Monthly Archives: Dec 2017

maintenance Smart Residential Living

Pet-Friendly Homes in India is the new market gimmick

Dec 7,2017 / By / No Comment

A few years ago it was problematic to find an apartment complex in a main Indian city that would rent to pet owners. Pets were not welcome with authorities mentioning a variety of reasons some valid and some flimsy. Though no law prohibitions people from having pets, and Resident welfare associations have no power to throw out denizens with animal companions.

Today, it is stress-free to find an apartment complex with pet-friendly features and facilities. Acceptance of pets has become more common in both old colonies as well as forthcoming building complexes. Building complexes in localities like Koramangala in Bengaluru, now welcome pets as long as owners warrant hygiene and no trouble to other residents.

The newest rules passed by the Animal Welfare Board of India are in favour of keeping of pets in an apartment or a society. Some of the major points covered by these guidelines are:

• No RWA has the right to prohibition a denizen from keeping pets.
• This ban cannot be compulsory even if a majority of people are in favour of this ban.
• A ban on a pet cannot be based on null and void reasons like a dog barking.
• A ban cannot be hosted regarding the size of pets in a society.
• No society by-law or regulation can authenticate a pet-related ban.

Pet-friendly housing features

But with the changing demographics and rising demand for pet-friendly housing, developers and architects are integrating pet facilities in the design of individual homes. Apartment developments coming up in Bengaluru now feature rooms with pet-sized furniture, custom-built cabinets for food bowls and nooks with heated window seats. There are some complexes that even come with a dog pool separate from the people pool.

Developers are also making special rooms for pets like veterinary clinics, day boarding, dog-walking services, grooming stations, miniature dog parks, and rooftop dog walks with special cleaning systems. Some builders are adding insulation between walls and floors to soften pet noises, mainly barking.

Smart devices to watch over pets

The improvisation of smart technology and home automation has added another dimension to pet-friendly features in apartment buildings. Latest mobile applications allow you to set up cameras in your apartment so you can use your smartphone to check up on your pets while you are away at work.

With the help of these smart gadgets, you can also lessen some of your own fears about what your pet does when you are away.
Technology is also simplifying communication with your pets even if you are not at home. Dual mode pet monitors not only keep a watch over your pet’s activities but also let you communicate with them. All you have to do is turn on the mic on your phone, and your pet can hear you at home and react to you in real time.

Conclusion

After many years of prohibiting companion animals, apartment complexes in many major Indian cities are now accepting and welcoming them. Some developers have even started using pet-friendly features as a marketing gimmick to promote their properties.

Like any additional facility or amenity, pet accommodations experience extra investments and maintenance costs. However, pets are like family and most owners will do anything for them, when it comes to keeping them happy and healthy, irrespective of cost.

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Buying property Real Estate Smart Residential Living

Walk-to-work concept is gaining momentum in Indian Real Estate

Dec 6,2017 / By / No Comment

The concept of new urbanism and walk-to-work is gaining momentum in major cities. The concept of new urbanism inspires developments such as housing, workplace, and shopping in the vicinity of each other, and walkable streets and blocks and reachable public spaces play a vital part in such developments.

According to Colliers Research, about 90 million sq ft of office space under the different stage of construction across India is likely to complete in the next three years, and to be precise IT-ITeS districts of the cities will promote such walk-to-work concepts in Indian cities.

Bengaluru residential developers have already started trying out the concept of walk-to-work with projects near Whitefield and Hebbal. Integrated developments with schools, colleges, malls and public spaces within 500 mts to 1 km range will further counterpart such walk-to-work growths.

Tier 1 developers are concentrating on integrated developments. Some of the most popular samples of the integrated township are Prestige Shantiniketan and Brigade Metropolis in Whitefield, World Trade Center in Yeswanthpur. More developers are going to join the league.

The Magarpatta city in Pune is also one such successful example of a viable development model integrated with the commercial zone, housing developments, institutions, healthcare facilities and entertaining spaces with best in class infrastructure.

At the same time, Transit Oriented Development (TOD) trends should create a balanced land-use blend with residential developments along the transit corridor that help in succeeding controlled developments within the cities.

With a focus on the creation of mixed-use development in the effect zone of transit stations that are within the walking distance of (500-800 m), TOD is possible to lessen the average travel time and expenditures on transportation.

TOD should also include a facility for public spaces, systematized parking and support foot-travelers, bicyclists and non-motorized transport (NMT) users in cities.

Recently, India has observed a notable economic growth, Indian cities are emerging at a rate faster than other cities in the world. According to the Ministry of Urban Development (MoUD), the urban population in the country, which is approximately 377 million, is expected to grow up to 600 million by 2030.

This rapid development coupled with growing residential and commercial developments has led to many critical significances such as road traffic issues, increased pollution, public safety, and flooding. This, in turn, is weakening the livability quotient in the fast urbanizing metro cities.

While India’s collective annual infrastructure investment amounts to 35% of GDP, the government evaluates that it needs USD 1.5 trillion in infrastructure investment in another ten years. Even this huge amount will possibly only help bridge the infrastructure shortfall rather than create room for future infrastructural development.

As per the study was done by Colliers Research, the real estate developers should also focus on mixed-use developments at city fringes or beyond the city limits to house the overflowing population of the urban region to stabilize population explosion in main cities.

This planning method will not just ease the burden of urban infrastructure but also drive affordable housing as it remains as a distant dream owing to the high land cost in overbuilt areas in the city.

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Infrastructural development Real Estate Real Estate News Smart Residential Living

Bengaluru city that is struggling to get skywalks constructed, will any of these projects see the light of the day

Dec 6,2017 / By / No Comment

Consider three mega infrastructure projects, Bengaluru Development Minister, Mr. K.J. George has been pushing for: a) determined network of elevated corridors of over 100 km in the city at an assessed cost of ₹25,000 crore.
b) Proposal to build four tunnels in the city adding up to a length of 17.65 km at an expected cost of over ₹10,000 crore.
c) Pod taxis on six stretches in the city at a cost of over ₹1,700 crore.

With the city government aggressively pushing these mega projects to smoothen the traffic, the question on the decision-making process and the lack of funding model have again come to the front.

There was no public meeting held before choosing the projects. The cash-strapped government companies, reluctant to spend a rupee on them, want to execute the projects through the Build Own Operate and Transfer (BOOT) model under public-private partnership (PPP). However, till date, none of the projects has received any funding from interested parties.

Though the pod taxis and the tunnels are comparatively new, the city authorities have been pitching the network of elevated corridors at multiple routes for two years now, including at Invest Karnataka 2016, but failed to receive any interested bidders.

Pod taxis
The Bruhat Bengaluru Mahanagara Palike (BBMP) has called for an Expression of Interest (EoI) for pod taxis on six stretches totaling to 35.5 km at an approximate cost of over ₹1,700 crore. BBMP Commissioner, N. Manjunath Prasad, said while a private firm had come forward to do a small pilot project as proof of concept; the project was yet to receive bidders.

Skywalks in the city
However, the city authorities have not succeeded in attracting private investment for infrastructure projects. For example, the BBMP has circulated multiple tenders to build over 100 skywalks in the city with no success. In the recent State budget, the State government has released a gap funding of Rs 80 crore.

PPP projects
V. Ravichandar, member, BBMP Restructuring Committee, said that nowhere in the country had PPP projects been doing well in the city center, except the Worli Sea Link in Mumbai. He also pointed out that the successes have mainly been in the highways sector.

Urbanist Ashwin Mahesh had a different take on the issue. He disagreed that the problem was in the choice of projects. None of the projects for which the government was seeking private investments were conceptualized following the classification of a gap in the infrastructure and a successive study on the possible result, he pointed out. Like the steel flyover, megaprojects are being moved from drawing boards to implementation without any discussion, he said.

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Government directs states to adopt new technologies for constructing affordable homes

Dec 1,2017 / By / No Comment

The government has instructed states and Union territories to follow 16 alternate innovative technologies for fast and better building of homes under the affordable housing in partnership (AHP) and in-situ slum rehabilitation (ISSR) schemes.
It also requested to launch the global housing construction technology challenge (GHCTC) to globally identify best technologies which are convenient for bulk housing.

The housing ministry said in a release, “States and shall adopt 16 alternate innovative sustainable, modern, green and disaster resistant technologies that have been recognized.”

Announcing seven strategies to speed up implementation of the Pradhan Mantri Awas Yojna (Urban), the ministry on November 29 asked states and Union territories to implement necessary land reforms to make sure that recipients have a legal land document, and put in place a single-window time-bound clearance system for plan approvals and construction permissions.

It has also requested states to organize a land databank to make sure the availability of land for affordable housing.
The ministry further added “States and Union territories may meet their state’s policies with new 8 PPP models and utilize suitably to promote affordable housing,”

While asking states to provide incentives like transferable development rights (TDR) and additional floor area ratio (FAR) to make the ISSR projects feasible, the ministry also asked the states to offer rental accommodation to the slum dwellers while relocating them in ISSR projects.

It has also instructed states to share their individual roadmap with respect to slum redevelopment projects under ISSR.
To encourage its flagship Credit Linked Subsidy Scheme (CLSS), the government has asked states to aim Anganwadi workers, teachers, state police departments, Paramilitary forces, etc.

The proposals were extracted from a day-long National Workshop on Accelerating Implementation of Urban Missions: Swachh Bharat mission (Urban) and PMAY (Urban) that was conducted here in the month of November.

The government launched its flagship ‘Housing for All by 2022′ scheme on June 25, 2015, which is divided into two schemes namely PMAY (Rural) and PMAY (Urban). It has so far approved 30.81 lakh houses under PMAY (Urban), in which around 15.65 lakh houses have been grounded and are at various phases of construction and about 4.13 lakh houses have been built since the launch of the scheme.

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Buying property Real Estate Real Estate News Smart Residential Living

Real estate market trend 2018

Dec 1,2017 / By / No Comment

Author –Mr.Vineet Goyal, Joint Managing Director,Kohinoor Group Pune

Indian real estate has seen a historical trend in 2017, which started with demonetization and then picked up with RERA (Real Estate Regulation Authority) and then GST (Goods and services tax) was the next step. The sector saw renaissance with absolute transparency, ease of transaction and confidence of buyers in the realty sector. What 2017 has given to real estate will not only have long-lasting effect in this sector but in the Indian economy as well. The year ahead will have many positive changes.

Increase in (FDI)Foreign Direct Investment

India has become one of the fastest growing investment destination for foreign investors , one of the reasons is the increase in the real estate and infrastructure investment. According to the World Bank, private investments in India are expected to grow by 8.8% in 2018-19.Indian real estate will see further increase in the global capital flow.

Due to the transparency brought in by RERA , NRIs will find Indian Real Estate market reliable and hence next year will see an increase in NRI homebuyers.

Demographic dividend will benefit real estate

Indian real estate will reap the dividends of its demographic potential. While more and more young men and women will join the workforce even aging workforce population will generate housing business. This will increase the overall demand for the residential and commercial spaces.

Real estate will contribute to the Sustainable Development Goals (SDGs)

The government has launched several ambitious programmes to implement SDG agenda. One such programme is Housing for all by 2022 which is providing direct financial assistance to the poor households. Affordable housing segment will see an upsurge in 2018 and the developers will consciously contribute towards the mission of Housing for all by 2022.Residential projects launches will be more focused on the affordable housing segment.

Smart City initiative

Real estate will play a vital role in Government’s Smart City initiative by developing the social and economic infrastructure of any smart city.The requirement for commercial space will go up due to improved infrastructure and connectivity. The development of smart cities will also push the demand from other asset classes such as serviced hostels, hotels and shopping malls. New job opportunities will be created which will push up the economic growth of the city.

Space Management

Fast growing cities will attract more and more people due to which cost of urban real estate per square metre will increase. With the increase in the competition for the space, the developers will become more innovative in terms of designing and building abodes .Apartments will be smaller but will be space efficient.

Digital presence will be more

Technology is influencing the buying behaviour and it is very evident in the home buying process. Homebuyers and home sellers will be using online platform more. Real estate firm will partner with major search engines and portals for the mutual benefit.

Consolidation in the realty sector will gain momentum

With the implementation of triple reform Demonetization, RERA and GST ,the real estate market has become transparent and the home buyer’s confidence has increased. The realty sector which is crowded now will become leaner and meaner. Smaller players will be bought by the bigger better organised players. Smaller players will not be able to comply with the rules of RERA and hence they will merge with the established players.

High energy prices, climate change and government regulation are already pushing “Sustainability” up the real estate agenda, but by 2018, their impact will be far greater. The real estate community will take a greater role in driving the financial ecosystem.

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