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Transcript of Squarefoot Realty
Your guide to the best property
November 2015 I `100
High TimeHigh TimeThe Govt Wakes UpThe Govt Wakes Up
HOUSING FOR ALL BY 2022-HOUSING FOR ALL BY 2022-WILL IT REMAIN A DREAM?WILL IT REMAIN A DREAM?
Expressway to connectExpressway to connectMumbai and Nagpur !Mumbai and Nagpur !
Dr. Bino Paul,Dr. Bino Paul,Dean of Tata Institute of Social SciencesDean of Tata Institute of Social Sciencesdiscusses with Pranjal Bhandarkardiscusses with Pranjal Bhandarkar
Editorial
Despite all the challenges faced by an indi-
vidual to buy his/her own residential place
in the city, there are not set parameters
that defi ne about when the government
initiatives will actually prove to benefi t the com-
mon man? Recently Prime Minister Narendra Modi
announced a highly ambitious project of ‘100
Smart Cities’ in the country by 2022. On the other
hand, only promises are being made of providing
‘Housing for all’ across the nation.
However, the compelling requirement to complete
the Housing for All initiative should not compromise
the standard of living. Hence the government has
decided to adopt numerous modern technologies to achieve that. Along with this,
Smart Cities Mission came into form. It is a clever amalgamation of technology and
basic infrastructure. Seamless connectivity, sustainable resources, energy effi ciency,
and technology integration are the focal points that will be addressed in Smart Cities.
To attain the mission of building 5 lakh homes in 5 years, the BMTPC has
recommended to useeight advanced technologies in construction that will help build
homes faster. Also, special focus will be given to building green and eco-friendly
properties. The state government seems to be building bigger infra developments.
The latest one to be added in the list is Mumbai – Nagpur Express Highway. It will
connect Aurangabad to Mumbai via same route. It is said that the highway will save
65 km of distance between the two cities. The Express Highway is expected to share
the major direct road traffi c between Mumbai and Nagpur, including almost 30%-
40% of traffi c from NH 6.
However, engrossed in elevating our standard of living, we tend to ignore matters
that are equally crucial. Like the state of skilled labours in our country. For over one
and half decade, there has been a considerable shortage of skilled labours, RCC
fi tters, masons, plumbers, carpenters and technicians who carry out sanitary works
and other construction related tasks. This section of workers is paid below minimum
wages and still not appreciated enough.
We believe that we need to start degree or diploma courses that will provide these
talented technicians job security. Also, it will encourage the unemployed youth of the
country to pursue the skills required to do these jobs.
Realizing the problems currently being faced and thepotential rise of more in the
future, we need to cater to the needs of the buyers in every possible way. We, at
SquareFoot believe that a medium to channelize every requirement of buyers to
prospective developers is the need of the hour. We strive hard to be one of those
encouraging mediafor the public and benefi t them in any way possible.
With warm regards,
Editor-in-Chief
Volume 1 Issue 2November 2015
Editor-in-chiefN.K.Bhupeshbabu
Managing EditorNineesh Babu
Production & CirculationSandeep Kanade
Subscription & SupportPranjal BhandarkarShilpa AvhadNitin Lade Pratik MadaneShreyas Kabale
Published and Owned By: Enkaymarcomm Pvt. Ltd. Real Tech Park, 5th fl oor, Sector- 30A, Near Vashi Railway Station,Vashi, Navi Mumbai, Pin: 400703 Tel: 02227777200 Email: [email protected]
Squarefoot Realty I november 2015
3
News
Housing for all
Luxury Hotel - Jumeirah
Interview - KVK
Leak Free Homes
Fast Track Seawoods
Space Saving Furniture
Mumbai Nagpur Highway
Interview - Adhiraj
Belapur Khandeshwar Metro
Past Events - NAREDCO
Buy or Rent
Interview - Qualcon
Havells India Smart Cities
Expert Advice - Omkar
Interior Trends
08152123273032353840424549515457w
hat’s
insi
de
...
Home Automation Appliances
SurajParmar Article
Home Away Home
Green home
5 Infra Developments in Mumbai
FengShui
Interview - Lakhani
How far wood you go?
MCHI - 2015
Diwali Home Decoration
TISS Dean Interview - Skilled Labours
Property Index
8185
61
88
65
89
70
92
73
93
78
96
After reading news about a
residential house worth Rs.
750 crore in Mumbai, we
bring another one that will
make your jaw drop. This time it is
a commercial space. Probably, one
of the largest offi ce transactions, a
working space in Mumbai was sold for
about Rs. 1480 crore.
Yes! You read that right. Godrej
Properties announced that a space
A house worth` 750 crore in Mumbai !
Now anoffice worth` 1480 Crore !
It looks like the rich and famous
of Mumbai are gearing up
to give each other a stiff
competition. After one of the
top businessmen of India, Mukesh
Ambani built his mansion worth $1
billion, making it the most expensive
home in the world, others are leaving
no stone unturned to join the race.
Recently, when leading industrialist
Kumar Mangalam Birla acquired Jatia
House in the plush Malabar Hill area
for Rs. 425 crore, it sets the tongues
wagging. In 2014, the house of the fa-
ther of the nation’s atomic programme
Homi Bhaba, Mehrangir was bought
by the Godrej family at Rs. 372 crore,
while the Maheshwari House was sold
for Rs 400 crore.
However, now Pune-based industrial-
ist Cyrus Poonawala has gone a step
ahead. He bought the iconic Lincoln
House in Mumbai for a whopping
amount of Rs. 750 crore. Located in
the Breach Candy area of South Mum-
bai, the place earlier used to house
the US Consulate. Lincoln house is
a grade III property spread across
2-acres and has a built-up area of
around 50,000 sq ft.
Grade III spaces are supposed to be
heritage properties which are to be
open for redevelopment. However,
Lincoln House will be spared as Poon-
awala is planning to convert it into his
family residence. The consulate was
shifted to Bandra-Kurla Complex Area
in 2011 and Lincoln House has been
on the market since then. The US of-
fi cials were demanding Rs 850 crore
for the place, but had to later settle
with Poonawala’s offer.
Earlier owned by maharaja Pratap-
sinhji Jhala Wankaner, Lincoln House
was formerly known as the Wankaker
House. In 1957, it was leased to the
US who renamed it to the Lincoln
House and made it as their consulate
in Mumbai. However, later the maha-
raja sold the place to the US consulate
to pay off his taxes.
of around 4.35 lakh sq ft in its com-
mercial project at BKC was bought
for almost Rs. 1.5 crore. However,
the offi cial spokesperson of Godrej
denied to disclose the name of the
buyer, hush-hush reports say that it
has been purchased by the leading
pharma company, Abbott India.
Godrej fi led the BSE in which it has
been clearly mentioned that the
company has signed a deal of selling
4,35,000 sq ft of saleable area at its commercial project Godrej BKC in Bandra
Kulra Complex (BKC) Mumbai to a single user for a total consideration of Rs
1,479 crore. This is said to be the highest ever value any single end-user has
paid for a real estate transaction in India.
BKC is one of the biggest commercial complexes in the city with approximately
1.3 million sq ft saleable area. Godrej Properties is developing residential, com-
mercial and township projects spread across 110.30 million square feet in 12
cities.
Even though, there is quite a lull in the residential real estate market in India
since past few years, commercial spaces are still in demand for leasing, buying
or selling.
Squarefoot Realty I november 2015
8
Cartoonist, father of Shiv Sena, enigmatic personality, power icon… the
list goes on for Bal Thackeray. The Hindu fundamentalist turned politi-
cian has left a unique mark in the country, especially Mumbai city even
after his death.
However, it has been over two years and tenth months since he breathed his
last. Plans have been fi nalized to build a memorial for Bal Thackeray and thus
began the search for the site to do so. Finally, it seems that all the hard work
has been fruitful as the frenetic search came to an end. The committee who
has been given the task of locating a site has zeroed in on the stunning seaside
bungalow which belongs to the city’s mayor. The reason to choose this property
is because it is located near Shivaji Park, which is where Bal Thackeray estab-
lished the party and also addressed its annual Dussehra rallies. He was also
cremated at Shivaji Park on November 17,2012.
The property is a Grade II heritage structure. Therefore, the committee decided
to re-acquire the neighbouring plot that is being currently leased to The Park
Club. Thankfully, there will be no hindrances to start with the project as the prop-
erties are controlled by the Sena-ruled Brihanmumbai Municipal Corporation.
The construction is expected to begin by the end of this year or early 2016.
The mayor, however, needs to be shifted to a new place. Two options that have
been shortlisted are – a heritage bungalow inside the premises of Byculla
Zoo and the designated bungalow of the Mumbai Municipal Commissioner at
Carmichael Road.
The memorial location has been fi nalized by Shiv Sena President Uddhav Tha-
keray. It is a sprawling area with large foreground along with an unfathomable
sea view and was built in 1928.
This year, the rains have not been as expected in the city. Resulting to
which, there has been a shortage of water in Mumbai. The Brihanmum-
bai Municipal Corporation (BMC) has been discussing water cuts to man-
age the situation. Therefore, to improve the water supply in the future, a
new water tunnel will be constructed.
The tunnel will be spread across Chembur to Wadala in the fi rst phase, whereas
it will be extended to Parel in the second phase. The goal of this tunnel is to
carry water from the eastern suburbs to central Mumbai. The average length
of tunnels is 60-80 metres below the road surface and have huge diameters
to supply water throughout the city effi ciently. The estimated cost of the initial
Bal Thackeray’smemorial to be built inMumbai soon
phase is Rs. 480 crore and the new
tunnel will provide uninterrupted
water supply. Permissions to start the
project has already been granted.
The requirement of Mumbai is
almost 4300 million liters per day.
But unfortunately, we only manage to
get a supply of 3750 litres per day.
Therefore the civic body has ordered
the water cuts. And also the existing
pipelines are 70-80 years old. So if
any damage happens to them, there
problem worsens. The civic body
is also taking land from its sister
concern, the Brihanmumbai Electric
Supply and Transport (BEST) for the
tunnel.
A plot of area 600 sq. meters near
Pratiksha Nagar has been allotted for
the water tunnel. The property will be
used to a shaft and ancillary struc-
Measures toImprove water supply in Mumbai
tures in the water tunnel at a lease of
Re 1 annually as rent. Shocked? The
reason behind asking for such minis-
cule rent is that BMC has given many
plots to BEST and expected them to
reciprocate in the same manner. The
plot will be on the north-west side of
the depot and would be barricaded, so
that it doesn’t affect the parking and
movement of buses.
Squarefoot Realty I november 2015
9
PM Narendra Modi announced an ambitious project ‘Smart
Cities’ where in 98 smart cities will be created all across the
country. Selection of all such sites has already been made
and the initialization of the plan in underway. However, no-
body gave a thought about the biggest hurdle we could face to properly execute
the project.
Money! We are talking about money. The companies under the centre’s
ambitious project will have to go through the tough challenge of funding and
execution. Few experts suggest that the focus would have been better if the gov-
ernment could have started with fewer number of cities initially and developing
For an average earning
individual, the
stress of buying a
home is lowered
with the help of banks when they
approve the loans. However, getting
a loan approved too is a tedious task.
One needs to do a proper study and
research about the interest rates and
loan duration before applying. But
what happens when you fi nd another
bank offering lesser interest rates than
the one you are already paying?
Now you can shift your home loan. Ex-
perts suggest that buyers should shift
loans only if there is another bank
offering them a lower interest rate and
the cost of shifting. Where fl oating or
fi xed rates are concerned, in the cur-
rent environment when interest rates
are expected to go down, it makes no
sense to lock into a fi xed rate.
Also, to keep in mind is the fact that
for a new bank, you will be considered
as a new borrower and hence you will
be offered better rates than what you
might be actually paying on your cur-
rent loan. So you will need to identify
the lender who compared to your ex-
isting lender is offering a signifi cantly
lower rate of interest.
Once your loan application is sanc-
The biggest hurdle inSmart Cities Mission– Money!
Not happywith your loan interest rates?
them as a model for others to follow
the lead. Researchers say that now
that 98 cities have been identifi ed,
funding will be a major obstacle for
the companies.
PM’s mission was to improve the
standard of living of all the citizens
in India. The focus is on sustainable
development of smaller areas to
convert it into the smart city zone.
However, it is going to be a hard time
while executing the plan.
Under the mission, it will be operated
as a centrally sponsored scheme and
the centre will give fi nancial support
to the extent of Rs 48,000 crore over
fi ve years, which is on an average Rs
1,000 crore per city per year. There
are already few states which have
expressed its skepticism in implemen-
tation of the scheme. They believe that
if there is a shortage of funding and
administrative help, it will be impos-
sible to fulfi ll the requirements.
tioned, you will have to request your
bank to give you a letter addressed
to the new bank. The document will
mention the details of the outstanding
amount of the payment. This letter
should also contain the list of docu-
ments that the existing lender has.
Along with that you will also require
a NOC (No Objection Certifi cate) from
society/ statutory authority/ builder
etc., in favour of the new lender.
The current lender will charge fees for
processing the shifting of your loan
application. And if you have a good
credit history, there are chances that
the bank might help your process on
cheaper rates.
Squarefoot Realty I november 2015
10
Distance between Thane-Borivali to shorten
Partially legalbuildings may still get anoccupancy certificate
The Public Works Department (PWD) has decided to connect
the northern suburb of Borivali to the central suburb of
Thane in the easiest way possible. To accomplish this
ambitious goal, PWD minister, Eknath Shinde announced
that a 11-km tunnel will be constructed which will slash down the travelling time
between Thane and Borivali by almost an hour.
Currently, Thane is connected to Borivali via Ghodbunder Road and the total dis-
tance of the route is 23 km. The travel time is worsened if there is traffi c on the
road. The State Road Development has fl oated tenders to appoint consultants
to carry out the feasibility report and work out the Detailed Project Report of the
project. This tunnel will connect the two places in merely 10 minutes.
The proposed tunnel will split from Ghodbunder road to Tikujiwadi covering
11km beneath the ground through the Sanjay Gandhi National Park and Yeoor
Hills. Further, it will be connected with Western Express Highway (WEH). The twin
tunnel will have three lanes, total six lanes on each carriageway. The estimated
cost of the project is around Rs 1,500 Crore.
The minister has confi rmed that a consultant has already been appointed to carry
out the study of the project. Hence, we can expect the work to be started soon.
Instances of half-legal and
half-illegal aren’t new in
Mumbai. Builders start their
ambitious projects with
infectious zeal prompting keen buyers
to invest in the houses. However, in
the later phase of development, they
fail to get necessary approvals. Thus
deeming the half part of the building
as illegal.
After the whole project is completed,
the BMC has earlier given out unau-
thorized status to it. But now it seems
that things might change. The authori-
ties want that for such buildings, at
least the legal part should be granted
an Occupancy Certifi cate instead.
The topic will debated in the BMC
offi ce on October 5 whether to make
it binding on the administration to give
an occupancy certifi cate to individual
fl at holders and fl oors constructed
according to the sanctioned plan of
the corporation instead of declaring an
entire building unauthorised. So now
if a project plan had 10 storeys, out
of which 5 fl oors have been granted
approval; then only those fl oors will be
given the OC.
However, this decision might have some setbacks as well. The main reason that
a building is granted an OC is to make sure that all the aspects of the project
are followed. It is the only way to confi rm that a building is safe and secure. So if
the developer doesn’t not follow the rules, he is not given an OC and the build-
ing doesn’t get regular water supply from the BMC, the water they are given
is charged at double the rate. While some believe this is a good move. It can
lessen the suffering of others.
Well, listening to the both sides of the coin, all we can do is wait and watch!
Squarefoot Realty I november 2015
11
RBI cutsrepo rate by50 basis points
Court orders todemolish illegal buildings in Navi Mumbai
“I don’t know what you want to call me, Santa Claus or hawk. My name
is Raghuram Rajan and I do what I do.” That is what Governor of the
Reserve Bank of India (RBI), Raghuram Rajan said in a conference
where the repo rate to 6.7 per cent from 7.25 per cent. This phenom-
enal move will give a boost to all the potential home buyers as it is expected to
bring down the home loan EMIs.
As base rates are directly connected to home loans, any reduction in them will
prove to be prove benefi cial to the borrower. Right now, the home loan rate
varies in the range of 9.75-10.25 per cent. This news has come as a shocker
Maharashtra Industrial Development Corporation (MIDC) along with the
City Industrial Development Corporation of Maharashtra (CIDCO) has
been directed by the Bombay High Court to get rid of all the illegal
buildings in Navi Mumbai. MIDC will be soon initiating the process of
demolition with the village of Digha in the city.
Two public interest litigations were fi led – one against illegal structures and an-
other seeking demolition of unauthorised buildings in the Digha area of satellite
township. Even after fi ling many complaints, no proper action was taken against
it for a long time. As per the report, there 99 illegal buildings in Navi Mumbai out
of which 90 are built in the MIDC area while the rest are located on CIDCO land.
Based of the report, the High Court ordered that MIDC and CIDCO should initiate
the proceedings of demolition of the buildings in accordance with Maharashtra
Regional Town Planning Act.
For remaining fi ve buildings, a meeting will be conducted to make a decision.
Meanwhile, another nine buildings, which were found to be constructed without
obtaining permission from authorities, were placed in the possession of the court
receiver. In the case of one of the nine buildings, which was taken over by the
court receiver, it was found that the construction work had been completed and
it had been occupied. Stating that this was in gross contempt of the govern-
ment’s order, the court said that “persons in possession of the property will have
to be removed”.
as everyone in the market expected a cut of 25 points, but the RBI went a step
ahead and has delivered an astounding 50 basis points reduction.
With the festive just around the corner, this slashed down home loan rates are
almost like an early Diwali gift. In recent times, the housing sales in India have
dropped down drastically. The correction in prime lending rates would help
stimulate the home buyer’s interest and spur the home-buying decision.
This will not only bring positive effect for the unsold stock, but it is will create
a favourable market for affordable housing. We are hopeful that PM Narendra
Modi’s Affordable Housing for all 2022 Mission will be achieved effortlessly.
Squarefoot Realty I november 2015
12
Since independence, successive governments in
India have planned various programs and poli-
cies to provide affordable housing to people,
especially the urban settlers. The fi rst National
Housing Policy was adopted in 1994. Following this, the National Housing and
Habitat Policy (NHHP) were framed by the urban development ministry in 1998.
Launched in 2005 with an aim to encourage and facilitate faster urban reforms
in the country, the Jawaharlal Nehru National Urban Renewal Mission (JNNURM)
envisaged constructing 1.5 million houses for the urban poor during the 2005-
12 in 65 cities identifi ed in this scheme.
Housing for all was the key focus of the National Urban Housing Habitat Policy
(NUHHP) framed by the Centre in 2007. The Rajiv Awas Yojana (RAY), Afford-
able Housing in Partnership (AHIP) to rope in the private players in co-operative,
fi nancial and local bodies and the creation of a National Housing Bank fully-
Successive governments have toyed with the ‘Housing For All’ notion
HOUSING FOR ALL BY 2022-
WILL IT REMAIN A DREAM?
Neha Chhabra &
Meena R. Prashant
subsidized by the Reserve Bank of
India (RBI) to provide fi nancial support
to housing fi nance institutions were all
aimed at achieving affordable housing
for various segments - lower, middle
and higher income groups, though
the main focus was on the lower and
middle class.
The programs and policies so far have
not brought in the desired results, but
the good news is that the new govern-
ment at the Centre has re-iterated its
resolve to provide affordable housing
for all by 2022. The issue is, however,
multi -dimensional.
Squarefoot Realty I november 2015
15
THE DEMANDAffordable housing denotes adequate shelter on a permanent basis and avail-
able within the means of various sections such as lower, middle and higher
income groups of the population.
According to the 2011 census, the population of India is 1,210.98 million. Of
this, 337.10 million (31.6%) live in urban centers and the remaining is spread
across the semi-urban and rural areas.
The housing stock in the urban India, as per the census of 2011, was78.48 mil-
lion for78.86 million households. The shortage, though narrow then, must have
widened today on account of new demands being generated by
(i) Migrant population
(ii) Expanding families
Shortage of housing stock in the urban centers was an estimated 18.78 million
units during 2012-17. It is estimated that by 2020, India would need 30 million
dwelling units. If we extend it by two more years (up to 2022- 13th FY Plan), add
another two to three million to the demand segment. Therefore, by 2022, India
may need 30-33million residential units.
Squarefoot Realty I november 2015
16
CHALLENGES AHEADIt will be a huge task to achieve this target within a period of seven years
from now. Scarcity of land, legal entanglements, shortage of supply of skilled
manpower, lack of easy fi nance options, infrastructure development, use of tech-
nology and improved materials are some of the serious challenges that will have
to be surmounted within a defi nite time frame. This will not be easy, considering
the political scenario in the country today.
Land availability: This is an important parameter of real estate activities.
Encroachment is rampant. So is mushrooming growth of slums on government
land. This deprives to a large extent the land available for development of hous-
ing in cities. More often, clearing these settlements leads to legal entanglements
and political upheavals as they are potential vote banks. This means that the
land parcels here are terribly underutilized.
“A better growth-based land management system to attract private invest-
ment in the housing construction industry is the urgent need of the hour. The
government must facilitate easy, hassle-free land transactions by simplifying
procedures of conveyance deeds, lease deeds, partition deeds and all allied
property-related documents,” said ArvindGoel, president of MCHI-CREDAI’sNavi
Mumbai unit.
The prices of private land parcels in the urban centers are sky high. Therefore,
it is highly probable that the private players in the real estate/ housing sector
would opt for luxury, high-end apartments. Naturally, it will cater to the economi-
cally upper layer of the society.
Shortage of skilled manpower: The construction industry is facing
tremendous shortage of skilled man-
power. The availability of the unskilled
labors in urban centers, though
suffi cient, is not regular as they are
migrants and tend to visit their native
places during harvest and festival
seasons creating a terrible seasonal
shortage.
The housing industry is said to be the
second largest employer of workforce
after the agriculture sector. The acute
shortage of manpower will have a
telling adverse effect on the housing
sector. Ways and means to create a
skilled labour force should be a prior-
ity. Proper incentives and implemen-
tation of labour laws applicable to
other industries may go a long way
in correcting the situation to a large
extent.
Workmen training programs aimed at
equipping the laborers with knowledge
to cope with the construction industry
must be explored.
Financial resources: Acute short-
age of availability of source of easy
fi nance has been a major hurdle faced
by the home buyers, especially the
economically-weaker section and the
middle-income class. The housing in-
dustry, on the whole, is hard-pressed
for funds. Public sector resources
alone cannot meet this challenge.
Recognizing this fact, the National
Urban Housing and Habitat Policy of
the Government of India has recom-
mended the involvement of multiple
stakeholders and public private
partnerships to meet the demand for
funds. The National Housing Bank,
created as a fully-owned subsidiary of
the Reserve Bank of India (RBI), has
been catering to their fi nancial needs,
to some extent, but much more has to
be done.The move by the Government
of India to allow FDI (Foreign Direct
Investment) should be vigorously
pursued.
Infrastructural development: “Timely delivery of effi cient infrastruc-
ture such as effi cient road network,
water supply system, better monitored
health and hygiene provisions,
markets, schools etc is a forerunner
of growth of housing clusters in the
urban centers,” said ManoharShroff,
secretary of MCHI- CREDAI’sNavi
Mumbai unit.
Constructing housing colonies near
Squarefoot Realty I november 2015
17
the industrial corridors would boost
demand for houses and this, in turn,
will act as an incentive for the private
players to invest in the housing sector.
This requires a clear and well defi ned
land allocation/ distribution policy,
taking environmental considerations
into account.
Use of technology & improved construction materials: In India,
traditionally-burnt clay bricks are used
for almost 98 percent of the build-
ing construction activity. In Kerala,
Karnataka and to some extent Tamil
Nadu, stones are used in the majority
of projects. With increasing aware-
ness about the environment and the
government restrictions on quarrying
within forests and other prohibited
areas, the supply of stone is gradually
depleting and these states too will
soon have to turn to bricks.
Brick fi elds consume high fertile
top layer of the agricultural farm
land,rendering it unfi t for cultivation
for several years. This impacts the
agricultural production. This burning
for baking bricks resulted in the emis-
sion of high-pollutant carbon dioxide
into the environment. It is highly
disturbing to note that to meet the an-
nual requirement of 170 million bricks
per annum in India, food production
that can feed an estimated 30 lakh
Indians for the whole year is said to be
sacrifi ced.
Therefore, it’s time to look for some
alternative material to gradually
replace the bricks. Autoclaved Aerated
Concrete (AAC) blocks produced in big
plants or more effi cient and economi-
cal alternative Cellular Lightweight
Concrete (CLC) blocks can be alterna-
tives. The use of these kinds of ma-
terials should be encouraged without
being vigorously hostile against the
brick manufacturing sector. Replace-
ment of the bricks should be gradual
in order to avoid the confl ict in the
highly-labor intensive brick-making
business.
India still depends upon labour-
intensive traditional methods of
construction. A change over, to begin
with, partially to mechanized method-
ologies is called for. Pre-fabrication
methodologies can go a long way in
this respect but how far this will be
adaptable in the Indian conditions is
to be seen.
Squarefoot Realty I november 2015
18
WHAT SHOULD BE DONE TO
ACHIEVE THE TARGET?Reports suggest that the launch of new residential units has dropped in Banga-
lore, Kolkata, Mumbai and Delhi NCR owing to a dip in the demand, especially
in the lower segments. New housing units launched in the fi rst quarter of 2014
stood at 55,500 as against 24,700 in the corresponding period in 2015.Unless
the situation is reversed, the ambitious project ‘HOUSING FOR ALL BY 2022’ will
remain a dream.
Corrective measures in the supply and demand side will have to be formulated.
On the demand side, the government should create a database related to the
needs and formulate the policies for effective fi nancing to help the needy. Re-
vamping the mortgage system is a must. Housing clusters should be, as far as
possible, near the place of work. Adequate and effi cient transport and communi-
cation network should be available.
It is necessary to encourage develop-
ers to construct affordable houses.
Easy land transaction system by
streamlining the land administration
will encourage the developers. Land
records should be improved and a
rational approach towards coastal
regulations should be adopted. The
private sector can participate in the
way of technological solutions, project
fi nancing and delivering.
These measures will make the dream
come true.
Squarefoot Realty I november 2015
19
JumeirahA luxury hotelwith a d i f ference!
The Jumeirah Group
established in
1997 with an
aim to provide
top-notch luxury to people through a
world-class chain of hotels and resorts.
Staying true to its slogan of ‘Stay
Different’, Jumeirahdelivers imagina-
tive and exhilarating experiences in
culturally-connected environments
offering a thoughtful and generous
service. The elegance of Jumeirah is
unfathomable. The world-renowned
Burj Al Arab is today known as the
world’s most luxurious hotel and the
symbol of Dubai.
Jumeirah Group also runs the luxury,
serviced residences brand Jumeirah
Living, the spa brand Talise, Jumeirah
Restaurants, Wild Wadi Water park,
The Emirates Academy of Hospitality
Management, and Sirius, its global
loyalty programme.
Categorized into three different areas,
Jumeirah 1, Jumeirah 2 and Jumeirah
3, the magnifi cence and grandeur of
the place along with the picturesque
setting attracts tourists from all around
the world. Once a major fi shing and
pearl farming centre, Jumeirah over the
years has evolved into one of the city’s
principal residential areas, particu-
larly among elite families and western
expatriates.
Having won numerous travel and
Sonal Waykar
Squarefoot Realty I november 2015
21
tourism awards, Jumeirah has many
feathers in its hat. The chain of hotels
in UAE includes the Burj Al Arab,
Jumeirah Emirates Towers, Jumeirah
Beach Hotel, Madinat Jumeirah,
Jumeirah ZabeelSaray in Dubai and
Jumeirah at Etihad Towers in Abu
Dhabi.
Global Hotels include Jumeirah
Dhevanafushi and Jumeirah Vittaveli
in Maldives, Jumeirah Himalayas Hotel
in Shanghai, Jumeirah Frankfurt in
Germany, Jumeirah Grand Hotel Via
Veneto in Rome, Pera Palace Hotel
Jumeirah in Istanbul, Jumeirah Carlton
Tower and Jumeirah Lowndes Hotel in
London. It also includes two fi ve-star
luxury serviced residences: Jumeirah
Living World Trade Centre in Dubai
and Grosvenor House Apartments by
Jumeirah Living London.
The hotel’s expansion plans include
projects currently under develop-
ment in United Arab Emirates, Kuwait,
China, Jordan, Qatar, Thailand, Egypt,
Morocco, Indonesia, Azerbaijan and
the Caribbean. Also, its future plans
are mapping India as one of the
locations.
The group plans to foray in the coun-
try by 2019 with its fi rst operational
property under the Jumeirahbrand in
Mumbai. Along with that, they plan
to develop other property in Goa.
Jumeirah Group president and Chief
Executive Offi cer, Gerald Lawless
confi rmed the company is contem-
plating to target different locations like
Chennai, Bangalore, Chennai and New
Delhi for further plans.
The hotel will introduce a brand called
‘Venu’ in India. Their vision is to build
75 Jumeirah Properties and 25Venu
properties across the world by 2023.
Squarefoot Realty I november 2015
22
Director of KVK Constructions,Mr. Prashant Thakur in conversation with Pranjal Bhandarkar
about how the industry anddevelopers need to work together to provide
all a better lifestyle.Squarefoot Realty I november 2015
23
According to you,
how can we achieve
the goal of fulfi lling
the mission of creat-
ing 100 Smart Cities
in India?
It depends on which authority takes
up on the smart city project. Ideally
speaking, he must be knowledgeable
and well-travelled. I read reports few
days back that experts from Tel Aviv
are providing us guidance. But before
seeking suggestions from others, we
need to upgrade our way of thinking.
As we know, CIDCO has announced
its ambitious project NAINA which is
an excellent plan. The team leading
the project is extremely brilliant. But
what about that team or the leader
is replaced? Will that project still sail
the same way? I think this wrong. The
whole system should be accommo-
dated in the project. Everyone should
be passionate to bring a change for
our betterment. For smart cities, we
need to dig into minute details for
proper execution. Here CIDCO has
not allotted any space for multi-storey
parking which is why bikes are parked
on the roads. I have traveled to many
cities, but I fail to understand the
Indian mentality. We complain about
everything, but we ignore to acknowl-
edge the fact that we ourselves are
responsible for this state of events.
Every time you cannot blame the
government. However, Smart city is
a great initiative and I am glad that
we are on our way to development.
But people passionate about the plan
should be leading the project.
Problems that we are facing today
will turn so grave in next 5 years.
There are no proper parking facilities,
drainage system and water provi-
sion beyond Panvel. There are borewells in Panvel. So, tell me will a borewell
be enough for a 40 storey building? What about drinking water? There are two
schools nearby – one is for blind and other one is for mentally disabled. Since,
special attention kids have no idea how harmful the water is for their body, they
have started developing rashes. I have the test reports conducted on the water
there. All the projects advertise about amenities, clubhouse, pool, gym, etc. But
what about the day-to-day needs like drinking water, drainage, sewage, basic
transportation, schools and safety for women? I believe that before giving the
permissions to the all the builders, the authorities of MMRDA should think hard
about who will provide all the basic amenities to the residents of that building?
On what grounds did they give permissions to the upcoming projects in Panvel?
Here the process works the other way round – fi rst the building is constructed
and later the facilities start coming up.
If you take a look at Ulwe, development started in 2007 and since last 8 years,
nothing has been achieved. My project in Ulwe was completed in 2010, but my
building received water provision in 2012. There is still no sign of sewage plant
in Ulwe. How can you call that a smart city?
For a smart city, roads should be minimum 100 meters long and every single
road should be 20 meters. No cutbacks. If government wishes to fulfi ll its ambi-
tious projects like smart cities, then they must hire an extremely brilliant, well-
Squarefoot Realty I november 2015
24
learned and passionate people with a
vision on the panel as well.
We travel to foreign locations for
holidays and praise the countries. But
how many of us have given a thought
to why these countries are good? Did
you know Singapore is the 5th largest
man-made plantation? Singapore
doesn’t have its own water; they
borrow it from Malaysia. But still they
managed to achieve grand because
every person in the country is equally
keen on developing their country for
good. On the contrary, in India, we
plant trees only one specifi c occasion
like green day or environment day. But
nobody bothers to take care of those
plants after that day. I think it is high
time we too should improve our vision
like our international counterparts.
Builders too need to stop thinking only
about their profi ts, but what is good
for the society.
What are the basic
amenities that make
a city, smart?
If you plan a smart city with 30
fl yovers, you have to build them
fi rst. The authorities give excuses like
they don’t have budget for the same,
then you make a budget fi rst. If you
are going to allocate certain areas to
certain builders, then take the money
from them to build all these basic
necessities in 5 years. After that, give
them the permissions. People prefer
Navi Mumbai because it is crowned
as the third best livable city in the
country. However, CIDCO, on the other
hand, lacks planning. The current MD
of CIDCO has been taken upon his
sleeve to enhance the conditions of
the city. But the problem is that the
next person serving the 3 year tenure
might not be the same.
Have you participated
in any real estate
events or exhibi-
tions? What are your
thoughts about the
same?
No, I haven’t, but it is a single
platform where you can
discover all the projects. Every person
doesn’t have the time to visit the
builder’s offi ce or to read newspaper
ads. So we should promote such
events meticulously whether you
participate or not as it benefi ts all the
buyers.
Reports suggest that property rates will
witness a 40% fall. Is it true or just another
rumour? What could be the possible reason
behind it?
The next two years are very crucial for real estate as the supply is in
excess in comparison to the number of buyers. 90% of houses remain
vacant. There could be two reasons behind it. One is the location, maybe the
buyers are not happy with the location the projects are coming up. Secondly,
the budget is too high for them. Even two average salaried person together
cannot afford to buy a house in today’s world. Also so many different projects in
the market tend to confuse the buyer. Only CIDCO is being able to make sales
because of its credibility.
According to you, is it the right time to in-
vest?No. Not at all. I cannot lie to you saying that this is the right time as the new
International Airport is coming up soon. Do you know Airport will at least take
10 years? Also, the airport is not the need of a common man. Railways, buses,
bikes, and autos are our basic transportation facilities. The airport will create
plenty of job opportunities, but that won’t increase the property rates. The cur-
rent market rate of Panvel is Rs. 7500/-, but what is the place offering for that
money? There are no good gardens, clubs or restaurants. Karanjade, Ulwe or
other suburbs are developing with better facilities than Panvel.
What are your upcoming projects?
My projects are in Ulwe, Karanjade, Dronagiri and Panvel. But my problem
is that we have to stop struggling with CIDCO for basic facilities. For
my project in Ulwe, they have asked me to construct a septic tank as they don’t
have one. After paying lakhs of infrastructure charges, I need to now build septic
tank. Whereas in Karanjade, my project was completed in Novemeber 2014, but
till date, CIDCO has not provided water in the building. We are facing problems
in the projects built inside the CIDCO property, can you imagine the hell other
projects in the rural areas must be going through? MMRDA’s responsibility is to
give you permissions, it is CIDCO’s job to provide you with all the facilities. And
fi nally we will blame the government.
What modern equipments are used in your
projects?
In my projects, there is a solar system for water and electricity as well. Also,
there is a maximum plantation in all my projects. Not only ground level, but
also vertical. We are focusing on constructing a building that is eco-friendly.
Squarefoot Realty I november 2015
25
With each new day,
residential
spaces are
cropping up
with new amenities and modern technolo-
gies making our lives easier. However, it
doesn’t give the builders a pass to sway
away from the basic requirements. The
most important aspect of this is offering
a premium quality of construction. Apart
from catching a fi re, the worst thing that
could probably happen to your home
is having foundation problems. Having
a strong foundation is what keeps the
building standing tall even in the harshest
weather.
The biggest reason behind foundation
issues is water. If there is wet soil present
beneath the foundation, it pushes the
structure to lose strength in future. There
is a common misconception that leakage
issues can only be found in old construc-
tions. Whether your home is new or been
around for years, waterproofi ng is equally
important.
One of the biggest factors affecting the
longevity of the structure is a waterproof-
ing. A botched up job can not only affect
the selling value of the house, but it can
also own personal property and valuable
assets along with ruining the paint work.
Thus, entangling you in a lifetime vicious
circle of repair troubles which will cost you
heaps of money.
The biggest hurdle is that typical concrete
is not waterproof. Though it keeps the liq-
uid out, water vapour can still easily pass
through it. Thus to prevent this problem
and to build a successful structure, it is
essential to keep the water away from
concrete foundations and assure it doesn’t
move through the concrete.
Is your home ‘leaking’out your peace?
Sonal Waykar
Squarefoot Realty I november 2015
27
• Invest in proper grading around the house. Grading means creating a sloping earth away from the house which
will allow surface water to drain away from the house naturally.
• Regularly clean the gutters and keep an eye if it works fi ne. Also, the gutter should drain far away from the
house. The farther, the better.
• When you dig the house before construction, check how much water runs into the hole to know how much
water will naturally be around the foundation. If it turns out to be a lot, keep the house as high as you can from
the ground.
• Have one rule: There should be a drainage pipe around the window wells. Then install 6 to 8 inches of crushed
stone at the top of the window well and keep the window well clean of mud and debris. If you don’t do this, water
can be trapped in the window well and it can fi nally end up leaking through your basement windows.
Here are afew helpful tips to keep
the waterproofing in the house in check...
Squarefoot Realty I november 2015
28
Navi Mumbai, a bustling city, has emerged as a nerve
center of economic activities with IT parks, heavy
and medium industries located in the Thane-Belapur
industrial zone and much more. Said to be the largest
one in Asia, this industrial zone is situated just 30 kms away from Mumbai, the
fi nancial capital of India. With educational institutes, mega hospitals, projects like
Metro, international airport and the Mumbai Trans-Harbour Link (MTHL) on its
way, Navi Mumbai will only grow bigger and better in future.
Realizing the potential of tremendous growth this planned city has and the need
to provide suffi cient and effi cient socio-economic infrastructure, the government
is focusing on providing the much-
needed transport and communication
network here.
The 27kms Seawoods-Uran suburban
railway link has assumed priority now.
The project, though cleared in the
right earnest initially, has encountered
some problems in land acquisition.
However, top offi cials of the City and
Industrial Development Corporation
(CIDCO) and Central Railway (CR) are
taking due interest and giving neces-
sary boost to solve these problems.
4-5 kms of land acquisition is still
pending, as some land falls under
the forest department and some part
is private land(around 25 hectares),
informed a CIDCO offi cial.The offi cials
are trying hard to clear the formali-
ties of the transfer of the forest land
Seawoods rail link project at snail’s pace
Since land acquisition is
pending, speed of work of
the project is not gathering
speed
Neha Chhabra &
Meena R. Prashant
Squarefoot Realty I november 2015
30
Mumbai Airport Infl uence Notifi ed Area
(NAINA)and the new commercial hub
being constructed at Seawoods with
the new airport.
“The deadline for this ambitious proj-
ect has been extended from Decem-
ber 2016 to 2017. The phase 1 of the
project is expected to be completed by
December 2015 for an approximate
cost of phase 1 is Rs 537 cr. The
phase 2 of the project is expected to
be completed by June 2017 and the
budget allotted for the project is 1276
cr,” said an offi cial from CIDCO.CIDCO
has released 72 cr as on November
26, 2014, he added.
Ranjanpada to Uran railway expansion
work for double line has commenced,
he confi rmed. CIDCO has signed a
tripartite agreement with CR and the
state government in 2011 to under-
take this ambitious project to ease
commute. The ten stations planned
are Seawoods, Sagarsangam (earlier
known as Kille Junction),Targhar,
Bamandongri, Kharkopar, Gavan,
Ranjanpada, Nhava-Sheva, Dronagiri
and Uran.These are all upcoming
business centers.
The three main stations Nhava-Sheva,
Dronagiri and Uran are free of hurdles.
The rail route will ply over a bridge
crossing the Palm Beach Road, thus
avoiding any destruction of man-
groves.When complete, this link will
immensely relieve the stress on Navi
Mumbai’s existing road transport
network and provide a signifi cant eco-
nomic drive for growth to the regions
in and around the route. This will
defi nitely boost the real estate sector
in this suburb.
bordering villages such as Chirle and
Jasai. CIDCO is pursuing the issue
with Raigad collector and is hopeful of
an early transfer.
8.5 kms earthwork has been
completed between Seawoods and
Kharkopar, he said. Once in place,
suburban trains will run from Belapur
to Uranthrough a ‘Y’ junction. It will
also integrate new townships like Navi
-Uran progressing
Squarefoot Realty I november 2015
31
With each day, housing spaces are becoming costlier and
smaller. The problem faced worldwide by all is how
to decorate the home interiors without cramping up
too much space. If you are one of those, who live in a
tiny apartment, but still haven’t fi gured out how to decorate your place, then this
article is exactly what you need.
Multipurpose furniture items are in vogue now. Transforming furniture not only
saves space, but they elevate the elegance of your house in a creative manner.
The designs are adjustable according to your home. There are so many clever
options available, however you just need to have that keen eye to fi nd the one
that will suit your dwelling.
Below are a few designsthat will surely pique your curiosity.
1. A Shelf that hides chairs and tablesThough it might appear as a run-of-the-mill storage shelf, it smartly lets
you fi t a few chairs and tables into it. So whenever you have any guests
over, all you need it to remove the items and you have a coffee table ready.
2. Transformable ottomanAt fi rst glance, it looks like a regular ottoman that you can place besides
your sofa set. But it can be broken down into fi ve different seats. Each
panel acts as a cushion for each side of the ottoman. Quite like the Russian
nesting dolls!
Transforming
Sonal Waykar
Squarefoot Realty I november 2015
32
3. A Bada tableNot everybody has the luxury of keeping a sofa set and a dining table
together in the living room. It is a tough choice between the two. But no
more! This Bada table gives you a table to have your meals together and a
folding section can be lowered to turn it into a loveseat.
5. Ping Pong table doorThis one is for all the sports enthusiasts – A door that magically transforms
into a Ping Pong table! You don’t need to scratch your heads on fi nding
ways to spend time when your friends are over your place the next time.
4. Sofa bunk bedWhen you live in a small apartment, the fi rst thing you worry about when
your family or friends come to stay over is ‘What about sleeping arrange-
ments?’ This sofa bunk bed answers your question. It easily converts into a
bunk bed giving you more space options for sleeping.
your interiors
Squarefoot Realty I november 2015
33
Expresswayto connectMumbai andNagpur !
A trip from Mumbai to Nagpur
has always been a tiresome
journey. However, the State
Government decided to ease
all your troubles by announcing to
build a highway connecting the two
cities. Known as Maharashtra State
Highway, it will slash down the time
taken to travel between Mumbai and
Nagpur to mere 10 hours!
Along with Nagpur, it will connect
Aurangabad with the capital city of
Maharashtra via the same-link route.
Surprisingly, it will take less than the
distance covered by NH 6. It is said
that the highway will save 65 km of
distance between the two cities. If de-
veloped with 4 lane basis, as declared
earlier by the State Public Works
Dept., this highway can save more
Sonal Waykar
Squarefoot Realty I november 2015
35
than 8 hours of time between Nagpur
and Mumbai, as compared to NH 6.
Expected to be completed by the
end of 2019, the project received its
approval on 23 Dec 1999. However,
it was only by 2011 that almost 60%
of the work was fi nished. The Express
Highway is expected to share the
major direct road traffi c between
Mumbai and Nagpur, including almost
30%-40% of traffi c from NH 6.
Along the way, it will connect the
industrial places at Wardha, Buti-
bori, Jalna, Amravati, Shendra, Waluj,
Chikalthana and Sinnar. This will help
to boost the employment in this belt
of Industrial area. For tourists and
travelers, it is a great piece of news
as they can now explore the areas
of Sindkhedraja, Karanja (Lad), Verul,
Sewagram, Lonar and Shirdi.
The total length of the expressway is
700 kms. The highway is the part of
Maharashtra State. The highway was
built after the approval received from
government for connecting Nagpur
and Aurangabad in the state of Maha-
rashtra to Mumbai. The total worth of
this project is Rs. 3000 crore.
The government’s decision has
several signifi cant socioeconomic
and political aspects. The honour-
able chief minister of Maharashtra,
Devendra Fadnavis announced this
project in the state legislative as-
sembly. He explained the sole motive
of the expressway is to improve the
road communication, crisscrossing
and connecting backwards regions.
Adding to drastically cutting short the
distance between Mumbai-Nagpur to
mere 10 hours travel, it will connect
the backward regions of Vidarbha,
part of North Maharashtra and
Marathwada.
The execution of the plan will be car-
ried out in two phases. The deadline
decided for the completion of the
project is 2019. The route covering
Mumbai, Aurangabad and Nagpur will
have CCTV installations, optic fi bre
and educational institutions. In the
fi rst phase beginning 2015 end, it
will complete 4 lanes and later in the
second half six lanes.
During the meeting of the board of
directors of Maharashtra State Road
Development Corporation (MSRDC),
Ernst and Young was appointed as the
consultant for the project.
Not to repeat the accident history
of the Mumbai-Pune Expressway,
MSRDC has also decided to install
Brifen Wire Rope Safety Fence along
the divider at the 95 km expressway.
These ropes will be helpful in holding
back a vehicle during any mishap that
could possibly spiral out of control into
oncoming traffi c from the opposite
direction. Along with it, there will
be washrooms every 20 km for the
convenience of the travelers.
At the board meeting, it was also
decided that a trauma centre will be
construction on the highway at Ozarde
Village. The project also incorporates
an air ambulance service and four
Quick Response Vehicles for accident
victims.
However, the question of the hour is –
how would the government fi nancially
implement and make it feasible?
Well, only time can answer that
question. We can only hope that the
project will help to further enhance
the development of the golden triangle
of Mumbai-Pune-Nashik economically
and develop the backward regions of
the state.
Squarefoot Realty I november 2015
37
In an exclusive interview with
Pranjal Bhandarkar, Chief Architect of Adhiraj Constructions,
Mr. Christopher Gomes explains that
planning and execution isthe integral part
Squarefoot Realty I november 2015
38
of any projectWhat new innovations in building technology
are you using to boost construction? Currently, we are using a technology called Mivan that is used in formwork and
helps to reduce the number of days in slab cycles. It also boosts the quality of
concrete as well as the construction. Mivan is one of the major innovations that
work best for high rise buildings that looks after every issue that is encountered
during the construction. Our buildings are G+55, so we tend to use this modern
technology. We also prefer using environmental friendly materials and innova-
tions in our specifi cation in plumbing and glazing.
How did you emerge as a trend-setter in the
real estate fi eld?Yes. Adhiraj group has established a name in this area in Navi Mumbai. We have
been in the business for last 10 years. We have built a residential complex and
later we extended it by adding Phase II to it. Recently we launched a project
of 40 acres that will be a complete township offering a different lifestyle and
holistic outlook to the design.
Is the lack of skilled labour affecting the
industry?Yes, it is. To provide a solution, we have to adopt technology that helps us
overcome these issues. As we know, the construction industry is immensely
labour-intensive. Hence we must keep looking for ways and means to reduce the
labour component by industrialization.
Time and again, builders have demanded
single-window clearance. Will that ever see
the light of the day? It is on the wish list for every developer in the industry. However, if we are unable
to achieve it, our next preference should be implementing a transparent and
stable frame of rules that all builders can adopt. CIDCO is fortunate that since
Navi Mumbai is a planned city, the framework of rules is set and they don’t
change so often. But in urban areas like Mumbai, the rules keep changing every
now and then affecting everybody in question.
People constantly complain about the delays in construction, which is why it is
ideal to have a single window clearance. If not, the next best thing we can hope
for is a speedy and transparent process for rules.
Tell us about your upcoming projects? As I earlier mentioned, we have launched a 40 acre residential complex project.
It is planned to be built as a mini township which will have 6000 units of 2 BHK
and 3 BHK catering to needs of all. The project also includes shopping malls,
active and passive recreation zones for public and relaxing spots for senior
citizens.
In near future, we also aim to open schools and other amenities around the
place. The building is a G+55 storey project on the periphery of Kharghar. The
city has good connectivity in terms of railways and roadways both. Its close
proximity to Navi Mumbai Airport also makes it a good catch.
In past few years, there has been infl ation in real estate prices and areas like
Kharghar are considered as a great potential. The real reason behind this rise in
prices is that western suburbs have slowed down a bit and also the quality of life
there is slightly different from Navi Mumbai. Also, in areas like Malad or Borivali,
connectivity is an issue. Hence, Navi Mumbai is rising as a star in real estate
sector off lately.
Squarefoot Realty I november 2015
39
Navi Mumbai
Metro, a
rapid transit
system,
planned and being executed by CIDCO
when complete will act as a catalyst
to the faster growth of the cousin city
of Mumbai.
Envisaged to connect CBD-BELAPUR
to KHANDESHWAR, this 23 odd Km
route will be completed in three stag-
es and will consist of 20 stations. The
fi rst section comprises of the 11.1 Km
Belapur – Pendhar division. Further
ahead is the 8.35 Km of Khandeshwar
– Taloja part and fi nally ending with
the 2 KM Taloja – Pendhar intercon-
nection corridor.
The fi rst stage involves construc-
tion from BELAPUR - PENDHAR
- 11.10 Km having 10 railway
stations namely Belapur railway
station, Sector – 7,Belapur Sci-
ence Park, Utsav Chowk,Sector-
14,CentralPark,Pethapada,Sector-
34,Panchnand and Pendhar
approximate cost Rs.1,984 Crore.
The 8.35 km KHANDESHWAR-
TALOJA MIDC, costing approximately
Rs. 1,605 Crore will be the second
stage. Khandeshwar railway station,
Sector-10, Kamothe, Sector- 2E
Kalamboli, Sector-7EKalamboli, Sec-
tor- 10E, Kalamboli, Kasadi and two
railway stations in the MIDC area are
the stations planned.
Costing (approx.) Rs. 570 Crore, the
two above corridors shall be joined
together between PENDHAR & MIDC
with a 2.2 Km link.
Maharashtra’s Chief Minister, Prith-
virajChavan laid the foundation stone
of the Metro on May 1, 201, while the
general foundation work of Phase I
commenced in October 2011.
The construction work on the phase I
is expected to be completed by 2017.
The phase had been approved Rs
2800 crore, out of which works worth
Rs. 2,200 crore has been accom-
plished. Remaining operations worth
Rs. 500 crores is expected to be
concluded soon.
The entire project is expected to be
completed within a period of fi ve
years. The METRO will connect the
NAVI-MUMBAI international airport.
The original deadline of the Belapur-
Pendhar section was March 2014
which however CIDCO failed to deliver
due to the expansion in the project by
increasing the width of the coaches
from 2.9 meters to 3.2 meters so as
to align with the Mumbai Metro.
As per the CIDCO offi cials, more than
70 percent of civil work of via duct is
fi nished, while around 55 percent of
work at the 11 stations is still under
its way. Alongside, works on the Metro
Depot at Taloja have begun too, of
which 15 to 20 percent is already
accomplished.
Further ahead, CIDCO plans to extend
the Metro service up to Kalyan and
Ulhasnagar to improve the connectiv-
ity between these suburbs and Navi
Mumbai.
This will complete the project which
is expected to be highly economically
viable, since it passes through highly
densely, populated human settle-
ments.
When completed this Rs. 4,163
Crore METRO RAIL CORRIDOR will
connect the second METRO line at
MANKHURD.
Metr o Calling!Metr
Squarefoot Realty I november 2015
40
Established as an autonomous
self-regulatory body in 1998,
National Real Estate Develop-
ment Council (NAREDCO)
strives to be the collective force
infl uencing and shaping the real
estate industry. NAREDCO acts as the
apex national body, providing a single
platform for the Government, industry
and the public to discuss various
problems and opportunities with an
aim of fi nding a speedy resolution to
all the issues. It was formed with the
mandate to induce transparency and
ethics in real estate business and
transform the unorganized Indian real
estate sector into a matured and glob-
ally competitive business sector.
NAREDCO works to create and sustain
an environment conducive to the growth of real estate industry in
India, partnering industry and government alike through advisory
and consultative processes.
While a non-profi t body, APREA represents the real estate invest-
ment industry in Asia-Pacifi c. The organization also provides
its views to governments in order to help forge a more globally
competitive real estate industry. APREA has chapters in eight coun-
tries - Hong Kong, Japan, Singapore, Australia, India, Philippines,
Malaysia, and China.
In association with APREA, NAREDCO hosted a two-day Real Estate
& Infrastructure Investors’ Summit in Mumbai on October 5 – 6,
2015. This summit will provide a pivotal platform for real estate
developers to interact with investors and global leaders, including
the Government of Singapore Investment Corporation (GIC), KKR,
Cornerstone, Morgan Stanley amongst others.
To bridge the huge capital requirement of the industry, we need to
attract global funding for the Indian real estate sector. The basic
aim in hosting this summit is to create a perfect platform bringing
together PE players from across the globe and
Indian developers on the same dais. This summit
will raise awareness about the ongoing moderniza-
tion of India’s fi nancial systems and the nation’s
economic fundamentals.
Along with many bigwigs, honourable Chief Min-
ister of Maharashtra, Mr. Devendra Fadnavis too
graced the event with his presence.
NAREDCO & APREA REAL ESTATE AND INFRASTRUCTURE
INVESTORS’ SUMMIT 2015
Squarefoot Realty I november 2015
42
Day 2 of the summit primarily
discussed issues concerning policy
initiatives and foreign investment
norms, signifi cant opportunities and
challenges that the real estate sector
presents, key investment themes
prevalent in the real estate sector and
India’s standing as a global invest-
ment destination.
There were interactive sessions re-
garding how Affordable Housing could
be a potential game changer for the
industry, is innovation, aspiration and
promotion suffi cient to make potential
customers happy for luxury or second
homes. Session 2 was about sharing
views on how to promote suburban
townships, innovative fi nancing and its
mechanisms.
The event was a grand success.
Several corporate honchos from the
construction and urban infrastruc-
ture industries, urban planners, top
developers, private equity fi rms,
housing fi nance companies and banks
also joined the summit to share their
thoughts.
Sonal Waykar
Squarefoot Realty I november 2015
43
Buying their own house
has always been a dream
of every individual in this
world. However, due to
obstacles in their paths, they stuck
with the age-old question of renting
over buying. Even after so many
years, the answer to this question
is not something that comes
easily to anyone. Be a beginner or
a professional, this dilemma has
managed to stump everyone’s
brains out. For some, renting is a
wasting your money as the same
amount can count to buying a
huge asset for self, while for others
renting a place in close proximity
to their work and convenience of
other needs is what matters more.
With property rates shooting up
every single day, most people opt
for leasing a place. For example,
in a suburb like Kharghar, a 2BHK
would cost you no less than 1
crore. Even if you wish to buy such
a house, it will dig a hole of 1lakh
as EMI in your pocket every month.
The same house is available for
a rent of Rs. 12000. So people
The big debate:
TO BUYOR TO RENT?
believe it is a wise decision to take a house for rent.
On the other hand, if you plan to live in one place for a long term and the real estate
sector offers a steady appreciation in the property rates, one would suggest you
invest in buying a house instead. Also, buying your own house imparts a sense of
stability and security since many a times you have to move house every 2-3 years
as landlords are reluctant to offer long-term leases.
Even after studying both sides of the coin hard enough, what decision you might
take depends on your personal circumstances at that moment. However, SquareFoot
is here to help you make that decision by asking you a few questions.
Sonal Waykar
Squarefoot Realty I november 2015
45
How long do you planto stay in the same place?The answer to this question is pretty obvious. The longer you stay, the better you
are off buying. So anywhere more than 5 years, don’t rent. Buy.
Is your job secure? If your professional life isn’t stable and you are unable to manage your monthly
expenses properly, we wouldn’t suggest you to chain yourself into a mortgage.
Buying a house and selling it a year later to relocate is likely to cost you some
money.
What about down payment?So, your monthly salary can bear the burden of EMI, but have you given a
thought about down payments? It is better to buy only if you have enough sav-
ings to pay a higher down payment as it means a lower mortgage payment.
Do you have money for repairs?Once you buy a house, gone are those days when you make a call to the owner
and he takes care of that broken tiles, leaking taps or cracked roofs. Even new
homes sometimes need repairs. Make sure you are capable fi nancially as well
as mentally to take care of them.
The big debate:
TO BUYOR TO RENT?
Squarefoot Realty I november 2015
47
Director of Qualcon,
Deepa Mehta tells Pranjal Bhandarkar
Why Qualcon is one of thepioneers in the real estate industry.
Squarefoot Realty I november 2015
49
Even with modern technologies creeping up
the construction industry, buyers still
consider Vastu or Feng Shui before buying
a house. How do you incorporate their
requirements into your projects? We, ourselves, are stern believers of Vastu. Hence, a great amount of attention is
given while designing, that our projects are Vastu compliant. 90% of our clients
ask for homes designed as per Vastu norms. Hence, generally, it does not pose
a problem with our customers. However, if we come across buyers who are not
into Vastu or Feng Shui, we have a few fl ats designed for them as well.
There are times when a customer is not
satisfi ed with the home or has any complaint
regarding certain issues. What is your
approach to deal with such scenarios?Yes, every developer faces such situations. Every buyer comes with a different
approach and have different choices. It is our responsibility to try our best to
meet their requirements. However, at times due to unforeseen or unavoidable
circumstances, it happens that we fail to deliver for some clients. But, we
ensure that those errors are rectifi ed and are not repeated again.
Like every sector, real estate too is
expanding with many developers
launching their projects. How do you
cope with the competition? I don’t think we are in any race or trying to ace the competition as the category
that we are catering to have a huge requirement. And since supply is less than
demand, we are not facing any competition. Qualcon itself has a reputation in
the market.
Do you think that the real estate scenario will
improve if RBI eases norms?Defi nitely yes. Many people are fi nding it diffi cult to buy their dream homes
due to this problem. RBI’s strict rules and regulations are posing a hindrance
in getting loans. But if RBI decides to ease down their norms, it will change the
current scenario in a positive way.
Please tell us about Qualcon’s upcoming
projects. We are currently working on an upcoming project in Rasaini. Following the smart
housing concept, the project offers budget homes that everyone can afford.
Starting with merely Rs. 6 lacs, it makes buying house easily accessible for all.
Squarefoot Realty I november 2015
50
HAVELLSPLANS TO MAKE
SMART CITIESSHINE!With
technology making our lives easier every
day, the concept of smart cities is the perfect
solution to the problems we face at our
residential places due to improper planning.
Along with being eco-friendly, they make living more comfortable.
On a global level, smart city is not a new term. Barcelona is one such
smart city. Today, you can witness the street lighting and water fountains
with remote control access. Also, they have developed a programme
that enables watering of green spaces across the city remotely. Even
the UAE is setting an example by building a city called Masdar that will
promote carbon neutralization and zero waste environment.
Sonal Waykar
Squarefoot Realty I november 2015
51
Following the trend, India doesn’t want to fall back. A few smart cities are
already in the making across many states, namely Kochi Smart City, Wave
Infratech’s 4500-acre smart city near New Delhi, Naya Raipur in Chhattishgarh
and Gujrat International Finance Tec-City in Ahmedabad.
Last year, when Prime Minister Narendra Modi announced an ambitious project
to build 100 smart cities across the country, many electrical companies saw
this as the perfect opportunity to expand their business. One such company is
Havells.
The electrical goods manufacturer wishes to lighten up the whole country by
Squarefoot Realty I november 2015
52
capitalizing on government’s smart
city projects. They have developed
a strategy for introducing new
technology-driven lighting products
and home appliances.
The CMD of Havells India, Anil Rai
Gupta fi nds a great potential in the
Smart City project and is hopeful that
it will open up a new world of endless
Havells currently hold high hopes for light-emitting diode (LED) products and is
expected to generate revenue of around Rs 600 crores from them in two years.
There is an estimate of a 14% rise in the revenue of the lighting segment as
compared to last fi scal’s 24%.
Gupta said that the company aims to reinforce the strategy for its position in the
switch gear market. Out of the two brands, Havells and Standard, they recently
launched Miniature Circuit Breaker under the former name. Of the Rs 2000
crore switch gear market, Havells’ share is about Rs 400 crore. However, the
company targets Rs 650 crore.
avenues for the company to do busi-
ness. The key area of focus for Havells
is Home Automation, where fan
and light sources can be wirelessly
controlled from anywhere in the world.
They are working on partnerships
to get hold of software and network
support from other international fi rms
for the project.
Squarefoot Realty I november 2015
53
From an architect’s point of view,
what is the key to designing an
affordable home? In suburban
localities, space is limited, how can
a developer design an affordable
house in the city?For designing any project, you need to have a vision that
comes from when you understand the needs of the customer.
So that’s the start point for any construction. If we talk about
Omkar as a brand, whatever we do, it starts with a vision.
Now in a place like Mumbai, the space is scarce and it’s really
diffi cult for designing an affordable house because as you start
expanding vertically, the cost of construction keeps on increas-
ing. It has to be balanced with faster construction, optimal
specifi cations, and effi cient design. Today, any construction,
we want to fi t in the city has to be very effi cient and faster. We
have the best of the structure designers working in India today.
People who know how to design World Trade Centre, Burj
Khalifa are in India. We are having best of the world in India.
How do we use them in a right manner? That’s what we as a
developer needs to be conscious about. So affordable team will
come and will reiterate the affordable scene in Mumbai. The
team will come with effi cient design, optimum specifi cations,
and faster construction methods. That’s how we can have
affordable housing in Mumbai.
President-EPC,
Mr. Raman Sapru of Omkar Realtors shares his
expert knowledge about c with Pranjal Bhandarkar.
Squarefoot Realty I november 2015
54
Nowadays in Mumbai, there are reports
about green home development and smart
cities. What do you think about that? Identifying a smart city as a place where living can get better, effi cient, fast and
comfortable. That is what can be defi ned as a smart city. We defi nitely can try to
improve the lifestyle and make it effi cient. On the other hand, a green building
is a global requirement. We need to reduce the carbon footprint because of the
global environment issue. The only way to do it is by using fossil fuels and transit
towards using more renewable type of energy like solar energy, wind energy or
recycling. This will actually help us in making buildings more sustainable. It is
more of a norm today. All the developers in Mumbai consider all these factors
while constructing the building.
Off lately, Millennial are entering the real
estate scenarios. What advice would you give
to such young people who are looking for-
ward to invest in buying their own home?Millennial have raw energy with them. In terms of real estate, they have to be
realistic about it. It is not an investment instrument where you are investing
money with an expectation that it will grow. People will have to be very conser-
vative about the properties they are buying. Everybody wants to stay in a more
hygienic place, a proper shelter. But if you are buying a home as an investment,
it may not be the right decision. It is end user’s perspective. If you buy a house,
you have to imagine you are going to stay in it. So what is the type of property
you will buy? Is it fulfi lling your criteria? Then only go ahead for it. Just don’t buy
properties on impulse. It is a long term decision. Be thoughtful about it and then
only go for it. That’s what I will suggest to all of them.
So Prime Minister has said that by 2022 ev-
eryone should have a house. But as we see,
all the projects are getting delayed. How can
we meet that deadline?
Housing for all by 2022 will need man, material and money. It has to be available
to deliver the end result. However, I believe if there is a will, then there is a way.
So I am sure it will happen.
So today most of the people complain about projects getting delayed. There are
two aspects to it. One is the regulatory aspect. You don’t get timely permissions
or are faced with other obstacles. Secondly, there is not robust support industry
in India for construction. Otherwise what is a building? It is an assembly of
parts. But it is a manufacturer who manufactures the components. But in real
estate, there are not many manufacturers. We don’t have the right resources.
There is a constraint in the support industry. So that is one thing that needs to
grow. Second part is how we can make the construction faster. We can achieve
that with the right type of technology for civil works, shuttering, logistics and
equipments. Traditional shuttering has been replaced with modern shuttering.
Obviously, over next few years, construction is going to become faster. With right
technology, right management and right support industry, we will get through it
with the passage of time.
onstruction
In comparison to our international counter-
parts, is India equipped with the latest tech-
nology to have natural disaster proof homes?
What are the design perspectives needed
by a builder to safeguard consumer against
such a calamity?Mumbai is a global city now. If disaster management is concerned, are we
equipped to manage the disaster? So I will divide it in two ways – internal and
external. As far as internal infrastructure is concerned, we have the best equip-
ments, management, and designers for the project. So your building is built to
the world standards. The second part of the building is the external infrastruc-
ture. It takes into account the way people react in case of a natural calamity.
That is something we need to improve. We have the best of buildings today like
any other developed part of the world. They are quite safe and secured. All that
needs improvement is the external conditions.
With the rise in popularity about solar energy,
wouldn’t it help to build a building with solar
power to care of at least the basic require-
ments of energy? How are developers plan-
ning to incorporate means of solar energies
in their projects?Any renewable energy is the most wanted energy. Whether it’s solar, wind or it is
any other type of energy, from the green footprint concept, or from the way fossil
fuel is conserved, so any renewable energy is the most welcome. All developers
are using solar energy in one or the other way for easing out the power require-
ment. But as you know the building footprint in Mumbai is very less, so more
horizontal spaces are not there. You don’t have that much generation of the solar
power. So it is a limitation because we need space for solar farms. But yes to
some extent, the developers are using solar energy in the buildings for conser-
vation of energy. That’s a welcome step. But is it suffi cient? Maybe. We need a
lot of improvement in that. Is it going to be sustainable? Yes. But over the period
of time, the buildings will degenerate. You will need some sort of maintenance to
these solar energy projects. We need to see if they can become sustainable in a
building project.
Squarefoot Realty I november 2015
55
TILESTILESSPEAKSPEAK Check out
latest trends intile and ceramics
Squarefoot Realty I november 2015
57
Sheela Kothari was bored of
the old look her home wore
and wanted togive it a fresh
look. When she went shop-
ping for tile store designs, she was
pleasantly surprised to see such a lot
of variety in the market.
Products of different ranges and
materials have now fl ooded the local
markets. Gone are the days when
one had to choose from a limited
few.Customers are spoilt for choice
as manufacturers are churning out
myriad competitive and aesthetic
products. The designs help create
cosmopolitan, urban and modern
vibes in your environment.
Rustic fi nish is seen a lot lately but
people are again looking for some-
thing new. Handmade tiles, mosaic
and geometrical forms from 70’s are
back in vogue.
No matter what type of space it is –
working space, living room or restpad,
achieving a proper balance of utility
and design is most essential. Tile can
help you achieve this. Using tiles of
varied forms, colors and textures can
Falguni Banerjee
Squarefoot Realty I november 2015
58
lend the room the required ambience.
Tiles can completely transform a space, if used in the right fi nish
and color at required place. The tile industry has evolved with va-
riety and acceptability for all types of tiles. Rustic fi nish tiles, matt
and Lapato fi nish are preferred these days. Tiles with a matte or
semi-gloss fi nish lets you create a softer, more livable feel.
Squarefoot Realty I november 2015
59
The popularity of large-format tiles
continues to snowball. Thus, tile
producers as well as setting material
manufacturers are continually working
to develop new products to meet the
demand. Ceramic tile is getting bigger,
literally. Tile in formats larger tan the
standard 12x12 inches are growing in
popularity, though regional prefer-
ences vary.
Digital prints on ceramics is an other
fad. Wood and stone-look ceramic
tiles have many takers. They create
strong, robust, elegant and delicate
spaces.
The new digital inkjet technology has
only made things easier for manu-
facturers. Popular designs are being
recreated for the retro look. The sky is
the limit, truly.
With advances in technology, ceramic
today is getting roughed up a bit.
Gone are the days of basic fl at tile.
Today, texture is everywhere. Just
take a walkthrough a tile showroom
and use your hands a little. You will be
surprised to fi nd a treasure trove of
textured tiles on display.
Customers are embracing and en-
couraging this new trend of textured
tiles in surface fi nishes.
The wood look and large formats have
invaded kitchens and bathrooms too.
Luminescent glass is among the top
choices. Pencil tiles, and metallic fi n-
ishes expand the defi nition of mosaic
in designs this year. Manufacturers
are trying their level best to produce
tiles that make your personal space as
warm, lively and inviting as possible,
while meeting the statutory functional
requirements.
Hexagons create spectacular
atmospheres that climb a step in
style. They combine geometry and
ornamentation. They are youthful and
cosy for casual spaces. Certain latest
tiles play with geometry to give your
atmosphere a touch of creativity. At-
tractive metal tones are in.
Classic neutrals are rubbing shoulders
with pastel blues and greens. Peach,
coral, and purple will also become ba-
sic backdrops for the other elements
in a room design. The technological
precision helps get shine fi nish and
cosy simplicity.
The eco-friendly buzz has caught up
with ceramic manufacturers and all
efforts are being taken to develop
environmentally-friendly materials.
Squarefoot Realty I november 2015
60
Home awayHome away from Home! from Home!
After a long, tiring week, everyone
zooms off their car to a serene
place to break from the mundane
life. With a plethora of options
available, driving off to a beautiful landscape
is now a usual activity. And if you fall in love
with one particular spot, buying a second
home there is an increasingly popular
phenomenon lately.
Vacation home is a dream that everyone
wishes to live in reality. Hence, your second
home must be in a place where you can
forget your stress and cherish the small
joys of life. Surrounded by abundant nature,
spectacular views, lush greens and a breath
of fresh air - these are a few things that
your second home location should offer. If
you are clueless or confused about which
place to zero in, here are a few suggestions
from us.
Sonal Waykar
Squarefoot Realty I november 2015
61
AlibaugWho needs Goa when you can have your own home near a scenic beach loca-
tion at Alibaug? 110 kms away from the hustle and bustle of Mumbai, Alibaug is
the perfect choice to let down your hair and relax as sand slip off your toes while
ocean waves hits your skin. Its proximity to the city makes it an attractive option
for home buyers to invest. Apart from that, this idyllic town is also popular due to
its pristine beaches, natural cold climate, historical forts and ancient churches.
In the past few years, Alibaug has witnessed a growth in real estate sector and
emerged as a hotspot for a holiday home.
Roha120 Km southeast of Mumbai lies a small town of Roha in the Raigad district.
With each passing day, Roha’s realty is offering lucrative investment opportuni-
ties for the public. Development of infrastructure and chemical industries is
attracting people to buy residential properties in Roha. Situated quite above sea
level, this stunning location gives you a panoramic view of fog-clad mountains,
bringing you close to the nature. The vast beaches of Murud Janjira are close by
and there are many tourist spots in the city to spend your time.
Squarefoot Realty I november 2015
62
DapoliAlso known as the Mahabaleshwar of Konkan, Dapoli in Ratnagiri
district is blessed with generous natural beauty. Since it is located at
a height of about 800 feet above sea level, you can enjoy a cool cli-
mate all year round. Though all the houses have modern amenities,
a rural touch has still been kept alive. Unfathomable sea view, ample
greenery and lavish plantations are reasons enough for you to free
your minds from the shackles of city life and stress. Many second
home buyers are eyeing this destination booming the real estate
investments in the coastal areas of Konkan tremendously.
KarjatLocated right in the middle of two hubs – Mumbai and Pune, Karjat
is one of the best sought-after destinations for second homes.
With many bigwigs investing there, the town has been gaining a lot
of popularity lately. Though the place is procuring a title of being
educational hub, Karjat has maintained to be free of industrializa-
tion. Tranquil environment, luxurious greens and blissful sounds of
waterfalls.. Do we need to say more?
LonavlaIf you are a hill or mountain person, we would say look nothing beyond Lonavala. Hardly
a two and half hour drive away from the bustling crowd of Mumbai, this picturesque hill
station located in the Sahyadri range will make you fall in love with it. Along with attrac-
tions like Bushi Dam, Ryewood Park and others, there are many trekking trails to keep
you busy on your holiday. Being is close vicinity to Mumbai and Pune is one of the major
reasons that realty was booming in Lonavla in the past few years. Also, tourists fl ock this
town throughout the year thus increasing the demand of holiday homes here.
Squarefoot Realty I november 2015
63
Monorail
This 8.93 kms line has
increased the accessibility be-
tween Wadala and Chembur.
Inaugurated last year, Monorail
brought along, real estate price hikes
in the harbour regions. Since phase I
was quite a success, the next phase
will commence next year and provide
connectivity between Wadala, Lower
Parel and Mahalaxmi.
1
InfrastructureDevelopments that have changed the face of Mumbai
Mumbai has seen multiple delays in the construction of major development projects in the
past, but 2015 was a lucky year as Mumbaikars were gifted new means of commute
that has redefi ned their way of life. These 5 infrastructure developments gave Mumbai a
makeover…
Sonal Waykar
Squarefoot Realty I november 2015
65
EasternFreeway
With traffi c on the roads
of Mumbai increasing
with each day, this 16.8
km long signal-free
stretch is a boon for all. Constructed
between Fort and Eastern Express
Highway in Ghatkopar, the Freeway
reduces the commuting time to
South Mumbai. This zoomed up
the demand for commercial and
residential properties in Chembur
and Ghatkopar.
2
Squarefoot Realty I november 2015
66
Santacruz – Chembur Link Road
This is India’s fi rst double-decker fl yover! The 6.45 km six-lane road starts from VakolaJunntion and
travels far up to the Amar Mahal junction. Also known as the Western Freeway, it was opened last
year to all commuters providing the much needed east-west connectivity. Property rates of all the
areas near the access point of SCLR have shot up signifi cantly.
3
Squarefoot Realty I november 2015
67
Metro Rail
The phase I of Mumbai Metro
Rail connecting the western
suburbs to the eastern ones
was one of the biggest
highlights of last year. This 11 km
stretch passes through Versova to
reachGhatkopar, bringing the travel
time down by almost 75%. Phase II
implementation will soon start and
connect Charkop to Mankhurd and
Colaba to Seepz.
4
Squarefoot Realty I november 2015
68
Sahar Elevated Access Road
This 2.2 kms long road con-
nects the Western Express
Highway seamlessly with
the ChhatrapatiShivaji Inter-
national Airport. Avoiding the traffi c
on the Andheri-Kurla road, you can
now reach the airport in a mere 5
minutes from the highway.
5
Squarefoot Realty I november 2015
69
a ho Media reports state the realty industry is
facing an all-time low due to a lull in the
market. Is that true? What is the correct
situation? How are builders coping?Market scenario depends upon many facts. However,government policies play
a very important role and have direct impact on the realty sector.The media has
been doing its bit. People rely on media inputs. There was a time when the mar-
ket really hit an all-time low. Nevertheless, now the scenario is slowly changing.
Builders offering affordable housing projects are faring well.
There is a lot of buzz about ‘affordable
housing’. Is housing really ‘affordable’ or just
another buzz in the air?Affordable housing is a fact. Prime Minister Narendra Modi’s initiative ‘House For
All’ will be a reality soon.
Are there any new investment ideas/
models that builders are toying with to lure
customers?Affordable housing with amenities to live a good life is what people want. There
is a lot of demand for houses in Navi Mumbai.However, there are issues related
to land acquisitionfrom the development authorityCity and Industrial Develop-
ment Corporation (CIDCO). Once these issues are sorted, builders will be able to
construct more homes to fi t the budgets of all segments of the society.
Swimming pool, gyms, indoor games
is passé. What new kind of amenities are
builders providing in upcoming project
these days?Amenities depend upon each project’s budget and allocation. However, the
above amenities like swimming pool, gyms, indoor games, jogging tracks,
cycling trackers continue to be in demand. In bigger projects with ample space,
developers are now providing additional amenities like markets, mini theaters
and golf course. In short,builders are creating a completely new world for people
to live luxuriously.
Tell us about your new projects?Our major projects are based on an affordable housing concept. We have
projects coming up in Ulwe, Panvel. We even have projects coming up in
Chembur and Bandra. We give a breathing time to buyers. They only have to pay
10 percent at the time of booking. The rest of the money needs to be paid in 2
years, thus making the dream of many home buyers a reality.
Squarefoot Realty I november 2015
70
In an exclusive interview,
the chairman of Lakhani Group, Vijay Lakhani tells Meena R Prashant
he wishes to create me for every individual
Squarefoot Realty I november 2015
71
THE MECCA OFTHE MECCA OFREAL ESTATE!REAL ESTATE!
MCHI-CREDAI Property 2015- 25th Real Estate and Housing Finance Exhibition
Squarefoot Realty I november 2015
73
The Maharashtra Chamber of Housing Industry (MCHI-
CREDAI), formed in 1982, is the most prominent and
the only recognized body of Real Estate Developers in
Mumbai and MMR. It brings together members dealing
in Real Estate Development on one common platform to address various issues
facing the Industry. With a strong Membership of over 1800 leading Developers
in Mumbai and The MCHI-CREDAI has expanded across MMR, having its own
units in Thane, Kalyan -Dombivali, Mira - Virar City, Raigad and Navi Mumbai.
Members account for 80% of the organized Development of new residential and
commercial properties in Mumbai and MMR. It is recognized by Government of
Maharashtra and the Central Govern-
ment and helps in meeting their
objectives of providing housing, which
is a basic necessity.
MCHI-CREDAI works towards raising
awareness among the General Public,
Real Estate and Construction Industry
while providing them with detailed
information on new developments in
Squarefoot Realty I november 2015
74
and around Mumbai and MMR. It is a Member of Confederation of Real Estate
Developers’ Associations of India (CREDAI) the apex body for Private Real Estate
Developers in India and is also affi liated with leading Industry Associations like
CII, FICCI, IMC and others.
The MCHI-CREDAI Property Exhibition series has created its niche in the last 15
years with its 24 Editions. The 25th Edition is a deserving celebration for the real
estate industry, sketched out to be a 4 day on ground event. It will start from
29th October to 1 November 2015 following 21 days of online expo.
The event will see attendance of bigwigs from various industries - Developers,
Bankers, Engineers, Architects and
planners, Marketing and Sales, Chan-
nel partners, Advertising agencies, HR
departments, Business Development
and Redevelopment personnel, Policy
makers and so on.
Be prepared to be left spell bound
with its size, its execution, its media
coverage and meticulous planning.
Squarefoot Realty I november 2015
75
A foreword from c Dharmesh Jain,
President, MCHI-CREDAI
After 24 successful editions of Property
Exhibitions of MCHI-CREDAI, we are glad
to present the Silver Jubilee edition of the
largest Real Estate and Housing Finance
Exhibition of India. We aim to make this event an
unforgettable experience for every participant.
With a history of of 15 years, MCHI-CREDAI has
managed to earn its own identity in the world
of real estate. It is a matter of pride for us that
through our events, many people in Mumbai have
become proud owners of homes or offi ces. The
Silver Jubilee yearns to be special one where
there will be many fi rsts like – the biggest area,
housing fi nance options, exciting media blitzkrieg
across all mediums. At our 23rd edition, we started
partitioning the exhibition area into zones of Patron,
Western, Central and Rest of Maharashtra. There
will be a new addition to it this time – ‘Affordable
Housing’ zone.
We are sure that the exhibition will showcase the
best properties in the most effective manner and
will take the customer experience to the next level.
We at MCHI-CREDAI are putting in our best efforts
to make this special event a grand success.
Squarefoot Realty I november 2015
76
ommittee membersBandish Ajmera,
Chairman,
MCHI-CREDAI
Bounded by the legacy of successful
24 exhibitions and 15 years of hard
work, we have created a bench-
mark for ourselves through MCHI-
CREDAI. Today the event follow the values
of authenticity, integrity and transparency.
We expect that the 25th edition will open a
world of opportunities for real estate frater-
nity and allied industries. However, I would
like to bring focus to the major highlight of
this event which is a dedicated section on
‘Affordable Housing’ for budget buyers.
To lighten up the event, there will be a
‘Home Shopping Carnival’ where loads of
goodies would be distributed amongst the
visitors booking the fl ats. Also, there will
be lucky draws every day. Our objective is
to give a platform to every visitor who can
make the best out of this opportunity as the
event will let you explore multiple facets
of the real estate market and real estate
industries.
Squarefoot Realty I november 2015
77
Dr. Bino Paul,
Dean of Tata Institute of Social Sciences discusses with Pranjal Bhandarkar
the current condition ofskilled labourers in India and
Squarefoot Realty I november 2015
78
What do you think about the current job
scenario for skilled labourers?In India, there is a dichotomy between formal employment which provides social
security, higher earnings or medical assistance, and informal employment that
doesn’t offer any of these. For example, in our country, the proportion of formal
jobs is merely 8% while informal is 92%. Within that, a good chunk of informal
workers, especially in construction, is casual workers with low or medium level
of education or only 4 years of schooling. So that creates a space for creative
interventions in skilled development. Now the question is, how can it be done?
So one way is while working, the labourers should have options like continuing
education or other schooling opportunities. Like if there are workers from Chat-
tishgarh who is not highly educated, then our fi rst priority should be to encour-
age them for National Open Schooling which is provided by the Government of
India. Or in a semi-skilled category, there are plumbing technicians who have
completed their SSC, can they become engineers? I would say yes, that too in
a cost-effective way. One is by gaining higher education by enrolling in National
Open schools. Engineering and technical education can be obtained through a
Bachelor of vocational study course. Some of centrally funded institutes or uni-
versities such as IGNOU provide ample opportunities for people to upgrade their
skills. I have been researching about this issue. There is no national level fl ow
of range. There hardly provide any scope of incentives for labourers. I calculated
how much incentives states like Andhra gives. It is daily 5 rupees. We don’t even
get tea in that amount. So, from the State Government’s side, not much effort is
being put, also from the corporation’s side, not much is being taken into consid-
eration. So there is scope of improvement. That is the current state of affairs in
India, particularly in Maharashtra.
What do you think about the fi nancial and
medical assistance for the labourers?One of the legislations that was passed by the parliament is Unorganized Work-
ers Bill passed in 2008. A committee was formed to look into these aspects to
fi nancially empower the unorganized sector. Maharashtra came up with a bill for
domestic workers to make them eligible for social security. That’s on the paper,
nicely drafted. Hardly any progress has been achieved. We need to shorten the
long gap between theory and action. One strategy I would like to propose is to
explore the corporate social responsibility of fi nancing and linking them with
these issues to improve the quality of work. Suppose if a construction worker
falls ill on site, the help should be easily accessible to them. Unfortunately, the
reality is very different. Maternity leave, minimum wage or accident claims is
quite weak in India. While we have good labour laws, we should also improve
our productivity rather than resorting to mediocrity. This practice is called The
Tripartite Consultation which hardly exists in India except Banking sector.
People have a narrow mindset about
their upliftmentlabourers. How can we change their
perspective? Not easy! The caste system still prevails in India. For example, scavengers in
Mumbai are mainly lower caste. Unfortunately, if we don’t change, there is
a huge threat. Many people from other states fl ock Mumbai for higher wage
and good standard of living. If the global labour market is more receptive, the
migrants might move to other states as well.
How can we encourage the youth of our
country to become skilled labourers?The reason why the youth is not interested is low wages. Secondly attitude
matters too. Digitally inclined youth are not comfortable working in diffi cult en-
vironments. However, we can solve it by making working options smarter. When
someone joins an industrial training institute, they should get a degree. There
should be some porosity between all education institutions where while study-
ing, they should get work opportunities. Unless we change the attitude through
creative interventions, the youngsters would never opt for such career choices.
Are there enough courses in India to curtail
unemployment? And if so, which courses
should be provided?As far as employment with high wages is concerned, only few good students
can get it. Now there are around 2000 business schools in India, but only a
few can boast about bagging 1 million per annum package in their placements.
Therefore, vocational courses do not churn out good employment opportunities.
Industry relies on cheap labour which does not require education. The biggest
hiatus in India is no industry-education collaboration.
According to you, what should be the
habitation concept which will suit the city of
Mumbai and will be easy for developers to
follow?When we say habitat, the space becomes more holistic. The fi rst important issue
is nature of transportation. We have been witnessing emergence of mass-transit
systems. Projects like freeway, monorail and metro are upcoming. When mass-
transit systems gain more popularity, connection between cities becomes easy.
Thus, it changes the whole habitat. With the new systems, there will be massive
relocation tendencies. So our habitation theory will be greatly dependent on con-
vergence of transportation facilities. A few places in Mumbai and Navi Mumbai
will see an escalation in prices.
Squarefoot Realty I november 2015
79
In this digital age, where everything is available at a click, turning your house into a smart home is gaining demand off lately. The concept of home
automation was introduced to us long back. Remember opening your garage door with remote control or lights fl icking on when someone enters
the room? Our homes have been automated since decades. However, with the internet and connectivity, home automation has made great stride in
recent years.
A MODERN CONCIERGEFOR YOUR HOME !
Sonal Waykar
Squarefoot Realty I november 2015
81
What Home Automation exactly means?
Home Automation simply means using one or more electronic devices
to remotely control the basic functions and features of your home. The
more devices you integrate with all the sensors, the smarter the place
becomes. So much so that eventually, the house will know who you are,
where you are and what you want, without you having to utter a word.
It is nothing but the electrical functionality of a home controlled by a system
from anywhere in the world using a computer or your smartphone connected to
Advantages of Home Automation
Automated systems make your place a safe and comfortable living environment,
making our daily lives a lot easier. However, if you are still wondering how home
automation will help you; here are a few reasons why you should opt for it now:
• Save energy: As all the devices will be either connected to your phones or
have been sensor-enabled, you can save more energy and cut down on water
use.
• Easy access: From refrigerators to lights and doors, everything will be easily
accessible at your fi ngertips via apps on your phones or tablets.
• Convenience: Wouldn’t it be wonderful if your AC gets switched on when you
enter the house, or if your doors open
when you approach with heavy bags?
Sensors and smart locks can lighten a
lot of burden after a long tiring day!
• Safety: You can secure your home
with smart clocks, 24/7 Wi-Fi enabled
security cameras, motion sensors and
alarms that can be monitored from
anywhere. So you can be rest assured
from intruder breaking into your
apartment.
the internet. It can include scheduling
and operations of temperate control in
the house, window blinds or curtains,
surveillance and security, lighting and
water sprinkling. The functionality
can be extended to communication
equipment and home robots such as
automatic vacuum cleaners.
Squarefoot Realty I november 2015
82
Must-have Home Automation Appliances for your houseWith a veritable boom in the technology industry, more and more home automa-
tion products has been churning out by many developers. With many people still
unable to understand the nitty-gritty of these advancements, we are here to help
you learn about some of the most ingenious products in the market. Here are a
few which will not disappoint you:
Smart Alarm
This is a budget-friendly security option that all homeowners should invest in.
Smart Alarm is a Wi-Fi enabled camera that sends a notifi cation to your phone
whenever someone enters your home or when the camera senses a presence.
You can check the screenshot of the intruder in your house and take necessary
action accordingly. It has a built-in LED, so you can get a clear image even when
the lights are switched off.
SquareFoot recommends: iSmartAlarm
Smoke Detector
Smoke Detector is highly underrated in our country. However, gone are those
days of installing basic detectors in the house; one should go for a smart smoke/
carbon monoxide detectors that come along with features like remote monitoring
via your phone and waving off false alarms just with your hand. This is one such
device that you never knew wanted.
SquareFoot recommends: Nest Protect Smoke Plus Carbon Monoxide
Thermostats
These smart devices give you a convenient option to remotely manage your
home’s temperature on-the-go through your smart phones and reduce energy
consumption. You create your own schedule by designing customized scenes
and setting precise temperature controls. There is also an option for lockout
where you can keep the temperature fi xed to a certain temperature. Thermostats
also have a feature of auto-changes which continually adjust the pre-heating
and cooling of the house.
SquareFoot recommends: Honeywell Z-Wave Thermostat
Home Entertainment Options
Imagine a movie theatre experience at your own house! Home automation has
made entertainment easy again. They contain a home theatre integrated with
audio distribution which can be easily accessible. With surround sound and HD
images, you can create your own media room anywhere you wish to, with the
touch of a single button.
SquareFoot recommends: Adagio by Crestron
With a ‘smart’ home, you can just sit back and enjoy!
Squarefoot Realty I november 2015
83
Does your business plan include the
development of an area in your plant for
clean manufacturing?
Better quality or better yield is the primary reason for investing in
a cleanroom space. It goes straight to your bottom line. Numer-
ous manufacturing facilities now require a controlled environ-
ment in which you limit the amount of dust and dirt in the area of
the manufacturing. Medical instrument manufacturing and pack-
aging, electronics and computer manufacturing, food preparation
and some military applications are but a few of the instances that have strict requirements for
maintaining a clean environment. You need to know the requirement for your specifi c product
or process. Clean rooms have become integral part of pharma manufacturing facilities.
One of the most important aspects of cleanrooms is the Doors you choose for cleanroom
facility. Time for which door is open will play a critical factor in avoiding dust, outside tem-
perature, humidity etc. Opening and closure of door has to quick enough to isolate the outside
environment and internal facility.
At Gandhi Automations Pvt Ltd we provide Clean Room High Speed Doors specifi cally
designed for above purpose. Our Clean Room High Speed Doors are best suited for facilities
where you need controlled environment. The opening and closing of door is quick enough to
separate outside environment and internal facility.
High Speed Clean Room Doors designed by
Gandhi automation are engineered carefully
with feature below :
• Concept of low air permeability in pressurized rooms with positive
and negative air pressure
• Designed to fi t inside the columns
• Self-supporting construction
• Minimizes air leakage
• Can be equipped with transparent PVC horizontal sections
or vision windows
• Special side guides to tightly integrate the curtain
• High leak tightness due to the close fi lling curtain in the guide rails
• High door effi ciency with and low permeability values,
EN 12426 EN 12427: < 12 m3/m2 h Δ 50 PA .
• Control device enclosure in Stainless Steel SS 316
For more information on Clean Room High Speed Doors
visit www.geapl.co.in
or SMS “GANDHI” to 58888 or Email us at [email protected]
Corporate Offi ce
Gandhi Automations Pvt Ltd, 2nd Floor, Chawda Commercial Centre, Link Road, Malad (West), Mumbai - 400064, India
+91-22-66720200 / 66720300 (200 lines)
Suraj Parmar’s sacrifi ce won’t go waste. This was the sentiment echoed
by each builder and realtor, who participated in the peace march
organized by real estate developers’ body CREDAI and Maharashtra
Chamber of Housing Industry (MCHI) on October 13, 2015 at Thane as a
mark of respect and solidarity.
Thousands of city developers participated in the march wearing black and white
clothes and black bands. Late Suraj Parmar was the president of the Thane unit
of MCHI. He allegedly committed suicide.
The city developers marched from the guest house gate near Collector Offi ce to
Thane Municipal Corporation (TMC). All offi ces, site offi ces, construction work,
registration and brokers’ offi ces remained closed as a mark of protest.
After the march, a representative group of builders handed over a letter to
municipal commissioner Sanjeev Jaiswal highlighting issues such as endemic
delays in getting approvals, deliberate delays in implementing government policy
and massive corruption. They requested the authorities to investigate the matter
thoroughly and bring in stringent measures to avert such situations.
CREDAI and its members appealed to
the TMC to develop an atmosphere
of trust. In a statement, CREDAI said,
“The fi ght against a corrupt and inef-
fi cient government system has led to
the loss of our fellow developer, Suraj
Parmar of Cosmos Group. He was one
of the prominent names in the real
estate in Thane region of Maharashtra
and had delivered numerous landmark
buildings across Mumbai and Thane
region. We are extremely saddened
and shocked by this incident. As a
mark of respect and solidarity, all
our member developers will protest
with closure of offi ces, sites offi ces,
registration and all construction work
on October 13, 2015.”
Developers need around 54-60
approvals and permissions before
starting a real estate project. Each
approval necessitates dealing with a
number of government authorities and
Squarefoot Realty I november 2015
86
this entire process takes about 2-3
years resulting in the projects suffer-
ing with cost overrun and avoidable
delays to the consuming public. For
long now, builders have been pressing
for a single-window, time-bound
clearance. This time, they hope the
BJP-led government will comply.
CREDAI has consistently sought
rationalization of approval processes.
The demand has been approved in
principle by a number of committees.
However, this scheme remains on
paper till date.
Parmar, a director with the Cosmos
Group, allegedly shot himself on Oc-
tober 7, 2015. Police said the incident
occurred at around 1.15 pm inside a
sample villa at his Cosmos Havaiian
project at Ovala.A single bullet injury
was found on his right neckline. The
injury was probably caused by a shot
fi red from his licensed .32 bore re-
volverHe left behind a 18-page suicide
note in which he reportedly outlined
the harassment from various govern-
ment departments as well as the bribe
that he had to pay repeatedly.
Suraj Parmar’s relatives also par-
ticipated in the peace march among
others.On Monday, the Kasarvadavali
police registered a case against un-
identifi ed corporators and some Thane
Municipal corporation (TMC) offi cials.
Meanwhile, Parmar’s letter has been
sent to a forensic lab for investigation
and results are awaited.
Builders in other parts of the country
too protested with black bands. In
Navi Mumbai, a group of builders met
Managing Director of the City and
Industrial Development Corporation
(CIDCO) to submit a letter requesting
transparency and similar demands.
Falguni Banerjee
Squarefoot Realty I november 2015
87
Mumbai is witnessing a lot of green homes off lately since the state
has made it easier for such projects to get clearance permits.
However, many people still believe that green homes cost you a lot
of money which is totally not true. No longer it is just a lifestyle state-
ment for those who worry about carbon footprints.
Owning an eco-friendly is synonymous with caring about the environment. It
means people not only care about their health or money, but they also give a
considerable thought about the community and the nature. Green homes are
better for the planet.
So we bring you 5 reasons thatliving in a green home is beneficial for you.Lower energy bills
Turning your house into a green place means better insulation, tightening up
the duct-work, sealing the doors and windows properly, elevating the effi ciency
of heating and cooling systems, sustainable lighting and electrical appliances.
When you follow these norms, your energy bills are bound to go down drasti-
cally.
Lower water consumption
When you tighten the taps and faucets properly, fi t low water consuming shower
heads, set up dual fl ush toilets, solar system to reuse the rainy water, effi cient
irrigation systems, you assist with water saving methods. This is necessary as
there are many areas in our countries suffering from drought like situations.
Green homes let us lend a hand in limiting water wastage.
Indoor air quality
Paints, adhesives and wall fi nishes are put to limited use in eco-friendly dwell-
ings. Also the volatile organic compound which causes respiratory troubles in
the materials is low. Using such materials invites fresh air in the house. It also
means mold prevention, non-toxic pest control and non-toxic household clean-
ers. Finally giving you and your family a healthy indoor air quality.
More sustainable and durable
Since the quality of products used to build a green home is of high quality. In
comparison to other products, these ones last longer and are more durable. It
also has another benefi t. In future, you won’t need to undergo various mainte-
nance and replacement costs. Thus making it a pocket friendly deal.
Increased value of the house
Research shows that the value of a green home increases considerably by 3
to 5% compared to non-green apartments. All the furnishings and fi ttings you
installed to make your place an eco-friendly zone will elevate its rate in the real
estate market instantly thus giving you favourable rewards in the future.
Squarefoot Realty I november 2015
88
Originated from Asian countries thousands of years back, FengShui
is an ancient belief that energy is scattered everywhere and also all
the energies are connected. Picking up on this belief, the practice of
fengshui was implemented while building homes. Reason – to create a
calm and balanced environment in the house.
Initially, fengshui doesn’t seem like to be effective for anybody. But once you
understand how it creates a path towards guiding the energies to build a har-
monious life, you will not be able to help yourself in imparting fengshui in every
aspect of your dwelling.
Here a few fengshui tips to help you start with.• If you haven’t been feeling at ease in your bedroom, maybe it is the bed
that causes the discomfort. You should able to view the door from your bed,
but never place it directly opposite to the door. Maybe you can try keeping it
perpendicular to the wall of the door. Also, decorate the room with equal sized
night stands or lamps.
• Never place your desk against the wall with a window. You may think that it
will give a good view of the surroundings, but for better focus on your work set
your desk from where you can view the whole room.
• Include all 5 elements in your interior theme. Decorate in a way that each
room will remind you of water, fi re, wood, earth, and metal. You can substitute
things that evoke the same feelings instead of using actual elements.
• Now that you have included the 5 elements in the house, the next thing to
consider is their location. Place them in a strategic manner to improve your luck.
For example, a water feature near your home’s entrance signifi es good fi nancial
health.
• Avoid having darkness in the corners of the house as they bring danger. So
place items like plants, accent chairs, bookshelves, or other furniture to soften
them up.
Squarefoot Realty I november 2015
89
Wood, the premium choice for the interiors in Indian homes, busi-
ness places and community. This year, Gudi Padwa coincided
with World Wood Day, thus reminiscing this environment-friendly
raw material. The natural ambiance of wood gives a classy,
graceful and elegant look to the place. Its classic characteristic look is the
fi rst reason why people opt for wooden furniture in their homes. Not only it
costs less, but it is also one of the most versatile, renewable and durable
raw materials available.
Environmentally Friendly
Everyone has been talking about creating awareness for using materials
that carbon positive. This need of the hour has led to a resurgence in the
demand for wood. People who care about constituting to an eco-friendly
planet prefers materials which are not energy intensive while the production
process as well as during the life of the product.
We believe that India too should follow some strict forest management
regulations like our international counterparts. To mention one, Canada have
a stringent policy that only mature trees which are around 100 years old
must be cut and also, with one tree chopped, three new saplings have to be
planted.
Why choose wood for home furnishings?
When looking for interior furnishing options, consumers mainly focus on
appearance, functionality and strength. Wood is one such material which
provides all these benefi ts along with reducing carbon footprints drasti-
cally. As a natural product, it brightens up any space and offers unmatched
options for designing and fi nishing. The diversity of wood makes it a prime
choice for all because:
• As it is grown by the sun, it is a renewable resource that can last for years
if looked after properly.
• It keeps us connected to nature.
• Its versatility enables to create traditional structures as well sleek designs.
• It subdues the effects of climate change as it stores carbon from the
atmosphere in its cells throughout its life.
• As per life cycle analysis and scientifi c studies, using renewable sources
of energy such as wood has much more positive impact on the atmosphere
over the long term as compared to other materials.
How far ‘WOOD’ you go?Sonal Waykar
Squarefoot Realty I november 2015
92
INEXPENSIVE TIPSFOR YOUR HOMEMAKEOVER FOR FESTIVE SEASON
With the festive season just around the corner, there is no
better time to spruce up your home and add a dash of
opulence. But decorating your space for an occasion
does not need to burn a hole in your pocket. You can
lend a festive touch to your home in an inexpensive manner. A few simple tricks
can help you turn your home from plain and boring to bright and classy.
So this Diwali, let’s go that extra mile to deck up our house in warm hues without
worrying about the expenses.
Sonal Waykar
Squarefoot Realty I november 2015
93
• Wall decals For those who frequently change their mind, or easily get disinterested in a
monotonous look, wall decals are the perfect option. They are inexpensive yet
excellent in dressing up your plain walls, according to the mood. With a wide va-
riety of options to choose from, wall stickers are the latest popular interior trend.
An added advantage is that they do not leave a mark when peeled off.
• Drapes and furnishingsEven changing drapes or cushion furnishings has become a costly affair nowa-
days. Hence a better option is you can use your old colourful ethnic dupattas or
saris instead. You can simply hang them over curtain rods acting as scarves for
the windows. It will give your space a grand look. You can add a hint of festivity
by embellishing it with lace or readily available motifs.
• Flowers and diyasIt is a widely known fact that one can never go wrong with fl owers. Placing fresh
fl owers set up a decorative aura and give a warm glow to your home. Diyas,
on the other hand, are a customary practice during Diwali. There are creative
shapes and colours in diyas available in the market. But if you want to go DIY
and creative, you can simply illuminate the room by fi lling in empty glass jars
with lights.
• Paint your doorPeople usually paint their whole house before the arrival of the festive season.
That normally goes over budget and takes more time. Instead, you can add a
pop of colour by painting just your door in an unexpected shade like bright yel-
low or turquoise blue. It not only modernizes your old home by adding a young
feel to it, your guests will also be pleasantly surprised.
Squarefoot Realty I november 2015
94
Central Mumbai suburbs Capital Values Rate/ Sq ft (INR)
Bhandup (East) 12250
Bhandup (West) 16050
Central-Mum-Suburbs/Others 14800
Chandivali 18900
Chembur (East) 18650
Chembur (West) 9700
Chunabhatti 15350
Ghati Pada 13250
Ghatkopar (East) 16000
Ghatkopar West 21650
Hiranandani Gardens - Powai 31450
Industrial Area 17950
Kanjur Marg (East) 12000
Kanjur marg (west) 15400
Kurla (East) 14700
kurla (west) 13100
LBS Marg 16050
Mulund 15250
Mulund (East) 14950
Mulund (West) 15500
Mulund Colony 14700
Nahur 13500
Powai 21100
Raheja Vihar 20000
Rajiv Gandhi Nagar 15650
Sion (East) 21350
Sion (West) 22000
Vikhroli (East) 15600
Vikhroli (West) 19450
Mumbai Andheri-Dahisar Capital Values Rate/ Sq ft (INR)
4 Bunglows 19200
7 Bunglow 27100
Aarey Milk Colony 8600
Akurli Nagar 12950
Amboli 20700
Andheri (East) 17250
Andheri (West) 22450
Andheri MIDC 14900
Asha Nagar 17450
Azad Nagar 18500
Borivali (East) 15150
Borivali (West) 16250
Chakala 18500
Chandivali 18900
Charkop 13150
Chincholi Bunder 17200
Dahanukar Wadi 15200
Dahisar 12400
Dahisar (East) 11100
Dahisar (West) 14500
Dattapada 14050
Evershine Nagar 16900
Film City Road 16000
Gokuldham 16350
Gorai 14100
Goregaon (East) 16800
Goregaon (West) 16500
Huzefa Nagar 14500
I C Colony 16500
J B Nagar 19150
Jankalyan Nagar 13500
Jawahar Nagar 15250
Jogeshwari (East) 15650
Jogeshwari (West) 15950
JVLR 21000
Kanchpada 14200
Kandarpada 14650
Kandivali (East) 16150
Kandivali (West) 14700
Shrishti 8200
vasai 5050
Vasai East 4550
Vasai Road 4000
Vasai West 5700
Vijay Park 6500
Virar 4450
Virar East 4050
Virar West 4550
Mira Road And Beyond Capital Values Rate/ Sq ft (INR)
Bevarly Park 6550
Bhayander (East) 6350
Bhayander (West) 6400
Boisar 2550
Kashimira 6400
Kelve mahim village 2500
Mira Bhayandar 6850
Mira Road 6500
Mira Road East 6900
Naigaon (East) 3400
Naigaon (West) 3900
Nalasopara (West) 3500
Nalasopara East 3950
Nallasopara 3800
palghar 2800
Poonam Gardens 6800
Mumbai Beyond Thane Capital Values Rate/ Sq ft (INR)
Adharwadi 5500
Ambernath 3250
Asangaon 2600
Badlapur 3350
Badlapur (East) 3350
Badlapur (West) 3350
Bhivpuri 3350
Bhiwandi 3050
Chikholi 3050
diwa 4250
Dombivili (East) 6000
Dombivili (West) 6000
Kalwa 8400
Kalyan (East) 4200
Kalyan (West) 5900
Karjat 2650
Katrap 2950
Khadakpada 5950
Kharegaon 7700
Khopoli 3550
Manjarli 3750
Mum-Beyond-Thane/Others 9700
mumbra 3600
Neral 2650
Nilje Gaon 7250
Kulupwadi 19600
Link Road 19100
Lokhandwala 23300
Lokhandwala township 16000
Mahavir Nagar 21650
Malad (East) 14000
Malad (West) 15250
Malvani 9250
Marol 16400
Marve Road 10450
Mindspace 22200
Orlem 13550
Oshiwara 15650
S V Road 16500
Sakinaka 16550
Shastri Nagar 28750
Siddharth Nagar 15000
Thakur complex 16050
Thakur Village 18100
Veera Desai Road 20150
Versova 24100
Yari Road 22850
Yogi Nagar 13000
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Mumbai Navi Capital Values Rate/ Sq ft (INR)
Airoli 11150
Belapur 10000
Dronagiri 4600
Ghansoli 9650
jui nagar 7800
Kalamboli 5700
Kamothe 6950
Karanjade 5000
Khalapur 3000
Khanda Colony 6750
Khandeshwar 6700
Shahpur 2450
Sheel Phata 4500
thakurli 5500
Titwala 3250
ulhasnagar 4000
Vasind 2850
Mumbai Harbour Capital Values Rate/ Sq ft (INR)
Bhakti Park 28600
Byculla 30750
Chembur 18400
Deonar 22600
Govandi 15850
GTB nagar 11550
Sewri 31200
Sion Trombay Road 21150
Tilak Nagar 14950
Wadala 23200
Wadala East 23600
Wadala West 24800
Kharghar 8300
Koperkhairane 10300
Kutak Bandhan 8250
Navade 4300
Nerul 11950
new panvel 5450
Old Panvel 6150
palm beach 18350
Panvel 6050
Petali 5500
Rabale 9350
Rasayani 2800
Roadpali 6250
Sanpada 12950
Seawoods 11900
Sector 1 Ghansoli 6950
Sector 10 Kamothe 7100
Sector 10 Kharghar 8550
Sector 11 Belapur 8100
Sector 11 Koparkhairane 11500
Sector 12 Kharghar 7750
Sector 14 Kharghar 9100
Sector 15 Belapur 9250
Sector 17 Ulwe 5500
Sector 18 Kamothe 7450
Sector 18 Kharghar 8000
Sector 19 Kharghar 9100
Sector 19 Ulwe 5400
Sector 2 Ulwe 5700
Sector 20 Airoli 10800
Sector 20 Kamothe 7400
Sector 20 Kharghar 9000
Sector 20 Ulwe 6750
Sector 21 Kamothe 7500
Sector 21 Kharghar 8350
Sector 21 Ulwe 6000
Sector 22 Kamothe 7500
Sector 23 Ulwe 6400
Sector 26 Vashi 11950
Sector 30 Kharghar 6250
Sector 34 Kamothe 8000
Sector 34C Kharghar 8000
Sector 35I Kharghar 8500
Sector 36 Kamothe 7650
Sector 36 Kharghar 7800
Sector 5 Ghansoli 6500
Sector 5 Ulwe 6500
Sector 6 Kamothe 7550
Sector 7 Kharghar 11250
Sector 8 Airoli 10850
Sector-13 Kharghar 7100
Sector-17 Kamothe 7450
Sector-18 Ulwe 5800
Sector-19 Airoli 12150
Sector-20 Roadpali 6650
Sector-25 Khandeshhwar 6900
Sector-27 Kharghar 7850
Sector-34 Kharghar 6700
Sector-34B Kharghar 8400
Sector-35 Kamothe 6500
Sector-5 Kamothe 7800
Sector-50 Seawoods 12650
Sector-6 Kharghar 13200
Sector-8 Ulwe 5800
Shilphata 6150
Taloja 4600
Taloja Panchanand 4750
Ulwe 5700
Uran 4850
Vashi 11650
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Mumbai South Capital Values Rate/ Sq ft (INR)
Agripada 51650
Adarsh Nagar 34300
Altamount Road 74150
Breach Candy 67400
Churchgate 52350
Colaba 41550
Cuffe Parade 69050
Dadar (East) 30700
Dadar (West) 37350
Gamdevi 57750
Grant Road 37000
Hanuman Nagar 37100
Kemps corner 59250
Lower Parel 36350
Mahalaxmi 40700
Malabar Hill 70300
Marine Drive 54550
Marine Lines 50250
Matunga 34950
Matunga West 35000
Mum-South/Others 27000
Mumbai Central 53350
Napean Sea Road 67500
Parel 29200
Peddar Road 63900
Prabhadevi 40000
Shivaji Park 34350
Tardeo 57800
Upper Worli 36500
Walkeshwar 72200
Worli 39050
Worli Naka 35300
Worli Seaface 42400
Mumbai Thane Capital Values Rate/ Sq ft (INR)
Anand Nagar 9350
Balkum 10000
Brahmand 10250
Brindavan 10750
Charai 11800
Devdaya Nagar 13600
Dhobi Ali 11750
Dhokali 10950
G B Road 9200
Gawand Baug 11250
Ghodbunder Road 9800
Hiranandani Estate 13900
Hiranandani Meadows 20000
Mumbai South West Capital Values Rate/ Sq ft (INR)
Bandra (East) 24000
Bandra (West) 46150
Bandra Kurla Complex 29500
Gandhi Nagar 35500
Juhu 40000
Juhu Scheme 41650
JVPD 44500
kalina 20750
Khar 40900
Khar West 44250
Mahim (West) 30300
Pali Hill 49200
Santacruz (East) 20750
Santacruz (West) 38550
Vakola 22200
Vile Parle (East) 29100
Vile Parle (West) 38600
Kalher 3800
Kalwa 8400
Kapurbawadi 11400
Kasar vadavali 8450
kavesar 9600
Kharbao 2600
khopat 12600
kolbad Road 12650
Kolshet Road 10900
Kopri 11700
Lok Upvan 10950
Lokmanya Nagar 7900
Lokpuram 10750
Louis Wadi 12150
Majiwada 11900
Manpada 11350
Mum-Thane/Others 8150
Naupada 15300
Owale 8850
Panch Pakhadi 14550
Parsik Nagar 9200
Patlipada 12800
Pokharan Road 12500
Pokhran-2 12650
Samata Nagar 13050
Shivai Nagar 13200
Srinagar Colony 9300
Teen Haath Naka 13650
Thane (East) 11000
Thane West 11450
Utthalsar 11500
Vartak Nagar 11350
Vasant Vihar 12500
Vrindavan 12300
Waghbil 10000
Wagle Estate 10700
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