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October 2015

Flagship event of IndiaProperty.com : 7th Edition of Guruhapravesham in Bengaluru

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7th Edition of Gruhapravesham by IndiaProperty.com – 31st October to 1st November2015, 9.30 am – 8.00 pm –  Koramangala Indoor Stadium, Bangalore

Over 300+ new projects and plots ranging between 5 lakh – 5 crores by 80+ builders from Bangalore such as Salarpuria Sattva, Sobha, Vaishnavi Group, Puravankara, DLF, Shriram Properties, Expat, Aparna Housing to name a few will offer exclusive deals and discounts at the expo. In addition to Bangalore these builders will showcase their recent residential projects ranging from apartments, villas, individual homes to plots from Mangalore, Mysore, Ooty, Coimbatore, Chennai, Hyderabad, Kerala & Delhi NCR. Banking partners will offer home loan assistance and spot approvals.

Additionally property seekers attending Gruhapravesham can look forward to an experiential walk through of their future home using the Virtual Site Visit Kiosk by IndiaProperty. Do come and experience the latest technology in real estate being showcased at the event.

MANIKCHAND 117FF

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October 22, 2015, Bangalore:Manikchand Group grandly celebrated the launch of its Iconic landmark apartment complex MANIKCHAND 117FF at Jayanagar 7th Block (Opp. JSS School, Kanakapura Road). The event was a grand one with Laser show’sand fashion show Choreographed by Renowned Celebrity Choreographer M. S. Sreedhar. Some Of the Top Celebrity Models showcased the beauty of the property on the ramp. The event was hosted by celebrity anchor A.K.Rahman.

Fashion show and laser show at Inauguration of Manikchand 117FF

Manikchand Group in association with the Rajarajeshware Builddcon Pvt. Ltd launched MANIKCHAND 117FF, which is an ultra-luxurious apartment complex equipped with 117 apartments assuring complete privacy with no common walls and huge open spaces in every home. These apartments boast of ultra-modern amenities and ultra-luxurious specifications.

Located in the heart of the city, Jayanagar 7th Block, the residential complex is stylishly & thoughtfully designed with 2, 2.5, 3 & 4 BHK Homes with top end specifications and world class amenities like Infinity Pool on the 25th Floor, Terrace Garden, Roof Top Party Deck, 24th Floor Multi Gym, Spa, Multi-Purpose Hall & much more.

“We aim at providing luxurious accommodations in the center of the city where commuting to the work should not be a hassle.” Says Mr. Rasiklal Manikchand Dhariwal, Chairman, Manikchand Group.

MANIKCHAND 117FF brings you closer to nature as it is designed as per Indian Green Building Council’s standards who has rewarded it with Gold Certification.

The event was graced with the presence of the brains and hands behind the huge project, such as Mr. Rasiklal Manikchand Dhariwal Chairman, Manikchand Group

Shri. Krishnappa Setty Ex Minister,

Mr. Ramanlal M Sha Director, Rajarajeshware Builddcon Pvt. Ltd.

Mrs. Shoba Rasiklal Dhariwal Managing Trustee, R M Dhariwal Foundation

Ms. Jhanvi Dhariwal Managing Director, Oxyrich & RMD Prints

Mr. Dilip Surana Chairman, Micro Labs

Mr. Tallam Venkatesh Ex Treasurer, Chinnaswamy Stadium

Mr. Ramesh Gandhi Director, JITO – Pune Chapter

Mr. Mitesh J Sha Director, Rajarajeshware Builddcon Pvt. Ltd.

Mr. Ranjith J Sha CEO, Rajarajeshware Builddcon Pvt. Ltd.

Mr. Sanjit Sharma General Manager, Rajarajeshware Builddcon Pvt. Ltd.

Mr. T G Lakshminath Head Marketing, Rajarajeshware Builddcon Pvt. Ltd.

Mr. Indrajit Kembhavi Principal Architect, Kembhavi Architecture Foundation

Mr. Nita Kembhavi, Principal Architect, Kembhavi Architecture Foundation and the like.

 “With all the luxuries of life – like swimming pool, Terrace Garden,Roof top party deck and a party hall, the residents will hardly want to leave their homes. They will experience the luxury of a 5 star hotel right in their homes.” “This complex allows sharing and experiencing the Grandeur of capabilities towards a Luxurious and Elegant stay in the world renowned Bangalore city.” Says Mr. Ramanlal M Sha Director, Rajarajeshware Builddcon Pvt. Ltd

“These luxurious homes will be the signs of rich heritage and Splendid Growth of Bangalore with our luxury living offering for the elite First Families of Bangalore.” Says Mr. Indrajit Kembhavi Principal Architect, Kembhavi Architecture Foundation

“It is definitely not a mistake to buy a property at Manikchand because everything about this property is top class. Residents, specially the women will not face problems as in other residences like water, drainage, electricity, ventilation or anything as such.” Says Mrs. ShobhaRasikLalDhariwal.

“ Located in Jayanagar 7th block, it has ground + 25 floors, a wellness center, club house, swimming pool, and many more luxurious amenities. It is green building and has bagged a gold rate which is a huge advantage for the residents, they can live in a green environment, which is the new trend and also people can live healthier lives and live longer as well. Our imagination and motto is to maintain an international level in whatever we do. This property will be a milestone in Bangalore with such competitive pricing. It is Rs.11700/-per sq. ft. with all the amenities and will be ready to occupy in December 2018.” Says Mr. Raman Lal M. Sha, Chairman, Builddcon Pvt. Ltd.

Benefit of decision by Hon’ble Supreme court

The MLA of the party in power abused his office and authority and instead of protecting and giving shelter to the farmers tried his level best to bring them on road.  If such a person is again given a chance in future to contest the election either by the party or by the public at large by supporting him that would be a black day in the history of democracy.

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  The decision rendered by division bench of high court of Karnataka and confirmed by the Hon’ble Supreme court of India is a land mark decision in the realm of acquisition of agricultural lands for industrial purpose, the said decision is reported in ILR(2012 karnataka) and KLJ(2013). This decision not only helps the farmers in the territory of India but also, given a strong message to the farmers community as a whole to stand against the oppressive and despotic rule imposed by the persons having strong political power.

Story of the victory:

*As on the date of consideration of application made by Pariwartan  Alpsankhyatar Krishi Sahakar Sangh, this sangh was not in existence.

*The sangh did not have sufficient fund to deposit the mandatory amount with the KIADB.

*The former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency) was the president of the said sangh.

*The role of members on the register where kith and kin of   The former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency).

*This sangh was brought into existence with sole intention to grab the fertile lands of the farmers.

*There was no any public purpose nor any social work in setting up cold storage plant and food processing unit. The entire exercise was to make wrongful gain by causing immense loss to the farmers in and around the city of Belgavi.

*That the said former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency) willfully and deliberately picked up R.S. No:628,629,630. Measuring in all 13 Acres 27 Gunthas land just to take revenge against farmers group.

*It is pertinent to take that though said former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency) had, has his own land near R.S.No:628,629,630. None the less to fall his scheme he made a plot to due and defraud the farmers in question.

*The said former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency)  over powered the officials of the KIABD and State government to issue preliminary and final notification to acquire R.S.NO:628,629,630. The officials of  KIADB and the state government never enquired about the genuineness of the requirement  but yielded to the political pressure of The former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency) .

*The farmers challenged the acquisition being wholly illegal and not for public purpose, farmers also suggested who acquire baron lands lying near  Bhutaramatti and Kanabargi. Farmers further objected to the acquisition stating that the said The former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency) to take revenge against farmers community has forced and imposed the acquisition.

*The single judge of the Hon’ble High court in the first instance rejected the petition filed by the farmers challenging the acquisition of R.S.NO:628,629,630.

*The farmers preferred writ appeal before the Division bench of High court of Karnataka.the entire litigation was conducted in the high court from 2006 to 2012 and the matter was argued  before more then six to seven division benches of the high court.

*Finally the division bench comprising Justice D.Shailendrakumar and Justice Pinto heard the matter and was finally convinced by the plea taken by the farmers and opined that the acquisition of R.S.NO:628,629,630 is wholly illegal ; there is no public purpose and further a strong observation is recorded expressing that the officials of the KIABD And a state government surrendered to the  dictates of the mla in power and the whole acquisition was colorable exercise of the power vested with the state government.

* Thus the division bench quashed the entire acquisition proceedings.

*As against the decision of the division bench of the Hon’ble high court of Karnataka the said The former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency) on behalf of Pariwartan Alpasankhatar Krishi Sahakar   Sangh, KIADB and the State government preferred three SPECIAL LEAVE PETITIONS before the Supreme court of India. Initially subject to the deposit of rupees sixty lakhs the notice was issued by the supreme court to the respondent  farmers but on 8th September 2015 while the matter was listed for admission the bench consisting of Justice Mr.Dushyant Dave and Justive Mr.Adarash  Kumar Goel outridely dismissed all the three SPECIAL LEAVE PETITIONS filed by the  former  Bhartiya janata party MLA Abhaykumar  Bharamgouda Patil (Belgavi south constituency) on behalf of Pariwartan  Alpsankhyatar Krishi Sahkar Sangh, KIADB and the State government.

*Hence the farmers in and around Belgavi city won the battle against land mafia ex mla and administration working under his dictates.

Vista Rooms creates India’s first functional app on Instagram

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Mumbai, October 21’ 2015 – Mumbai based online branded budget accommodation aggregator, Vista Rooms has created a fully functional app-like experience on Instagram where travelers can browse locations and property options as well as book a hotel of their choice. This is perhaps the first time in India that a brand has attempted doing something of this sort. This entire app-like experience on Instagram has a richer feel than the website and can be extended to exploring, booking and even reviewing the property. Vista’s one pointed intent was to use Instagram as a standalone mobile application that can serve both as an app and a social networking tool.

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The Vista Rooms page can be accessed by searching for @vista_rooms on Instagram. A user would then be directed to the page filled with photo locations.  On tapping these photos, users are directed to other fully featured pages where information on the property, local food, places of interest, culture are available. The user can choose a location (eg:Goa), check out the features of the location, listed properties in Goa, photo of the room, description and rate. The user can then click on the link to book the room and will then be directed to the booking site on a regular browser.  

Since their inception in April this year, Vista Rooms have been focusing on reaching out to customers by leveraging social media in unconventional ways. While most brands run tried and tested campaigns on social media platforms, Vista Rooms wanted to walk a different path and came up with this innovative way to engage with their customers. Vista Rooms operates as a lean-mean team and the drive right from the beginning has been on frugal marketing, which has helped expand to over 500+ properties in 60 + locations in India in a little over three months.What is even more striking is that this whole experience was created on Instagram by a lean in-house team with no external agency support, the only investment being relentless efforts and time.

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Amit Damani, Co-Founder and Head of Online Sales & Marketing, shared, “While Instagram is typically used by brands for static visibility, we saw an opportunity to leverage Instagram as our standalone mobile platform where users can experience an entire journey from discovering to booking and then even reviewing their stay on the same platform.”

Vista Rooms is active on all social media platforms like Facebook,Twitter, Linkedin for regular posts on discounts, alliances and other company updates. Besides regular travelers, Vista Rooms aims to reach out to virtual travelers who are perpetually looking at tourist destinations.

Ankita Sheth, Co-Founder & Head of Partnerships, explained, “Brands have spent a lot of time, energy and investment on building basic, functional apps. As a start-up, we wanted to stay resourceful and instead of making a big investment for an app, we felt we could leverage existing platforms to reach out to a wider audience more effectively. At the ideation stage, this whole idea stumped us; but as the idea started formalizing, we realized that Instagram has a huge untapped potential.”

“By creating the Vista Rooms app on Instagram, we wanted to revolutionize customer engagement via social media. The Vista Rooms app on Instagram would inspire, excite and engage both potential and existing customers.” adds Ankita.

Vista Rooms started as an online hospitality startup specializing in aggregating and providing standardized accommodations across India. Vista Rooms is spreading its network in smaller Tier II & III cities across India where there is a major need for standardized budget travel accommodations. As the company understands that there is lack of trust and faith amongst customers whilst traveling over to these hubs, it is focusing on ensuring a service that retains its quality and faith over its customers.

Please find the video link to explainer video here: https://www.youtube.com/watch?v=eOtQfncdD5Y

Havells redefines domestic switchgear business; to focus on solutions based approach for new age & smart consumers

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Bengaluru, October 19th, 2015: Havells India Limited, a $1.4 billion leading Fast Moving Electrical Goods (FMEG) Company with a strong global footprint, today shared it new approach to domestic switchgear business in the state. The company for the first time is looking at offering solutions in-line with consumers demand for latest technology matching modern day décor. The new range of products will provide enhanced safety, security and appeal, keeping in mind the growing base of young consumers. The company already is a market leader in domestic switchgear business in the country with over 28% market share.

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The company launched its innovative range of switchgear products comprising of Automatic Changeover with Current Limiter (ACCL), Euro II series MCBs & RCCBs and premium & super premium range of distribution boards. These latest & safest yet aesthetically appealing switchgears would safeguard residences from any electrical issues. Havells has different solutions for commercial and industrial applications.

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Havells ACCL is a fully automatic high precision microcontroller based ‘Source Changeover’ device that offers easy and ‘controllable’ changeover between main power supply and generator supply, and helps in overcoming the problem of increased downtime and disruption in key activities. Havells is also the first organized sector company in India to manufacture ACCL.

Over the years consumers’ expectations have changed but switchgear sector continued to use technology developed in 70s & 80s. Euro II series of Switchgear is completely designed, developed and manufactured in-house surpassing all the expectations of modern day consumers. The consumers typically use multiple appliances these days that often overload the wiring system. Euro II series not only provides protection against overload, short circuit and electric shock (earth leakage) but it has also been designed as one of the most user friendly Circuit Breakers available in the country in line with global specifications. The entire range of Euro II switchgears would be provided to consumers at no extra cost.

Distribution boards are fast becoming part of the living room. Until now, most people used to hide distribution boards as they did not gel with overall aesthetics of the living room. For the first time in the industry, Havells has launched a range of premium and super premium range of distribution boards that matches with modern day décor and aesthetics. The new range of distribution boards offers unique metallic finish and colours for modern homes. It also comes with magnetic locks, sleek curves, scratch resistant glossy surface with metallic paints and designer handles. Initially, the premium range will be available in metallic silverish grey/golden sparkle and sparkling white colors and super premium range will be available in wood, marble and leather finish. For the first time in the industry, the company would offer a choice to consumers to buy door of distribution box separately to suit their home interiors.

The company manufactures the entire range of its switchgear products in-house at its plant in Baddi, Himachal Pradesh.

Speaking at the occasion, Mr. AV Jagdish, Vice President and Head of Switchgear Segment, Havells India Limited, said, “I am happy that once again we are redefining the industry. Consumers and their expectations have changed and the new approach is more flexible and will help us further strengthen our business. The state is among the early adopters for new trends. Therefore, for an innovative company like us, Karnataka becomes a key market. We believe that for catering to a smarter India, one should withstand the tests posed by smarter states. We are excited to build upon our product portfolio and market share by empowering our customers”.

The company has a strong presence in the state with a network of over 400 dealers and distributors in more than 60 cities across the state. At present, the company has 41 galaxies and plans to launch 9 more galaxies by 2016. Through its dedicated efforts in the state, Havells targets total revenue of Rs. 500 cr by 2016. The company is also planning to expand its reach to Tier 2/3 cities and towns and increase the retail network.

India’s organized domestic switchgear market is estimated to be Rs.2100 – 2200 crore per annum for FY15-16. Havells continues to retain its No.1 position in the category with market share of about 28% with a pre-eminent position in both domestic switchgear categories.

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Assetz Property Group Sponsors the Bangalore Rugby Football Club

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Bangalore, October 15, 2015: Assetz Property Group (APG) today announced its association with the Bangalore Rugby Football Club (BRFC) as the team’s main sponsor for the ongoing All India and South Asian Rugby Tournament. As part of its focused community development efforts, the company strives to make a positive contribution by supporting local youth sports activities.

Through this partnership Assetz hopes to assist in the growth of rugby in India, a sport that was brought to India by the British but never really gained popularity like cricket, football or hockey did. Rugby requires strength, endurance and fitness; the sport has a number of health benefits, and inculcates a great deal of self-discipline and team skills in a player.

On this announcement Ben Salmon, CEO & Founder, Assetz Property Group said, “I am a big fan of the sport. In fact, when I first moved to Bangalore in 2005, I was a regular stand-in player during the BRFC training sessions. Ten years older and not so fit now, I would love to throw the ball around the pitch with the team. They are a great bunch of people and their passion for the game is commendable. Assetz is happy to be part of their journey and we wish them the best for the tournament.”

Bangalore Rugby Football Club (BRFC)

In its 82nd edition, The All India and South Asian Rugby Tournament is one of the oldest rugby tournaments in the world, hosted every alternate year at the prestigious Bombay Gymkhana Club, Mumbai and at the CC&FC, Calcutta. It is the premier 15-a-side rugby tournament held in India.

Brigade Group completes Brigade Meadows- Phase 1 – The first Integrated Enclave on Kanakapura Road, Bangalore

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Bangalore, 17 October 2015: Brigade Group, one of India’s leading builders headquartered in Bangalore has over the past 29 years created many landmark and innovative projects across South India. Brigade Meadows is the first integrated enclave on Kanakapura Road. The completion of Phase 1 of Brigade Meadows was formally announced today by Mr. M R Jaishankar, Chairman and Managing Director of Brigade Group.

Brigade Meadows, on Kanakapura Road, is spread over 60 acres. It has both 2 & 3 bedroom Value homes and Luxury apartments that come along with conveniences of a Kindergarten School, Primary Healthcare, Shopping Centre & Small Offices, Recreational and sports facilities like Tennis, Badminton , Volley ball, Basketball courts, Practice Cricket pitch with several children play areas and large open green spaces. Environmental friendly initiatives like Rainwater recharge pits, Rainwater harvesting lake, Open wells, Bird park/mini forest, solar water heaters and State of the art Organic waste convertor with dry /wet waste segregation facility have been incorporated in the project.  The project has been well received by customers and the first phase of 1600+ apartments has been completed.

The project is strategically located on Kanakapura road, Next to Art of Living, which is South Bangalore’s new corridor of growth. It is only a short commute to Electronic city & Bannerghatta Road and easy accessibility to Airport via NICE road, making it a very well connected location. With the proposed metro station nearby along with a number of Educational Institutions, Hospitals, Offices, Retail and Entertainment options, this stretch offers a strategic mix of accessibility & convenient living.

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According to Mr. M.R Jaishankar , Chairman and Managing Director, Brigade Group “Brigade Group pioneered the concept of integrated enclaves in Bangalore and has already completed Brigade Millennium, Brigade Metropolis and Brigade Gateway that have become landmarks in Bangalore. Brigade Meadows is the latest addition to the integrated enclaves by Brigade Group in Bangalore and is the first Integrated enclave on Kanakapura Road. It has been well received by our customers ”.

 For information on Brigade Meadows, please visit BrigadeMeadows.in

Bengaluru, Mumbai and Delhi are the Top 3 cities globally in office rental yields! Knight Frank Report

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Bangalore, October 15th , 2015: Knight Frank today launched the second edition of its flagship global report-Global Cities – 2016.The report provides a comprehensive outlook for real estate in 21 of the leading business cities and forecasts for the next 5 years. This time around Bengaluru and Delhi are also a part of the analysis apart from Mumbai which was included last year.

Keytakeaways:-

  • In comparison with London and New York that offer rental yields at 4 per cent, Bengaluru, Mumbai and Delhi lead the pack with 10.5, 10 and 9 per cent respectively (refer to table no.1)
  • Current office rentals in Mumbai and Delhi are lower than the 2007 peak levels by 17 and 19 per cent respectively; Bengaluru holds forte with an 8 per cent growth
  • Mumbai and Bengaluru feature among the list of top 5 global cites in terms of future rental growth – expected to grow to the tune of nearly 22 and 16 per cent respectively
  • The Delhi – Mumbai Industrial Corridor (DMIC) finds a place among the top 5 global infrastructure projects – expected to create new business clusters and generate unprecedented employment opportunities
  • The Indian REIT sector to give a further push to commercial real estate; Could attract investments worth $100 bn in the next few years
  • While London and San Francisco witnessed the highest rental growth for high-rise offices (skyscrapers), Mumbai has also shown a healthy traction in high-rise rentals
  • 67% of investments into Indian real estate coming in from overseas investors – highest all among other nations

 

Table 1– Prime rental yields across 20 global cities – end of 2015 forecast:

 

Rank

 

City

Prime Rental Yields
1 Bengaluru 10.50%
2 Mumbai 10.00%
3 Delhi 9.50%
4 Mexico City 7.00%
5 Shanghai 6.30%
6 Beijing 6.30%
7 Melbourne 6.10%
8 Sydney 5.75%
9 Chicago 5.40%
10 Washington DC 5.00%
11 Los Angeles 4.90%
12 Frankfurt 4.50%
13 San Francisco 4.00%
14 New York City 4.00%
15 Madrid 4.00%
16 Tokyo 3.70%
17 Singapore 3.70%
18 London 3.50%
19 Paris 3.50%
20 Hong Kong 2.90%

Source: Knight Frank, Newmark Grubb Knight Frank, Sumitomo Mitsui Trust Research Institute

Table 2 – Forecast for Office Rental Growth for the period between end of 2015 to end of 2018

Rank   City Rental Growth
1 Madrid 22.2%
2 Mumbai 21.3%
3 San Francisco 20.2%
4 Melbourne 15.8%
5 Bengaluru 15.8%
6 London 13.6%
7 Los Angeles 12.5%
8 Hong Kong 12.0%
9 Paris 9.8%
10 Chicago 9.3%
11 Washington DC 8.5%
12 Sydney 7.7%
13 Shanghai 6.1%
14 New York City 5.8%
15 Tokyo 5.3%
16 Delhi 5.0%
17 Frankfurt 3.5%
18 Mexico City 1.5%
19 Beijing 1.8%
20 Singapore -3.0%

Source: Knight Frank, Newmark Grubb Knight Frank, Sumitomo Mitsui Trust Research Institute

Talking about the findings,Shishir Baijal, Chairman & Managing Director, Knight Frank India,said” Indian office market has been maintaining the healthy traction of 2014 and has clocked office space transactions of 18 million sq ft in the first six months of 2015 and we expect the year to complete at around 40 million sq ft which is the highest since 2011. This is a record year for Bengaluru which is expected to transact office space to the tune of around 12 million sq ft in 2015.Even though at an aggregate level, the vacancy is at 17 % the challenge is to get good quality office spaces across prime business districts, wherein vacancy is in single digits. Due to a robust demand from start-ups and e-commerce, other than IT/ITeS, BFSI and manufacturing, office rentals are experiencing a substantial surge. Going forward, we foresee demand to continue outstripping supply.”

Also added,Dr.Samantak Das, Chief Economist &National Director of Research, Knight Frank India saidWhile Bengaluru, Mumbai and Delhi are offering the highest yields globally of 9-11% ­­, we see a lot of interest from the investor’s fraternity in the last one year which was preceded by a period of prolonged slowdown. Office markets across the top cities of India are continuing with its turnaround trend observed in 2014. This is backed by robust economic growth and focus on infrastructure & ease of doing business. However, rentals across Mumbai and Delhi are still below the 2007 peak levels, though Bengaluru is an outlier wherein rentals are 8% more. Currently these cities are facing an acute shortage of good quality office space on the face of robust demand which is creating an upward pressure on office rentals that is expected to scale up in the range of 6- 7% in the next six months yoy.”

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