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PROPERTY NEWS FOR YOU

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July 2014

Brigade Group to organise Brigade Showcase event from Aug 1-3, 2014 at Bangalore.

Bangalore, July 28, 2014: Real estate major Brigade Group plans to have the sixth edition of its exclusive property exhibition ‘Brigade Showcase 2014’ from August 1 to 3 between 11 am and 8 pm.. The event, which will feature the Group’s entire range of ongoing and forthcoming projects across residential, offices and retail projects apart from schools and allied services.

According to Mr. M.R. Jaishankar, Chairman and Managing Director, Brigade Group, Brigade Showcase will offer potential buyers a sneak peek of their dream home and give them an opportunity to own it right away. “ From 2009, Brigade Showcase has garnered a reputation for itself and has emerged as a golden opportunity for our customers to upgrade their life and buy a Brigade property at the best rates,” he said. Customers get to choose from a wide array of projects including ready-to-occupy homes, those nearing completion, ongoing and the ones that have just been launched, spanning various budgets starting from Rs 35 lakh and going up to Rs 8 crore. These projects include value homes, luxury apartments, premium residential enclaves, retirement homes and villas. There would also be a pre- launch of a few projects.

The event is not just limited to projects in Bangalore, but displays the company’s offerings in Mysore, Mangalore, Hyderabad and Chikmagalur.

 For more information on Brigade Showcase visit www.brigadegroup.com/showcase

Brigade Group’s tree plantation initiative gives Sitarampalya Lake a green boost

Bangalore, July 23, 2014: Sitarampalya Lake at Whitefield got greener , with the tree plantation drive, thanks to the initiative by real estate major, Brigade Group. The tree plantation event was held in the presence of Chief Guest Dr A. Ravindra, IAS (Retd), Former Chief Secretary, Government of Karnataka; Guest of Honour, Dr Vaman Acharya, Chairman, Karnataka  State Pollution Control Board (KSPCB), Mr M.R. Jaishankar, Chairman and  Managing Director, Brigade Group and Dr Anil Abhi, Director, Tropical Research Development Centre (TRDC). Brigade Group, along with the NGO Tropical Research Development Centre (TRDC), has taken the initiative of redeveloping the Sitarampalya  Lake at Whitefield, Bangalore, and bringing it back to its original glory.

Speaking at the event, Dr. Vaman Acharya, Chairman, Karnataka State Pollution Control Board (KSPCB) said, “A city is beautiful only with lakes but sadly most lakes in Bangalore are encroached. This needs to be stopped. Also the sewage water leading to the lakes needs to be treated before it joins the lakes.”
Speaking at the event, Mr. M R Jaishankar, CMD, Brigade group said, “Brigade Group has taken on the onus of reviving Sitarampalya Lake and restoring it to its previous glory. The area will be lined with trees to restore its green cover. This will serve to tremendously improve the water table in and around the area.”

Speaking at the event, Dr A. Ravindra, IAS (Retd), Former Chief Secretary, Government of Karnataka said, “The effort of Brigade group in rejuvenating the lake is highly commendable. Bangalore was once a city of lakes but today the lakes are fast disappearing. If the existing lakes are rejuvenated and redeveloped like this we can regain the lost glory of Bangalore”.

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Extended over 23.37 acres, the Sitarampalya Lake till recently was a picture of neglect as a result of receding water table, felling of trees, clogged water channels and loads of debris.
A part of the lake will be converted into a lush, green area and the lake may soon become a bird watcher’s paradise,” apprised Mr. Manjunath Prasad, COO, Brigade Group.“There are also plans to introduce many trees around the bund area to give the flora and fauna a better chance of revival. We are focusing on cleaning the debris, open out clogged water channels, and introduce a paved walkway culminating into a children’s park and more,” added

Mr. Prasad.The Sitarampalya Lake Revival Project is slated for completion in nine months at a cost of Rs 1 crore.The area around the lake will also be developed with a paved walking/
jogging track of 300 to 400 metres that will culminate into a play area for children.The revived project would serve as a recreational spot for the population of about three lakh people living nearby. Once the ground water is recharged and the flora and fauna begin to flourish, the sight will be all the more pleasant. In fact, even in the initial stages of the restoration work now, some birds such as purple and grey herons, and Indian  Cormorants can be spotted.

To know more about Brigade Group, visit www.BrigadeGroup.com

Eicher launches new generation of light and medium duty trucks in Karnataka

July 15, 2014: Post the unveiling of “The future of Indian Trucking” –the full new range of the Eicher Pro series of Trucks and Buses, VECV launched the Eicher Pro1000 and Eicher Pro 3000 series of light and medium duty trucks in Bangalore, Karnataka today. The new trucks will meet the needs of the emerging mid-premium market segment, which demands vehicles of higher power and durability, greater comfort and value-added enhanced features at economical cost. In addition it will continue to address the mass-market segment, which demands trucks with value features at low cost of ownership. The next generation of Eicher trucks and buses aims to continuously improve transportation efficiency in India and the developing markets via relevant modernization, thereby reducing logistics costs for goods and people leading to economic growth and productivity.
Vishal Mathur VP(sales), Shyam Maller, Sanjeev Mahajan, VP MKTG(VECV)
Eicher Pro 1000 Series is a new and enhanced range of light and medium duty trucks in the 5-
Eicher Pro 3000 Series is a completely new generation range of medium duty trucks (9-14T) that is set to change the trucking experience altogether. It is specially designed for emerging premium segment that requires high power and torque combination as well as a greater degree of refinement and sophistication. It has a 4 Cylinder 4 Valve E-494 CRS technology engine with Volvo group Engine Management system (EMS) 3.0, which has high processing capability, optimum balance between load demands, fuel efficiency and emissions control with added advantage of quick and guided diagnostics- all leading to high performance, higher uptime and lower maintenance. The Eicher Pro 3000 vehicles come with 2.1 m wide new generation cab with a sleeper option and also a rest kit in day cabin. Meeting ECR 27 safety test norms, it has a host of features for driver comfort including 6 way adjustable seat and a first time introduction of cruise control. The Eicher Pro range, representing the future of Indian trucking, has been developed and manufactured as a result of the synergistic working between the Volvo Group and Eicher. With the launch today, the Eicher brand enters a new phase of growth and consolidation in the commercial vehicle market. The Volvo Group has global expertise in understanding the needs of truck customers and has been working with the VECV teams for more than five years now to develop new solutions for India. In the Indian CV industry, fuel-efficiency is a major cost driver, and in this area, the Volvo Group’s technology and Eicher’s competence in frugal engineering have been very complementary. The new Pro series of trucks and buses will retain and even increase the well-known Eicher leadership in this domain
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The mammoth product development initiative for the entire Pro series range from 5-49 tonne gross vehicle weight involved an investment of 3 million hours of engineering effort, 7.7 million kms of testing and 50,000 hours of engine development. The new range will deliver higher profitability over vehicle’s life cycle, leading to real productivity improvements through best-in-class fuel efficiency, good driver comfort, better drivability and higher up-time.
The Eicher Pro series range has undergone very stringent and gruelling test protocols to ensure superior up-time. Extensive testing has been done not only in the labs and on the Volvo Group’s torture track, but also with some of the customers in real world conditions. The Eicher Pro series trucks launched today will meet the exacting needs of most market segments across haulage, distribution, construction, industrial loads, courier and perishables.

Reaction from real estate sector regarding union budget

Response from Mr. M R Jaishankar, CMD, Brigade Group

 MRJaishankar

Central Budget presented by the Finance Minister Mr.ArunJaitley is a balanced budget and a step in the right direction and can be termed positive over all and in particular for the Real Estate.  Some of the positives are:

 ·        Interest payment deduction from income tax towards home loans has gone up by 33% from Rs.1.50 to Rs.2.00 lakhs;

·        Rs.4,000 Crores will be given to the National Housing Bank to support Affordable Housing;

·        Investment of Rs.7600 Crores is allocated to improve the infrastructure in 10 cities.  In addition, the much awaited REITs (Real Estate Investment Trusts) will at last become a realty bringing in substantial funds to the commercial Real Estate Sector.

·        Extension of IT Section 80-IA benefits for 3 more years and renewed importance given to SEZs are positive steps

·        Importance given to Tourism and increase in FDI limits to 49% in Defense & Insurance sectors are major positive steps and will also bring substantial foreign exchange to the country.

·        In addition, increase in personal tax exemption from Rs.2.00lakhs to 2.50 lakhs and section 80cc deduction from Rs.1.00 to Rs.1.5 lakhs should help in giving more disposable income in the hands of the citizen.

Response from Mr.R Nagaraj, President, CREDAI Karnataka

This budget is emphasized more on infrastructure which will result in more job opportunities. As far as real estate is concerned FDI investment for projects upto 10 hectares is a good sign. So now FDI can invest in real estate. It will boost real estate industry in terms of finance. Now the purchaser will also benefit because of this budget since tax exemption has been increased from Rs.1.5 lakh to Rs.2 lakh. Those who are availing home loans will be benefited from this.

FDI has now been relaxed to invest in real estate sector. So the industry will grow. And also government is coming with Rs.7000 crores for development of small cities. Overall in this budget the importance is given to infrastructure. So the GDP growth will increase. It is a good sign. This budget proposes to resolve tax issues with Realty REITs, which also a good move from the government toward the real estate industry. The real estate industry can raise their funds through this source.

MITS inaugurates its Civil Engineering Association

Kochi, 10th July, 2014:  Shri Elias George, IAS, Managing Director, Cochin Metro inaugurated the Muthoot Institute of Technology’s Civil Engineering Association today.  The association is a collaborative effort of the students and staff of MITS Civil Engineering department.  The other members present during this launch included Mr George Alexander Muthoot, Managing Director, The Muthoot Group, Mr George Varghese, Executive Director, MITS, Dr S  Pusphakumar   Principal, MITs, Dr A C Mathai,Staff & Academic Advisor, MITS, Ms Mary Lissy P N, HOD, MITS-Civil Engineering Dept,  and students.

The association will have an over 60 students enrolled in it and is  formed with the objective of creating a platform for  students to gain knowledge on the latest innovations and researches in the field  of civil engineering and also provide them an opportunity to interact with seniors and professionals through a meaningful co-curricular activities organised by the students.

Congratulating the staff and students Mr. George Alexander Muthoot Managing Director Muthoot Group said “ This is a unique initiative undertaken by the students and a proud moment for the Institution. I hope this association is successful in moulding the students to become future leaders in the day to come”.  The college has already received AICTE approval and is affiliated to MG University for their five Engineering branches which include Electronics and Communication, Computer Science, Electrical and Electronics, Mechanical and Civil Engineering.  The campus lies on a beautiful site with landscaped areas and lush greenery. The campus  has the best, modern and advanced state of art infrastructure, with a scenic landscape spread over 15.5 acres. The college is also  equipped with latest technology and  facilities like central computing, central library, central workshop etc.

Can Fin Homes inaugurated 100th Brach at Begur

Bangalore, 5th July 2014: Can Fin Homes ltd., the Housing finance entity sponsored by Canara Bank, was  incorporated in 1987 and one among the top players in the country’s housing finance sector. It has completed 26 successful years.

Begur branch of the company is the 100th  branch and is mile stone in the company’s growth , this is 19th branch in Bangalore and 27th in Karanataka State. As a part of ongoing expansion  plan, Can Fin Homes will be opening nine more branches in various locations of the country, taking the tally to 109 branches by the end of this financial year.

Pratik Mantri is CREDAI Karnataka youth wing President

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The Confederation of Real Estate Developers’ Association of India (CREDAI) Karnataka has announced its Youth Wing for the second generation of developers. It will focus on three main areas — technology, research and CSR activities.

Mr Pratik Mantri, Director Mantri Developers , has been named as the President of CREDAI Karnataka Youth Wing. Mr Bimal Hegde, Director, Chartered Housing, is the President of Bangalore Chapter of CREDAI youth wing.

Speaking on the occasion Mr Pratik Mantri, President of CREDAI Karnataka youth wing, said, “The focus areas for the youth wing would be technology, research and CSR activities. We invite all young second-generation developers to come forward and become members of the youth wing.The wing is a platform where the second generation gets to interact and learn from other developers”.

There are 69 members in CREDAI Karnataka youth wing. Real estate developers, who want to become members of CREDAI youth wing, have to send their request to credaiyouthwing@credaibengaluru.com and the decision will be taken after processing the request. To become the youth wing member they have to be the members of CREDAI fraternity.

Mr Amardeep Singh Hira, Chairman of CREDAI Youth Wing of CREDAI National, inaugurated the event.

The event was attended by Mr.Pratik Mantri,President, CREDAI  Karnataka Youth wing, Mr.Bimal Hegde, President, CREDAI  Bengaluru Youthwing, Mr.Diipesh Bhagtani, CREDAI  National Convenor Youthwing, Mr.S.Suresh Hari, Secretary, CREDAI  Bengaluru, Mr.Sushil Mantri, Vice President, CREDAI  National, Mr. Ramani Sastri, Past President, CREDAI  Bengaluru, Mr.C.N.Govindaraju, President, CREDAI   Bengaluru, Mr.Irfan Razack, Past President, CREDAI  Bengaluru,  Mr.Amardeep Singh, Chairman CREDAI,  National Youth wing ,Mr.A.Balakrishna Hegde, Past President, CREDAI  Bengaluru, ,Mr.R.Nagaraj, President, CREDAI  Karnataka, Mr.B M Jayeshankar, Past President, CREDAI  Bengaluru, Mr.K.Sriram, Secretary, CREDAI  Karnataka .

Brigade Group recognised as one of Bangalore’s top 50 brands

Bangalore, July 2nd, 2014: Real estate developer Brigade Group has been recognised as one of Bangalore Hot 50 brands. Paul Writer, the country’s first community of marketers, recognised Bangalore’s Hot 50 Brands at the Bangalore Brand Summit recently. This is the first of its kind Bangalore brand marketing meet for the industry. The awards are premier marketing awards that recognises excellence of Bangalore brands, which have built strong relationships with customers. The jury included Mr Rajesh Gangwani, Senior Vice-President, JWT South; Mr Kartik Iyer, CEO – Happy Creative Sciences, Mr Xavier Prabhu, Founder & Chief Mentor at Business Hub Group, Mr Rajesh Kumar, Head of Marketing at SAP (Indian Subcontinent), Mr S Rajendran, Chief Marketing Officer at Acer India (Pvt) Ltd, and Mr Bhaskar Choudhuri, Director – Marketing at Lenovo.

“To be recognised as one of Bangalore Hot 50 Brands is a big achievement for Brigade Group, which goes on to prove that customer relationships are central for any brand to thrive” says Mr. M.R Jaishankar, Chairman, Brigade Group.

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