The industry in India estimates the size of organized retail to grow from the current $6 billion to $17 billion in the next 4-5 years. Indian retail industry is going through a period of rising sunshine! India is fast becoming the retail destination of the world and is ranked as the most attractive emerging market for investment, as well as the fifth largest retail destination globally. It is regaining strength with incomes of major retail players expected to grow consistently to more than 30% by the end of current fiscal according to an Assocham Financial Pulse Study.

“India has one of the largest numbers of retail outlets in the world. The sector is witnessing exponential growth with retail developments taking place not only in major cities and metros but even in tier-II and tier-III cities in India” elaborates Dr. Swati Piramal, President of Assocham.

The major factors fuelling the growth are:

-Increase in disposable income of people
-Improving lifestyles
-Increasing international exposure
-Growing aspirations among customers
-India has a large middle class that is considered to be major potential customer groups
-The Indian youth is perceived as trend setters and decision makers and also as large contributors to the retail phenomenon
-Tourist spending in India is increasing, which also contributes to the retail boom

A number of changes have taken place on the Indian retail front such as exponentially increased availability of international brands, increasing number of malls and hypermarkets as a result of easy availability of retail space. For the customer, the emphasis has shifted from reasonable pricing to convenience, efficiency and ambience. With the Indian government having opened up the doors for FDI, the entry of foreign retailers into the country has become easier.

Food and grocery are the two categories in the Indian retail sector which offer the most promising opportunities. Apart from this, the other areas where there are vast possibilities for Indian retailers are family entertainment, jewellery, apparel, electronics and consumer durables. Indian retailers are also trying to create a sustainable niche for themselves in areas such as books, gifts and music with strong branding and lifestyle connotations.

Golf View Corporate Towers

Real Estate Asset Management (REAM), one of the professional strengths of Alpha G:Corp and a contemporary  international practice that Alpha G:Corp pioneered in India in 2004, entails the process of overseeing property performance with the goal of enhancing value and consistently maximizing returns. Asset Management does not consist of a single activity that takes place at a discrete moment in time. It takes place over the lifecycle of a property (from acquisition to disposition).

This is done through an efficient balance of landlord/tenant relations, budgeting, operating expense analysis and control, real estate tax and insurance reviews, capital improvements, energy management programs, lease analysis and market awareness and expertise. Broadly, Asset Management is focused on a portfolio of properties rather than a single property.

This is analogous to the role of managing events in any industry. REAM is the operation of commercial, industrial and/or residential real estate and akin to the role of management in any business. It ensures that the day-to-day property management functions are efficient and that the property is producing a good rate of return given its current use. Special attention is also given to landlord/tenant laws and legal subjects. Therefore, it is a necessity to have a thorough working knowledge of applicable municipal and state laws.

We at Alpha G:Corp undertake projects through real estate asset management (REAM), joint venture development as well as acquisitions. REAM also offers the much-needed structured approach in handling real estate assets considering all the factors that accompany investing in real estate. A lot of factors are considered when managing real estate assets including the location of the property, the soundness of the existing structures and the cost of maintaining the structure and even the lot appreciation or the structure depreciation. Aside from these, ideal real estate asset management considers property taxes that owners pay. REAM, besides managing real estate assets, is also a source of relevant information regarding real estate properties and the constantly monitored potential of these properties to earn higher returns in the future in consonance with government policies in real estate.

Our work culture is best portrayed through our mission statement – “Expect the Finest”. We are one of the fastest growing professional companies in the Indian real estate industry with projects spread across the country including Ahmedabad, Amritsar, Delhi NCR, Fatehabad, Gurgaon, Goa, Karnal, Jaipur, Meerut and other cities in Gujarat, Punjab and Rajasthan. These developments encompass an area of more than 30 million square feet.

 

Alpha International City Karnal

The Indian real estate sector plays a significant role in the country's economy as this sector is second only to agriculture in terms of employment generation and also contributes heavily towards the Gross Domestic Product (GDP). The housing sector contributes almost 5% of the country's GDP. Affordable Housing in India has become the new Mantra for everyone related to the realty sector in the country. From buyers to sellers and realtors to investors, everyone is pitching for affordable quality homes in India.

The new age real estate developer has envisioned a dream – a dream of housing every family in the country. ‘Affordable housing’ is a term that possesses the potential to transform this dream, also harboured by millions of households, into reality. In fact, the main reason for increase in absorption of new launched products is the drop in per sq. ft. rate and the reduction in the size of units, which brought their prices within the affordable range of many more buyers. Most of these units were launched at a price almost 40% lower than the average pricing of apartments that were available in the first quarter of 2008. The average unit size of these apartments was also lower by almost 35%. The cost effectiveness or affordability factor contributes to the ever-increasing attraction of suburban areas.

Huge segments of untapped space, especially in tier-2 and 3 cities and towns with large scope and potential for expansion will ensure a steady trend. The trend of expanding Megapolises will be stronger in 2010 and give far more flexibility in designing townships, commercial complexes and city centres.

These encouraging trends are indicative that the markets are poised for recovery if proactive measures are adopted by the real estate community to offer the right product at the right price to the consumers. There is a need to develop innovative ways to reduce construction costs without compromising on the quality of construction apart from harnessing new methods in the use of newer, energy efficient, environment friendly materials and innovative construction technologies that minimize skilled inputs and deliver faster results at affordable prices. Paving the way for such trimming in construction cost is the use of ‘pre-fabricated materials’, or ‘systems technology’. The use of these practices can bring down construction time by as much as 50%, reduce costs by 10%-15% and also avoid employment of a large and skilled work force. At the same time, these practices help in delivering a quality end product.

The government should consider tax sops, including cuts in duties and levies for the real estate sector in a bid to promote affordable housing in the country besides actively encouraging the adoption of appropriate technologies and suitable building materials to enable construction of safe, durable, comfortable and sustainable dwellings and commercial areas.

The recent slowdown in the economy resulted in buyers constituting more 'end-users' segment than investors and speculators. Since the new class of buyers are more aware of legal documentation, approvals and due diligence, we have seen the advent of professionalism and accountability in the industry. As a result, the real estate sector in India has at last become more professional and customer-centric.

 
In the coming years, Indian real estate sector will witness a high growth path again. This is due to the following factors:
• Government initiatives and reforms for realty sector
• Growing Indian economy
• Growth of IT/ITES segments
• Facilitation of foreign direct investments in real estate sector
• Corrected market rate valuations
• Growing urbanization. Rapid expansion in Tier-I, Tier-II and Tier-III cities and the emergence of Megapolises and of integrated townships projects as a consequence
• Forthcoming SEZ projects and other industrial establishments
• Drop in home loan interest rates
• Increasing income levels of rapidly rising middle class + approximately 2 million graduates are produced every year in India, and that in turn creates a demand for  real estate, especially in the affordable housing segment
• Expansion of organized retail and growth of mall culture
• Emergence of 'Green Buildings' concept

In particular, projected growth of the IT sector @ 14% per annum and the growth of urbanization @ 2-2.5% per annum are the 2 key factors that will generate additional demand. This is apart from the existing shortage of 24.7 million houses and related infrastructure in the country. Better infrastructure, enhanced job opportunities and an accountable and responsible real estate industry would bring sustainable growth to the business.

 

Our work culture is best portrayed through our mission statement – “Expect the Finest”. As an important step towards achieving this goal, we initiated VABA, an association of our valued added business associates that is an embodiment of our company’s philosophy of maintaining integrity, professionalism and transparency in all transactions. A member of VABA is an integral part of the growing Alpha G: Corp family and is entitled to several advantages and benefits. Within the real estate sector, a number of transactions qualify as repeat business. Thus considering the use of customer satisfaction as a performance measure in an incentive plan, we are geared towards driving long-term success.

We believe that our business associates are ambassadors and spokespersons of our company’s values not only with buyers but also with the public at large. Along with the VABA program, we also orient our workforce to greater sensitivity towards addressing inequities in the basic needs of communities near our projects. Our continued growth depends on factors such as recognition and remuneration of talented co-workers and associates in a work culture that promotes teamwork and innovation.

Research points to a growing awareness within the real estate sector that the business is essentially people-driven and dependent on fair business practices and common goals. The academic and practitioner literatures emphasize the need for innovation to address the ever-challenging task of delivering projects beyond expectations consistently. Companies need people to turn new ideas into products as well as transform technology into usable, everyday tools. The complexity of customer needs, coupled with the speed that accompanies the emergence of new customer needs call for customized, transparent and prompt responses that are primarily people driven.

Brokers are identified as per special norms drawn up in this regard and some are subsequently selected for this program. They are trained as per our value systems and overall objectives and subsequently allotted the status of VABA. Kits to enhance their skills and perception are designed to optimally enhance the ‘win-win’ factor of this program. Crucially, VABA facilitates and enhances the process of building and strengthening the bridge between our delivery system and the aspirations of current and prospective buyers, inhabitants and investors.

For more information on the VABA program, you may write to us at info@alphagcorp.com or get in touch with us at :
Alpha G:Corp Development Private Limited
Wing A, Golf View Corporate Tower
Sector-42, Near DLF Golf Course
DLF - Phase-5
Gurgaon - 122002
Phone: +91-124-4831111
Fax: +91-124-4831100

 

The rising cost of residential accommodation has led to the popularity of Home Loans in India. Home loan is the finance borrowed from a bank or financial institution to buy or modify a residential real estate property. Any Resident or Non-resident individual who is planning to buy a house in India can apply for a Home loan. If you have decided to buy a property in the near future you can even apply for a loan before you select your property. It becomes easier if the property you are planning to buy is in a condominium or township that is pre-approved by a bank or financial institution.

The steep rises in the real estate prices in India are mainly due to the disparity in supply and demand of quality residential accommodation. The largest group of the Indian demography, the middle-class Indian population avails the major bulk of home loans in India. Home loans are facilitated by all public and private sector banks operating in India. Financial institutions specializing in home financing are also cashing in on the latest boom in home loans.

The recent downturn in the economy resulted in buyers constituting the 'end-users' segment rather than investors and speculators. Since the new class of buyers is a relatively younger set of customers, more aware of legal documentation, approvals and due diligence, we have seen the much-needed professionalism and accountability become more prevalent in the industry.

Today, the amount of money that a city dweller spends on rent is roughly the same, or only slightly less than the amount he pays as the EMI (Equated Monthly Installments) on a housing loan. Home loans are made available by financial institutions to both Indian and NRI applicants at floating or fixed rate of interest and also at attractive EMI options:
• For construction or buying a new home
• For purchase of plots for construction of house
• For home repairs and renovations or extension of an existing house or flat
• Against mortgage of property
• Purchase of home consumer durables and furnishings as included in the project cost

The buyers should try to take loan from established banks and financial institutions that screen the entire project before approving a loan for an apartment or plot in that project. In the course of approving a project, these institutions ensure that the developer has all the requisite approvals and sanctions. The government has recently announced interest rate subsidy of 1% for housing loans up to Rs. 10 lakhs and earmarked Rs. 1,000 crores for the scheme. The subsidy of 1% will be available for the first 12 EMIs on loans up to Rs. 10 lakhs for houses costing less than Rs. 20 lakhs.

For those planning to take a loan to buy a house, there is good news. The prevailing home loan rates from nationalized banks and housing finance companies are fairly reasonable:

• State Bank of India (SBI): 8% – 8.5% for Rs. 30-50 lakhs loan for 20 years (8% fixed for 1st year and 8.5% fixed for the next two years)
• Punjab National Bank (PNB): 8.5% for Rs. 30 lakhs and 9.25% for Rs. 30-50 lakhs loan for 20 years (fixed for three years)
• Life Insurance Corporation (LIC): 8.75% for Rs. 30-50 lakhs loan for 20 years (floating home loan rates)
• HDFC: 9% for Rs. 30-50 lakhs loan for 20 years (floating home loan rates)
• ICICI: 9.25% for Rs. 30-50 lakhs loan for 20 years (floating home loan rates)
• Dewan Housing Finance Corporation Limited (DHFL): 9.25% for Rs. 30-50 lakhs loan for 20 years (floating home loan rates)

Further, various banks and finance companies are coming up with schemes ahead of Diwali. Deals include low, adjustable introductory rates for initial years, with some lenders giving the option to shift to either fixed or floating rates in subsequent years. Lenders like Canara Bank, Bank of Maharashtra and Dena Bank are offering fixed-rate loans for the first 5 years, and subsequently, linking the loans to their prime lending rates. While others like Bank of India are offering fixed-rate loans for the first 2 years. India’s largest bank SBI is offering fixed rates for the first 3 years. Development Bank of Credit introduced a fixed rate of 7.95% for the first year, the lowest, at least, for the first year.

Moreover, in order to attract investors, Housing Finance Companies are offering incentives like:
• Free accident insurance & property insurance
• Waiving of pre-payment penalty & processing fee

My advice to all prospective home buyers: Be diligent, be bold and fulfill your dream as it is a buyers’ market at present. Just one word of caution; check the credentials and track record of the Developer you are buying from. 

“There is more to life than increasing its speed.” ~ Mohandas K. Gandhi Integrated townships are the next big thing in the Indian real estate sector since land prices have peaked in major metro cities and with basic infrastructure struggling to cope up with rising populations, developers are building cities away from the metros to provide contemporary lifestyles in Tier II and III cities and towns. Integrated townships are coming up in all segments, ranging from low-cost to high-end formats and in times to come, integrated townships could well be the answer to India’s urban habitat problems.

To counter the growing congestion in metros, the government is promoting many cities and towns that are close to the major metros. Towns in Haryana are foremost amongst them and are fast emerging as future satellite townships with most of the new developments taking place at strategic locations with easier access and proximity to New Delhi. Karnal, for example being located midway between New Delhi and Chandigarh on the Grand Trunk Road, enjoys the status of a Tier II city with the potential to also emerge as the State capital of Haryana.

Another big draw for our 3 townships in Haryana are the eco-friendly practices adopted by us in these townships namely, Alpha International City in Karnal, Fatehabad and Kurukshetra. These practices would optimise the performance of each township, while preserving and protecting important resources like water, land and energy. This is accomplished through an integrated approach to architecture, blending design issues, energy-efficient materials, construction techniques, effective building systems and taking advantage of renewable energy supplies. Eco-friendly practices are a must for every phase of the construction project, from the planning stages to completion.

The concept of living in integrated township seems to have caught on in a big way. The people in Tier II and III cities and towns aspire to have a world-class lifestyle with accompanying comforts. Our 3 integrated townships, Alpha International City (AIC), in Karnal, Fatehabad and Kurukshetra are world-class development projects, and among the first such developments by any real estate developer in the country in a Tier-II or III city or town. These 3 integrated townships are planned towards providing a metropolitan environment to buyers and are backed by infrastructure that goes well beyond the minimum requirements prescribed by local bylaws.  We have laid down infrastructure aimed at ensuring that the facilities are fully compliant with plans at the time of possession. Designed to integrate all the comforts, amenities and infrastructure prerequisites of an international urban lifestyle, these townships offer the ideal environment for modern homes with all the joys of living. Everything that the residents may require will be close at hand, sometimes within walking distance.

 The outstanding feature of each of the 3 Alpha International Cities is their respective locations. Each township is located amidst verdant surroundings with abundant tree cover and ground water, thereby providing the ideal environment for healthy and pollution-free living. Safety and security to the inhabitants along with provision of high quality, world-class education and healthcare facilities are top priorities in each Alpha International City, besides designated police and fire stations.
 
 The healthy and secure social infrastructure will provide a unique way of life to the inhabitants, including facilities that encourage sports, besides safe play areas for children. To top it, the ‘Alpha Life Club’ will be the hub of activity in each township besides facilitating and sustaining the spirit of bonhomie and mutual cooperation among residents.

 

The customer lies at the core of our business. We strive to evoke customer delight by exceeding customer expectations at every stage of the project. For obvious reasons, in the real estate market, the strongest marketing tool is to have satisfied customers and their word of mouth appreciation. Customers recognize values such as honesty, transparency, delivery and quality standards. That is why each of our customers is our brand ambassador. Our growth and development route has enabled us to deliver not just on our commitments and promises but to go that extra mile in delighting our customers while partnering with them.

We have a proven track record of ensuring high levels of customer satisfaction through a dedicated Customer Relationship Management Team. Alpha G:Corp believes in building relationships that are long term; for this we implement our business strategy in a way that the company partners with the customers through the lifetime of the projects and beyond by offering services like maintenance and facility management to manage and service all our developments after hand-over to the buyers or tenants.

The objective of CRM at Alpha G:Corp is:

•To reaffirm the company’s value system which takes pride in being an organization that is market driven and customer centric
•To ensure 100% customer satisfaction and delight
•To ensure that all customer communication has been responded in timely and proactive manner
•We use E-mode to update clients who live away from the area of their investment about the development or construction undertaken at the site of their investment.
•We assist NRI clients in procuring information related to bank transfers, Power of Attorneys and handover procedure for possession by their local representatives. For instance, in our eco-friendly premium residential project GurgaonOne in Gurgaon, 30% of the investors were either Non-Resident Indians or people residing out of Delhi NCR region. To ensure that the timely information was provided to them, regular e-mails and written communications were sent to update them about the development undertaken or in answer to their queries and concern areas.

The measures undertaken to keep the clients updated on activities undertaken at various project sites are:
•Quarterly newsletters to all clients. An e-newsletter is also uploaded on the website for clients’ easy reference.
•Regular development updates depicting the development undertaken at the site.
•Sending e-mail communications for faster reach of updates to clients.
•Dedicated CRM team at all sites to address any and every query of clients.
•Monthly development updates with visuals from all sites under development are uploaded on monthly basis on the website.
•Organizing periodical site visits in groups or individually to view the development work at sites.

We have now more informal channels of communication with our customers and constituents by way of this interactive blog. We hope that our clients and the public at large would benefit from this. Our endeavor is to be proactive to take the clients and stake holders with us on the journey of an ever-growing relationship which will yield us 100% satisfied customers. Alpha G:Corp is committed to achieve this through constant effort, perseverance and open and clear communication.

AlphaOne Amritsar Brand Partner's Meet

Afternoon of August 01, 2009 Occasion: We successfully concluded our first Brand Partners’ Meet, along with our Anchors and Vanilla Brand Retailers Ambience: Cerebral, Celebratory and Enthusiastic  Venue: AlphaOne, Amritsar Attendee Profile: Corporates, Retail Industry and Amritsar, Delhi and Chandigarh Media

 Event Profile

• We invited our Anchor and Vanilla Brand Partners/Associates to strategize and brainstorm with an open exchange of ideas, dialogue and feedback to collectively drive optimum footfalls into AlphaOne Amritsar, which is already 73% leased out. The mixed use development, AlphaOne is slated to open on October 01, 2009.

• The key people interacting at our first Brand Partners’ Meet were Mr. S K Sayal, Director & CEO, Alpha G:Corp; Mr. B S Nagesh, Managing Director, Shoppers Stop, Mr. Prodipta Sen, VP, Marketing & Corporate Affairs, Alpha G:Corp; Mr. Mukul Kumar, Chief Technical Officer; Mr. Ashish Sarin, Chief Financial Officer; Mr. Jaideep Wahi, Retail Director, Cushman & Wakefield; Mr. Pradeep Kumbhert, VP, Reliance Retail; Mr. Deepak Taluja, VP, Fun Republic; Mr. Umesh Kapoor, Head, Business Development, Nirulas;  Mr. Manish Gaur, Head, Business Development, Shoppers Stop; Mr. Samanth Jerath of Jerath Associates; Mr. Naresh Gupta of Publicis Communications and the attending Amritsar, Delhi and Chandigarh Media, among a guest profile of 350, which also consisted of the very best of current and prospective vanilla brand retailers across the spectrum. The presentation by guest speakers was followed by a brief Q&A session. The guests were provided with feedback forms to assess their genuine feedback and suggestions to optimize the footfalls in the mall.

• Mr. S K Sayal stated at the meet, “In order to make it a win-win experience for every shopper and retailer, we set up innovative systems and procedures based upon sustained research from the time this mega project was finalized. This spirit and its results are evident at this 1st Brand Partners’ Meet. We look forward to great success in this venture for each person present here.”

• Mr. B S Nagesh responded articulately during his address as a guest speaker, “AlphaOne, Amritsar is the first mall I have seen in my entire experience that is fully ready for operation almost 2 months before the grand launch. In my long relationship with Mr. Sayal and Mr. Sen, I have frequently admired Alpha G:Corp’s professional and result-oriented manner of doing business.”

• The interactive discussion continued during high tea later after which our top company officials accompanied retailers and guests for a detailed visit of the mixed use development.

• We are also the first developer in India to attempt this manner of interactive collaboration with our retailers and brand partners. AlphaOne, Amritsar has the best International, National and Regional mix of brands and many among them attended the 1st Brand Partners’ Meet on August 01st, 2009. AlphaOne, Amritsar. This soon to be launched mega retail and entertainment City Centre project of 2 million sq. ft., under the signature brand name, ‘AlphaOne’ – Ithhe aao happy ho jao …Be here be happy! will establish a rational and sustainable business model where optimum customer delight will be the unconditional priority in all operations and promotions.

• As North India’s largest mixed use development comprising of high quality retail and entertainment, AlphaOne would make a discernible impact on the socio-economic fabric of Amritsar and surrounding areas. Mr. Prodipta Sen, thanked the media and retailers present, “We appreciate and value your pivotal role in increasing public awareness about fresh ideas, innovations and methods and hope that as facilitators that enhance the process of public perceptions you would after your visit recognize the value we propose to add by providing our shoppers with constant happy experiences while helping to raise the bar for sustainable Destination Point models in India.”

• Last week, Mr. Sen was awarded the prestigious ‘Pride of Industry Award’ in New Delhi for his team building efforts and ever seeking ways to benefit retailers and the customers’ experience in the hitherto disorganized sector of retail in India.

• As a result of AlphaOne’s architecture, planning, facilities, location and most of all the retail and entertainment mix, this landmark development received the honor of ‘Highly Commended Certification’ and ‘Seal of Distinction’ in the category of Mixed-Use Development at the 2009 edition of the Cityscape Asia Real Estate Awards held in Singapore in May 2009. In connection with the same, Alpha G:Corp was also honored with “The Emerging Developer of the Year Award” at the inaugural Realty Plus Excellence Awards 2009 held in New Delhi.

• The Anchor brands are Shoppers Stop, HyperCITY and Fun Republic. The Vanilla Stores at AlphaOne: Tommy Hilfiger, Levi’s, Lee, United Colors of Benetton, Allen Solly, Provogue, Wrangler, Adidas, Nike, Reebok, Puma, Arrow, Lee Cooper, Planet Fashion, Spykar Jeans, Biba, Peter England, Mufti, Reid & Taylor, Kapsons, Café Coffee Day, Store – 99, F2O, No Code, 109'F, Shoe Box, Magnet Shoes, Metro Shoes, Titan, Timex, Provogue, V.I.P, Good Things, Lotus Bawa, Belmonte, Prime Watches, Hues, Catmoss, Joy and Peace, Spykar, Spykar Kids,  KingKow, Lakshita, M & B Footwear, Lilliput, Home & Apparel, Pepe, Flying Machine, Hidesign, Just Lucky, et al.

• The venue dressing for our first Brand Partners’ Meet was aesthetically individualistic of AlphaOne’s tagline: AlphaOne’ – Ithhe aao happy ho jao …Be here be happy! A promise that will bring in even more to cheer about in Amritsar.

 

AlphaG:Corp's GurgaonOne

According to estimates of the Central Ground Water Authority (CGWA), Gurgaon's water table has been declining at a rate of about two metres every year since 2006! At this rate, the city may dry up its water sources by 2017 if urgent remedial steps are not undertaken by the authorities and all stakeholders alike. According to Surge, a non-profit organization, the water table in Gurgaon is already 40 metres below ground level. In a different part of Gurgaon, GurgaonOne our 10-acre eco-friendly habitat consisting of 240 apartments, penthouses and villas and spread over mandatory green land on the old Delhi-Jaipur highway ranks at the top among large residential complexes conforming to the National Environment Policy, 2006.

This project meets the nascent but growing need in India of premium living in eco-balanced habitats. The outstanding feature of GurgaonOne is its location on the biggest green patch of Gurgaon off the national highway and on the periphery of the mandatory 1000 acre green area there. Due to the green area adjoining it and its location in the municipal area, the greenery and water table level of GurgaonOne is considerably higher (less than 30 metres).

Even so, our commitment to environmentally proficient projects led among other steps to the incorporation of extensive and sustainable water harvesting systems in the complex with a 300 KLD sewage treatment plant -- the first treatment plant of this size in Delhi NCR. The water treated in this plant is used for irrigation of the 2.03 acre open green area in the complex, as also for storage and recharging of groundwater after rain harvesting. The six wells function in reverse mode of bore-wells, allowing rainwater to seep back into the ground, thereby constantly bringing the water table up. The complex has 100% water backup, along with purification from the 1,80,000 litres water softening plant. Besides, the underground tank capacity is of 6,00,000 litres, within which 2,00,000 litres is treated water in sub-tanks; 2,00,000 litres of raw water and 2,00,000 litres for the fire fighting system alone.

The eco-systems at GurgaonOne were incorporated in the initial design specs of the complex by the architects, Arcop (Associate of Le Arcop) and due evaluations were made by them at every stage of construction to ensure 100% sustainability and efficiency of all systems. Pre-planning and implementation of extensive development of Green Belt, Rainwater Harvesting, Energy Conservation Systems, Segregation & Management of Waste -- Solid and Liquid, Vermiculture and Advanced Sewage Treatment Plant make GurgaonOne a well-defined and path-breaking benchmark among eco-friendly habitats for sustainable environmental practices.

Our endeavor is to involve the whole community to foster the feeling of living in a natural and eco-friendly habitat. To facilitate that, I volunteered to head the RWA of GurgaonOne and am really pleased that our team effort has helped us to achieve our objective in less than 2 years. The results are evident on the ground as well as in the community spirit among the residents of this habitat. All this, combined with the high water table at the location and our sustainable systems at GurgaonOne, make this complex one of the most coveted addresses for buyers in Gurgaon.

 

Given the industry scenario, there were naturally several expectations from the Budget. The provisions expected for the real estate and infrastructure sectors have remained on the wish-list rather than becoming reality in a diminishing market.

The Budget is not the only avenue for the FM to introduce the measures required to prop up demand in the housing sector. In that sense, we remain optimistic. But the expected measures came short even in the large and crucial affordable housing segment.

Key measures announced in the Budget:

• Focus on rural housing and housing for urban poor – measures include increased allocation for Jawaharlal Nehru National Urban Renewal Mission to Rs. 128.9   billion, enhanced allocation for housing and provision for basic amenities to the urban poor to Rs. 39.7 billion (includes Rajiv Awaas Yojana, a new scheme aimed to make the country slum-free in the five year period), allocation under Indira Awaas Yojana increased by 63% to Rs. 88 billion and further allocation of Rs. 20 billion for rural housing fund. If these are not merely populist announcements but a sustained and synchronized effort is made towards this urgent end, this government will establish itself as one that believes in and practices inclusive growth. Meanwhile, they should be more realistic in the definition of affordable housing and housing for poor where parameters of plot size, floor area and cost of construction are concerned. Tax savings and incentives for developers that are equipped to service this enormous segment should also be taken seriously as only collaborative effort will see this ambitious plan bear fruit.
• A key negative for developers is the increase in minimum alternate tax (MAT) to 15% from 10%. The increase in MAT affects developers with low taxes because of tax breaks for executing government projects.
• Tax exemptions for STPIs extended by a year, which can maintain occupancy levels for IT parks. But this could potentially also cannibalize demand for new SEZ developments in the near term.

On Thursday, the Centre asked States to come on board to formulate new schemes for housing the urban poor on an urgent basis. We hope this is done in a feasible manner. All in all, we will continue to keep our faith and hope that the urgent measures required will be recognized and addressed promptly by this government following the Budget announcements.