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The address (Cover story Antigua & Barbuda)

We are overwhelmed by the warm feedback that The Address continues to receive from you since the past 3 editions. It goes a long way in reinforcing our belief and stimulating our editorial team to curate the best articles for your reading pleasure.
This month we bring you a unique realty investment based immigration program with a host of benefits to investors in the breath taking Caribbean islands of Antigua & Barbuda in our cover story.
You will also find in depth case studies on the City of Lakes - Thane and the Commercial Realty market with a special focus on Connaught Place in New Delhi.
Some useful tips on clearing clutter in homes and the use of Smart Technology to live more efficient lives are also a part of this edition.
We also throw some light on The Housing For All by 2022 program of the Govt. of India and its ramifications. There are also a couple of crisp articles on the rising trend of Holiday Homes in India and Pre-launch properties.
Hopefully you shall enjoy this edition of The Address as much as we enjoyed bringing it to you.
Looking forward to your bouquets and brickbats!

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The address (Cover story Antigua & Barbuda)

  1. 1. Editor’s Note DearReaders, We are overwhelmed by the warm feedback that The Address continues to receive from you since the past 3 editions. It goes a long way in reinforcing our belief and stimulating our editorial team to curate the best articles for your readingpleasure. This month we bring you a unique realty investment based immigration program with a host of benefits to investors in the breath taking Caribbean islands of Antigua&Barbudainourcoverstory. You will also find in depth case studies on the City of Lakes - Thane and the CommercialRealtymarketwithaspecialfocusonConnaughtPlaceinNewDelhi. Some useful tips on clearing clutter in homes and the use of Smart Technology to livemoreefficientlivesarealsoapartofthisedition. We also throw some light on The Housing For All by 2022 program of the Govt. of India and its ramifications. There are also a couple of crisp articles on the rising trendofHolidayHomesinIndiaandPre-launchproperties. HopefullyyoushallenjoythiseditionofTheAddress asmuchasweenjoyedbringingittoyou. Lookingforwardtoyourbouquetsandbrickbats!
  2. 2. In This Issue Designed and published by Team Square Yards: Content: Somesh Rastogi, Paritosh Kashyap, Amita Singh. Design: Hardik Patel, Indrajeet Parihar. Free Publication. All the contents of The Address are only for general information and/or use. Such content do not constitute advice and should not be relied upon in making (or refraining from making) any decision. Any specific advice or replies to queries in any part of the magazine is/are the personal opinion of such expert/consultants/persons and not subscribed to by The Address. The information in The Address is provided on an AS IS basis, and all warranties, expressed or implied of any kind, regarding any matter pertaining to any information, advice or replies are disclaimed and excluded. To order reprint contact: Square Yards Prime Office Markets in the World Smart Home Technology Investing in Pre-Launch Properties in India 25 39 53 7 ways to Prevent Clutter in Your Apartment 49 What’s Hot 29 45Case Study Cover Story 07 Property platter 33 03 Holiday Homes Special Feature 35 17 In conversation
  3. 3. Holiday Homes: New trend catching up in India Holiday Homes: New trend catching up in India Taking a cue from the West, the Second-home market is heating up in India. As this real estate trend rises, so do the investment plans of each buyer. Call it a vacation home, personal retreat, or a home away from home — the second- home market is becoming a rallying point for developers and investors. 03
  4. 4. Demand for such homes is completely dependent on the availability of disposable income, as a second home is not a necessity, rather a lifestyle choice in most cases. The primary target audience, almost 75% in such cases, is the high net income group, which has surplus funds to invest, and the remaining comprise the upper-middle class. For the religious-minded, second homes means having a foothold in Haridwar, Rishikesh, Mathura, etc. Whatever be the trigger, a common aspect is that second homes provide you the space to indulge yourself in activities you love - be it to connect with nature or God, or to enjoy the sheer opulence of high end lifestyle amenities! It is a temporary refuge that gives a break from the fast-paced urban life. But before buying a second home for yourself, you need to have awareness on the details of a holiday home rather than spending all your hard earned money on an unworthy piece of land. Following are a few tips on how to go about buying your Holiday Home. 04
  5. 5. Location: This is one of the vital parts of owning a holiday home. Location matters a lot when you plan to stay and invite your guests over to your holiday home. Make sure that your holiday home is located in a place suited to you and is a popular destination. Also the location can fetch you a good return down the years in case you plan to sell it. Budget: Once you have finalized the location and the type of property, you need to plan a clear cut outlay for your investment. Make a list of all the properties according to your budget and the loan amount required if any. Make sure that the property which you buy is affordable. Also calculate the acquisition cost, transfer fee, conveyance fee, interest rates and other associated expenses. Apart from just owning a holiday home, you can also rent your holiday home and make money out of it. Size of the property: Decide on the size of the land you would like to own. Whether you’re planning to build your holiday home or buy a ready-made one, you need to consider the size of the land. Also consider the weather, soil and other topographic parameters. Maintenance: Once you have bought a holiday home, the most important part is the maintenance cost of the holiday home. It is very important that you consider the maintenance costs of your holiday home while investing in it. Appointing regular home inspection specialists for maintenance is advised. Rental cycles: Lastly, it is important that you are aware of the holiday home rental cycles. The rental cycles fluctuate depending on the location and the seasonal changes. Likewise a holiday home with a beach or a hilltop area will have different prices. The second-home market is, to a great extent, immune from recession, and operates on slightly different considerations and dynamics. The reasons for buying a second home are mostly for investment purposes or for adding a sheen to one’s status. 05
  6. 6. 06
  7. 7. COVER STORY: Antigua and Barbuda 07
  8. 8. A variety of activities await adventure seekers. Swim with the sting-rays, zip through the rainforests, kayak, sail, dive or golf. Visit down-town St. John’s City and venture into the Museum of Antigua and Barbuda for a historical overview of the island. For retail therapy, take a stroll to the duty-free district of Heritage Quay, for great bargains on luxury goods, and then venture into the nearby Redcliffe Quay for one-of a kind purchases and cute al-fresco cafes. Feel free to hop on board a catamaran for a day trip to Antigua’s smaller, exclusive sister-island, Barbuda. Barbuda is renowned for its 17mile stretch of pink-sand beach and the largest Frigate Bird Sanctuary in the Western hemisphere. Antigua and Barbuda is the perfect destination for leisure - we invite you to relax, unwind and enjoy your stay. Antigua and Barbuda is a twin-island paradise offering visitors two uniquely distinct experiences. A country endowed with a lush tropical landscape and rolling hillsides, stunning sapphire beaches, and some of the friendliest people you will ever meet, we invite you to experience the warmth and charm of these islands. A rich history, vibrant culture, first-class accommodations, fine-dining restaurants, and award-winning beaches, set these Caribbean isles apart making them the perfect destination for a vacation get-away, or a place to make your second home. Known for its romance and captivating natural beauty, exploring Antigua & Barbuda is easy. A journey into the countryside will take you to the island’s gorgeous 365 beaches, amazing waterfront restaurants and the lush Fig Tree drives. For those in search of tourist attractions, visit Betty’s Hope Twin Sugar Mills, Devil’s Bridge, Nelson’s Dockyard - the only continuously working Georgian Naval Dockyard in the World, and Shirley Heights Lookout, offering panoramic views of the island and the home of the longest running Sunday Sunset BBQ party in the Caribbean. 08
  9. 9. Geography Antigua & Barbuda is made up of three islands; Antigua, Barbuda and Redonda. Low-lying and volcanic in origin, they are part of the Leeward Islands group in the northeast Caribbean. Antigua's coastline curves into a multitude of coves and harbours (they were once volcanic craters) and there are more than 365 beaches of fine white sand, fringed with palms. The island's highest point, Boggy Peak stands at 402m (1,318ft) high, and its capital is St John’s. Barbuda lies 40km (25 miles) north of Antigua and is an unspoiled natural haven for wild deer and exotic birds. Its 8km (5 mile) long beach is reputed to be among the most beautiful in the world. The island's village capital, Codrington, was named after the Gloucestershire family that once leased Barbuda from the British Crown for the price of 'one fat pig per year if asked for'. There are excellent beaches and the ruins of some of the earliest plantations in the West Indies. The coastal waters are rich with all types of crustaceans and tropical fish. 09
  10. 10. The Government Antigua & Barbuda is a politically stable independent country. It is a constitutional monarchy with the British monarch as head of the state. It has a strong democratic system of government based on the Westminster model headed by a Prime Minister which includes the legislative, executive and judicial branches. The hours of operation for Government offices are from 8 a.m. – 4:30 p.m. Mondays – Thursdays. Offices close at 3:00 p.m. on Fridays. Legal System The Legal System is derived from English common law and statutes. The courts administer the laws of Antigua and Barbuda, which consist solely of local legislation. The judicial system is composed of a lower Magistrate Court and the Supreme Court which includes a Court of Appeal and a High Court. The Attorney-General is responsible for the administration of the legal and judicial system. Final appeal from the courts of Antigua & Barbuda is to the Privy Council in England. The Economy Antigua & Barbuda is a ‘Middle to Upper Income’ country with a GDP of US$1.2 billion in 2012, 2.8% above the level of 2011 and a per capita GDP income of US$13,500. The growth continued in 2013, estimated at 2.3%, reflecting new investments in tourism, construction, and transportation. Services now account for 64% of the economy with industry contributing 33% and agriculture 3% (World Bank Report). 10
  11. 11. LEADERSHIP IN ANTIGUA 1) The Honourable Gaston Browne is the 4th and current Prime Minister of Antigua and Barbuda, having led the Antigua Labour Party to victory in the June 2014 general election 2) The current administration is pro business and pro investment 3) Since the Minister has taken office, he has signed off investment initiatives totaling more than $2.5bn USD 4) This strong, stable and forward thinking government is committed to seeing the country prosper 5) New Labour will be an all inclusive, all empowering movement of the masses with a primary objective of delivering first world living standards to all Antiguans & Barbudans 11
  12. 12. THE ECONOMY Antigua and Barbuda is progressively establishing itself as a leading business destination with an attractive mix of traditional and contemporary culture. A strong emphasis has been placed on making Antigua and Barbuda an engaging region not only to do business, but also to enjoy life. Antigua and Barbuda is ideally located in the north of the Eastern Caribbean as a convenient crossroad for both pleasure and business. Best known for its 365 beautiful beaches, it is a favoured destination for the more discriminating tourist and investor. For over sixty years wealthy families and celebrities from Europe and North America have established second homes or encouraged investments in premium vacation properties. Since its independence from Britain in 1981, Antigua leveraged its sovereignty to build an international banking centre which provides financial services to both Caribbean and international clients. The twin-island nation practices a democratic parliamentary system of government, and a new government administration was elected in June 2014,led by the Hon. Gaston Browne, which has evoked significant optimism amongst investors at home and abroad. The new Prime Minister, who is a former banking professional and a real estate developer, attracted strong support to rebuild the Antigua and Barbuda economy. There is a positive trend in the arrival of travelers by sea and air, and the more up-market accommodations enjoyed very successful 2014/2015 winter season. There has also been a notable resurgence in the popularity of Antigua’s international financial centre, and its relatively small but sovereign base is clearly preferred by international clients seeking personal attention for their wealth management portfolios. 12
  13. 13. TOURISM Tourism dominates the economy, accounting for over 50 percent of the GDP. The region’s many luxury hotels and resorts are renowned worldwide. GAMBLING Antigua and Barbuda is a primary location for incorporation of online gambling companies. OFFSHORE BANKING Investment banking and financial services is an exceptionally strong sector of the industry and make up an important part of the economy. PRIVATE JET REGISTRATION The government plans to establish a commercial airline registry in the country allowing UHNWIs to register private jets in the twin island state. SHIP REGISTRATION The Antigua & Barbuda department of Marine Services and Merchant Shipping (ADOMS) operates a quality ship registry for a demanding clientele. GROWTH Recent figures indicate that visitors to the region have grown by 22% over the last 4 years and look set to continue with the completion of a new terminal at V.C. Bird International Airport. 13
  14. 14. ANTIGUA & BARBUDA - Citizenship by Investment Programme (CIP) WHY CHOOSE CITIZENSHIP BY INVESTMENT PROGRAMME? Citizenship by investment is becoming increasingly popular for the world’s ultra high net-worth individuals. Some of the many benefits a second citizenship offers include: Ÿ Greater Stability and Security Ÿ Efficiency of Tax Ÿ Investment Ÿ Higher Standard of Living Ÿ Ease of Travel Ÿ Children’s education Other benefits include: • Visa-free entry to more than 130 countries in the world. • No personal income tax on worldwide income. • No estate, death, inheritance or capital gains tax. • No restriction on the repatriation of profits and imported capital The Antigua & Barbuda Citizenship by Investment Program gives approved applicants the benefits of full citizenship. The Antigua & Barbuda Citizenship by Investment Program (CIP) allows foreign nationals (including spouses, children, parents and grandparents over the age of 65) to obtain citizenship through investment in one of following ways: • National Development Fund: $200,000 USD • Real Estate: $400,000 USD • Business Investment: $1,500,000 USD Upon submission of your application you will be asked to pay the due diligence fees and 10% of the government processing fee. Upon receipt of a letter of approval you will be asked to pay the balance of the government processing fee and your US$200,000 contribution which will be paid separately to the Citizenship by Investment Unit (CIU) escrow account within a 30 day period and the Passport Fees. Once you become an Antiguan citizen you can travel to more than 130 countries without a visa. This is increasingly attractive to those individuals from China, Russia and the Middle East who have difficulties obtaining travel visas for Europe and North America. An Antigua & Barbuda passport ranks 25 on the world visa index. 14
  15. 15. Located on the west coast of Antigua lies Pearns Point, a dramatic and spectacular peninsula connected to the mainland by a narrow causeway. Reaching into the crystal clear waters is a stretch of untouched hillside surrounded by glorious white beaches. This new development is estimated to cost in the region of $300m USD. With the hotel rumored to be the Setai brand, sales are already underway with members of the Rothschild family purchasing six acres of land for approximately $20m USD. Pearns Point, Antigua Jumby Bay, Antigua INVESTMENT IN ANTIGUA & BARBUDA The establishment of Antigua & Barbuda as an HNWI destination has attracted buyers and investors alike. Non-stop flights, perfect beaches, a laid-back lifestyle and friendly banks make this island outpost an ideal spot as a weekend getaway or investment. When Jumbly Bay was first developed in the 1980s the 56 properties on the 300-acre resort were quickly purchased for their strong security and privacy. The estate homes currently for sale range from $7m to $30m USD and owners can recoup some of their investment by renting out their property for 10,000 USD per night. 15
  16. 16. Named ‘Singulari’ in tribute to its unique design, the extensive 1,600-acre development will be the largest of its kind in the Caribbean, and 50 per cent bigger than the regionally heralded Baha Mar Resort being built in the Bahamas. In addition to the employment opportunities, ‘Singulari’ is a major boost for the nation’s tourism and further proof of growing investor confidence in Antigua & Barbuda. This $1bn USD project is the vision of Yida Zhang of Yida Investments. Guiana Island, Antigua The recent purchase of Barbuda’s famous K Club has elevated the island to the next level. Bought by Australian billionaire James Packer and the actor Robert De Niro, the property will be transformed into a luxury high-end resort with associated properties. According to reports, the resort will receive $250m USD investment and will be developed under the ‘Paradise Found’ brand. K Club, Barbuda 16
  17. 17. How much is the investment of NRIs in Indian real estate market and out of this how much is invested in luxury housing? The real estate sector in India has demonstrated substantial growth in the last few years and it is projected to grow at the rate of 25% in the coming years. In recent times, the sector has emerged as one of the highly profitable investment alternative for both domestic and foreign investors. Market research Studies indicate that NRI property buyer’s investment in realty is roughly 35% of the total investment in India for brand new properties. Out of which nearly 30-40% is invested in the luxury housing segment. What is the reason behind NRIs preferring to buy luxury homes especially? One of the principal reasons comprises of changing demographics and rising aspirations. In the recent past there has been massive surge in the High Networth NRI populace across the globe. After spending a considerable amount of time in foreign countries, NRIs do look back to India to find out suitable homes that can both serve end user purpose and likewise offer a suitable investment opportunity for wealth enhancement. Being globally traveled individuals, the inclination is more towards better residential options that can cater to their exquisite/ refined taste. Hence luxury housing comes up as a natural choice for many NRIs as it can fulfill both their end user and investment requirements. In Conversation with Anupam Rastogi (Principal Partner SquareYards) 17
  18. 18. Anupam Rastogi Principal Partner SquareYards 18 Another important reason could be attributed to the supply dynamics. In the recent past there has been considerable surge in available luxury housing options. Leading developers are rolling out state of the art apartments and penthouses comprising of international design elements and top quality amenities. Likewise, there are also ultra luxury units developed on villa, row houses and bungalow formats, located on exotic locations such as Shimla, Kerala, Goa and Lonavala etc.
  19. 19. What do NRIs look for while buying a luxurious house? Given the nature of the purchase, the style, the architect and the design are some of the aspects that are always high upon the agenda of NRI investors. Given their global exposure, they ensure that the properties they are interested in should match the predefined global standards in terms of design, architecture and amenities. At the same time, they also ensure that the investment decision is undertaken on sound fundamentals, which could comprise a range of factors such as Return on Investment (ROI), rental yields and banks that have approved the project and are providing loans. Not to forget that NRI investors also emphasize on builder credentials and their past track record. Another key parameter involves the location where one would want to return to. This is one of the big questions for the NRI investor and is subject to multiple factors such as suitable employment opportunities, availability of good quality education facilities for children and proximity to friends and families. How do you see the prospect of luxury housing market in India? The prospect of the luxury housing segment seems to be sound and as time unfolds, there will be further expansion in the segment. With the Indian economy growing fast and more High Networth Individuals joining the wealth bandwagon both domestically and globally, there will be further rise in demand for luxury and ultra luxury housing in the country. The rise in demand will also result in reputed Indian developers to up their ante and bring in newer concepts of luxury in Indian realty. In the coming time we should see more designer labels, high quality exteriors and interiors and highly evolved services that can help developers differentiate their offerings from rest of the lot and cater to the taste of a highly evolved customer base with very refined tastes. 19
  20. 20. Do you see investment of NRIs in luxury housing segment going up by 2016? If so, by how much? Luxury housing segment comprises of a key component of NRI’s realty investment in India. With surge in NRI HNIs in tandem with a revival of Indian and global economy, it is expected the number of NRIs investing in Indian luxury projects are surely going to ramp up. Also it should be noted that these days to attract NRI investments, increasingly more developers, brokerage houses and consultants are aggressively marketing their properties in the international arena through property shows, participation in events & exhibitions and opening up of representative offices in various international locations. This will also help in further encouraging NRIs interest in various segments including the luxury segment. Coming to numbers, it would be slightly difficult to give an exact number, but if our estimates serve us right, the growth percentage should be in tune of 30-40%. 20
  21. 21. What is the growth rate currently of luxury housing (in percentage) and how much do NRIs contribute to this? Although luxury segment comprises of less than 10% of the total Indian realty market, it is one of the fastest growing segments in the Indian realty market. A market study was conducted on some of the major cities in India like Mumbai, Bangalore, NCR, Hyderabad, Chennai and Ahmedabad and the results indicated that the luxury segment (INR 5 crores and above) is growing by 38% annually, value wise. In terms of how much of the total investments are made by NRIs in Indian luxury properties, we do not have an exact estimate. Yet, it could be estimated that roughly half of the purchase is driven by the NRI segment. 21
  22. 22. Which are the cities and areas preferred by NRIs? What are the reasons behind the same? Bangalore tops the chart as the most preferred city by the NRIs, which is followed by Ahmedabad. The former’s strength primarily comes from its cosmopolitan appeal striking a chord with the NRIs and its rapidly expanding job market. On the other hand Ahmedabad capitalizes on its stable market and higher returns. Not to forget the fact that a large number of NRI investors belong to the Gujarati community. Other places which do feature in NRI’s investment plan include Pune, Chennai and Hyderabad. In terms of the most preferred city, Bangalore has topped the charts followed by Ahmedabad, Pune, Goa and Chennai. Surprisingly, NRI interest in Delhi and NCR has been subdued in the recent past. How have developers customized their projects in India to meet the requirements of NRIs? Although still an evolving segment, developers realize the growing significance of the NRI segment and are coming up with new elements both in terms of concept and functionality to satiate the taste of NRI segment. In terms of concept, newer concepts are being introduced. Earlier a large number of luxury homes included gold based themes, which was a definitive parameter for luxury. But now a lot of new themes are entering in the segment such as destination based, wellness based, spa based to name few. Likewise in terms of functionality again developers are trying to incorporate better facility management services, concierge services and advanced electronic surveillance systems to offer high value to the end users. 22
  23. 23. What is the price range in which NRIs usually prefer to buy? The range could vary anything from INR 2 to 15 crores. Anything else you would like to share. The Indian Real estate market has had its share of ups and downs, but the recent change in the government under the leadership of our Prime Minister Mr. Narendra Modi has brought a lot ofconfidence all across the investor community and industry. Today we are seeing that the country’s real estate sector is moving towards adaptation of new concepts in urbanization. Smart city, luxury housing, ultra luxury housing and so on. Already several bottle necks have been removed by the new government and we will see overall growth taking place in real estate. 23
  24. 24. How much do NRIs contribute to housing sales? Out of them how many invest in luxury The total share of NRIs in the housing sales comprises of 35%. As mentioned above, roughly half of them invest in luxury properties. What is the city wise distribution of NRIs in terms of investing in Luxury housing? We do not have the exact estimation. Nevertheless, as mentioned above, Bangalore leads the list when it comes to NRI investment in India’s luxury properties. This is followed by Ahmedabad and Pune. 24
  25. 25. Prime Office Markets in the World: Delhi’s Connaught Place stands 5th most expensive in the World Prime Office Markets in the World: Delhi’s Connaught Place stands 5th most expensive in the World The high growth rate of the Asian economy along with soaring real estate market, especially in China and India, seems to be pushing the commercial real estate prices through the roof. 25
  26. 26. Dellhi’s Connaught Place, at $157 per sqft per annum, has emerged as the fifth most expensive prime office market in the world amongst the top 50 global prime office properties list. New Delhi’s colonial heart, named after George V’s paternal uncle, Connaught Place, often abbreviated to CP, is one of the largest financial, commercial and business centre in India. The sprawling circular zone of Connaught Place houses the headquarters of several noted Indian firms. The former location of the headquarters of the British Raj, the area’s environs occupy a place of pride in the city and are counted among the top heritage structures in New Delhi. It was developed as a showpiece of Lutyens’ Delhi with a prominent Central Business District. According to a Research report, the top position went to London West End, with overall occupancy costs of $267 per sq ft per annum, while Asia continued to dominate the world’s most expensive office locations, accounting for four of the top five markets. In the prevailing list, Mumbai’s Bandra-Kurla Complex occupied the 15th position, and the city’s central business district (CBD) of Nariman Point was at the 30th position. 26
  27. 27. London $264 Hong Kong $184 New York $131 TOP 5 MOST EXPENSIVE LOCATIONS BY COUNTR 27
  28. 28. New Delhi $129 k Rio de Janeiro $129 E OFFICE RY (USD/sq.ft/year) 28
  29. 29. Godrej Azure (Pre-launch) Location:- South Chennai Price & Configuration:-2BHK, 3BHK, starting from 26 Lakhs onwards USP's:- 1. Connectivity 2. Accessibility to major IT Parks / hospitals / schools & colleges Salarpuria Divinity Location:- South Bangalore Price & Configuration:-2BHK, 3BHK, starting from 36 Lakhs onwards USP's:- 1. Booking Amount: 2 Lacs* 2. Located at Mysore Main Road, Opp. Metro Station. What’s Hot 29
  30. 30. BHARTIYA CITY NIKOO HOMES PHASE II Location:- Thanisandra Main Road Bangalore Price & Configuration: 1BHK, 2BHK, 3BHK, 3.5BHK starting from 28.1 Lakhs onwards USP's:- 1. Vaastu Compliant. 2. Close to schools, shopping malls & hospitals 3. Proximity to Metro stations Embassy Spring (Plot) Location:- North Bangalore Price & Configuration:-2100 sqft- 5400 sqft starting PSF = Rs 4000 onwards USP's:- 1. Total Development Area: 188.45 Acres 2. 45 acres of green spaces 3. Number of plots: 1147 4. 35 acres of high street shopping & commercial plaza 30
  31. 31. Chandak Paloma Location:- Goregaon (E), Mumbai Price & Configuration:-1BHK, 1.5BHK, 2BHK, 3BHK, starting from 1.1Cr onwards USP's:- 1. Unique Club House 2. Reserved Parking 3. 2 high speed elevators for 3 apartments Runwal Eirene Location:- Thane Price & Configuration:-1BHK, 2BHK, 3BHK, starting from 60 Lakhs onwards USP's:- 1. Located in close proximity to the Ghodbunder Road & the Eastern Express Highway. 2. 5 minutes drive away from the nearest shopping malls, Multiplexes & Hypermarkets. 31
  32. 32. Merlin Maximus Location:- B.T Road, Kolkata Price & Configuration: 2BHK, 3BHK, starting from 28 Lakhs onwards USP's:- 1. Location- BT road Sodepur 2. Fully loaded with all amenities. Kanakia Rain Forest Location:- Andheri (E), Mumbai Price & Configuration:-1BHK, 2BHK, 2.5BHK starting from 1.2Cr onwards USP's:- 1. Nestled amidst lush greenery and spread across 4.5 acres of land over a ridge. 2. All the towers boast of breathtaking panoramic views of the lakes & forest. 32
  33. 33. Location: Beaufort Park, London, UK Description: Multiple options for residential accommodations including contemporary Studios, Manhattans, 1, 2 and 3 bedroom apartments and penthouses. USP: Prices start from GBP 260,000. Projected yields start from 4.5% p.a Payment plan: GBP 2,000 deposit, 10% (less deposit) within 21 days, 5% in 6 months on exchange of contracts, 85% on completion. Property platter 33
  34. 34. Location: Brisbane, Australia Description: 376 apartments across 30 levels. Options available for 1Bedroom, 2Bedroom and Penthouse USP: Prices start from USD 395,000 Projected Yields of 5.3% p.a. Upto 80% LTV available Payment Plan: Deposit is 10%, 90% on completion 34
  35. 35. The union cabinet has given approval to the Housing for All by 2022 programme. With an objective of providing accommodation to the Economically Weaker Section (EWS) and Low Income Group (LIG), Housing for All envisions building 2 crore new houses by 2022. Set to become one of the landmark initiatives undertaken by the government in the recent times, it will not only solve the housing crisis of an emerging economy such as India but can also spearhead a new wave of urban development. The Housing for All initiative primarily involves slum re-habilitation, offering subsidized credit to the EWS and LIG segment and provision of assistance in house renovation. It also includes investment towards developing the infrastructure and civic amenities in the under developed and rural areas. It will be phased out in 3 stages comprising of over 4000 towns and locations in pan India. Special Feature - Housing for All by 2022 35
  36. 36. 36
  37. 37. Slum Rehabilitation Slum Rehabilitation is an important constituent of the overall policy with an objective of achieving a slum free India in next seven years. Based on the Gujarat model, it will involve private developers developing vertical buildings as affordable housing offerings for the slum inhabitants. In return, the private developers can utilize the rest of the land and hence derive commercial benefits out of it. Subsidized Credit Under the Subsidized Credit policy, the EWS and LIG section can afford subsidized credit with a modest interest rate of 6.5% pa. This can be a great money saver for the under privileged sections of the society. Earlier an INR 6 Lacs housing loan for 15 years with an interest rate of 10.5% would tantamount to an EMI of 6,632; in contrast under the new policy the EMI will come down to INR 4,050, reflecting considerable savings. Multidimensional Benefits The policy has all the required ingredients that can ensure multidimensional benefits by positively influencing various stakeholders involved. The biggest beneficiary would of course include the underprivileged section of the society in the form of availing decent housing alternatives. Likewise, the money saved from the help of financial assistance could be diverted into education and other spending thereby further helping the EWS and LIG segments. The introduced policy will stimulate more activities in the realty sector, thereby helping the realty sector players. It is also expected that in order to streamline the overall process, the government will introduce processes to incentivize the participation of private developers in affordable housing in the form of easier land acquisition policy and better credit etc. 37
  38. 38. Similarly it can also beckon a new wave of urban development in the form of satellite cities, new communities focused on affordable housing and development of peripheral parts of the cities. In order to facilitate the overall process, the central government in conjunction with state government will invest in infrastructure development as well in the chosen areas. This will in turn attract business and entrepreneurial investment in such places, consequently resulting in better employment opportunities and economic advancement. Additionally, the overall holistic development carried out can be a check on migration towards bigger cities. Challenges The ambitious plan envisions housing for everyone by 2022, thereby heralding a new era of growth and development for the nation. However, the overall plan is not insulated from challenges. The central government has to ensure that central and state governments along with urban development agencies and municipalities work in tandem with each other for smoother execution. A possible disagreement between different authorities can decelerate the growth momentum. Likewise, the government needs to undertake prudent steps towards curbing down any possible scope of corruption. The overall process needs to be transparently designed and should be monitored properly by the government agencies to ensure equitable distribution. Similarly the overall process will be ineffective unless not backed up with a robust infrastructure development framework in the background. It is essential that government should take strong measures to ensure a powerful infrastructure equipped with better connectivity, sanitation, water supply and electricity etc. 38
  39. 39. 888 Decoding Smart HomeDecoding Smart Home TechnologyTechnology in stepsin steps Decoding Smart Home Technology in steps Enhancing home lifestyle: Smart technology is a way of giving homeowners an “on-demand access” to various systems throughout the home. From video, data, telephone, wireless, security, climate, lighting and other home lifestyle factors that affect a family ’s daily life. Smart home technology provides daily home chores to run with more efficiency and ensures comfort.1.39
  40. 40. Advanced controls in kitchen: A kitchen is a “command central” when it comes to cooking, entertaining, enjoying family discussions and more. It is fascinating how smart technology pairs with appliances, faucets, and cooktop surfaces for a smooth run. Many homes have their smart tablet or keypad built into the wall in the kitchen to provide on- screen directions to their refrigerator that can access the internet, can play music, or watch favorite cooking television programs.2. Energy conservation: Many homeowners think that smart technology is only for people who want to have a remote control to everything. On the contrary, many smart home technologies actually help keep your family safe while saving you water and energy in the kitchen. Induction cooktops are one of these examples that produce heat that only heats the cookware when the metal comes in contact with the induction cooktop surface. This means a safer kitchen to work in, and less heat being generated for comfort while cooking. 3. 40
  41. 41. S m a r t h o m e c o n v e n i e n c e wherever you are: While the kitchen has many amenities for a smart home’s tastes, all homeowners should assess their lifestyle, to see what amenities would best fit their home and family. With smart technology you can c o n t ro l m u s i c , l i g h t i n g , v i s u a l entertainment throughout your home, temperature as well as your security systems. 4. Controlling your faucets in a smart bathroom: There are many homeowners who love total comfort and relaxation in their bathrooms. Smart home technology is the perfect way to be able to not only control your bathing experience while lounging in the tub, but you can also control your shower’s temperature, spray, steam, audio, and lighting of your shower, all at the touch of a button.5. Cooling and heating your home the smart way: Your home can use a lot of energy for cooling and heating to keep your family comfortable in all seasons and climates of the world. In order to do this without costing a fortune for fluctuations of outdoor air temperatures, your home can have smart technology that helps you control and monitor your energy usage with thermostats such as the Nest learning thermostat. It “learns” your family’s lifestyle and is connected to a Wi- Fi connection that enables home owners to control settings from any internet enabled smart device.6.41
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  43. 43. “Smart” heating and cooling through architecture and design: Other creative ideas for helping homeowners with heating and cooling doesn’t involve innovative electronics but rather placement of windows and doors and the position of your home that can help take advantage of nature’s seasons and temperature changes naturally. This is designed by careful consideration of a home’s site and how the sun moves across the sky, where the trees and other vegetation are located, where the winter winds come from, etc. This “smart” technology of this Passive House is an example of using the Earth’s resources and adapting our homes to work with nature.7.7. Safeguard water with smart home technology: While enjoying your bathroom is one topic, enjoying the savings on your monthly water bill is another. Instead of dreading your water usage each month, take advantage of smart water fixtures that use less water but have larger water droplets to produce a more luxurious experience. Other faucets can turn on and off automatically by motion and the temperature of the water can be seen by a color LED light indicator before putting your hands under the water. These smart technologies ensure a better and safer user experience and less water wasted – all at once. 8.8. 43
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  45. 45. “The city of lakes” - Thane, has its name derived from Sthan or Sthanaka, the capital of the Shilahara kings of Konkan. In regular talks, Thane is known as an extended suburb of Mumbai covering an area of 147 sq. km with a population of approx. 1.8 million. Case Study: THANE The New Face of the Mumbai Metropolitan Region Over the last decade, Thane has grown from a small suburban town on the outskirts of Mumbai to a self-sustaining metropolis. Previously a town with narrow roads and low-rise residential developments, it is today a city with sprawling flyovers, uninterrupted highways and wide roads. The Thane suburb now has integrated townships and high-rise towers, and its commercial real estate sector has progressed in tandem. Clearly, the city has witnessed several changes in the recent years both on the commercial and residential front. Being one of the vital suburbs on the central side, the progress of Thane city can be credited to its growing residential, commercial, retail and infrastructure development. Clearly, this vibrant metropolis has emerged as a favorite amongst home buyers. 45
  46. 46. Ghodbunder Road is a State Highway which runs through the district of Thane for approximately 20 km. It has an effortless connectivity to the two main arterial roads of Mumbai – Eastern Express Highway and Western Express Highway and an excellent Central Railway’s suburban railway network which links the city to entire Mumbai and neighboring suburbs. The presence of multiple subways, bridges and flyovers has made way for an uninterrupted traffic flow. Nearby cities of Mumbai like Pune and Nashik are also easily accessible from Thane. Due to the rapid development in this region, the area has attracted many reputed developers. This has led to a surge in the launch of many affordable and premium housing projects. Ghodbunder Road is interesting to developers primarily due to the easy availability of large land parcels. From affordable apartments to premium properties, the area offers a wide assortment of housing options. The proposed metro and monorail network projects on Ghodbunder Road would redefine the convenience and drastically reduce the journey time for daily commuters residing at Thane. This micro market is also an upcoming commercial location and investments into this asset class will see phenomenal price escalation over the next 5 years. Ghodbunder Road: Lifeline of Thane 46
  47. 47. What makes Thane the most coveted destination for home buyers? Township Culture: The availability of large tracts of land vacated by industries has triggered the development of integrated townships in Thane. These townships offer a methodically planned environment with better infrastructure, retail and commercial spaces within the premises. A modern day home buyer prefers great connectivity to business centres and convenience in day-to-day travel and hence is essentially choosing large community layout projects that provide a sense of comfort, security, convenience and above all a sophisticated urban living experience. Connectivity and Infrastructure: Thane, which was the terminus for India’s first-ever passenger train, is admirably connected to the neighboring suburbs thanks to the Central Railway’s suburban railway network. Infrastructure facilities have improved with the construction of SATIS (Station Area Traffic Improvement Scheme) and multiple flyovers being constructed over the Ghodbunder road. Thane is well connected to the eastern suburbs by the eastern express highway and to the western suburbs by Ghodbunder road. The city also has connectivity to Navi Mumbai by both trains and roads. With the huge growth in population, the Thane Municipal Corporation has taken steps to improve the overall infrastructure. Flyovers on Ghodbunder road have reduced the overall strain on vehicular movement to a great extent. This combination of favorable market attributes has not only helped in uplifting the standard of living in the city, but also attracted a massive amount of investors and end-users to Thane. 47
  48. 48. Improved Lifestyle Quotient: The phenomenal growth of high-end residential accommodation, multiplexes, shopping malls, auditoriums, art galleries, entertainment complexes, international schools, supermarkets and healthcare services have created a supportive environment to which the Thane Municipal Corporation has contributed substantially in terms of infrastructure in the first decade of the 21st Century. The charm of the city has been increased with Mother Nature’s bestowment. While Yeoor Hills and Parsik Hills envelop the city and add scenic beauty, more than 33 blissful lakes, spread across Thane, bring forth ample opportunities for water sports and recreation. Besides natural beauty, Thane has many landscaped gardens including the famed botanical garden. Consequently, the quality of life and high potential for future growth have undoubtedly made Thane a preferred location for modern day home buyers. 48
  49. 49. 7 ways to Prevent Clutter in Your Apartment The key to keep your apartment uncluttered is prevention. There are various benefits of having a tidier and organized apartment. First and the foremost reason is it makes your home look more like, well, a home. Secondly, a clutter-free apartment is likely to lower your stress level and bring a sense of calmness in your living space; Who doesn’t want that? Here are some tips to remove clutter from your apartmeent 49
  50. 50. 11Find a Spot for Everything: All your appliances, housewares and other items need to have a permanent place. Whether you need to install shelving or invest in some serious storage options, ensure that there is definitely a place to secure all your day-to-day belongings every night before you go to bed. 22Don’t Put Off Your Mail: Opening bills and dealing with mail is part of adult life - but we all tend to cringe a little when we come home and see the mailbox full of letters, especially after a long day of work. Cue the massive pile of mail lying on your coffee table. Open these letters and bills and either recycle your junk mail immediately or file away important documents. Not only will this help you keep up with your monthly budget, but it will also keep paper clutter out of sight. 50
  51. 51. 33Go Digital: Want to know one easy way to eliminate clutter? Keep up with 21st century trends - get rid of that extensive CD/DVD collection and start digitizing your favorite music and movies. Not only will this clear up a lot of precious space, but it could also eliminate ugly and unnecessary wiring. Imagine how clean and streamlined your entertainment center will look without all of those extra electronics! 44Unsubscribe from Magazines and Newspapers: Almost all of your subscriptions can be viewed online, and this will keep your coffee table looking a lot more polished and refined. As an added bonus, this is a much greener way to get your news, articles and recipes - making Mother Nature a lot happier. 51
  52. 52. 55Shop Smart: This is a great idea for making your home less messy, and it’s also better for your bank account! Be sure to do some research on things you’re thinking about buying - especially for major appliances, furniture or items you plan on keeping or using for a long time. Also keep in mind that storage containers aren’t always the answer to eliminating clutter. After all, piles of storage boxes are still taking up much needed space in your apartment. Even though the clutter might be organized, it’s still clutter. Bottom line: If you’re not using it for some purpose, it probably shouldn’t be there. 66Scan the Apartment: Set a reminder once a month to scan the apartment for things you no longer need or want. Then, create piles for things that can be donated, put into storage, or tossed. This is especially true when it comes to your closet 77Clearing out the small spaces: Expired medicines and makeup, your kitchen cabinets, shelves in your bathroom. The objective is to remove any expired or of no use to you objects. Also removing the duplicate such as six different types of hair gel or combs, removing duplicates can really free up an amazing amount of space. Try out some of these tips to keep your apartment tidy! 52
  53. 53. 53 Investing in Pre-Launch Properties in India Pre-launch projects in real estate industry are gaining momentum with the support of eager public interest in India. The attractive interest figures of Home loans and improved economic earnings of professionals has acted as a medium for investing in pre-launch residential properties. Most of the real estate projects are developed in phases. With the basic approvals from the authorities in place and before the start of any construction activity, developers start marketing the projects to buyers at a discount. This is called ‘pre- launch’ in industry parlance. Although investing in pre-launch projects can be a slightly risky undertaking but it will surely pay off as long as one has factored in all critical variables. It makes most sense to investors who have a high risk appetite and the ability to weather an intermittent setback. Many end users also try and invest during the pre-launch phase to get financial discounts. The real estate prices of any new property are generally lowest at pre-launch. While pre- launches help in creating a market buzz around the property, the offering of discounts doubles up as a great marketing tool. Home buyers are also equally eager to invest in such pre launches as it offers a good rebate on the overall costs if the project finishes as per its schedule. A checklist for buyers, especially those planning to buy in soft launches and pre-launch is to personally scrutinize the builder’s property documents. As a potential buyer, one must check the documentation of the builder with the concerned land authorities including municipal corporations, declaration and sale deed from previous owners to other financial details of the project. Due to the lack of any industry watchdog to supervise complaints for deliberate delays, taking a legal course in the consumer court is the only remedial measure for buyers facing conscious delays. Nevertheless, such kind of launches with a heady mix of risk and returns in the real estate sector prove advantageous to the buyers who look for price benefit over the years of possession.
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  55. 55. Mortgage A mortgage is a pledge of real estate collateral to secure a debt. Also, it is a legal document describing and defining the pledge. The mortgage may also include the terms of repayment of the debt. It is also referred to as a deed of trust. Proprietary Lease The lease issued by a cooperative corporation to each tenant-shareholder prescribing his or her right to occupy a specific apartment and his or her general obligations as an owner and tenant. Underwriting In mortgage lending, underwriting is the decision-making process used to determine whether the loan risk is acceptable to the lender. Underwriting involves the satisfactory review of the property appraisal and examination of the borrower's ability and willingness to repay the debt and sufficiency of collateral value of the property. Amortization Amortization is the periodic payment of principal and interest on a liability (including a mortgage), or the write-off of a non-depreciable asset over a scheduled term. Bridge Loan A bridge loan is a loan for a short duration of time and can be used when one is purchasing one property but is dependent on the equity from another property that has not yet been sold. Once the property is sold then the bridge loan is repaid. Contract for Deed Contract for deed is a contract of sale and a financing instrument wherein the seller agrees to convey title when the buyer completes the purchase price installment payments. It is also called installment land contract and installment plan. Due Diligence Due diligence is the investigation and review of a property to determine any legal liability. Property Jargon 55
  56. 56. 56 Laugh it Off What's a mortgage broker? A real estate agent without a sense of humour. Salesman: This computer will cut your workload by 50%. Property Manager: That's great, I'll take two of them. A small real estate broker was dismayed when a brand new corporate chain much like his own opened up next door and erected a huge sign which read BEST AGENTS. He was horrified when another competitor opened up on his right, and announced its arrival with an even larger sign, reading LOWEST COMMISSIONS. The small real estate broker panicked, until he got an idea. He put the biggest sign of all over his own brokerage - it read... MAIN ENTRANCE.
  57. 57. Consumer C BIG BANG (MUMBAI)
  58. 58. Connect NO LOAN DAY (DELHI)
  59. 59. SQUARE YARDS continues to build India’s most trusted and biggest Real Estate Advisory platform, and is committed to collaborative business relationship with the entire realtor fraternitywithourlatestinitiative-SQUARECONNECT. Our vision is to create a significant, diversified and scalable global platform to our Associate Partners,thatprovidesvaluetoanextendedbaseofcustomerslocallyandglobally. For more information on the SQUARE CONNECT program please contact us on : +91 80809 30838 or email: square.connect@squareyards.in Do send us your valuable feedback on theaddress@squareyards.in THE VOLUME-04 JULY, 2015 WE ARE COMING SOON ON ANDROID