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The construction and architecture industry in India, just like other sectors, has been adversely affected due to the economic slowdown that we are currently facing. But “I believe the pandemic does have a silver lining to it as it will force many construction and architectural firms in India to prioritise automation and digitalisation sooner than we expected. The construction industry, which has been known as a labour-intensive industry is shifting its focus to digitalisation, which will prompt companies to explore new ways of automating their processes across all stages – be it design, construction or operation of buildings.” shared Raj Manek, Executive Director and Board Member, Messe Frankfurt Asia Holdings Ltd. According to a recent report, 66 per cent of construction companies in India are prioritising digital transformation. However, digital maturity in the construction space in India is less as compared to other countries. The current challenges like lack of labour force, rest

Mumbai, August 2020 : Drawing attention to the stagnation of the real estate sector in the country, Shri Manoj Kotak, MP from Mumbai North East, has written to the Finance Minister Nirmala Sitharaman, requesting assistance to unlock the true potential of this sector. In his letter to the country’s finance minister, he has highlighted the issue of an increasing number of residential real estate properties that are lying in a deadlock and how they can be used to fuel industrial growth. Shri Manoj Kotak has proposed that if sale proceeds from these residential properties are made exempt from long-term capital gains tax, then they can be reinvested in industrial capital. Exempting residential property sale proceeds from long-term capital gains tax, applicable for reinvestment of proceeds in industrial capital, would require an amendment to u/s 54GB of the Income Tax Act. Such a proposal would ensure that the country’s industrial and commercial sector gets a much-needed shot in the arm. It

Keystone Solutions, a fully integrated turnkey contracting firm led by Gautam Kumar and Sanjay Dabra, successfully completed its projects for Select CITYWALK, the most renowned shopping mall in New Delhi and ZOBET – a gastro-pub in Kolkata. Keystone Solutions is a versatile firm that has delivered close to 50 projects in the field of hospitality and retail in the past five years. ZOBET In the capacity of the turnkey contractors for ZOBET, Keystone Solutions has offered solutions for civil projects, interiors, plumbing, electrical and furniture. ZOBET has been designed by ace interior stylist Sumessh Menon from Mumbai and inspired by the art deco soul of Kolkata; this gastro-pub catches the fancy by dint of the generous infusion of plush, modern materials and a vibrant colour palette. The 7,500+ square-feet area pegs it as one of the largest all-day gastro-pubs in Kolkata. The highlight of the Moroccan-themed interiors is a 35 feet-long trendy bar and three spacious PDR’s, two 40 seater

Gujrat will reach the new possibilities of the high sky, as the state government has allowed building 70 floors building. Gujarat chief minister Vijay Rupani has approved construction of the building of 70 floors or more in five major cities, Ahmedabad, Surat, Vadodara, Rajkot, and Gandhinagar.”We want to create world-class infrastructure and skyscrapers in five megacities that include Ahmedabad, Gandhinagar, Vadodara, Surat and Rajkot. This decision will not only take Gujarat’s skyline to a record high. It will also show the state’s mettle in terms of its infrastructure capacity. Urban infrastructure will be able to accommodate the rising population and generate more employment for the dwellers,” said Rupani. He also stated that the amendment will be applicable in the D1 category in Ahmedabad Urban Development Authority (AUDA), Surat (SUDA), Vadodara (VUDA), Rajkot (RUDA), and Gandhinagar (GUDA), where permissible Base FSI is equal to or more than 1.2. The new rules will permit the

New Delhi, August, 2020: Propelled by a large population, a rapid & consistent rise in urbanization & a boom in the middle-income households with higher disposable income, there is a large aggregate demand for real estate properties. In addition, other macroeconomic factors such as a reduction in home loan rates, correction in the value of rupee, attractive payment plans by developers to lure homebuyers & flight towards more income-generating hard assets such as Real estate are further driving the market infusing it with a strong momentum. However, an Achilles’ heels of Indian Real Estate is that it still remains highly unorganized with a large number of transactions taking place through individual brokers alongside small & mid-sized enterprises. Although small brokers have a strong footing in their local markets, their unstructured nature, institutional support deficiency & poor technological infrastructure is inhibiting their profitability. In a post-COVID world

COVID-19 prompts govt. to shift gears on flagship ‘Housing for All by 2022’ and usher in affordable rental housing complexes (ARHCs) Absence of affordable rental housing in top cities caused a mass exodus of migrants during lockdown; ARHCs aims to make cities future-ready during such exigencies Monthly rentals for homes under ARHCs likely to be fixed between INR 1,000 to INR 3,000 PMAY (U) makes swift progress in 5 years since implementation; over 105.3 lakh homes already sanctioned till date; Max. homes (20.16 lakh) sanctioned in Andhra Pradesh, followed by ~15.95 lakh in Uttar Pradesh & 12.34 lakh in Maharashtra 54,153 real estate projects & 41,583 agents registered under RERA so far Anuj Puri, Chairman – ANAROCK Property Consultants As India completes 73 years of independence, a new real(i)ty has dawned on India's major cities. COVID-19 has highlighted the urgent need for affordable housing – rental or buy – across the country's cities where most migrant workers co

Ar. Nayan Raheja of Raheja Developers Ltd. has been named amongst the ’40 Under 40 Most Influential Indians 2019-20′ by AsiaOne Magazine. The award winners were virtually felicitated and the programme was telecasted on the leading news channel CNBC TV18, being their media partners. The official cere mony for the same will be held on 21st September, 2020 at Taj Palace Hotel, New Delhi with due preventive measures and precautions. Ar. Nayan Raheja, Raheja Developers Upon receiving the award, Ar. Nayan Raheja, Raheja Developers, said, “I am extremely thrilled and honored to receive the recognition. The fact that the jury consisted of some of the most respected names only adds to the value of this honor. The recognition also motivates us to fulfil the dreams of home-buyers and it will be our endeavour to continue delivering iconic projects that reflect the futuristic vision Indian real estate industry beholds.” AsiaOne 40 under 40 Most Influential Indians 2019-20 is a prestigious annual s

Though the outbreak of coronavirus has taken its toll on the real estate sector too, accentuating the current period of slowdown, realty major Ace Group has reiterated its promise to deliver all its projects on time and as per the commitments made with its customers as well as RERA authority. Ace Group has informed construction in all its projects is going on in full swing and that it’s also tracking the progress of construction on a daily basis. Ace Parkway Precisely, Ace Group has stated that it has geared up to deliver Ace Parkway project in Noida well on time notwithstanding the constraints imposed by the pandemic. Ace Group has made it clear that it will not avail any extension of timeline which are permissible under the present circumstances. Despite the labour shortage due to the current situation, the realty major is all set to complete construction of Ace Parkway project and handover the possession as per schedule. While the unprecedented lockdown had thrown a spanner in the o

Increasing population and government push towards affordable housing to drive India home loan market during forecast period According to TechSci Research report, “ India Home Loan Market By Customer Type, By Loan Type, By Type, By Source, By Bank Type, By Interest Rate, By Tenure, By Area of Property, By Mode of Purchase, By Customer Profile, By Region, Competition, Forecast & Opportunities, 2026 ” , home loan market in India is projected to grow at a CAGR of more than 22% through 2026 on account of increasing population, rising urbanization and affordable mortgage rates. Generally, people seek home loan for extension, renovation, repair or buying a house. Moreover, owing to growing employment opportunities in tier 1 cities, more and more people are shifting to these cities, which is anticipated to drive India home loan market through 2026. Browse 45 market data Figures spread through 75 Pages and an in-depth TOC o In India, bank and housing finance companies (HFCs) are the pref

Manoj Gaur, MD, Gaurs Group and Chairman, Affordable Housing Committee, CREDAI (National) “Real estate sector needs hand holding at this point in time. Though unchanged repo rate is understandable the need to have special measures in place cannot be denied. The buyers are coming back to the sector after realizing the importance of real estate asset backed by historically low EMIs, the developers too need some interventions that can help them expedite the process of development”. Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and Proptiger.com “As the economy is still to recover to pre-covid levels and the risk to aggregate demand in the near future remains high, it is important that the transmission of past rate cuts are more effectively passed on to consumers as well as industry. However, It is indeed heartening to hear that the average lending rates have fallen by close to 90 bps since March 2020. Additionally, the liquidity in the banking system seems to be at comfortable leve

Karnal, a city in Haryana, also known as the rice bowl of India, is expected to go live as a smart city soon, as various smart city projects – including the Integrated Command and Control Centre (ICCC) is fast Progressing. Karnal Smart City Limited (KSCL) is setting up ICCC on a war footing to make it operational by November, 2020. Site Inspection by CEO of Karnal Smart City ICCC is the core component of the smart city project. It will serve as the backbone for various smart city initiatives and will provide storage for all online data related to smart city applications. As the nerve centre, ICCC will play a key role in helping Karnal smart city improve the quality of urban services. KSCL is also implementing Adaptive Traffic Control System (ATCS) to automatically adjust traffic signal timings based on the traffic demand at the intersections and anticipated arrivals from adjacent intersections, in more than 50 locations across Karnal. KSCL is installing 472 CCTV cameras and traffic lig

Hyderabad, August 2020 : Leading real estate developer, Akshaya Pvt Ltd, regarded highly for its quality, innovation, transparency & ethical business practices, has today announced the launch of a comprehensive medical insurance scheme that also covers COVID-19 for its new customers. It is a first-of-its kind initiative by a real estate developer. Post COVID-19, homebuyers across India want a safe and secure home to protect their family for years together, while also looking for some kind of immediate financial protection for their family from COVID-19. There is also a recent shift in consumer behaviour with regard to buying homes, which is that COVID-19 has made homebuyers explore and purchase homes in gated communities that provide 24×7 security, housekeeping and maintenance, and also a home that meets their work-from-home needs. The insurance scheme will be valid for a period of 3 years for which Akshaya will pay the premium amount for all the 3 years upfront. It will cover a

Site visits to conversion ratio increased – serious buyers outnumber 'window shoppers'; Hyderabad sees avg. >15% conversions against 8% pre-COVID-19 Homes priced INR 40 Lakh – INR 1.25 Cr in highest demand Bengaluru, Gurgaon, Hyderabad, Kolkata & Noida see increased enquiries for 3/4BHKs; MMR buyers upgrading from 1 BHK to 2 BHK Ready-to-move homes dominate buyer preference, but MMR still sees good traction in under-construction homes with 6-12 months delivery timelines; Pune still prefers newly-launched projects Almost 80% of housing deals during the pandemic struck by end-users Employees from IT/ITeS, pharma, manufacturing industries & Govt. employees currently driving housing demand India's residential real estate segment is witnessing a decisive return of serious enquiries, which are now at 50% of pre-COVID-19 levels in the top cities. Recovery is fastest in Bengaluru, where current enquiries have reached 70% of the January-February period, followed by Gurugr

August,2020: Bengaluru based S Cube Ergonomics Pvt. Ltd, the authorized India Distribution partner of Humanscale, has announced the national launch of its Plug & Play Ergonomic Home Office Set-up. This ‘Work from Home (WFH) Executive Package’ from Humanscale consisting of an Ergonomic Task Chair, Height Adjustable Desk, Monitor Arm, Docking Station, Keyboard Tray and a Cable Management system, is a complete workstation providing ergonomic support and comfort while working from home. One just has to Connect to Power socket and connect their Laptop to the Dock cable, and voila, it's ready to use and can be positioned anywhere in the house. New York headquartered Humanscale is the leading global designer and manufacturer of high-performance ergonomic products that improve the health and comfort of work life. Working from home, which has now become the new normal for most, can be extremely stressful and rotating between the bed/sofa/dining chair and the floor is potentially bad f

August, 2020 London, UK – The Knight Frank Global Buyer Survey released today analyses the impact that the Covid-19 pandemic has had on property markets and, in particular, on residential buyers’ attitudes around the world. The survey, representing the views of over 700 clients across 44 countries highlights that: · The UK, Spain and France, are the top three locations for those considering a move abroad post-Covid-19 · Improved access to quality of healthcare is now the second most important motive behind a property purchase · Buyers expect property prices to decline over the next 12 months, although 53% of respondents say their budget has remained the same or increased since the start of the crisis · Over a quarter of respondents say they are more likely to buy a second home as a result of the pandemic · Over half of respondents have either travelled abroad already or will do so within three months of borders reopening Kate Everett-Allen, Knight Frank’s head of international residen

· 67% believe that buying a house is a necessity · 91% respondents reinstate the importance of home ownership Mumbai,July 2020: Economic uncertainty and rising stock market volatility is positioning real estate as the preferred asset class for investments in India with over 50% of consumers considering buying a new home in the next six months , says JLL, India’s largest real estate consultancy firm. According to JLL’s Homebuyer Preference Survey , 91% respondents wanted to buy a home when asked to choose between buying and renting. Additionally, 67% believed that buying a home is a necessity, not a luxury. The evolving COVID-19 pandemic will also influence short-term decision making with job security cited as the biggest concern when contemplating the purchase of a home, respondents say. The survey uncovered that a greater proportion of people in the age group of 20-35 years were likely to defer their home purchase plans by more than six months. Polled consumers above 35 years indi

Pratyush Pandey – Warehousing, Industrial & Logistics, ANAROCK Property Consultants COVID-19 has changed the course of Indian real estate in many ways. While regular commercial real estate is under pressure, there are new opportunities for some emerging sectors in India. In the post-pandemic world, the self-storage segment is a direct beneficiary of an otherwise disrupted real estate marketplace. What is, and who does it? Self-storage facilities are warehousing spaces where household and office furniture and equipment, as well as automobiles, can be stored safely for both short and extended periods, at reasonable rentals. Presently, the prominent self-storage players operating in India include Your Space, Safe Storage, Self Storage, Storagians, StowNest Storage, and Orange Self-storage, among others. With many firms having extended the work-from-home option, an increasing number of working professionals in cities like Bengaluru, Mumbai, Pune, Hyderabad, Gurugram and Noida have r

Mumbai, July, 2020: Dosti Realty, a leading real estate group announces a new brand identity, by unveiling its new logo. In order to remain relevant, it is important for companies to evolve and the new logo completely reflects the corporate brand of the current millennial, its heritage, and the ability to imbibe a forward-thinking mindset. Dosti Realty has been in the real estate business for over 3 decades and delivered more than 117 properties to date, providing homes to over 8,600+ families for over 42,700 residents. Encompassing a portfolio of having delivered 10 mn. sq. ft. and currently constructing around 6 mn. sq. ft. across Mumbai and Thane , the company has vast experience in various development types, be it Residential, Retail, Commercial, Educational, and IT Park to name a few. Over the years, the brand has been revered for aesthetics, innovation, quality, timely delivery, trust and transparency, values that have built lasting relationships. To mark the momentous occasion