May Issue

OBSERV

ER DAW

NPrice `100, Year 2, Issue M

ay 2013

24

outlookoffice markets: a downward Trendaccording to global real estate consultant, cushman &wakefield, office absorption in india drops 37% oversame period last...

14

44

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56

52

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interviewit is our endeavor to ProvideProjects that offer them with a grand lifestyle

cover storysHri group: an innovative & most Trusted developerafter consolidating the real estate landscape in mathura andvrindavan with landmark projects, sHri group is on an expanding spree...

careermusica india: what sets us apart?can drum lessons after school help rohan breezethrough his homework?

Trendredefined Bathing luxurywith oyster’s lagoon...

eventobserver dawn hosts the indian realty carnivalThe realty carnival was organized at The great india Place (TgiP),Noida and was inaugurated by politician and mla from dadri, mr. satvir singh gujjar...

desk Newskings Xi unveils Prayag’s Productsdisney india Ties-up with supertechPhase iii of godrej Properties

Hariom TyagiEditor

acHyuT NaTH JHaManaging Editor

rakesH PuroHiTmaNoJ cHaTurvedi

Consulting Editors

makraNd PraTaP siNgHLegal Editor

raJkumar cHaudHryamiT agarwalCorrespondents

aJeeT TyagisHaileNder cHaudHry

Sales & Marketing

aNwarul HaqueArt Director

umaNg goelGraphic Designer

Hariom sHarmaVideo and Photographer

JagaT kumarAdmin.

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Briefing

Letter From the Editor

Opting for a cautious approach

In normal circumstance too, if things are not moving on the expected linesand there are underlining risk factors, we move with a caution. While thiscommon wisdom may look too simple to get proper attention, the RBI's re-cent cut in repo rate simply indicates so. As India grapples with economicgrowth, Governor D. Subbarao announced short-term lending rate cut by

25 basis point (at 7.25% now from 9% at its peak),hoping that the same cantrickle down to the end-borrower. Significantly, this is the third cut in the lastfour months. For those expecting more aggressive policy easing, this has comeas a dampener. Bankers responded in the same manner and showed their re-luctance to pass out to borrowers, saying that there is unlikely to be a cut as costof funds still remain high due to the prevailing liquidity tightness. Their standvirtually dashed the hopes for unwinding the high EMIs that home loan borrow-ers have been forced to cough up over the last three years.It has been observed that each time the central bank uses its monetary tool,business leaders and the government try to exert pressure arguing that highborrowing costs hurt consumption demand and firms' capacity expansion plans.While their concern is reasonable, high inflationary pressure leaves a little spacefor RBI to do more cuts. Rather, it warned that there was little room to ease mon-etary policy further. At 7.25 per cent, the repo rate is the lowest since May 2011.In what is supposed to be his last annual policy statement, as he is scheduledto retire in September, Subbarao, said: “The balance of risks stemming from ourassessment of the growth-inflation dynamic yields little space for further mon-etary easing." He sought to put the ball in the government’s court. “Recent mon-etary policy action by itself cannot revive growth. It needs to be supplementedby efforts towards easing the supply bottlenecks, improving governance andstepping up public investment, alongside continuing commitment to fiscal con-solidation.”However, putting a brave face despite RBI’s hawkish tone, finance minister P.Chidambaram sounded a tad bit optimistic and said there was scope for furthermonetary easing if inflation comes down. But FM appears clueless about tack-ling the inflation which remained uncomfortably in double-digits, most of times.The moot question, taking into account, conflicting posturing by the centralbank and government, is: Is there scope for reviving investment in different sec-tors along with balancing the demand-supply matrix which could put inflationin manageable range? In recent times, fiscal consolidation, restricting currentaccount deficit(CAD), lower GDP growth, failure to ease the supply side and thelevel of governance, all contributed to the sliding growth and the economy-wide squeeze.Even diehard optimists like us will go the RBI way which says, in unequivocalterm, that quality of governance, project implementation and removal of struc-tural bottlenecks will determine the speed of India's recovery. Is the political establishment listening?

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Connect with Hariom Tyagi

4 OBSERVER DAWN lMay 2013

RBI warned that

there was little

room to ease

monetary

policy further. At

7.25 per cent, the

repo rate is the

lowest since May

2011.

Hariom Tyagi

Editor, Observer Dawn

Mr. Pankaj Bansal Director, M3M

“Given the overall domestic and global economic scenario, the 0.25 % reduction in the repo rate announced by the RBI isa cautious but welcome balancing act. This should result in lowering the cost of borrowing across all sectors of the in-dustry. Should this result in a drop in housing loan interest rates, it will help revive demand for the real estate indus-try. We look forward to more demand stimulating measures that will address the complex issues of supply sideconstraints and thus help in keeping inflation under check,” says Mr. Pankaj Bansal, Director, M3M.

Mr. Pankaj Kumar JainDirector, K World Group

“We welcome apex bank’s move to cut repo rate by 25 bps which now stand at7.25%. Going forward this reduction may allow commercial banks to lower the

interest rates thus making loans cheaper and bringing buyers back again tothe market. I understand that while real estate sector was expecting a big cut

but looking at the current rate of inflation and also at the overall economicgrowth which is back on recovery path, RBI’s step is justified. We are confident

that if inflations comes down further and economy evolves, we expect RBI toannounce some more rate cuts in near future,” says Mr. Pankaj Kumar Jain,

Director, K World Group.

Mr. Deepak KapoorDirector, Gulshan Homz

Deepak Kapoor, Director, Gulshan Homz says, “Given the overall domestic andglobal economic scenario, the 0.25 % reduction in the repo rate announced by

the RBI is a cautious but welcome balancing act. “This should result in lower-ing the cost of borrowing across all sectors of the industry. Should this result

in a drop in housing loan interest rates, it will help revive demand for the realestate industry. We look forward to more demand stimulating measures that

will address the complex issues of supply side constraints and thus help inkeeping inflation under check.”

Mr. David Walker, Executive Director, SARE Homes, says: “The 25 basis point-reduction in therepo rate by the Reserve Bank of India (RBI) is a positive step for the real estate sector. Thismarks the second reduction in the repo rate announced by the apex bank in a span of merelytwo months. As a direct consequence of this revision, banks will be able to offer loans atmore attractive rates. We believe that investors and prospective home buyers will look uponthis move as an indication of now being a suitable time to invest in real estate.”

Mr. David WalkerExecutive Director, SARE Homes

Mr. Prashant Tiwari, CMD, Prateek Group also welcomes the repo rate cut and says the realestate sector requires larger cuts in the repo rate and hopes RBI continues monetary easingin the coming months. "This repo rate cut by the RBI would further reduce the cost of fundsto home buyers as well as developers as it will allow the banks to lower down the interestrates. This will ensure heightened property demand in the coming times. We are happy thatthe apex bank has taken into consideration the liquidity concerns of the sector."

Mr. Prashant TiwariCMD, Prateek Group

What Real Estate Industry says on the RBI’s recent rate cut:

8 lMay 2013

outlook

OBSERVER DAWN

BRYS GroupConquering New Heights

10 lMay 2013

ReAl eStAte

OBSERVER DAWN

the making of BRYS FoRt is also the story of the grit, determinationand unwavering attitude of Mr. Rahul Gaur.

From real estate to advertising, and from hospitality toMedicare, BRYS GROUP is sure to provide stimulatingenvironment as envisioned by its CMD Mr. Rahul Gaur.Prominent among the group companies is its hospi-tality sector wing. With plans to construct landmark

structures all over the nation and the world, early last year itopened its flagship property in Jaisalmer, BRYS FORT which isdrawing rave reviews because of its grand architecture and su-perb facilities.

The making of BRYS FORT is also thestory of the grit, determination and un-wavering attitude of Mr. Rahul Gaur.Under his guidance the companyspared no cost to turn what was once alackluster structure into a stunninghotel, which while donning a modernbody carries deep inside it a soul that’struly medieval. Stay here is like trans-porting yourself back into the times ofmedieval pageantry, pomp and show.

The two other hospitality hubs ofthe company, the first one in the salu-brious environs of Jim Corbett NationalPark called BRYS CAVES and the otherone on Delhi-NCR called BRYS ELAN areslated for their inauguration shortly.BRYS Group is also into advertising(where it is one of the leading names),international trading and import ofmedical care equipment.

Among its latest venture in real es-tate is BRYS BUZZ, a state-of-the-artultra-luxurious tech-savvy apartmentcomplex to be built as per the stringentinternational green norms in Sector 150,Noida. Designed by an internationally

acclaimed architectural firm having its footprints all over theglobe, BRYS BUZZ will make use of latest and most innovativetechnologies to offer a lifestyle that is reserved for the exclusivefew. No doubt these are homes fit for the style icons who arenot only exposed to the world’s best but are also uncompro-mising in their attitude. BRYS GROUP within short span of itsformation has conquered new heights.

The man with indefatigable energy! Someone who is al-ways on lookout for new challenges. These are some of the

traits that define Mr. Rahul Gaur. After taking Gaursons—oneof the leading names in the business of realty—to dizzyingheights, he moved on and established his own group of com-panies. Named BRYS after the initials of his elders it was to be-come a conglomerate with diverse business interests in asvaried fields as it could be.

While sharing his company’s big stride with diversifiedportfolios, Mr. Gaur was optimistic about BRYS Group’s forayinto real estate. “With business interests that includes diverseportfolio the company has made its mark in each and everysphere of its activity in a short span of little more than one year.The Hospitality wing has opened one ultra-luxurious hotel,BRYS FORT, Jaisalmer, while two others are in the pipeline. TheAdvertising arm has already emerged as the leading player andthe Medical Equipment division is creating foothold for itself.However, it is the Realty, which is the hotbed of groundbreak-ing initiative. BRYS Buzz, meant ‘exclusively for the exclusives’that we are planning will not just inspire awe but will be first of its kind in NCR-Delhi,” the dynamic entrepreneur said. n

Hospitality hubs called BRYSelAN are slated for their inauguration shortly. BRYSGroup is also into advertising(where it is one of the leadingnames), international tradingand import of medical careequipment.

mr. rahul gaurCMD, BRYS Group

11OBSERVER DAWNlMay 2013

14 lMay 2013

INteRVIeW

OBSERVER DAWN

excerpts

When did you start your real estate journey?

Buoyed by the success of group housing societies, Istarted Shubhkamna Group in the year 2010 and withina period of six months, two group housing projectswere launched in Noida and Greater Noida. The launchof both the projects was highly successful and morethan 30% of the built up area was sold within onemonth of the launch. This success further encouragedme to launch new projects in a bigger way and in athoroughly professional manner with emphasis on mar-keting and other aspects of branding. At this point oftime, I was looking for a suitable and equally competentpartner to join hands with, so that latest ideas of mar-keting and branding could be introduced in the Company.

While selecting the area mentioned here, what didyou keep in your mind — logistics, infrastructure or demand?

While starting a new development, it is essential thatwe keep all important aspects handy. Being a developerwe need to focus on several major issues before startingany projects.Depending on the area, its demand is acrucial factor that we need to give importance to. RealEstate Development involves the amalgamation of vari-ous processes and aspects such as market and financialanalysis, land acquisition and negotiations, administra-tive-governmental approvals, architectural design, con-struction budgeting, building construction and sitesupervision, project management, marketing and leas-ing, disposition, property and facility management, andtax / accounting etc.

It is OurEndeavor to Provide

mr. diwakar sharmaDirector, Subhkamna-Advert Group

hubhkamna-Advert Group has its genesis in the early years of the present century when Mr. Diwakar Sharma started construction of group housing societies in Noida and Gurgaon. Within a

span of six years, Sharma completed four group housing projects. It goes to the credit of the Group thatthese projects were completed without any cost escalation or time over-run. It is a matter of greatpride for the Group that in one of the projects there was a huge saving which was refunded to theflat-buyers in proportion to the covered area of their flat. This is a unique case in NCR where the sav-

ings in the projected flat cost were refunded to the flat-buyers on completion of the project. Observer Dawn, in a brief conversation with Mr. Diwakar Sharma, Director of the company:

Our Buyers with Projects that Provide them with a Grand Lifestyle.


The projects your company has started… and whenwill these be completed?

At present Shubhkamna- Advert Group have 8 projects inNoida & Greater Noida. Shubhkamna City & ShubhkamnaEpic are the projects exclusively dedicated togovernment/PSU employees.

Real estate outlook is not as rosy as it was and there hasbeen a lot of assessment about its debt and liquiditycrunch. How the funding for projects will be arranged?

We have been selling flats on discount with various incen-tives like free parking or free registration or holding of EMIfor certain period to reduce the overall cost. As a developerwe can feel the change in the market. The crunch is gettingsevere because of guidelines from the Reserve Bank of Indiawhich further tightened the policy of extending loans toreal estate developers because of slow recovery of loans.

Do you agree that the area has potential and requisiteinfrastructure to emerge as yet another epicenter forreal estate activity in NCR?

Noida is a city in India under the management of the NewOkhla Industrial Development Authority. Be it the farmersprotesting for their land or the buyers rebelling against slowconstruction and late possession, Noida's growth as a realestate sector has continued to grow through all thick andthin. Close Proximity to Delhi and enhanced connectivitywith the rest of India through a strong logistic network.Noida has sufficient power supply, good connectivity of fly-overs and convenient means of transportation which auto-matically boost the reality market of the city. Theappreciation in property prices in Noida is 10-20% annuallywhich forces the buyer to invest in Noida. Also GreaterNoida Expressway is a six-lane highway connecting Noida &

Greater Noida. The residential areas in Noida and GreaterNoida are surrounded by green belts and these have beendesigned keeping in mind the modern day consumerswhich are in younger age group.

How do you differentiate your projects from others?

It is our endeavor to provide our buyers with projects thatprovide them with a grand lifestyle. The designs of our proj-ects are of high standards and the rooms are spacious andairy. We construct our projects at prime locations and all ofthem are vastu-compliant. We also use very good qualitytiles in the construction of our projects. We are also in theprocess of introducing the latest technology that is cur-rently there in the market.

Why would investors or buyers go to your project?

Located at the prime location of Sector-137, Shubhkamna-Advert TecHomes has been designed with the future inmind. By ensuring natural environs as also unmatched facili-ties and conveniences, it would be a fine blend of tradition,modernity and exemplary craftsmanship. Surely, it is an ad-dress that carries prestige and the hallmark ofShubhkamna-Advert TecHomes located strategically in Sec-tor-137, Expressway, Noida. Right from employing state-of-

the-art building techniques and furbishing it with latesttechnological gizmos, it is sure to emerge as a premium ad-dress. As per the structure it is Earthquake resistant R.C.C.framed structure in accordance with the latest norms.

Internal wall plastered and painted with pleasing shades of oil-bound distemper or equivalent. Permanentweather coated heat reflective texture paint on externalwalls or equivalent. Glazed/Ceramic tiles up to 7 ft. Height, wash basin, EWC, towel rail and other accessories intoilets. Pre-polished granite platform with stainless steelsink, dado up to 2”-0” height above platform in ceramicglazed tiles. n

FACT SHEETCompany Name : Shubhkamna Advert GroupProject Name : Shubhkamna-TecHomesArea of Projects : 22565 sq. mtr.No of units is to be built : 650Type of Unite : Residential

AREA OF UNITS

Type A : 995 Sq.FtType B : 1185 Sq.FtType C1 : 1500 Sq.FtType C2 : 1500 Sq.FtType D : 1750 Sq.FtType E : 1880 Sq.FtType F : 2195 Sq.FtBasic Price : Basic Sale Price :

Rs25/- Per sq. ft.Approximate Date of : March 2014possession

ONGOING PROJECTS8 Shubhkamna TecHomes : by March 2014

8 Shubhkamna-Loginn : by March 2014

8 Shubhkamna-Livia : by August 2015

8 Shubhkamna City : by August 2015

8 Shubhkamna Epic : by October 2015

8 Shubhkamna Monarch : by October 2015

8 Shubhkamna Legend : Construction under planning stage

8 Shubhkamna Valley : Construction under planning stage

When did you start your real estate journey?

BCC Builders is the leading name in housing townships andindependent housing projects in Delhi and NCR region. Wehave started our journey in the year 1980. The BCC group hasshaped the nation's skyline both in terms of residential andcommercial properties in Delhi & NCR region. We are basedout of Delhi and have about 6.5 million sq.ft. of under devel-opment projects, and 2.5 million sq.ft. area has been alreadydeveloped in our portfolio. As a leading developer, in our last30 years, we have successfully completed our promises withquality construction across our all projects.

While selecting the area mentioned here, what did youkeep your mind — logistics, infrastructure or demand?

Site selection is process which is taken forward after keepingmany things in mind. Location, investment benefits, back-ground everything need to be considered. BCC group is astrong, multifaceted, multi-disciplinary and vibrant organiza-tion. We have expertise in residential development servicesand have delivered about 50 projects including prestigiousBHARAT RESIDENCY, BHARAT APARTMENTS and NBCC Town(A JV between NBCC and BCC) and many more. While in the

Quality, Trust, Innovationand Customer Sensitivity

mr. kumar BharatDirector, BCC Infrastructure Bharat City

BCC Group isCommittedto Deliver

ontinuing its effort, Observer Dawn has been doing comprehensive story on the ongoing proj-ects and highlight steps taken by some of the prominent developers. Observer Dawn’s teamtalked to Mr. Kumar Bharat, Director, BCC Infrastructures on a slew of issues to get an overall

perspective of his company’s role in realty’s growth.

—Mr. Kumar Bharat, Director, BCC Infrastructure Bharat City


INteRVIeW

beginning of development we paid attention to the demand tha-tiv particular section ask for and also the contractors we are hiringbut we are doing our second phase of construction with PrecastTechnology.

The projects your company has started… and when willthese be completed?

BCC Infrastructures started Bharat city in October 2011 and itscompletion date is 2016-2017.

The group has entered into strategic alliances with established in-dustry giants to cater to people in a larger way. BCC group is com-mitted to deliver quality, trust, innovation and customersensitivity. We deliver on promised with agility, financial pru-dence and meeting the highest global standard. The ongoingproject of BCC Infrastructure is Bharat City.

Real estate outlook is not as rosy as it was and there hasbeen a lot of assessment about its debt and liquidity crunch.How the funding for projects will be arranged?

With the financial crisis wiping out property values, the chal-lenges faced by real estate industry are greater than they havebeen in decades. We are in an environment where people under-stand the basics of real estate, the bricks and mortar, so it becomecrucial for developer to give whole and sole information and sat-isfaction to end consumer. In Bharat City, HDFC PMS a crediblepartner to them. PMS Portfolio Management Services is an exclu-sive offering from the portfolio management division of HDFCAsset Management Ltd. HDFC PMS is one of the biggest in India.Therefore funding is not an issue.

Do you agree that the area has potential and requisite infra-structure to emerge as yet another epicenter for real estateactivity in NCR?

Ghaziabad is considered as a new hub for real estate sector. It ison the road to Haridwar, Uttarakhand and Garh Ganga which as-pires the tourists to halt here, who are travelling to visit these des-tinations. Building of several new roads such as Eastern PeripheralRoad, from Ghaziabad to Loni and widening of Bhopura Road upto Mohan Nagar which initiates the activity is these areas. In-creased emphasis on transportation via metro is another featurewhich will give Ghaziabad a new face.

How do you differentiate your projects from others?

25 years of specialization in AFFORDABLE HOUSING by BCC Infra-structures. In today’s picture every buyer or investor look for cred-ibility before investing in any hosing project. We at Bharat city canproudly say that HDFC PMS is our partner. We always believe inphilosophy of “People First”, which makes our end users as ourpriority. We believe in building homes around people by under-standing their need and environment.

Why would investors or buyers go to your project?

Designed as a vital urban center, Bharat City offers the widestrange of activities for everyone. Residents will have convenientaccess to schools, healthcare facilities, cultural activities, athleticvenues, shopping and entertainment facilities. All coupled withthe Bharat Club, Cricket practice pitch, Multi cuisine restaurant,Convenient shopping, Hyper market, large open playing area,Senior citizen park, Sports complex, Jogging track, Sand pit, Am-phitheater, Swimming pool, Tennis court, Badminton court, Bas-ketball & Volleyball court. In fact Bharat City is the only complexproviding night sports complex in India. n

UNIqUE FEATURES1. BCC Group is a proud partner of Germany's leading precast construc-

tion company WECKENMANN.2. Phase 2 BHARAT CITY will be designed by Finland one of the best struc-

tural architect company. They are going to apply 5 star rating for ecofriendly construction, stronger, safer, more life of these buildings,more carpet area & the biggest advantage is TIME.

3. The land is free hold in the name of developer BCC Infrastructures Ltd.4. The flat will be registered in the name of flat owner. The developer

will enter into an agreement with the buyer hence no lease system5. HDFC PMS a credible partner6. 25 years of specialization in AFFORDABLE HOUSING by BCC Infrastruc-

tures7. BCC Infrastructures is a partner to NBCC (National Buildings Construc-

tion Corporation) scheme of Government of India.

Company Name : BCC Infrastructures Pvt LtdProject Name : Bharat CityArea of Projects : 60 Acres project in GhaziabadNo of unites is to be built : 5000Type of Unite : 2 BHK, 3 BHK, 4BHKArea Of units : 940, 965, 1120, 1200 sq. ft.

(Available variations in 2 BHK)1265, 1290, 1520, 1550 sq. ft.(available options in 3 BHK)2586 sq. ft. (available in 4 BHK)

Basic Price : 27 lakh onwardsApproximate Date of : First phase complete possession possession in September 2014

FACT SHEET


FACT SHEETCompany Name : VIBHOR VAIBHAV

INFRAHOME PVT. LTD.Project Name : VVIP ADDRESSES,

VVIP HOMES, UPCOMING VVIP STYLE

No of units is to : 3500 unitsbe built

Type of Unite : 2 BHK, 2 BHK, 4 BHK, DUPLEX

Area of units : 935 sq.ft. to 6300 sq.ft.Basic Price : Rs. 3100/ sq.ft. Approximate : Dec 2013Date of possession

mr. Praveen TyagiCMD, VVIP Group

22 lMay 2013

INteRVIeW

OBSERVER DAWN

VVIP Group AlwaysFocused on Qualityof Construction andTimely Possession

—Mr. Praveen Tyagi, CMD,Vibhor Vaibhav Infrahome Pvt. Ltd.

n a formal interview, Observer Dawn has a freewheeling conversation with Praveen Tyagi whoshares about his company’s projects and its contribution in real estate development in the NCR.


When did you start your real estate journey?In year 2010.

While selecting the area mentioned here, what didyou keep your mind — logistics, infrastructure or demand?

All three are very important but Infrastructure and Demand are always on priority.

The projects your company has started… and whenwill these be completed?VVIP ADDRESSES, Raj Nagar Extn.started in Jan. 2011Completion in Dec-2013 VVIP HOMES Greater Noida inJan. 2013 Completion Date is Dec-2015….. VVIP STYLE-Upcoming Project.

Real estate outlook is not as rosy as it was and therehas been a lot of assessment about its debt and liq-uidity crunch. How the funding for projects will bearranged?VVIP enjoys a strong balance sheet and funding is not an issue with the group. Moreover, the high |volume of sales do compliment with the fund line of the project.

Do you agree that the area has potential and requi-site infrastructure to emerge as yet another epicen-ter for real estate activity in NCR?

The project location is centrally located and the both theproject i-e VVIP ADDRESSES &VVIP HOMES enjoys a su-perb and convenient connectivity from Delhi NCR whiletaking the advantage of strategic location. Move over, theexternal infrastructure activities of the local authoritieslike GDA,GNDA do help us and our customer to enjoy thebasic peace of comfort. We are dedicated and committedto provide an exceptional living to all our esteemed cus-tomers, to name a few, Cricket stadium, Theme-baseFountains, Big Parks, Double Basement Car Parking, WorldClass 7 Stories Club, 80% Green Area, High Security Sys-tem, FTTH concept, deployment of Garbage Chute &Podium-based concept are some of the few featureswhich generates confidence among our customers forearning a delightful, peaceful, and luxurious life style.

How do you differentiate your projects from others?Right from the inception, VVIP Group always focused onquality of construction and timely possession, we havemaintained that pace, and now we are ready for posses-sion in couple of months.

The kind of amenities that we are offering, covers Secu-rity, Platinum Club with world class facilities, 100% PowerBack Up, Maximum green area, exclusive Cricket Stadium,Exclusive Podium Concept.We always want our residentto live like a VVIP in VVIP Addresses, to ensure this wehave added a modern amenity- “Garbage Chutes”. Thiswill ensure an odorless staircase corridor, lifts and a hy-gienic environment. n

eXcerPTs

According to global real estate consultant, Cushman & Wakefield, Office absorption in India drops 37% over same period last year.


outlook

Office markets in India register a downward trendin absorptionaccording to the latest report byGlobal Real Estate consultants, Cushman & Wake-field. The total net absorption across top eightcities was noted at 3.6 million square feet (msf )

in the first quarter of 2013 which denoted a decline of 37%compared to the same quarter last year.However, fresh supplyregistered an increase of 18% y-o-y and was recorded at7.9msf.Vacancy rates at the end of Q1 2013 were noted at

19.6%, representing a rise of 3% from the same quarter lastyear. Highest net absorptionwas noted in Pune that also sawan exceptional increase of 30% compared to Q12012. Ben-galuru and Chennai saw a significant decline in net absorptionlevels followed by Mumbai and Hyderabad.Slower economic growth led to a decline in expansion by com-panies as cautious sentiments continued through thequarter.Pune saw the highest net absorption of 842,000 sf fol-lowed by Mumbai and NCRthat saw approximately 810,000 sfand 775,000 sf of net absorption during the quarter. Pre-com-mitments during the quarter were registered at approxi-mately515,000 sf restricted only to Mumbai and Pune.

Sanjay Dutt, Executive Managing Director, South Asia,Cushman & Wakefield,said, “As predicted by Cushman &Wake-field, the first half of 2013 was no different from that in 2012which recorded slow activity levels. Corporate are cautious,the economic slowdown in global markets continues to af-fect global markets. Added to this, are the domestic senti-ments, which are affected by active political conundrum inthe run up to the 2014 general elections. Further, the UnionBudget for 2013-14 had very little for corporates on thewhole, especially the IT/ITeS and BFSI sector, which hasput many companies into watchful mode. However, sec-ond half of 2013 is expected to witness an increase in ac-tivity which is expected to match the activity levels of2012.”

Dutt further added, “Given the current subdued

Ahmedabad 0 0.95 NA 0.10 0.19 90% 15.2%

Bengaluru 1.06 1.58 49% 1.35 0.23 -83% 14.7%

Chennai 0.95 0.37 -61% 0.65 0.13 -80% 15.9%

Hyderabad 0.49 0.018 -96% 0.63 0.45 -29% 19.2%

Kolkata 0.57 0.71 25% 0.28 0.17 -39% 22.8%

Mumbai 1.43 1.65 15% 1.29 0.81 -38% 20.10%

NCR 1.61 1.98 23% 0.77 0.77 0% 28.30%

Pune 0.58 0.64 9% 0.65 0.84 30% 22.10%

TOTAL 6.7 7.9 18% 5.7 3.6 -37% 19.64%

City Supply Supply %Age Change Absorption Absorption % Age Change Vacancyq 1 q 1 in Supply q 1 q 1 in absorption q 1

2012 2013 q1 2012 2012 2013 q1 2012 q1 2013q1 2013 q1 2013



outlook

economic conditions, most occupiersare cautious and have been concentrat-ing on how to leverage current officesupply to their advantage and reducereal estate cost from medium to longterm perspective whilesimultaneouslyfocusing on increasing the efficiency oftheir existing office spaces, alternateworkplace strategy with remote or flex-ible work stations or hours.”

IT/ BPO driven markets of Chennaiand Hyderabad registered a decline inleasing activities in Q1 2013 over thesame period last year due to the cau-tious approach. However, it was strikingto note that Bengaluru, which has tradi-tionally contributed in large quantum tothe total office space leasing, saw a de-cline of 83% in Q1 2013 over same timelast year in the wake of lower quantumof space take-ups. Companies, primarilyfrom IT/ITeS sector, vacated officespaces in locations of CBD and Subur-ban regions to relocate and consolidatein peripheral areas due to availability ofcost effective options. Even while theactual number of deals in Q1 2013 weremore in comparison to that in Q1 2012,average deal size was significantly lowerat approximately 25,000 square feet(sf ),with very few deals above 100,000sf.

The developers on the other handare looking for different strategies topromote lease and sale in a highly com-petitive environment. Some of the focusareas are branded office developments,while some are going back to strata sale

and smaller units to attract investors orsmall and medium companies.

National Capital Region(Delhi-NCR)Due to industry-wide conservative sen-timents, the leasing activity remainedsubdued during this quarter. The totalnet absorption was noted at 774,957square feet (sf ), at a similar level to thecorresponding quarter last year. Thiswas mainly due to instances of reloca-tion and consolidation, which ac-counted for 20% of the total netabsorption. IT/ITeS continued to be themajor contributor in absorption. Thefirst quarter of the year registered a totalsupply of 1.9 million square feet (msf ), ayear-on-year increase of approximately23%.. There was no supply in SEZs dur-ing the quarter. Overall Grade A vacancyrates witnessed a year-on-year increaseof 5% due to the addition of new sup-ply. The demand for office space is ex-

pected to remain moderate in the nextquarter due to cautious expansion plansby occupiers. Approximately 6.3 msf ofGrade A supply is expected in the sec-ond quarter of 2013, of which 3.7 msf isexpected in Gurgaon and 1.8 msf is ex-pected in Noida. As a result, the vacancylevels in Gurgaon and Noida micro mar-ket are expected to increase and putpressure on the rental values. Investorssee this upside as an opportunity andtherefore are looking to invest in readyvacant or leased office properties.

BengaluruThe overall net absorption in Bengaluruwas recorded at 234,570 square feet (sf ),denoting a drop of 83% over Q1.TheIT/BPO sector continued to domi-nate the transaction activity followed byEngineering and Consulting. Bengalururecorded a supply of approximately 1.6msf of commercial office space of which45% was in SEZs.Supply increased byapproximately 50% over the same quar-ter last year demonstrating confidenceof the developers in the fundamentalsof the IT& ITES sector and local econ-omy.The overall vacancy was recordedat 14.7% up by at the end of Q1 2013.With the exception of CBD / Off CBD lo-cations that recorded a 5% drop, rentalvalues remained in similar ranges com-pared to last quarter. With an estimatedsupply of around 5 msf in the next quar-ter, vacancy levels are anticipated to seea rise. Going forward, rentals might con-tinue to remain stable. However, theoverall leasing terms are expected toturn in favor of the occupiers.

ChennaiThe overall leasing activity in the firstquarter remained slow in the wake of

As a result, the vacancy levels in Gurgaon andNoida micro market are expected to increase andput pressure on the rental values. Investors seethis upside as an opportunity and therefore arelooking to invest in ready vacant or leased officeproperties.


cautious expansion plan of occupiers. Afew companies relocating to othermicro markets and overall net absorp-tion was recorded at only 131,412 sf, adrop of around 80% from Q1 2012.IT/BPO sector continued to be thelargest contributor in absorption fol-lowed by the BFSI sector. The first quar-ter witnessed a total supply ofapproximately 950,000 sf, registering adecline of 61% over 1Q 2012. The over-all vacancy level witnessed marginal in-crease of 0.3% and was 15.9% from theprevious quarter. The rental valuesacross the city exhibited a stable trend.However, weighted average rentals inthe Peripheral-GST micro market de-clined as leasing activity was slow be-cause occupiers preferred to be locatedin the Suburban-Guindy. Consequently,Suburban-Guindy registered a rise inweighted average rentals with freshsupply entering the market at higherrentals. Slowdown in leasing activity isexpected to continue in the secondquarter due to prevailing cautious ex-pansion sentiments. Going forward,rentals are expected to register a stabletrend.

HyderabadThe commercial office market of Hyder-abad witnessed a slowdown in leasingactivity in Q1 2013 due to the overallweak economic conditions and cau-tious approach of major IT companiesin the city in terms of their expansionplans. The net absorption was recordedat approximately 450,000 sf in Q1 2013,nearly 29% lower than in Q1 2012. Ma-jority of the net absorption was wit-nessed in the peripheral location ofPocharam (40%) followed by suburbanlocations of Madhapur and Gachibowli(28%). Companies preferred taking upsmall spaces as many small size deals inthe range of 5,000 – 15,000 sf were exe-cuted in the suburban micro marketduring the quarter. There were no pre-commitments recorded due to the cau-tious approach of companies.Construction delays in some projectsled to a very low supply in this quarterwith only one building admeasuring18,000 sf becoming available as against490,000 sf in Q1 2012. The office marketcontinued to witness shortage of GradeA space as there was no Grade A supplyfor the third consecutive quarter. Over-

all vacancy reduced from 20% to 19%over the quarter due to the lack of sig-nificant supply and moderate transac-tion activity. The rental values remainedstable across all the micro markets com-pared to the last quarter. However,there was a marginal appreciation inrental values in the range of 2-7% inmost of the micromarkets in compari-son to Q1 2012.The leasing activity inHyderabad is likely to gain momentumin the next 6-9 months with improve-ment in economic conditions and mar-ket sentiments.

MumbaiMumbai witnessed a net absorption of809,543 square feet (sf ), registering adecline of 37.5% compared to the firstquarter of 2012. The market is largelydrive by the BFSI sector contributing21% to overall absorption followed bythe IT/BPO (18%) and FMCG (15%). Ab-sorption during the quarter was con-centrated in suburban and peripheralmicro-markets of Andheri-Kurla (18%),Thane-Belapur Road (17%), Powai (15%)and the SBD (15%). Companies in thepharmaceutical and chemical sectors

aiming to expand and consolidate oper-ations have pre-committed space ofaround 383,000 sf in developmentsnearing completion. The first quarterwitnessed a Grade A supply of 1.61 mil-lion square feet (msf ) registering an in-crease of 15.3% compared to the firstquarter of 2012. With a majority of sup-ply being in the form of IT develop-ments, the share of commercial space inoverall supply continued to remain low.The high supply has resulted in vacancylevels increasing to 21.9% for Grade Adevelopments. However, rentals contin-ued to remain stable on the back ofsteady transaction activity and healthyenquiries. Absorption for the upcomingquarter is expected to remain moderateand as a result rental values are likely tobe under pressure with rise in availabil-ities. Attractive rental and capital valuescontinue to attract lot of corporate andinvestors to purchase properties inMumbai.

PuneDuring the first quarter of 2013, Punewitnessed supply of 637,000 sf of which94% was in IT SEZ developments in Hin-jewadi (Rajiv Gandhi Infotech Park - Pe-ripheral I). In comparison to Q1 2012,net absorption increased by over 30% asa number of deals spilled over from lastyear and were closed in the beginningof 2013.The city sawthe highest net ab-sorption of over 840,000 sf.Pre-commit-ments during the quarter were noted at132,000 sf mainly driven by Pharmaceu-

tical & Healthcare, BFSI and Consultingsectors. Space take-up by many small-sized occupiers, primarily in the Grade Bdevelopments, drove the net absorp-tion during the quarter. Whilst theweighted average rentals in the sub-markets of Suburban – West, ExtendedSuburban and Off-CBD – II, witnessed aquarterly increase in the range of 5-8%,the CBD recorded a marginal pressure inthe rentals owing to the persistent highvacancy rate. During the next quarter,nearly 3.12 msf of supply is likely to be-come operational, thereby increasingthe city vacancy rate even further. De-spite the upcoming supply, rentals arelikely to remain in range-bound. Owingto increase in number of consolidationand expansion enquiries, incrementalincrease in absorption is likely.

AhmedabadAhmedabad witnessed net absorptionof 189,555 square feet (sf ) during thefirst quarter of 2013, an increase ofnearly 90% compared to the first quar-ter of 2012. Some companies expandedand relocated their operations to betterquality spaces offering attractive rentals.Absorption during the quarter wasevenly distributed in Praladnagar andS.G. Highway. Pharmaceutical compa-nies had a share of close to 26% in over-all absorption followed by tradingcompanies. Supply of Grade A spaceduring the quarter stood at 866,000 sf,a substantial increase compared to thefirst quarter of 2012, which had no sup-

ply. Additionally, 80,000 sf of Grade Bspace also became operational atPrahladnagar. The first commercialtower at GIFT city admeasuring 700,000sf became operational during the quar-ter. The large quantum of Grade A sup-ply has resulted in vacancy levelsincreasing to 34.5%. This has resulted inrental values in the key micro-marketsof S.G. Highway and Prahladnagar de-clining by 6% and 3% respectively.

KolkataKolkata saw net absorption of approxi-mately173.000 sf which is around 40%lower compared to last year same quar-ter. On the other hand, supply increasedby 25% and was noted at approximately720,000 sf, majorly concentrated at Ra-jarhat and Salt Lake. As a result, overallvacancy level increased to 22.8% at theend of first quarter. Rentals across mostmicro markets remained stable, how-ever Rashbehari Connector witnessed asignificant increase on account of the in-fusion of new supply at higher rentsduring the quarter.In the coming quar-ters the rentals are expected to increasefurther in CBD and select locations in SBD such as RashbehariConnector due to demand for quality space. On the other hand, theperipheral locations such as Salt lakeand Rajarhat may witness stability inrentals or may see a slight correctiondue to infusion of new supply in thecoming quarters. n

30 lMay 2013

outlook

OBSERVER DAWN

31

AHMEDABAD

C.G.Road 39 0% 3% STABLEAshram Road 35 0% 1% STABLESatellite Road 34 0% 1% STABLE

BENGALURU

CBD/Off CBD 81 -5% -5% STABLESuburban** 69 -1% 6% STABLEEast (Whitefield) 38 1% NA STABLESouth (Electronic City 40 -1% NA STABLEand Peripheral areas of Hosur Road, Mysore Road)Peripheral (Outer Ring 53 0% 4% STABLERoad and Adjoining areas)

CHENNAI

CBD - Anna Salai, 68 0% -2% STABLERK Salai (IT space)Off CBD- (T.Nagar, 61 7% 2% STABLEAlwarpet) (Corporate)Suburban (Guindy) 54 11% 2% STABLESuburban (Ambattur) 26 0% 4% STABLESuburban 42 -1% 2% STABLE(Perungudi-Taramani)Peripheral 29 1% -2% STABLE(Rajiv Gandhi Salai)Peripheral - GST 27 -17% -17% STABLE

HYDERABAD

CBD (Banjara Hills 49 0% 8% STABLERoad No. 1, 2, 10 & 12)Off CBD (Begumpet, 44 0% -5% STABLESomajiguda, Raj Bhavan Road, SP Road)Prime Suburban (Rest 49 1% -2% STABLEof Banjara Hills, Jubilee Hills)Suburban (Madhapur, 40 0% 1% STABLEGachibowli- Nanakramguda, Manikonda & Raidurg)Peripheral I (Pocharam, 25 0% 0% STABLEShamshabad)MUMBAISouth 225 2% 0% STABLE(CBD-Nariman Point)Suburban 200 0% 5% STABLE(Bandra-Kurla)Thane Belapur 35 0% 1% STABLERoad Non ITThane - IT 35 0% 1% STABLENCRCBD Prime 231 2% 5% UPGurgaon - CBD 84 2% 8% UPGurgaon Others 65 7% 12% UPNoida 46 2% 9% STABLEPUNEOff CBD (Yerwada, 46 -2% 2% STABLEKalyani Nagar, Airport Road)Suburban East 42 5% 5% STABLEPeripheral I 38 6% 9% STABLEKOLKATAPark Street/ 115 0% 5% UPCamac StreetRash Behari 91 14% 14% UPConnector (Ruby)Salt Lake Corporate 52 -1.5% -4% STABLE

City Weighted Average Rents %Change From(IN INR) OutlookINR/SqFt/M 3 Months ago 6 Months ago


Source: Cushman &Wakefield, Research

The Big Four: Mr. Ram Agrawal -Director , Mr. Suresh Chand Kaushik -Director

32 lMay 2013

COVER STORY

OBSERVER DAWN

Greater Noida West

2/3/4 BEDROOM SPACIOUS APARTMENTS

Mr. Pradeep Kumar Agrawal - MD Mr. Sudeep Kumar Agrawal - Director


SHRI GRoup

fter consolidating the real estate landscape in Mathura and Vrindavanwith landmark projects, SHRI Group is on an expanding spree, venturing into different locations at NCR.

An Innovative and MostTrusted Developer


COVER STORY

When and where was the company founded? Whatprompted the group to diversify? The Group was founded by Late Shri Shri Nath Prasad andLate Shri Jamuna Prasad in 1931 as a commodity tradinghouse with value based business practices, customer ori-ented policies and a commitment to social responsibilities.The visionary businessmen laid a solid foundation of truston which SHRI Group proudly stands today. The Group for-ayed into Petroleum Retailing, Oil Transport Logistics andPackaged Drinking Water.In 1998 the group diversified to Real Estate Developmentwith the vision of Mr. Sudeep Agrawal and today SHRIGroup is Mathura's foremost Real Estate Developer withpresence in Mathura, Vrindavan, Goverdhan and Delhi/NCRregion. For its commitment to offer the best to the clients, ithas won “Developer of the Year, Uttar Pradesh 2013-14”. Its diverse portfolio includesl Integrated townshipsl Group housingl Commercial complexesl Hotels & resortsl 3rd party contractingHow did the group manage to position it as the major real-tor in Mathura and Vrindavan? What are the major proj-ects in these areas?SHRI Group is a multi-diversified group that is following itspolicies and commitments to deliver the best residential aswell as commercial projects to the residents of Mathura andVrindavan region. The group offers best amenities to the in-vestors at economical prices as per their specifications andrequirements. With this, the group has managed to positionitself as a major realtor in Mathura and Vrindavan region. We have successfully delivered numerous projects inMathura and Vrindavan region; some of our projects in-clude:SHRI Jamuna DhamMathura' First Abode of Organised Livingl Residential complex sprawling over 4.83 acresl Well-developed 86 housesl Situated at the main Goverdhan Crossingl 68 independent single and double storeyed villasl Mathura's first Gated Complex with 100% power back upSHRI Radha ValleyThe City of Serenityl Located on the main NH-2, close to the heart of the cityl 60 Acres, 1400 Units on NH 2l Supreme connectivity with old and new Mathural Swimming pools, party halls and shopping centersl Duplex villas, pent houses, high-end apartments,

budget apartments and independent plotsSHRI Radha Brij VasundharaA Resort Spread at the Feet of ‘Goverdhan Parvat’


Mr. Sudeep Kumar AgrawalDirector

l Incredible contentment, absolute ecstasy & endless seren-ity

l Built up area of 26 acres including 248 cottagesl High end recreational & de-stressing facilitiesl Lush green set ups l Club, yoga and meditation servicesl Physical as well as spiritual enlightenment l Swimming pool, well equipped gym, multi cuisine restau-

rant, etc.SHRI Radha NRI GreensEasily The Biggest Real Estate Project in Vrindavanl Built up area of 3.5 lac. sq. ft. with 500 flatsl Ambitious mega project by SHRI Group l Walking distance from both Banke Bihari ji and

Iskcon Temple l Hi-rise building at VrindavanAcquiring a land has been the greatest hurdle for any devel-oper across the nation and the problem is more glaring inand around Delhi. How did the group manage it?SHRI Group has successfully managed to acquire land in andaround Delhi with our strong pillars, Mr. Suresh ChandKaushik, Director-Administration and Mr.Ram Agrawal,Direc-tor -Sales & Marketing. With a vast experience of Mr. SureshChand Kaushik in Public Relations and excellent marketingskills of Mr. Ram Agrawal, the group has been able to form itsfootsteps in Mathura and Vrindavan region and are nowdwelling their roots in Delhi/NCR. Mr. Ram Agrawal involves himself in the areas of identificationof land, land acquisition, government approval and marketingthat helps the group in the acquisition of the land. Now, you are establishing your footprints in Delhi-NCR andhave already forayed into Noida-Greater Noida. In a com-petitive market, where several developers are fighting forspace, how is SHRI Group prepared?SHRI Group has successfully formed its footprints in Mathuraand Vrindavan region by gaining the trust of more than 7500families, we are creating a new lifestyle for the residents ofDelhi/ NCR region. The vision of the group being spacious,luxurious and enriched apartments is offered to the esteemedclients in the vicinity. The main aim of the group is to gain the loyalty of our cus-tomers by delivering more cost effective projects. With com-plete customer satisfaction as our vision, we are prepared tomeet the challenges of the real estate industry. As a growing company, SHRI Group is aware of the bottle-necks and challenges for the real estate industry. How doesit cope up with these hurdles?SHRI Group has been working effortlessly to offer spacious liv-ing environment to their clients. With our utter determinationand complete dedication in the working methodology, we areable to cope up with the challenges of the real estate industry.Also, we are able to fulfil our commitment of offering a mod-ern lifestyle at economic prices.

36 lMay 2013

COVER STORY

OBSERVER DAWN

Mr. Pradeep Kumar AgrawalManaging Director

Yes, we are surely hoping for an improvement. It is becauseof the fact that each and every investor before making aproperty investment, analyses each and every aspect of thereal estate industry and we are offering spacious and luxuri-ous apartments at economical prices in the vicinity. Also,best facilities and architecture is offered, so that the resi-dents can experience a better lifestyle. All the apartmentshave been meticulously designed and built to ensure a har-monious lifestyle in Greater Noida West.

SHRI Group is bringing in new projects in the housing seg-ment. Kindly, share with us about the projects, their time lineand base price.SHRI Group offers SHRI Radha SkyGardens in Greater NoidaWest that provides you a pure living experience in lavishgreen surroundings, meticulously designed and built to en-sure a harmonious lifestyle. Architecture is designed by theformidable architect Hafeez Contractor and construction

SHRI Group has

successfully formed its

footprints in Mathura and

Vrindavan region by

gaining the trust of more

than 7500 families, and

now we are creating a

new lifestyle for the

residents of Delhi/

NCR region.


plan is by SLM & BCON and landscape for the first time inIndia by LSG International Consultants. Our perfectly de-signed apartments provide the residents with ultimate con-temporary living. The project would be delivered in December, 2015. The base price of SHRI Radha SkyGardens is Rs. 2992 per sq.ft..

For a branded company like yours, a professionally-man-aged organization is the requisite part. Share with us ashort brief about management and their expertise.The expert professionals working in our organisation havedeep and broad real estate knowledge and experience,which allows us to offer best residential as well as commer-cial projects to our esteemed clients spread across theglobe. All the professionals are the pioneers of the real es-tate, who hold expertise in their domain. This has helped usin meeting the specifications and requirements of our es-teemed clients. Our ManagementMr. Pradeep Kumar Agrawal, Managing DirectorHe is a visionary in the true sense of the word- with a visionthat transcends all the boundaries and all conventionalbusiness principles. He is carrying forward the legacy of hisancestors by truly upholding the core values of the familybusiness. Under his astute leadership, this 80 years oldgroup has emerged as a diversified conglomerate with theinterests in housing, infrastructure development, petroleumtrading, packaged drinking water etc. He built his businessmodel on the principles of ethics, spirituality and trans-

38 lMay 2013

COVER STORY

OBSERVER DAWN

Mr. Suresh Chand KaushikDirector

The Group has

successfully

managed to acquire

land in and around

Delhi with our strong

pillars, Mr. Suresh

Chand Kaushik,

Director and Mr.Ram

Agrawal, Director

parency. He is a leading light to the industrialists in andaround Agra-Mathura region, who others look up to. He isalso associated with a number of social, educational andreligious bodies and continues to serve the society in hisinimitable style.Mr. Sudeep Kumar Agrawal, DirectorHe has been associated with the Group for the past 25years and currently looks after conceptualization and plan-ning of the Projects. He brings in a complete dynamism tothe table and inspires the team members to achieve evenimpossible things. His proactive, intense and personalizedapproach to the business, along with his entrepreneurialskills and innovative ways to do the business are the maincatalysts to the growth of the group. With his analyticaland strategic thinking, he monitors and analyses sales andmarketing activity against goals. Also, he is able to createand sustain a dynamic environment that fosters the devel-opment opportunities and motivates high performanceamongst all the team members.His long term association with the company has helped in shaping the development of the organisation’s policies. Also, it has helped to improve processes and establish organisation-wide priorities including perform-ance review, strategic planning, budget setting and management information. Mr. Suresh Chand Kaushik, DirectorHe holds a Bachelor's Degree in Commerce and has over30 years of experience in Trade and Real Estate Business.His areas of interest are Public Relations and MarketingManagement. Developing relationships with the cus-tomers and senior stake holders with equal ease in his ownaffable style is his strength. He is a well-known person inthe real estate circles of North India. Being a proactive team player with good mentoring skills,he is able to develop new business opportunities. With hisstrong media relations, he is able to implement originaland high quality communications and thought leadershipcampaigns, which meet the objectives of the company. Mr. Ram Agrawal, Director He holds a Bachelor's degree in Commerce & Law and hasover 15 years of experience in Real Estate Industry. He in-volves himself in the areas of Identification of Land, LandAcquisition, Government Approval and Marketing. He hasexcellent Public Relation Skills and is a leading personalityin the Real Estate Business.Mr. Shekhar Agrawal, DirectorHe holds a Master's degree in Business Administration andlooks after Sales and Marketing activities of the group. He brings in his innovative ideas and exuberance to the Group.Mr. Harish Aurora, Director He is a coveted Engineer with more than 2 decades of ex-perience in the areas of Operations, Marketing, Brandingand Business Development. He brings in his unique


Mr. Ram AgrawalDirector

qualities of 'eye for the details' and 'razor sharp observa-tions' to the table and is a very valuable team member ofthe group.Mr. Amit Handa, Executive DirectorHe is a young and energetic marketing expert and a well-known name in the real estate sector and has made a sig-nificant contribution in increasing the market share. Hehas excellent communication skills and he brings in inno-vative ideas in marketing and takes complete responsi-bility of the sales function.Mr. D.K. Mahle, VP- Admin. & HRHe has more than 40 years of experience. He has workedat a senior level in Uttar Pradesh Finance Corporation(UPFC) and used to look after Finance, Legal Projects andoverall Human Resources & Administrative issues.

To what extent does SHRI Group help in propelling resi-dential and commercial realty?In this unorganized sector of the real estate, SHRI Groupis strictly following all the policies and corporate workethics with the commitment of delivering the projectswithin the stipulated time frame to the clients all acrossthe globe. SHRI Group is following its policy- “What wecommit is what we deliver.”SHRI Group has successfully delivered varied residentialas well as commercial projects that include SHRI RadhaNRI Greens-Vrindavan, SHRI Radha Brij Vasundhara-Goverdhan, SHRI Jamuna Dham-Mathura, SHRI Group'sHighway Plaza NH-2, Delhi-Agra road and many more. SHRI Group's Highway Plaza is the first operational retaildestination on NH-2and an innovative concept of an in-tegrated shopping, eating and entertainment hub builton an inter-state highway; a concept that has been intro-duced in India by SHRI Group.

How much emphasis does the company place on archi-tectural excellence, innovative technologies and designin its projects?SHRI Group offers a desirable mix of stylish design andtrue individuality with a choice of different types of Apart-ments, Integrated Townships, Group Housing, CommercialComplexes, Hotels and Resorts. The apartments are mas-terly built to ensure that life is supremely comfortable.The projects have been designed to make the residentshave a feel of the fresh depth of Mother Nature. All theprojects have been designed by renowned architects ofthe country. SHRI Radha Brij Vasundhara is spread at the feet of"Goverdhan Parvat”. It includes luxurious cottages, highend recreational & de-stressing facilities, lush green setups, yoga and meditation services for physical as well asspiritual enlightenment, and much more. SHRI Group's Highway Plaza is the first operational retaildestination on NH-2 and an innovative concept of an in-

40 lMay 2013

COVER STORY

OBSERVER DAWN

Mr. Shekhar AgrawalDirector

tegrated shopping, eating and entertainment hub builton an inter-state highway; a concept that has been intro-duced in India by SHRI Group.Our new project, SHRI Radha SkyGardens, has been meticulously designed by the formidable architect Hafeez Contractor. The apartments have bay windows,large balconies and terrace garden to have a feel of nature. This has been done to offer pure and serene liv-ing experience in lavish green surroundings.

SHRI Group is expanding its realty arm and aims atpan-India presence. What are the specific locationswhere the company is targeting?SHRI Group has successfully delivered more than 7500homes in Mathura and Vrindavan region. Now, it is un-veiling its new project, SHRI Radha SkyGardens, inGreater Noida West. Also, SHRI Group is dealing with vari-ous stages of land acquisitions in Mathura, Noida, Delhi,Gurgaon, Pune, Baroda, etc. with a view to set a specialtrend in providing integrated real estate projects.Also, kindly share with us some interesting and inspiringfaces of SHRI Group’s landmark projects launched in thepast.SHRI Group is a legendary name and renowned for itsworld class real estate projects. Some of our glorious realestate projects include residential projects, shopping


SHRI Group has

successfully delivered

varied residential as well

as commercial projects

that include SHRI Radha

NRI Greens-Vrindavan,

SHRI Radha Brij Vasund-

hara-Goverdhan, SHRI

Jamuna Dham-Mathura,

SHRI Group's Highway

Plaza NH-2, Delhi-Agra

road and many more.

Mr. Harish AuroraDirector

malls, luxurious cottages, farm houses, ultra-modern retail desti-nations, high end concept townships, highway plazas and manymore.Are any other residential and commercial projects in thepipeline? What are their delivery time and how much workhas been done?

After successfully delivering residential projects, shoppingmalls, luxurious cottages, farm houses, ultra-modern retail des-tinations, high end concept townships, highway plazas andmany more in Mathura and Vrindavan region, SHRI Group isunveiling its new project, SHRI Radha SkyGardens in GreaterNoida West.

USP of SHRI Radha SkyGardens:l Most spacious apartments in the vicinity.l Balconies in every room for open living.l Perfect blend of luxurious style statement and fine

interiors for ensuring pleasant and enjoyable life.l Surrounded by over 80% of greenery for a healthier life

style. l Proposed metro connectivity right in front of the

project.l Located on the most approachable and one of the widest

roads in India (130 meters wide).l Premium plot with 3-side roads.The construction of the project is in full swing and it would besuccessfully delivered in December, 2015. n


COVER STORY

Mr. D.K MahleVP- Admin. & HR

Mr. Amit HandaExecutive Director

Research on the effects of music on learning hasbeen in progress for decades. The results haveshown that the children who received musical in-struction excelled above their peers in memoryskills as well as 'nonmusical' abilities such as liter-

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The Sensational CurriculamMUSICA INDIA is the one and only music school in the city tobe associated with a professional music body called YamahaMusic Mates: a progressive music school that provides relevantand updated music education for its students. At MUSICAINDIA, students are given the opportunity to learn music in a

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Top Notch Faculty & Infrastructure The teaching staff at MUSICA INDIA are seasoned professionals:educated instructors, experienced musicians, songwriters andstudio engineers. MUSICA INDIA houses the finest facilities,with equipments sourced directly from Yamaha.

Affordable – In Everyone’s ReachThe organised and structural music lessons at MUSICA INDIAare available to the enthusiasts without having tospend a great deal! For more details on our programs, please visit www.musicaindia.in Like our facebook page for excitingdeals @ facebook.com/MusicaIndia or Call us at +91 99 99 346 993, 9711303417 or Mail us at:[email protected]

Can drum lessons after school help Rohan breeze throughhis homework?Will Sonal's piano lessons help her get an A in math?

Musica India: What

Sets Us Apart?


CAREER

46 lMay 2013

SEminAR

OBSERVER DAWN

A Focus Group Meeting (FGM) on the topic, “To identify issuesrelated to consumer preferences and consumer selection foruse of alternative energy transport” was organized at Inter-national Institute of Health and Management Research,New Delhi.

48 lMay 2013OBSERVER DAWN

The purpose of the Focus Group Meeting wasto get everyone involved in conversation andparticipate actively in discussion. Dr. KailashKumar Mishra welcomed the group membersand thanked them for coming to attend themeeting. Dr. Mishra presented a very brief in-

troduction about the project and introduced the coregroup of researchers associated with the project – Prof.Ajay Kapoor, Smt. Rashmi Kapoor, Prof. Nirupama Prakash,Dr. Richa Minocha and Dr. Kailash Kumar Mishra.

Dr. Mishra informed that this project has been initiatedby the Swinburne Technical University, Australia. Swin-burne is uniquely positioned to make a contribution tothe development of an electric vehicle industry. Swin-burne's electric vehicle group, led by Prof. Ajay Kapoor,has more than 20 academic staff and 25 doctoral students.In India this project is a collaborative venture of Swin-burne Technical University and Jaypee University of Infor-mation Technology (JUIT), Solan, Himachal Pradesh.

The team of researchers is looking at how to create amass market and increase uptake of electric vehicles.

In the past few months the Research Team of Swin-burne University and Jaypee University of InformationTechnology has tried to understand the opinion and pref-erences of consumers and various stakeholders of alter-native energy about the prospectus, problems, and futureof electrical vehicles in India with the help a carefullystructured questionnaire. The team collected data fromthe consumers and interviewed stakeholders in Delhi,Chandigarh, Shimla and Lucknow to determine: 8 Factors driving the use of alternative energy trans-

port, such as noise pollution and environmental pol-lution, cost of petrol and running out of petrol

8 Availability of alternative energy transport, includingthe purchase price, running cost and servicing cost ofsuch vehicles

8 Feasibility of using electric cars and other factors suchas personal preference, range anxiety, children’s influ-ence on environmentally friendly transport, issueswith aging population for use of such cars and genderissues.

The researchers, however, are feeling that the awarenesslevel of people including administrators, policymakers,opinion builders, social animators and common people isnot very encouraging in India. The answers are stereo-typed; they exhibit ignorance and negative approach ofthe people about the electrical vehicles. Some respon-dents are thinking that India is already facing great crisisin getting the electricity, and introduction to electrical ve-hicles will increase this problem. We may not get, in thiscondition, the sufficient electricity supply for our domesticconsumption. Participants who attended and participated in the meet-ing are:l Prof. Ravi Prakash, Vice Chancellor, Jaypee University

of Information Technology (JUIT), Waknaghat P.ODistrict Solan (Himachal Pradesh)

l Prof. Nirupama Prakash, Head, Department of Hu-manities & Social Sciences; Coordinator, JUIT Centrefor Women Studies, Jaypee University of Informa-tion Technology (JUIT), Waknaghat P.O District Solan(Himachal Pradesh)

SEminAR

Prof. Nirupama Prakash (Coordinator , JUIT Centre for Women Studies), Prof.Ravi Prakash (Vice-Chancellor, JUIT) and Dr. Kailash Kumar Mishra(Research

Associate of the Project) with Focus Group Members in Delhi.


l Achyut Nath Jha, Managing Editor, Observer Dawn, Delhi

l Mustajabuddin Malik, Documentary FilmMaker and Organizer of Youth Film Festivalson various issues.

l Mr. Rajeev Jain, Technical Writer and Pub-lished Author

l Mr. Anant Jha, a registered Company Sec-retary and Financial Advisor

l Mr. Tushar Chandra, Insurance Advisorl Mr. Rakesh Kumar Singh, Senior Architect –

Creative Design, HCL Technologies Limited,Noida, Uttar Pradesh

l Mr. Kamal Kishore Gupta, Sociologist andPublisher (owner of Palaka Publication, Delhi)

l Mr. Girish Chandra Dalela, Technical Engineer, DwarkaSector 7, New Delhi

l Babloo Kumar Mukhia, RIRKCLRC, New Delhil Sachin Kumar, BCA Final Semester, Delhil Rajesh Kumar Mishra, B.Com, Delhi University, Delhil Divakar Mishra, Delhi University, Delhil Dr. Kailash Kumar Mishra, Research Associate of the

ProjectEach participant introduced herself/himself briefly. Rakesh Kumar Singh, Senior Architect – Creative Design,HCL–Noida with Dr. Kailash Kumar Mishra through theirPower-Point-Presentation (PPT) suggested the ways andmeans to reach to maximum number of net users in a verysmall period without huge financial expenditure. This PPT was to study & select social media and other re-sources to connect with Indian consumers over Internetand new media initiative. It has following challenges: 8 To identify issues related to consumer preferences and

consumer selection for use of alternative energytransport

8 Feedback & reviews of Electric Vehicles 8 Government willingness to accept it as public trans-

ports8 Subsidy by the government to the buyers and makers

of electric vehicles8 Economic and long term economic value of going for

electric vehicle. Measures of promotion and popular-ization and creating public opinion and awarenesswith the help of electronic and print media

8 Electrical vehicles can be good option for the schoolvans, hospital vans, and similar transport systems.

According to this presentation 63% users of Facebookin Asia are Indians. They are Active Social Network Users.Connecting the Active Network Social Users is an easy task.One can know the opinions and remarks from the net usersin a day. The reactions can be immediate, meaningful. It willgive democratic platform to all net users. It creates scopefor further dialogue and criticism.

The contents and issues can be shared for further dis-cussions and suggestions in all major Social Webs such asAsk, Being, Google, Kaneva, Twitxr and others as shown inthe figure given below. The immediate impact can be ob-

tained and the team can start getting the meaningful data-base as well as directions from the net users about the fu-ture scope of the project.

The PPT explained the impact of Social media effectthrough a following diagram:

Rakesh Kumar Singh talked about the Key Social Plat-forms such as Photo Sharing, Blogging, Micro Blogging, RSS,Widgets, Social networking, Chat Rooms, Message Boards,Products, Video Sharing etc., as shown in the diagram:

Social Media Network, therefore helps a team in sharing,playing, networking, buying, Localization and Publishing.

Social Media Network can be used as active platform toget the opinion, comments, new ideas, suggestions, feed-back, posters, and presentations and create opportunitiesfor dialogue ad chats. Anant Jha, a practicing Company Secretary, exhibited hisconcern and curiosity about the Electrical Vehicles. He ex-plained his concerns in five broad issues: l Technical Attentionl Marketing attention and after sale servicesl Finance to buy or replace the vehiclel Cost of production of car to pass on the benefits to

customersl Establish action team

Anant Jha briefly explained and added sub-points of allthe five above issues:1. Technical attention1.1. The vehicle requires special class of battery and spe-

cial services of battery.1.2. The research and development to bring more life to

battery.1.3. Utilization of technology to generate energy on

board or in parking by wind and solar can be addedadvantage in the vehicle life.

2. Marketing attention and after sale services2.1. Sale vehicle to short distance commuters2.2. Avail more tax incentives and subsidies to pass on to

customer2.3. Battery replacement for life, scheme to replace bat-

tery on low cost2.4. Free and compulsory services for longtime with pick

and drop to facilitate customer with sophistication inall stage

Prof. Ajay Kapoor and Smt. Rashmi Kapoor (L); Prof. Ravi Prakash and Prof. Nirupama Prakash(R)

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2.5. 100% damage claim policy without depreciation bycommunity insurance policy

2.6. Breakdown prompt services with self team or specialagency

2.7. Spread product knowledge, its working, durability,ability and suitability

3. Finance to buy or replace the vehicle3.1. Facilitate finance by own finance company or

bankers3.2. Facility to revalue the vehicle and buyback

4. Cost of production of car to pass on the benefits tocustomers

4.1. Make mass production to reduce the cost4.2. Bulk procurement to reduce the cost4.3. Facilitate SMEs for spares to reduce cost, get quality

5. Establish action team5.1. For government,5.2. For environment5.3. For the vehicle manufacturer’s association to reap the

benefit as non polluting vehicles5.4. To encourage carbon credit utilization

Girish Chandra Dalela, who is a Technical en-gineer by profession, suggested that there isno scope of resale value of EVs. They are highcost, low distance vehicles. Battery life is areal problem with EVs. The key role is playedby the battery. The performance of batteryis always doubtful. The charging time is big.The battery is discarded after a certain pe-riod. There should be a system to get the al-ready charged battery from various pointsfrom where the commuters can easily ex-change their battery. The design and utilityof the EVs need to shaped and reshaped ina competitive atmosphere so that it cancompete with the gasoline vehicles.

Achyut Nath Jha, Managing Editor,Observer Dawn, a niche businessmagazine, suggested that thegroup and more precisely the Re-search Team should work on devel-oping the modalities of lobbyingfor the EVs in political, administra-tive, diplomatic, and industrial cir-cles. The stars from cricket,

entertainments, sports and social sectors should be in-volved for the lobbying and promoting the usefulness ofEVs. Lobbying should be taken as positive and strategicplanning.

Mustajbuddin Malik, a documentary and serial filmmaker supported the ideas of Shri Achyut Nath Jha and sug-gested to make some small promotion films showing theimportance of EVs as pollution free, economic vehicles.These promotion films can be used as the tools to convincethe common people to go for EVs.

Rajiv Jain said that the planners and policy makers ofthe Government should be motivated to add EVs as essen-tial element of the planning stage of the infrastructure de-velopment of the city.As per him, electric car consumption can be increased inIndia if proper attention is made toward following:l With single charge, it can cover distance of at least

250-300 km (weekly distance traveled by most of theriders)

l If solar charging option can be used to charge the bat-tery of running vehicle (solar energy is in abundance)

l Life of battery can be increase (at least 6-7 yeas)l Preference given to owner of electric cars in parking

slots, subsidies, toll tax, etc.l Increase usage in Commercial cars (taxi and cabs), for

which point 1 and 2 must be considered Prof. Ravi Prakash said that Engineers’ job is to develop thecomfort through their technology for the people. The engi-neers associated with the research of EVs should work onall possible dimensions to ensure the better feature includ-ing design, beauty and speed. He said: “Delhi was facingacute problem of pollution due to vehicles and industry. Inlate 1990s and early 2000s several measures were taken tosolve this problem. One measure was the CNG. Regularchecking of pollution level in the vehicles, subsidy in the

Prof. Ravi Prakash said that Engineers’job is to develop the comfort throughtheir technology for the people. The engineers associated with the researchof EVs should work on all possible dimensions to ensure the better feature including design, beauty andspeed.

Research Team with the Focus Group Member in Delhi


CNG, relocating the polluted indus-tries to remote areas were majorinitiatives. Metro rail was broughtas alternative arrangement formass transport. After few years, allthese measures worked and a sig-nificant improvement in the envi-ronment of Delhi is visible now.Now people of Delhi understandthe power of these measures andexpress their happiness.”

Prof. Ravi Prakash stressed theuse of EVs in tourist sites, heritagesites and other areas. He gave theexample of Taj Mahal and said thatthis seventh wonder of the worldwas getting polluted due to the gasoline vehicles (use of oiland diesel). The environmentalists suggested prohibitingthe entry of any gasoline vehicles in 2 kilometers radius ofthe Taj. The battery rickshaws and other alternative vehiclesare however used in the area. The Electrical Vehicles, there-fore, would be best solution for such heritage sites in India.

He said that the solar technology has at present some se-rious problem as a result Solar panels cannot match batterytechnology (tech used in Batteries.).

Prof. Nirupma Prakash briefly described the project, itsobjectives; research Team, collaboration of Swinburne Tech-nical University and Jaypee University of Information Tech-nology (JUIT). Sharing her experience in Europe she said thatin Europe the milk and milk product vendors used to supplymilk and milk products on a battery driven vehicles. The ve-hicles had musical tunes similar to the rhymes of the chil-dren. With the tune people used to understand that thevender has arrived. When they asked “why they are using thebattery driven vehicles as carriers of milk and milk prod-ucts?” The vendors told them that as they stop at every doorstop and using the gasoline vehicles will waste their moneyand increase the pollution. The battery driven vehicles areeconomic, they do not pollute the atmosphere and they areeasy to maintain.

Consensus Recommendations l Awareness drive about the use and importance of

Electrical Vehicles in Indial Battery: Electrical Vehicles manufacturers may offer

battery leasing and/or lengthy battery warranties thatwill enhance the cost-effectiveness of electrical vehi-cles in India.

l Mass mobilization and campaign: Electrical Vehiclessignificantly reduce carbon emissions, even whenusing electricity generated primarily from coal; reduceuse of oil, transmission fluid and other hazardous flu-ids; cut noise pollution. The FG, therefore, may invitethe environmentalists, social animators, administra-tors, members of Housing Societies to support theeasy entry of Electrical Vehicles in India in all possiblemanners.

l Lobbying: Every product is popularized and gets the

people’s acceptance after an aggressive and wellplanned lobbying. Same is true with the Electrical ve-hicles also. The FG has to develop layers of strategiesfor lobbying about the positive elements of electric ve-hicles.

l The areas where Electrical Vehicles can be used imme-diately: Electric vehicles as Public Transport in hospitalindustry, schools, tourist spots. Other areas where EVscan be used are milk and milk product vending, trans-port of grocery and vegetables, etc.

l Electrical Vehicles as easy mode of transport for thewomen and senior citizens: Electrical Vehicles, mainlyscooters, are now in many part of the city used by thegirls, women and also by the senior citizens. They usescooters for the local commutation. They do not haveto stay long line for getting the fuel as it happens inthe Patrol Pump.

l Pressure Group: With a creation or formation of pow-erful Pressure Group, the FG may convince the posi-tive factors of Electrical Vehicles in all walks of people.

l Innovation in Electrical Vehicles is the key factor: Themanufactures and the engineers have to work moresystematically to create following things: Aesthetics,space, speed, look, resale value, measures and mech-anisms for making them suitable for long drive, andlast but not the least, an easy driving vehicle.

l Subsidy from the Government: The FG should work tocreate modalities and campaign materials to convincethe Governments – Central as well as State – to encour-age the buyers in mass scale for buying the ElectricalVehicles. The best encouragement would be subsidyas happens in the case of cooking gas, kerosene oil,and other products.

l Technique of using solar energy in recharging the Elec-trical Vehicle.

l Preference given to owner of electric cars in parkingslots, subsidies, toll tax, etc.

It was finally decided that emerged ideas should during thisforum will be compiled and sent out to all participants. Allcontributions will be considered to help design a recom-mendation, which will lead to action points and a strategic plan. n

A panormic view of Jaypee University of Information Technology, Solan (HP)

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When two leading globalthinkers in technology andforeign affairs — EricSchmidt and Jared Cohen —collaborate and converge,

there is always the possibility of emergence ofgreat work. We know Schmidt for his role in tak-ing Google from a small start-up to one of theworld's most influential companies. Schmidt, a58-year-old billionaire, is currently the com-pany's executive chairman. Cohen, a 31-year-old geopolitical expert, is the director ofGoogle Ideas and is known for his seminal workin helping shape the way the US governmentthinks about technology. The New Digital Age istheir vision of the future when everyone is con-nected and it is up to us to reap the benefitsand also prepare to face challenges. It takesinto account authors' insights into both physi-cal and digital world and, after raising variousqueries about finding a sustainable balance,they move to emphasize the significance of aninclusive technology. Unprecedented connec-tivity, cutting across caste or class barrier, is im-pacting a vast populace around the globe butthe impact will not be uniform. Benefit from thedigitization will be critically dependent on theirpositions. People's position may dictate thelevel of benefits they will get in the virtualworld.

The book is an ambitious attempt to definethe contours of the world that will emerge as aresult of the penetration of electronic network-ing into every corner of the globe and everypart of people's lives. Presently, just over a thirdof the world's population has an internet con-nection of some kind. That means the remain-ing two-thirds will go for connectivity incoming years. The speed of connectivity hasbeen fast and it's hazardous to guess how soonthe world will be entirely connected, scriptinga new but unexpected paradigm for people,

Towards Technological

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Achyut Nath Jha

Inclusion

Eric Schmidt Jared Cohen

states, nations, and businesses. While offering a guide to thedigital future, The New Digital Age comes with endorsementson its inside covers from leaders and conglomerates whomade strong presence in the world politics and economy likeTony Blair, Bill Clinton, Henry Kissinger, Michael Bloombergand Richard Branson.

After introductory pages, the book is divided into sevenchapters and keeping in mind what future awaits in digitizedworld, authors have intentionally headed each of chapterswith "The Future of..." While chapters four, five and six are de-voted to analysing Revolution, Terrorism, Conflict, Combatand Intervention, the seventh chapter deals in reconstruction. In the very beginning, book highlights thesignificance of Internet but makes a cautious approach to its

usability. “It is a source for tremendous good and potentiallydreadful evil, and we're only just beginning to witness its im-pact on the world stage." Schmidt and Cohen write that theInternet can make a huge difference in the lives of billions ofpeople around the world, though it may not solve all ills in-flicting the mankind.

The book contains several thought-provoking materials.The authors share their concern about personal identity andprivacy in a networked world. They are convinced that "Balka-nisation" of the internet is now a certainty and states willhave to make strategy to cope with new challenges.

The most important sections deal with scenario of warand terrorism. “The consequence of having more citizens in-formed and connected is that they’ll be as critical and dis-cerning about rebels as they are about the government,” thebook articulates. There is also a clarion call for powers-that-be. Authoritarian governments will find their newly con-nected populations more difficult to control, repress andinfluence, while democratic states will be forced to includemany more voices (individuals, organizations and compa-nies) in their affairs,” authors argue.

However, for those who were expecting the authors topaint a rosy picture only, they are advised to get ready forsome shocking eventualities also. Here's a sneak peep intosome disturbing points as raised in this book:

Identity exposure: Thanks to spearheading connectivity,a citizen's identity will exist primarily online. As it will becomeeasier to expose identity, person's private life may be intruded making him or her real target to defame.

Unhindered communication: Unlike in physical world andface-to-face situation, with manipulation in digitised worldincreasing, communicators from both ends could becomehelpless about the danger from someone who might be lis-tening to their conversation.

Balkanization: There will be possibility of using in veryparochial way the main source of information, news, historyand activity for citizens living in a conflict zone.

Virtual sovereignty and statehood: There are several ethnic groups which are fighting for carving out their owngeo-political arena. They could form their own web to dis-seminate information among them and establish a virtualsovereignty.

Cyber terrorism: Fringe groups and terror outfits may beencouraged to go full swing on the use of cyber-war tactics.Cyber attacks will be noticed frequently.

A "digital caste system": The social structure in a virtualworld will determine the position and power of people. Asaround five billion people are yet to be connected, the newentrants will extract the maximum benefit.

The book argues towards the end with optimism.” Wecan’t eliminate inequality or abuse of power but throughtechnological inclusion we can help transfer power into thehands of individual people and trust that they will take itfrom there. It won’t be easy, it will be worth it.”

This non-fiction, driven by authors’ desire to inform peopleat large that they should get ready for both positive and neg-ative impact of Web-based technological movers which havetransformed them immensely, needs serious reading. n

The New Digital Age : Reshaping the Future of People, Nations and BusinessBy Eric Schmidt and Jared CohenPublished by: KnopfPages: 315 pages Price: $26.95


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OBSERVER DAWNhosts the IndIan

REALTY CARNIVAL


Observer Dawn, a muchrenowned realty magazine re-cently held a three day RealtyCarnival by the name Indian Re-alty Carnival in Noida. The carni-

val was marked by the presence ofprominent developers like Premia ProjectsLtd, RMS Group, Shubhkamna-Advert,VVIP, BRYS GROUP, Ajnara India Ltd., Am-rapali Group, Paramount, Rajput, JKG, Pra-teek Group, Investors Clinic, Victory oneCentral, 3Aworld, Capital, Solid Founda-tion, Finlace, Neobrix and many more.

The realty carnival was organized at TheGreat India Place (TGIP), Noida and was in-augurated by politician and MLA, Mr.Satvir Singh Gujjar along with Mr. AnilSharma, Chairman, Amrapali Group, Mr.Suresh Chand Kaushik and Mr. RamAgrawal from SHRI Group Starting themuch-sought-after spectacular event tooffer those who pioneered the growth ofreal estate sector, Indian RealtyCarnival(IRC) aspires to do what it thinksand does best — offering a convergingplatform for developers, builders, consult-ants, architects and buyers who made realestate a booming industry. The IRC ismanned and managed by an exclusivegroup of professionals led by Mr HariomTyagi, Editor, Observer Dawn, who is akeen watcher of Real Estate sector’sgrowth for years. The Indian Realty Carni-val (IRC) offered the platform where devel-opers showcased their projects for all theprospective buyers. Such carnivals helpsthe buyers in saving their time to visit in-dividual projects and provides a comfort-able place where numerous projects canbe presented and a buyer can choosefrom them at same given point of timeand place. n

The realty carnival wasorganized at The GreatIndia Place (TGIP),Noida and was inaugurated by politician and MLA fromDadri, Mr. Satvir SinghGujjar along with Mr.Anil Sharma, Chairman, Amrapali Group, Mr.Suresh Chand Kaushikand Mr. Ram Agrawalfrom SHRI Group

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EVENT


EVENT

Bhumi Pujan: VVIP Group

Mr. Praveen Tyagi, CMD, VVIP, his management team and some guests during Bhumi Pujan in Greater Noida West (Noida Extension).

Prateek Group OrganisedCarnival for Home Seekers

Prateek Group, a well-known real estate com-pany recently organized a two day gala carnivalfor all its buyers and home seekers at its sitePrateek Laurel in sector-120, Noida whosephase-1 is now open for possession on the eve

of Vasant Navratras. The carnival was marked by fun filledactivities for kids and parents along with delicious foodwhich everyone savoured. The carnival was inauguratedby the Director of the company, Mr. PrateekTiwari,a young and dynamic personwho with hisentrepre-n e u r i a lskills hasstarted tocarry onthe legacyof his father,the CMD ofthe com-pany, MrP r a s h a n tTiwari.The carnivalwas marked byfun filled kid’sgames and activi-ties along with deli-cious servings for allthe visitors. Live mu-sical bands playedon the stage to enter-tain all the guests.

Hundreds of familiesvisited the site along with their kids and enjoyed a funfilled weekend. Visitors who visited the site were also luredby various schemes offered by the company on their otherprojects like PrateekStylome, Prateek Edifice and PrateekLaurel where complimentary club membership and a cov-ered car parking has been offered under company’s lim-ited offer. For their project Prateek Wisteria, a unique offerof complimentary club membership and NO EMI for 12Months is on the offer. Visitors were amused by the themeof carnival and the benefits of the limited offer. A lot of vis-itors were heard talking about how these offers may helpthem buying their houses along with additional benefits.Prateek Group since its inception in 2005 has created aniche for itself by developing projects with high quality ofconstruction and strategic location. All the projects devel-oped by the group in Noida :Prateek Laurel, sector-120,

Prateek Wisteria, sector-77, Prateek Fedora, sector-61, andultra-luxury projects like, Prateek Stylome,sector-45 &Prateek Edifice, sector-107 are marked by strategic loca-tion, congestion free connectivity, good infrastructure andworld class facilities for all its buyers.The group has also delivered projects like Prateek -The

Royal Cliff at Crossing Re-public and Prateek Fedorain sector-61, Noida.Mr PrashantTiwari, CMD,Prateek Group, who ishimself a civil engineerwith two decades ofexperience in develop-ing residential areas,has been the back-

bone and the manwith the visionwho worked ef-fortlessly to bringthe companywhere it is today.Today the com-pany stands tallon four pillarsof strength:Passion, Hon-esty, Qualityand Profes-

sionalism.Mr PrashantTiwari, while talking

about his journey says, “We started to work on ourdream in 2005 and have always believed in good qualitywork and on-time deliveries. In such short span we havecreated milestones which are equally appreciated by allour buyers. People have not just bought their dreamhomes with us but had fetched good returns on their in-vestment with us.”Mr. Prateek Tiwari, the Director of the company, said, “Wethought about organizing this carnival, to share our joy ofDelivering the Mega Project Prateek Laurel. This carnivalwas an opportunity for potential buyers to buy at neverbefore prices whereas for our existing customers this wasa joy ride where there whole weekend will be full of Fun &Frolic moments and this expression of gratitude would bea moment to cherish for Prateek Group as well. We show-cased our range of projects for luxurious living to ready forpossession home seekers and offered them lucrative ben-efits considering their investments as well.”n


Kochi 7-Star’ Rating toTritvam

After taking into account several parameters like project developer quality, construction quality and amenities, legal and finance, the above rating is assigned on a one-time basis.

Credit Analysis & Research Ltd. (CARE) was pro-moted in 1993 by some of the leading Indian banksand financial institutions. Major shareholders ofCARE include IDBI Bank, Canara Bank and StateBank of India. CARE is amongst the premier creditrating agencies in India and provides credit rating,research and information services. CARE’s ratingmethodologies are in line with the best interna-tional practices.

Project Star Rating Rationale• Project developer qualityTRIF Kochi Projects Pvt. Ltd. (TKPPL) is a Special Pur-pose Vehicle(SPV) created by Tata Realty and Infra-structure Ltd (TRIL) to develop a premiumresidential project ‘Tritvam’ at Kochi. TRIL belongs tothe TATA Group, and is a 100% subsidiary of TataSons. TRIL has been in the real estate industry sinceMarch 2007 and have worked in mixed use develop-

ment (commercial/retail/residential/hospitality) andother infrastructure projects. TRIL is managing 4 on-going real estate projects (excluding Tritvam)through various SPVs having a consolidatedsaleable area of over 7 million square feet (msf ).TKPPL is managed by TRIL and is a fully owned sub-sidiary of Tata Realty Initiative Fund (TRIF), in whichTRIL is also a share holder.• Project construction quality and amenitiesThe company has hired award winning (AmericanInstitute of Architects [AIA] Harry Seidler award-2009) Australian architect firm Woods Bagot (WB)which is globally known for making water front realestate properties. Further, TKPPL has outsourced itscivil construction works to Leighton Welspun group,which is a leading multinational company dealing inconstructions, mining and project development. Be-sides, the company has hired Sterling Engineering

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Consultancy and Made Wijaya as itsstructural and landscaping consult-ants, respectively. The company hasalso hired Edifice Group of Mumbaiand CBM Engineers, USA to work asthe peer consultants to Woods Bagotand Sterling Group, respectively. Asso-ciation with above entities specializ-ing in their respective domain is likelyto enable TKPPL to deliver quality resi-dential project. The internal projectteam of TRIL verifies and monitors theworks of the afore-mentioned spe-cialised entities. A weekly report isgenerated from the project site and isdelivered to TRIL project team to eval-uate the quality of work done bythese consultants. To maintain thequality of construction, Leighton Wel-spun has setup an independent qual-

Project Name : TritvamProject Type : ResidentialProject Location : Marine Drive, KochiDevelopment Type : Bought out landProject Start Date : July 2010Scheduled Project Completion Date : June 2015Agreed upon Possession to thecustomer : July 2015 (with 9

months grace period, April 2016) Total Saleable Area 1.06 msf

Construction Status : The project construction is in initial stages and the same hasprogressed reasonablytill date. As on February 7, 2013, construction hasbeen carried out upto 2nd level in Tower I and upto 4th level in Tower II, Tower III and Tower IV of phase I. Besides, work has been car ried out upto basement level in the iconic tower of phase I. Phase II work is yet to commence. Project progress report is sent to customers on a monthly basis along with site pictures.

Project ProfileThe internal projectteam of TRIL verifiesand monitors theworks of the afore-mentioned specialised entities.


Name of the company developing the project : TRIF Kochi Projects Pvt. Ltd.Project developer group : Tata Realty and Infrastructure LtdDevelopment Experience of the developer group : 6 yearsNo. of years in the industry : 6 yearsNo. of projects developed : Niltill date Total Area developed : Niltill dateNo of projects ongoing : 4 (more than 7 msf of saleable (TRIL) area excluding Tritvam)

Project Developer Profile

ity control (QC) team and a safetycontrol team that directly reports tothe TRIL. The developer uses SAPbased MIS system to keep track ofproject’s progress. Both raw materialusage and labour contracts aretracked on a daily basis. The projectcomprises 7 residential towers, oneconvenience retail (3000 sq. feet),and one multilevel car parking(MLCP) for about 800 parkingspaces. The entire project is spreadover a land measuring 8.44 acreswith sea facing front view and birdsanctuary as its rear view. The proj-ect features adequate amenitiessuch as club house, tennis court, ter-race gardens, infinity swimmingpool, yoga court, children’s playarea, jogging track, senior citizenscorner to name a few.• Project legal quality The project’s land title is clear andmarketable and the title search(done by Wadia Ghandy and Co) forthe entire property is done for 18years. All pre-construction approvalshave been obtained for the project.The project layout is approved byCorporation of Cochin (COC) andcommencement certificate hasbeen obtained for the same.• Project financial quality High funding risk due to high de-pendence on customer advances.Nevertheless, the project belongs toTRIF, which is a mid-sized private eq-uity fund enabling adequate finan-cial flexibility during stressedscenarios. n

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The Taiwanese manufacturer HTC has brought a freshlook to the old Android with the launch of it ‘HTC First’.This new smartphone comes equipped with a specialfeature called Facebook Home, which will act as a skinto the Android phone and will give the user latest up-

dates on newsfeed, notifications, and chats.Along with this the phone will also have a pre-loaded Instra-gram in it. This is the first ever phone to be launched with thisfeature. If you love Facebook and wants the need to have it justat your fingertips then you will love this device.The smartphone has a 4.3-inch capacitive touch screen displayand comes with a pixel resolution of 1280x720. It runs on An-droid 4.1 Jelly Bean operating system and is powered by 1.4GHz dual core processor. It comes equipped with5.0-megapixel autofocus rear camera with LED flash and 1.6-megapixel front facing camera for video calling. The device has1GB RAM and 16GB of onboard memory storage. On the con-nectivity front, the HTC First offers 4G LTE, 3G, WiFi 802.11a/b/g/n, Bluetooth 4.0, GPS + GLONASS, NFC. The smartphonewill be available in four colour variants Black, White, Pale Blueand Red. Although, the company has not yet disclosed theprice of HTC First but we expect it to be within the price rangeof Rs 16,000.n

LG Electronics introduced the new Optimus L7 II series keeping inmind the mid range smartphone market in India. The companyintroduced the L7 II dual with good features for the customerswho want get performance and value for money. As the namesuggests it’s a dual SIM phone, which comes with a 4.3-inch IPS

capacitive display with 480x800 pixels resolution. It runs on Android 4.1.2Jelly Bean operating system. Powering the device is 1GHz dual core CortexA5 processor with Qualcomm MSM8225 Snapdragon chipset and Adreno305 GPU. On the memory front the smartphone has 786MB RAM and 4GBinternal memory which can be further expanded to 64GB via microSDcard. The phone is equipped with an 8.0-megapixel autofocus rear snap-per with an LED flash accompanied by a secondary VGA camera for Videocalling. The connectivity features of the device include Bluetooth 3.0, Wi-Fi (with Wi-Fi Direct), 3G, GPS and GPRS. Moreover, the device also hassome pre-loaded apps like Google Search, Maps, Gmail, Gtalk, Youtubeand many others. In order to ensure the smooth functioning of thesmartphone there is also a 2,460 mAh battery. The smartphone is avail-able in two colour options of Black and White. Considering that it isa mid range offering the company has pieced the LG Optimus L7 IIdual for Rs 18,650. n

HTC FirstThe First of its kind

LG Optimus L7 II dual

72 lMay 2013

TECHNOLOGY

OBSERVER DAWN

After announcing the Sony Xperia ZL at CES 2013, theJapanese handset manufacturer Sony finallylaunched the device in India. It was launched alongwith the Sone Xperia Z and also slightly thicker thanit. Apart, from the device also share some similar fea-

tures with the Xperia Z like the 5-inch Full HD Reality Displaywith 1920x1080 pixels resolution and mobile Bravia Engine 2 at443 ppi. It run on Android 4.1 Jelly Bean operating system andis powered by 1.5 GHz quad core Qualcomm SnapdragonAPQ8064 processor along with Adreno GPU. On the camerafront, the company has offered a 13.0-megapixel rear camerawith LED flash, Exmor RS sensor for HDR images and Video. Therealso a 2.2-megapixel HD secondary camera to support video call-ing. The smartphone packs 2GB RAM and 16GB of internal mem-ory which can be expanded up to 64GB via microSD card. TheXperia ZL has connectivity attributes like 3G HSPA+, WiFi 820.11a/b/g/n (2.4 GHz/5 GHz), Wi-Fi Direct, Bluetooth 4.0, GPS /GLONASS and NFC. It houses a 2,330 mAh battery. The companyhas priced the smartphone at Rs. 36,990 and it will be availablein two colour variants Black and White. The phone is available inthe market. The device comes with the Sony Music App, whichwill provide unlimited and free music streaming and Sony LIVapp that would allow you to watch Sony TV programs.n

Nokia Lumia 720The mid range powerful Lumia

Sony Xperia ZL

Nokia showcased the Lumia 720 at the Mobile WorldCongress 2013 and it grabbed all the eye balls dueto its affordable price and the features it carries.The phone is the mid range offering from the com-pany and it runs on Windows 8. The device consists

of a 4.3-inch ClearBlack LCD display with 800x400 pixel resolu-tion. It comes equipped with 1 GHz dual-core Qualcomm Snap-dragon S4 MSM8227 processor and Krait CPUs and Adreno 305GPU. On the camera front the device boasts 6.7-megapixel aut-ofocus rear camera with LED flash and HD video recording,whereas there also comes along a 1.3-megapixel front facingcamera for video calling. The phone has 512MB RAM and 8GBof internal memory which is expandable up to 64GB via mi-croSD card. On the connectivity front the device offers, 3GHSPA+, WiFi 802.11 b/g/n, Bluetooth3.1, GPS / aGPS, NFC,A-GPS+GLONASS. All this action is well car-ried out by a 2,000 mAh battery. Like all the others in the Limiarange this also comes with various colour options of Yellow, Red,Cyan, White and Black. Nokia 720 being a mid range phonecomes at a price tag of Rs 18,999. n


Prayag one of the lead-ing manufacturers ofbathroom & kitchen fit-tings, recently launched

their new “7000 series” of faucets &showers. These products were unveiled

by the IPL Team “Kings XI Punjab” -Team Captain Adam Gilchrist, DavidHussey and Piyush Chawla and Mr. NitinAggarwal - CEO of Prayag, Mr. V.K. Ag-garwal – Managing Director of Prayag.Prayag is also the official team partnerof Kings XI Punjab for the 2nd consecu-tive year.Addressing the event, Mr Nitin Aggarwal,CEO of Prayag, said “The 2nd year of ourassociation with Kings XI Punjab, givesus privilege to yet again encash thesame passion and enthusiasm that theteam with their visionary captain AdamGilchrist and promising players like DavidHussey, Piyush Chawla, Shaun Marshconnects with Indian masses

strengthening the brand with high cred-ibility and reliability in the long run.”Last year Prayag launched its range ofH20 series with Kings XI Punjab at Delhi,but this year Prayag choose Kolkata forits launch as West Bengal, Orissa, Assam,Jharkhand and Bihar have been mostsignificant states for Prayag’s success.n

Kings XI Unveils Prayag’s Products

Square Foot a leading pioneer inflooring solutions has launched itslatest range of eco-friendly woodplastic composite outdoor deck

flooring – BPC deck title. Made up of a

combination of bamboofiber, high-density polyethyl-ene and chemical addictive’s,BPC deck tile is 100% recycla-ble and eco-friendly. Thebrushed surface provides excellentslip resistance making it suitable aroundswimming pools, gardens and can alsobe installed as deck flooring on thebeach. BPC deck tile is weather-resistant whichis suitable from – 40 degrees to 60 de-grees and has high resistance to rottingand cracking. This type of tile is also pestresistance and requires no painting ormaintenance as it retains its color withyears to come. The uniqueness of thistype of tile is that it’s a good heat insu-lator and also great noise reducer.n

Square Foot Launches BPC Deck

74 lMay 2013

DESK NEWS

OBSERVER DAWN

MMRF Realty & Infrastructure, anew credible entrant in the real-estate industry in Chennai , an-nounced the launch of its first

two residential projects in Chennai, Sai

Enclave, strategically lo-cated at Arasankazhaninear OMR and VistaOceana, Padur, OMR.Theprojects are sure to becomethe dream destination of everyhome buyer in the city.Sai Enclave offers affordable livingwith incredible comfort amidst an urbanand fast-paced environment. Splendidlydesigned by renowned architects, theproject consists of 44 units including 1BHK,2BHK, and 3BHK apartments, all craftedfor elegant living. The meticulous con-struction of Sai Enclave is paired with up-scale amenities such as a play area,fitness centre, power backup and a lushgarden spanned across a total construc-tion area of 46,660 sq.feet. The apart-ments from Sai Enclave are availablefrom Rs. 28lakhs-47lakhs.Vista Oceana is a residential complex ofsemi-independent luxury villas, close tothe blue waters of the Muthakadu Lake.n

MMRF Brings in New Projects

AGS Transact Tech-nologies Ltd. todayannounced the ap-pointment of

Mr. Amitabh Jaipuria as the‘Chief Executive Officer’ for its Bank-

ing business. Amitabh is a senior andwell known business leader with over 23years of experience across various lead-ing multinational and Indian organisa-tions. Mr. Jaipuria has worked acrossvarious business sectors, business cycles,markets and companies in India – fromDurables and FMCG to Services and Agri-culture; from startups to growth and sta-ble businesses; and from large Indianbusiness houses to giant MNCs. Prior tojoining AGS, Amitabh served as the Man-aging Director for Monsanto India Lim-

ited (MIL) – the listed entity of Monsantoin India for the period of over 5 years.He played an integral role in leading MILtowards its multiple goals.n

Jaipuria as a CEO (Banking)


Supertech Limited, India’sleading real estate, devel-oper announced its asso-ciation with Disney India

for Disney inspired interiors and ex-teriors at their proposed residential

project, Fable Castle, part of an inte-grated township, Golf Country, located atYamuna Expressway, Greater Noida.

This association will provide an opportu-nity to kids and families to bring theirfavorite Disney characters to life. Disneyfans can choose from their favourite Dis-ney stories or their beloved Disney char-acters and own family spaces that arecolourful, timeless and inspiring.

On the occasion, Mr. R. K. Arora, Chair-man and Managing Director, SupertechLimited said, “We are really happy to an-nounce our tie up with Disney India. Dis-ney characters and stories have inspiredevery generation and this will give an

opportunity to all those who want tohave a Disney magic in their homes. Asa company, we have always tried togive something different and new toour valued customers and this timeagain we are creating an all togetherdifferent project. We are the first onesin North India to bring this unique con-cept in housing”.n

Disney India Ties-Up with Supertech

TDI infracorp, one of the biggest realestate developers in North & Cen-tral India announced the launch oftheir mega project “Lakegrove”- an

integrated township built around artificial

lake in Kundli-Sonepat. Theworld-class township en-dows lavish lifestyle competewith Skyscrapers, High rise,Water Side Floors; IndependentVillas & Plots which offers an un-parallel level of magnificence andserene view of the lake.Speaking during the launch, Mr. KamalTaneja, Managing Director, TDI Infrastruc-ture Ltd said, “In this fast-paced life wehave endeavored to offer somethingnew and refreshing for our discerningcustomers so that they can live life closeto nature. With projects in Kundli-Sonepat, customers will most benefit ashousing options here is at a relatively lessprice point as compared to Gurgaon,Noida and Faridabad.n

TDI Announces Water Side Floors

76 lMay 2013

DESK NEWS

OBSERVER DAWN

Allaying misconceptions in certainquarters that ONGC had bannedShiv-Vani Oil & Gas ExplorationServices Ltd the global leader in

upstream supply and support has clarified

that its operations at Kakinada in AndhraPradesh on the ONGC contract are nowgoing on smoothly.

A world leader in upstream supply andsupport, Shiv-Vani Oil & Gas ExplorationServices Limited has been the preferredexploration partner of Oil and Gas majorsin India and the Middle East since 1989.Headquartered in New Delhi (India), thecompany offers a wide spectrum of serv-ices in the field of oil and natural gas ex-ploration and production. Shiv-Vaniconducts two dimensional (2D) and threedimensional (3D) land seismic and transitzone surveysShiv-Vani had been awarded a contractby ONGC to install and operate one com-pressor along with one standby compres-sor at Kakinada which was expected tomobilise within 45 days from the date oforder or before September 26, 2012.n

Shiv-Vani Starts ONGC’s Contract

Nitesh’ Long Island in Bengaluru

In its effort to provide aunique setting for thework-live-leisure lifestyle,Nitesh Estates Ltd. has

launched Nitesh Long Island, aRs. 178 crore project in Devanahalli,

Bengaluru. Devanahalli from beingabode of the Kings, has evolved into ahome destination. This is the next Indi-ranagar in making … an opportunity forthose who missed Indiranagar lifestyleyears back.

An integrated gated conclave, NiteshLong Island is planned as a ‘PerfectHaven’, on a sprawling property of over41 acres. Abutting NH-07 at Rani-Circle,positioned on NH-207 (the proposed Hy-derabad-Bengaluru-Chennai bypass cor-

ridor), Nitesh Long Island provides easycommute to the city centre, airport andall major existing and upcoming eco-nomic hubs.n

OBSERVER DAWNlMay 2013 77

Godrej Properties Ltd.(GPL), the real estate de-velopment arm of theGodrej Group, anounced

the launch of Phase III of its resi-dential project, Godrej Summit, near

Dwarka Expressway, in Sector 104, Gur-gaon. The new phase consists of a totalsaleable area of approximately 2 lakhsq. ft. Customers can choose from 3 BHK,4 BHK, and penthouse apartments rang-ing in size from 1,712 sq. ft. to 4,925 sq.ft.

The location offers excellent connectivityand is close to the proposed 150 meterwide Dwarka Expressway, which is cur-rently under construction. The site isstrategically located in the high growthcorridor of Gurgaon urban area and isalso well connected to the Airport, Rail-way Station, NH8 and Gurgaon CentralBusiness District.

Godrej Summit will offer various ameni-ties including a modern communitycentre, a well-equipped gymnasium,swimming pools, meditation/yoga areasand a café. Sports facilities such as anindoor squash court, a tennis court, abadminton court, a multipurpose court,a jogging track and a skating rink etc.n

Phase III of Godrej Properties

Emaar MGF Land Ltd. (EMGF), a lead-ing real estate and infrastructuredeveloper, has announced thelaunch of ‘Imperial Gardens’, a fine

conglomeration of luxury and fine living,

in sector 102, Gurgaon. Thecompany plans to develop9 high-rise towers comprising580 units of 3BHK apartmentswith floor area of 2000 Sq. Ft.each. The project offers 3 BHK flats with fam-ily lounge and luxury specifications in amodern gated development spreadacross approximately 12 acres of landalong Dwarka Expressway. The project isstrategically planned just outside Delhi toprovide residents a permanent stay in theupcoming commercial hub with easy ac-cess to the national capital. Imperial Gardens has 9 towers arrangedaesthetically to ensure all homes facegreen areas inside the project and thearea surrounding it. The project itself hasmore than 6 acres of green area.n

Emaar MGF’s Imperial Gardens


DESK NEWS

Meydan Group announced thecreation of a joint venture withSobha Group to develop 4 mil-lion square metres (more than

1,000 acres) of prime freehold land into

an exclusive destinationof key leisure and retailattraction points sur-rounded by spacious resi-dential communities, withinMohammed Bin Rashid City.Located alongside Al Khail Road,adjacent to the prestigious MeydanRacecourse and less than three kilome-tres from Dubai’s key financial, leisure andshopping districts, the community named‘Mohammed Bin Rashid City -District One’

will be the closest residential villa andgreen space development to the famousBurj Khalifa district.Meydan Sobha FZ LLC is an equally-splitjoint venture, which includes the devel-opment of city parkland, waterways,woodlands and open spaces covering aspectacular 2.4 million square metres (600acres) of Mohammed Bin Rashid City -District One. n

Mohammed Bin Rashid City

The Mumbai-based realestate developer signsa development man-agement agreement

for a project on Whitefield MainRoad Godrej Properties Limited

(GPL), the real estate developmentarm of the Godrej Group, has enteredinto a Development ManagementAgreement with M/s United OxygenCompany Private Limited, to developtheir property situated near Hoody,Whitefield Main Road, Bengaluru. Theproject will offer approximately1,000,000 sq. ft. of saleable area andwill be developed as a residential hous-ing project. The site is strategically lo-cated on the Whitefield main roadleading to the well-known IT/ITES estab-

lishments located in ITPB and EPIP zoneof Whitefield. The proposed Phase 2 ofthe Bangalore Metro will enhance theconnectivity to the project.n

Godrej Properties’s New Foray


OBSERV

ER DAW

NPrice `100, Year 2, Issue M

ay 2013

May Issue

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