Credai times oct dec'14

October-December 2014

Complimentry copy not for sale

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Welcome!

Sanjeev SrivaStvavice-President, CreDai and editor-in-chief

[email protected]

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.


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


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


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


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


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.


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


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?


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


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


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


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)



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

21


October-December’14 | |



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.

23



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.



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

25



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



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


27



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



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

29



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)


Plotted Residential typology 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.

31



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




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



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


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


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



The major upcoming residential township projects are by the Chaddha Group and IREO Group

35



Mapping of Upcoming Residential developments in Mohali micro-market


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



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

37



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


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



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



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





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


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


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


Prominent Upcoming Residential developments in Panchkula area

The city, like Chandigarh, restricts private activities in main sectors

41



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


different Residential typologies in Panchkula


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


43



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



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



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


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



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


non it commercial office grade a stock in chandigarh (multi-tenanted)


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



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


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.



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


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:


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



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


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


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


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


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


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.


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


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


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


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


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.


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


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


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


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


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


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


chapter news national delhi ncr pune chhattisgarh madhya pradesh


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.

73

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.




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

75

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.




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

77


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




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

79


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.



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.



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




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.



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




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.



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.



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




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



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Mani GroupKolkata

InfinityKolkata

PS GroupKolkata

Merlin GroupKolkata

JanaadharBangalore

Fire LuxurBangalore

ApplewoodsAhmedabad

RunwalMumbai


Omkar GroupMumbai

AmrapaliNoida


MayfairMumbai

Gaursons IndiaDelhi

MahagunNoida


ATS GreensDelhi

Samraat GroupNashik

Fire ArcorNagpur

Enerrgia Skyi Pune

TDI GroupDelhi

GaneshAhmedabad



WORRIED ABOUT

MANAGING GROWTH?

CONTROL IT WITH



Your mantra to






AutoCADIntegration


Available on Cloud


Phone : Email :



Some of our clients


Mani GroupKolkata

InfinityKolkata

PS GroupKolkata

Merlin GroupKolkata

JanaadharBangalore

Fire LuxurBangalore

ApplewoodsAhmedabad

RunwalMumbai


Omkar GroupMumbai

AmrapaliNoida


MayfairMumbai

Gaursons IndiaDelhi

MahagunNoida


ATS GreensDelhi

Samraat GroupNashik

Fire ArcorNagpur

Enerrgia Skyi Pune

TDI GroupDelhi

GaneshAhmedabad

Credai times oct dec'14

Real Estate

Transcript of Credai times oct dec'14