Search

PROPERTY NEWS FOR YOU

Month

April 2015

“Muthoot Homefin (India) Ltd” housing arm of The Muthoot Group reduces interest rate on home loans to 9.90% p.a.

image001

Bangalore, 30th April 2015,: The Muthoot Group, one of India’s leading business conglomerates, launched its 17thdivision ‘Muthoot Homefin (India) Ltd’, the housing loan vertical recently. Muthoot Homefin (India) Ltd is registered with National Housing Bank and extend housing loans to borrowers from Rs 1 Lakh to Rs 500 Lakhs  for periods up to 30 years. Repayment of the amount shall be through equated monthly instalments and on diminishing balance basis.

The company started its operations by offering competitive pricing of 10.20% p.a onwards. Muthoot Homefin (I) Ltd has reduced the interest rate on housing loans to 9.90% p.a onwards from 29.4.2015, in line with the reduction in interest rates effected by some of the major players in housing loan segment. The launch offer to sanction loan applications received for the first month period from 16.4.2015 to 15.5.2015 at an attractive discount of 50% in processing fee is also available.

SILA enters on-demand home services space with the launch of ‘MR. HOMECARE’

 1723328_1623709431185291_2341953964714992944_n

The on-demand home services market in India is at a nascentstage, and is expected to witness an annual growth of 30%. The market is dominated by unorganized players which constitute over 90% of the overall market. Households spend about Rs. 15,000-Rs. 18,000 annually for on-demand home services.

Mr.Homecare

Leveraging on the experience that SILA has built over the last few years in the Facility Management Services space; new age entrepreneurs, brothers Sahil Vora and Rushabh Vora launched Mr. Homecare (www.mrhomecare.in), an on-demand Home Services Company, backed by a robust technology platform.

Mr.Homecare- 2

Anand Piramal, of the Ajay Piramal Group has invested an undisclosed amount in the seed round of Mr. Homecare. Additionally, Mr. Homecare also has commitments for around$500,000 as Compulsorily Convertible Debentures (CCD) in a ‘pre-Series A’ round from a group of financial investors, which they plan to close in Q1FY16.

The funds for this project will be predominantly used for,

  1. Enhancing the Technology, Mobile application to allow affiliates to join the platform; building a managed marketplace.
  2. Geographical expansion to Pune, Bangalore and Delhi within the next 6 months.
  3. Adding services like Plumber/Electricians on call, Car Care, Interior Works and Laundry.

Commenting on the launch, Mr. Sahil Vora, Founder, SILA, said, “We are excited to announce the launch of Mr. Homecare, an on-demand services platform as a derivative of our current business at SILA. The on demand services market in India is growing at a rapid pace and is largely unorganized at the moment; reasons why we see animmense business opportunity. Our vision is to be an extension of each Home, with the philosophy that ‘Your Home is Our Care’.”

“Leveraging the experience we have gained over the last 5 years in managing over 5 million square feet of real estate with over 1200 employees, we have started with Deep Cleaning and Pest control services in Mumbai.Weplan on extending these services lines to others like AC maintenance, Plumber/Electricians/Carpenters on call, Car Care while also expanding geographically to Pune, Bangalore and Delhi within the next 6 months.” Said Mr. Rushabh Vora, Co-Founder, SILA.

SILA has been a Facilities Management service provider, managing various assets for our Group companies over the last 4 years. We have remained impressed by the professionalism of their service, combined with the enthusiasm of the Founders. The on-demand home services market is a natural extension of their existing Facilities Management business and caters directly to the evolved consumer of today.”said Piramal Junior, Anand Piramal.

Even though this space is nascent in India, globally this space has received a lot of Venture Capital interest and funding over the last two years.

Pergo’s Original Excellence collection Right floors for the Right place

pergo 3

Commercial spaces require the right flooring, that reflects the vision and professionalism yet be able to withstand the heavy traffic. Be it an office, a shopping mall, hospital or a bank, Pergo’s latest collection,Original Excellence (AC-5 Grade) Class 33 is strikingly attractive flooring for commercial space and the perfect way to stand out and make people take notice.

pergo 4

Quick and simple to install, you can have a professional and authentic looking floor in next to no time.Pergo’s latest collection, Original Excellence is available in 25 attractive decors and is strikingly attractive flooring from a design point of view. Pergo is recognized around the world as a leading innovator of high quality laminate flooring brand. Pergo first introduced and invented laminate flooring 35 years ago and has been refining its attractive exceptional qualities ever since.

Pergo, the global leaders in laminate flooring continue to add style, quality and durability to floors everywhere, with their latest Original Excellence collection. The decors in this range attract attention through its exclusive flooring. The new range consists of single strip, multi-strip plank pattern with different shades of Walnut, Merbau, Oak, also the GenuineTM sawcut, GenuineTM wood; GenuineTM rustic surface structure creates an intensive experience of space in your room. Original Excellence Collection is designed for handling high wear public or home areas with very high wear and comes with a lifetime guarantee for residential usage. Commercial warranty is also available on request. With this Original Excellence Collection update to Original Laminate flooring section of Pergo, the installation technique is upgraded to PerfectFoldTM 3.0. Now, one can get Pergo laminate flooring installed at their home or offices 30% faster than before; this is made possible by introducing revolutionary PerfectFold 3.0TM installation technique.

TitanX TM Advanced coating provides Pergo laminate flooring the best wear, scratch, fire resistance in the industry. The Hygienic property of Pergo laminate flooring promises its customers the best resistance against bacteria formation. Pergo laminate floors eliminate static electricity as they are Anti-static in nature. Original Excellence is the perfect combination of attractive design and presentation to revamp a place with the finest flooring. Formats available in this range 2050 x 205 x 8 mm, 1200 x 190 x 8 mm, 1200 x 123 x 8 mm.

Mantri Developers felicitated at Golden Globe Tigers Awards

nehal-mantri-jan-12-01-2014

Mantri Developers Pvt. Ltd, leading real estate developers in South India was conferred with prestigious awards and meritorious recognitions at the Golden Globe Tigers Awards. The company was applauded for their exemplary performance in the real estate sector at the recently held award ceremony in Kuala Lumpur, Malaysia. The event saw participation of veterans and pioneers from numerous versatile industry verticals.

On receiving the award, Ms. Snehal Mantri, Director – Marketing and HR, Mantri Developers Pvt. Ltd., said, “It gives me immense pleasure to receive this esteemed award of woman super achiever. Above all, it is indeed a matter of great pride and honor to receive this international recognition from Golden Globe Tigers Awards for our initiatives and works. In all the years that I have been at Mantri, it has been a continuous effort to introduce satisfactory and dedicated services to customers in the real estate industry. These awards offer the much needed impetus to continue our organizations goal to strive for excellence.”

Inauguration of India Kitchen & Cabinetry Show 2015 in Bangalore

 IKCS 2015 - Inaugurations

Bangalore, April 17, 2015: The fifth edition of India Kitchen Congress, the annual knowledge event of the modular kitchen industry, was inaugurated today, along with the much awaited kitchen exhibition, ‘India Kitchen & Cabinetry Show’ at the Bangalore International Exhibition Centre (BIEC). The exhibition will be on till April 19, and open to visitors from 10.00 am to 6:00 pm. India Kitchen & Cabinetry Show (IKCS) is a distinguished platform for the kitchen industry that brings together customers, manufacturers, channel partners, and designers of looking for and specific solutions   in kitchens, storage solutions, appliances and accessories.

The exhibition witnessed over 3,000 footfalls on the first day and expecting more than 5,000 participants during the weekend. The exhibition witnessed the presence of top brands, from the kitchen industry, including Acrysil, Alstone, Biesse, Blum, DuPont, Hafele, KAFF Appliances, Elenza (Krish Furniture Components), King Slide, Niemann, and Pidilite.

Speaking at the inauguration of the exhibition, Ramu Ramakrishnan, MD, Leitz India, said, “Over the last few years, IKCS has grown to become a very important annual event for the kitchen industry. This year the exhibition showcases the latest development in the industry.” G K Hegde, Regional Manager – Southern Region (Bengaluru), Indo-Italian Chamber of Commerce & Industry, noted , “This is a very timely initiative that brings all the stakeholders of the industry under one roof. The exhibition along with a day-long conference will help people know more about the industry, and various new products and services.” Echoing similar thoughts, Sharad Mathur, MD, Lixil India Pvt Ltd, said, “IKCS is a good platform that engages the stakeholders of the kitchen industry, which has seen significant growth.”

“Forums like the IKCS prove to be very valuable to all industry stakeholders where ideas, best practices and experiences can be openly shared with one another,” averred Juergen Wolf, MD, Hafele India. He further added, “While affluent customer segments have already transcended to adopting new trends and technologies in kitchens, the middle classes are not far behind. There is always an aspirational drive among the middle class segment to adopt a progressive lifestyle.”

Snehal Vasani, MD, Kitchen Grace, said, “The rapid transformation of the Indian kitchen, and the fact that more new dwelling units will be built in the coming years, emphasizes the need for a distinct kitchen design discipline as is present in western countries. Certified kitchen designers provide support architects and interior designers, and their presence is a must wherever kitchen renovation or construction is involved. Design institutes in India need to wake up to this growing need and include kitchen design into their curriculum so that an organised profession can develop”. Sharing his thoughts Pradeep Devaih, MD – PDA Trade Fairs, said, “Exhibitions, like IKCS, are an essential avenue as it brings all the stakeholders of the industry together.” Geeta Kewalramani of Toronto-based Kimaya Designs, noted, “Tradeshows and conferences are a lot more than just essential tools for industry professionals to stay current and ahead of the curve in terms of industry trends, products, and education. Attending and participating, facilitates the opportunity for advancement both professional and personal through connection and networking. For kitchen industry professionals, attending a conference show, like the IKCS, is a must attend and not to miss opportunity to learn, network, and grow with the ever advancing industry peers.”

During the occasion Deepak Gupta, Director, Bracecorp Publications and also the show organiser said, “The Indian modular kitchen industry is considered to have a market size of Rs 2,500 crore and a growth rate of 25% per year. Additionally, the built-in appliance segment of the white goods sector is growing at a significant rate. India Kitchen Congress and India Kitchen & Cabinetry show aim to further boost both these product segments which are undergoing tremendous development in terms of technology, user behaviour, market expansion and investment in manufacturing”.

After four years of steady growth, he added, the kitchen and cabinetry exhibition has emerged from the shadows of the conference – India Kitchen Congress. Henceforth India Kitchen & Cabinetry Show will be an independent trade exhibition, to be held in parallel with the conference. This will provide visitors to get the benefit of attending the exhibition independent of the conference and workshops.

New equipment to guard your home: Home Guard

BOX_PHOTO

Bengaluru: City based SB Technologies has developed an uniqueequipment which can alert you when a thief tries to rob your home whenyou are away from the home. This multipurpose endogenously equipment
can be used even to control the water level in your over head tankbeside providing emergency security facility to the elderly members of the family.

According to Mr. Srikanth, MD of the SB Technologies, this equipmentcan protect the house/ building an affordable cost. If any thief/burglar attempts to enter the house, this equipment makes a distresscall to the two mobile numbers entered in the machine with in sixseconds. First it contacts the first number. If no one picks the call,the call would be forwarded to the second number. If call is notreceived even in the second number, a SMS would be sent to both thenumbers. Call will be in both Kannada and English enabling the ownerto alert the police/ neighbors over the possible theft in his home. Ifthe equipment was in emergency mode, it willmake an emergency Sirenalerting the locals. All these process will complete with in oneminute which ensures proper protection to the house.

7353775422- www.homeguard.in

This equipment can work continuously for 48 hours withoutany recharge. Call/ SMS cost is just Rs.20 per month. Battery of theequipment which is costing Rs.250  needs to be changed once in twoyears.

Other features; Another important feature of this equipment is it willhave three switches inside the home. If any onebarges inside the homewhen only elderly persons are there, they can press it. It will givesiren sound alerting the neighbors. Water also can be filled to theover head tank through this equipment.

According to Mr. Shrikanth, this new equipment is developed keeping inmind the concept of Make in India call of the prime ministerMr.NarendraModiji. “Definitely this equipment is very much needed in allthe homes to ensure total protection from any kind ofexternal attacks,”

The Muthoot Group launches its 17th division “Muthoot Homefin” for affordable housing loan

image001

14th April 2015, Kochi: The Muthoot Group, one of India’s leading business conglomerates, today launched its 17th division ‘Muthoot Homefin’, the housing loan vertical at an event in Kochi. Present at the launch were George Alexander Muthoot, Managing Director- The Muthoot Group, George Thomas Muthoot, Managing Director- Muthoot Homefin India Ltd, and Mr. K P Padmakumar, Executive Director, Muthoot Group. Muthoot Homefin will extend housing finance to enable customers to fulfill their dream to build/acquire a residential space of their own.

The group will offer competitive pricing and speedy decisions to create an edge in the housing loan segment. Muthoot Homefin will offer housing loans from Rs 1lakh to Rs 500 lakh at interest rates from 10.20% p.a onwards for periods up to 30 years. Repayment of the amount shall be through equated monthly instalments and on diminishing balance basis. Loan Against Property (LAP) will be offered in the range of Rs 10 lakh to Rs 5 crore for a period up to 15 years with interest rate of 13% onwards.

Muthoot Homefin plans to launch the services for the customers from 15th April, which is an auspicious day for the people of Kerala. The Muthoot Group will offer to sanction loan applications received for the first month period up to 16.5.2015 at an attractive discount of 50% in processing fee. The group plans to commence operations in the State of Kerala and will expand operations to other parts of the country successively.

mail 01

Speaking at the event George Alexander Muthoot, Managing Director, The Muthoot Group said, “There is an ever increasing demand for residential housing with an increase in population and growth of cities and towns. We at Muthoot Group are very happy to announce the launch of the 17th division, Muthoot Homefin in the housing finance sector. There is no place like home and with Muthoot Homefin we are delighted to extend our services bouquet to our customers to avail easy loan for their dream homes. We assure to offer housing loans at attractive interest rates with speedy sanctions and disbursals of loans.”

Loans will be extended to salaried, self Employed with and without IT return. The customers can generate leads and enquiries directly through phone/email/website and through the branches of Muthoot Finance Ltd and other group entities. The loan scheme motivates customers to influence prospective buyers of residential units and who want to construct independent houses or do improvement to existing properties. The company as of now plans to extend the loans to customers in Kerala and gradually extend the operations in Tamil Nadu, A.P and Karnataka followed by North India.

 

Brigade Group wins prestigious NDTV Property and CARE awards

brigade

CMD Mr.M.R Jaishankar  wins ‘Outstanding contribution to the Real Estate Sector’ award

Bengaluru, April 13, 2015: Premier real estate developer Brigade Group has won several awards at the NDTV Property Awards and CREDAI Awards for Real Estate (CARE) recently. The developer won an award in the ‘ Budget Apartment Project of the year – Tier 1’ category for Brigade Meadows at the NDTV Property Awards. Brigade Meadows consists of primarily 2 and 3 bedroom luxury apartments and a few 1 bedroom options  At CARE, Brigade Group won 4 awards across various categories. The awards were split across three zones – North Karnataka, South Karnataka and Bangalore.

Commenting on these awards, Mr M.R. Jaishankar, Chairman and Managing Director, Brigade Group, said, “These awards are recognition of our efforts to deliver quality projects across real estate markets. We are very happy to receive these awards which also prove our customers’ faith in our projects.”

CREDAI Awards

Brigade Group won awards at the second edition of CARE in the following categories:

·  Best Best Dwelling below 1500 sqft (Residential) in South Karnataka – Brigade Sparkle, an affordable luxury project in Mysore.

·  Best Commercial Complex in Bangalore – Brigade Rubix, which has a unique design and offers office spaces from 100 sq ft upwards.

·  Best CSR work by a Developer – Brigade Group received this aware for the redevelopment of the Kempegowda playground in Malleswaram and the Skywalk on Dr. Rajkumar Road.

The most prestigious award of the evening was the one bestowed on Mr M.R. Jaishankar, CMD, Brigade Group in the Special Awards Category – ‘Outstanding contribution to the Real Estate Sector’ award.

Accepting this award on his behalf, Ms Githa Shankar, wife of Mr.M.R Jaishankar and Director of Brigade Group, said, “It has been a journey of hard work from every one of our colleagues who have worked intensely to bring things to this pinnacle. It is indeed a proud moment to be recognised by our peers and the real estate fraternity. This is akin to an Oscar moment for the company.”

Other awards and recognition

Brigade Group’s Chief Financial Officer, Mr Suresh Kris has been recognized as one of the Top 100 CFOs in the country for 2015 by theCFO India Magazine.  Mr Kris was presented the Roll of Honour for his exceptional calibre and contribution to the world of finance by Mr. U.K. Sinha, the SEBI Chairman at a ceremony recently in Mumbai.

At the GLOBAL Real Estate Brand Awards – 2015 held recently in Bangalore, organised by Exhibition Asia, Mr  Manjunath Prasad, COO – Projects, Brigade Group, was awarded the “Most Enterprising Real estate Professional of the Year”.

Mr. Ganesh Vasudevan, CEO, IndiaProperty.com on Real Estate Regulatory Bill approved by the Union Cabinet.

Ganesh Vasudevan, CEO, IndiaProperty.com

“The cabinet approval of the long pending Real Estate Regulatory Bill is a positive first step towards bringing in the much needed transparency to the sector. The Bill will bring about a common regulatory platform for all stakeholders in the industry thereby ushering in a higher degree of accountability amongst builders and sales intermediaries.

The Bill in its current form applies to both residential and commercial real estate, and is far more comprehensive and holistic in approach, addressing both the regulatory and development oriented aspects of the industry. The following features are notable-

1.     Creation of state wise regulatory authorities for the sector

2.     Mandatory registration of real estate projects and agents 

3.     Mandatory public disclosure of all project details- will go a long way in ensuring easier scrutiny on compliance to approved plans, progress on statutory approvals etc.

4.     Functions and duties of a promoter are clearly defined- will bring in greater accountability on the part of builders and give room for a clear locus standii for buyers to pursue legal proceedings if any against errant builders

5.     Builders are required to deposit 50% of the amount realized towards bookings on a project in a commercial bank account within 15 days of receipt, and deploy the funds for construction of the project. This will ensure better adherence to delivery timelines and will also minimise cost overruns due to delays on account of inadequate capital.

6.     Functioning of real estate agents will be better monitored as they are required to register themselves with the Regulator. However the Bill does not propose any mandatory training program or certification required to operate as an agent. Also agents are required to sell only registered projects. This will help control price rise to a great extent particularly in investor dominated markets.

7.     Punitive measures outlined for transgressions by builders

8.     Responsibilities of the allotees is also defined making the bill a lot more enabling and development oriented.”

Create a free website or blog at WordPress.com.

Up ↑