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The Address - Oct 2015

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The Address is proud to present the 7th edition of the series. Please browse through it to find interesting reads on: 1. CHENNAI Market 2. Dubai South - MAG 5 Development 3. Top selling projects 4. Land Acquisition Bill 5. 7 sisters of North East India 6. Purchasing Properties on Auction

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The Address - Oct 2015

  1. 1. THE OCTOBER, 2015 th 7 ISSUE DUBAIDUBAI COVER STORYCOVER STORY 5 business sectors for a balanced city growth. DECORATE YOUR ABODE ACCORDING TO ZODIAC SIGNS Seven Sisters of Northeast India.
  2. 2. DearReaders, Please accept the heartiest greetings of the festive season for you andyourfamilies. Your preferred realty advisory Square Yards turned 2 this October andwhatajourneyithasbeensofar!Wesincerelythankyouforthe trust vested by you in our services and affirm our commitment to serveyouwithsincerityandpassion. We got pretty decent feedback on the graphic and layout changes that we made to the last edition of THE ADDRESS. So, keeping the same in mind we are delighted to introduce the October 2015 editionforyourreadingpleasureandkindfeedback. Thismonth'seditioncarriesaCaseStudyonCHENNAIasoneofthe fast emerging investment hotspots of India. The cover story is centredaroundtheinterestingdevelopmentsinDUBAISouth. You will also find interesting write ups on the Seven Sisters of North East India in the Kaleidoscope section and 5 Business Sectors contributingtothebalancedgrowthofanycity. For our serious readers we have two articles on decoding the Land Acquisition Bill and tips to buy Properties on Auction. Some interesting reads on the rising trend of Service apartments and Studio apartments in cities of India and choosing home decor based onyourZodiacSignalsofindtheirplaceinthisedition. News and updates on Square Yards growth trajectory and latest acquisitionofORYDENTechLabswrapupthisissue. We hope you enjoy browsing through October edition of THE ADDRESSandcontinuesendingusyourvaluablefeedback. Eagerlylookingforwardtoyourbouquetsandbrickbats! KanikaGuptaShori Editor Editor’s Note
  3. 3. In This Issue 03 41 47 DesignedandpublishedbyTeamSquareYards: Content:SomeshRastogi,AmitaSingh,ParitoshKashyap,RiteshBhagat,PrenaPriya. Design:HardikPatel. 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 TheAddress.TheinformationinTheAddressisprovidedonanASISbasis,andallwarranties,expressedorimpliedofanykind, regardinganymatterpertainingtoanyinformation,adviceorrepliesaredisclaimedandexcluded. Toorderreprintcontact:SquareYards Cover Story.........................................................................09 5 Business Sectors..........................................................15 Case Study.............................................................................17 What’s Hot............................................................................ 25 In Conversation with Vivek Agarwal........... 27 CITY GARDENS....................................................................37 Before buying a property on auction.............41 Evolving Concepts of Living......................................45 Square Yards Growth Story........................................51 Events.............................................................................................57 Indian Real Estate going digital Indian Real Estate going digital Decorate your abode as per Zodiac
  4. 4. 51 23 3131 33 Kaleidoscope Seven sisters Kaleidoscope Seven sisters Decoding Land Acquisition Bill Decoding Land Acquisition Bill In News - ORYDEN TECHNOLOGIES In News - ORYDEN TECHNOLOGIES
  5. 5. Indian 03
  6. 6. Real Estatetaking off on digital wings. 04
  7. 7. efore the inception of the internet, it was difficult for Bbusinesses to connect to customers, speed up their service and keep a check on the business climate. Since the first computer hummed into offices, it has driven dramatic change. It has enabled quick flow of information in areas including entertainment, news, finance and academics. It has brought people closer by enabling various forms of interpersonal communication, notably e-mail, instant messaging, video conferencing, and social networking. Furthermore, it has allowed consumers to purchase virtually anything at any time, while providing producers with direct access to a wide range of markets. The internet today is a bustling industry, spurred by entrepreneurship and supported by a variety of industries and large enterprises. E-commerce industry, which started in India nearly ten years ago, is, at present, one of the fastest growing sectors of the Indian digital economy. India represents a $3.5 billion market, growing at approximately 60-70 percent every year. When taking a closer look at the digital disruption happening across sectors, the closer targets seem to be factors immediately affecting our lifestyle, like retail, healthcare, finance and real estate. Amongst these, real estate seems to be more in a fix right now about how to exploit this revolutionary medium faster and better. The realty sector is progressively moving towards digital trans formation. The initial stages of technology development that focused on the listing services for mainly residential sector have paved way for realtor's to innovate how technology can make their lives better. Also, on the investors end, transparency of information plays a pivotal role in real estate investments. With the aid of digital tools, the investor has clear access to all the info, thus helping him make well-informed decisions. 05
  8. 8. Real Estate Ecommerce Engines The power of internet is no more just restricted to property listing but has effectively started to dominate the entire value chain by enabling end users to make final transaction on the internet itself. These new age super powerful platforms equipped with some of the most advanced digital walkthroughs & virtual reality tools coupled with a transparent mechanism of booking can easily facilitate complete property transaction on the web. Property portal Housing.com, introduced Slice View towards the end of last year. The platform helps users to literally slice through a property, rendering 3 dimensional views. In the beginning of the year, Common Floor launched Retina, a virtual realty platform, that help individuals review & access multiple properties. Tata Housing is also aggressively investing on the online medium as the company expects 30% of transactions will be done on the online medium in the times to come. Similarly, Square Yards has recently introduced Scapes. A combination of both-slice views & virtual reality, the product intends to offer spectacular digital walkthroughs, thereby replicate a property on the digital world. Within just 19 hours of launch, the product sold 357 units of a NCR based developer- Indicating the game changing capabilities it has in the digital real estate arena. 06
  9. 9. From Advisories to Aggregators Amidst the changing contours of the Indian real estate industry, advisories & consultants are also harnessing the power of technology to change gears. Square Yards, which is the biggest player in primary real estate transactions in India is transforming into a real estate aggregator through the application of its newly introduced program - Square Connect. The program aims to consolidate thousands of powerful yet unorganized real estate brokers across one platform, enabling them sell specially sourced deals from Grade - A builders, which hitherto were not very interested to work with such brokers because of their unorganized approach. The platform has so far registered over 12,000 brokers & is expected to add around 100,000 brokers by the year end. Rising trends The Internet influenced real estate transactions worth $43 bn with $31 bn for residential and $12 bn for commercial properties, a Google study has said. It revealed that 74% of real estate research online was focused on residential buying and 26% focused on residential renting. To acquire information from the web, aggregator sites (62%) were rated as the top source for information, followed by builder and developers sites (52%). Online broker sites and real estate blogs and forums (45%) were also rated as popularly used destinations for information. It is apparent that the real estate industry has fine-tuned itself to the digital domain. Considering the pace at which technology is bringing a revolution in this sector, it is expected that the organized real estate space will double by 2017. 07
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  11. 11. The Manhattan of the Middle East. Dubai 0 years ago most of what was a nomadic desert, now is a glittering metropolis, the fastest 4growing desert city on the planet – DUBAI. Dubai's unfathomably high skyscrapers, towering into the clouds, are matched only in size by its vast, sprawling shopping malls. It carries a Cosmopolitan appeal (200 nationalities) and a place where entire communities of ex-pats enjoy all the trappings that a tax-free haven can offer. The vision of the government and the different economic sectors, have contributed to the economy of Dubai, making it the fastest growing metropolitan cities in the world. With a reported GDP to the tune of $88.65 billion and an average annual growth rate of 5% in recent times, opportunities in various sectors namely hospitality, Real estate, retail, and finance have been drawing the attention of investors. While working to have a strong economy, Dubai also strives to provide a high quality of life to the people and the society who have always been, and always will be, the bedrock of the city. This lies in the city's framework to increase citizens' well-being and happiness, in order to achieve the Dubai's Vision 2020. 09
  12. 12. This aerotropolis offers various residential options in its housing cluster “The Village” an innovative concept in urban living which would deliver 20,000 apartments. Each village comprises state- of–the–art facilities such as a well-reputed and recognized K-12 school, a civic center, a health and wellness complex, high street and retail outlets. Dubai South has also launched a rent-to- own scheme as a finance option for buyers in this project, in which a tenant paying rent towards a property over a number of years, can convert it into equity if they wish to purchase the unit after a certain period. This $6.8 billion development will also have a green focus, consisting of a greenhouse with a botanical garden and beautiful farms to allow residents to grow or buy locally grown produce. DUBAI SOUTH A City of You. To maintain its position as the world's most desirable places, the government of Dubai is building a new destination Dubai South previously known as Dubai World Central, an upcoming purpose - built city stretching across 145 sq. km. Its two main highlights are the proposed site for the World Expo 2020, the mega event that is expected to be visited by over 25 million tourists and the Al Maktoum International airport which boasts to be world's largest passenger airport once it completes its $32bn expansion. The airport will have an annual accommodation capacity of more than 200 million passengers. 10
  13. 13. 11
  14. 14. Furthermore, to involve people of all age groups in outdoor activities, it has an indoor walking trail maintaining a climate control environment. The city will house several business districts within the development across sectors such as aviation, logistics and retail. The government has also invested heavily to attract businesses to set up within the development. Dubai South is expected to eventually house a million people, support around half a million jobs and promises key investment attributes, proximity to key employment nodes, quality of lifestyle and relative a f fordability to it s multinational population, workforce and prospective investors. Several renowned Real estate firms have also announced projects within the development. Dubai-based property group MAG 5 and MBM Holding recently launched a new affordable residential project called MAG 5 Boulevard in Dubai South. Aiming to appeal to those working in the community, the Dhs 700m project will have 1,000 residential units surrounded by re t ail , lei s ure , dining and entertainment amenities. 12
  15. 15. MAG 5 BOULEVARD With 1000 residential units in 13 modern G+6 buildings, Mag 5 Boulevard is your answer to affordable urban living in Dubai. This first community project launched in the heart of Dubai South residential district would spread across. 1,538,000 sq. ft. of area delivering exceptional functionality and aesthetic appeal in each of its designed squares. This low rise residential district houses 1, 2, 3, bedroom and studio apartments loaded with lavish amenities. Being placed in close proximity to Jebel Ali and Dubai Investment Park it provides an attractive residential preposition to people working in these areas. 13
  16. 16. Ÿ 5 min to Dubai Marina Ÿ 30 min to DIFC Ÿ 35 min to Dubai Int'l Airport Ÿ 50 min to Abu Dhabi Ÿ Easy reach to al Maktoum Int'l Airport LOCATION ADVANTAGE Ÿ Affordable prices and attractive 5 year payment plan. Ÿ Strategic location. Ÿ High Rental Demand and Desirable ROI expected from Dubai South project. Ÿ Well established and trusted developer. Why Invest in MAG 5 Boulevard? 14
  17. 17. he real estate sector is one of the most Tglobally recognized sectors as it plays a major role in the growth of cities, leading to the development of an economy The real estate sector is composed of five sub sectors -housing, commercial, hospitality, industrial and medical. The residential sector focuses on the buying and selling of properties used for non-business purposes, mostly dwellings. The commercial sector is concentrated on real estate used for business purposes; common types of commercial real estate include retail and office space. Industrial real estate focuses on manufacturing and production. Plants comprise the most common type of industrial real estate. The medical real estate comprises of buildings, offices and campuses leased to member of health care organizations or owned by hospitals, healthcare systems or public/private third party groups. The hospitality sector holds the buildings or campuses used in form of hotels, service apartments or lodgings, theme parks, leisure centers, pubs and restaurants. In India, real estate is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. The real estate sector in India is being recognized as an infrastructure service which is driving the economic growth engine of the country. The Indian real estate market is expected to touch US$ 853 billion by 2028. The residential sector alone contributes 5-6 per cent to the country's Gross Domestic Product (GDP). Almost 80% of real estate developed in India is residential space and the rest comprise office, shopping malls, hotels and hospitals. The market size of this sector is expected to increase at a Compound Annual Growth Rate (CAGR) of 11.2 per cent in the period FY08-20. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs. Real estate has emerged as the second most active sector, raising US$ 1.2 billion from private equity (PE) investors in the last 10 months alone. Foreign investors have bought tenanted office space worth over US$ 2 billion in India in 2014, a four-fold rise compared to the previous year, in order to increase their rent-yielding commercial assets in Asia's third largest economy. Mumbai is the best city in India for commercial real estate investment, with returns of 12-19 per cent likely in the next five years, followed by Bengaluru and Delhi-National Capital Region (NCR). Also, Delhi-NCR was the biggest office market in India with a supply of 110 million sq. ft., out of which 88 million sq. ft. is already absorbed. Sectors such as IT and ITES, Retail, Consulting and e-Commerce have registered high demand for office space in recent times. Delhi's Central Business District (CBD) of Connaught Place has been ranked as the sixth most expensive prime office market in the world with occupancy costs at US$ 160 per sq. ft. per annum. In residential sector Delhi offers several new townships consisting of 500–1000 residential dwelling units with quality infrastructure and back-up services and office space have been developed to accommodate the offices of multinationals, airlines, and financial institutions. In Bangalore, at least seven such townships in sizes up to 220 acres have been established. Specialized parks for software and technology have come up in Mumbai, Bangalore, Hyderabad, Chennai and Pune. Furthermore, in most recent times, cities like Ghaziabad, Surat, Faridabad, Nasik and Patna have been growing tremendously due to rapid urbanization, expansion of industries and improved infrastructure. The growth of the real estate sector is well complemented by the growth of the corporate environment and the demand for office space as well as urban and semi-urban accommodations leading to the growth of cities. The different metrics of these different sectors are used to gauge the health of the real estate industry. 15
  18. 18. 5for a balanced city growth. business sectors 16
  19. 19. Though when it comes to residential heavy weights, Chennai might not be the name that first strikes the mind due to certain reasons that involve comparatively higher mercury levels for most parts of the year & the language barrier; which sometimes act as deterrents for few. However the metropolitan city has witnessed substantial surge in real estate activities in the recent past. Like Bangalore & Pune, the rise in the IT industry along with the arrival of a plethora of other MNCs in the recent past has been driving demand. In 2013, nearly 4 million Sq. Ft. of land has been acquired by the IT/ ITES sector alone in the city. The total IT workforce of the city has been estimated at around 5 million at the moment- Giving a great push to the residential market in Chennai. Presently the total office market stands at near around 60 million Sq. Ft. with an occupancy of roughly 80%. Along with IT/ ITES, the BFSI sector is also demonstrating strong growth in the commercial segment. Likewise being a port city & one of the biggest industrial & manufacturing hub in Southern India has further added to the vigor of the residential market. In the recent past the city has been witnessing annual property launches in tune of 30,000 to 40,000 units with an estimated absorption of 65 to 70%. chenn in EmergingAn Emerging Real state MarketE 17
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  22. 22. Along with the rise in the IT/ ITES & other industries such as BFSI, Electronics, Automobile & Marine, Chennai is constantly ramping up its infrastructure. Phase I one of the Outer Ring Road (ORR) has been completed & work on the Phase II has started in full swing post acquisition of the land. The Phase I of the project connects Vandalur to Nemilichery whereas the Phase II of the project which will cost roughly INR 14, 000 million will connect Nemilichery with Minijur. It is expected that at least 30% of the vehicles entering the city will use the ORR thereby helping in a considerable amount of decongestion for the city. Land alongside the ORR is also demonstrating considerable surge in prices in the recent past & increased real estate activities are expected in the coming time in & around the ORR. It is also expected that ORR will help in the industrial development of the Northern Parts of Chennai. The rise in employment due to high pace of industrialization will eventually fuel the realty market in the region, which was hitherto not counted among robust realty markets. The city is also increasing its public transport facilities that includes bus, metro services & monorail services. The relentless work on public transport is part of the administration's plan to increase the share of public transport to transport to 46% by 2026- A considerable 19 percentage point increase from the present numbers. In the recent past, the administration has announced various new bus routes along with adding new buses on the existing lines. Likewise Chennai Metro will fully commence by 2016 wherein the Phase I will be completed. The Phase I consists of two corridors- Washermenpet to Airport & Chennai Central to St. Thomas Mount respectively. It is expected that once completed, the Chennai Metro will cut down the total commuting time drastically by 75% between the ends of the city. Chennai administration has also proposed a 111 km long monorail network comprising of four corridors to run across the city. Infrastructure 20
  23. 23. Nearly 90% of the market in Chennai is concentrated in the South & West, with the former considered to be the fastest growing micro-market on account of better employment options in the vicinity coupled with economical price options. Major South Chennai locations involve, OMR, Kelambakkam, Guduvancheri, Sholinganallur, Chrompet & Perumbakkam etc. The Central part of the city is primarily concentrated with high end luxury & premium projects. The Central part of the city is also witnessing an ongoing trend of redevelopment wherein existing bungalows are being transformed into new apartments. Major locations in Central Chennai include, Nungambakkam, R.A. Puram, Alwarpet, T.Nagar, Mylapore, Royapettah, Kilpauk, Anna Nagar, Teynampet and Adyar etc. Though activities have not picked up in the North at the moment, as mentioned above ORR can stimulate industrial development in the region, thereby giving an upward thrust to the residential markets Old Mahabalipuram Road (OMR) in South Chennai is a major IT corridor of South India. Due to its status as the IT corridor, the location off late has been witnessing massive surge in real estate activities. OMR is home to a range of IT companies such as TCS, Infosys, Accenture, Hexaware, HCL, Cognizant & much more . OMR features amongst some of the major IT parks of the city such as TIDEL & SIPCOT etc. As a consequence of a booming IT industry, OMR is also demonstrating a burgeoning residential real estate sector. Nearly 100,000 individuals are employed in the corridor, contributing towards the growth of the residential markets of this location. A range of prestigious Grade A developers have been involved in the location in the recent past, which includes distinguished names such as Mantri, Casa, Hiranandani & Purvankara etc. OMR Southern Part Leads the Realty Sector 21
  24. 24. Some of the major projects in OMR include Godrej Azure, Pacifica Aurum & Nivaas Nivriti etc. Godrej Azure offers a range of 2 & 3 BHK apartments. The project is being liked by both end users employed in the nearby IT companies along with investors. Pacifica is also located on OMR with a range of 2, 3 & 4 BHK apartments falling between INR 4.2 to 8.4 million. Likewise Janseen Nivas Nivriti consists of 1 & 2 BHK apartments. Major Projects in OMR The overall Chennai market is still dominated by the end user, making nearly 4 out 5 purchases. Compare this with another emerging IT Hub Pune, wherein the investor community is as big as the end user & constitute half of the market. However, increasingly there has been a surge in investor activity in the city in upcoming locations such as OMR, wherein investors along with the end users are taking significant interest. The euphoric sentiments could be explained by OMR's expanding economy propelled by range of new IT/ITES industry related developments aided by peaceful & calm atmosphere & economical prices, which ensures both high appreciation & peaceful living. Future Prospects of OMR 22
  25. 25. Decoding Land Acquisition Bill the 23
  26. 26. A powerful land acquisition law is the cornerstone of strong real estate growth. India hitherto had an archaic land acquisition policy, which according to many has been detrimental to the growth prospects of the Indian realty sector. The very first land acquisition bill was introduced in 1894, which allowed the government to acquire land for development purpose. However, it was believed that the nature of the land acquisition adopted has been very unfairly biased against the land owners resulting into numerous disputes in the past. Likewise, there had been a dearth of transparent & clearly defined acquisition frameworks, thereby further aggravating the troubles. In 2007, the UPA government made its first attempt towards amendment in the existing laws, which however could not be taken forward due to absence of a majority in the house. Thereafter in 2013, the UPA government introduced the Right to Fair Compensation & Transparency in Land Acquisition Bill. It set the framework for acquiring land for Government, Private, Public- Private-Partnership (PPP) projects. In the newly introduced bill, the Guidance value has been revised to twice & fourfold of the existing market values in urban & rural areas respectively. (Guidance value is the price of land defined by the government) Likewise a clause was introduced wherein minimum of 80% & 70% of the residents should give their consensus for land acquisition pertaining to Private & PPP projects respectively. Similarly the policy has strongly stipulated that no one could be displaced until and unless the entire payment has been made and/or alternate place for rehabilitation has been completely prepared. Likewise it has been made mandatory to conduct Social Impact Assessment (SIA) & Environmental Impact Assessment (EIA) to gauge the social & environmental impacts caused due to displacement & development is also an important addition to the Bill. Though the policies & guidelines mentioned had a positive impact in terms of mitigation in legal expenses involved in land acquisition, there was a significant amount of discontent among the developers & construction companies. The discontent has emanated from the fact that the bill made the overall process of land acquisition tedious & costly. After power change in 2014, the new NDA government has proposed certain amendments in the existing bill with the objective of easing out the process of land acquisition. A range of 5 projects involving defense, infrastructure (social, physical & rural), affordable housing, industrial corridors & PPP projects would not require SIA, these projects would also not require the mandatory consensus of the 80% of the residents. The new amendment has also introduced the provision of mandatory employment to one of the members of the displaced family post acquisition. Though there are mixed reviews about the efficacy of the land acquisition policy, however a certain section in the intelligentsia believes that once approved, the new policy framework has the required ingredient to give a push to the ongoing developmental & infrastructure drive. The proposed amendments are presently under consideration in the parliaments & are expected to be subject to further discussion in the coming time before something concrete gets finalized. 24
  27. 27. WHAT’S HOT25
  28. 28. Square Yards presents some of the hottest properties from across India exclusively for you. Handpicked from a vast list of properties, these chosen ones should ideally fulfill everything a home buyer wants 26
  29. 29. Antriksh Eco Homes Location:- New Delhi Price & Configuration:-1BHK, 2BHK, 3BHK, starting from 4200psf onwards USP's:- 1. Situated in the Heart of Delhi - Dwarka Artha NEO Midas Location:- Bangalore Price & Configuration:- 1BHK, 2BHK, starting from 9.95 Lacs onwards USP's:- 1. Bangalore’s most affordable apartments 2. Pay Just Rs. 55,000* now & Rest On Possession 3. Starting Price Rs. 9.95 Lacs* Ruchi Active Acres Location:- Kolkata Price & Configuration:-2BHK, 3BHK, 4BHK & Penthouse starting from 5750 psf onwards USP's:- 1. 2 towers 2. Angelica tower Possession in 1 year 3. Daffodil tower Possession by 2018 end VVIP Meridian Towers Location:- Noida Price & Configuration:-2BHK, 3BHK, 4BHK starting from `40 Lacs. USP's:- 1. Buy back @ 50% after 3 years 2. Modular kitchen and ac's LED 3. Parking facility, FTTH (Fibre To The Home) 27
  30. 30. WHAT’SHOT Central Park THE ROOM Location:- Gurgaon Price & Configuration:- 1BHK, 2BHK starting from 53.8 Lacs onwards USP's:- 1. Flexi plan 30:35:30 2. PLP 35:65 Subvention 15:80:05 3. Fully loaded apartments Antriksh Golf Address Location:- Noida Price & Configuration:- 3BHK, 4BHK, 6BHK starting from 4250 psf onwards USP's:- 1. Penthouse, Duplex with lounge 2. Subvention 10:80:10 , PLP 20:60:20 Rajwada Residenza Location:- Kokata Price & Configuration:- 2BHK, 3BHK starting from 3650 psf onwards USP's:- 1. Completion in 2016 2. Attractive CLP Hiranandani (Edina & Bayview Towers) Location:- Chennai Price & Configuration:-2BHK, 3BHK, starting from 87 Lacs onwards USP's:- 1. 25:75 scheme 2. Rent back offer: 30,000 per month for 18 Months 28
  31. 31. 29 Real estate tech in India can be classified into two major broad segments – a) Classifieds and listing platforms b) Transaction oriented platforms. Most classified listing portals in India are just an extension of phone number directories that are mostly being used by intermediaries for putting traps and tossing up smokescreens for customers, while transaction oriented portals in the market are being used to push latest new launch projects. Squareyards.com is positioned to be an independent and transparent search and discovery platform that does not have any broker or builder induced biases or impediments. It offers deep research, data driven insights and decision making tools that help consumers take an informed property decision. At the core of the Squareyards.com portal offering lie in-depth data and strong 'usable' insights generated through analytics focused on user needs. Decision drivers - Lifestyle, Livability, Connectivity, Readiness, and Value for Money indices – are an example of this approach. A few examples of currently implemented unique innovations include the following: Q. How is the Square Yards portal different from other portals? Ÿ City level Heatmaps: Help in exploring the city and identifying the best-fit locations based on an array of factors like price, connectivity, livability, project completion status, project class etc. Ÿ Price Vs Size Scatter Plot: Maps the available property options on price & size in a single view while helping the user in identifying best-fit projects through an array of smart filters Ÿ Information rich Project & Unit pages: Help in evaluating the projects and units through rich and structured information like carpet area as percentage of total area, key distances from important places like nearest connecting roads etc. Ÿ Needs Based Recommendations: An automated engine that provides scored and sorted projects and units based on user needs and unbiased algorithms. In Conversation with Vivek Agarwal Vivek Agarwal Principal Partner Square Yards
  32. 32. 30 Q. How is technology impacting the nature of real estate transactions in India? Is Indian real estate industry fertile enough at present for adopting new technological innovations? The Indian customer, in lock step with global trends, is increasingly a smart digital user and is expecting businesses to provide personalized and effective services. However, real estate market in India suffers from significant digital lag and service vacuum. Considering the size and dynamics of the Indian real estate industry, we believe significant opportunity exists to help customers take optimized and delighful property decisions through innovative DIGITAL + SERVICE business models underpinned by platform-based customer-centric approach. There is a massive need for quality services. Online players need to evolve from brokerage based pseudo-advisors to enabling genuine last- leg service providers like financial & legal advisors, vastu experts, interiors designers, a f t e rma rke t s e r vi c e p rovid e r s like documentation and payment collection etc. Also deal-making needs to be less stressful and it can be enabled by digitalizing pre-money buyer- seller interactions on a multi-sided platform. An efficient and self-regulating digital marketplace or a ‘dealroom' can take away lot of unnecessary pain and unnerving experiences buyers and sellers have to go through while a transaction is being materialized. Given improving technology adoption curves and best-in-class digital experiences emerging in other industries, it is very much possible to create such an ecosystem for real estate. Q. What is the role of analytics in real estate? Can intelligent analytics translate into tangible research outputs for the prospective buyers? Property buyers battle an array of challenges – ranging from biases and information gaps to getting a firm grip on their own needs and constraints – while looking for the perfect property in an increasingly complex, cluttered, and confusing market. Strong analytical tools can help them cut through the clutter and make an informed choice. For example our Need Based Recommendation tool uses in-depth data on locations, projects, and units that are at the heart of any property decision. Using proprietary analytics, all potential projects and units worthy of your consideration are scored and sorted and top recommendations are made. Due consideration is given to a wide variety of inputs including, but not limited to, developer rating, project status, unit loading, project's amenities and specifications, quality of construction etc. Additionally, most luxurious, largest units within budget, and best connected options are provided in the recommendations. Q. What new technology innovations are expected to be seen on Square Yards portal? Squareyards.com has three key objectives of bringing higher information transparency, delivering best-in-class user experience, and helping buyers take informed decisions at any stage of their decision journey. We will be revamping our portal soon to introduce next- level insights through a unique micro-market based navigational platform that will offer deep research capabilities to investors. Being co- created with the users, these features will be focused on addressing all pain points that users experience irrespective of the stage of decision journey they are in or depth of know-how that they have in real estate. We'll be soon launching our mobile apps for Android and iOS along with new features like geo-location based trackers, property valuation engine, and client portfolio management besides expanding to multiple cities while fine-tuning the data and analytics pieces for international rollout.
  33. 33. of Northeast India. Seven Sisters sobriquet for the seven states of North AEast India, The land of seven sisters comprises of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura. A place mystic and vibrant, framed by mighty mountains and gently rolling hills is also home to sparkling rivers, sacred lakes and strewn with landscapes abundant in exotic flowers and amazing animals. Each place is more beautiful than the other with distinct characteristics and together they form a kaleidoscope of magical imagery. Shillong the Scotland of India is a quaint, unhurried place set amidst smoky blue hills, thick with pine trees and orchids, singing brooks and scenic lake side views of crashing waterfalls. Complementing the freshness of pinewood and orchids, Assam – The Tea Country with its sprawling tea estates that are even, harmonious, and very green produces some of the best aromatic teas in the world. A walk through the silent acres of lush greens is a soothing experience. The centuries old heritage tea bungalows of Assam, are reminiscent of a romantic lifestyle, fostered by the splendid isolation of the prosperous tea estates. The 400- year-old monastery of Tawang in Arunachal Pradesh houses a gigantic 10 meter statue of Buddha exuding spirituality and peace. Kamakhya temple in Guwahati, Assam dedicated to the mother goddess, and one of the 51 Shakti peeths is also a big pilgrimage center. Tripura - a royal feast for the eyes, dotted with magnificent palaces; all spectacular in their indulgence, invoking the spirit of a romantic heritage. The majestic Ujayanta palace, set amidst sprawling gardens, is the crowning glory of Agartala. The Neer Mahal, opulent, romantic, rising in the middle of a natural lake - Rudrasagar, is resplendent in the glow of the evening sun. 31
  34. 34. For ardent wildlife fans, one is spoilt for choice in the North East with its array of National Parks and Sanctuaries that are home to the most exotic species of birds and animals in the world. Kaziranga on the southern bank of the Brahmaputra is the oldest park in Assam and with its tall elephant grass and reeds makes it the only remaining natural habitat of the great Asiatic one horned Rhino. A paradise on earth, Manipur nestled deep within the lush green corner of North East India, boasts of the world's largest and only floating park “The Keibul Lamjao National Park” which is the natural habitat of the endangered Eld's Deer sub species called “SANGAI”. For the wilderness enthusiast, a visit to the Namdampha wildlife park in Arunachal Pradesh is a challenging and exciting goal. A unique feature of this sanctuary is that it is the only park in the world where four of the great felines are found the tiger, the leopard, the snow leopard and the clouded leopard. In Arunachal Pradesh, there are 25 different tribes who can trace their origins to places like China, Mongolia, and Tibet. Each tribe has distinctive features and each have a distinctive identity manifesting their unique culture. The hill tribes in the areas now known as Nagaland have no generic term applicable to the whole race. The word Naga was given to the hill tribes by the people from the plains. Weaving is the traditional art form handed down from generations in Nagaland. Each of the major tribes has its own designs and color. Mizoram with the finest choir singers in the North East, is truly the song bird of the region. The Mizo's are fun loving and sociable people and despite external influences they have been able to retain and keep their cultural identities and tradition intact. Manipur, known as the land of Radha and Krishna have gifted India it's graceful and lyrical Raas Leela - a classical dance that enacts the love story of Radha and Krishna guarded by blue green mountains and embraces many colorful communities such as Meitei, Nagas, Kuki-Chin-Mizo, Gorkhas and Muslims. The Land of Seven sisters is indeed an experience, difficult to translate in words or pictures. No adjective is descriptive enough, no picture is expressive enough; one must feel it firsthand. Rapids and rivers, the Himalayas on 3 sides, forests echoing with the voices of the creatures that live inside, tribal people living in perfect harmony with nature, hunting and fishing, sweet aroma of tea in the air, Golden Mahseer to river Dolphins, North East is indeed a paradise waiting to be explored. 32
  35. 35. 33
  36. 36. Square Yards Acquires to Enhance itsOryden Tech Labs Design & Creativity Bandwidth “ 34
  37. 37. Realty startup Square Yards acquires Oryden Tech Labs 35
  38. 38. ndian real estate aggregator platform ISquare Yards acquires Oryden Tech Labs, a creativity & design studio based out of Ahmedabad. In order to ramp up its digital offerings SQUARE YARDS has acquired Oryden, a creativity & design studio that specializes in 3D architectural design, process visualization, digital walkthroughs & virtual realities. Though not disclosed, the nature of the deal has been cash & equity. The entire team of Oryden will join Square Yards. “Web is increasingly becoming the game changer in real estate industry with concepts like digital walkthroughs & virtual realities helping users visualize the property on web itself & take informed decisions, without actual property visit. Bringing in Oryden under the Square Yards umbrella will help us enhance our design & innovation bandwidth” says Tanuj Shori, CEO, Square Yards. rd It is the 3 acquisition in a row for Square Yards, which has recently acquired realizing.in & Luxe. The former is a Singapore based luxury realty agency whereas the latter is an innovative property portal acclaimed for using some of the latest property search & analytics innovation. Founded by Mr. Keyur Bhalavat, an IIM- Ahmedabad alumnus & Mr. Ravi Patel, a design wizard, Oryden started as a 3-D architectural design studio but soon ventured into various other innovative designs such as industrial process design & virtual realities. “The acquisition will be a great boost towards Square Yards digitization drive, both in volume as well as value. Besides, bringing in more projects online, Oryden will also be working extensively on the enhancement of Scapes- Square Yards proprietary online transaction engine ” Says, Mr. Biswaroop Padhi, Principal Partner & CMO, Square Yards. "Me and the entire team is excited to come on board the Square Yards growth juggernaut. While we were doing great independently, the management and geographical bandwidth that Square Yards has shall enable us to work on a wider range of projects and boost our R&D capabilities in holographic projections, 3D printing etc." says Keyur Bhalavat, Co-founder, Oryden. Square Yards, has recently introduced its e- commerce transaction engine named Scapes. Based on virtual reality & digital walkthroughs, the proprietary product has facilitated total transaction in tune of USD 50 million so far. In the coming months, Oryden will be working on Scapes, wherein they will introduce advanced versions of digital walkthroughs in which, the online user can voluntarily navigate through the property. It will be a break through from existing platforms, in which users have to follow a predefined walkthrough plan. The design & creative skills of Oryden will also be harnessed in the event business of Square Yards, wherein through 3-D projection, visitors will be able to see various real estate projects & learn more about them. Square Yards has recently crossed Rs 100 crore in revenues, with a gross transaction value in excess of USD 500 million. The startup did so by focusing on key business metrics- revenues, profitability and market share. It also scaled up its presence to 21 cities and seven countries with an employee strength of more than 900. 36
  39. 39. 37
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  41. 41. Pinjore Garden Panchkula Brindavan Gardens Mysore 39 Lodhi Gardens Delhi Rock Garden Chandigarh
  42. 42. 40 Nishat Bagh Mughal Gardens Srinagar Lal Bagh Bangalore Shalimar Bagh Srinagar Tulip Garden Srinagar Rock Garden Darjeeling
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  44. 44. Before Buying a Property on AUCTION 42
  45. 45. part from the traditional mode of purchasing a house from a builder or Aan investor, there is yet another way of purchasing a property. This is by buying property at bank auctions. Buying a property at an auction is both exciting and potentially profitable only if one knows the “Do's and Don'ts” of it. Few key things you need to look out for when contemplating purchasing a home at an auction: 43
  46. 46. Purpose of Buying Are you going to occupy and live in the home yourself? Are you going to rent it out as an income generating property? Are you going to flip it in 6-18 months or are you intending on holding on to it for the long term? This will help you determine what you should pay for the property. For example, if you are looking to purchase in a distressed geographic location, then a flip may not be your best bet since no matter what you do to the house, you may not realize the value you create through renovations during the hold period. However, if you think in x years the market in that location will recover and you are planning on holding for that period, then that same investment may make sense. Choose the mode of auction Banks can auction property either in an offline mode or online. The traditional offline mode is more popular in India, when banks announce the auction of the property in newspapers. Sometimes, big real estate agents also have this information. In this case, prospective buyers assemble at the auction venue and do the bidding. In the online mode, banks announce the auction on websites. The recently announced e- Auction by SBI is an example of this. When banks auction the property online, the prospective buyers will need to place online bids for the property. However, this mode is not yet popular in India. Determine value If you are financing the purchase, then an appraisal will be required and that will provide guidance as to its value. However, if you are buying all cash then an appraisal may not be in the equation. In that case, you'll need to look at comparable sales on your own. If you are using a broker, utilize the broker and have the broker perform a brief survey of property in the geographic region for purposes of determining its fair value. Inspect the Property to determine if there are any red flags Go out to the property with a contractor and have them look for any major red flags including condition of the roof, structural components, deferred maintenance etc. Have them prepare an informal bid. This can come in handy in case you are already in contract and you need to negotiate a price reduction with the Seller. Funding Factor Buying a property in an auction requires care to be exercised regarding the costs and property deeds, like any other purchase. However, the auction and purchase process works on tight deadlines, and one needs to have sufficient funds in place at the time of auction. If not, the deposit amount paid will be lost. Therefore one should buy the property in an auction only if the purchase funds can be arranged on time. Further, if the price offered at the auction is not very different from the market price, there may not be any substantial benefits in choosing such a property. If you're interested in buying a property on auction, you should have a decent risk appetite. It is always good to have a comprehensive knowledge about the process and about the properties you are interested in bidding on. Besides, auction properties are worth exploring for savvy, intelligent and motivated individuals who desire for profitable homes through an exciting journey. 44
  47. 47. The present-day economy and evolving real estate dynamics is leading to various shifting trends in standard housing choices of modern generation. While urban living had gained quite some popularity even a decade back, the trend has now been shifting towards the more relaxed ambience of suburban communities. Developers are inventing various concepts in order to make the housing market across major cities more attractive to prospective buyers. Various prestigious developers like Lodha, Oberoi, Four Seasons, Ascott, Hiranandani, Paranjape etc. are actively venturing into the new concept of apartment living due to the increasing demand and comparative costing of these projects. The two hot trends in urban dwelling currently are: Serviced Apartments The concept of luxury apartment lifestyle in residential societies has emerged due to a variety of new concepts of remote working and globe trotting lifestyles. The trend of self-employed individuals and the popularity of home office oriented businesses have also contributed to this mentality. A large number of professionals are shifting towards the metro cities for work in India. And this is the community which is pushing the demand for such apartments in India. A serviced apartment is actually a fully-furnished settlement, which is available on short-term as well as long- term basis. These apartments have all the basic facilities for everyday chores, which include a kitchen with a microwave with entire cooking range, dish washer and a washing machine etc. The concept of serviced apartments is very convenient in the metros and some tier-II cities, where showcased hotels are particularly overpriced. The topmost locations for serviced apartments are in and around the city's Central and Suburban business districts. Presently, the demand and development rate for serviced apartments is in Mumbai, Delhi, Bangalore, Hyderabad, Pune, and Chennai. Evolving Concepts of Living Service Apartments & Studio Apartments 45
  48. 48. Studio Apartments Basically, studio apartments consist of a large single room which includes living and dining areas, a bedroom, with compact kitchens and bathrooms. When first introduced in the Indian market, studio apartments were favored mostly by bachelors. Nearly 85% of the total demand for studio apartments in Mumbai, Pune, Bangalore, Chennai and Delhi-NCR are generated by IT professionals and newly moved manufacturing sector employees, due to the low maintenance and relief from high rents in the metro cities. 46
  49. 49. We are all different. Some like peace and quiet, some would be happier living in the center of a noisy city. The stars guide our choice of living conditions and environment. The choice of decor that we pick for our home relates to the kind of star sign we were born under. 47
  51. 51. ries. Settle in a large, airy and light home. Furniture should be effective and on the Abright side. You might love bright red colors, but don't overuse them, because they will irritate you in large doses. Hang lots of mirrors to make the space appear even larger. Tapestries and colorful scenic pictures are also great for Aries. Rearrange your furniture often to renew your surroundings and add fulfillment to your life. aurus. Harmonious Taurus is all about thoroughness. Furniture for Taurus should be Tmade out of natural wood, or be green, blue or yellow. TV will probably go in the center of the living room at its prime location. Plants in different colored pots will make a Taurus feel right at home. emini. For Gemini its best to purchase low, light furniture that can be arranged on Gthe sides of the room. A bed that folds into the closet or a wall can also work. The center of the house should be empty so that the Gemini can easily travel through the center of the rooms. Use light colors for main things like walls and furniture. ancer. Traditional coziness, lots of closets and nooks are any cancer's dream, Cespecially girl cancer. You will not be able to live without cute, multilayered curtains, a soft warm couch, or a quiet corner for relaxation. A country style of decorating might suit cancer well. eo. Classical Leo loves classical style. Your house has to resemble a castle or a Lpresidential suite. Large interiors, high ceilings, expensive grand furniture, fancy rugs, decorative vases, golden decorative touches are the things to find in a Leo's house. In short, a king's palace would warm your heart. irgo. Virgo is realistic and practical. These qualities will define a Virgo's home. VBeing very fashionable and having expensive things is not necessary to make a Virgo happy. Important here are order, durability, reasonable price and comfort. 49
  52. 52. ibra. The most important qualities of homes for Libras are aesthetics and quality. LMany Libras like antique things, rare decorating elements, other Libras like the sharp quality of modern style. Libras can be very different and unpredictable, but always balanced and calm. Good quality and originality are most important for them in home decor. corpio. Scorpio is a sign that's least interested in its surroundings. Very rich inner world of SScorpios is shown in the things they surround themselves with. Whatever the interest of a Scorpio in life, those are the things you can find in his house. Unusual geometric shapes and modern furniture can go great with Scorpio's character. Art Deco style might be the best suited for this sign. agittarius. This sign loves fashion. Sagittarius' home has to be modern, leave an Simpression and be spotless. The latest decorating trends and newest electronics are a must. Unconsciously, Sagittarius will go towards bigger and better things. Changes are also necessary. Try to change your furniture arrangement as often as possible. apricorn. Order and practicality are Capricorn's best friends. Furniture is functional Cand good quality, colors are natural and calm. Comfort is very important to a Capricorn. A kitchen doesn't present as much interest as the rest of the house. The living room and a workroom are most important and kept in the best style and neatness. The rest of the house could be forgotten for a Capricorn. quarius. Modern, glass and plastic are some of the preferences of Aquarius when it Acomes to decorating. Female Aquarius is more practical, male Aquarius will enjoy creative mess and popular modern furniture. Home mini water fountains, foldable cabinets, or innovative multifunctional couches are some of the things that will make Aquarius happy. isces. Most Pisces love a cozy, clean home. Female Pisces can't live without carpets or Parea rugs, beautiful furniture and elegant curtains. Male Pisces are not much interested in their home. Pick cool colors and soft round shapes. One of the most important things for Pisces to have at home is company. 50
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  54. 54. From a Humble Beginning to the Biggest Player in Primary Real Estate Millions of dollars have been poured into the online real estate space in India over last few years but most players are yet to discover the perfect recipe for success. On one hand Classified & listing portals are still discovering the 'true north' of their business models while transaction oriented players are finding it hard to scale up their businesses beyond certain geographies. Amidst such a transforming space, which is equally chaotic at the moment, the journey of Square Yards has been similar to that of a silent assassin, which started quietly behind the scenes, but soon built significant traction & scaled up to heights which are seldom seen among Indian start-ups. The Indian real estate start-up, which commenced its journey as a property advisory with just 3 employees has transformed into the biggest player in primary real estate in India with a total workforce of over 900. 52
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  56. 56. Square Yards was founded in October 2013 by Tanuj Shori, an IIM grad investment banker, and Kanika Gupta, an ex-model and actress, who were based in Hong Kong at that time. The husband-wife duo spotted a huge opportunity in NRIs who want to invest in Indian real estate but who neither get access to unbiased information to do research prior to making an investment decision nor do they get the requisite support & post transaction services needed post making an investment. The founders did extensive research about real estate in different micro-markets of top 10 Indian cities and started publishing these research nuggets to the NRI community. The NRI demand started flowing in and the company quickly expanded base in India by establishing offices in top metro cities and building relationships with top developers. They also setup a portal primarily to facilitatewww.squareyards.com end user research about Indian residential micro-markets. Over the next one and half years, Square Yards established its presence in 15 Indian cities and 5 countries and started dominating in all major markets it operated in while gaining virtual monopoly in the NRI markets of Singapore, Hong Kong, Dubai, Abu Dhabi and London. Still bootstrapped, it achieved the feat of doing 300+ monthly transactions and $1.5Mn monthly revenues to become the no. 1 player in India by revenue run rate. In April this year, the company raised a pre series investment of $6Mn from a group of HNI investors. Inorganic growth followed soon with the acquisition of Realizing.in and LUXE real estate in Singapore. The former is a Singapore based luxury realty agency whereas the latter is an innovative property portal acclaimed for using some of the latest property search & analytics innovation. The portal also evolved to a highly innovative and user centric research portal having features like city heat-maps, need based recommendation engine, rating parameters like connectivity, livability, carpet area, lifestyle and value for money for 6000 primary projects and 20000 unit plans. Next phase of Technology Led Growth Square Yards is now pursuing a technology led growth model and building multi modal distribution platforms that will help consolidate its position as one of the most innovative, largest and scalable businesses in India. It recently launched Scapes™ - a revolutionary platform for real estate e-commerce that has the potential to bring $ 2 Bn of real estate inventory online. Its unique features include real time inventory selection, virtual 360 degree walkthroughs, augmented 3D realty experiences, payments and portfolio tracking for customers and developers. The e-commerce platform received a blockbuster response when it sold 350 homes in flat 19 hours for the first project launched on it in Delhi. Scaling up while Bootstrapping Modest Beginnings 54
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  58. 58. 56 More recently, Square Yards launched India's first mobile-only demand aggregation plat form - SQUARE CONNECT for real estate brokers, independent financial agents, stock broking firms and financial institutions. The mobile app provides access to a much larger primary real estate inventory opening up more possibilities to do business outside the current area of operations and helping users earn potentially higher commission slabs from developers. Square Connect is already being used by 15,000+ real estate brokers across 12 different cities and 25+ top stock broking firms, financial institutions and online firms. Brokers and agents can use the app to view exclusively sourced deals from grade-A developers in top 12 cities in India, make bookings through the platform and track status of their payments with complete transparency. The app provides a dashboard to view complete transactional details and history of a property booking and gives notifications on key changes in the status of the transaction like client KYC approval, slab confirmation, collections from developers and payments of brokerage earned – all this with support of a dedicated Relationship Manager and a CRM help desk – to ease out the operational difficulties faced by them while dealing individually with the developer Tanuj Shori, Founder & CEO of Square Yards, says – “With Square Connect, we are pivoting our business model to be more of a technology-enabled aggregator and distributor of primary real estate rather than a pure play transactions advisory. Square Connect's unique platform will help Square Yards to reach the targeted 20% market share of primary residential market in India by consolidating supply and demand, creating significant barriers of entry through scale, sourcing capabilities, and use of technology to enable multi modal distribution platforms” “ The company aims to reach 100,000 brokers and hit 100+ institutional tie ups by the end of FY16. This would be the largest distribution network of primary real estate anywhere in the world. Given improving technology adoption curves and best-in-class digital experiences emerging in other industries, primary Real Estate in India is ripe for disruption using digital technologies and services, including ones that help brokers and advisors create much stronger positive impact in the market. With its proven execution capabilities, Square Yards seems to be well positioned to be one of the frontrunners leading this technology change. From Advisory to Tech Enabled Aggregator
  59. 59. Bling Event Gallery
  60. 60. Do send us your valuable feedback on theaddress@squareyards.in THE VOLUME-07 OCTOBER, 2015 Connect to a Brand new YOU! With Square Connect India’s No 1 Mobile App for Real Estate Brokers