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.

AlphaG:Corp's GurgaonOne

We at Alpha G:Corp undertake projects through real estate asset management (REAM), joint venture development as well as acquisitions. Channeling the services through these specific models streamlines the processes and systems and enables our company to achieve its timelines and commitments with professionalism and transparency in all transactions. To ensure high levels of transparency, the commencement of each project is preceded by a designated account opening. All the sales proceeds are channeled into this account. This account is then used to pay for development work and the landowner’s share in the entire deal.

Our endeavour is to consistently introduce to India, real estate development practices and professional systems comparable with the best in the world. We have seen the potential in generating flexible and dynamic business models to meet the varying needs of associates.

Looking at India as a consistently growing economy in 2006, Morgan Stanley was keen to invest in a professionally managed real estate asset management company adhering to global standards and professional best practices. After due diligence of prospective partners, they focused on Alpha G:Corp due to our long-standing reputation, professional management team as well as for our global asset management model of development in real estate, which was a first by any real estate company in India.

Business Models

1. REAL ESTATE ASSET MANAGEMENT
Real estate asset management (REAM) offers a structured approach in handling real estate assets considering all the factors that accompany investment in real estate. REAM may be described as the systematic process of maintaining and upgrading real estate assets in a cost-effective manner that would work well for property owners. 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, property appreciation or the structure depreciation. For example, GurgaonOne which is the top among largest residential complexes conforming to the National Environment Policy, 2006, Golf View Corporate Tower B, which houses the corporate office in India of Ernst & Young and Alpha International City in Kurukshetra fall under our real estate asset management models. Our asset management model of development and management of property like all our business models is based on top-of-the-line business models as practiced globally and have mandatory feasibility study at the design stage, followed by land procurement, paperwork for all government permissions and licenses, concept development, marketing, sales, construction and handing over process with ongoing post-sales or post-lease services. In this model, the landowner finances the project while we bring in our expertise in asset management; involving the initial market intelligence study to conceptualization and development of projects, marketing to post sales and property maintenance. We, on our part, extend our relevant brand identities to the project for a certain percentage of the total sales value.

2. JOINT VENTURE DEVELOPMENT
Landowners provide equity in the form of land while we develop the land, market and sell the project with our own resources and expertise. A revenue-sharing model thus comes into existence benefiting the joint venture by making it lucrative for both partners. We represent an opportunity to partners to ally with a best-in-class and deeply experienced management team with a unique and highly scalable project development and servicing model that ensures our developments continue to remain important landmarks in their respective cities for years to come.

3. DEVELOPMENT THROUGH ACQUISITIONS
In this model, we are involved in the entire value chain. We promote and develop the entire project from research, acquiring of land, construction, development and marketing followed by subsequent sales or lease agreements. We actively encourage our customers and constituents to expect the finest in every aspect of the complex business of real estate development. Whether it is the acquisition of land, the appointment of an architect, the choice of material or the execution of a marketing plan, all processes follow the collective sensibility garnered over decades of experience by our team and are incorporated in all our business models.

4. ALPHA G:CORP MANAGEMENT SERVICES
We at Alpha G:Corp, have a proven track record of going the extra mile to ensure a higher level of customer service by going beyond the project even after it is sold or leased by offering follow-through services like maintenance and facility management. To that end, Alpha G:Corp has a 100% subsidiary – Alpha G:Corp Management Services, to manage and service all our developments after hand-over to the buyers and tenants. Driven by the mission statement of 'Building Values -- Value Buildings', our proactive team at Alpha G:Corp Management Services assume complete responsibility of maintenance management in line with the best international norms.

Our team has developed and managed several prominent and prestigious commercial and residential properties that are widely acknowledged in the industry as landmark creations. We have also serviced prominent clients like Ericsson, British Aerospace, Motorola, Microsoft, British Telecom, Cisco, Intel and CSG Systems when they began their operations in India. Our company’s long term philosophy is to deliver a product that stands the test of time – and to build relationships that endure.

Alpha G:Corp’s blog, Alpha Connect is a timely innovation by a forward looking developer to connect transparently and in an interactive manner with wider audiences when the industry across the globe has suffered. Alpha Connect has news, information and one-to-one advice for visitors and bloggers by way of insightful posts and advice authored by the Alpha team who has a well documented, collective experience and unique work culture in the industry that is often recognized and appreciated.

Alpha G:Corp’s endeavor is in sync with their aim to consistently introduce to India real estate development practices comparable with the best in the world in terms of professionalism and corporate culture. Alpha Connect is an ideal platform for the company to share their experiences, values and perspectives on everything that touches the Indian real estate industry, while also offering concrete and valuable advice and intelligence to netizens on the best practices to follow in their individual real estate transactions. Visitors can read and rate the posts, participate in discussions, leave comments, share their ideas and concerns, and also seek timely one-to-one advice to safeguard and transact their individual deals.

Mr. SK Sayal, Director & CEO, Alpha G:Corp Development Private Limited stated, “For those in our industry who believe that real estate will again become a sellers’ market, it is time to wake up and do a reality check.  The need of the hour is a fresh outlook on corporate communication and accountability by developers. Our collective culture at Alpha G:Corp has always been oriented towards giving impetus to this outlook of win-win relationships between the company and customers. The effectiveness of Alpha Connect is that it makes the engagement process with our customers and audiences that much more interactive, dynamic and mutually rewarding.”

Alpha G:Corp is one of the fastest growing professional companies in the Indian real estate industry with 100% FDI compliant projects spread across the country namely, Ahmedabad, Amritsar, Delhi NCR, Fatehabad, Gurgaon, Goa, Kurukshetra, Karnal, Jaipur and Meerut. These developments encompass an area of more than 30 million square feet and have a financial outlay of Rs. 4000 crores. The company undertakes projects through acquisitions, joint ventures as well as real estate asset management (REAM). Channeling services through these specific models streamlines the processes and systems and enables the company to achieve its timelines and commitments with professionalism and transparency in all transactions. Case in point: To ensure high levels of transparency and expediency, each project of Alpha G:Corp has a separate designated bank account meant for all expenses and profits of that project alone. 

It is this work culture and ethic that Alpha G:Corp aims to share with all visitors on the blog, while also setting benchmarks for others to imbibe. The blog designed and managed by iStrat is dynamically designed and aligned to achieve each of Alpha’s objectives of having open and clear channels of communication with their target audiences as well as the public at large. iStrat is based in New Delhi with international marketing offices in Australia and the USA and has been a business leader in new media and digital marketing for over a decade. They have also managed Alpha G:Corp’s web presence since the company’s inception.

“When iStrat put the proposal of a corporate blog to us, we saw the value of this media in achieving our business and social objective of being providing the best solutions in all areas of real estate in a responsible and responsive manner. With real estate development being the focal point of all our thoughts, concepts and achievements, this was most appropriate. It is no secret that the real estate business in India still lacks transparency. But Alpha G:Corp on its part has consistently worked in a transparent manner to connect in a wholesome manner with customers, while also in the process increasing the trust level in the industry itself. Alpha Connect is another definite step in fostering clear and mutually profitable communication with those seeking intelligence about our developments, values, objectives and real estate matters in general,” elaborated Mr. Prodipta Sen, VP, Marketing & Corporate Affairs, Alpha G:Corp.

Accolades: At the inaugural Realty Plus Excellence Awards 2009 in New Delhi, Alpha G:Corp was awarded the ‘Emerging Developer of the Year’. Similarly, their City Centre Development, AlphaOne in Amritsar was awarded ‘Highly Commended with Seal of Distinction’ in the Best Mixed Use Development at the Cityscape Asia Real Estate Awards 2009 held at Singapore. In 2008, Alpha G:Corp’s Golf View Corporate Towers, Ernst & Young’s Corporate Office, was certified ‘Highly Commended’ in the Best Developer – Commercial/Office (Built) Category at the Cityscape Asia Real Estate Awards 2008 held at Singapore, and GurgaonOne, their first premium eco-friendly 10-acre residential habitat, was Semi-finalist in the Sustainable Projects Category at the Asia Pacific Real Estate Awards, 2008 in Shanghai.

“Alpha G:Corp has a proven track record of going the extra mile to ensure a higher level of customer service. They are also the first real estate major in India to have a corporate blog. With a modern and forward looking outlook and so many satisfied customers it makes sense for them to share the collective intelligence of their team and engage with their audiences through this highly interactive medium. In a short span of 3 weeks Alpha Connect has already received 1300 visitors,” shared Ms. Sonya Sahni, Co-founder and Marketing Head of iStrat. The informative posts on the blog currently are on Affordable Housing, Human Resources, Retail, Industry Developments, 2009 Elections, Customer Relations, Sustainable Real Estate Business Models, Changing Lifestyles, Upcoming Megapolises, Awards & Felicitations, Facility Management, among others.

Alpha G:Corp actively encourages its customers and constituents to expect the finest in every aspect of the complex business of real estate development, be it the appointment of architect, choice of material or the execution. All processes follow the company’s collective sensibility and commitment to excellence.

Mr. S.K. Sayal, Director & CEO, Alpha G: Corp Development Private Limited

Mr. S. K. Sayal has been instrumental in gaining an excellent reputation for Alpha G: Corp as a forward-looking, professionally managed company and is one of the chief reasons behind our projects becoming fully sold way ahead of schedule. He has in the past 25 years established a proven track record for excellence, pioneering global practices and reliability in the real estate business. He has been involved in every sphere of the real estate business including feasibility, analysis and acquisition of properties, project concept development, liaison and approvals, construction, interior fitment, project management and contracting. His expertise lies in handling legal aspects related to construction and real estate, along with legal documentation of property acquisition, joint ventures and collaboration agreements among others. His foresight, professionalism and vision have contributed immensely towards establishing benchmarks in the real estate industry and have been well documented for transforming the perception of real estate in India.

About the interview

A leading Indian real estate portal spoke with Mr. S K Sayal, Director and CEO, Alpha G: Corp to get his views on whether the real estate market has corrected or if it would weaken further in the months ahead. Now that the drum beat is over, does he feel real estate developers need to change the way they do business?  In his view, has the government been supportive of the real estate sector? What more can be done?  What does he feel about the impact of PE funds and institutional money driving real estate prices in India? In the long term, does he think these funds are good for the real estate markets in India? And more…

Post-Election Projection of Economy and Real Estate The mandate of the people of India during this election was clearly for continuity, stability and growth. Industries that foster employment, development and public infrastructure should be at the core of the government’s positive agenda. There being hardly any impediments in the way of the government’s measures towards their liberalization and growth thrusts this time around, the industry expects benchmark steps in this regard more so with the kind of effective team both of the young and old that Dr.Manmohan Singh has selected. Infrastructure is expected to drive growth not to mention the impetus it will give to Commerce and Power.

Signs of revival in Real Estate Sector

Industry sentiment is that the new UPA government will take special measures to bring down the interest rates further to enable the public at large to buy houses. The mantra for developers like us in the present times is to be aware of the markets (realistic demand and supply) and of course what the competition is offering.

To begin with, we are expecting to get clarity from this government on foreign direct investment (FDI) in retail. The real estate industry requires liberalization in the retail sector for the much needed fillip, especially now when the sector is reeling under a slowdown. With the opponents of FDI in organised retail biting the political dust in 2009, retail players are hoping to expand, especially by way of foreign investments. In 2006, the UPA had encouraged organised retail by opening up FDI in single brand outlets by up to 51%. Unfortunately, the same was not permitted for multi-brand outlets because of the constraints of differing coalition partners at the time. Given that there are many big brands looking at India, government policies will hopefully begin to reflect the greater value, convenience and employment opportunities that retail growth represents for Indian consumers and the real estate industry.

The real estate sector experienced a severe slowdown in demand because of rise in interest rates in January-March 2008 by almost 2 percentage points to 12%. At the same time, the prevailing prices of residential apartments in most cities made them unaffordable. The situation further worsened after global financial markets got affected due to the failure of banks and brokering houses in the US and Europe. This also affected the Indian real estate market as demand plummeted.

After the heavy slowdown during the third and fourth quarters of 2008, the real estate sector has shown some recovery in the first quarter of 2009 ending March 31, albeit in the affordable category. The main reason for increase in absorption of the new launched products is drop in per sq. ft. rate as well as reduction in the size of the units, which in turn brought their prices within the affordable range of buyers. Most of these units were launched at a price that was almost 60% 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 50%. This encouraging trend is indicative that the markets are poised for a recovery if proactive measures are adopted by the real estate community to offer the right product at the right price to consumers.

For a buyer or investor to understand the market more clearly before making a decision he/she must understand at which juncture the market is hovering; and to also take into account new government policies and their expected impact in the coming months.

Alpha International City Kurukshetra

Is Affordable housing still a dream or a reality? Affordable housing can be a reality if the government and developers are sincere in their intent to meet the huge unmet demand for affordable housing. The margins in this category are not as lucrative as the premium segment, which in any case has witnessed an oversupply. With the slow down and recession, the prices in the premium segment fell to almost 50% in one year. This resulted in a vacuum and informed investors acknowledge that the buzzword today is ‘Affordable Housing’ -- a vision of housing every family in the country.

Added to this most sustainable trend, the resurrection of investors seems imminent which we as developers will precipitate along with financial institutions and banks that are now actively encouraging low interest rates on affordable housing.

The question is how to best realize the potential?
Part of the infrastructure in the NCR is being built to decongest the city road network by way of expressways, which should be further encouraged by enabling and facilitating large and mass habitats along these expressways where cheap land could be made available by the Public Enterprise. Within that initiative, Private Developers could be encouraged through Private Public Partnership (PPT) to build affordable housing where the general populace could live and use rapid transport systems to travel to work.Mass scale housing for the general population is the need of the hour for initiating and sustaining inclusive growth. This will also help clean the environment of cities that are bursting at their seams. As a consequence of such increased infrastructure and development there will be an automatic expansion of Megapolises that will envelop several tier 2 and 3 towns in their growth. Further, the cost effectiveness or affordability factor will contribute to the increased attraction of these suburban areas.

The thrust to build such mass habitats will also call for innovative methods of construction by using newer energy efficient environment friendly material with technologies that are not only affordable but also qualitatively durable. Besides, these modern innovations are efficient in terms of deliveries and simple to complete through the use of pre-fabricated ready-to-use material.

Many of the developers in the surrounding outskirts of metros have announced affordable housing in the range of Rs.5 Lacs to about Rs.15 Lacs for 1 to 2 BHK units. Some even have provided 3 BHK units at prices of Rs.18 to 20 Lacs. In addition to the initiatives by the developers, the government should also consider tax sops including cuts in duties and levies on every completed affordable housing project that meets with the requirement in terms of accountable deliverables.

Of course the slowdown will probably continue for some time to come but with the second successive fiscal stimulus by the government coupled with the buoyancy to build affordable housing, will help to realise the dreams of many a common man of finally owning a house.

As a company that has gladly taken the responsibility of setting new benchmarks in work culture, transparency and most importantly, delivering world-class developments across the country, we at Alpha G:Corp actively encourage our customers and constituents to ‘Expect the finest’ of us in every aspect of real estate development. The core team at Alpha G:Corp has a proven track record for excellence spanning more than 30 years, a fact that is regularly appreciated and documented. Reliability and transparency have been our strongest brand attributes in this long and rewarding journey.

With real estate development being the focal point of all our thoughts, concepts and achievement, we have a far reaching vision: Aspiring to be internationally acclaimed as a socially responsible company providing complete solutions in all areas of Real Estate Development.

Therefore, whether it is the acquisition of land, appointment of the architecture firm, the choice of materials or the execution of a marketing plan -- all processes follow the collective sensibility of the will to excel and the ability to inspire confidence amongst the entire team of the company. We derive our collective intelligence from the experience and expertise of our core team. Since we formed Alpha G:Corp in 2003, the team has firmly established Alpha G:Corp among the fastest growing professionally managed companies in the Indian real estate industry with projects spread across the country.

The Alpha team has over the years built landmark buildings like The Great Eastern Plaza and The Great Eastern Centre in New Delhi; The Motorola Centre for Excellence, the high-ranking eco-friendly residential complex, GurgaonOne, state-of-the-art commercial building, Golf View Corporate Towers and also Central Park-1 in Gurgaon.

Our long term philosophy is to deliver products that stand the test of time – and to build relationships that endure. To ensure that we deliver the finest, every blueprint is subjected to a vigorous line of questioning:
• Is it contemporary, world-class, practical and pleasing to the eye?
• Is space being used as it should and is it in sync with the environment?
• Does it pass the test of legal due diligence?
• Is it a fusion of form & function and is each aspect in place?
• Would every brick, girder and slab measure up to exceptional customer value while reflecting global best practices?

Furthermore, we like going the extra mile to ensure a higher level of customer service. We go beyond the project even after it is ‘sold’ because for us, the human element of our interactions with customers remains alive. Our 100% subsidiary – Alpha G:Corp Management Services Private Limited, manages and services all developments after hand-over to the buyers or tenants, who I am proud to say have been overjoyed by our efforts.

We continue to invest in building competitive advantages. The team is focusing on building critical management processes that will enable us to surpass our own high standards while delivering world-class projects and services with optimum scalability. It is a matter of gratification for us to have consistently received several prestigious awards, recognizing our excellent work, at both national and international forums.

Today, as I sit and pen my thoughts for ‘Alpha Connect’, I feel a sense of quiet determination that all the good work that has resulted in the accolades and success for us must be sustained and enhanced in a new rapidly transforming scenario where value addition will be at the root of success stories in our business – a fact that I warmly welcome by asking you to continue to “Expect the finest” of us.