating the right mix of high quality housing, state-of the art offices, IT parks,

world-class shopping malls, digital entertainment, leisure and recreation, efficient

Infrastructure, schools, hospitals and other community spaces like parks and clubs

Strong sales and marketing engine

Large network of dedicated direct sales agents

Close working relationships with financing institutions

High-caliber in-house team well positioned across the country

World-class construction and design ------------------------------------------------------------------------------------------------------------51

Extensive arrangements with India’s top designers, for example, Hafeez

Contractor, Mohit Gujral, WSP

Finest network of experienced contractors and suppliers like LOR, L&T,

Shapoorji Pallonji, BL Kashyap

Premium housing - in major metros

Chanakyapuri project in Delhi

Public Private Partnership (PPP) to develop residential project along with Delhi

Development Authority (DDA)

Township development in Gurgaon, Amritsar, Goa, Mumbai, Pune, Chennai

375 million square feet of residential space under planning

Parsvnath Developers Limited (Parsvnath) is an India-based real estate development

company. As a leading developer in the country, it is also listed on the National Stock

Exchange (NSE) of India. With a diversified portfolio of real estate development projects, it

has expansion plans for many cities. The Company has operations in 41 cities and 14

states in India.  Besides it has a pan-Indian focus.

The Company has been engaged in the development of integrated townships, residential

projects, commercial complexes, including shopping malls and multiplexes, and hotels,

housing projects and commercial complexes. Parsvnath recently entered the integrated

township segment and has been increasing presence in the malls and commercial space

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segment. The company is entering new business segments, such as hotels and special

economic zones (SEZs), across the country.

Parsvnath Developers has emerged as a dominant force in the Real Estate sector of the

country. It entered the smaller cities early. Its completed projects are spread over Greater

Noida, Ghaziabad, Noida and Gurgaon among others. The current projects are also located in

cities such as Chandigarh, Mysore, Pune and Indore.

The key elements of its business strategy are:

1. To deliver value for money & good investment returns

2. To focus on strategic growth

3. Evolve contemporary benchmarks in construction & marketing practices.

4.  Diversify and broad-base product offerings by catering to different markets and

segments.

5. Expand core business verticals nationally

6. Ensure optimum utilization of natural resources to offset adverse impacts of

business operations.

7. Believe in sustainable development and to explore opportunities for such

initiatives.

8. Enter the smaller cities early

STRENGTHS

The Company's competitive strengths arise out of being an early mover advantage in

most projects, strong marketing networks, diversified businesses within real estate, strong

project management skills, professional management, efficient materials planning and

procurement systems and strong customer focus quality solutions.

Parsvanth in India's Real Estate Growth

RESIDENTIAL

In the residential segment, Parsvnath has an incredible range and the element of

exclusivity, both in design and living style, which speak of discerning taste. It has come

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up with condominiums, apartments & penthouses that provide clean, refreshing and

pollution free environment to its residents as well as house maintenance facilities,

centralized communication system and round the clock security.

It has also played a major role in the contribution of Noida real estate as the next commercial

hub close to Delhi with its planned commercial, industrial and residential growth.

Parsvnath offers fully developed socio-economic infrastructure in the neighborhood and

an excellent choice of affordable lifestyle.  It has selected a tract of prime property in the

north, 10 acres of virgin territory.

Parsvnath City : Sonepat

Parsvnath Narain City : Jaipur

Parsvnath City : Jodhpur

Parsvnath Greens : Derabassi

King Citi : Rajpura

Parsvnath City : Malerkotla

Parsvnath City : Dharuhera

Parsvnath City : Cochi

Parsvnath City : Saharanpur

Parsvnath City : Gurgaon

Parsvnath City : Dehradun

Parsvnath City : Rohtak

Parsvnath City : Indore

Parsvnath City : Lucknow

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Parsvnath City : Ujjain

Parsvnath City : Kundli

Parsvnath City : Rajiv Gandhi Chandigarh Technology Park

Parsvnath City : Kurukshetra

Parsvnath City : Mysore

Parsvnath City : Karnal

The Rs.1600 crore Unitech Group is one of the major township planning and real estate

development companies in India. It has an impressive mélange of heavy construction,

leisure and entertainment projects, hospitality business and development of mini

cities/townships construction of residential and commercial complexes, including

shopping malls and various types of dwelling units. Unitech commands strong brand

equity as also a pan India presence with focus on residential development - the most

profitable real estate segment.

 

Its business operations comprise Real Estate Consultancy and Management Fee for turnkey

operations. It is unmatched in overseeing project execution, marketing of real estate

ventures for associate and joint ventures. Construction activities include construction of

highways, roads, powerhouses, transmission lines, refineries, hotels, hospitals and ------------------------------------------------------------------------------------------------------------55

various types of other buildings/structures in India and abroad.

It wriggled out of the shadows of real estate giants like DLF to gradually assert itself in

the real estate market of the National Capital Region. Today, Unitech Ltd, ranks amongst

the top 50 Real Estate companies of the world. Unitech has more than 100 residential

projects, 50 commercial properties as well as many flyovers, highways, airports, schools,

hotels and transmission lines to its credit. The company at present is in the process of

building quite a few retail and entertainment projects. Unitech’s expertise in

infrastructure development is well recognized and can be discerned in its development of

residential townships, which are completely self-sustained.  Its involvement in design,

planning, construction and marketing of real estate in the NCR region has led to some

edifices

Unitech Ltd also has quite a robust presence in commercial spaces, hotels, amusement

parks, infrastructure development, and construction of thermal power plants, transmission

lines, highways, flyovers, industrial facilities, steel plants, and overseas turnkey

projects.Unitech Group is the largest listed real estate company in India with a market

capitalization of USD 2 billion. The company has an important list of clients, a virtual

who’s who of Indian and multinational industry. Gillette, HP, General Motors, EDS,

Asahi India Glass, ICI, Exxon Mobil, Reebok, Osram, UT Starcom, Remfry and Sagar,

PI Industries, Fidelity Investments, Churchill India, Convergys, Keane, Hewitt, Vertex,

Evalueserve, UOP India, Greenfield Online, Royal Bank of Scotland and many others

figure in it. With a vision that realizes itself in self-sustained, modern cities with hi-tech

infrastructure, top-of-line work places and designer residences, Unitech Ltd has built 30

million sq. ft of residential townships.

The key elements of its business strategy are:

Unitech has a reputation for quality orientation and timely completion of projects in all

segments of real estate development.

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Focus on residential development (the most profitable segment) and outright

selling of developed non-residential properties(the most capital intensive

segment)

To build whole communities across India

Effective utilization of capital for rapidly growing its pan- India land bank of

14,211 acres

Strengths

Unitech has emerged as the brand with a professional value system, as it believes

in building relationships.

Unique understanding of the local economies, industries, and cultures.

Customer focus, corporate integrity and sensitivity to environmental issues.

Strong motivation to accept impossible challenges like converting barren spaces

into environment-friendly human habitation.

The company's enviable track record proves its ability to deliver.

Residential

Housing ranges from luxurious condominiums to small flats, individual bungalows to

residential complexes. Several ongoing residential projects are running successfully in

different cities like Delhi, Gurgaon, Greater Noida, Ghaziabad, Kolkata, Mumbai etc.

 

UniWorld City in Gurgaon has become a trendsetter of sorts in apartment and townhouse

living, where the east and the west meet in architecture and lifestyle. Unitech’s Rajarhat

residential project in Kolkata has already created quality benchmarks.Nirvana in Gurgaon is

a Rs. 15 billion (US$ 341.91 million) project, being developed by Unitech. The premium

is on incorporating nature in the living style to experience quietude and peace of mind.

Unitech has launched two significant projects - World Spa and Espace at Nirvana

Country, and is launching a series of other initiatives, debuting projects like Unitech Karma

Lakelands and Uniworld Resorts.

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The World Spa is a place where the casual and formal elements blend in harmony in an

exclusive garden community - a sureshot retreat from work and hectic city life. The

residential property prices have been rising substantially.

EMAAR MGF

Itself as one of the frontrunners in the Indian real estate business. In December 2005,

Emaar-MGF hit the headlines with the largest FDI in real estate. Over half a billion

dollars with a capital outlay of USD 4 billion, (Rs. 18,000 crore) was pledged towards the

development of real estate projects in India. Since the coming together of the highly

credible Emaar Properties PJSC of Dubai, and MGF Developments Limited, Emaar-MGF

combine has firmly established

The partnership is hugely promising and hopes to usher in a Real Estate revolution in India

by offering world class facilities, services and living spaces through cutting-edge

technology, expertise and scale. It plans to steer Indian Real Estate to global heights of

excellence.

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The joint venture brings world class expertise to the execution of projects the company

has in the residential, commercial and hospitality segments.  Initiated from Punjab,

Emaar-MGF projects are on the move in 30 cities including Delhi NCR, Andhra Pradesh,

Karnataka, Tamil Nadu, Kerala, West Bengal, Gujarat and Maharashtra.

Headquartered in New Delhi, Emaar-MGF is eminently engaged in pan-India projects in

residential, commercial, infrastructure and hospitality sectors as well as in Special

Economic Zones (SEZ).

The key elements of its business strategy are:

To diversify and create value in every chosen business activity, including

hospitality, leisure, retail, education, healthcare, finance and industry and nurture

them.

To ensure sustainable development in the building process.

To constantly monitor and improve new technology and innovations, both

internationally and locally in order to improve product efficiency and economy.

To make concerted efforts in delivering products and services that thrives on

international expertise and global scale of operations to customers.

Strengths:

World-class townships are the Group’s USP, committed to international standards and

equipped with recreational, educational and medical facilities. Commercial spaces would

be an integral part of the township project at every location. Working on each project is a

dedicated team of architects and contractors of an international standard, with a team of

experts on planning, construction, transport, utility and environment. Emaar Properties ------------------------------------------------------------------------------------------------------------59

has been acclaimed as the Best Overall Developer in the UAE by industry peers for the

Gulf Real Estate Awards in 2005. The company has been voted on its high quality,

profitability and innovation in completed and ongoing projects.

The Story Behind Emaar MGF

Established in 1997, Emaar Properties Public Joint Stock Company carries the expertise of

high profile projects executed in the world’s richest city. Listed on the Dubai Financial

Market and a key element of the Dow Jones Arabia Titans Index, Emaar registered a 13%

growth in net profit in the 1st quarter of 2007 and its revenue has surged by 74% over the

previous year. The market value of shares as on March 31, 2007 is worth Dh 4.5 billion.

Emaar has built over 14,500 homes, and the Downtown Burj Dubai project worth AED

73 billion, which includes the ongoing Burj Dubai tower, the tallest in the world, and the

Dubai Mall are some of its most prestigious ventures. Emaar is working on international

projects in Saudi Arabia, Egypt, Syria, Pakistan, Jordan and Turkey.

India is a vital market for Emaar, and the company has committed USD 1 billion towards

development of real estate projects across metros and Tier II cities.

MGF Developments Limited, a division of the MGF Group, has been in the motor hire

purchase and leasing business for the last seven decades in India. MGF has several

shopping malls in its portfolio, with Gurgaon’s Metropolitan and MGF Plaza in Gurgaon

and the City Square Mall as its landmark projects.

Emaar - MGF Real Estate

Residential

Emaar-MGF is focused on developing new-age integrated townships that would change

the way people live in India. These townships would include a choice of homes for

buyers, from apartments to villas, row houses and vacant plots for customized

construction. Shopping complexes and landscaped gardens would be integrated with

world-class medical care, schooling and recreational facilities. Adding vibrancy to the ------------------------------------------------------------------------------------------------------------60

township would be Strip Malls offering a variety of entertainment and branded products,

ultimately redefining suburban living.

The Group has signed an agreement with the Government of Punjab to develop projects

worth Rs. 4,000 crore. The Mohali project would cover 2000 acres, 80% of which has

already been acquired and Rs. 750 crore has already been spent towards building Punjab's

own "Dubai". The Mega City of Mohali would also offer 8 million sq. ft of office space,

and supporting infrastructure in the form of hospitals, schools and colleges.Emaar- MGF

is all set to pioneer the concept of next generation integrated community living with The

Palm Springs in Gurgaon that give you options ranging from low rise luxury villas to

spacious apartment towers amidst acres of elegantly landscaped gardens and parks.

Ludhiana, Jalandhar and Amritsar have also been selected for township projects. These would

entail an investment of Rs. 1,000 crore.  Emaar-MGF is expecting a return of 20 to 25%

on their outlay in Punjab in 4-5 years time.

COMPANY PROFILE

ABOUT MERITON GROUP

Meriton Group is one of the leading real estate and developing conglomerates. Over the

years, the group has left its mark with a number of residential apartments and

commercial complexes that are today landmarks in their respective areas. These

apartments and complexes are the cornerstones of aesthetic design and quality

construction that set this group apart.

We, at Meriton Group, strive to offer you all luxuries of a modern living. Our main

emphasis is to understand your expectations and needs and provide you a good living at

affordable prices. All projects handled by us in the past speak volumes about our

efficiency and capacity. We are capable of handling any big and ambitious project and

translate it into reality.

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We have a strong team of professional creative designers who work continuously to

give new designs and ideas. Apart from that we have a vast network of professionals

from diverse backgrounds like architecture, civil engineering, planning, management,

marketing, finance etc. All these work in coordination to ensure quality in our works.

Our projects are handled by world renowned planners and architects. Classic amenities

& facilities at reasonable prices, attest our excellence.

VISION

To be India's finest infrastructure construction & real estate company.

To foster the growth of modern India.

To give our customers complete value for their money by providing them with

world class townships, shopping malls, offices, housing complexes and much

more.

Our commitment to excellence is reflected in the careful site planning, home

design and craftsmanship that goes into each dwelling.

MISSION

To become the number one company in the Real Estate industry.

To provide the best infrastructure services at the most affordable prices.

To work with utmost sincerity and honesty.

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PROJECT PORTFOLIO

Current Projects at GURGAON

1. HARMONY

 

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Overview

Harmony. The name says it all. 2-4 bedroom apartments of international standard with

fitted modular kitchens and air conditioning in every room are placed within a setting of

pristine natural beauty. With 80% of the land as open and green space, every bit has been

designed to restore within you and your family the inner harmony that we all seek, but,

which is next to impossible to find in a city.

Highlights

With 80% open green space, every bit of Harmony, has been designed (by

renowned architects Mani Chowfta) , to restore within you and your family the inner

harmony that we all seek, but, which is next to impossible to find in a city.

Spread over 10.57 acres, this residential complex has 2, 3 & 4 bedroom

apartments of international standard with fitted modular kitchens and split unit air-

conditioning in every room. 100% power back up, & 24 x 7 gated security along with

door phones are two extremely important aspects that have been taken care of in all

Unitech Residential Complexes.

Beautiful gardens, tranquil walkways, pebble acupressure paths, kids play zones,

a state of the art club with all facilities, tennis courts, basketball courts, and other such

amenities provide for a dynamic setting amidst pristine natural beauty.

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2. ESCAPE

Overview

Escape routine. Escape mundane. Escape usual. The most alluring aspect of 'Escape' is

that it offers you your space. Escape keeps out all sound, screeching brakes, shrieking

vocal chords, penetrating footsteps and creates a silence that is beyond pure absence of

noise.

Highlights

Located in Sector 50, Gurgaon , on the proposed 130 metre road with Metro

nearby, approx 3 km drive from NH-8, Exit No-10, 20 minutes drive from IGI airport

Part of 300 acre township, Nirvana Country

Comprises 2, 3 and 4 bedroom apartments with size varying from 1550 sq. ft. -

3974 sq. ft.

With 80% open green space, it is pulsating with life, even with the gentlest

breeze.

Club house with facilities like swimming pool, gym, squash court etc.

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These apartments are fitted with a modular kitchen; air conditioning in every room and

are specially designed to keep the world outdoors as you escape to your own private

world

3.FRESCO

 

  

Overview

Deep in the heart of Nirvana Country, lies Fresco, a new, modern residential community

designed as a nurturing refuge from the bustle of the city, a refreshing oasis where

residents enjoy peace of mind, comforts of home, and pastoral gardens. Fresco, conceived

and designed by Callison Inc, this high rise project comes with a fully fitted modular

kitchen and air-conditioning in all bedrooms & living and dining area.

Highlights

Conceived and designed by Callison Inc. on 16.9 acres of greens, Fresco

comprises of 2 & 3 bedroom apartments ranging from 1336 sq. ft. to 1877 sq. ft.

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Homes at Fresco are especially spacious. Airy bedrooms, captivating views and

lots of stretching space gives you a chance to rejuvenate and refresh yourself.

An exclusive clubhouse, lots of green area, convenience stores, water bodies, children's

play area, 100% power back up, 24 x 7 security, and also a great deal of convenience due

to extreme proximity to all major Gurgaon Malls & top of the line medical facilities, all

contribute towards making Fresco "A Refreshing Getaway you can go to Everyday!

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O PROJECTS AT NOIDA

4. UNIHOMES

Project Highlights

Being developed by Unitech, Unihomes a 70 acres project site close

to the heart of Noida, is the address you have always aspired of.

Nestled amongst greens and landscaped parks, Unihomes offers 2 &

3 bedroom apartments that offer a quality living you have always

dreamt of .Where each apartment has been efficiently designed to

maximize space & sunlight while ensuring a superb community

living experience.

 

Project Details

Unit Type : 1, 2 & 3 BR Apartments

Sizes Available : 460 sq. ft. – 990 sq. ft.

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Location Advantages

Located near the FNG (Faridabad-Noida-Ghaziabad) Expressway,

Unihomes enjoys excellent connectivity to Ghaziabad and Delhi

though NH-24.

Also it is a just 15 mins drive the commercial and retail

development of Sector – 18 and a 10 min drive from offices of

Sector – 62. The nearest metro station in Sector – 32 is only 4 kms

away, giving you an easy access to the whole of NCR.

Besides this Unihomes are strategically located with a premium

wide Independent access road. The area has premium health

centres, commercial & shopping complexes, education facility &

much more in the vicinity.

 5.UNIHOMES – GREATER NOIDA

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Plots

Project Highlights

Close to Pari Chowk in Greater Noida lies a delightful, hidden

gateway, an exotic land of nature splendor and mystic adventures,

of friendly locals and enchanting customs, of undiluted joy and

magical peace. And beauty so heavenly, you'will never want to

leave.

Unitech brings you 100 sqm. & 160 sqm. residential plots in

Uniworld City-a 100 acre integrated township with lush green

environs and all possible amenities for comfortable, tranquil living.

 

Location Advantages

Greater Noida is a planned township south east of Delhi, situated in

the sate of Uttar Pradesh. It falls within the National Capital Region

and is adjacent to Noida, one of the Largest industrial township in

Asia.

 

6 . UNIWORLD GARDENS

Overview

As you enter Uniworld Gardens, you will drive through an avenue of flowers & shrubs

planted in a mosaic of shades, where sultry air gives way to the refreshingly cool breeze

& the sugary chirping of birds follow you into the mesmerizing experience.

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Highlights

Nestled in the vicinity of 13 acres of natural bliss, the apartments make a

statement of magnificence. Standing 14 storeys high, Uniworld Gardens offers choice

of 1, 2 & 3 bedroom apartments & each home to allow superior ventilation & let in the

flow of fresh breeze & bright sunshine.

While these homes offer spectacular view of the sunsets & sunrises, as you sit by the

window still admiring the beauty of life!

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7. UNIHOMES PHASE 2

 

Project Highlights

Being developed by Unitech, Unihomes a 70 acres project site close

to the heart of Noida, is the address you have always aspired of.

Nestled amongst greens and landscaped parks, Unihomes offers 2 &

3 bedroom apartments that offer a quality living you have always

dreamt of .Where each apartment has been efficiently designed to

maximize space & sunlight while ensuring a superb community

living experience.

 

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Project Details

Unit Type : 1, 2 & 3 BR Apartments

Sizes Available : 460 sq. ft. – 990 sq. ft.

 

Location Advantages

Located near the FNG (Faridabad-Noida-Ghaziabad) Expressway,

Unihomes enjoys excellent connectivity to Ghaziabad and Delhi

though NH-24.

Also it is a just 15 mins drive the commercial and retail

development of Sector – 18 and a 10 min drive from offices of

Sector – 62. The nearest metro station in Sector – 32 is only 4 kms

away, giving you an easy access to the whole of NCR.

Besides this Unihomes are strategically located with a premium

wide Independent access road. The area has premium health

centres, commercial & shopping complexes, education facility &

much more in the vicinity.

 

DECISION BHAVIOR COMMONLY SHOWN BY BUYER

Visit the prospective neighborhoods at different times of day and night, driving in

from different directions.  Carefully observe the overall condition of the

surrounding community as well as the neighborhood in question – signs of

graffiti, unkempt houses, and litter in the streets are red flags, to say the least.

Observe the overall condition of surrounding homes – are they tidy, well-

maintained, and with lawns it nice condition?

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Chat with some of the residents to get a true feel for the quality of life you can

expect there – after all, nobody knows the neighborhood better than the people

who have lived there a while.

If public transportation is important to you, ask residents about accessibility to it.

Especially if you have kids, try visiting one or two schools in the immediate area.

Shop in some of the local retail stores or shops.

Check out a local newspaper or two – often these publications will help to give

you a sense of the flavor of the local community.

Try getting acquainted with some of the locals by visiting a local church or two.

Visit the local park(s) to mix with some of the area residents.

For people who plan on driving to work each day, test out the commute during

rush hour, from the neighborhood in question.  A particularly frustrating commute

may be reason enough to reject buying a home there.

First Time Buyers' Dos and Don'ts

If you are a first time home buyer, you have a lot to learn.

Working from a blank slate you must build an understanding of the housing market,

determine what you can afford, land a loan and hone in on a home that's a good fit for

your lifestyle.

The transaction will likely become your largest asset ever so there's little room for error.

It is a daunting task, but you can ease your concerns if you take the process step-by-step,

watching your footing as you move along the path toward the American Dream.

To that end, Coldwell Banker recently released a list of "Dos and Don'ts" to help first

timers turn that stress into the self-confidence you'll need to move closer to your first

home.

The list focuses on areas first-timers typically stumble over in their initial home buying

attempt. Knowing what you could face will help you avoid some of those trip ups.

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The Dos

DO browse for housing information. Begin your search by arming yourself with

information. For example, Coldwell Banker's the Home Price Comparison Index allows

you to compare average housing costs in over 400 U.S. markets. Realty Times Market

Conditions gives you a snapshot of thousands of local markets. About com's Home

Buying/Selling section is chock full of the nitty-gritty insight you'll need to get going.

Stick with the known, long-time real estate information Web sites and you'll learn more

than you need to know.

DO examine your credit standing. You need to know your credit standing. You may

need to request corrections if there are errors. You may need to adjust your habits if your

credit behavior is less than sterling. And you need to take those steps before seeking a

loan. Your credit report is free from AnnualCreditReport.com, the federally regulated

place to go. You can stagger retrieval of your credit report from each of the big three

credit bureaus, getting one from a different agency every four months. Your report is

free, but you may have to pay a nominal fee for your credit score (a numerical scoring of

your creditworthiness) depending upon your state law and other factors. Learn more

about your score at Privacy Rights Clearing House.

DO explore a mortgage pre-approval or commitment. An early green light on a loan

will put you in a good negotiation position when you find your dream home. It will also

help you shop within your budget.

DO line up a dream team of professionals. You may need a real estate agent, attorney,

mortgage broker, home inspector and others to be your professional eyes during your

home search.

DO buy for your lifestyle. Your first home may not be your last, so try to anticipate how

long you'll live in your home and buy based on plans for the duration. Raising kids,

starting a business, taking on a new job, housing Grandma could all impact the size or

type of home you need first.

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DO heed housing priorities. Separate your "wants" from you "needs" so you know

where you can compromise to stay on budget.

The Don'ts

DON'T get taken by the first house or neighborhood you see. Keep an open mind and

spend sufficient time finding the right fit in a house and neighborhood for your needs.

DON'T buy more than you can afford. Lenders will often loan you as much as your

financial condition warrants, but that may not be what you can comfortably afford. It's

better to live with a comfortable mortgage on a smaller home than to struggle every

month paying a mortgage on a house with more room than you really need. The down

payment, closing costs, monthly expenses and taxes must in total all be within your

income and savings range.

DON'T treat your home like a stock portfolio. Homes appreciate and depreciate in cycles

which often aren't so predictable. Don't expect your home's value to skyrocket. Buy a

home because you need a roof over your head, not for a quick profit.

DON'T try to time the market. Pinpointing the bottom of the market almost always

happens after the market has started to turn up. How, otherwise, can you see the bottom?

Focus on personal lifestyle needs, not market trends, in terms of timing your home buy.

DON'T sign for a confusing mortgage. Shop around for the best loan, read every detail of

your loan contract and get some help understanding terms and provisions that confuse

you. Avoid exotic, "creative financing," multi-option loans you don't understand. Again,

lifestyle is key. Get a loan that fits.

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House selling tips to help sell your property fast

Since resale is the primary motive of investors who lend their money in real estate so

there are some tips for these investors.

A few minor home improvements could make the difference to sell your home. So it is

worth spending a bit of time and money on home improvements. See our home selling

tips below and you will notice that some of them won’t cost you a fortune.

 Price and presentation are critical to sell your home

Top tip :First impressions count, buyers will have already formed an impression before

they step into your property. A well-kept garden, pathway and fence, plus a freshly

painted front door are immediately appealing, whereas a scruffy outdoor space with a

litter bin outside the front door may turn many prospective buyers away.

De-clutter - don't underestimate the appeal of a tidy property.

Throw out the junk - use moving as a good excuse to get rid of old, unwanted

and unused items.

Clean - dust and clean the whole house thoroughly, from cobwebs on the ceiling

to crumbs and stains on carpets and rugs. Remember to wash down paintwork and

clean windows.

Natural Colours - research shows that, most buyers prefer natural, earthy colours

to bright, bold shades. Although there is a wide range of paint colours available,

magnolia is still the top-selling colour.

Add a bit of colour - to prevent rooms looking too bland, use strong colours for

accent walls or cushions and accessories.

De-personalize - remove personal items, such as family photographs and

children's drawings, which may distract potential buyers.It may sound harsh but it

really helps sell property

Maintenance – Complete all minor repairs.

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Major Jobs- If you don’t spend out on home improvements to complete major

repairs it could have a disproportionate affect on the value of the property.

Lighting - the right lighting can improve the mood of a room. A room looks

cosier with a few table lamps rather than bright general lighting.

Create a scent - it may be a bit of a cliché to bake bread or grind coffee beans

just before the arrival of a potential buyer, but scent does plays an important role

in creating the right impression.

Open windows - most buyers like the smell of a freshly cleaned and aired room.

Open the windows every day to let fresh air into the house.

Avoid strong food odours - don't cook foods such as fish or curry before a

viewing as the smell will linger.

Take pets out - ask friends or family to look after pets during viewings.

Fresh flowers and fruit - flowers and a bowl of fruit will brighten up a room and

provide a pleasant smell.

Define your rooms - a property will be more appealing if rooms have a specific

purpose and this allows buyers to see the full potential of the property.

Seasons - the best time for selling property is spring and autumn; the market

slows down during late summer and over Christmas/New Year. If a property is

sold while the market is buoyant, it's much more likely to attract the asking price

SEVEN THINGS TO LOOK FOR IN A REALTOR

Some basic criteria can help you pick a winner:

If picking a realtor were a reality show, there probably would be no shortage of

contestants. At last count, there were more than one million REALTORS nationwide.

Finding the one that best suits your needs, however, might be a little tricky. You'll want

some guidelines to narrow the field of real competitors. Here are 7 things to look for in a

realtor.

1. A capital REALTOR

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Not all real estate agents are Realtors, and that's an important distinction. Realtors are

members of the National Association of Realtors and have sworn to abide by its strict

code of ethics. Consider this a requirement for making it past Round 1.

2. Experience

Newness shouldn't be automatic grounds for elimination, but it's probably wise to look

for someone who has been in the real estate business a few years. And while there's

nothing wrong with giving a newer Realtors a chance, you may want to make sure he or

she is working under the guidance of a more experienced mentor.

3. Knowledge of your neighborhood

You're not looking for Top Real Estate Agent, you're looking for a Realtors who best

knows your local market. Whether you are selling or buying, it's important for your

Realtors to have thorough knowledge of your specific area.

4. A good track record

Potential listing agents should get points not based solely on the number of listings

they've had, but on how many of those listings have sold and for what price. Find out

how many people a potential buyer's agent has helped find a home.

5. A good ear

And we don't mean musical talent: You want an agent who listens to you. If you're

buying, you don't want to waste your time looking at homes that don't meet your needs,

or be encouraged to spend more than you can afford. If you're selling, you don't want to

be pressured into accepting an offer you don't think is fair.

6. Honesty

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Not usually an asset in most reality shows, honesty is an essential quality in the person

helping you buy or sell what's probably your most valuable asset. Don't be drawn in by an

agent who tells you only what you want to hear. You want to know that he or she will

give you an honest opinion about how much your house is worth, or how much house

you can get for what you want to spend.

7. References

Consider this the finale. Once you've narrowed your pool to three finalists, contact at

least two references for each. Figure out which one you think you'll work with best, then

crown a winner.

RECOMMENDATIONS

NICHE MARKETING-AN OVERLOOKED OPPORTUNITY

Meriton group can become a niche marketer by addressing a need for an economical

product and service that is not being addressed by mainstream providers i.e. economizing

the entire process thereby catering to the low end customer not being served by the major

players.

Niche marketing is the process of finding and serving profitable market segments and

designing custom-made products or services for them. For big companies those market

segments are often too small in order to serve them profitably as they often lack scale.

Niche market ventures would become profitable for the Meriton group even though they

are by nature small in comparison to the mainstream marketplace, due to the benefits of

specialization and focus on small identifiable market segments; even without the benefit

of economy of scale. Niche markets may be ignored or discounted by large businesses

due to what they consider to be small potential; this, in turn, is part of the process that

makes the niche market available to smaller businesses. The key to capitalizing on a

niche market is to find or develop a market niche that has customers who are accessible,

that is growing fast enough, and that is not owned by one established vendor already.

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ADOPT BENCHMARKING PRACTICES

The company considers their quality to be its core competence. Thus, it is important that

it should evaluate its performance vis-à-vis industry leaders like DLF, OMAXE, and

UNITECH etc. After identifying the quality practices followed by these companies, the

company can evaluate its own performance on those parameters. Having done this, it can

spot the performance gap and try to bridge the gap by executing modifications which are

necessary and feasible.

LOYALTY MARKETING CAMPAIGN

Loyalty marketing is an approach to marketing, in which a company focuses on growing

and retaining existing customers through incentives. Branding, product marketing and

loyalty marketing all form part of the customer proposition – the subjective assessment

by the customer of whether to purchase a brand or not based on the integrated

combination of the value they receive from each of these marketing disciplines.

INCENTIVE PROGRAMS

It is important that Meriton group initiates Consumer incentive programs targeting

the existing customers. Consumer programs are becoming more widely used as

more companies realize that existing customers cost less to reach, cost less to sell,

are less vulnerable to attacks from the competition, and buy more over the long

term.. Long term customers may initiate free word of mouth promotions and

referrals, which the company highly requires. This would also lead to increased

customer retention and loyalty which in turn, makes the employees' jobs easier

and more satisfying.

DEVELOPING AND TRAINING THE STAFF- THE MUCH NEEDED STEP

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Rapid changes in real estate industry require a skilled, knowledgeable workforce with

employees who are adaptive, flexible, and focused on the future. Being a small company,

one of your key areas in which the Meriton group needs development is upgrading the

skills of their staff. Employees with upgraded skills, working to their full potential and

equipped to deal with the changing demands of the workplace; employees with higher

morale, career satisfaction, creativity, and motivation; increased productivity and

responsiveness in meeting organizational objectives. Thus, the Company must take

appropriate measures to assess skills and interests of the employees and seek

development activities that match their needs.

OVERCOME WEAK BRAND IMAGE BY PROMOTIONAL ACTIVITIES

Promotional activities get the word out so potential customers know what one has to

offer. Through promotional activities, Meriton group can generate interest in their

company’s name. A variety of promotional tactics can be used to secure recognition and

exposure for their company, including news releases, Web spotlights etc. Besides this,

promotional brochures, catalogs, flyers, pamphlets, handbooks, and other materials can

also be used to strengthen brand name. Further following new measures can be taken:

Creating an environment friendly image.

The type of promotional activities the group chooses would help it to create

and affirm its image. For example, if company offer free water bottles (with

company logo on them) to participants in a marathon or a public event aimed

at promoting healthy environment then the company can build up an

environment friendly image.

Specialty items

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Specialty items are a way to get - and keep - your name in front of prospects.

A keychain with a MERITON GROUP’S name stamped on it, a cap with a

company's name embroidered on it can also serve as a good promotional

effort.

SCAN THE ENVIRONMENT BEFORE VENTURING INTO NEW PROJECTS

Environmental scanning involves general surveillance of the environment to determine

the current trends and projection of the factors that would affect the company.Meriton

group must have a core team involved in understanding the business environment the

company operates in. Thus, the company would be able to make informed decisions

before making any strategic move. It would also help company to be proactive rather

reactive.

TRANSPARENCY IN BUILT-UP AREA POLICY

To avoid undue litigation and to bring the much needed clarity and uniformity, the term

‘Built-up Area’, should be clearly defined by the company. It should be clearly laid down

as whether the term refers to the Super Built up area, the Carpet Area or any other

accepted definition. The definition of Built-up Area needs to be clarified. It should be

mentioned that whether it include basements, stilt floors, balconies, staircases, corridors,

lobbies etc or not. This would reduce the hassles of the end consumer who gets confused

due to ambiguity and lack of description.

SCOPE OF ORGANIZATIONAL RESTRUCTURING

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The company being in family run business follows the HUF practices in management of

their business. However, for its survival in the competitive environment it must adopt

contemporary managerial practices. It could employ experts who have industry

experience and who can impart their skills to help the company achieve its laid

objectives.

BIBLIOGRAPHY

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www.indiangrounds.com www.unitechgroup.com www.wikipedia.org www.delhi.jaaydaad.com www.google.co.inMagazines

Realityplus Business Today

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Understanding Real Estate industry and

Residential buyer .

Submitted to INSTITUTE OF MANAGEMENT STUDIES &

RESEARCH, MAHARSHI DAYANAND UNIVERSITY

ROHTAK for the Partial Fulfillment of the Post Graduate

Degree in MBA in Competitive Intelligence and Corporate

Warfare with additional specialization in Marketing and Sales.

Submitted By:

Mr. DEEPAK GULIA

MBA , Batch-2006-11

Industry Guide: Academic Guide:

MR. P.N MISHRA

DGM. MARKETING

UNITECH Pvt. Ltd.(Noida)

MR. JAGDEEP SINGLA

SR.LECTURER

IMSAR,ROHTAK

INSTITUTE OF MANAGEMENT STUDIES & RESEARCH (IMSAR)

MAHARSHI DAYANAND UNIVERSITY, ROHTAK(HARYANA)

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