Thursday, April 23, 2009

Mittal Grandeur: combining modernity with tradition

After five decades in the real estate business, Mittal Builders has earned a name for itself for its commercial buildings in the financial capital of Mumbai. Its buildings – Mittal Tower, Mittal Court, Bajaj Bhavan, Mittal Chambers – in Nariman Point, the Manhattan of Mumbai, have become famous landmarks.

The company’s high-quality, state-of-the-art offerings combine efficiency and world-class design, and deliver everlasting value

Mittal Commercia is the latest feather in Mittal Builders’ cap. The 12-storey commercial complex is located in Mumbai’s western suburb of Andheri (E), close to Mittal Industrial Estate and the Sahar International Airport. A center of commercial activity, the complex is surrounded by five-star hotels, banks, and telecommunication and business centres.

Mittal Builders have spared no effort to provide top-of-the-line amenities to discerning buyers. These include emergency power supply, fibre optic connectivity with ISDN/ DIDN lines made available on request, building automation systems for fire and security. The entire structure is in M30-grade concrete and is earthquake-resistant, confirming to ISO 1893-2002 and Zone 3 specifications. There are large lobbies and common areas with granite/ granamite flooring and spacious car parking facilities at the ground and basement levels.

Modular units 1,000 sq ft onwards provide a great deal of flexibility in creating office spaces. There are large floor plates, with high-span column-free spaces, for effective floor planning. The building has state-of-the-art futuristic elevation and high-speed elevators. Each modular unit is self-contained and there is a dedicated provision for AC (for centralized or split air-conditioning) in each unit.

A beautifully landscaped area around the building adds to its aesthetic value. It’s certainly a building that’s Mumbai’s latest landmark, and will be a most-sought-after address for offices.

Saturday, April 18, 2009

Govt to set up panel to script model realty bill

PROPERTY buyers can heave a sigh of relief, with the government proposing to set up a 10-member committee to give final shape to a bill for regulating the real estate sector. The government has been toying with the idea of regulating the real estate sector to give some relief to consumers so far at the mercy of developers and real estate agents. 
    According to a notification issued by the Union government, the ministry of housing and urban poverty alleviation 
has decided to set up a committee to discuss various provisions of the bill to tweak it to meet the needs of the current market trends. 
    “It’s a positive development. However, the committee has to include the views and suggestions of all the people connected to the real estate industry, particularly, MCHI because Mumbai is the prime real estate mar
ket in India.” Pravin Doshi, president, Maharashtra Chamber of Housing Industry (MCHI), said. 
    As per the ministry notification, the 
committee consists of 10 members that include, secretary, ministry of housing and urban poverty alleviation, joint secretary of housing, joint secretary of urban development, chairman of Council of Architecture, chairman, National Real Estate Development Council, chairman CREDAI, OP Mathur National Institute of Public Finance and Policy and director housing. 
    The committee will prepare a model bill to regulate the real estate, consult such other experts and organisation/departments as may be necessary and give 
a final shape to the model bill for regulating the real estate sector and suggest such other measures as may be deemed necessary by the committee, the government notification said. 
    It was widely expected that the regulator would begin addressing the grievances of both builders and buyers in 2008. “With real estate prices shooting to record highs and the quality of construction dropping sharply, we had been hoping that a regulator would step in to keep a check on the players,” a Mumbaibased property consultant said. 

Wednesday, April 15, 2009

Affordable housing today is the answer to the current real estate crisis

An Interview with Kumari Shelja, Union Minister of State for Housing and Urban Poverty Alleviation.
With the real estate sector stirred and shaken in the wake of current slowdown, housing ministry has been in the forefront to tackle the crisis. It was instrumental in getting two recent stimulus packages approved to boost housing demand and to give a momentum to realty.
Q. Affordable housing today is the answer to the current real estate crisis. Private developers, however, complain that margins are very low and that the government must offer incentives like cheaper land to promote affordable housing. On the contrary, urban development bodies of the state governments are defeating the purpose by auctioning land at exorbitant rates. What does your ministry propose to do in this regard?
K.S: We had pointed out to the state governments that auctioning does raise the prices to unrealistic levels but I must also point out to the real estate fraternity that they also have to share some responsibility for the escalation of land prices in the last few years. The way the land was bought at such high prices by people from the real estate sector also contributed to price escalation.
We had also told the state governments that more land needs to be released for affordable housing. But it is not just the matter of giving land; there are other policy issues and alternatives. For instance, we can consider a liberal FAR. Also, there are cross-subsidy models which are being worked out in different parts of the country. One can learn from each of these initiatives and state governments do have a significant role to play. We have already sounded them about this.
Think of this. The developers may be granted an increased FAR at one place and they can build affordable homes elsewhere. Or even at the same place they can get some commercial benefits, some special incentives or financial incentives. These are all different alternatives/models which are in place in different parts of the country that can be worked out. But clearly a major thrust needs to be given to affordable housing.
Q. But the problem is that real estate being a state subject, it will take quite some time before all these policy measures are implemented, whereas the demand for affordable housing is instant.
K.S: No, it is not that I spell out the ways here and now and the state governments follow them immediately. But things are happening all over the country. For example, some states have initiated major housing programmes involving the private sector. Also, new technologies are being brought in. But there are hosts of other related issues which the government, private sector and the beneficiaries must handle and solve together. This can be done. There are no dearth of success stories in this respect in the country.
Q. The government has announced fiscal incentives in the form of lower interest rates for home loans up to Rs. 5 lakhs and Rs. 20 lakhs. But the realtors are asking for further reduction in interest rates to generate demand. What’s the view of your ministry?
K.S: We took up the matter with the Finance Ministry, Planning Commission and even the Prime Minister, all at the highest level, following our interactions with the private developers. I think it is because of our efforts that the two stimulus packages were announced recently.But at the macro level, there are so many other things which the government has to take into account.
Q. Real estate experts, however, believe that reduction in home loan rates alone will not push up demand and there’s an urgent need to reduce property rates to restore the confidence of home buyers.
K.S: That is precisely what I have said .The government has done its bit but the private sector has to respond. The developers must try and settle for lower profit margins rather than holding on to the properties as this is not going to yield much result for them. They must cut down on profit margins to hike demand.
Q. One section of the realty sector suggests that the government should buy their housing stocks to bail them out. Comment.
K.S: I am sorry that’s not the way it is. You can’t expect the government to pick up the pieces after the mess created by the real estate people. Nevertheless, now that this difficult situation has come about, there is no point in simply talking about that a wrong has been committed. I think we should be optimistic and there is a way forward. And I am very happy to note that some of the developers have now started focusing on affordable housing and are coming out with various individual schemes for low-cost housing.
Q. The current crisis has once again turned the spotlight on the urgent need to regulate the sector. What is your take on it?
K.S: Such a demand has emanated from various stakeholders, including consumers and the industry itself. Taking this into consideration, our ministry has already decided to put a Model Real Estate Regulator Act in place. This is aimed at overseeing land acquisition and development process, checking unscrupulous elements and ensuring that property prices do not go beyond reasonable levels.
Such an Act would be prepared after consulting all the stakeholders. Anyway, the Housing Ministry will try to bring it about at the earliest for the states to follow.
Q. The Ministry of Urban Development has already been engaged in an exercise to bring about a Regulatory Act.
K.S: There is no contradiction here. What the Urban Development Ministry is proposing is meant for Delhi since it is empowered to operate only in the capital. But what we are doing is a Model Act for the whole country to follow. At the recent Housing Ministers’ conference in New Delhi, the states endorsed such a Regulatory Act. Hence, we’ll be able to bring that out soon so that states may have their own regulator as early as possible.
Q. There is increasing thinking that apart from developers and realtors, government agencies should also be brought under the ambit of a real estate regulator for smooth functioning of the sector.
K.S: You need not have any fears regarding that because we will definitely look at the role of both the government and the private developers. We will see to it that the Model Regulatory Act is not one-sided and all the stakeholders and beneficiaries, including government agencies, are covered under it.
Let me assure that after consultations with all the stakeholders, we’ll come up with a fairly balanced Regulatory Act.
Q. What according to you is the lesson for both the government and the developers from the real estate crisis? And how hopeful are you about the revival of this sector?
K.S: I am very optimistic because in any economy demand is the driving force. And in India, demand exists. The problem is with the supply which actually suffers from shortage. Taking a cue from the experience of the past few years, we should have focused on the supply side. In future, all of us should be working to ensure that there’s no mismatch between demand and supply
( via realtyplus )

Tuesday, April 14, 2009

Olympia Opaline Chennai, Tamilnadu

The Club Opal will be the largest and most modern club in South India. Premium leisure facility. Ideal for adults. Ideal for children. Ideal for the housewife. Ideal for parents. So that Opaline residents can think of spending an entire day relaxing, unwinding, enjoying. Without needing to commute.check below in project amenities for facilities at the club.



Parsvnath Prideasia , Chandigarh

Parsvnath Prideasia - A Township by Parsvnath Developers Ltd.Rajiv Gandhi Chandigarh Technology Park,Manimajra, Chandigarh (Chandigarh)
Parsvnath Prideasia boasts of its exclusive location next to the silicon hub of Chandigarh - Rajiv Gandhi Technology Park.
Description:
Parsvnath Developers Ltd. joins hands with Chandigarh Housing Board for another landmark of excellence in Chandigarh. Prideasia is located next to the silicon hub of Chandigarh - Rajiv Gandhi Technology Park. It also holds within its folds vital amenities like a shopping mall, a luxurious club with sports complex, service apartments, a school, a polyclinic, a bus terminal, a fire station and petrol pump. Everything you need for leading a complete lifestyle. Parsvnath Prideasia boasts of its exclusive location next to the silicon hub of Chandigarh - Rajiv Gandhi Technology Park. Anchored by IT icons like Infosys, Wipro, Tech Mahindra, Parsvnath Prideasia provides the opportunity for the top professionals of IT to make their domicile in the prestigious residential area. Inviting ambience and electronically manned gates invite you to the exclusive township - Parsvnath Prideasia. Step in and you shall experience the security rendered by the 3 tier security systems with complete pride. Standing tall on 123 acres of lush greens including 41.67 acres of residential complex, Parsvnath Prideasia is designed particularly for the connoisseurs of lifestyle. Inspired by the pharaohs of modern world, Parsvnath brings goodness of the pyramid built with contemporary material and building technology clearly reflecting the superior architecture. Parsvnath Prideasia is designed by M/s C. P. Kukreja & Associates who is recognised amongst the toparchitects around the world. Facilities galore:- Equipped with the correct numbers, the underground parking shall spare you of both the worry of safety or harshness for your car as the dedicated parking provide the time for your mean machine. With in-house car wash facilities, your four wheels shall present itself shining to enhance your pride.

Monday, April 13, 2009

HDIL Metropolis

Metropolis

Summary
Location:HDIL Metropolis, J.P. Road, Opp. Gurudwara, Four Bunglows, Andheri (W), Mumbai 400053. Tel.: +91 22 6788 0001 Email: metropolis@hdil.in
Highlights:
No legal charges
No share money charges
No society formation charges
No development charges
No electric meter and cable connection charges
Special features/Amenities:
2, 3 & 4 BHK luxurious apartments in a 27-storied building.
Vitrified flooring (Superior Quality Flooring)
Granite kitchen platform with stainless steel sink, full height ceramic tiles
Designer Bathrooms with superior quality / sanitary fittings, copper connected plumbing and full height ceramic tiles
Good quality electrical fittings, concealed copper wiring with adequate light & power points
Anodized aluminum sliding French windows, sound proof windows
Club house, Swimming pool, Massage Room, Multipurpose hall, Gymnasium, Closed Circuit Security with intercom connection from Adler, high speed elevator including stretcher lift
Elegantly designed air-conditioned lobby with waiting area
Backup generator for essential services
Landscaped garden common facilities.
3 level basement and 2 level above ground parking.
Adequate Parking available * Amenities are indicative and subject to change and elevation is for illustrative purpose only.