SkylArA Quarterly Real Estate News Bulletin From Tata HousingAPRIL 2012 VOLUME - ii
ALL INDIA
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Affordable housing launches seem to be on a down trend across the country, there is a
rise in demand for premium properties. Mumbai specifically has seen a forced
slowdown in launches due to lack of clarity on DCR norms.
Some developers, especially CREDAI members, are revealing built up as well as
saleable area to customers to enhance transparency in difficult times.
As per National Housing Bank, urban India's housing shortage is 2.5 crore units. At Rs.
5 Lakhs per unit, the potential market is Rs. 12,50,000 Cr. Lack of finance, lack of land
availability in urban areas, need for technological innovation are the challenges to this
opportunity.
Property rates will rise approx by 2% as in the union budget excise duty and service tax
has been increased from 10 percent to 12 percent.
Rate of Service tax for Works Contract under composition scheme rate has been
changed from 4% to 4.8% as a result Service tax rate for works contract activity as
follows
This issue’s highlights include:
• REAL ESTATE ROUND-UP 1 - 2
• NEW LAUNCHES 4 - 6
• AWARDS GALORE 7
• BY INVITATION 7
• FEATURE (FUTURE CITY) 8 - 9
• green HOME TIPS 10
CORPORATE OFFICE:
TATA Housing Development Co. Ltd.
12th Floor, Times Tower, Kamala Mills
Compound, Senapati Bapat Marg
Lower Parel, Mumbai - 400013
Tel: +91 22 6661 4444
Fax: +91 22 6661 4452
Copyrights 2011. TATA Housing. All rights reserved.©
For any comments, suggestions and queries on this newsletter, please contact Vikram Kharvi, Manager Marketing Communications at [email protected]
WELCOME TO SKYLAR - TATA HOUSING'S QUARTERLY REALTY BULLETIN, WHERE WE ENDEAVOR
TO BRING YOU THE MUST KNOW ON HOUSING & INDIAN REALTY MARKET, BUYERS GUIDES &
REVIEWS, INTERIOR & EXTERIOR DESIGN CONCEPTS & HOME IMPROVEMENT TIPS, UPDATES ON
OUR VARIOUS PROJECTS AND ACTIVITIES AND DISCUSSIONS ON A RANGE OF OTHER INTERESTING
TOPICS RELATED TO THE REAL ESTATE SECTOR.
Real Estate & Infrastructure Round-upBy: Product Development Team, Tata Housing
Particulars
Service Tax
Education Cess
SHE Cess
New Rate of Service Tax
4.800%
0.096%
0.048%
4.944%
Old Rate of Service Tax
4.00%
0.08%
0.04%
4.12%
Particulars
Service Tax
Education Cess
SHE Cess
New Rate of Service Tax
3.00%
0.06%
0.03%
3.09%
Old Rate of Service Tax
2.500%
0.050%
0.025%
2.575%
Real Estate Round-up
Skylar | Pg. 2
DELHI
CHENNAI
KOLKATA
BHUBANESWAR
GURGAON
MUMBAI
BENGALURU
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releasing plotted developments in amid a sharp fall in demand seen in
Delhi Government is re-considering various sectors over the years which key property markets such as Mumbai
options of light rail transit systems like has found large numbers of takers. and NCR.
tramways which are ideal for dense
areas where heavy construction like The extension of the airport Metro line Banks confirm that the quantum of
metro rail is not feasible. up to Gurgaon may miss its 2016 home loan demand in Bangalore has
deadline. Haryana government is yet to not dipped following the consecutive
Civil contracts have been awarded for give an official go-ahead to the Rs hikes in lending rates last year. For
crucial Faridabad & Jama Masjid Metro 1,613-crore project, the civil high-end units, it is the location that
Rail extension corridors. construction of which was supposed to tilts the balance and wherever floor
start in March 2012. levels are up to five, HNIs and senior
Funding plans are being evolved for corporate professionals are keen to
rapid rail corridors on the following buy.
routes: Delhi-Gurgaon-Alwar; Delhi- The Chennai corporation is all set to
Sonipat-Panipat; & Delhi-Ghaziabad- lay 360 integrated roads at an
Meerut. estimated cost of Rs 800 crore, The West Bengal government plans to
covering an area of 175.36 km under set up a highway development
13 Bus Rapid Transit Corridors are the 'Mega City' programme. corporation on the lines of the National
being planned by PWD across Delhi, if Highway Authority of India for
the roads cant be widened for the Parallel to the booming market for 2 development of roads and allied
same, then elevated roads dedicated and 3 BHKs, a small but steady market infrastructure in the State.
for the buses will be created. for 1 BHKs has evolved over the last
few years. One of the reasons cited is
the CMDA's (Chennai Metropolitan The Union Government appears to be
Gurgaon ranks third among India cities Development Authority) mandate to in favour of upgrading the Biju Patnaik
on the basis of per capita income, after reserve 10 percent of the space in Airport to that of international standard.
Chandigarh and Mumbai. It is home to larger projects for economically weaker
300 out of the Fortune 500 companies. sections (EWS).
It has thousands of white-collared As per the worldwide 'cost of living'
workers working here with high With the demand shooting up in the survey by Economist Intelligence Unit
salaries and disposable incomes. This residential segment, most builders are (EIU), Mumbai is the second least
has created a huge demand for keen to convert their erstwhile expensive city globally.
residential apartments and independent commercial ventures into housing
villas. projects. A month ago, the Maharashtra
government revamped the
Demand for low rise living is quite Development Control Regulations
high. Haryana Urban Development Bengaluru is seeing a record absorption (DCR) to increase transparency in real
Authority (HUDA) has been in commercial and residential segments estate transactions.
~ Tata Housing announces its first Shubh Griha, a part of integrated campus, the project offers all the
project in Gujarat, a mega integrated township project, designed by essential amenities that will uplift the
sustainable green township, spread internationally renowned architectural quality of life of residents of Gujarat.
across 135 acres ~ firm HoK of Toronto is planned taking Shubh Griha Ahmedabad will offer
inspiration from the architecture of 1RK, 1BHK and 1.5BHK apartments
Tata Housing Development Co. Ltd., Gujarat. The project will become a priced between Rs. 7.92/- lakh to Rs.
India's fastest growing pan-India real benchmark infrastructure project in 12.33/- lakh.
estate developers with a presence Gujarat. The project will follow an
across the consumer pyramid today integrated sustainable township Announcing the launch of 'Shubh
announced the company's foray in to approach and is conceptualized by Tata Griha' at Ahmedabad, Mr. Brotin
the Gujarat market with the launch of Housing with a vision to create a Banerjee, Managing Director and Chief
Shubh Griha, Tata Housing's iconic positive ecosystem for the Executive Officer of TATA Housing
value-housing pan-India brand in neighborhood and the community. said, “Following the success of Shubh
Ahmedabad. Griha at Boisar & Vasind in
The new and enhanced Shubh Griha at Maharashtra and coupled with an
The project will be jointly developed Ahmedabad will not just be painted extensive consumer demand from the
with Arvind Real Estate, under the with colours but with the hues of low and medium income consumer
banner of Arvind Smart Value Home Gujarat. Every little amenity has been segments, we are happy to bring this
LLP, a special purpose vehicle (SPV) planned keeping in mind the Gujarat iconic and successful brand for the
created to develop a mega integrated way of life. Strategically located on people of Gujarat. We are proud to
sustainable green township, spread Vadsar-Kalol Road, Near Arvind Mills partner with one of the most respected
across 135 acres.
TATA HOUSING AND ARVIND BRINGS SHUBH GRIHA TO GUJARAT
NEW LAUNCHES
Shubh Griha Ahmedabad is a project that was conceptualized specially for low income groups, which meant keeping
overheads cost to the minimum level inorder to maintain the affordability of the project. Hence various unique and innovative
initiatives were adopted to reach out to the right customer segments, such as the distribution and acceptance of application
forms was done through IDBI Bank branches. One of the very innovative technique used to spread the word amongst the
masses was the use of Gujarat’s oldest traditional folk theatre – Bhawai. Performance of Bhawai were organized at the launch
of the project and at various public places, where the performance enacted a musical drama sequence to spread the message
about the launch of Shubh Griha in Ahmedabad.
Skylar | Pg. 4
business groups of India. As varied segments.” home with its concept of the million dwelling units, with
part of our long-term strategy, 'Neighborhood and more than 70% of this
we are looking at establishing Mr. Kamal Singal, CEO- Community,' giving its shortage in the Middle and
our presence in the emergent Arvind Real Estate, added, customers a sense of place Low Income Groups. 'Shubh
Tier I and Tier II cities. This “In partnership with the Tata's and community life. 'Shubh Griha' is well placed to
partnership with Arvind , this project is one more Griha' offers unparalleled address these identified
Limited will help us tap onto important step forward for range of amenities and needs. Tata Housing plans to
Gujarat, an important market, Arvind Real Estate in experiences such as a take this brand into other Tier
for township projects, while delivering quality and trust to balanced mix of construction I and II markets in the country
being committed to our the real estate customers of and open spaces, maximum as well. With a balanced mix
endeavor of Sustainable Gujarat . After touching lighting and ventilation for all of buildings and open spaces,
Development.” millions of lives through our apartments, large, centralized these projects will be
apparels and lifestyle and accessible open spaces, constructed under the
Mr. Sanjay Lalbhai, CMD of products, we are excited to courtyards, recreational guidance of Indian Green
Arvind Limited, said, “Arvind bring state of the art, modern facilities, a hospital, school Building Council (IGBC).
is excited and proud to have and contemporary real estate and a community center with
joined hands with Tata solutions to the consumers in a gym, amongst others.
Housing in Gujarat for this Ahmedabad.”
mega project. This township Following the integrated 'Shubh Griha' is a cost
is all set to redefine standards sustainable green township efficient, quality product that
of quality and delivery of real approach, Shubh Griha at has been developed post in-
estate in Gujarat.This project Ahmedabad will be pre- depth research and
and partnership with the Tatas certified Gold by Indian understanding of the
is one more endeavour from Green Building Council consumer needs. Research
Arvind to enhance the (IGBC). 'Shubh Griha' moves has revealed that India today
lifestyles of consumers across beyond merely providing a faces a total shortage of 26
Unit Type
1 Room Kitchen
1 Bedroom Hall Kitchen
1 Bedroom Hall Kitchen Ground Floor
1.5 Bedroom Hall Kitchen
1.5 Bedroom Hall Kitchen Ground Floor
Carpet Area
293 Sq.Ft.
372 Sq.Ft.
384 Sq.Ft.
446 Sq.Ft.
457 Sq.Ft.
Price
` 7,92,300/-
` 10,03,200/-
` 10,37,400/-
` 12,04,600/-
` 12,33,100/-
THE PRODUCT MIX
The project received an exceptional response.
Applications forms for booking an apartment was
made through IDBI Bank branches. Over 10,000
application forms were sold within 15 days of the
announcement of the project launch. Long queues of
Amdavadis were seen outside IDBI Bank branches,
where the application forms were sold. There are
only 1090 units on offer and lucky winners will be
decided after a lottery administered by a third-party.
For more info: or visit Toll Free Number 1800 266 6666 www.shubhgriha.com
NEW LAUNCHES
Skylar | Pg. 5
Tata Housing Development Company, which it is built. It is thoughtfully air- road that connects to NH8 Highway
recently announced the launch of its conditioned and mapped for customers and is an arterial road interconnecting
first pan-India retail brand – GoodLife, to actually spend time rather than rush East and West Boisar. Goodlife Boisar
specially designed to bring mall culture off. You can safely say Goodlife will is planned spaciously over an
to urban localities where there are no become a destination shopping expansive courtyard, bathed in open
malls. experience in suburban locations like sky. It will intrinsically be a Ground
Boisar and beyond. Along with +1 structure and will be designed
Tata Housing will be introducing entertainment and cuisines for the aesthetically to enhance the shopping
GoodLife, as a part of its 65 acre family, Goodlife is the refreshing experience with a calm and
integrated township project in Boisar – experience that customers and retail comfortable overtone.
an upcoming suburb in the Thane brands have been waiting for.”
district in the state of Maharashtra. GoodLife, will take shape into a
Goodlife - Boisar is strategically hypermarket, which will cater to the
Speaking on the launch of GoodLife, situated as a part of the 65 acre daily requirements of the township by
Mr. Brotin Banerjee, Managing integrated township, in Boisar East, offering range of products such as
Director, Tata Housing said, “We are where more than 2500 families would apparel, accessories and services like a
very excited to launch our first retail be the primary consumer. Stationed at bank branch, ATM's , salon,
initiative GoodLife. It is so much more the front face of the township, it will restaurants, a café and entertainment,
than a collection of shops with basic attract shoppers and travellers head on customized as per the wish lists of the
infrastructure and a conducive as they enter the premises. There's also customers.
shopping environment. It is planned to the added advantage of being adjacent
fit the locality and geography into to Chillar Road. This is a 60-foot wide
Tata Housing unveils its Pan-India Retail Brand
Launches at “GoodLife” Boisar
NEW LAUNCHES
Skylar | Pg. 6
awards galore
Tata Housing again in last quarter was
honored with multiple industry awards. Our
Project New Haven Vasind was honored
with the Affordable Housing project of the
year by Realty Plus Excellence Awards (Wes),
by Realty Plus, India's leading real estate
magazine, while Primanti, Gurgaon was
honored with Residential Development of
the year and The Promont, Bengaluru was
adjudged Luxury Development of the year by
Real Estate Awards.
Additionally Tata Housing's MD & CEO
Brotin Banerjee was honored with the 'Most
Enterprising CEO of the year Award' at the
Real Estate Awards and also Tata Hosing was
felicitated with the recognition of Star Realty
– Lords of the Land 2011-2012 by Planman
Media.
1) Star Realty – Lords of the Land 2012 by
Planman Media.
2) Residential Developer of the year by Real
Estate Awards 2012.
3) Luxury Developer of the year by Real
Estate Awards 2012.
4) Affordable Housing Project of the year for
New Haven Vasind by Realty Plus
Excellence Awards 2012 by Realty Plus
Magazine.
By Invitation
2012-13 will be a year for the
Customers and the Investors
in real estate industry.
Because of the prevailing
uncertainties on the global
market and the likelihood of
further interest rate hikes by
the RBI in the early part of
2012, sentiments on the
residential market will remain
mixed over the short term.
The absorption rate – meaning the ratio of sales over inventory in
the market – is likely to be low, and the incidence of new
launches may see decline in the near short term. Rise in capital
values will be marginal because of low sales. Developers will be
looking at price correction in the near future, which means that
this may be the best time for investors and home buyers looking
at investing in the real estate market.
Project-specific price increases can be expected across all sub-
markets – this pertains specially to projects that are being
delivered or are nearing completion. The mid-end and affordable
housing segments will record healthy appreciation in capital
values in the short term from a low base. We expect these trends
to continue during the first half of the financial year 2012.
There can slowdown seen in the construction activity for the
time being. However, as demand improves, improving sales will
benefit developers who will focus on execution of their on-going
project portfolios.
The upcoming Real Estate (Regulation of Development) Act (“the
Real Estate Bill” for short) should establish a regulatory oversight
mechanism in India and regulate real estate transactions in India.
This will not only make the Industry more transparent, but also
will be a big confidence booster among the consumers towards
the industry. Also, during the Union Budget 2012- 2013, various
propositions have been made in order to address the shortage of
housing for low income groups in major cities and towns.
Adding further to that, proposals have also been made for
allowing ECB for low cost housing projects, which will benefit
both the developer and the consumers. We strongly believe that
consumers will be immensely benefited during 2012.
Real Estate Outlook 2012-13By Debdoot Das, Finance Department, Tata Housing
Skylar | Pg. 7
Bhubaneswar
Future City , BhubaneswarBhubaneswar is a beautiful innocent people, with their
township, called the city of cheerful manner, further embellish
temples, owing to the the beauty of the city.
innumerable magnificent temples
adorning every nook and corner. The city is now buzzing with the
The grand Lingaraj temple and boom in its real estate market,
Mukteswar temple stand as which is primarily because
testimonies to the splendid and investment coming in with IT
vibrant past of this city. The city is gaining a firm footing in the
one of the best planned township, capital to lay the foundation for
designed on the lines of growth in the near future. Most big
Chandigarh as the new capital city IT majors like TCS, Infosys and
by Otto Koenisberger. The Wipro have staked long-term
atmosphere is tranquil, serene and position in this peaceful city on
brimming with natural beauty and the eastern coast of India to tap
greenery. The charming and into its trained manpower. As
feature
Skylar | Pg. 8
disposable incomes and incomes in imposed on the height of the Nandankanan Road and the
general have gone up over the buildings in the Ekamra Heritage Khandagiri-Doomdoma
years, there is better demand for Zone between Kalpana Square and neighbourhoods hold very good
retail and higher-end residential Dhauli. prospects for price appreciation in
spaces. Bhubaneswar.
The upcoming suburbs in the city
include Chandrashekharpur in the
north, Khandagiri, Khurda, Jatni,
and Choudwar towards the south,
and along Cuttack-Bhubaneswar
Road which is on NH-5. This
elegant state capital is also the
favourite of retired senior citizens,
but rising costs of property in
Bhubaneswar over the last 2 years
The city limits encompass a 30 sq. have aborted the dreams of the Expanding rapidly, Bhubaneswar is
km area, bifurcated fairly middle class. Property prices in stretching out to meet the twin hills
proportionately into North and Bhubaneswar have trebled, and of Khandagiri and Udayagiri 8 kms
South Bhubaneswar by National residential property rates soared from the city on the one hand, and
Highway 5. While the southern from Rs.1000 to Rs.3000 per sq. ft, the Nandankanan wild life park on
parts of Bhubaneswar offer little depending on the locality. the other.
scope for development, the
northern parts are witnessing brisk From the current turnover of
real estate activity. The State approximately Rs.200 to 300 crore,
government is encouraging the real estate in Bhubaneswar is
construction of high rises upto 20 expected to grow to Rs.1000 crore
floors in these neighbourhoods, once the larger projects take shape.
though restrictions have been Patia, Raghunathpur on the
feature
Skylar | Pg. 9
Disclaimer:“The views expressed herein are not intended as recommendations to readers of this newsletter. Tata Housing Development Company shall not be liable to any persons for loss or damage incurred by readers."
“Here are some great tips for your herbs for use in the kitchen. A Make a paste out of baking soda
home that allow you to make a great way to recycle. and water and use to clean
statement while ensuring that you stay bathroom tiles, sinks and tubs.
green! Collect spent tea leaves/granules This mixture washes well so you
in a separate container and keep maintain the shine without
Reuse 1.5 lt PET bottles as pots for aside. Once you have sufficient worrying about slick bathtubs or
plants – these can be strung up quantities, use this as an excellent shower floors!!
and used for shallow rooted plants fertilizer for potted plant in your
such as ferns or even flowerings apartment or for potted herbs Use regular soap cakes instead of
plants. Cut a rectangular piece out grown for your kitchen. moth-balls. Simply open the ends
of the centre of the bottle, make a of the packaging of any fresh
couple of small holes through the Use a few drops of natural scented soap and place in
bottle at the top and bottom end oils/extracts, such as extract of cupboards or suitcases. Pleasant
so that several of them can be citronella, lemongrass and smelling, and no damage to your
strung up to create a cascading set menthol, readily available in clothes.
of pots that can be hung on water used for cleaning floors or a
balconies (inner side!!), fill with a clean cloth dipped and rinsed in Add some natural white vinegar
growing mixture of soil and vermi- such a mix and use to clean and sugar to the water in a cut
compost and get planting!!! These counter tops or furniture for their flower vase to add extra life to the
can be painted to suit your excellent disinfectant qualities. flowers – keeps your home
requirements. You can plant short Your home will also maintain a looking beautiful with fewer
flowering plants, ferns, or even fresh smell through the day. flowers to cut.
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green home tips
Skylar | Pg. 10