ICCPL PROPERTY NEWS

PM MODI LAUNCHES Rs. 7500 CRORE WIDENING PROJECT

     Honourable Prime Minister of our country, Shri Narendra Modi today launched a mammoth Rs. 7,500 crore project for the widening of Delhi-Meerut Expressway and replace it with an expressway to decongest the National Capital and nearby regions. The alignment of Delhi-Meerut Expressway will begin from Nizamuddin Bridge from Delhi and continue on the existing NH 24 upto Dasna, which will length to about 30.38 Kms. Between Delhi and Meerut there is only one route at present, NH 58, on which traffic remain jammed at several places. The project is estimated to be completed in 30 months.

The entire project is proposed under four packages with the three packages Nizamuddin Bridge to UP Border, UP Border to Dasna and Dasna to Hapur project cost at Rs. 2,809.60 crore. The fourth package will be a new alignment of Delhi-Meerut Expressway from Dasna to Meerut and six laning of connector. Bids for the Delhi-Hapur section of NH 24 project in three packages on new hybrid annuity model have already been invited. It is proposed that new alignment of the expressway from Dasna to Meerut and six-laning of connector is also to be taken after the completion of 90 percent land acquisition. The 87 Kms project besides 9 Kms connector will have 6 lane expressway and 4+4 lane highway, service roads, cycle tracks, flyovers, elevated sections, major and minor bridges, railway overbridges, vehicular underpasses and pedestrian underpasses. The total land required for three packages is 348.6 hectares of which 343.36 hectare has already been acquired. The cost of the entire project is estimated at Rs. 7,566 crore including construction of 28 Kms long 14 lane Delhi-Dasna section of Delhi-Meerut Expressway at a cost of Rs. 2,869 crore. The construction of 46 Kms long, 6 lane Dasna-Meerut section of Delhi-Meerut Expressway will cost Rs. 3,575 crore. Besides 6- laning of 22 Kms long Dasna-Hapur section of NH 24 will cost Rs. 1,122 crore.

Real Estate Sector Joyous:

Mr. Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz

“The much awaited news for the core region of NCR has finally arrived. This widening project will greatly help in decongesting Delhi, provide smoother ride throughout the stretch and allow an unprecedented realty growth of NH 24 and its adjoining regions such as Noida, Greater Noida West and micro pockets of Ghaziabad such as Indirapuram, Siddharth Vihar, Crossings Republik, Raj Nagar Extn. and others. There will now be a sudden rise in demand for residential property across this stretch in the upcoming few months.”

Mr. Ashok Gupta, CMD, Ajnara India Ltd.

“Due to traffic jams and congestions, this stretch of NH 24 had started to loose interest amongst the potential customers which had adversely affected the property demand for the region. We all have been a witness to the development at Delhi, Ghaziabad and Noida; but the corridor along NH 24 was becoming a pain for the residents and commuters due to which the market demand was taking a blow. The crucial stretch for widening has been launched; the micro pockets along NH 24 will now observe a northward demand movement along with rapid price appreciation. This region has seen development at a rapid pace as several residential and commercial projects have been setup at Indirapuram, Crossings Republik, Siddharth Vihar and parts of Noida which have been largely occupied by people working and commuting from Delhi.”

Mr. Vikas Bhasin, MD, Saya Group

“The stretch from Nizamuddin Bridge to Dasna is the most crucial line on NH 24 as it is the gateway for key real estate regions such as Ghaziabad and Noida. This route was highly congested which had caused traffic woes resulting to negative sentiments floating amongst residents and commuters of this region. Now since this project has been launched and the complete land parcel almost acquired, this will relax the existing residents and commuters of the regions along with igniting the demand for residential real estate across NH 24. Investors will now make a comeback in these regions which will help in clearing the piled up inventory in the market.”

Mr. Kushagr Ansal, Director, Ansal Housing

“It has always been witnessed that construction of a roadway itself has produced great results for the realty prospect of the regions falling across those routes. The widening of NH 24 will be no less than creating a new roadway for the region as the existing stretch was heavily under traffic pressure that had resulted in traffic chaos and gradually a dent on property demand. A congestion-less NH 24 will pave way for greater demand for residential property and result in good capital appreciation in near future as this stretch has always been the lifeline for commuters from Delhi to Ghaziabad and Noida.”

Mr. Rupesh Gupta, Director, JM Housing

“The most prominent sight that we will witness after the widening of NH 24 will be the appreciating prices and steep rise in demand along the properties located on the NH 24 belt with smooth traffic flow and no jams. The demand in the micro regions of Ghaziabad such as Indirapuram, Siddharth Vihar, Crossings Republik, Raj Nagar Extn., Noida Extn. and some sectors of Noida will witness a major rise. Also, having an expressway in the middle will help in generating a lot of revenue for the government along with non-stop traffic flow.”

Mr. Akash Deep, Managing Partner, HomzCart

“The widening of Nizamuddin Bridge to Dasna is of much significance considering the fact that it is one of the busiest and congested highway stretches of the country and the traffic load has been increasing substantially as we see a lot of residential complexes have come up over the years. This initiative will also help in resolving the issue related with connectivity from NH 24 to Greater Noida West, lost property demand and pollution. The only thing to be kept in mind will be the time period of 30 months within which this work has to be completed. Each day of delay will add to major traffic problems on the stretch as this upgradation will itself be a mammoth task.”

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ICCPL PROPERTY NEWS

JM HOUSING ORGANISES BLOOD DONATION AT JM AROMA

Delhi/NCR: With over 15 years of expertise in real estate, JM Housing has become synonymous with quality construction and customer satisfaction. In continuation of it’s societal responsibilities, the company successfully organised a Blood Donation Camp at it’s recent residential project JM Aroma in Sec – 75, Noida.

The camp was organised in association with a local blood bank. Several enthusiastic participants including employees, contractors & their teams and the residents of the company’s project Aroma participated in this noble cause. The program continued for the whole day with full enthusiasm. Every donor had to pass through the preliminary medical tests like BP, Hb, weight etc. before donating the blood. The donors were offered a rotary club blood donation card for the future use.

Speaking on the occasion Mr. Rupesh Gupta, Director, JM Housing said “It is the responsibility of every organisation to give back what they can to the society. This is one step towards the same in our continued & spirited efforts to enrich the society. The event witnessed a decent gathering and was much appreciated in the area. People not only in the locality but also in the neighbourhood appreciated the idea and gave it a good response. We look forward to our segregated efforts towards the same and would keep organising more CSR activities in the time ahead.”

About the company:

Started in the year 1999, JM Housing Limited, an associate concern of JM Group, is a repute name in the real estate sector of Delhi & NCR. They are one of the prominent names engaged in providing real estate solutions for commercial and residential construction service to the clients. Founded on a strong lineage and an established reputation, JM Housing Limited is a leading real estate development company whose philosophy is based on Client Satisfaction, Execution Excellence, and Timely delivery. JM Housing Limited was formed with the sole purpose of providing professional and honest service to its valued customers.

ICCPL PROPERTY NEWS

JM HOUSING ORGANISES BLOOD DONATION AT JM AROMA

Delhi/NCR: With over 15 years of expertise in real estate, JM Housing has become synonymous with quality construction and customer satisfaction. In continuation of it’s societal responsibilities, the company successfully organised a Blood Donation Camp at it’s recent residential project JM Aroma in Sec – 75, Noida.

The camp was organised in association with a local blood bank. Several enthusiastic participants including employees, contractors & their teams and the residents of the company’s project Aroma participated in this noble cause. The program continued for the whole day with full enthusiasm. Every donor had to pass through the preliminary medical tests like BP, Hb, weight etc. before donating the blood. The donors were offered a rotary club blood donation card for the future use.

Speaking on the occasion Mr. Rupesh Gupta, Director, JM Housing said “It is the responsibility of every organisation to give back what they can to the society. This is one step towards the same in our continued & spirited efforts to enrich the society. The event witnessed a decent gathering and was much appreciated in the area. People not only in the locality but also in the neighbourhood appreciated the idea and gave it a good response. We look forward to our segregated efforts towards the same and would keep organising more CSR activities in the time ahead.”

About the company:

Started in the year 1999, JM Housing Limited, an associate concern of JM Group, is a repute name in the real estate sector of Delhi & NCR. They are one of the prominent names engaged in providing real estate solutions for commercial and residential construction service to the clients. Founded on a strong lineage and an established reputation, JM Housing Limited is a leading real estate development company whose philosophy is based on Client Satisfaction, Execution Excellence, and Timely delivery. JM Housing Limited was formed with the sole purpose of providing professional and honest service to its valued customers.

ICCPL PROPERTY NEWS

REALTY LOOKBACK AT 2015 AND OUTLOOK 2016

     Being one of the prime contributors towards Indian GDP and employment generation, a lot is always expected out of the real estate sector. This sector alone is responsible for being a user for over 30 allied industries and sectors. As we bid a goodbye to 2015 and gear up for 2016, a lot has changed since the beginning of this year where several major announcements were made for infrastructural developments and the country in general that will highlight realty sector as its backbone. Much was delivered during the course with still some left in pipeline for the next year.

ROLLER COASTER RIDE IN 2015

Year 2015 began quite well riding high on positive market sentiments due to current government’s enthralling victory back in 2014. Since then, a lot was expected out of them to assist this sector by easing the ways doing business thereby boosting the growth nationwide. “Modi led BJP government came strongly into power that led to rise in expectations from them. The start to January 2015 was greatly fuelled when RBI had announced repo rate reduction after one year. The same feat was followed in the next bi-monthly policy review that finally opened the gates for banks to reduce loan rates thereby pulling back the lost demand”, states Mr. Rupesh Gupta, Director, JM Housing.

After RBI’s push in the beginning of the year, budget session was near where industry status was hugely in demand from this sector’s players. Single window clearance system, Land acquisition bill and RERA bill had also started to make rounds as the dreams of next level infrastructure was pretty much on the cards. “Industry status for the realty sector has been long in the wishlist of the players along with a regulatory body at the centre to curb the problems pertaining and bring much needed transparency. First budget by the new government was unable to meet sector’s expectations on this line, but talks are still going on with chances looking bright of its execution by next year. With Smart India Mission underway, it will become crucial to pass these bills and give an industry status to the realty sector soon”, explains Mr. Mukesh Khurana, MD, Rudra Buildwell.

As more and more time was spent in the middle by the government, a series of initiatives were announced and many were implemented. For instance, Swachh Bharat Abhiyan, Black Money Bill, Make In India, Bharat Mala, SEBI’s nod to REITs, Digital India later during the year and massive fund announcement and allocation for infrastructural development across country were few of the hits till then, but the sector saw a major dent in market sentiments in the form of increased service tax from 12.5 to 14 percent. Price of under construction properties across the nation had shot up, adding onto the pressure for the buyers. This was later neutralised by a surprise repo rate cut by RBI. Gradually the government was showing signs of settling down when it completed its first year of being in power in the country. “With the government sitting strong in the middle, then came a big announcement for the country in the form of Smart India Mission. Under this mission, 98 cities were shortlisted for the next level of development, 500 AMRUT cities were declared for urban transformation and Housing For All was announced to meet the housing shortage in the country. An overall outlay of Rs. 48,000 crore was announced for the same and allocation has also commenced. Smart India Mission was the biggest highlight of 2015 which has actually created a platform for upcoming years”, Mr. Vikas Bhasin, MD, Saya Group.

For the performance of this sector, it is imperative that a decent inventory level of units is maintained and prices are practical. But in India, over the last couple of years of slowdown, tier 1 cities saw property prices sky rocketing which looked good from the investors point view but went down as a bane for end users. This gradually resulted in huge inventory pile up of over 50 months in few regions, thus denting the demand. Because of this, 2015 was a year where prices saw a downward trend with customers going missing from the market. “Period from 2006 till late 2008 was a witness to India’s best performance in the realty sector where demand, supply and returns were on its peak. Post global recession, the market till third quarter of this year was almost dried out with investors and end users not showing any signs of interest. Property prices till this year had come down by almost 30-35 percent across major tier 1 cities with huge inventory piling up. This coupled with falling loan rates has given a huge sigh of relief to the customers thereby bringing them back in the market due to decreased cost of properties, ready inventory and future expectations of returns. Thus, 2015 will be regarded as a year of downfall and equally, a comeback of the Indian realty sector”, elucidates Mr. Ashok Gupta, CMD, Ajnara India Ltd.

Highlighting feature of 2015 was undoubtedly the promptness for infrastructural development in the country. It is true that real estate can survive only when there exists a strong infrastructure in the region. Understanding of this need and its conversion to reality is the need of the hour, something that has been made prominently visible this year. For instance, fund allocation for the financial year 2015-16 for NHs was planned at Rs. 81,006.99 crores out of which Rs. 32,518.78 crores have been already spent that constitutes to 1,00,087.02 Kms of National Highway roads spread across the nation. The emergence of Asian Highways in India will act as a step to take India’s infrastructure and real estate on the global map. The work on India-Myanmar-Thailand(IMT) Trilateral Highway is already underway with India to have six Asian Highways (AHs) in near future, out of around 80 AHs to be constructed. Also, recently the government had set aside a total of Rs. 11,654 crore for the transformation of 272 cities and towns in the country, under AMRUT plan. Metro rail network has been catching up pace in tier 1 & 2 cities such as Faridabad, Noida, Jaipur, Chennai and others. Thus, from the infrastructure point of view also, 2015 has been a year which observed a lot of fund allocation but still, lot remains to be provided for 2016 and subsequent years. “Real estate market of a region cannot perform unless there is a strong platform of infrastructure present. The concept of green highways and transit oriented developments has been well accepted in our country which will in future, serve as new concepts of modern day smart development. This year we witnessed a series of announcements for infra upgradation that will help in shaping up the regions in times to come, and as the infrastructure progresses, we will see promotions of tier 2, 3 & 4 cities as well”, avers Mr. Vivek Gupta, Director, Vardhman Estate & Developers (P) Ltd.

We cannot deny the fact that if India alone has to look for its development, then it can take us centuries to develop like other developed nations of today. Thus, the role of foreign investment becomes pretty important in cases like ours, where economy is still in the developing mode. 2015 saw a remarkable turnaround with respect to FDI inflow in India. This very year itself the overall FDI inflow in our country stood at USD 30,254 million till October 2015 in comparison to USD 23,239 million achieved from January to October 2014. Already there is a rise in FDI by over 30 percent in comparison to the last year. Speaking about the construction industry, norms for FDI had been eased to lure foreign investors. For instance, several norms such as conditions regarding bringing $5 million in six months has been removed, area restriction of floor area of 20,000 sq. meters in construction development removed, each phase of construction development project to be considered as separate project for FDI and foreign investor permitted to exit/repatriate income before project completion if a lock-in period of 3 years is met. In such cases, it becomes easy for the investors to enter and settle their businesses. “The easing of FDI norms in the construction and housing sector is sure to leave an endless positive impact on the realty sector of India in general. Although, 100 percent cap for FDI was still there but affordable housing wasn’t getting the direct benefit, which will now be a new beneficiary here. Also, removing of minimum capitalisation amount and area restriction will serve as a huge breather for those planning to invest in India. Overall, the housing sector of our country is ready to receive the fruits of FDI which will reap benefits in near future”, shares Mr. Ankit Aggarwal, CMD, Devika Group.

Last two quarters of every calendar year in Indian real estate is considered to be the highest revenue generators, and most policy based decisions are heard due to parliaments’s monsoon and winter sessions. Monsoon session of the parliament this year was a complete whitewash due to constant roadblocks by the opposition, where Land acquisition bill and RERA bill were to be tabled. A mere 3 percent productivity was achieved during the one month long session. Later, final festive season of the year commencing with the Navratris till post Diwali was observed which resulted in better sales and possession of ready units, in comparison to the last few years. Sentiments were better this time due to prices being on its record low along with ready inventory. Recently, as the winter session began, hopes were high from the current government to deliver what was missed last time. GST and RERA bills became prime concerns, where RERA bill got a nod from cabinet, GST has been just making rounds and rounds with no promise of getting implemented due to reckless attitude of the opposition yet again. Hence, 2015 in this context has been on the receiving end as nothing has moved out of the parliament on a positive note. “From the realty sector’s point of view, this year was quite balanced with several hits and misses. Demand and sentiments were much better this year that paved way for better supply. High inventory levels are not much of a concern when the demand is good, something which was very prominent this year, added with reduced prices of properties along the major tier 1 cities, lowered lending rates and relaxed FDI norms. This year would have been complete had GST, RERA and Land acquisition bills been implemented, as the Smart India Mission will rely heavily on their passage. Also, industry status and single window clearance system has to be executed at pan-India level so that developers’ calls are easily answered. Indian real estate sector is gearing up for a better 2016, but still a lot is to be decided and declared”, concludes Mr. Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz.

SMOOTHER 2016 IN SIGHT

2015 was indeed a roller coaster ride for the realty sector of our country as several minor achievements could be observed but nothing concrete was attained. Although, with still a lot left in pipeline, 2016 is sure to be the year of transformation for the Indian realty sector. “After a decent, full of positive sentiments start, there came a road of bumpy ride in the sector where indirectly affecting announcements were made but vitals were still missing. Although, the seeds of today are fruits for tomorrow and we are sure that 2016 will be one such example where all the misses of 2015 such as GST, RERA, Land acquisition bill and industry status for the sector might become the headlines in the New Year”, expresses Mr. Kushagr Ansal, Director, Ansal Housing.

With repo rate presently standing at 6.75 percent, there is still a lot of scope for lending rate reduction by banks in India. Prices are expected to become stagnant and stop the negative slope being brought forward from 2015. Thus, long term investor confidence and end user interest in Indian real estate is expected to enhance as the promise of better returns and lesser pressure on the pockets due to reduced EMIs is certain. “A total of 125 basis points of repo rate was reduced in the calendar year 2015, signalling loan rate reduction by banks. Prices in 2015 had come down to its record low and those buyers who took this as an opportunity have made a perfect decision. The dual benefit of reduced EMIs and lowered prices will work in their favour as prices in 2016 are expected to see an early stagnancy and later in the final quarter, it’s appreciation will begin. Long term investors and end users must make most of this time in order to reap out the highest benefits”, claims Mr. Sushant Mutterja, CMD, Cosmic Group.

Housing for all by 2022 was a major chant of 2015 to help fulfil the cause of providing over 2 crore houses to the country. This had led to the rise of more 1 and 2 BHKs getting constructed across the nation. Projects with high density, not many modern amenities and smaller units are the need of the hour which will open the gates for meeting the demand of affordable housing. “Analysing the market demand dynamics and being socially responsible are extremely important factors to consider while in this business. Providing a roof to everyone is crucial for nation’s HDI and thus, 2016 is ready to see an upsurge of low cost housing with basic amenities made available to the public. State government’s housing schemes aided with affordable housing options from private players will become fairly visible in the year to come”, explains Mr. Vikas Sahani, CMD, Property Guru.

As tier 1 cities saturate on prices and development, tier 2, 3 & 4 cities will be the next den for developers, investors and second home buyers. These cities will be the next to look out for in 2016 as the long term option of development and returns will be better with tier 2, 3 & 4. “As the inventories in tier 1 cities keep piling up and remain unsold, the pressure on developers will begin to mount. 2016 will witness a rise of real estate in tier 2, 3 & 4 cities as capital appreciation, return on investment and better options for buyers will become greatly available. Tier 2 regions will become the biggest focus area for cash starved and newbie developers. At the same time, investors will have more options to choose from”, avers Mr. Sudeep Agrawal, MD, Shri Group.

FDI will be the big ticket for Indian real estate in 2016 as the norms for the same has been relaxed with country’s prime focus being ease of doing business for foreign nationals. “As more and more FDI gets pumped in our country, it will not only bring along funds, but with it different ideas, intellect, concepts, knowledge and manpower which will boost the economy and employment generation in the country. This sector will get into limelight more than others since FDI in this sector will provide benefit to over 30 allied industries and sectors. Therefore, with greater FDI in the realty sector, there will be a much needed push to the affordable housing plans and next level infrastructure in the country”, affirms Mr. Rakesh Yadav, Chairman, Antriksh India.

Heavy duty plans for infrastructural upgradation were already well underway in 2015. Fund allocation had also begun for Smart cities and AMRUT. The dream of superior and world class infrastructure is on the move which will now catch up pace in 2016. “With 98 declared cities gradually submitting their plans of becoming infrastructurally smarter and 272 cities and towns receiving over Rs. 11,000 crore boost from the government, the platform is all set for 2016 to become a year of urban transformation in India. As work on the infrastructure front catches pace, the demand for real estate will run parallel to it. Therefore, it is expected that 2016 will be a very crucial year for the growth of realty sector as well as the economy in general”, says Mr. Amit Chaudhary, MD, Rhythm Ccounty.

A lot of promise, with some execution and even more to be delivered in 2016; the roadmap is well laid for the New Year to become one of the most interesting and promising years of Indian realty sector’s history. “Indian realty sector is taking a lot of positives from 2015 to the next year. With several big announcements from the government this year and gradually things gaining momentum, 2016 is ready to create a turnaround for the sector. Just to make sure that things fall in place as forecasted; few key decisions will have to be taken on priority basis that should include GST, RERA, industry status, single window clearance and Land acquisition bill. Union budget 2016-17 too will play a vital role with Smart India Mission in pipeline. Next year, a lot of FDI is expected to make way into the realty sector as well. This entire process of revival and getting back on track can take about 6-9 months of the coming year while the sales will start picking up from the first quarter of the year itself eventually leading to an upward movement in the sector’s growth graph which might earn the industry status by then”, concludes Mr. Rajesh Goyal, Vice President CREDAI-Western U.P. & MD, RG Group.

ICCPL PROPERTY NEWS

REALTY GETS CONSIDERATE TOWARDS CLIMATE

   With the onset of global industrialisation back in the 18th century, gradually came a time when the demand for its final product, ‘Real Estate’ started to catch up pace. As real estate rose in demand, providing its supply began to create environment damaging residual in the form of deadly ‘emissions’. Although, with an enthralling support that our country received at the Global Climate Summit 2015 in Paris; India is all set to go green in ways of future development where realty sector is all set to be the prime contributor.

“There is no denying in the fact that preparation of raw materials and finally, the entire construction process discharges vicious residuals that can harm the environment. Since industrialisation and emergence of real estate industry, there has been no looking back in the course of development which has now led to environmental damage. Finally, with the nations uniting to work for this cause and advanced technology becoming available, Indian realty sector is sure to revolutionise in terms of green concept”, explains Mr. Ankit Aggarwal, CMD, Devika Group.

Real estate involves emissions in various forms. Right from where the raw materials are produced and even after the point till every roof is occupied, emissions never stop. Taking a broader look, there are many forms of emissions that affect the environment that we live in. Prime raw materials for any real estate sector are Cement, Steel, Gravel and Sand. All these may not seem to have a direct contribution to emissions but they do indirectly. Mr. Ashok Gupta, CMD, Ajnara India Ltd. adds, “Transportation is one of the biggest contributors to emission in the real estate sector. Fuel burnt while transporting raw materials and sand introduction in the environment is one such example wherein transportation has to be effective. NGT’s order to cover truck tops while transporting sand in urban areas was an initiative which has helped this cause. However, still the problem is not eradicated and there has to be a push to switch to better modes of transportation.”

Bifurcating his point, we do see that there is one important factor which has to be brought to light. This being the most considerable of all, transportation is the biggest contributor to emission in the construction stages of every real estate project. Adding substance to it, Mr. Sudeep Agrawal, MD, Shri Group says, “The best that can be done in case of raw materials is either go for the use of pre fabricated building materials or identifying high volume construction zones and set up nearby production houses to reduce on the transportation involved. This will go a long way in reducing on the greenhouse gases produced during this and help curb on the emissions.” Adding further, Mr. Rupesh Gupta, Director, JM Housing states “Even when a project is occupied by residents, their risk from exposure to emissions is not limited. All ongoing projects in the vicinity keep them exposed at all times. This means that either you deliver projects only when all the surroundings are developed or innovate greener ways to construct. Sustainable development does not only mean to have greenery around and to use renewable sources for energy. It starts right from building green. Steps like using fly ash bricks, replenishing ground water through rainwater harvesting are considerable steps towards this.”

Building green does not simply mean to use green materials like fly ash bricks and cement less gypsum. It will involve greener ways to transportation of raw materials and greener ways to continue post possession. This may include having double panelled window panes in order to reduce heating in summers and heat escapes during winter. Introducing centralized channelled vent flows in high rises so that sunlight reaches all floors during day time, reducing the need for artificial lighting during daytimes. Trying to setup temporary build up facilities around high density construction areas to reduce on the transportation can also be a solution to the impetus. Mr. Deepak Kapoor, President CREDAI – Western U.P. & Director, Gulshan Homz clarifies, “Building green is definitely the need of the hour but the society is not ready for it. Taking up greener ways of construction will increase the final cost of construction by at least a bare minimum of 10 to 15%. The society is not ready to bear the brunt of increased prices as a result of building green but sooner or later, we will have to take this cost under consideration. This will all depend on the need of the hour and the authoritative measures which are introduced to curb emissions.”

Adding weight to his comments, Mr. Kushagr Ansal, Director, Ansal Housing avers, “There are other mighty steps which when implemented properly will help in curbing on the emissions which are caused as an end result of providing these facilities. Like use of smart building techs can minimize indoor temperature fluctuations, in turn reducing the need for air conditioning as per the outdoor climate. Solar panels have already become a necessity of high rise buildings. It can be taken up on a broader scale where in solar cells can be mounted on rooftops to help solve electricity needs. Small contributions from every structure towards the saving of electricity will account big on a national level.”

There have been considerable pushes from the government towards curbing emissions in households and increasing dependency on renewable sources of energy. The GOI has already implemented plans under which almost 20 million LED bulbs had been distributed resulting in savings of almost 7.3 million units. The target set by the government is 770 million LED bulbs by 2018 and one can well estimate the extent of energy savings this will lead to. Concluding on this, Mr. Vikas Sahani, CMD, Property Guru says, “Real Estate is a very dynamic sector. If the market does not require it, we cannot produce it. The case is different in other sectors. The need is created post development but over here, the development happens post the need is felt. We are not in the dark about the emissions happening because of all the developments and even post it but there has not been that push to build green as of now. However, as the country now moves ahead on the idea of Smart Cities and Housing for All, sustainable development cannot be overlooked and definitely build green will be a big part of it all.”

ICCPL PROPERTY NEWS

CHENNAI FLOODS: A LESSON FOR REALTY SECTOR

        A region being close to coast, riverbeds or under the radar of regular or irregular monsoons is sure to receive Poseidon’s wrath anytime. This brings our attention towards the importance of having a strong drainage management system along with sturdy structures in the regions so as to avoid any form of damage or bringing the region to a standstill. The recent Chennai floods have come out as an eye-opener for several realty regions such as NCR, MMR, etc. as they sit along several rivers and face irregular and untimely rains throughout the year. As the global warming is catching pace on the planet Earth, nature’s forces must be taken seriously for a better future of all. Thus, we now look into how well Indian realty is prepared from the developers’ perspective or infrastructure facilities currently available in the regions.

“History has been a witness to how regions have been completely whitewashed due to floods arising out of nonstop rains and proves infrastructure’s weakness to cope up with nature’s forces. In such cases, a strong regional drainage management disposal system along with structural strength of properties gets tested to the core. In India, these are still weak spots with private companies trying to offer solution based housing projects to tackle such problems”, explains Mr. Rupesh Gupta, Director, JM Housing.

Researches prove that higher amount of floods dampens the ground which gradually weaken the tectonic plates below. This in turn damages it thereby drastically increasing the chances of earthquakes in future. Hence, having strong structures allows to neutralise this effect to a certain extent. “For instance, as Delhi/NCR sits on seismic zone IV along with the presence of Ganga, Yamuna and Hindon rivers, chances of floods and quakes are almost doubled. Thus, we make sure that projects stand ready equipped with structural soundness to stand against strong quakes and features like rainwater harvesting, water storage and drainage systems to avoid water accumulation of any sort”, shares Mr. Vikas Bhasin, MD, Saya Group.

To answer how developers are imbibing features and facilities to allow residents to live peacefully during situations of catastrophe, Mr. Sushant Muttreja, CMD, Cosmic Group avers “Whenever a project is planned, proper monitoring of habitat and environment is done so as to understand the extent of damage it may put on the structures in event of worst case scenario. Thus, all of our projects are planned keeping in mind stability of the structure and added facilities with sufficient trained manpower that allows such disasters to be managed with utmost care”.

Speaking about the lack of supportive infrastructure in the regions, Mr. Mukesh Khurana, MD, Rudra Buildwell says “The reason why rains get converted into floods is because of the problems persisting with the sewerage and drainage management systems. Also, disaster management teams in our country aren’t efficient enough as we see that final solution is provided by Army personnel. In such cases, local civic authorities need to make sure that infrastructural facilities never come out as the loopholes for the region, as it is the residents who end up suffering. We as developers can also offer facilities in the projects to a certain extent, to avoid level 1 problem but post that, things have to be looked into by the authorities only”. Adding to his fact, Mr. Rakesh Yadav, Chairman, Antriksh India states “Modern day realty development is working closely on safety and security needs of its residents. From water harvesting and drainage system to bunker sites, RCC framed structures for earthquake resistance to professional in-house disaster management teams, and so much more. Developers are charging nothing extra to offer such facilities as these are the basic rights of every resident of a project. Thus, it’s a joint effort that private and public bodies must undertake to secure the residents of any given region”.

“Recent floods at Kashmir, Chennai and Mumbai, damages resulting from earthquakes in the North East and parts of NCR are a reflection of our continuous failure to provide sound infrastructure to the country. It is very important to take lessons from these events and come out with precautionary measures for the residents so as to negate this damage effect. Thus, work at both, public and private level needs to be taken up very seriously where the private players are already doing a lot by providing several disaster management facilities whereas, public sector still requires a major revamp especially for Tier 1 regions”, concludes Mr. Kushagr Ansal, Director, Ansal Housing.

ICCPL PROPERTY NEWS

REALTY SECTOR ANSWERING THE SECURITY CONCERNS

     What is the purpose of owning a house when it is not secured? What is the purpose of owning a house when you can’t get mental peace? What is the purpose of owning a house when your money is bound to go waste? Providing houses to public is one aspect of fulfilling the duty, but what is the purpose of providing houses without proper safety and security measures? Housing sector in India is extremely vast which has been rising in demand due to ever-growing population. Thus, answering the housing needs is incomplete if sound security and safety of residents is not taken into consideration.

“Real estate sector in India has always been on the wrong side of the news due to various negative incidents that have taken place over the years. Although, with technological advancements, this sector has supplemented itself with better amenities and facilities to provide sound and peaceful environment for the residents to resolve their day to day security concerns”, states Kushagr Ansal, Director, Ansal Housing.

Commenting upon a recent kidnapping incident which occurred with a family residing in a prominent project of Rajnagar Extn., Monaly Sinha, a resident of the same project said “First and foremost, it is the duty of parents to be most careful while signing up with a stranger. Proper police verification of the workers and other staff needs to be done. Secondly, on the developers’ part, it is important that before the residents start moving in, safety and security facilities must be in place under all circumstances, something that was missing here”. Answering this specific need of the residents Mr. Sushant Muttreja, CMD of Cosmic Group avers, “More than serving the country by providing homes, it is important to serve the people of the nation by offering services which should get highlighted in a positive sense. Safety and security needs of the residents must be kept on priority as otherwise; there is no point in just offering a structure for their living. We, in our projects offer gated communities with round the clock security, day care centres that enables working couples not to leave their children unattended while they are at work”.

“Absence of visual monitoring and safety equipment in residencies had led to incidents not getting captured in real time, thus leading to greater problems, hassles and financial & personal losses to individuals and families”, says Harday Gupta, a resident of Noida. Safety features in a project vary from fire-fighting equipment to structural stability, good quality elevators to CCTV cameras and many others. Thus, every single element accounts for the safety of the residents. “High quality and standardized fittings of electricals, plumbing, raw materials, fire-fighting equipment and others are a must to make sure that a structure is sound for peaceful living of the residents. We have made sure that all our projects are fully equipped with fire and security protection systems that are centrally monitored in all building functions and systems”, explains Mr. Rakesh Yadav, Chairman, Antriksh India.

“It is true that no one can stand against nature’s forces but, precaution is always better than cure. This brings our attention towards the significance of having a strong structure which can atleast give time to move and not go down as a pack of cards. Fortunately, all the quakes that shook NCR recently were not that strong, thus granting me enough time to vacate four floors down”, said Atikant Kashyap, a resident of Ashram, New Delhi. With India standing on seismic zone IV which is considered as a ‘High Damage Risk Zone’, structural reliability of the towers in projects comes into picture. The need to offer RCC framed structures or other such earthquake resistant techniques have become the need of the hour, looking at the series of earthquakes that had shaken the Northern parts of India. “Residents in India must not worry too much as every developer associated with CREDAI has appointed well-known architects and structural consultants, who in turn design each and every building as per the National Building Code. So we can assure that all our buildings are structurally safe and all structural designs are duly vetted by senior and learned professionals from IIT Delhi, IIT Roorkee and/or similar institutions”, elucidates Mr. Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz.

Another aspect that this topic leads us to is the concern for old age or senior citizens. We always think about the safety of our aged elders more than ourselves, as they spend most of the time inside the house. “It is crucial to offer facilities in the project to suit the lifestyle of every age group of residents, priority being senior citizens. They spend almost every second of their day inside the house while children are out at work. Thus, additional features such as home assistance, ambulance and cab on call provisions have been included in modern day concepts of amenity designing. Guarded elevators and complexes also enhance the security quotient of the project”, shares Mr. Sudeep Agrawal, MD, Shri Group.

“Security features are something which every prospective client ponders upon while deciding over properties. As per our observation of the market and the features looked by people making visits on our website, it is very obvious that no one is ready to compromise on security. A similar attitude needs to be imbibed by the builders and developers, as well so as to allow customers to go ahead and buy property based on returns and growth, rather than safety concerns”, concludes Mr. Ajay Rakheja, Co-Founder & CEO, Creindia.com.