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October-December 2014
Complimentry copy not for sale
credai.org
Publisher & COO Vikas Johari
CEO & Managing Director Prakash Johari
Executive Editor Saurabh TankhaInformation: [email protected] enquiries: Narender Rawat +91.9811222385
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Editorial Consultant: Ms. Meenakshi ChopraConfederation of Real Estate Developers’ Association of India, National Secretariat, 703, Ansal Bhawan, 16, Kasturba Gandhi Marg, New Delhi 110 001. Tel: +91.11.43126262, 43126200 Fax: +91.11.43126211 Email: [email protected] Web: www.credai.org
credai.org
Welcome!
Sanjeev SrivaStvavice-President, CreDai and editor-in-chief
CREDAI fraternity prides itself on its commitment to the development of housing and habitat in India. This pride owes itself to our awareness the enterprise of providing housing fulfills an essential need of the nation’s development agenda. After all, housing is a basic requirement. We, therefore, view the Government’s adoption of
“Housing for All by 2022” as an endorsement of what CREDAI has stood for since its inception.
We believe Housing for All is possible with active engagement of the private sector. This belief is based on our experience of Government-led housing initiatives to be falling short both in terms of quality and quantity. Besides, it is clear that the Government is unlikely to possess the resources required to address the housing shortage of 18.78 million units in metros and another four million in tier 2 and tier 3 cities. The need to encourage private sector in housing is what leads us to considerations of an enabling environment for undertaking investments in housing.
Delhi Conclave 2014 was organised with this backdrop. It was felt the concerns of entrepreneurs who are to lead investments into housing and habitat need to be brought to the notice of decision-makers and influencers at the widest possible level. I am glad to share with CREDAI fraternity that CREDAI Conclave 2014 was attended by eight ministers of the Central Government and also included honorable Chief Minister of Haryana.
With such esteemed and influential presence, it was necessary to project CREDAI’s objectives and achievements. There are two such areas which were showcased at CREDAI Conclave 2014. The first is the CREDAI Clean City initiatives at Kochi and Magarpatta. In both these cases, our members have setup facilities within housing complexes to ensure zero garbage through adoption of composting technology and treatment of non-biodegradable waste. These initiatives are self-sustaining. It is time to celebrate the initiatives for clean city by our members that coincides with the call of Prime Minister for Swachh Bharat. CREDAI members took the Swachh Bharat pledge at the Conclave and committed themselves to take up waste reduction measures.
Skill development has been high on the list of CREDAI’s priorities since 2007. CREDAI is a founder shareholder of National Skill Development Corporation as well as Construction Sector Skill Development Council. Above all, our Kushal on-site training programme has trained close to 20,000 workers in construction skills. CREDAI is all set to take it forward by putting all our means at the disposal of the skill initiative. This initiative would help to mitigate the shortage of five-on-one construction workers that the nation has to reckon with today.
CREDAI’s wider engagement with Clean India and Skill Development would make the nation more capable and stronger in addressing the challenges of development and bringing its fruits to all. However, these engagements are directly meaningful to the CREDAI fraternity also as stakeholders. Above all, it is through a wider engagement that the character and persona of CREDAI as a cooperative entity committed to national goals and priorities can get established and be nurtured. It is with these thoughts that I urge you all to take up Clean India and Skill Development projects in your areas of operation.
Happy reading...
1October-December’14 | |
Chairman’s message
LaLit Kumar jain Chairman, CreDai national
Dear friends,
Demographic trends suggest that the country is on the verge of large-scale urbanization as India’s urban population is expected to touch 81 crore mark by 2050. The Government at the Centre rightfully acknowledges the importance of housing as a concomitant of the challenge of urbanization. No wonder that the Government has officially embraced the goal of housing for all by 2022. Industry pundits put the numbers involved at around 11 crore houses with an investment of over US$ 3 trillion.
What is needed is that both the Central and state governments impart the necessary policy thrust to boost investments into housing by the private sector because it would be truism to say that the massive investments required are not of the order that can be mobilized by the Governments themselves. A policy thrust on boosting investments into housing has other benefits to the economy since real estate sector is of strategic economic importance. It is the second largest employment generator after agriculture and contributes about six per cent to the GDP of the country. With its backward and forward linkages, the sector has the potential to accelerate economic growth into double digits and improve standards of living and life chances of the most vulnerable sections of the population. Indeed, once we understand that a house is the one physical asset that everyone can hope to own, the equity considerations of boosting investments into housing are as appealing as those of accelerating growth.
Inordinate delays due to multiplicity of authorities and permissions required is hurting the sector like nothing else. A number of Committees of the Government have already made recommendations on how single window system which is digitally enabled can achieve all the purposes of regulation and help cut down the delays. Similarly, the delegation of power to the Urban Local Bodies (ULBs) so that the Urban Local Bodies can process the building permissions from all angles be in environment, civil aviation, Archaeological Survey of India or any other is a goal which it is now time for the Government to implement without further delay.
I am very proud that the CREDAI Conclave 2014 was attended by as many as eight Ministers of the Central Government before whom CREDAI has successfully presented its larger commitments to the nation in terms of Clean India, Skill India and also Green India. CREDAI Conclave witnessed the pledge for a Swachch Bharat by the CREDAI fraternity to work effectively towards garbage reduction and waste management. With this pledge, CREDAI has become the first among the associations of the sector to adopt Swachch Bharat mission. I urge you all to come forward with innovative means of involving ourselves to achieve the laudable vision of our Prime Minister to clean India.
CREDAI has been actively engaged in building up the requisite skills in the construction sector at every level. At the national level, we are the stakeholders and the board members at National Skill Development Corporation and one of the promoter associations of Construction Skill Development Council. At the grass root level, we have an on-site training programme called Kushal at CREDAI Pune which we hope to extend to other states. Working towards the training needs of the real estate sector, we hope to set up an Institute for Housing and Real Estate Development which would be the first-of-its-kind in the country and would lay the foundations of achieving many of the objectives of the Government that are not possible to achieve by legislative means such as Real Estate (Regulation and Development).
On behalf of CREDAI, we are also looking at certain radical measures that need to be introduced to bring about dignity of labour in the real estate sector which is necessary for skilled manpower retention which, in turn, is one of the bases of the Housing For All vision outlined by Prime Minister Mr Narendra Modi.
We hope the New Year ushers in an era of unprecedented growth in real estate and the economy.
| credaitimesmag.org2
President’s message
C SheKar reDDyPresident, CreDai national
Dear friends,
It is a singularly proud moment for me as a member and President of CREDAI that the entity we conceived in 1999 to represent the interest of housing and shelter has over the last fifteen years grown across 23 states and 153 city chapters to accommodate 9000 housing and real estate developers. There are few associations in the country that can match CREDAI’s spread and reach.
I am even more proud that while representing the cause of housing and real estate industry, we have equally been concerned at evolving a code of conduct which upholds the interest of the consumers. CREDAI has adopted a Code of Conduct and instituted a Grievance Redressal Mechanism which is not only the first of its kind but also amongst the most effective in ensuring easy and quick disposal of all manner of complaints at a low cost. This could not have been achieved without the cooperation of Presidents of our State and City Chapters whom I compliment and urge today to deepen this process.
However, our success with policy makers in creating a more user friendly environment for the cause of housing and shelter have been relatively modest. There are a number of Committees of the Government who have recognized that housing is an important part of the economy contributing 9% of the GDP, being the largest employer after agriculture and having the strongest effect in acceleration of GDP growth through its backward and forward linkages to 400 industries. It is also universally recognized that the housing shortage of 18.78 million units requires resources of the order of Rs. 22.50 lakh crore which cannot be provided out of Government’s Budget. Accordingly, these Committees have recommended measure to reduce the cost of land and finance for private developers and above all to simplify the cost of procedures which alone accounts for 35 to 40% of the cost of a dwelling unit. So far, however, there has been limited movement in actual terms.
For the first time, there is hope that all this is set to change. The new Government led by Shri Narendra Modi has laid down a specific goal of Housing for All by 2022 within the first few days of coming into power. Our sector has been blessed with a Minister in Shri M Venkaiah Naidu ji, who has the knowledge and authority to think afresh the entire paradigm of governance in housing. He has used this authority to bring together all the states and the union territories to adopt a National Declaration on Urban Governance and Housing for All on July 3, 2014. The National Declaration enjoins upon both Government of India and the Governments in States to provide guidance alongside fiscal and non-fiscal support to achieve the goal of “Housing For All” by 2022 and commits Government of India to rationalize approval processes.
| credaitimesmag.org4
We are so assured that the common goal of housing and shelter which binds our fraternity is now a national goal being executed in the able hands of Shri Venkaiah Naidu ji that, in the Conclave 2014 we resolved to strengthen those hands by taking up Clean India-Skilled India-Strong India as our theme.
At the same time, the theme of Clean India-Skilled India-Strong India has been the silent theme at work in endeavours of our CREDAI Team. CREDAI Kochi and CREDAI Pune have experimented with cost effective models of garbage management system which is a model that would be presented at the Conclave 2014 for all of us to consider and adopt. More importantly, CREDAI is a believer in the home being the place from where sanitation and hygiene begin. It is for this reason that the Swachhta Abhiyan has touched a deep chord in our minds and hearts. It was in this background that we adopted the Swachh Bharat Pledge in the presence of Hon’ble Minster for Drinking Water and Sanitation tomorrow.
The housing of the future, requires evolution of cost effective and environmentally sustainable technologies. Housing and habitat also require a whole new set of practices which are fair, transparent and standardized across all markets to enhance the overall value proposition of this sector. Towards this end, we hope to set up an Institute for Housing and Real Estate Development which would be the first of its kind in the country. CREDAI is also taking up the expansion of Skill Development Programme under its own aegis.
The goal of sustainability and efficiency of resource use in our developments has now been made explicit. We are not polluters of environment as the Government regulations lead us to believe, but its protectors. Environment is never more protected than when it is amalgamated into sustainable habitat. The concern for the environment is not only uppermost but informs our practices and would only enable us to further enhance sustainability if we are given a more relaxed treatment under the Environment Regulations.
Looking forward to unending cooperation and support
| credaitimesmag.org6
contents
City with a soulWe profile one of the most fascinating cities of India and find out how it has evolved over the years, especially in the real estate sector
10 17Real Estate Scenario In ChandigarhThe capital of Haryana and Punjab, the one known internationally for its architecture and urban design, is now a city of choice for real estate
| credaitimesmag.org8
October-December 2014
Live leak-free, damp-freeWe offer suggestions to increase the longevity of a structure with proper waterproofing to avoid leakages
64Simply out of the worldWe bring you five of the best designs from the architecture world
50Chapter NewsGet to know the events and happenings from various chapters of CREDAI that took place across the country
72
A JLL study on Real Estate Scenario In Chandigarh
9October-December’14 | |
Subhasish Chakraborty profiles one of the most fascinating cities of India and finds out how it has evolved over the years, especially in the real estate sector
City with a soultime travel
| credaitimesmag.org10
Kolkata is one of India’s largest cities and with
landmarks like Victoria Memorial, Maidan and
Fort William, Howrah Bridge, Indian Museum,
Eden Gardens, the elegant cathedrals and
churches, pilgrim spots like Belur Math has been
exerting its mesmerising charm to the discerning
international tourists. For discerning tourists, Kolkata is
often an ugly and desperate place that to many people
sums up the worst of India. Yet it is also one of the most
fascinating cities in India and has scenes of rare beauty.
The city was the capital of British India but, unlike Delhi,
Kolkata is not an ancient city with a long history. In fact,
the city is a British invention dating only 300-plus years.
The Raj eRaIn 1686, the British abandoned Hooghly, their trading post
38 kms up Hooghly River from present-day Kolkata and
moved down the river to three small villages – Sutanati,
Govindpur and Kalikata. The name Calcutta (now Kolkata)
originated from the last of those three settlements. Job
Charnock, an English merchant, was the pioneer of the
British merchants who made this move.
The first British post was not a great success and was
abandoned on a number of occasions but in 1696, a
fort was laid out near present-day BBD Bag (Dalhousie
Square) and in 1698, Aurangzeb’s grandson gave the
British official permission to occupy the villages.
11October-December’14 | |
Victoria Memorial is one of the most enduring landmarks of Calcutta and also one of the imposing reminders of British presence
Calcutta then grew steadily until 1756 when Siraj-Ud-
Daula, the nawab of Murshidabad, attacked the town.
Most British inhabitants escaped but those captured
were packed into an underground cellar where during
the night most of them suffocated in what was referred
to as the infamous Black Hole of Kolkata.
In 1757, the British under Robert Clive recaptured
Calcutta and made peace with the indomitable nawab.
However, the nawab sided with the French and in
Battle of Plassey, which was a turning point in British
India’s history, was killed. Later, an impregnable fort
was built in Calcutta and the town became the capital
of British India.
Much of Calcutta ’s most enduring developments
took place between 1780 and 1820. In the 19th century,
however, Bengal became a spark point in the struggle
for India’s Independence and this was one of the major
reasons for the transfer of the capital of British India to
Delhi in 1911. However, the city continued to flourish
until World War II.
PaRTITIon and BeyondPartition (1947) affected Calcutta more than any other
Indian city and had to contend with the horrifying
exodus of thousands of refugees from East Bengal
(present-day Bangladesh). The massive influx of
refugees, combined with India’s own post war
population explosion led to Calcutta becoming an
international urban horror story. In 1971, the India-
Pakistan conflict led to another round of refugee
influx in Calcutta which further deteriorated the
city’s crumbling infrastructure. During this time, the
pioneering work of Nobel Laureate Mother Teresa’s
“Kolkata Mission” focused worldwide attention on
Calcutta’s festering problems.
The MaRxIsT eRaCalcutta and the state of West Bengal have come in
for much criticism for much of the chaos which exists
even today and furthermore the chronic labour unrest,
militant trade unionism and “bandh culture” meant
that most top ranked industries shut down their plants
resulting in a steep decline in productivity. The word
Calcutta was enough to conjure up visions of squalor,
starvation, disease and death.
CITy oRIenTaTIon and Raj-eRa edIfICesCalcutta sprawls north-south along the Hooghly River
which divides the city from Howrah on the west bank.
Like many Indian cities, getting around Calcutta is
slightly confusing and the discerning tourist will come
across Raj era connotations with street names like
Buckland Road, Harrington Street, Middleton Street,
Harrison Road, Theatre Road, Wellington Street etc…
When Calcutta was the capital of British India,
Dalhosie Square, popularly referred to as BBD Bagh
was the centre of power. On the north side is the huge
“Writer’s Building”, the seat of government, which
dates back to 1880. Also, on Dalhousie Square is a
rather more useful place – Kolkata GPO.
A little south of Dalhousie Square is the church of St
John which dates back to 1787. The graveyard here
has a number of interesting monuments including the
octagonal mausoleum of Job Charnock, founder of
Calcutta, who died in 1692.
oTheR BRITIsh edIfICesVictoria Memorial is one of the most enduring
landmarks of Calcutta and also one of the imposing
reminders of British presence. However, the city’s
commercial wealth resulted in quite a few interesting
edifices. Raj Bhawan or the old British Government
House is now occupied by the West Bengal governor.
This magnificent Raj era edifice was built by
Marquess Wellesley between 1799 and 1805 and is
modelled on Lord Curzon’s home, Kendleston Hall in
Derbyshire, UK.
Next to it is Doric style Town Hall and the elegantly
designed High Court which was built in 1872. Just
south of the zoo in Alipur is National Library, the
biggest of its kind in India, which is housed in the
former residence of the lieutenant governor of Bengal,
Belvedere House.
St Paul’s Cathedral, which stands to the east of
Victoria Memorial at the southern end of the Maidan,
is one of the most important churches in India and was
built between 1839 and 1847.
PResenT Real esTaTe sCenaRIo of KolKaTaThe real estate scenario of Calcutta is changing at a
time travel
| credaitimesmag.org12
the turning Point
In 1757, the British under Robert Clive
recaptured Calcutta and made peace
with the indomitable nawab. however, the nawab sided with the french and in Battle
of Plassey, which was a turning point in
British India’s history, was killed. later, an
impregnable fort was built in Calcutta and
the town became the capital of British
India
urban horror story
The massive influx of refugees, combined
with India’s own post war population
explosion led to Calcutta becoming
an international urban horror story. In 1971, the India-
Pakistan conflict led to another round of refugee influx in Calcutta which
further deteriorated the city’s crumbling
infrastructure
frenetic pace. The real estate boom in Calcutta is due to
a combination of factors like the advent of MNC giants
and corporate biggies who are on the lookout for the
right addresses in town and an unexpected increase
in the number of real estate developers for high-end
property segments.
The most heartening fact about Calcutta’s real estate
landscape is that amidst the downward trend in India’s
property graph, Calcutta’s real estate scenario remains
upbeat. Contrary to the sharp fall of property prices
in many metro cities in India, the property prices in
Calcutta are on the rise. The reasons for this real estate
boom in Calcutta, according to real estate consultants
are largely due to a combination of factors like improved
roads and better connectivity, successful completion
of commercial projects in retail and entertainment
segments as well as the aspiration of the masses.
According to Shapoorji Pallonji, “The property prices
in Calcutta are comparatively lesser than what prevails
in some of India’s other metropolitan cities. Irrespective
Building World Class organisations on the pillars of ethics and innovation’. He is a leadership coach, CEO guide and a versatile writer apart from being a motivational speaker
In terms of area covered, Kolkata is the second-largest city in India, after new delhi.
To British rulers, Kolkata, the then Calcutta, was the most important city in India (it was India’s capital too), and the second most important city of the whole British empire, after london.
you often refer to the city as the “City of joy” but did you know its other names — “City of Palaces”, “City of Processions” and the “Cultural capital of India”?
did you know, that till 2006, Kolkata hadn’t had any “Kolkata” station? for mails and expresses, one had to board trains either at the howrah station, located at the twin city of howrah, or at the more local, sealdah station. The current Kolkata station was a railway goods terminal, referred to as the Chitpur station.
all the Kolkatans might just hate the zoo for being filled with dust, but little do they know about the fact that it has the oldest zoo in the country!
The howrah Bridge seems to be the identity of the city—but did you know that it’s the one of the largest cantilever bridges in the world, and the largest (and perhaps the only) one in the country...
Did you know?
13October-December’14 | |
of the segment an investor plans to invest, be it retail,
commercial or residential, the capital values as well as
the rental element are much less when compared to
other metro cities like Delhi, Mumbai and Bengaluru.”
Even though Calcutta lags behind cities like Delhi,
Mumbai, Hyderabad and Bengaluru in terms of the
size of real estate investment, the market in Calcutta
is among the most stable in India and one point worth
noting is that in Calcutta’s real estate landscape, it is the
end user which propels the real estate markets.
RajaRhaT new Town – CalCuTTa’s fuTuRIsTIC CITyRajarhat or New Town as it is popularly referred to is
literally an extension of Calcutta. This spanking new
township is all of 28 sq km and is located in North 24
Parganas. This new township has gradually emerged as
the IT hub of eastern India and the residential hub that is
coming up on the northeastern edge of the township has
Rajarhat new Town is three times the size of the neighbouring salt lake City and this one-of-its-kind satellite town has already been designated as a solar city
been much appreciated by the affluent NRIs.
The entire township primarily consisted of acres
of cultivable land and wetland areas which has been
acquired by the state government and is being developed
in a planned manner. Rajarhat New Town is three times
the size of the neighbouring Salt Lake City and this one-
of-its-kind satellite town has already been designated as a
solar city by the government at the Centre and initiatives
have already been taken to declare this city as Smart
Green City.
The township has of late been enabled with an
exclusive 10.5 km of wi-fi zone which literally connects
the Rajarhat Main Arterial Road all the way to the
airport and Sector V, thereby conferring this township
with India’s first wi-fi road connectivity. This exclusive
area has already been declared as a green corridor.
RajaRhaT MeTRoPolITan landsCaPeRajarhat New Town has three exclusive areas, Action
Area-I consists of shopping malls and high-end
commercial plots with Action Area - II quintessentially
being the Central Business District consisting of plots for
state-of-the-art apartment complexes and institutional
plots as well as dedicated IT parks. On successful
completion of the project, Action Area-II will be home
to Kolkata Museum of Modern Art, an exclusive green
time travel
| credaitimesmag.org14
belt with an eco-park around a large water body. In
Action Area-IIC, there will be exclusive residential
housing projects by Akankha, Sunrise Point, Hiland
Woods, Starlit, Moonbeam Housing etc. Action Area-
III will primarily consist of high-rise apartments and
planned sub-townships like Sukhobristi and Uniworld
City. Exclusive residential complexes like DLF Newtown
Heights, Unitech Uniworld City, Shrachi Rosedale,
Tata Eden Court and Keppel Elita Vista promises to
make this part of Rajarhat New Town one of the most
valued real estate areas of eastern India. Through the
untiring efforts of the state government, some of the
country’s most prestigious educational institutes like IIT
Kharagpur, St Xavier’s College and IT biggies like Wipro
and Infosys are likely to set up their campuses here. For
art connoisseurs, an elegantly designed arts institute has
come up in Action Area-III.
Rajarhat New Town has already evolved as Kolkata’s
second IT hub with IT companies like TCS and Wipro
having been allotted space. Real estate companies like
DLF, Unitech Group, Shapoorji Pallonji, Tata, Singapore-
based Keppel Land, Bengal Peerless, Ambuja Realty
etc are all engaged in developing state-of-the-art
commercial and residential projects, some of which
have already begun operations.
Once complete, the Rajarhat New Town area is
going to be the hub of elite segments of society. The
enthusiasm of the Non Resident Indians (NRIs) for
acquiring residential and commercial spaces augurs
well for future and this area can look forward to a rather
effervescent cosmopolitan mix of populace.
wIndow of The easTThe winds of change is blowing in the air of Bengal.
With an economy beginning to show signs of revival
and a slew of developmental projects, Kolkata
is one Indian city that is fast catching up with its
counterparts in Delhi, Mumbai and Bengaluru in
terms of business development.
Whoever said Kolkata is a dying city with its
potholed roads, closed down industries, trade
unionism, poverty and squalor should have a second
look at the resurgent Kolkata of 2014 and one great
way to know the pulse of this incredible city is by
paying a visit to unearth its captivating charm like a
veil slipping out from the face of a beautiful woman.
According to Cushman & Wakefield, the real estate
scenario of Kolkata is expected to remain stable in
near future. A feature of city’s real estate landscape
is its conservative nature which has sheltered it from
crashing downhill abruptly.
faBulous ConneCTIVITyOver the years, the Kolkata International Airport
has evolved as the aviation hub in eastern India with
regular flights being operated by international airlines
which has made Kolkata accessible to international
tourists. Ideally, Kolkata with its varied charms, is
an ideal base to embark on a journey of discovery,
particularly to the unexplored Northeast.
VIBRanT CulTuRe and PulsaTIng nIghTlIfeKolkata is renowned for its culture – films, poetry, art
and dance. It is a city with a soul. The stark contrast
between Mumbai and Kolkata film industries more
or less sums it up. While Mumbai churns out movies
of amazing tinsel banality, the limited number of
producers in Kolkata make non-commercial movies
that stand up to anything produced for sophisticated
Western movie-goers.
In terms of nightlife, Park Street is the most
happening place in Kolkata where you can rock
in discos or indulge in gastronomic delights in
fashionable eateries that serve anything from
Japanese to Lebanese and Swedish to Samoan. If
you happen to be a film buff, a visit to Nandan is a
must as it has a fine collection of movies ranging
from Satyajit Ray to Kurosawa. Theatre or jaatra
is still alive and kicking in Kolkata despite the
onslaught of modernity and many of them present
revolutionary themes.
The City of Joy is ready to welcome the world, with
rossogullas, of course!!.
time travel
| credaitimesmag.org16
Connect
The Kolkata International
airport has evolved as the aviation hub
in eastern India with regular flights
being operated by international
airlines which has made it accessible
to international tourists. Kolkata
with its varied charms, is an ideal
base to embark on a journey of discovery,
particularly to the unexplored
northeast
Real estate scenaRio in chandigaRh
A study by JLL on
20The City Beautiful
22economic Base
24advantage Chandigarh
25demographic Trends and socio-economic Profile
27Residential Real estate in Tri-city
29development
31Mohali
36Mullanpur
38Zirakpur and surrounding areas
41Panchkula
cont
ents
The ‘City beautiful’On Growth Radar
DELHI
CHANDIGARH
250
km
19October-December’14 | |
U r b a nDevelopment in CHANDIGARH
Chandigarh was the first planned city post-
Independence from the British rule in 1947. Albert Mayer,
an American planner, first conceived the city but later was
overtaken by French architect-planner Le Corbusier. He
planned it as an analogous to human body with a clear definition:
» Head (the Capitol Complex, Sector 1)
» Heart (the City Centre, Sector 17)
» Lungs (the Leisure Valley, Innumerable Open Spaces and
Sector Greens)
» Intellect (the Cultural & Educational Institutions)
» Circulatory System (the Network of Roads, the 7Vs)
» Viscera (the Industrial Area)
But in the early 70s, Mohali and Panchkula emerged as alternate
cities to cater to the increasing population of Chandigarh. The
migration of people from neighbouring states in search of livelihood
Chandigarh City, the one known internationally for its architecture and urban design is now a city of choice for real estate
The ‘City Beautiful’
created immense pressure on the city thereby resulting in formation
of two counter growth cities. Today, Mohali and Panchkula have
amalgamated under Chandigarh urban agglomeration. The
metropolitan of Chandigarh-Mohali-Panchkula collectively forms
a Tri-city. Recently, suburbs like Mullanpur (New Chandigarh),
Zirakpur, Dera Bassi and Kharar are emerging as an alternate
extension to the Tri-city.
Chandigarh is located at a distance of around 250 km from the
country’s National Capital, New Delhi, near the foothills of Shivalik
range of Himalayas in northwestern direction of India. The city is
located in the centre of the Tri-city. It is connected to Panchkula in
its east while urban settlement of Mohali is only a continuation of
the sectors towards southwest end of Chandigarh. Region enjoys
excellent connectivity to the neighbouring cities via road, rail and air.
National Highways Nos. 21 and 22 connect the study region to rest
(Union Territory)
FactFile
Capital and Gateway the first
planned city post-Independence
area
114 sq km
2.1 million(Census 2011)
eConomiC Base Goverrnment Services,
Idustries, Banking, Financial Services and Insurance, Health and Education,
Emerging IT/ITeS
population
City is planned as
analogous to human body with a clearly defined
Head (the capital complex, sector 1)Heart (the city centre, sector 17)
Intellect (the cultural & educational institutions)
Lungs (the leisure valley, innumerable open spaces and sector greens)
Viscera (the industrial area)Circulatory system (the network
of roads, the 7Vs)
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U r b a nDevelopment in CHANDIGARH
of the country and Chandigarh railway station offers daily
connectivity to Delhi. Chandigarh airport, proposed to be
upgraded to an international facility, is located 8 km from
city centre of Chandigarh and connects the city to various
important cities in the country.
According to the 2011 census, the defined region
had a combined population of 2.1 million, (source: Census
of India, 2011). The immense increase in population in
the last one decade is primarily attributed to migrant
population attracted by growth in the business activity
within the region.
ZirakpurIt is an emerging town in the state of Punjab and is
considered as the wedding capital of Chandigarh Capital
Region with about 80 per cent of wedding banquets and
resorts of the region located here. It is also one of the fast
emerging residential areas, attracting high number of end
users / investors due to attractive pricing and scarcity of real
estate within the Chandigarh city.
PanchkulaPanchkula is a planned city located in the state of Haryana.
The city houses the headquarters for the Western
Command of Indian Army. It has a mixed economy
comprising of agriculture, service and industry. Bharat
Electronics Limited (BEL – Government of India enterprise),
setup on 58 acres of land in Panchkula Industrial area is one
of the largest industrial setups in the city.
MohaliIt is a prominent district within the state of Punjab, located
adjacent to Chandigarh and houses one of the largest
cricket stadiums in the country. It is home to companies like
Punjab Tractor limited, ICI Paints and the Godrej Group. It is
also home to various private developers, large townships,
upcoming retail malls, a prominent SEZ development viz.
Quark C, mega projects in various stages of planning and
construction stages, proposed Grade A commercial offices
and eminent upcoming hotels.
MullanpurMullanpur, also known as New Chandigarh is an extension
of Chandigarh towards Sector 14 and falls on the
Chandigarh-Baddi Road. Located close to Chandigarh, the
area has attention from various developers which were
looking to explore Tri-city for real estate development.
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
Chandigarh is located at a distance of around 250 km from the
national Capital of new Delhi,
near the foothills of Shivalik range of himalayas in northwestern direction of
india. the city is located in the
centre of the tri-city along
with Panchkula and mohali
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U r b a nDevelopment in CHANDIGARH
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U r b a nDevelopment in CHANDIGARH
government services, Industries, Banking, financial services and Insurance, health and education, emerging IT/ ITes
Economic Base
government and administrative services Chandigarh as a union territory and capital for two states - Punjab and Haryana
- has a large number of government institutions providing administrative
framework to three governments. Chandigarh’s own industrial growth together
with the growth in adjacent areas of Punjab, Haryana and Himachal Pradesh
has made the city highly attractive for banks and financial institutions. Besides
the administrative offices, legislative assemblies, secretariats and high courts
for the three governments, offices for the following organisations are located
in Chandigarh - National Thermal Power Corporation (NTPC), National Hydro
Electric Power Corporation (NHPC), Industrial Finance Corporation of India
(IFCI), Indian Oil Corporation (IOC), Federation of Indian Chambers of Commerce
and Industry (FICCI), PHD Chamber of Commerce and Industry (PHDCCI),
Confederation of Indian Industry (CII). The government is a major employer
in Chandigarh with three governments having their base here. A significant
percentage of Chandigarh’s population therefore consists of people who are
either working for one of these governments or have retired
from government service.
industrialThere are about 15 medium to large
industries including two in the public
sector. In addition, Chandigarh
has over 2,900 registered units
in the region besides the ones
in Baddi. The important
There are about 15 medium to large industries including two in public sector
industries include light engineering, manufacturing
of tractor components, agricultural equipments,
pharmaceuticals, basic metals and alloys, light electronic
items, paper and paper products, plastics, wooden
furniture, synthetic and woolen textile. Pharmaceutical
has been the most benefited sector due to the excise
and tax incentives offered for new industrial setups in
Baddi Industrial Corridor, as a result many of the leading
pharmaceutical companies have set up manufacturing units
in Baddi.
Large industrial houses include Bhushan Power and
Steel Limited and Avery Cycle in Chandigarh, HMT and
ACC in Pinjore, Bharat Electronics Limited in Panchkula,
Punwire and Puncom (Punjab State-promoted companies),
Godrej, Verka Milk and Milk Products unit and Ranbaxy unit
are based out of Mohali. Major investors at Baddi include
Alkem Laboratories Ltd with a `60- crore investment
plan for a new formulations plant, USV Limited with two
manufacturing facilities and an investment of `80 crore,
Glenmark Pharmaceuticals Ltd, Dr Reddys Ltd, Indoco
Remedies with a `25 crore tablets, creams and medicated
toothpaste facility, Bengaluru-based Bal Pharma with a
`20 crore tablets and capsuling facility and Unichem Labs
with two new plants at an investment of 4̀0 crore and
`32 crore.
Unichem is already operating a betalactum plant in
Baddi. Delhi-based Promed is investing `25 crore and the
Hyderabad-based Pulse Pharma with another 6̀ crore
facility. Morepan Laboratories, which started two units
at 6̀0 crore and `50 crore (bulk drug) about two years
ago, is further developing a `20 crore biotech research
project with US collaboration. The town also saw MNCs
like Colgate Palmolive, Procter & Gamble, Hindustan
Unilever, Cadburys, Johnson & Johnson setting up their
manufacturing facilities.
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U r b a nDevelopment in CHANDIGARH
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emerging it/ ites BaseChandigarh IT Park (also known as Chandigarh Technology
Park) is the city’s attempt to break into the IT world.
Infrastructure, proximity to Delhi, Punjab and Haryana, and
the IT talent pool attracts IT businesses looking for office
spaces in the area. Major Indian firms and MNC including
Quarks, Infosys, Dell, and Ranbaxy have offices in the city
and its suburbs. long with Chandigarh Technology Park,
Quark City, Fashion Technology Park, Bio-Tech. Park
are also the emerging IT destinations in the suburbs ie in
Mohali, Sarangpur (Chandigarh Periphery village).
Promoted by Chandigarh Administration, Rajiv
Gandhi Chandigarh Technology Park (RGCTP) is a regional
IT hub for Chandigarh, Mohali and Panchkula which is
also approved as a Special Economic Zone. The IT Park is
spread over an area of 643 acres and is being developed
in a phased manner. Phase I of the said development
(111 acres) and Phase II (250 acres) has been allotted and
houses prominent IT/ ITeS companies like:
» Infosys Technologies is spread over 30 acres
with built-up area of 525,000 sq ft office space
(operational)
» DLF Limited has developed 625,000 sq ft of office
space spread over 12.5 acres which is occupied
by companies like IBM Daksh, Outer Bay and Net
Solutions (operational)
» Tech Mahindra
» Bharti Telecom
» ESYS Ltd
» Amadeus
» KMG
» FCS
» Alchemist
» Microtek
» Wipro Technologies (~30 acres under construction).
60 companies are registered with stPi and employ over 8,000 professionals in and around chandigarhThe total investment in mega projects in the Greater Mohali
Region is estimated to be around 4̀35 billion from 2007 to
2011 ie about 12 times the estimated economic output of
the Greater Mohali Region in FY 2007.
The major investment in the Greater Mohali Region
is expected in residential properties, business parks
and office space to accommodate IT/ITeS operations,
multiplexes, industrial parks and hotels. The planned
investment in creating floor space for IT/ITeS operations
in the Greater Mohali Region is `80.8 billion. The industrial
park for IT/ITeS and high-tech knowledge based activities
on the Zirakpur-Banur road is the biggest project in the
sector at an estimated investment of 1̀5.8 billion by
Futuristic Technology Infrastructure Private Limited.
Twelve new industrial parks are expected to be developed
in the Greater Mohali Region with 18% (`75.16 billion) of
total proposed investments in the Greater Mohali Region.
Recently Punjab Government has successfully
signed 117 agreements with both domestic and overseas
companies involving investments of over 6̀5,000 crore.
Big corporate like RIL had announced investment of `2,500
crore, Airtel had also announced to invest 4̀,000 crore, ITC
had announced to set up a food processing industry while
Fortis Healthcare had also promised to invest 1̀,100 crore
in the healthcare sector.
Promoted by Chandigarh
administration, rajiv Gandhi Chandigarh
technology Park (rGCtP) is a
regional it hub for Chandigarh,
mohali and Panchkula which is also approved
as a Special economic Zone.
the it Park is spread over an
area of 643 acres and is being
developed in a phased manner
Chandigarh is becoming one of the preferred
investment hotspots in the country. Its
efficient infrastructural facilities together
with large green spaces make it an ideal
work destination. It is easily accessible from all the
neighbouring cities like Punjab, Haryana, Delhi, Jammu
and kashmir, etc. As a result, it has lots of investment
opportunities in the tourism sector. Chandigarh’s
economy is dominated by various industrial units relating
to food products, repair services, basic metals and
alloys, machinery, etc. Also, due to competent human
resource base, it is a preferable place to the global
information technology (IT) companies and has the
potential of becoming a knowledge city in the years to
come. the Chandigarh administration aims to create a
knowledge-based society through extensive use of IT.
The ultimate goal is to use IT as a medium for effective
interaction between the administration and the public, so
that exchange of information and access to Government
departments is speedy and easy. Accordingly, the
city government has formulated an IT policy in order
to promote the application of IT for the benefit of the
people, to implement e-governance, to generate
employment and thus to attract investment in the IT field.
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U r b a nDevelopment in CHANDIGARH
Advantage Chandigarh
Preferred investment destination
Stable Political ScenarioCapital of two states of
India - Punjab & HaryanaCounter magnet to Capital of
India - New DelhiAdequate development policies and regulations
People from surrounding states prefer Chandigarh and surrounding areas
for shopping and entertainment
Emerging IT/ITes destination, with major players such as Infosys, Tech Mahindra already
present in the city
Educational destination for the students of Punjab,
Haryana and Himachal Pradesh. Thus availability of
qualified manpower
Planned city of the country, being inhabited by population
belonging to hight and medium income groups
exhibiting a cosmopolitan life style
Region that includes Chandigarh, Panchkula and
Mohali offers population base of around 15 lakh that offers good potential for medium to
large range of projects
Knowladge pool of around 30,000 qualified professionals per annum
First organized City in India and world famous for its architecture & urban design
Excellent Business opportunities (in resource & knowledge based indusry)
Chandigarh has scored the number one position in Himan development index
Growth in it/ites sector and industrial sector
Proposed theme based townships like education city, eco city, medical city aero city among others will play major role in city economy as well as infrastructure
CHandIgarH adVantage
Chandigarh was planned for a
population of half-a-million. In
Phase I, 36 sq km of land was
acquired by the city administration
for construction of 30 sectors. Land for 17
additional sectors (Sector 31 to 47) was
acquired and developed during the second
phase to cater for a population of 350,000. The
predominance of ¾ storey apartments in the
second phase provide for higher population
dimension. However, Chandigarh has now
grown beyond its planned capacity. Hence,
development in the third phase has started in
sectors 48 and beyond. The Union Territory
of Chandigarh has a total area of 114 sq km
and has witnessed decennial population
growth (2001-2011) of 26.86%. By 2021, the
population of Chandigarh is projected to be
around 19.5 lakh (at current rate of growth)
almost four times, for which it was originally
built. Although Chandigarh shows a positive
decadal growth rate, this rate is steadily
decreasing in each decade.
decadal growth Rate of chandigarh
decadal growth Rate
of other cities in
chandigarh Region
census Year 1971 1981 1991 2001 2011Population 257,477 452,000 642,000 808,515 1,055,450
Decadal Growth Rate (%) +75.55 +42.16 +25.93 +30.50
census Year 1981 1991 2001 2011Mohali
Population - 78,500 123,484 166,864
Decadal Growth Rate (%) - - +57.07 +35.10
Panchkula
Population - 70,400 141,000 211,355
Decadal Growth Rate (%) - - +100.02 +49.90
Dera Bassi
Population 7,421 9,602 15,841 26,295
Decadal Growth Rate (%) - +29.39 +64.98 +66.00
Source: Census of India, 2001, 2011 & Chandigarh City Development Plan
Demographic Trends and Socio-Economic Profile
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U r b a nDevelopment in CHANDIGARH
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chandigarh tri city demographic
individual cities
demographic snapshot
The level of income and propensity to consume are the basic
parameters to indicate the economic profile of the population of
any city. This also gives a fair idea about the saving pattern of the
people. The annual per capita income of Chandigarh is approx. INR
556,780. (Source: City Skyline Data, 2011-2012). Based on the City
Skyline data, 2011-2012 the number of households in Chandigarh
is estimated to be 265,500 with approximately 26% being classified
as SEC A & B. The city is one of the largest hub for High Net Worth
Individuals (HNWI/ HNIs), followed by Mumbai, Delhi and Bengaluru.
Overall the socio-economic profile of the city provides information
about the fact that the market is lucrative for the development of
organised retail sector.
Socio-Economic Profile
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U r b a nDevelopment in CHANDIGARH
Residential Real Estate in Tri-city
Real estate in the region largely has been
governed by the development authorities
for a long period of time and the role of
private developers had been marginal in
the study region. Chandigarh administration, Haryana
Urban Development Authority (HUDA) and Punjab
Urban Development Authority (PUDA) are the major
developers involved in real estate development. Though
this type of model with major presence of government
run development authorities has ensured lesser
investment risks for individual small-time investors but
has also slowed down the process of development in the
long run and has generated lesser options available for
the end-users and buyers.
For a long period of time, private developers
existing in the city were involved in small projects
and most of them were working as real estate agents.
Gradually innovative steps were taken by some local
developers like Bajwa Developers, Silver City, Shivalik
City and Dhillon Group among others. As a result,
Chandigarh region has started attracting the attention
of developers and investors from all over the world.
Consequent to the initiatives undertaken by local
developers, large number of developers with national
and regional repute started focussing on Chandigarh and
surrounding areas for the development of residential,
CHandiGarHseC
Classifications
commercial and retail projects. Major among these were
DLF, Unitech, Emaar, Parsvnath, TDI, Today Homes
and Infrastructure, Chadha group, Shipra Estate, Pearl
Group, Uppals, Ansal API, Suncity, Paras among others
who already have announced/ launched their projects
in the region. However, the pace of development of the
proposed projects is witnessed to be quite slow at present
with the real estate market of Chandigarh experiencing
dearth of buyers, which has created a sudden oversupply
situation of real estate stock in the region.
Residential markets in the study region have
observed a significantly high upswing in property
prices in the past few years. Developments such as
Chandigarh Technology Park and Quark City have
accorded considerable impetus to the local economy
of Chandigarh and the surrounding region. Land prices
observed an upsurge to the tune of 300% since 2006
in the area around Chandigarh. However, a downfall of
Major Residential Zones of chandigarh Region
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
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U r b a nDevelopment in CHANDIGARH
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For a long time, private developers were involved in small projects and most of them were working as real estate agents
5%-15% from the average price was observed during the
period from Q2 2008 to Q1 2009 primarily owing to the
country’s economic slowdown. However, the impact of
the slowdown was overcome within three quarters and
the market normalised with good absorption rates post-
3Q 2009.
Chandigarh and the surrounding area is becoming an
important destination for developers, investors and end
users. The residential real estate sector, which witnesses
majority of the activities happening around the region, is
both investment and end-user driven.
Several residential blocks are coming up in the
outskirts of the city, major among which are sector
grids of Mohali, Kharar Road and Ambala Road. The
price of the freehold plots has increased at a rapid pace
but exhibits more or less similar trend in all the corners
of the city. Many developers of regional, national and
international repute are coming up with their residential
colonies in the study region. In Chandigarh, Panchkula and
Mohali, only few residential plots are available for resale.
The already built area is almost 85% occupied with
negligible scope for further expansion. In Chandigarh the
residential land rates for up-market posh residential areas
ranges from `1,75,000 to `2,50,000 per sq yd for vacant
plots whereas in Panchkula, it ranges from `75,000-
`1,00,000 per sq yd. Price in developed areas of Mohali
vary between `30,000 and `75,000 per sq yd while the
price of residential plots in the upcoming areas of Mohali
along Kharar-Landran Road, Landran-Banur Road and
Chandigarh-Kharar Road range between `15,000-
`22,000 per sq yd. Some prominent developers like
Unitech, Emaar and TDI command capital prices ranging
between `21,500-`29,000 per sq yd for residential plots.
The periphery areas of Chandigarh city initially
witnessed scarce development by private developers for a
long span of time. However, since the last five to six years,
these areas have witnessed the involvement of several
local and regional private players who have started taking
interest in developing residential colonies in the Tri-city.
This was primarily because of paucity of land supply in
the mother city – Chandigarh. After Panchkula and Mohali
were developed as Chandigarh’s satellite towns, focus
was shifted towards the development of the fringe areas
of Kharar, Zirakpur, Dera Bassi and Pinjore which are
at present witnessing the growth of several large and
medium scale residential developments.
Apart from local promoters, many national level
developers have also launched their residential projects
in these areas. The average area of these residential
colonies ranges from five acres to 1,000 acres. Although
most of the demand for residential plots in these upcoming
colonies is investment driven from various NRIs of the
region, a large portion of the demand is also generated
from the end users.
The cost of the plots in these upcoming colonies
varies according to the location of the colony, facilities
provided, developers’ image and size of the colony. To
understand the residential real estate market in better
way, the study region can be divided into different
parts as follows:
» Chandigarh
» Mohali
» Mullanpur
» Zirakpur and surrounding areas.
» Panchkula and surrounding areas
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U r b a nDevelopment in CHANDIGARH
Chandigarh and surrounding areas are becoming an important destination for developers, investors and end-users
the periphery areas of
Chandigarh city initially witnessed
scarce development
by private developers for a long span of time. however, since the last
five to six years, these areas have
witnessed the involvement of
several local and regional private
players who have started
taking interest in developing
residential colonies in the
tri-city. this was primarily
because of paucity of land supply in the mother city – Chandigarh
Development of Chandigarh region has
been largely governed by development
authorities for a long period of time with
limited role of private developers. Chandigarh
Administration and Chandigarh Housing Board were the
major stakeholders involved in real estate development.
However, over the period of time, government has realised
the benefits of involving the private sector in development
of urban areas, required for rapid pace of delivery of
housing units to shorten the gap between demand and
supply of dwelling units.
From an administrative standpoint, Chandigarh has
been divided into three phases: Phase I (Sectors 1-30),
Phase II (Sectors 31-47) and Phase III (Sectors 48-56).
Moreover, depending on the typology of development, the
Chandigarh residential market can be divided into four broad
typologies viz independent bungalows, housing board flats/
apartments, group housing apartments and independent
floors.
Sectors 1 to 5 accommodate government dignitaries
at high positions, namely the governor, ministers and
members of state legislative assemblies among others.
These accommodations are in the form of flats and
bungalows. Other prominent developments in these
sectors are the High Court, Union Territory offices and
other government offices. Sectors 6 to 11 predominantly
accommodate plots admeasuring eight kanal (approximately
4,000 sq yd) and bungalows housed on plots measuring
approximately four kanal (approximately 2,000 sq yd).
The prices of residential plots in these sectors range from
`200,000-`300,000 per sq yd. Sectors 15-30 accommodate
relatively smaller plots. The plot sizes in these sectors
vary from six marla (approximately 150 sq yd) to four
kanal (approximately 2,000 sq yd) with capital prices for
residential plots in these sectors varying between `125,000-
`200,000 per sq yd.
Punjab University is located in entire area of Sector
14 with Sectors 15, 16 and 24 providing paying guest
accommodations within the city. Given the balanced
development of Chandigarh, educational institutions
are located in most of the sectors. Chandigarh being an
educational destination at the regional and state level,
students from various cities come to Chandigarh thereby
generating demand for paying guest accommodations. The
plot sizes in Sectors 31-56 are relatively smaller, with sizes
ranging between five marla (approximately 125 sq yd) to
two kanal (approximately 1,000 sq yd). The prices of plots in
these sectors are witnessed to be comparatively lower.
The only upcoming integrated residential township
development in Chandigarh is Parsvnath Pride Asia which
is being developed by Parsvnath Developers Limited
and Chandigarh Housing Board. This development,
proposed over approximately 123 acres is located near
village Kishangarh and was won by the developer in an
The government has realised the benefits of involving private sector in development of urban areas
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U r b a nDevelopment in CHANDIGARH
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Development
Chandigarh has been divided into
three phases: Phase i (Sectors 1-30), Phase ii (Sectors 31-47)
and Phase iii (Sectors 48-56).
Depending on the typology of development,
the Chandigarh residential
market can be divided into four broad typologies viz independent
bungalows, housing board
flats/apartments, group housing
apartments and independent
floors
decadal growth Rate of chandigarhsectors/ Residential developments
typology Pricing trend
Developed Residential Sectors in Chandigarh
Sector 1 to 5 and Sectors 6 to 11 Flatted and bungalow developments which accommodate government dignitaries with plot sizes of approximately 2,000-4,000 sq yd
Plots: `200,000-`3,00,000 per sq yd
Sector 15 to 30 Smaller plot sizes of approximately 150-2,000 sq yd
Plots: `1,25,000-`200,000 per sq yd
Plots: INR 1,25,000-200,000 per sq. yd.
Plots: `1,25,000-200,000 per sq. yd. Plots: `1,25,000-`200,000 per sq yd
Private Residential Developments in Chandigarh
Parsvnath Pride Asia, a collaboration of Parsvnath Developers and Chandigarh Housing Board
Integrated residential township development with villas and group housing, Grade A office space and organised retail development
Observed high absorption at launch price of `6,500-`7,000 per sq ft capital price
Uppal’s Marble Arch at Mani Majra in Chandigarh
3-BHK and 4-BHK luxurious apartments of sizes between 2,050-2,650 sq ft
`15,000-`16,000 per sq ft
Modern Housing Complex by Chandigarh Housing Board
2-BHK and 3-BHK apartments Capital price of approximately`6,000- `8,000 per sq ft (approximately 50% lower rate than residential developments by private developers due to differences in product specifications)
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
Plotted Residential typology in chandigarh
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U r b a nDevelopment in CHANDIGARH
open competitive bid. This integrated township proposes residential
development in the form of villas and group housing, with commercial
components of Grade A office space and organised retail development.
This project observed high initial response at a launch price of `6,500-
`7,000 per sq ft for apartments. The project has been on hold for last
two-three years. Another prime residential development known as
Uppal’s Marble Arch is developed by Uppal Group in Mani Majra. It is
spread over an area of approximately 5.39 acres and hosts world-class
168 ultra-luxurious apartments. This project offers state-of-the-art
facilities like swimming pool, health club, gymnasium, wi-fi connectivity
and corrosion-free buildings. Marble Arch offers three- and four-BHK
residential units with a resale price in the range of `15,000-`16,000
per sq ft. The unit sizes of apartments range between 2,050 sq ft and
2,650 sq ft. Other government residential projects such as Modern
Housing Complex by Chandigarh Housing Board in Mani Majra are
selling between INR 6,000 and 8,000 per sq. ft., which is lower than
the prices commanded by private developers owing to typology and
specifications of the developments.
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Mohali
The real estate boom striking the country
in 2005 encouraged several national and
local developers of repute to come up with
residential township and organized retail
space developments. Lack of space in main Chandigarh
city resulted in the emergence of Mohali as the next
ideal location for real estate developments. Since then
the satellite town of Mohali has been witnessing the
development of large and medium scale residential
township and group housing projects.
With gradual emergence of Mohali as an ideal
destination for real estate developments, the residential
market in Mohali observed a significant upswing in
capital values of properties. Recent developments of
Chandigarh Technology Park, Chandigarh Industrial
Area and Quark City have influenced the local economy
of Chandigarh and the surrounding region to a
considerable extent.
Initially, private developers did not play much role
in the real estate development of Chandigarh region.
However, since the last three-four years the private
players have also started taking interest in developing
real estate projects mainly residential developments in
surrounding areas of Chandigarh viz Panchkula, Mohali
and Zirakpur-Dera Bassi. This was primarily due to the
reason that there were not many land parcels available
in Chandigarh and the only procedure for development
was by recycling larger plots for construction of group
housing projects.
Several local and national level developers viz.
Emaar, Unitech, TDI, JLPL, Pearl Infrastructure and
Chaddha group among others are coming up with
considerable number of residential projects in Mohali
and the area of these residential townships varies
from five acres to 1,000 acres. The prices in these
colonies differ according to location, connectivity and
accessibility, product mix, branding and developer’s
profile. Demand for residential real estate sector being
witnessed in Mohali micro market is both investor and
end user-driven.
After Chandigarh, Mohali has always been the best
choice for residential development. It has already been
developed till Sector 70 while development of Sectors
71 to 125 is under process. Many developers of national
and regional repute have already occupied large areas in
these sectors. Major among these are Emaar, Unitech,
Chadha group, TDI Group, Pearl Infrastructure, Ansal API,
JTPL and JLPL among others.
Majority of these developers are coming up with
integrated townships offering villas, plotted, independent
floors and group housing, commercial (Grade A office
space), organised retail and IT/ITeS development while
initially, private developers did not play much role in
the real estate development
of Chandigarh region. however,
since the last three-four years
the private players have also started
taking interest in developing
real estate projects mainly
residential developments in surrounding
areas of Chandigarh
viz Panchkula, mohali and
Zirakpur-Dera Bassi
After Mohali, Kharar is the next best option for the people working in Mohali and Chandigarh
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
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U r b a nDevelopment in CHANDIGARH
few other regional and local developers are coming
up with group housing projects spread across phases
(depending upon the size of the project). Janta Estates
and Housing Ltd was the first company to launch a plotted
residential colony in Sectors 90, 91 and industrial plots in
sector 82.
The upcoming residential developments in Mohali
can be classified into regions depending upon their
location and accessibility. The upcoming residential
developments can be categorised as:
» Along Chandigarh-Kharar Road, with access from
main Chandigarh-Kharar Road
» Along Kharar-Landran Road, between Kharar
and Landran, with access from main Kharar-
Landran Road
» Along Landran-Banur Road, between Landran
and Banur wherein most of the projects are
accessible from Landran-Banur Road while some
projects are located off the Landran-Banur road in
proximity to the developed sectors of Mohali and
can be accessed through sector roads of Mohali.
Upcoming Prominent corridors witnessing Residential development in Mohali
chandigarh-Kharar RoadThis 200 ft wide road originates from Chandigarh and
traverses through Sector 57 Mohali and leads towards
Kharar. The road then further moves towards Ropar and
Ludhiana. After the development of Mohali, Kharar is the
next best option for the people working in Mohali and
Chandigarh to satisfy their residential demands. Because
of increasing demand for residential units along this road,
the land price has also observed an increasing trend in
this area. Hence, many developers who have launched
their residential projects along this road have received
overwhelming demand for their respective residential
earlier, it was only local
developers who were coming up with their projects but
gradually the increasing
demand and the increasing trend observed in capital prices have attracted the attention
of national and international developers. along with
the horizontal development
(plotted development),
some developers are also coming up with vertical developments (apartments)
33
U r b a nDevelopment in CHANDIGARH
October-December’14 | |
typologies. Many colonies located along this road have
already been developed and readily absorbed where
construction for individual houses has already started.
This indicates on the intention of the buyers to utilise
the units for their own usage. The total area of these
colonies ranges from five acres to 200 acres. Residential
plots of varied sizes (100 - 500 sq yd) are available in
these colonies.
Earlier, it was only local developers who were
coming up with their projects but gradually the increasing
demand and the increasing trend observed in capital
prices have attracted the attention of national and
international developers. Along with the horizontal
development (plotted development), some developers are
also coming up with vertical developments (apartments).
The price varies according to the nearness to Chandigarh,
connectivity with main roads and infrastructure facilities
and amenities being provided by the colony.
Gulmohar Complex, Sunny Enclave, Gilco Valley,
Palm Village and NRI Colony are fully-developed colonies
whereas TDI had launched its project at `6,800 per sq yd
in 2005 and is available on resale at a capital price ranging
between `20,000-`35,000 per sq yd. Sunny Enclave
and Palm Village offer apartments and villa typology of
development while Gilco Valley offers plots along with
apartments and villa typology. The plots in Gilco Valley
are available at a capital price of `28,000 per sq yd while
the apartment prices in these residential developments
along the Chandigarh-Kharar Road ranges between
`3,000-`3,500 per sq ft.
Kharar-landran Road between Kharar and landranKharar is a small town located at a distance of
approximately 15 km from Chandigarh which is connected
to Kharar by two major roads, one emerging from Sector
57 (Chandigarh-Kharar Road) and the other traversing
from Landran village to connect to Kharar at one end
and Banur at another end known as Kharar-Banur Road.
Both these roads are experiencing similar real estate
sector trends with several residential and commercial
developments coming up along both these roads. All
these colonies attract MIG, Upper MIG and HIG segments
of the population. Some of the prominent residential
projects along this road are Ansal’s Orchard County,
Tulip and Carnation Towers, Ansal’s Golf Links, Parkwood
Glade, RKM City, Skyrock City and Skylark Eco Homes.
Most of these developers are mostly coming up
with 2/3/4 BHK apartments while some developers
like Skyrock City and JTPL is coming up with plots and
independent floor typology of development respectively.
The capital price of apartments along this corridor ranges
between `2,500-`3,600 per sq ft while the plots are
commanding a capital price ranging between of `15,000-
`25,000 per sq yd.
landran-Banur Road between landran and BanurThe stretch along Landran-Banur Road, between
Landran and Banur, is witnessing the emergence of
several residential developments mainly by reputed
national developers which are coming up with large-scale
residential developments with varied typology of villa,
group housing, independent floor and plots. Most of these
residential projects are located along the Landran-Banur
Road and are accessible from this road. The prominent
projects located along Landran-Banur Road are namely
Mohali Hills by Emaar, Pearl City by Pearl Infrastructure,
TDI City by TDI Group and Uniworld City by Unitech.
A mix of plotted and group housing developments
has been launched in this part of Mohali in these projects.
The average size of 2-BHK apartment ranges between
1,275 and 1,375 sq ft with 3-BHK apartments varying
between 1,400 and 1,800 sq ft. Market prices of these
dwelling units range between `2,800 per sq ft and `4,000
per sq ft considering resale and developer quoted prices.
This differential pricing is estimated to be largely due to
the difference in quality of specifications being proposed
| credaitimesmag.org34
U r b a nDevelopment in CHANDIGARHfor various developments, anticipated target consumer
segment and location advantages and disadvantages of
the respective developments among others.
A relatively high-end group housing development
is being developed by Emaar along this corridor and
is commanding a capital price of `4,000 per sq ft.
Independent floor development is also being offered by
Emaar in their residential township development, Mohali
Hills.
The prevalent quoted prices for the floors are in the
range of `3,500 to `4,000 per sq ft. It may be noted that
the higher quoted prices for residential units located on
the ground floor, as it offers open space both at the front
and rear side of the unit.
Pearl Infrastructure is coming up with a group
housing development with mix 2- and 3-BHK apartments
and is commanding a sale price of `2,500 per sq ft while
Pearls City offers residential plots at a capital price
ranging between `26,000-`29,000 per sq yd.
TDI Group is coming up with a large-scale
residential development - TDI City which houses 2/3/4
BHK apartments and independent floors. The apartments
are available at a capital price of `2,650 per sq ft while
quoted capital price for independent floors ranges
between `2,850-`3,300 per sq ft. Unitech’s Uniworld
Gardens is another large-scale residential development
along this corridor exhibiting varied typology of product
mix such as plots, independent floors and apartments.
Residential development in Mohali-Kharar and surrounding regions
different Residential typologies in Mohali
Prominent developers & Projects
Prominent typology absorption trend Pricing trend
Private developments along Chandigarh-Kharar Road
Gilco Valley, Sunny Enclave, Gulmohar Complex, Palm Village
Villas, apartments These are earlier launched residential projects by local developers and are completely absorbed
Plots: `20,000-`35,000 per sq yd
Apartments: `3,000-`3,500 per sq ft
Private Developments in Mohali along Kharar-Landran Road between Kharar and Landran
Ansal’s Orchard County and Tulip & Carnation Towers, Ansal Golf Links, Parkwood Glade, RKM City, JTPL, Skyrock City, Skylark Eco Homes
Plots and Apartments
Absorption in these projects ranges between 80-100%
Plots: `15,000-`25,000 per sq yd
Apartments: `2,500-`3,600 per sq ft
Private Developments in Mohali along Landran-Banur Road between Landran and Banur
Pearl Infrastructure, IREO, Emaar, Unitech, TDI, JLPL
Plots, Independent Floor, 2- and 3-BHK apartments
Absorption in these projects ranges between 75-90%
Plots: `18,500-`29,000 per sq yd
Apartments: `2,800-`4,000 per sq ft
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
The major upcoming residential township projects are by the Chaddha Group and IREO Group
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U r b a nDevelopment in CHANDIGARH
October-December’14 | |
Mapping of Upcoming Residential developments in Mohali micro-market
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
The apartments in Uniworld Gardens are available at
a capital price of `3,200 per sq ft while the floors are
commanding a price ranging between `2,700-`3,300
per sq ft. The plots which have been launched earlier are
available at a current price ranging between `21,000-
`23,000 per sq yd.
IREO Group is coming up with mid-rise and low-
rise apartments along this corridor. These apartments
are available at a capital price of `4,200 per sq ft.
This project had been launched in 2011 and observes
absorption of approximately 80-85%.
Venetian Spaces, another development by a
Chandigarh-based developer, was launched in 2012
and offers independent floors and residential plots.
Residential plots in this development are available at a
capital price of `18,500 per sq yd while the independent
floors are available at a capital price ranging between
`2,600-`3,000 per sq ft. Some of the prominent
upcoming residential projects located in this part of
Mohali, however, enjoy the advantage of being positioned
in proximity and direct connectivity to the developed
sectors of Mohali viz Sectors 79, 80 and 81 among
others. The major among these are upcoming residential
township projects by Chaddha Group and IREO Group are
such projects which though are part of this micro market
of Mohali are located in proximity to the developed
sectors of Mohali and enjoy access through the existing
and proposed sector roads in these developed areas.
According to plans, the area is planned to have a golf course, spa village, turf club, lifestyle sports hub, indoor stadium, eco-park, health village and wi-fi facilities
mullanpur is likely to have a unique identity
with Punjab government drawing big plans for it.
‘Local Planning area’ (LPa)
document of mullanpur
master plan suggests that
4,000 hectare of buildable area
for development of new
townships and urban activity is
available
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U r b a nDevelopment in CHANDIGARH
Mullanpur
Another emerging location, witnessing high
level of real estate development in close
proximity to Chandigarh, is Mullanpur. Due
to the location being close to the developed
sectors of Chandigarh which is home to developers such
as Omaxe, Curo and DLF, among others. Located between
Chandigarh and Baddi on the upcoming Chandigarh-Baddi
Road, the town of Mullanpur is soon likely to have a unique
identity with Punjab government drawing big plans for it.
The ‘Local Planning Area’ (LPA) document of Mullanpur
master plan suggests that 4,000 hectare of buildable area
for development of new townships and urban activity
is available, which makes large-scale development
plausible. According to the plan, the area is planned to
have a golf course, spa village, turf club, lifestyle sports
hub, indoor stadium, eco-park, health village and hi-tech
technology park.
DLF has launched 1,250 acres Hyde Park in
Mullanpur which offers exclusive living space ranging
from the plot sizes of 350 and 500 sq yd, available
within the affordable price of `32,000-`35,000 per sq
yd. Nearly 600 plots were launched in Phase I and they
are 100% sold out. Launch of Phase II is underway. DLF
Mullanpur is expected to give a big boost to the growth
of the area. Apart from the scenic views such as Shivalik
Hills, DLF Mullanpur also entails amusement park and
botanical garden.
Omaxe has launched Omaxe New Chandigarh which
is an integrated township proposed over a sprawling area
of approximately 1,000 acres of which, at present, 500
acres has been acquired. The product mix entails plots,
group housing and independent floors. Plot area ranges
from 300-500 sq yd and were last sold off at a capital
price of `24,500-`26,000 per sq yd, approximately three-
four months back. These plots are available on resale at a
capital price of `25,000 per sq yd.
Omaxe has also launched two independent floor
developments by the name of Cassia Floors and Silver
Birch. Cassia Floors are available on plots area of 300 sq
yd and 400 sq yd with saleable area of 1,725 sq ft and
2,200 sq ft per floor respectively. Previously, Omaxe
launched plots and Cassia independent floors in the
proposed township. After receiving good absorption for
the plots on offer, Omaxe further launched Silver Birch
which offers independent floors in G+ 2 formats on plot
size of 200 sq yd and saleable area variation of 1,150 sq
ft and 1,500 sq ft per floor. Silver Birch was launched in
three phases of which phase I was sold at approximately
`2,600-`2,650 per sq ft; phase II was sold at `3,045 per
sq ft and phase III was sold at approximately `3,500 per
sq ft. Omaxe New Chandigarh has observed tremendous
absorption of nearing 95% in plots and independent
floors. Independent floors with larger area viz 1,920 sq
different Residential typologies in Mullanpur
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U r b a nDevelopment in CHANDIGARH
October-December’14 | |
Mapping of Upcoming Residential developments in Mullanpur micro-market
attributes of Residential development in MullanpurProminent Residential Projects
Prominent typology
absorption trend Pricing trend
Residential Developments in Mullanpur
DLF Hyde Park, Omaxe City, Altus Muirwoods, GMADA Eco City, Venetian Floors
Plots along with few independent floor developments
Plots in private developer projects: Annual sale of 350-450 units
GMADA Eco City: 1,000 plots in tree months’ time owing to substantial discount on sale price as compared to market price
Independent Floors: Absorption in Omaxe City has been 100% as compared to projects by local developers (40%)
Plots: `25,000-`35,000 per sq yd
Floors: `2,700-`3,500 per sq ft
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
ft are available at a lower price range between `2,300
and `2,750 per sq ft. Curo has launched its commercial
development in the same region. The total development
is spread across 8.5 acres with proposed mix of serviced
apartments, retail, commercial office and hotel. As of now,
only serviced apartments (233 units) of 3,100 sq ft and
4,100 sq ft built-up area are to be launched and available
at a pre-launch rate of `8,500-`10,000 per sq ft. The
project is in pre-launch stages and launch is due within
two months. Commercial and retail developments have
not been launched. Completion of the total development is
due by 2014.
Areas along Zirakpur-Patiala Road are highly preferred due to their proximity with Chandigarh and Panchkula
| credaitimesmag.org38
U r b a nDevelopment in CHANDIGARH
Zirakpur and surrounding areas
This area is the most preferred residential
area in the study region due to its excellent
location, accessibility and visibility from
Delhi-Chandigarh Highway (NH-22). The area
between Chandigarh and Zirakpur primarily forms part
of the Panchkula town which is mostly developed. In this
area, most of the developments are being witnessed along
two major roads ie Zirakpur-Patiala Road and Chandigarh/
ZirakpurAmbala Road. Owing to its excellent connectivity
with Panchkula and Chandigarh and being located on
main National Highway, the Zirakpur and Dera Bassi area
have become the major area of attraction for developers
to come up with their residential developments. Sahara,
Uppals, Eldeco, Silver City, Parsvnath, and ATS Green
are some of the reputed developers who have acquired
land in and around this area and are coming up with their
residential projects of varied typologies.
Zirakpur-Patiala highwayThe 100 ft wide Zirakpur-Patiala road connects Chandigarh
with Patiala. The major landmarks on this road are Banur
Source: http://www.flatsinzirakpur.com
and Rajpura town. Areas along Zirakpur-Patiala Road are
highly preferred due to their proximity with Chandigarh
and Panchkula, good connectivity with other parts of
Punjab and easy accessibility to Himachal Pradesh
through Zirakpur-Kalka Road.
Various developers have acquired large land parcels
between Zirakpur and Patiala. The size of colonies around
this road ranges from four acres to 130 acres. Sahara
Homes, a national-level developer, is planning to develop
a high-end residential township on approximately 130
acres of land along this road.
Besides, there are local developers like Prem
Bansal Real Estate Co, who has come up with 55 acres of
residential township development along this road. All these
Land prices along this road
have grown manifold in the past few years.
Prominent projects in the region
are Swastik enclave, Sahara
City, Green view, jaipuria
Sunrise, Skynet apartments,
Palm Court and Defence enclave
among others. the prices of plots within developed colonies in the region
vary between `30,000-`50,000
per sq yd
39
U r b a nDevelopment in CHANDIGARH
October-December’14 | |
townships have mixed typology of plots, apartments and
commercial spaces. Good demand and absorption of all
these colonies has had a positive impact on the land price
in this area. Hence, various new players are venturing
into the region for development of residential colonies,
which is ultimately affecting the prices for undeveloped /
agricultural land in the area.
Land prices along this road have grown manifold
in the past few years. Prominent projects in the region
are Swastik Enclave, Sahara City, Green View, Jaipuria
Sunrise, Skynet apartments, Palm Court and Defence
Enclave among others. The prices of plots within
developed colonies (as stated above) in the region vary
between `30,000-`50,000 per sq yd.
However, plots in new projects such as Royal
Estate and Chinar World are available within a price
range of `12,000-`16,000 per sq yd. Majority of these
developments were launched in 2003 and 2004 at
launch price of `1,200-`2,000 per sq yd. Group Housing
developments launched in 2003-2004 are available
within a price range of `2,700-`3,400 per sq ft in resale,
depending upon the project and its distance from main
city. New apartment projects are available between INR
2,800-3,600 per sq. ft. These group housing projects
observe 95%-100% absorption however only few of them
have been occupied till date.
Zirakpur-ambala highwayZirakpur-Ambala Highway links Chandigarh with Delhi
and passes through Dera Bassi and Ambala. Various
typologies of real estate developments are coming
up along this road. With the widening of this road to a
four-lane express highway, the area has become the
focus of attraction for various developers of national and
international repute. Various local developers too have
started procuring agricultural land from the farmers and
developing residential and commercial projects here. A
large residential colony, Silver City, is one example of good
demand for quality residential space in the region as the
colony has witnessed the absorption of all typologies of
residential units in a very short span of time.
Looking at the demand for residential units in
this area, Shipra Estate Limited has acquired a large
land parcel for the development of mega residential
township. With the scarcity of large land parcels near
Zirakpur, Dera Bassi has become the focus of attention for
potential development. Many developers of national and
international repute have acquired large tracts of land in
Dera Bassi.
Major among these are Parsvnath and ATS
Infrastructures. ATS received an overwhelming response
at the launch of their project with the name ATS Greens
at a price of `15,000 per sq yd. The group has also
With the scarcity of large land parcels near Zirakpur, Dera Bassi has become the focus of attention for potential development
Prominent Upcoming Residential developments in Zirakpur-dera Bassi area
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
| credaitimesmag.org40
U r b a nDevelopment in CHANDIGARH
launched its multi-storeyed group housing project with the name of ATS
Meadows at a capital price of `2,000 per sq ft.
However, the current sale price of plots at ATS development
ranges around `17,000-`22,000 per sq yd and within a price band of
`2,600-`3,900 per sq ft for apartments. Villas in ATS Meadows are
currently selling within a price range of `4,750-`5,000 per sq ft for villa
sizes of 325, 350 and 500 sq yd.
Apart from this, developments such as Gulmohar Enclave, Silver
City Themes, Nirmal Chhaya, Savitry Greens, Sushma Chandigarh
Grande and Motia’s Royal Citi are some of the residential projects
being developed by the local builders along the Ambala highway.
Capital prices for group housing developments range between
`2,600-`3,900 per sq ft while capital prices for residential plots range
between `30,000-`35,000 per sq yd depending upon the location
and accessibility.
Some of the high-end residential projects viz Sushma Chandigarh
Grande commands a current capital price of `4,000 per sq ft while Ojas
Grand, located along VIP Road that offers luxury apartments quote a
capital price ranging between `5,500-`7,500 per sq ft.
different Residential typologies in Zirakpur
table: Residential development in Zirakpur-dera Bassi areasProminent developers and Projects
Prominent typology
absorption trend Pricing trend
Residential Developments along Zirakpur-Patiala Highway and VIP Road
Green View, Jaipuria Sunrise, Skynet apartments, Palm Court and Defence Enclave, Maya Gardens, Savitry Greens
Plots and 2- and 3-BHK apartments
Plots in these projects observe high absorption
Apartments witness 95-100% absorption and now available on resale
Plots: `30,000-`35,000 per sq yd
Apartments: `2,800-`3,600 per sq ft
Ojas Grand 4-BHK apartment and 5-BHK duplex penthouses
80% absorption `5,500-`7,500 per sq ft
Residential Developments along Gazipur Road
Aero Homes, Girisa Towers 3- and 4-BHK apartments and penthouses
Ranges between 40-75% Apartments: `2,300-`2,800 per sq ft
Residential Developments along Zirakpur-Ambala Road
Gulmohar Enclave, Silver City Themes, Nirmal Chhaya, Savitry Greens, Sushma Chandigarh Grande, Motia’s Royal Citi, Savitry Greens 2, Maya Garden City
3- and 4-BHK apartments and plots
Most of the earlier launched developments witness 70-80% absorption while the recently launched projects enjoy absorption of approx 25-30%
Plots: `30,000-`35,000 per sq yd
Apartments: `2,600-`3,900 per sq ft
Residential Developments in Dera Bassi
ATS Golf Meadows, Leafstone, SBP Housing Park
2-, 3- and 5-BHK apartments, plots and villas
20-25% in apartments
Apartments in ATS Golf Meadows witness 80-90% absorption
Villa: `4,750-`5,000 per sq ft
Plots: `17,000-`22,000 per sq yd
Apartments: `2,600-`3,400 per sq ft
Prominent Upcoming Residential developments in Panchkula area
The city, like Chandigarh, restricts private activities in main sectors
41
U r b a nDevelopment in CHANDIGARH
October-December’14 | |
Panchkula
Real estate development in Panchkula area
of Tri-city region has been divided mainly
in the developed sectors along Panchkula-
Kalka Highway and in Peer Machhala area.
In the developed sectors of Panchkula, the residential
developments are mostly observed in the form of plotted
developments or group housing developments developed
for government employees. The size of plots in these
sectors ranges between 75 sq yd and 350 sq yd while in
some of the sectors plots of up to 1,000 sq yd (2 kanal)
can also be observed. The prices of these residential
plots in the prime sectors of Panchkula range between
`75,000-`160,000 per sq yd.
The city’s texture is on the lines of Chandigarh,
restricting private activity in main sectors. However,
developers such as Suncity, Parsvnath and Bhoomi
Infrastructure have come up with their respective
residential developments along Panchkula-Kalka Highway
in 2010 & 2011 and these are available at a capital price
ranging between `4,150-`9,000 per sq ft.
Some other developments have also come up along
the Panchkula-Kalka Highway in the vicinity of cantonment
towards extension of Panchkula in north. The area is
segregated from main city by an industrial belt and the
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
different Residential typologies in Panchkula
| credaitimesmag.org42
U r b a nDevelopment in CHANDIGARHcantonment. However, the national-level developers such as DLF
and IREO are in the process of developing townships across 190-200
acres. The typology of development observed here is in the form
of residential plots, apartments and independent floors with prices
of plots ranging between `35,000-`45,000 per sq yd and those of
apartments ranging between `3,200-`5,500 per sq ft. New group
housing developments are also coming up along the Haryana Punjab
border, behind sector 21 of Panchkula at Peer Machhala which falls
in Punjab.
The residential typology comprises mainly of apartment
developments spreading over 5-20 acres, primarily targetting the
MIG segment of the population. Major projects are Chinar Homes,
Bollywood Heights and projects launched by Royal Empire Group.
The capital price of these apartments range between `2,800-`4,000
per sq ft and most of these projects have been launched in the year
2010 & 2011. The region houses all group housing projects in the
nominal price band of `3,000-`4,000 per sq ft. Only limited projects
are priced below `3,000 per sq ft.
Residential development in Panchkula areasectors typology Pricing trend
Developed Residential Sectors of Panchkula
Sectors 1-5, 6-8, 10,11,12, 12A,15,16,24, 25,26
Plots ranging in size from 75-350 sq yd up to 2 kanal (1,000 sq yd
`75,000-`1,60,000 per sq yd
Sector 24, 25, 26 Group Housing `3,500-`4,300 per sq ft
Sector 27, 28 Haryana Housing Board Plots - smaller in plot size
`50,000-`60,000 per sq yd
Sector 20, 21 Group Housing Societies `5,000-`7,000 per sq ft (based on construction)
Prominent developers & Projects
Prominent typology absorption trend Pricing trend
Private Developments along Panchkula-Kalka Highway
Suncity Parikrama, Ess Vee, Parsvnath Royale, Bhoomi Greens
2-,3- and 4-BHK apartments
Ranges between 70-90% with annual sale of 100-150 units; Suncity Parikrama witnessed annual sale of 450 units, Ess Vee indicates 20% absorption with annual sale of 30 units
Sector 20: `4,150-`9,000 per sq ft
Sector 30: `4,150 per sq ft
DLF Valley, Ireo Five River and Amravati Enclave
3- and 4-BHK apartments and plots
Apartments: 230-900 units per annum
Plots: `35,000-`45,000 per sq yd
Apartments/ floors: `3,200-`5,500 per sq ft
Private Developments in Peer Machhala
Chinar Homes, Bollywood Heights and projects by Royal Empire Group
2-, 3- and 4-BHK apartments
Ranges between 30-60% with an annual sale of 40-230 units
Apartments: `2,800-`4,000 per sq ft
43
U r b a nDevelopment in CHANDIGARH
October-December’14 | |
development type
description
Booth Single storey shop
Bay Shop Shop with basement, basement used for storage purposes.
Double Storey Shop (DSS)
Shop on two floors with basement, ground and upper floor used as shop and basement for storage purposes.
Shop cum Office (SCO)
Building generally having ground plus 3 stories along with basement. It has shops on ground floor and office spaces on above floors & basement is used for storage purposes.
Shop cum Flat (SCF)
Building generally having basement plus 4 stories with shops on ground floor, residence on top floor and offices in first & second floors, basement used for storage purposes.
Commercial towers
These are the buildings of international quality housing various MNCs. This category was recently introduced in the city with launching of Rajiv Gandhi IT Park at Mani Majra.
type of commercial development
Commercial Real Estate in Tri-city
The development of commercial spaces (office spaces)
is formalised in the Chandigarh region where these
spaces find place majorly in the form of booths, bay
shops, double-storey shops (DS Shops), shops-
cum-offices (SCOs) and shops-cum-flats (SCFs) which were
intended to provide mix use in a planned way. For the purpose
of assessments in this section, commercial spaces are meant to
imply SCOs and SCFs, a combination of retail and commercial
spaces, unless otherwise indicated.
SCOs are classified into one bay, two bays and three
bays, depending upon number of bays in single SCO. One bay
of an SCO admeasures approximately 16 ft x 66 ft, although
the dimensions vary in different sectors of study region. As the
study region comprise of state capital of two states viz Punjab
and Haryana, government offices mainly dominate commercial
property markets. Offices of financial organisations like banks
and insurance companies also exist in large numbers but most
of these offices are mixed with retail business across major
markets of the Tri-city. IT/ ITES companies currently occupy
limited space in and around the city forming part of RGCTP
(Kishangarh) and Quark City (Mohali). Viewing commercial office
landscape of the region, it is observed that Chandigarh and
Mohali are two prime office markets in the incumbent. Apart
from these two, Shipra World Ltd. is coming up with a large
commercial project at Zirakpur. Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
| credaitimesmag.org44
U r b a nDevelopment in CHANDIGARH
Commercial inventory snapshot of major economic zones of the region
Active Zones: chandigarh and
Mohali
Nascent \Market: Zirakpur
total existing commercial office area (it and non it): approx
million sq.ft. million sq.ft.
total upcoming commercial office area (it and non it): approx
chandigaRh
existing stock: approx Upcoming grade a supply: approx Proposed developments: approx
million sq.ft. million sq.ft. million sq.ft.
Proposed Developments: Large number of units in industrial area has already been converted to commercial use. Approximately 5.5-6.5 million sq ft IT supply can be released in RGCTP with interest of other IT companies coming up in Chandigarh. A lot of industrial units which have already attained commercial approvals are yet to be released as commercial spaces depending upon demand from office segment in short to medium term.
Chandigarh has well developed commercial market. Primarily,
it houses all the government offices of both Punjab and Haryana.
Most of the government offices have their own buildings. Apart from
government offices, the city has branches of all banks, computer
training institutes, and fashion institutes, among others. The existing
main commercial sectors are 8, 9 & 34. Other sectors, which have
commercial spaces, are sector 22, 35 & Mani Majra. Here also, all the
developments are in the form of SCOs. The built up area of a SCO
in sector 8 & 9 averages to 9,200 sq. ft. whereas in sector 34, the
average area is 15,400 sq. ft.
commercial inventory and stockOf the available approximately total stock of 5.4 million sq ft, it is
estimated that approximately 3 million sq ft is under commercial
office use by various corporates. The corporates in Chandigarh and
surroundings observe space limitation owing to limited size of SCOs.
Moreover, as per the regulations by the Authority, it is difficult to guild
two or more units to get a larger space.
On the back of estimated demand by corporates, many land
lords in Industrial Area have converted their industrial parcels to
commercial use and are coming up with prime Grade A non-IT
45
U r b a nDevelopment in CHANDIGARH
October-December’14 | |
commercial sectors characteristics
Sector 7, 8 and 9
Grade of Development: Grade B SCO development
Commercial Tenant Typology: Private sector mid-scale corporates, banks, multi-specialty clinics and insurance companies,
Eminent corporates: IDBI bank, Corporation Bank, Indusind Bank, Allahabad Bank, Union Bank of India, State Bank of Patiala, Federal Bank, Punjab National Bank, Central Bank, Canara Bank, State Bank of India, HSBC, ICICI, UCO Bank, Bank of Punjab, Indian Bank, City Bank, Standard Chartered Bank, Lord Krishna Bank, Vijaya Bank are all present here.
In case of clinics, there are MAX, Shri Guru Khalsa Hospital, Apollo Clinic, Mediwell Heart Institute, Dr Batra’s Lab, Prime Diagnostic Lab, Grewal Eye Institute, Ranbaxy Insurance companies occupying space there are ING Vasya, National Insurance, Birla Sun Life, Max New York Life, Bajaj Allianz & United India Insurance.
Sector 34
Grade of Development: Grade B SCO development
Commercial Tenant Typology: Banks, government offices, multi nationals, educational and teaching/ coaching institutes, travel agencies, insurance companies
Eminent corporates: Siemens, IT department of Punjab, Escorts, STG, Swaraj Tractors, Punjab Roads & Bridges Development Board, Voltas Ltd, Sify, Times Education Institute, NIS Academy, Virdi Eye Hospital, NDDB, Verka, Sharp, Tata, Samsung, Omni Hospital, Zed Carrier Academy, BIS, Punjab Health Systems, Chambal Fertilizers, Jet King, Punjab State Human Rights Commission, Regional Passport Office, HUDCO, Income Tax Office, Sahara Samay, Modi, State Electricity Commission and Mukat Heart Hospital, among others.
Sector 17
RIMARILY RETAILGrade of Development: Grade B SCO development
Commercial Tenant Typology: Banks, Real estate companies, Insurance companies, embassy consulate office, Public Sector Units (PSU’s) / government offices, district courts and regional office for Reserve Bank of India.
Eminent corporates: Godrej, Jones Lang LaSalle, Shipra World Ltd, EMAAR MGF, HDFC, ICICI, Canadian Embassy, Income Tax office, Punjab financial corporation, Punjab state warehousing corporation, Punjab Mandi board, Punjab Poultry Dev. Corporation.
Sector 22 and 35
PRIMARILY RETAILGrade of Development: Grade B SCO development
Tenant Typology: Banks, local computer training institutes, cyber cafes and telecom companies, among others.
Micro Market wise commercial classification in chandigarh
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
commercial offices and retail malls. Industrial areas Phase I and II are
strategically located with respect to the Airport and other commercial
corridors / districts of the city. Given the large scale transformation of
industrial compounds into non IT commercial and retail developments
after the notification of the land conversion policy by Chandigarh
Administration in 2005, the said Industrial Area is emerging as a key
business district. At present, a large part of the industrial area still
houses large and medium scale industries like Bhushan Steel and
Power, Avery Cycles, Unicon, etc. Besides standalone buildings for
banks and car showrooms for Maruti, Toyota, BMW, Audi, Mercedes
etc, the said industrial area has the largest shopping mall, Elante
(approx 1.2 million sq ftby L&T along with another retail development
Centra (0.16 million sq ft). There are two operational projects of
approximately 1 lakh sq ft, each by local developers in the micro
market. Industrial area Phase II comprises of small and medium
scale manufacturing industries involved in manufacturing of furniture,
utensils, alloys etc. It also has few car showrooms for companies like
Maruti, Tata Motors, Mercedes Benz and Ford. The development
profile of this area is relatively less attractive and of a lower standard
as compared to Industrial Area Phase 1. None of the Grade A
developments is yet proposed in Industrial Area Phase II.
No leasing activity has taken place in majority of the
large scale eminent developments. This is also attributed to
delay in project completion. In the incumbent market situation, leasing
is a function of project completion as majority corporates look out for
operational buildings, which ready for fit-out. Closest to completion is
Godrej Eternia project which is likely to be delivered by end of 2014.
Capital prices in these developments range from `10,000-`13,500 per
Apart from non-IT developments, there is a large IT park in Chandigarh
| credaitimesmag.org46
U r b a nDevelopment in CHANDIGARH
sq ft for office area on upper floors. Ground floor in majority
developments is spared for retail, which is being sold within
a price band of `15,500-`23,500 per sq ft.
Apart from non-IT developments, there is
a large IT park in Chandigarh viz Rajiv Gandhi
Chandigarh Technology Park (RGCTP). Chandigarh
administration has proposed a world-class infrastructure
facility for the major IT/ ITES companies in the form of
RGCTP at Kishangarh, situated at north eastern side of
the capital city. Chandigarh Technology Park (CTP) is an
extremely important project for the Union Territory of
Chandigarh as it provides the infrastructure necessary for
the setting up of facilities/ campuses by leading technology
companies and other IT/ITES/BPO companies in Chandigarh
for the first time. By setting up RGCTP, Chandigarh
Administration has taken a step towards providing world-
class facilities in Chandigarh so that not only employment at
the highest level but also the economy of Chandigarh and
the region would get a boost. Phase I of RGCTP is proposed
to be developed over an area of 111 acres out of which
approximately 60 acres has been set aside for technology
companies and the remaining area for related services and
green belts. Along with Infosys Technologies, DLF Limited
(Ready built space developer), Airtel, Wipro have launched
existing commercial (retail cum office) stock in chandigarh
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
non it commercial office grade a stock in chandigarh (multi-tenanted)
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
DLF IT Park within Chandigarh Technology Park (RGCTP).
DLF project consists of six office blocks, each equipped with
an independent lift lobby. It has an office space of approx.
800,000 sq. ft. targeted at IT/ITES companies.
The already operational IT office inventory
in Chandigarh is approximately 1.8 million sq ft
of which 525,000 sq ft is under Infosys and 800,000 sq
ft area is under DLF development. Scale of upcoming IT
developments is likely to be to the tune of another 5.5-6.5
million sq ft. However, nothing has yet been launched or
planned by any corporate except Wipro which is developing
its first phase out of the 30 acres development.
eminent commercial cum Retail developments in chandigarh
47
U r b a nDevelopment in CHANDIGARH
October-December’14 | |
existing stock: approx. Upcoming grade a supply: approx. Proposed developments: approx.
million sq.ft. million sq.ft. million sq.ft.
Proposed Developments: Large number of units in the industrial area has already been converted to IT/ ITeS-based mega projects; Approximately 3.5 million sq ft IT supply is likely to be released in Quark City, Bestech Business Park and Punjab InfoTech project in three-five years’ time span.
Mohali
commercial sectors characteristics
Sector 59,60, 61 & 63
Grade of Development: Grade B SCF development
Commercial Tenant Typology: Mid-scale corporates, banks, insurance companies, travel agencies and emigration centres, coaching institutes for computers, linguistics & competitions, immigration centres
Eminent corporates: Bank of India, Bank of Baroda, United India Insurance, Allahabad Bank, Chawla Nursing Home, Tribune, Andhra Bank, Bank of Punjab, state Bank of Patiala, State Bank of India, Canara Bank, Sachdeva New PT College, NIFD, UTI Bank, ICICI, Punjab National Bank, HDFC, Centurion Bank, Karnataka Bank
Sector 66 - 75 (Phase VIII AND IX)
Grade of Development: Grade A commercial development
Commercial Tenant Typology: Primarily IT/ ITeS
Eminent developments:
Quark city SEZ: offers a total space-solution over approx. 6,055,000 sq. ft. Planned over 46.34 acres, Quark City, is expected to generate 25,000 direct and over 100,000 indirect jobs. This massive employment generation is expected to generate considerable demand for residential, retail, hospitality, and leisure and entertainment real estate sectors. It has been accorded Special Economic Zone (SEZ) status by the Government of India. Considerable benefits accorded to occupants of SEZs are likely to fuel demand for space within Quark City by IT/ITES companies.
Punjab Infotech Project, Government initiative in Non IT commercial office space, offers a total area of approx. 1.35 million sq. ft. Planned over 8.56 acres, this project houses five sites of which one has been planned for hotel use. Punjab Infotech is in process of selling commercial plots varying from 0.85 acres to 2.55 acres to various regional developers through bid route; however no commercial asset has been released till date.
Bestech is also coming up with 13 acres project at sector 66 in Mohali, which entails a total commercial, retail and IT office area of approx. 1.0 million sq. ft. The developer has already launched 650,000 sq. ft. of area as Bestech Business Park.
Micro Marketwise commercial classification in Mohali
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
For a long period of time, only demand for commercial spaces
in Mohali had been by banks, technical institutes and local occupiers.
Commercial development is primarily in the form of SCF and the main
sectors are 59, 60, 61 & 63. The average built up area of SCF is 4,125 sq
ft. However, Mohali is now becoming a choice for various companies to
set up their infrastructure here.
| credaitimesmag.org48
U r b a nDevelopment in CHANDIGARH
The Punjab government has already made its
intentions clear to develop Mohali as an Excellence Centre
for IT and enabled services. The property rates would
increase, once some MNCs decide to invest in the micro
market. The impact of Bharti Telecom, HFCL, Spice,
Quark, and PCA stadium is already visible. The focus has
now swung to develop Phase VIII A and VIII B Industrial
hub in Mohali for IT centric industries due to the strategic
position, infrastructure support and escalating attention
of internationally renowned IT companies for establishing
their IT related undertakings in the locale.
Leading IT players like Wipro, TCS, Infosys,
and Convergys have already approached
Government of Punjab/ PSIEC for allocation
of land in these phases for putting up their
commercial ventures. Punjab government is similarly
ardent to progressively attract IT companies for large-
scale investments in Mohali and enlarge their activities.
In addition, spurt of organised commercial and IT/ ITeS
existing commercial (retail cum office) stock in Mohali
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
developments may generate demand for commercial
development in business centre format.
commercial inventory and stock Of the available approx. total stock of 1.3 million sq ft, it
is estimated that approximately 50% (0.65 million sq ft)
is under commercial office use by mid-scale corporates
and banks. Owing to availability of larger land parcels and
affordable price points, majority developers are coming up
with retail malls and commercial offices in Mohali. All the
projects are currently under construction and are likely to
be completed by 2014-2015. The city has observed good
sales however leasing activity shall pick up momentum
once these projects are in advanced stage of construction
(ready for fit-out).In terms of the upcoming non IT office
supply, the eminent projects include C&C Corporate Park,
Sunny Business Centre and TDI Centre. Supply estimates
in the micro market are detailed below:
Source: Real Estate Market Research & Analysis; Jones Lang LaSalle, 2014
Apart from non-IT developments, there are two major IT-based developments proposed in Mohali primarily in industrial area.
These include Quark City and Punjab InfoTech. Total IT inventory planned in Mohali is approximately 3.5 million sq ft.
non it commercial office grade a stock in Mohali (multi-tenanted)
it/ ites office grade a stock in Mohali (multi-tenanted)
The Punjab government has already made its intentions clear to develop Mohali as an Excellence Centre for IT and enabled services
eminent commercial cum Retail developments in Mohali
Mohali is all set to emerge as the next axis for commercial non-IT space
eminent commercial cum Retail developments in ZirakpurZiRaKPUR
In the incumbent, Mohali is registering a boom in the
real estate market with supply keeping pace with
demand; the area is all set to emerge as the next axis
for commercial non-IT space. Location of Zirakpur
makes it favourable among occupiers and investors.
Zirakpur act as an entry point to the Tri-cities. Number
of developers like Bawa Estates, Sushma Buildtech and
Parasmani Buildtech among others has their presence
in market with many operational and under construction
projects. With improving infrastructures, fast connectivity,
and the forthcoming world-class realty projects, this
developing real estate destination is ready to cater to the
needs of every corporates looking for a property close to
Chandigarh and at affordable prices.
Initially, Zirakpur market was dominated by SCO
developments, largely developed by local developers.
The major developments are on main highway (NH
22), VIP Road and Rajpura road (NH 64) among others.
Typical size of SCOs varies from 6,000 sq ft-12,000 sq ft.
These developments are commanding a capital price of
`4,000-`6,000 per sq ft depending upon the floor, location,
specifications and neighbourhood developments. The
rentals for these SCFs are ranging from `20-`40 per sq ft
per month. The capital price for the Grade A commercial
space ranges from `6,000 per sq ft-`8,000 per sq ft. Most of
the grade A developments has retail space on lower floors
whereas office are located on upper floors.
49
U r b a nDevelopment in CHANDIGARH
October-December’14 | |
Quark City entails approximately 46.34 acres of
which approximatelty 33.97 acres fall under approved
SEZ and remaining 12.37 acres is a part of non-SEZ area.
Approximately10.47 acres from the main development
is either developed or under construction. Therefore,
vacant area as on date is approximately 35.87 acres.
Total commercial and IT inventory in Quark City is
approximately 3.2 million sq ft of which 90% is IT-based
office supply (2.85 million sq ft ) and mere 10% is proposed
as commercial offices (0.36 million sq ft).
Bestech offers commercial and IT inventory, of which
approx. 0.76 million sq ft is earmarked for IT based offices
(70%). The developer is selling the project at `6,000-7,000
per sq ft.
We bring you five of the best designs from the architecture world
PARKROYAL on Pickering - The podium is a remarkable piece of architectural theatre: it presents a monumental embellishment to the Singapore streetscape
Alcacer do Sal, Portugal - The
project is based on an attentive reading of the
life of a very specific kind of community, a
sort of a micro-society with its
own rules
House of the Arts - The slopes of the roof look for identification with the city rooftops and the use of the strong colour is intended to create
a building which is immediately recognisable by the public
1
2
3
4
simply out of the worldThe Blue Planet - Denmark’s Aquarium is Northern Europe’s largest aquarium and
offers a unique experience for children and adults
design
| credaitimesmag.org50
simply out of the world
Red Pepper House - A main goal for the design was to minimally disturb the forest, which provided very few clearings. The existing layout of trees directly resulted in a spatial arrangement for the house, with the building footprint and roof form only occupying voids in the vegetated landscape
5
51October-December’14 | |
The Blue Planet is Europe’s largest and most
significant aquarium with an outstanding
location on the shores of Øresund, only eight
kilometres from the Copenhagen City Hall
Square. Moreover, the aquarium in Taarnby Municipality
is ideally located with motorways, Copenhagen Airport,
the Øresund Bridge, Metro and international trains
within few hundred meters. The Blue Planet will be one
of Denmark’s five most prominent tourist attractions. At
the tourism conference “A New Way to Grow” 2012, the
Blue Planet was chosen as Denmark’s best lighthouse
project within experience economy, because of its
potential for growth, influence on regional development,
innovation, realisation as well as its uniqueness and
‘reason to go’. Denmark’s Aquarium was founded by
civil engineer and contractor Knud Højgaard. It opened
for the public in 1939 just four months before the break
By 3xn (CoPenhagen, denMaRK)
1The Blue PlaneT
Lighthouse project
at the tourism conference “a new way to grow” 2012, the Blue Planet was
chosen as denmark’s best lighthouse project within
experience economy, because of its
potential for growth, influence on regional
development, innovation,
realisation and uniqueness
design
| credaitimesmag.org52
Architects 3xn
Location Kastrup, Copenhagen, denmark
Area 10,000 sqm
Year 2013
out of World War II and seven months before the
occupation of Denmark. The consequence was closed
borders and considerable problems in getting hold of
exotic animals to the aquarium. However, through an
impressive effort with Danish and home reared fish
the aquarium was kept open and active. After the war,
the aquarium was in a bad shape, and Knud Højgaard
initiated extensive renovations. During the next decades
the building went through several modernisations and
enlargements.
The aquarium is equipped with double glazing units as well as sea water cooling, which will reduce the energy consumption in the Blue Planet
Pho
to c
ourt
esy:
© A
dam
Mõr
k
53October-December’14 | |
2
Pho
to c
ourt
esy:
© F
G+S
G –
Fer
nand
o G
uerr
a, S
ergi
o G
uerr
a
By aIRes MaTeus (alCaCeR do sal, PoRTugal)
alCáCeR do sal ResIdenCes
design
| credaitimesmag.org54
The project is based on a attentive reading of
the life of a very specific kind of community,
a sort of a micro-society with its own rules.
It is a program, somewhere in between a
hotel and a hospital, that seeks to comprehend and
reinterpret the combination social/private, answering
to the needs of a social life, and at the same time of
solitude. Independents unities aggregate into a unique
body, whose design is expressive and clear. The
reduct mobility of those who will live in the building
suggests that any displacement should be an emotive
an emotive and variable experience
Independents unities aggregate
into a unique body, whose design is expressive and
clear. The reduct mobility of those
who will live in the building suggests that
any displacement should be
an emotive and variable
experience. The distance between the independent
units is measured and drawn to turn
the idea of path into life, and its time into form
Architects aires Mateus
Location alcacer do sal, Portugal
Area 1,560 sqm
Year 2010
and variable experience. The distance between the
independent units is measured and drawn to turn the
idea of path into life, and its time into form. The building,
designed path, is a wall that naturally rises from the
topography: it limits and defines the open space,
organising the entire plot.
55October-December’14 | |
3
with those of the adjoining park as one continuous
sweep of urban parkland. Most of Singapore’s recent
architecture – especially in and around the city centre –
is nothing more than generic and can be seen anywhere
in the world, regardless of climate and culture. An
equilibrium point of architectural anonymity has been
derived from a number of factors – corporate and
bureaucratic risk-avoidance, a desire to promote a
global (homogenous) image rather than local, and the
ubiquity of semi-famous international architects – but a
uniquely progressive tropical city has been sold short.
WOHA paid no attention to the placeless blandness of
the modern Singapore skyline, and finally the city has
a uniquely expressive urban landmark that reinterprets
and reinvigorates its location. The PARKROYAL on
Pickering was a purely commercial development,
with well-defined budgetary and programmatic
constraints. But as with many of WOHA’s projects
built throughout Asia over the last decade, the hotel
performs unambiguously as a public building. Perched
above the open-to-all-the-elements pool deck of a
five-storey podium, a twelve-storey tower forms an
E plan, so that all guest rooms look north to the park
and/or into the sky gardens, whilst the services and
the external connecting corridors were placed on the
southern elevation. As the hotel is ‘self-shaded’ – by the
projecting sky gardens and the adjacency of the three
room-blocks – and shielded from early morning and
afternoon sun by adjoining buildings, the rooms could
be fully glazed (by low-emissivity glass) without external
screening devices.
singapore-based WOHA Architects have
long been advocates of the ultimate ‘green
city’ – one that would be comprised of more
vegetation than if it were left as wilderness –
and the PARKROYAL on Pickering was designed as a
hotel-as-garden that actually doubled the green-growing
potential of its site. Massive curvaceous sky-gardens,
draped with tropical plants and supporting swathes
of frangipani and palm trees, are cantilevered at
every fourth level between the blocks of guest rooms.
Greenery flourishes throughout the entire complex, and
the trees and gardens of the hotel appears to merge
© P
atric
k B
ingh
am-H
all
By woha (sIngaPoRe)
PaRKRoyal on PICKeRIng
design
Progressive tropical city
Most of singapore’s recent
architecture – especially in and around the city
centre – is nothing more than generic
and can be seen anywhere in the
world, regardless of climate and
culture. an equilibrium point of architectural anonymity has
been derived from a number of factors
– corporate and bureaucratic risk-
avoidance, a desire to promote a global
(homogenous) image rather
than local, and the ubiquity of semi-famous international
architects – but a uniquely progressive
tropical city has been sold short
Architects woha
Location singapore, singapore
Area 29,811 sqm
Year 2013
design
| credaitimesmag.org58
an iconic landmark
The dynamism achieved through
the continuity between façades
and roof is accented by a strong red
colour, emphasising its design and
highlighting the building through the surrounding landscaped area vegetation. More than a building,
the Casa das artes pretends to be an iconic landmark, celebrating the
place where people meet, where culture
and art happens
design
| credaitimesmag.org60
4
Architects future architecture Thinking
Location Miranda do Corvo, Portugal
Area 2,360 sqm
Year 2013
The Casa das Artes (House of the Arts) in
Miranda do Corvo expresses the meeting
between two identities, rural and urban, in a
landscape marked by the Lousã Mountains.
The building features a contemporary and volumetrically
expressive language. The sloping roofs establish a
dialogue with the geometry of the mountain landscape,
in an analogy to the village rooftops. The dynamism
achieved through the continuity between façades and
roof is accented by a strong red colour, emphasizing
its design and highlighting the building through the
surrounding landscaped area vegetation. More than a
building, the Casa das Artes pretends to be an iconic
landmark, celebrating the place where people meet,
where culture and art happens, a space capable of
promoting and stimulating creative activity, increasing
the population quality of life. The building consists of
three volumes reflecting different sorts of use: the first
one containing the stage areas, the second comprising
the audience and foyer, and the third with a cafeteria
and a future museum area, which constitute a visually
independent volume.
Pho
togr
aphs
: Joã
o M
orga
do
By fuTuRe aRChITeCTuRe ThInKIng (MIRanda do CoRVo, PoRTugal)
house of The aRTs
61October-December’14 | |
5
a harmonious dialogue
The forest, consisting mainly
of mangroves, provides very few
open spaces in between and hosts
an abundance of chirping birds. These natural
features enable the development of a building, whose design creates a harmonious
dialogue with its surroundings. without being
completely isolated from the local population, its
location provides a space where privacy
is safeguarded by the nature that
surrounds it.
Pho
togr
aphs
: Alb
erto
Her
as, S
tevi
e M
ann
By uRKo sanCheZ aRChITeCTs (laMu, Kenya)
Red PePPeR house
design
| credaitimesmag.org62
Architects urko sanchez architects
Location lamu, Kenya
Area 1500.0 sqm
Year 2009
The client, Fernando Torres, wanted a private
residence that shared a connection with Lamu
but was secluded from the main town itself. He
had a passion for architecture and at the same
time liked to be in contact with nature. Combining these
two attributes, a chance was presented to create a form
of organic architecture that had a balance of traditional
craft and modern requirements. The client had great
respect for the environment and wished that the design
process preserved the forest as much as possible.
Likewise, the construction process and eventually the
running of the building were to share the same attribute.
Located on the island of Lamu towards the north
end of the town, the plot is immersed in vegetation and
bordered by the beach on its southeast slopes. The
forest, consisting mainly of mangroves, provides very
few open spaces in between and hosts an abundance
of chirping birds. These natural features enable the
development of a building, whose design creates a
harmonious dialogue with its surroundings. Without
being completely isolated from the local population, its
location provides a space where privacy is safeguarded
by the nature that surrounds it. The architecture
incorporates different levels of closure that create a
transition between indoors and outdoors.
Arriving to the house from Lamu we find small coral
stone masonry houses on the sandy beach creating
a scattered urban pattern. This layout and material is
used for the setting out of the bedrooms, the only fully
enclosed spaces in the house, presenting a sense of
security and intimacy.
63October-December’14 | |
Vast stretches of townships, sky-hugging
towers, plush surroundings, CCTVs,
central or automated air conditioning,
personal swimming pools, squash courts,
vertical gardens – homes today offer a plethora
of mind-boggling lifestyle amenities. It is a drastic
sea change from the clubhouses and gyms builders
offered just a decade ago. When they charge top
dollars for their condos, builders and developers
today need to be more updated with what is being
offered to home-buyers globally and must adhere
to the best practices and technology in the industry.
The most important aspect of this exclusive offering
is premium quality of construction.
More and more builders today understand that
typical defects like leakages or cracks in terraces
and walls, musty smelly parking areas, bathrooms
with seepage and dripping basement areas are
detrimental not only to the structure they have built
but their reputation in the industry.
One of the biggest factors that affect the longevity
of a structure is waterproofing. A botched up
waterproofing job can lead a structure into a vicious
circle of leakage and repairs for a lifetime. However,
one of the biggest factors that affect the longevity of a structure is waterproofing as a botched up job can lead a structure into a vicious circle of leakage and repairs for a lifetime. we offer suggestions for a safer tomorrow
live leak-free, damp-free
| credaitimesmag.org64
focus
October-December’14 | | 65october-december’14 | |
about 85 per cent of contractors and builders are
not aware of the key advantages and proper usage
of using construction chemicals and have limited
knowledge on their proper application.
That’s why it is crucial for an intelligent developer
to consider the various longterm advantages of
waterproofing with right at the conceptualisation
stage of construction. Modern waterproofing
solutions have speed and ease on their side. Most
construction sites are short of labour. Faster
application process reduces labour time which helps
in better cost-effectiveness for the builder as well.
What’s more, the cost of waterproofing, taking
into the account the best of specifications, will not
amount to more than Rs 5 to 10 per sq ft of the total
construction cost. This investment will go a long way
in plugging costs of heavy repairs in the longterm.
Many areas like the basement car parks, terraces
or even fancy spaces like luxurious bathrooms,
swimming pools or fancy spots like podiums
often get neglected and become huge sources of
concern in a building after a few years. Adequate
waterproofing with new age chemicals that form
an impermeable layer around these areas will add
decades to the life of the building.
In fact, elastomeric polymer science has added a
miraculous dimension to waterproofing solutions to
building structures, with a quick and easy solution
for all kinds of leakage issues. Dr Fixit, India’s
one-stop resource to leakage troubles, has been
advocating the cause of proper waterproofing
for decades. Through their efforts, Dr Fixit is
creating awareness about right materials, trials
and demos at each and every site, and site audits
and advisory to drive their agenda of sustainability
and ecofriendly constructions. With their own
pool of applicators, they train labour in correct
application methods on the site as well as in the
classroom. The brand has now taken another huge
leap towards a leak-free damp-free India. Dr Fixit
has now instituted a signature mark, Leak-free
Homes, especially for constructions waterproofed
focus
| credaitimesmag.org66
Many areas like the basement car parks,
terraces or even fancy spaces like
luxurious bathrooms, swimming pools
or fancy spots like podiums often get neglected
and become huge sources of concern in a building after a few years. adequate waterproofing with new age chemicals
that form an impermeable layer around these areas
will add decades to the life of the
building
October-December’14 | |
by their experts. As a symbol of their high standards
and solid commitment to improving the longevity
of Indian construction, the Leak-free Homes mark
will be a certificate of standardized and superior
waterproofing practices and a true measure of
premium construction standards.
After all, detailed preventive waterproofing and a
certificate to prove it will help the developer lobby
develop better structures with more state-of-the-art
amenities for their buyers.
Given the hot and humid weather, heavy monsoon
and extreme weather conditions in most parts of
India, wear and tear of tall buildings is an area of
concern. Exposure to extreme heat and water can
take its toll on a structure. The focus of construction
technology, therefore, should be to protect
structures from the onslaught of water and heat.
It is observed that in general, water seeps through
external walls within the first five years of building
completion. Seepage is caused by high wind speeds
that so many of our tall buildings are exposed to.
This is caused by lack of proper waterproofing and
preventive external wall care. Building envelopes
must, therefore, be adequately designed and
constructed to prevent ingress of water. Attention
should also be given to critical areas like gaps in
walls, wall coatings and tiling on the terrace which
can lead to leakage in future.
Terrace waterproofing and sustainability
Plush highrises have extremely high consumption of
energy because of central air-conditioning. Energy
saving is apriority for a responsible economy. In
a country where we have a shortage of power,
all buildings which consume AC should be well-
insulated. The world over there is now a greater
demand for green sustainable buildings that can
help us live a more environmentally responsible
lifestyle. A green building is one which is durable
and optimises energy efficiency, as compared
Plush highrises have extremely
high consumption of energy because
of central air-conditioning. energy
saving is apriority for a responsible
economy. In a country where we have a
shortage of power, all buildings which consume aC should be well-insulated.
The world over there is now a greater
demand for green sustainable buildings that can help us live a more environmentally responsible lifestyle
elastomeric polymer science has added a miraculous dimension to waterproofing solutions to building structures
67
to a conventional building. Dr. Fixit introduced a
pathbreaking range of waterproofing and insulation
system, Low Energy Consumption. It offers an
excellent range of waterproofing solutions that also
help in thermal insulation ensuring up to 60% of
energy conservation for a structure with a 25-year
long accountability! Dr. Fixit Blueseal is a newly
launched systems solution from this unique range to
counteract the limitations of conventional system of
brick bat coba for waterproofing and insulation. It’s a
spray applied seamless polyurethane membrane for
roofs with screed at a competitive rate.
Millions of bathrooms leak
Exposure to heavy rainfall or internal bathroom
leakage can lead to corrosion of beams, rising
dampness and unhygienic algae infested walls
which can damage the concrete in a structure. Most
multidwellings face this issue and do a disservice
to the aesthetic and durability of the structure.
Sustained research indicates areas prone to
leakages in bathrooms. This can be treated with a
comprehensive one kit solution. Dr. Fixit Bathseal
kit can ensure 100% leak-free bathrooms. One kit
per bathroom is customized in different pack sizes to
cater to the builder’s requirement.
Extra care for the wet areas
Typical wet areas in a complex are the luxurious
bathrooms, swimming pools or the fancy spots like
the podium. These structures need attention as it
contains multiple utilities and movements. Dr. Fixit
FastFlex – Swimming pool is a high performance
polymer modified cementitious coating for water
bodies and open balconies.
Advent of exterior coatingsWhile most builders
deliberate over cosmetic and design features of the
structure, it has been observed that little attention
is paid towards critical areas like gaps in between
Typical wet areas in a complex are the luxurious bathrooms, swimming pools or the fancy spots like the podium as it contains multiple utilities and movements
focus
| credaitimesmag.org68
walls, wall coatings, tiling on the terrace etc. At
times, gaps in walls can result in serious leakage
through external walls. This can damage expensive
interiors too.
According to experts, either cement or general
exterior acrylic paint is not sufficient protection
for your building. For effective waterproofing
of external walls, the coating material should
function as a strong impermeable layer around
the structure. Hence it is a must to opt for a high
quality acrylic emulsion polymer which are uniquely
combined with weather durable pigments, graded
fine fillers and additives and can act as a barrier to
liquid water and carbon dioxide gas; but permeable
to water vapour.
There are unique waterproofing products like
Dr. Fixit Raincoat, a high performance acrylic
elastomeric coating for external walls and Dr. Fixit
Newcoat which can bear heat, humidity and rainfall
and form a layer around the construction of terraces.
These products also bridge existing cracks, maintain
flexibility and strength over a broad temperature
range, resisting dirt pick up and fungal/ algal growth.
Dr. Fixit Raincoat comes in more than 700 shades
(wall paint is not required at all) and are suitable for
all types of exterior surfaces—cement and asbestos
sheets alike. This proves to be a cost-effective
alternative to regular acrylic decorative paints.
Attention to basements
The various systems of basement waterproofing
includes tanked protection where a liquid applied
coating or membrane can be applied on all internal
surfaces, integral waterproofing system where
structure has to be designed like a water retaining
structures or a combination of those two for
important structures. Malls and public buildings
should have additional provision of drainage
system equipped with a pumping system. In case
of basements all joints are very much critical which
should be provided with water bar at all horizontal,
vertical joints of floors and walls.
For existing basement structures facing the
problem of moisture ingress, can be rectified
with a crystalline coating. For basements having
water seepages or leakages can be rectified with
a polyurethane injection. Dr. Fixit Samshield is
a special tear resistant self adhesive SBS based
membrane cross laminated with Valeron devised
specifically for basement upkeep.
Dr. Fixit, largest waterproofing brand in India
Dr. Fixit sees a paradigm shift in construction
practices and spearheads the proposition of modern
system solution approach against conventional
waterproofing techniques. It has a comprehensive
range of solutions for the builder community to build
a Leak Free India.
focus
| credaitimesmag.org70
for existing basement
structures facing the problem of
moisture ingress, can be rectified
with a crystalline coating. for
basements having water seepages or leakages can be rectified with a polyurethane
injection. dr. fixit samshield is a special tear
resistant self adhesive sBs based
membrane cross laminated with Valeron devised specifically for
basement upkeep
India Property Show in Dubai
The Indian Property Show, organised
by Sumansa Exhibitions, in December
2014 at World Trade Centre in Dubai,
was a grand success. CREDAI-
Maharashtra had a special pavilion
where more than 15 builders and
developers, especially from Pune and
Nagpur, participated. The show was
inaugurated by famous Bollywood
actor-director Arbaaz Khan.
Over 173 developers
showcased more than 600 projects
across the length and breadth
of India, ranging from affordable
homes to hi-end villas in four distinct
pavilions. A large cell was established
on the occasion wherein distinguished
lawyers from Mumbai, Delhi and
Bengaluru provided free legal advice
related to property purchase and
other important information free of
cost to investors. Prospective buyers
were educated during free seminars
by property gurus on investment
options across various Indian cities.
Vaastu sessions were held wherein
tips were disseminated. CREDAI
Maharashtra had taken special
initiatives and efforts to make this
show memorable.
Pathnatya show on various welfare schemes,
announced by Maharashtra Building & Other
Construction Workers Welfare Board was conducted
December 31, 2014, at Dwarka, Chakan, Eagle Nest,
Vadgaon Maval and The Spires, Banner Site. Vikas
Jadhav, HR Head; Adv RE Kulkarni; Samir Parkhi,
assistant manager, Labour Welfare from CREDAI-
Pune Metro; Sri Ghuge, safety & security advisor;
Parag Pande and Mohan Kulkarni from Manoranjan
Group were present for the closing Pathnatya show.
Manoranjan Group explained the various welfare
schemes effectively through Pathnatya performances
with a number of labourers and contractors getting
impressed from the same. They also showed their
willingness to register with BOCW Board. The event
was attended by more than 120 labourers from Dwarka
Site, Chakan, 100 labourers from Eagle Nest Site,
Vadgaon Maval Site and 130 labourers from The Spires
Site, Banner . The event was well planned, organised
and exeucted by Naiknavare Group.
Pathnatya shows on Naiknavare Group Sites
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The growth and development of
any city is reflected through its
infrastructure. The CREDAI-Pune
Metro is playing a significant role and
in the same direction, it organised the
15th Mega Property Exhibition. The
Expo is an ideal platform to showcase
projects, creativity, varied tastes of
new era homes, budget homes, eco-
homes and lavish homes etc.
CREDAI-Pune Metro organised
one of the popular and most awaited
official mega property exhibitions
between January 9-11, 2015 at
SSPMS Ground in Pune. This was the
15th year of property exhibition and in
all these years, CREDAI-Pune Metro
has earned to instill trust and goodwill
among property buyers which speaks
of its growing popularity. Since the
members abide by the Code of
Conduct adopted by the association,
home buyers can approach the
grievance cell of the association which
has raised the level of confidence and
trust among home buyers.
Important features of the
exhibition include 172 stalls that had
participation from 106 members.
Apart from member developers,
financial institutions/ bankers including
HDFC Housing Finance, LIC Housing
Finance, Sundaram BHP Paribas
Home Finance Ltd, State Bank of
India, Reliance Home Finance Ltd and
PNB Housing Finance Ltd participated
in the exhibition .
This time, a few new online
features for promoting projects of
15th Mega Property Exhibition of CREDAI-Pune Metro
members during have been included. These new initiatives
include a separate landing page for each developer and
their project; each customer will have a unique QR code
for Ease of Access to the exhibition and there is a specific
Application made for CREDAI exhibition 2015, which can
be downloaded by the visitors before hand to guide them
through the exhibition. Then there is a special augmented
reality arena to give the visitors the experience of Pune.
With around 50,000 footfalls, there has been 150 flat
booking in three days and the total figure is likely to go
up. Dignitaries like the municipal commissioner, divisional
commissioner, district collector and town planners to
encourage the participants.
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national delhi ncr pune chhattisgarh madhya pradesh
CREDAI Bengal Annual General Meeting
The 25th Annual General Meeting of CREDAI Bengal was
held at RCTC Kolkata on September 25, 2014. Sri Firhad
Hakim, Urban Development Minister, Government of West
Bengal was the chief guest on the occasion. A presentation
on the accomplishments of CREDAI Bengal achieved during
the last three years was made during the proceedings in the
presence of eminent industry leaders and CREDAI Bengal
members.
Sri Hakim and the outgoing president Sri Harsh
Vardhan Patodia and members alike praised the government
for their inclusive approach to development in the sector
along with the private one. The minister congratulated
CREDAI Bengal for continuing to play an important role
in making the real estate sector more organised and
professional. Sri Sushil Mohta was elected the new president
of CREDAI Bengal, along with Sri Nandu Belani and Sri
Piyush Bhagat as vice presidents.
Kreta Suraksha Mela 2014 CREDAI Bengal participated in
Kreta Suraksha Mela 2014 between
November 24-27, 2014, at Netaji
Indoor Stadium. The exhibition
was organised by the Consumer
Affairs Department, Government of
West Bengal with the bid to make
consumers aware of their rights.
It was inaugurated by Sri Sadhan
Pandey, MIC - Consumer Affairs,
Govt of West Bengal; Sri Subrata
Mukherjee, MIC - Public Health &
Engineering, Panchayat & Rural
Development, Government of West
Bengal and Sri Biman Banerjee,
Speaker, WB Legislative Assembly.
Keeping with the CREDAI mandate
of ensuring consumer protection
and implementing transparency,
CREDAI Bengal made its presence
felt at the exhibition through a large
stall, communicating to the visitors
on the need for an improved connect
between the developers community
and buyers at large and towards a
direction which CREDAI Bengal had
taken large strides. Brochures and
informative literature were distributed
to all visitors apprising them on
the role of CREDAI Bengal as an
association which works hand-in-
hand with flat buyers to address any
anomalies/ disagreement arising out
of a flat-purchase.On the occasion,
Sri Sushil Mohta, President, CREDAI
Bengal, said,” At CREDAI Bengal, we
work for the sustainable development
of the workers and promoters and
encourage them to pursue best
practices and corporate governance.
Our participation in Kreta Suraksha
Mela showcases our intent in promoting consumerawareness
through proactive policies in this profession.”
A large turnout was witnessed at the CREDAI Bengal
stall and numerous queries about CREDAI and consumer
protection were responded to by members of the CREDAI
Bengal Secretariat. Also, a seminar was held on the last
day of the event, pertaining to “Real Estate and Consumer
Rights” wherein Sri Prajata Chakrabutty, Legal Officer,
CREDAI Bengal, introduced the audience to CREDAI and its
methodology for handling grievances of customers against
CREDAI Bengal affiliated developers.Overall, CREDAI
Bengal’s participation helped in communicating to end-users
about how CREDAI’s objective was to build an environment
of mutual trust and confidence between the developer
and the buyer, and holistically build a fair relationship with
the consumers.
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Get the best out of your heritage property
CREDAI Bengal co-hosted a seminar and panel
discussion, Get The Best Out Of Your Heritage Property
along with Murshidabad Heritage Development Society
(MHDS) and iLead on November 22 at the Palladian
Lounge. West Bengal governor Sri Keshari Nath Tripathi
was the chief guest and inaugurated the day-long
seminar by lighting the ceremonial lamp along with Sri
Sushil Mohta, Sri Harsh Vardhan Patodia, Sri Pradip
Chopra and several other dignitaries. The seminar
witnessed the distinguished participation of eminent
panelists and industry stalwarts who shared their
national and international experiences and experiments
to restore, conserve and convert the heritage properties
into a financially viable entity which can be replicated
in West Bengal.The seminar was held with an aim
to promote entrepreneurship by sensitising heritage
property owners about various business opportunities
and possibilities available today to restore and preserve
their heritage properties through viable economic models
that can earn revenue.
CREDAI Bengal has commenced a determined
effort to preserve our heritage across the state of West
creating national and international
tourism markets as well as to promote
entrepreneurship. A distinguished
panel of delegates comprising
heritage asset owners/custodian,
trustees, curators, government
officials, hospitality industry
leaders, representatives of national
and international organisations,
conservation architects and
architecture students participated in
the seminar with the sole aim to create
awareness about the rich and vibrant
heritage of Bengal – encompassing
architecture, arts, history and social
mores. Some eminent panelists
who attended the seminar were Sri
Aman Nath, heritage entrepreneur
associated with restoration of
Neemrana Fort and Sri Debasish
Nayak, Director, Centre for Heritage
Management, Ahmedabad University.
Bengal and on the occasion, Sri
Sushil Mohta, president, CREDAI
Bengal said, “We believe the
preservation of heritage buildings
and along with them its inherent
tradition endorses the fundamental
bond with our historical, cultural,
educational, aesthetic and economic
legacies. We require a substantial
policy to preserve the heritage
properties in India and make
some of them a viable business
proposition for future. These
buildings are a work of art and
can act as ideal tourist getaways.
All across European nations there
is a significant development in
revamping its heritage structures
as tourist attractions.”The seminar
uncovered the multiple usages of
heritage assets, innovative and easy
to implement economic models for
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rajasthan andhra pradesh bengaluru karnataka odisha maharashtra
CREDAI concluded the two-day
CREDAI Conclave themed on “Clean
India-Skilled India-Strong India” in
New Delhi. Industry voices from
across social activists and top notch
real estate captains came together
along with all relevant ministries at
the biggest platform of real estate
- CREDAI Conclave. The main focus
of this year’s conclave was the
importance of the housing issue in
the country, skill development for the
sector and the pledge for a Swachh
Bharat by the CREDAI fraternity to
work effectively towards garbage
reduction and waste management.
The Minister of Urban
Development and HUPA Venkaiah
CREDAI Conclave 2014 addresses Indian Real Estate sector’s issues
Naidu launched the CREDAI-JLL report on Housing for
All: Reforms Can Make It Happen Sooner which focussed
on urbanisation coupled with the ever-growing demand
for housing that has become a regular feature of Indian
society. Elaborating on the efforts of the Modi-led
Government, Sri Naidu stressed on the efforts the present
government. He said that the government stands for
growth and development. He said that under the able and
dynamic leadership of Prime Minister Sri Narendra Modi,
India is poised for change and the government is looking
at wealth creation leading to wealth generation, the need
of the hour.
The annual conclave witnessed the participation
of dignitaries like Sri Prakash Javadekar, Minister for
Environment and Forests; Sri Ramkripal Yadav, Minister of
State for Drinking Water & Sanitation; Sri Ashok Gajapathi
Raju, Minister of Civil Aviation; Sri Vibhav Kant Upadhyay,
Chairman, India Center Foundation and Sri Sanjaya Gupta,
MD, PNB Housing Finance Ltd.
According to Sri Rohit Modi, President, CREDAI
NCR, “The ninth edition of the CREDAI Conclave was a
phenomenal success. The two-day conclave saw active
participation and support from all relevant ministries
and other real estate leader from all over the country.
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The event witnessed the presence
of Haryana chief minister who has
given an open invitation to private
developers to come to Haryana and
contribute to the Prime Minister Sri
Narendra Modi’s vision of “Housing
for All by 2022”. The panelists put
forward the burning issues facing
the sector in front of the reputed
ministers with Sri Javadekar assuring
the industry of radical reforms
in the process of approvals. The
minister assured speedy clearance
of all pending issues in a month’s
time. This has infused a positive
sentiment in the sector and we are
all charged up to work towards the
objective of “Clean India-Green India-
Skilled India”.
the projects. While the Government is working towards
making the rules for environment waste standardised
and clearance however we need affordable science and
technology to improvise the current scenario of realty
sector in India. We need to take policy-led decisions and
take reality to the new heights by reducing the time span
for clearance and red tapism. I congratulate CREDAI
for signing the MOU with IFC which will emphasise on
following the standards of maintaining green building.”
Addressing a distinguished gathering of over a
thousand developers from all over the country on the
second day of the ninth CREDAI Conclave, Minister of
State for Drinking Water & Sanitation, Sri Ramkripal Yadav
said, “The two major challenges faced by India today
are non-availability of clean drinking water and lack of
sanitation. Our mission is to work towards ‘Clean India,
Healthy India’ which is the dream of PM Sri Narendra
Modi and can be realised by 2019 with the continued
support of the citizens.”
Since the construction
and housing sector is one of
the significant contributors to
the country’s GDP, there were
discussions at the conclave to
understand the challenges faced
by the sector and the possible
solutions to overcome them. Around
a thousand developers who were a
part of the conclave were satisfied
with the response of the Minsters
and are raring to move forward with
their initiatives.
Sharing views on environment
clearance, Sri Javadekar, Minister
for Environment and Forests, said,
“The Government has made the
provision of e-clearance to bring
the transparency and speed up
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rajasthan andhra pradesh bengaluru karnataka odisha maharashtra
Clean India-Skilled India-Strong India, Union Minister
of Urban Development and HUPA, Sri Venkaiah
Naidu lauded the body for taking up the issue of skill
development for the sector as the theme of the conclave.
Assuring CREDAI of complete support, Sri Naidu praised
the nodal body for its contribution to the growth in urban
in development and promised to relax taxation, help
process approvals at the earliest as growth is the agenda
of the Modi-led Government.
The inaugural session was attended by Sri P
Muralidhar Rao, National General Secretary, BJP; Sri Anuj
Puri, Chairman and Country Head, Jones Lang Lasalle and
Sri Lalit Kumar Jain, Chairman, CREDAI besides others.
Sri Naidu launched the CREDAI-JLL report on
Housing for All: Reforms Can Make It Happen Sooner
added the Civil Aviation Ministry has
brought out the aviation draft policy
recently requesting for suggestions
from various stakeholders where
the issues of pending cases of the
housing and construction sector can
be addressed and handled online to
ensure speedy solution.”
cRedai is oUR PaRtneR in PRogRess: sRi VenKaih naidUInaugurating the ninth edition of
the annual CREDAI Conclave 2014
comprising over 900 members on
On the occasion, Sri Yadav
said, “Garbage management is a big
challenge today and CREDAI can play
a major role by introducing state-
of-the-art technology to manage
garbage as it has done so in the state
of Kerala under the CREDAI flagship.”
The Minister of Civil Aviation, Sri
Ashok Gajapathi Raju said, “The
housing and construction sector is
a crucial sector which contributes a
major share to the GDP. There is an
urgent need to strive and create a
level-playing field for the government
and private players in this sector. He
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which focussed on urbanisation
coupled with the ever-growing
demand for housing that has become
a regular feature of Indian society. In
this pretext, the Government of India
acknowledges the importance of the
housing issue in the country and it
has launched a mammoth goal that
promises to provide housing for all
its citizens by 2022. The Government
would soon roll out the Sardar Patel
Urban Housing Mission which will
ensure 30 million houses by 2022,
mostly for EWS and LIG households.
Acceleration of housing will
accelerate output at these industries.
Therefore, it will invite expansion of
these industries, demand for capital
expenditure and accelerate the entire
economy as well as GDP growth of
our nation.
Elaborating on the efforts
of the Modi-led Government, Sri
Naidu stressed on the efforts the
present government. He said the
Government stands for growth and
development. Praising the current
PM, Sri Naidu said that under the
able and dynamic leadership of Sri
Modi, India is poised for change
and the Government is looking at
wealth creation leading to wealth
generation, the need of the hour.
“The present Government
believes in unleashing the forces of growth through
various sectors. We need to relook at urban India and
economic development which will lead to advancement
of India. We understand the contribution of our partners
and we know that we cannot progress in achieving our
Housing 2020 Plan without the support of private sector.
The real estate sector contributes to 6 pc of the GDP and
am confident it will go up to, at least, 12-13 % by 2022.
We strongly believe in a public-private partnership for our
success. There has to be synergy of nature, culture and
future and CREDAI should accept this as a fundamental
rule. Housing sector has tremendous growth opportunities
and it is the second largest employer in the country today,”
added Sri Naidu.
The minister felt there is a shortage of 16 million
manpower worldwide but India has the capability to
provide manpower to the global market. He said the
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rajasthan andhra pradesh bengaluru karnataka odisha maharashtra
The second edition of CREDAI
Bengal Realty Awards 2015, in
association with The Telegraph and
knowledge partner CRISIL, is slated
for March 19. The first edition were
a stupendous success, put together
by overwhelming participation
of CREDAI Bengal members and
CREDAI Bengal’s brand presence,
the vitality of astronomic media
coverage by The Telegraph (both pre
and post-event) and the credibility of
CRISIL’s presence.
This year too, the Realty
Awards are back with all the star
ingredients to make it an event worth
remembering. The Awards 2015
will once again acknowledge and
celebrate excellence in real estate
sector, by awarding the contribution
CREDAI Bengal Realty Awards 2015
Deen Dayal Upadhyay Yojna is to
be launched for skill development
besides providing other
opportunities. With development
being the core focus of the present
government, India will soon emerge
as a strong power.
CREDAI Conclave 2014 is a
platform to deliberate Prime Minister
Sri Modi’s ambitious goal “Housing
for All by 2022” informs its central
tenet. The Conclave deliberated on
enabling policy measures to maximise
private efforts in this direction.
The event witnessed the pledge
for a Swachh Bharat by the CREDAI
fraternity to work effectively towards
garbage reduction and waste
management. With this pledge,
CREDAI would become the first
among the associations of industry
to adopt Swachh Bharat mission. At
the conclave, CREDAI would unveil
their initiatives on skill development
including setting up a Greenfield
Institution for Skill Development in
Real Estate sector as this sector is
one of the largest employers in India.
of real estate sector players who have raised the bar and
set a new benchmark for the overall sector in the state.
CREDAI Bengal members have nominated their projects
for this year’s CREDAI Bengal Realty Awards 2015
which shall be shortlisted by an independent jury and the
winners selected by a consensus among the jurors.
The Realty Awards 2015 is a landmark event for real
estate sector stakeholders in eastern India and promises
to be a star-studded event which will be hosted at The ITC
Sonar, Kolkata.
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chapter news national delhi ncr pune chhattisgarh madhya pradesh
A one-day divisional level workshop
on KVAT on real estate sector was \
organised by CREDAI-Gulbarga
in association with Department of
Commercial Taxes, Government
of Karnataka. The workshop was
attended by officers of commercial
taxes department, chartered
accountants, tax practioners and real
estate developers from Gulbarga,
Bidar, Raichur and Yadgir districts.
The workshop was inaugurated
by Sri Vipul Bansal, Deputy
Commissioner of Gulbarga. He
appreciated the initiative of CREDAI
and said these kind of interactions
among all stakeholders such as
government, real estate developers
and consultants should be held
regularly to find solutions on various
issues. He asked the real estate
developers to come forward to
take up the social responsibility of
providing affordable housing to the
weaker sections of society.
Sri Md Rafiuddin, president,
CREDAI-Gulbarga and managing
director, Asian Builders, said in his
welcome speech that the construction
industry is the second largest
economic activity of country after
agriculture. It is second biggest labour
employer and it contributes more than
CREDAI-Gulbarga organised workshop on VAT on real estate sector
US$40 billion to Indian economy. He
said CREDAI welcome government’s
ambitious plan to provide “Housing for
All by 2022” and development of 100
Smart Cities. Gulbarga is shortlisted to
be one among them. He further said
CREDAI has always been a strong
advocate of affordable housing and
with a right policy framework and
public approach “Homes for All” is an
achievable target. CREDAI is keen to
contribute in the best possible way
to achieve government’s objective of
housing to all.
After the inaugural session,
the technical sessions were primarily
divided in two parts. The first part was
devoted to Introduction of on works
contract law and in the second part
issues pertaining to works contract were discussed. The
resource person for the workshop, Dr BV Murali Krishna,
joint commissioner (commercial taxes), e-audit, Bengaluru
gave more insight on the subject through his presentation.
CREDAI Consultant, CA Mrs Annapurna Kabra talked on
the issues faced by real estate developers. She made
comparison between the regular and composition schemes
and issues pertaining to works contract were raised to the
learned speaker from the commercial taxes department.
The participants also raised the issues which are commonly
faced by the real estate developers in compliance with the
VAT law. The session was informative and interactive and
various views with supporting provisions and case laws
were discussed for the benefit of developers.
After the lunch session, learned speaker BV
Muralikrishna and CA Annapurna Kabra analysed the issues
pertaining to works contract with the supporting case laws.
The issues were discussed and analysed in brief were
taxes under different schemes, sub-contractor deduction-
linking to E-upuas, UDS land area, preemptive method
of levying tax in case of joint development, development
of land, documentation for labour to allow labour and
like deductions, back-to-back contract, taxable event,
completion certificate, declared goods, free supply of goods,
interstate works contract.
The joint commissioners of commercial taxes, Sri
Mohammed Maslehuddin and Sri Siddappa were present
as guest of honour. The event was attended by Hyderabad
Karnataka Chamber of Commerce & Industries, President
Sri Radhakrishna Raghoji and its Secretary Sri Amarnath C
Patil. Office-bearers and members of Gulbarga Chartered
Accountants Association were present in large number.
The workshop concluded with vote of thanks by Sri Sanjog
Rathi, secretary, CREDAI-Gulbarga.
| credaitimesmag.org82
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CREDAI Youth Wing concluded its
first Youth Confluence – You The
Future at The Grand Hyatt Hotel,
Goa, between October 10-12. The
inaugural session started with
the introduction and welcome
of the deputy chief minister of
Government of Goa, Sri Francis
D’Souza, followed by the lighting of
the traditional lamp in the presence
of distinguished CREDAI members.
CREDAI Youth Wing aims
at preparing the next generation
of leaders and torchbearers in
housing and real estate sector.
Housing sector is the biggest
employer for the economy after
agriculture and contributes 10% to
GDP. There is a huge opportunity
for further growth and expansion
of the sector, the nation having
adopted the policy of ‘Housing for
All by 2022’ works to remove the
housing shortage of 18.78 million
units within the perspective. The
Youth Wing focusses on three
main areas: technology, research
and CSR activities. The first
CREDAI Youth Confluence offered
an interactive platform to young
developers to discuss the critical
issues faced by the realty industry
and innovative approaches to meet
the challenges especially with a
view to maximising involvement and
participation of younger generation
contributing in the global movement
of real estate. At the Confluence,
interactive sessions were conducted
by prominent speakers like Sri
Niranjan Hiranandani, co-founder &
MD, Hiranandani Group; cricketer
CREDAI Youth Wing hosts its first Youth Confluence – You The Future
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October-December’14 | |
Sri Anil Kumble and Cybertect Sri
James Law.
Speaking on the occasion, Sri
Amardeep Singh Hira, Chairman,
CREDAI Youth Wing, said, “Youth
are the future of tomorrow. The
motive behind the concept of
CREDAI Youth Wing is to encourage
a second generation of developers
in the business and enable them to
take up the responsibility as a future
leaders and help bringing a change
in the realty industry.” He added
that CREDAI Youth Confluence 2014
– ‘You The Future is the first step
in this direction to bring together
the best of young developers from
across the country and create the
next generation of leadership for
CREDAI.” Sri Lalit Kumar Jain,
Chairman, CREDAI National,
said, “CREDAI has always been
the guiding force for the growing
real estate sector and CREDAI
Youth Wing is an initiative to bring
together the younger generation
of real estate builders and developers and take the
leadership mantle of their business in an efficient,
effective and socially engaged manner.”
At the Confluence, first-of-its-kind CREDAI Next
Gen Icon Awards were felicitated to the youth icon from
across the industries. National President Bharatiya Janta
Yuva Morcha and Member of Parliament Sri Anurag
Sharma; cricketer Sri Yuvraj Singh; actor Ms Prachi
Desai and president of K Raheja Goup Sri Neel Raheja
were honoured. The event commenced with the CREDAI
Youth Wing Open Forum, followed by mesmerising
performances of Benny Dayal and Anusha Mani at the
gala entertainment night.
85
The long-awaited opportunity for real
estate sector in the country, Vizag
Property Expo 2015 was held between
February 27th, 28th and March 1st.
Organised by CREDAI, Visakhapatnam
Chapter, the three-day event
witnessed participation from real estate
developers, financial institutions and
building materials and interior firms.
The idea behind the event is
to offer public an authentic property
meet with all estate developers and
the like under one roof. Estate queries,
development strategies, authentic
Realty Awards 2015business deals and property planning and management
were available for discussions. The event aimed at bringing
marginable estate deals and potential buyers together so
as to develop the real estate setting in the city. The regular
obstacles of mismatched properties, location and time issues
and the like were considerably reduced as the expo gave the
buyers and dealers the real deal.
Sri Rajiv Pratap Rudy, Union Minister of State (Independent
Charge), Skill Development and Entrepreneurship &
Parliamentary Affairs, visited Kushal CREDAI Pune Metro
on February 13. Present on the occasion were Sri Hemant
Naiknavare, President CREDAI Pune Metro; Sri Dilip Chenoy,
CEO & MD, NSDC; Sri Sushil Mohta, President CREDAI
West Bengal; Sri Kumar Gera, ex-Board member, NSDC
and chairman, Gera Developers; Sri Suhas Merchant, Vice
President, CREDAI Pune Metro; Sri JP Shroff, Chairman,
Kushal and Sri Ranjit Naiknavare, Vice Chairman, Kushal .
The Minister was taken from Savitribai Phule Pune
University to The Spires, Aundh site in Kushal training van
by Sri JP Shroff, Chairman, Kushal and Sri Ranjit Naiknavare,
Vice Chairman, Kushal. En route state-of-the-art trade films
were shown to him. He was impressed to see the modified
van and its utility. At The Spires, he was shown ongoing
preparations for Word Skill Competition 2015 under the aegis
of Kushal. He was explained about the training schedule of
six selected participants ie physical fitness training, technical
training and soft skills training with a view for their all-
round development. The Minister interacted with selected
candidates and commended the efforts put in by Kushal.
Rudy visits Kushal facilityThereafter, the Minister was
taken to Kalpataru Jade, Baner, to
show him on the job on-the-site
practical training and the classroom
training of bar bending and shuttering
trades. The Minister interacted with the
trainees and got a positive feedback.
He was shown the safety equipment
and drills adopted.
After visiting the training area,
the Minister was taken for an event at
the same venue which was attended
by more than 300 construction
workers. He distributed certificates
to the certified trainees and also
jackets and ID cards and bank pass
books with debit cards to the trainees
of new batches. He interacted with
the trainees, women contractors
and technical staff to get first-hand
information of training activities and
achievements. He was happy to see
that maximum trainees reported
increase in their wages and the basic
three advantages of training ie time
saving, less wastage and good quality.
On this occasion, an MoU
between CREDAI Pune Metro and
CREDAI West Bengal for Kushal
training in West Bengal was signed
in the presence of the Minister who
congratulated both the organisations
and stated this model should be
replicated across the country. Sri
Kapil Trimal, Joint Secretary, Kushal,
gave a detailed presentation on Kushal
model covering detailed mechanics
of Kushal model functioning and why
and how Kushal model is scalable? The
presentation was well received.
Overall, the visit was successful
and the Minister expressed his
satisfaction on the implementation of
Kushal Model for Skill Development.
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chapter news national delhi ncr pune chhattisgarh madhya pradesh
The second edition of CREDAI Bengal
Realty Awards 2015 in association with
The Telegraph and knowledge partner
CRISIL is slated for March 19, 2015.
The first edition of Realty Awards
2014 were a stupendous success,
put together by the overwhelming
participation of CREDAI Bengal
members and CREDAI Bengal’s brand
presence, the vitality of the astronomic
media coverage by The Telegraph
(both pre- and post-event) and the
credibility of CRISIL’s presence.
This year too, the Realty Awards are back with all the
star ingredients to make it an event worth remembering.
The CREDAI Bengal Realty Awards 2015 in association
with The Telegraph and Knowledge Partner CRISIL will
once again acknowledge and celebrate excellence in the
real estate sector, by awarding the contribution of real
estate sector players who have raised the bar and set a
new benchmark for the overall sector in the state. CREDAI
Bengal members have nominated their projects for this
year’s CREDAI Bengal Realty Awards 2015 which shall be
shortlisted by an independent jury and the winners selected
by a consensus among the jurors.
The Realty Awards 2015 is a landmark event for
the real estate sector stakeholders in eastern India and
promises to be a star studded event, which will be hosted
on 19th March 2015 at The ITC Sonar, Kolkata.
An esteemed jury with prominent names like Sri
Sachin Sandhir, Managing Director, Royal Institution
of Chartered Surveyors, South Asia; Dr Mangesh G
Korgaonker, Director General, National Institute of
Construction Management and Research; Sri Rajiv Mishra,
Principal, Sir JJ College of Architecture; Sri Rahul Agarwal,
Founder & Senior Engineer, Capstone Consultants; Sri
Sachin Nigam, President, CRISIL; Sri Anurag Jhanwar,
Director, CRISIL independently voted to nominate the
winners in each category.
Sri Harsh Vardhan Patodia, President, CREDAI
Bengal, said, “The CREDAI Bengal Realty Awards strives
to boost the morale of realtors around the state by
providing them an organised platform to attain respect and
recognition. CRISIL has been appointed as the knowledge
partner to uphold total transparency and credibility in the
process. The awards should initiate a healthy competition
among real estate developers while raising awareness
among consumers and set a new benchmark for them to
refer to before buying a property.”
Realty Awards 2015
The timing of the awards coincided with the 25 year celebrations of CREDAI
Bengal. It was pertinent to note that it was under the banner of CREDAI
Bengal that real estate developers emerged as a fraternity that worked for a
common set of objectives and now presented an united voice for the healthy
development of the industry benefitting all stakeholders.
Thus, as a fitting gesture to celebrate 25 years of CREDAI Bengal,
the Realty Awards instituted from this year will continue to recognise the
achievements of member developers in the sector, honouring those whose
creations have been par excellence in respect to the defined categories of
achievements.
WinneRs oF RealtY aWaRds 2014
noMination categoRies at cRedai WinneRs
Bengal Realty Awards 2014 Srijan Midlands by Srijan Realty
Best budget housing project (1-4 lakh sq ft)
Srijan Midlands by Srijan Realty
Best budget housing project (4-10 lakh sq ft)
Siddha Town Rajarhat by SiddhaGroup
Best mid-segment housing project (1-4 lakh sq ft)
Ujaas – The Condoville by Ambuja Neotia Group
Best mid-segment housing project(4-10 lakhs sq ft)
Diamond City South by Alcove Realty
Best luxury housing project(min. 50,000 sq ft and above)
Upohaar The Condoville by Ambuja Neotia Group
Best boutique housing project(50,000-1 lakh sq ft)
PS Primiera by PS Group The Unimark Asian by Unimark Group
Best commercial project - Group 1(50,000-1.5 lakh sq ft)
Camac Square by P.S. Group
Best commercial project - Group 2(Above 1.5 lakh sq ft)
Infinity IT Lagoon by Infinity Group
Best commercial project outsideNorth and South 24 Parganas (min. 50,000 sq ft)
City Centre Silliguri by Ambuja Neotia Group
Best designed retail space Best brochure
Sentrum Mall by Bengal ShristiRainforest by Mounthill Realty
Best upcoming residential project(only under-construction or to-be-launched)
Godrej Platinum by Godrej Properties
Best upcoming commercial project(only under-construction or to-be-launched)
The Unimark Asian by Unimark Group
Best green project(only under-construction or to-be-launched residential/commercial projects)
Biowonder by Pasari Group
| credaitimesmag.org88
chapter news national delhi ncr pune chhattisgarh madhya pradesh
October-December’14 | |
CREDAI Clean City Movement, NGO of CREDAI Kochi
has been delivering meritorious service in rejection
management since 2007. This success story was shared
with the participants during the CREDAI Conclave in
November 2014.
CREDAI Clean City Movement held a workshop
on solid waste rejection management at Kochi to share
the methodology and experience of CCCM so as to
implement the bio-bin system of solid waste management
in different parts of the country. In this initiative, 16
delegates representing NCR, West Bengal, Chhattisgarh,
Maharashtra, Tamil Nadu, Bihar, Madhya Pradesh and
Karnataka had gathered at Inner Circle, Hotel Abad Plaza
on February 6, 2015.
Dr Najeeb Zackeria, president of CCCM, Kochi,
welcomed the gathering and Sri Jose Joseph Moonjely,
executive director of CCCM, made the audio-visual
presentation on the activities of CREDAI Clean City
Movement. This was followed by an enthusiastic
interactive session.
Post-lunch, the team visited the CCCM project sites:
Skyline Topaz Apartment: The participants visited the
project site to see and study the self-sustainable solid waste
management through bio bin system installed by CCCM.
Plastic Shredding Unit: CCCM had installed plastic
shredding machines in association with Cochin Corporation.
CCCM regularly collect cleaned plastic and other scrap
items from 350 apartments in Kochi and these are
shredded here and the final product is used for road tarring.
Other scrap items are handed over for recycling units.
Clean Toilets: In association with district
administration, CCCM constructed and is maintaining a
clean toilet at Collectorate, Kakkanad, for public on a pay
and use system.
Manufacturing unit: The CREDAI National Team
visited the manufacturing unit at Sreemoolanagaram to
witness the manufacturing of bio-bins, biogas plant, STP
plants and bio-pot system.
CREDAI Clean India Movement
Plots from Rs 8 lakh and
apartments from Rs 23 lakh
onward were showcased at the
1st Realty Expo of 2015 organised
by CREDAI Bengaluru at Kalyani
Kala Mandir, Bannerghatta Road,
on February 14-15.
Reputed developers of
CREDAI Bengaluru and leading
banks and housing finance
companies participated in the
two-day event. The concept of
zonal expo has been successfully
carried out by CREDAI Bengaluru
enabling prospective customers
to look for their property of choice
and location at a venue closer to
their home or office. These zonal
expos have seen good response
from prospective buyers as they
can make their property choices
under one roof without having to
travel much.
The two-day expo was
inaugurated by Sri KK Malpani,
founder president, CREDAI
Bengaluru, in the presence of
CREDAI officials, member builders
and participating bankers. During
the inauguration, Sri Malpani
said, “This is the third time we
are arranging the expo at Kalyani
Kala Mandir. We are getting good
response in this area. CREDAI is
supported by people of this area
and also developers”.
Positive real estate
sentimentsSri CN Govindaraju,
president, CREDAI Bengaluru,
said, “This expo is specifically
important due to the fact that the
economy is looking up after a long
lull and the expected interest rate
reduction. The forthcoming budget
holds a lot of hope for the sector
and the concerned ministries are
also aware of the various issues
affecting the industry. There are
positive indications of various
bottlenecks being cleared to
enable a healthy competition,
which will benefit the end-user.”
He said that the market
sentiments are positive now
and the year 2014 was the one
of recovery. “We will certainly
witness upward movement in sales
in real estate. This year, concept of
green buildings and innovation are
getting importance in Bengaluru,”
he said, speaking of the real estate
market in the city.
CREDAI Bengaluru Realty Expo was a great success!!
89
national delhi ncr pune chhattisgarh madhya pradesh
cRedai KeRala PRoPeRtY shoW - JW MaRRiot, dUBaiDr BR Shetty, Chairman, UAE Exchange & NMC Hospital, Dr Azad Moopen, Chairman – DM Health Care and Sri Ram Boxani, Chairman – JTL Group inaugurating the CREDAI Property Show in Dubai held in November 21-22, 2014.
cRedai KeRala PRoPeRtY shoW - al FalaJ hotel, MUscatSri JS Mukul, Indian Ambassador; Sri Mohiyuddin Mohammad Ali, Director, MFAR Group; Ms Sayali Chawla, MD, Pan-Eastern T&E Worldwide, inaugurating the CREDAI Property Show in Muscat held in December 5-6, 2014.
cRedai Kochi PRoPeRtY shoW – Jni stadiUM, eRnaKUlaMSri Sanjaya Gupta, MD, PNB Housing Finance Ltd, inaugurating the CREDAI Kochi Property Show at JNI Stadium Ground, Ernakulam held on December 19- 21, 2014.
cRedai Kochi PRoPeRtY shoW - thiRUnaKKaRa Maidan, Kottayam Sri KRG Warrier, Chairman, Kottyam Municipal Council, inaugurating the first edition of CREDAI Property Show in Kottayam.
cRedai thRissUR PRoPeRtY shoW - shaKtan nagaR, thRissURThe sixth edition of CREDAI Thrissur Property Show was held in Shaktan Nagar on January 2-4.
cRedai calicUt PRoPeRtY shoW - saRoVaRaM gRoUnd, calicUtSri MK Raghavan, MP, inaugurating the CREDAI Calicut Property Show at Sarovaram Ground, Calicut. CREDAI National President Sri Sekhar Reddy; CREDAI Calicut President Sri MA Mehboob; secretary Sri Baiju M Nair; exhibition committee chairman Sri Haseeb Ahmed; treasurer Sri Arun Kumar; Sri MP Ahmed and Sri CS Saleem were present.
CREDAI Property ShowsCREDAI TEAM MEETS BJP PRESIDENT AMIT ShAh
A delegation, consisting of CREDAI national president Sri
C Shekar Reddy, president Sri N Jaiveer Reddy, general
secretary Sri S Ram Reddy and CREDAI Hyderabad
CEO Sri MV Rajeshwara Rao called on BJP president Sri
Amit Shah in Hyderabad and presented a memorandum
to him, requesting real estate requiring a set of stimulus
measures to give fillip to the sagging sector so as to
achieve the national goal of Housing For All By 2022.It was
explained that the “affordable housing” segment, riddled
with constraints, needed interest subvention as promised
by BJP in its manifesto and other concessions and reliefs.
Only then could this segment become viable and successful.
Levy of service tax has been a contentious issue and needs
to be reviewed and streamlined as to remove ambiguity in
application at the field level. Funding available from banks
and other financial institutions is quite low as compared
to what is available in USA and China etc. Hence, it was
urged to enhance the percentage quantum of funding so
that the pace of building activity in real estate will increase
and the target of wiping out massive housing shortage in
the country can be achieved.Receiving approvals from
MoEF is a major impediment in the execution of housing
and other projects. The memorandum submitted to the
BJP president gave a detailed explanation as to how the
delays are hurting the growth of economy and made
several suggestions and recommendations to streamline
the environmental clearance processes to cut down delays
and help issue clearances speedily.The memorandum
also gave recommendations on various other measures
including reliefs in direct and indirect taxation. All these
recommendations go to give fillip and stimulus to the
sector and in turn to economy and to higher employment
generation. All these recommendations were submitted to
the finance minister in a pre- budget memorandum. The
BJP president assured he would discuss the matter with the
finance minister Arun Jaitely and advised the delegation to
present a memorandum to the FM and discuss the issues
with him.
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More than 80 builders will display their 600 projects
CREDAI Rajasthan organised Real Estate Expo
between February 6 and 9 at Guava Orchard in Jaipur.
Spread over two lakh square feet, the Expo witnessed
builders displaying property projects worth Rs 5 lakh
to Rs 5 crore, helping prospective customers get all the
information related with real estate under one roof.
CREDAI Rajasthan president Sri Anurag Sharma
siad that according to Rajasthan chief minister Ms
Vasundhara Raje’s development oriented vision,
CREDAI is developing urban areas in the state
and that’s the reason the Property Expo has been
organised. State BJP president Sri Ashok Parnami,
MP Sri Ram Charan Bohra, Additional Chief Secretary
[Urban Development] Sri Ashok Jain and Municipal
Corporation of Jaipur Mayor Ms Nirmal Nahata
inaugurated the Expo. Sri Sharma shared that
international organisation JLL Singapore conducted a
survey in Jaipur through which CREDAI found out that
till 2025, the population of the city will cross 70 lakh
and 6.51 lakh kore houses will be be required for them.
To fulfill this requirement, the state government
Rajasthan Property Expo was a huge successwill take help from private players
and CREDAI Rajasthan as they
need to develop the city and make
it a better place to stay. CREDAI
Rajasthan secretary Sri Sunil Jain
said, “A committee to choose the
best stall in various pre-decided
categories was formed and awards
shall soon be given to them.” Expo
organising committee member
Sri Nitesh Aggarwal shared that
customers who visited the event
were given free tips on home loan
facilities and Vaastu tips.
CREDAI Rajasthan’s executive
member Sri Hitesh Dhanuka
said that CREDAI Rajasthan had
already organised three such
expos in the past with the last one
was comparable to international
standards. “We advertised about
this event on radio, TV, shopping
malls, Facebook, google, twitter
and various newspapers along with
outdoor hoardings and on radio
taxis,” he added.
cRedai hoUse FoUndation stone laYing ceReMonYThe foundation stone laying ceremony for CREDAI Calicut’s new headquarters – CREDAI House was performed by Minister for Urban Affairs, Sri Manjalamkuzhi Ali on January 9. Dr MK Muneer, Minister for Panchayats, unveiled the perspective view of the building. CREDAI National President Sri Sekhar Reddy; CREDAI Kerala chairman Sri SN Raghuchandran Nair; CREDAI Calicut President Sri MA Mehboob and CREDAI National Executive Committee member Dr Najeeb Zackeria were present.
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chapter news national delhi ncr pune chhattisgarh madhya pradesh
Kochi workshop held on Feb 6-7, 2015
At the outset Dr Najeeb Zackeria MD
of the Abad Builders Pvt Ltd gave us
a briefing on the initiative taken by
the CREDAI Kochi chapter on waste
management in Kochi. He mentioned
that CREDAI City Movement (CCCM)
was started in 2007 as a part of
CREDAI Kochi’s CSR activity and
that the CCCM was registered as
an NGO with a working capital of
200 lakh to undertake activities to
upgrade civic amenities in Kochi.
It started by covering 25 High
Rise Residential Apartment & now
covers 560 such Apartments in
Kochi, Trivandrum & Calicut. He
mentioned that most significantly
today the Municipal Corporation
of Kochi accepts the CCCM as its
partner and the certificate issued by
CCCM is accepted by the corporation
in respect of waste management
systems when the developer
applies for a Building Completion
Certificate. Further that the CCCM
has been included in the MSWM
Manual 2014 published by the Urban
Development Ministry, GoI as one
of the best replicable project of
rejection management running in
the country.
This was followed up by a
presentation by Sh Jose Joseph,
the ED of the Credai Clean City
Movement. Copy of the presentation
made before us on the CCCM is
attached. I have also left a coloured
copy of a brochure on this in the
office with a lady official who I think
looks after publications.
The technology is quite simple
and hence easy to replicate. The
waste is segregated at source into
two bins one for Bio Degradable
(green bucket) and second for Non
Bio degradable (yellow Bin). Waste
from the the Bio Degradable Bin is
taken to the terrace of the apartment
by a volunteer and put into a Bio
Digester Bin where it is decomposed
over a period of 20-30 days through
a aerobic process called bio-trigger
mechanism by spraying bio culture.
The Plastic from the Non degradable
Bucket is taken to a plastic shredding
unit operated by CCCM where it is
shredded and stored for use with
bitumen for tarring of roads. There
are a few societies who have also
installed incinerators on the terrace
alongside the Bio Bins to dispose
of items like sanitary pads and in
which case these are seperately wrapped in newspaper.
The remaining Non bio degradable items are taken to
the Landfill site by the KMC and disposed off. We were
informed that the technology selection ie Aerobic Microbial
Composting is based on the recommendation of the
committee set up by the Supreme Court of India on solid
waste management in class one cities. Chapter 3 , 15/1
of the report mentions that this is one of the eco friendly
economical options.
During the second half of the day we were taken
for site visits to see for ourselves different dimensions of
this initiative including one Housing Apartment where the
CCCM has trained the residents in waste segregation and
is collecting the waste and processing the bio degradable
portion at source itself. We were also taken to the Plastic
shredding unit where plastic which is collected from
the Housing Societies all over Kochi is collected and
shredded into pellets and then put into bales with the help
of the bailing unit to be used by road builders for road
tarring. Thereafter we were taken to see a “Clean Toilet”
constructed (in 2008) and maintained by the CCCM in
Kadavanthara area which was the first PPP project on
hygiene management in the city and then to the equipment
manufacturing unit for Bio Bins & the compost collection/
storage unit of the CCCM.
The story of CREDAI Kochi’s Clean City Movement
is really fascinating and at the same time grounded and
not too difficult to replicate. The initiative started in 2007
when Kochi was facing one of the worst hygiene crisis.
The streets of Kochi was full of garbage, & epidemic was
spreading in the city. Air India had cancelled flights to
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October-December’14 | |
Kochi and tourism was very badly affected with 40% of
hotel booking cancelled.
It was at this juncture that the CREDAI’s Kochi
chapter responded and began the CREDAI CLEAN CITY
MOVEMENT (registered as an NGO by the same name).
This initiative was started with the objective to help builders
and residents implement eco friendly self reliant rejection
management at source through a role model of rejection
management which is replicable all over the state. Also
to ensure that the buildings developed by the CREDAI
members implement eco friendly scientific rejection
management to meet the challenges of rejections generated
by them. CCCM works towards raising awareness about
harms caused by excessive waste and extends its help
to developers, citizens and the Govt. (including the Kochi
corporation), in implementing scientific technologies to
manage the household waste being generated in the city.
The CCCM has grown from only 25 apartment
complexes in 2007, to cover 560 such complexes in Kochi
(and now is also covering Trivandrum and Calicut).
» 90% of Building complexes in Kochi now are self reliant
in solid waste management. 100% new buildings have to
have provision for bio bins.
» Waste is segregated at source between Bio degradable
and Non degradable.
» Non biodegradable rejections are collecting from source
for recycling or reusing; rest transported to land fill sites
by KMC
» Out of the 160 Tonnes of compostable bio degradable
waste handled by the Kochi Municipal Corporation 40
the neXt stePsHaving visited Kochi and the sites
carrying out the different activities by
the CCCM I feel that the initiative taken
by it in kochi on waste management
can be replicated in many other
cities in India under a Joint initiative
of CREDAI National and the regional
chapters of CREDAI with the technical
support of CREDAI Kochi. The
solutions of course will vary from state
to state and will need to worked out in
consultation with CCCM. In NCR where
we have pent houses on the roof tops
the solution to place bio bins on the
terraces will not work and perhaps it
would be better to set up a facility on
ground near the STP. Nevertheless it is
an initiative which CREDAI National will
do well to take up almost immediately
given the importance being given
by the Govt. to Waste Management.
We can start by establishing dialogue
with the developers who had sent
their representatives to the workshop
or by talking to the chapters directly.
The project to get off ground will need
a few more rounds of consultations
between CREDAI National and
CCCM team and then also with the
concerned chapters/developers as the
case may be.
Tonnes generated from High
Rise Household Apartments is
processed at source without any
expense to the KMC. As per a
study conducted by the KPMG the
KMC at present spends Rs 3391
Per Ton to handle this. Hence by
the service of CCCM Local Self
Governments saving Rs 1.36 lakhs
per day or approximately Rs 5
crore per annum.
» Generating Employment for 650
women from the weaker section of
the society
» 4380 tones of farmers friendly
Compost is generated per year
from the processing of bio
degradable rejections at source
and used for courtyard gardening
or farming in villages, which ,
otherwise would have dumped
in landfill sites or elsewhere
polluting the water streams and
nearby villages.
» Recyclable rejections which would
have gone to dumping grounds
are transferred to recycling units,
thereby reducing landfill.
» Pollution due to transportation
reduced
» Streets and drainages free
from garbage.
CREDAI Kochi Cultural Fest – 2014CREDAI Kochi Cultural Fest was inaugurated on December 12, 2014 at
Hotel Abad Plaza by Sri Paul Raj, Secretary, CREDAI Kochi.
CREDAI Kochi President, Sri John Thomas, Secretary; Sri Paul Raj,
Joint Secretary; Sri Sunil Kumar, Executive Director and Sri Raveendran
on the occasion of CREDAI Kochi Cultural Fest 2014 held on December
12-13, 2014.
95
With ‘Realty – Growth Beyond
Boundaries’ as the theme of the
event, it saw the best of Karnataka’s
realty on a single platform
CREDAI-Bengaluru Chapter
had the honour of hosting the
annual STATECON 2015 of CREDAI-
Karnataka in the city on January 30.
This day-long, well-synchronised
event, with over 350 delegates took
place at The Atria Hotel. The who’s
who of the real estate world from
CREDAI chapters of Bengaluru,
Belgaum, Bijapur, Gulbarga, Hubli-
Dharwad, Karwar, Mangalore,
Mysore and Udupi were present.
The chief guest, Minister of Transport
and Bangalore Urban, Sri Ramalinga
Reddy, inaugurated the event and
declared the day’s proceedings open.
With a lively Sri Suresh Hari,
secretary, CREDAI-Bengaluru as the
chairman for the convention, the day
began with a traditional invocation.
The ceremonial lamp was lit by the
Sri Reddy, Sri KK Malpani, founder-
president of CREDAI, past presidents
of the Bengaluru chapter; Sri
BalakrishnaHegde; Sri Raj Menda; Sri
MR Jaishnakar and Sri Irfan Razack
and current president of CREDAI-
Bengaluru hosts the annual STATECON CREDAI 2015
will have excellent takeaways at the end of the day, he
observed. Past president Sri Balakrishna Hegde presented
the various issues affecting the growth of real estate
industry in Karnataka with suggestions on various issues
which can bring in positive results. BBMP commissioner
addressed the gathering with assurance to discuss various
suggestions presented.
The chief guest complimented the gathering on the
theme chosen. He said, “The city is constantly expanding
and the demand for real estate will continue to grow.
I believe that there is a need for the urban pool to be
provided with affordable housing options as well. The
Chief Minister has a great vision for the development of
Bengaluru and we would like the help of CREDAI to see
this dream through.” The minister requested that CREDAI
members look into the development of infrastructure such
as lakes, ponds, roads and storm water drains around the
city. He identified with the problems faced by real estate
developers and declared his wholehearted support in
bringing in changes that will help the sector.
The agenda for the day consisted of four main
plenary sessions each anchored by experts from the real
estate field. Sri Razack, CMD, Prestige Estates, spoke on
the Future Challenges for the Industry Including Newer
Technology. Ashish Puravankara, joint MD, Puravankara
Group, spoke on Social and Other Marketing Advantage
and Pitfalls. Sri Sushil Mantri, CMD, Mantri Developers Pvt
Ltd, examined Security Systems and Concerns. A personal
experience on PE Funding was shared by Sri M Murali,
MD, Shriram Properties. These were some of the talks
during the course of the day. The seriousness of the day’s
proceedings was given a break with a session by laughter
therapist Dr Madan Kataria of Laughter Yoga International.
The anchor lecture of the day was by Prof Chetan
Subramanium of IIM Bangalore on Indian Macro-economic
Outlook and its Impact on the Real Estate Sector. The day
closed with business networking.
Bengaluru, Sri CN Govindraju and
chairman of the convention.
Welcoming the gathering, Sri
Govindraju expressed his happiness
of being the host of the STATECON
2015. He said, “This forum is to
discuss important issues on real
estate, related state and city. I believe
progress is possible with a friendly
policy approach.” He hoped the
convention would bring success to all
participants.
In his message, Sri Nagaraj
spoke on the role of industries in
developing real estate. He said,
“CREDAI has been given life by
the state of Karnataka and we only
want to give back. We believe that
boundaries need to change in all
sectors, including realty and only then
will we be able to see progress.”
Chairman Sri Hari presented
the concept of and the contents of
the seminar as keeping in mind the
trend to adopt newer and latest
technology in the construction field.
The sessions covered varied topics
like marketing, technology, finance,
safety and administration. The
delegates, who are from member
organisations from Karnataka
| credaitimesmag.org96
chapter news national delhi ncr pune chhattisgarh madhya pradesh
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Real Estate Infrastructure
WORRIED ABOUT
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AutoCADIntegration
Available on Mobile & Tablet
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A product byPreferred ERP Partner
Phone : Email :
1800 102 1156 [email protected]
Offices : Delhi Kolkata MumbaiAhmedabad Chennai Bangalore
Some of our clients
Srijan ProjectsKolkata
Mani GroupKolkata
InfinityKolkata
PS GroupKolkata
Merlin GroupKolkata
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Fire LuxurBangalore
ApplewoodsAhmedabad
RunwalMumbai
Ajmera BuildersMumbai
Omkar GroupMumbai
AmrapaliNoida
The Wadhwa GroupMumbai
MayfairMumbai
Gaursons IndiaDelhi
MahagunNoida
Raheja DevelopersDelhi
ATS GreensDelhi
Samraat GroupNashik
Fire ArcorNagpur
Enerrgia Skyi Pune
TDI GroupDelhi
GaneshAhmedabad