real estate measurements

8/7/2019 real estate measurements

http://slidepdf.com/reader/full/real-estate-measurements 1/22

Rooms With Sloped Ceilings

Such as the loft found in an A-Frame home. If you measure room dimensions where thesloped walls meet the floor, you are including space that isn't truly usable.

Include only the portion of the room where ceiling height is at least five feet. To be included

at all, a minimum of one half of the finished area of the room must have ceilings at leastseven feet high.

Squares and Rectangles

Multiply length times width to find the number of square feet in a square or rectangular room.Remember to calculate unfinished areas and deduct them from the total.

To calculate the area of a triangle, multiply its base length by its height and divide that figureby two.



How to Determine the Number of Acres in a Square or Rectangular Shaped Property

Multiply length x width then divide by 43,560 (number of square feet in one acre of land).

Example: If you have a rectangular property that is 660 feet wide by 1320 feet long, then youwould multiply the length (1320 feet) times the width (660 feet) to calculate the total number

of square feet in the property. Then to determine the amount of acreage, just divide that

number by the number of square feet in an acre, which is 43,560. You get 20 acres in a

property that is 660' x 1320'.

Here is the basic answer...

660 feet x 1320 feet = 871,200 square feet

871,200 square feet divided by 43,560 square feet = 20 acres

So, a property that is 660' x 1320' is 20 acres

One section equals one square mile and that equals 640 acres.Land Conversion is the procedure through which landed property is converted from one unitof measurement into another. For example, acres, Chains, Furlongs can be expressed in termsof hectares, square feet, square arpents, perches, Kilometers etc. Indiahousing offersinformation on Land Conversion.



Landscaping refers to any activity that modifies the visible features of an area of land. Interms of accruing to a possible estimation of the varied implications of the word, here's

Indiahousing offering information on Land Scaping. It includes living rudiments (flora andfauna), natural elements, terrain shape and elevation, or water bodies, and abstract and human

elements. The last mentioned comprises housing, fences and boundaries - all of which we'reconcerned with in this site.

1 Hectare = 2.5 Acres 1 Acre = 40 Gunthas 1 Guntha = 121 sq.yards = 101.17 sq.metres 1 Guntha = 33

ft. x 33 ft. = 1089 sq.feet 1 Acre = 4840 sq.yards 1 Acre = 4067.23 sq.metres 1 Acre = 43,560 sq.feet 1

sq. yard = 0.8361 sq.metre 1 sq. metre = 1.190 sq.yards 1 sq. yard = 9 sq. feet 1 sq. metre = 10.76

sq.feet

Realty firm Ansal Properties and Infrastructure (Ansal API) is all set to invest around Rs4,500 crore to develop the second phase of its 2,500 acre hi-tech city adjacent to Greater Noida. According to reliable sources, the real estate firm will soon announced launch of thesecond phase of its integrated township µMegapolis¶ at Dadri covering an area of 650 acre.Here, the real estate firm would offer 1,900 plots and build around nine million sq ft each of

commercial and housing space. The project cost for the second phase is estimated to bearound Rs 4,500 crore. In the year 2008, Ansal API bagged a hi-tech city project from thegovernment of Uttar Pradesh. This hi-tech city would consist of a medi-city, one 18-holesignature golf course designed by Nick Faldo and an education city, apart from equestrianand polo facilities. The real estate company will construct four hotels in three and five star categories, consisting about 250 rooms in each hotel. Moreover, it will also abode fiveshopping malls.

09.25.10

The well-known Emami Group of Companies, with core competence in healthcare and

personal consumer products and FMCG.The thrust will be on the residential segment.´ current market capital of Rs 7,000 crore ± is scaling up its pan. we are doing a Rs 2,000-crore, 1 million-sq ft condo complex inMumbai and high-end residential projects inHyderabad and Coimbatore

09.18.10

In the recent years, sale of high-end luxury homes in big cities has hit an all time lowforcing real estate developers to target small towns and cities. Godrej Properties Ltd.launched a high-end residential luxury project in August this year, each of its 245 apartmentspriced at Rs.80 lakh to Rs.1 crore. Raheja Universal Ltd is also constructing a sea-facing

property inM

angalore within a same price bracket. And Raheja Waterfront and GodrejAvalon are among half a dozen of luxury housing projects coming up in the coastal cities of India. Real estate developers are testing luxury housing projects in small towns and cities assales of high-end luxury homes in big cities likeMumbai and New Delhi have hit a low thisyear, mainly because of hike in prices and low appetite. The average cost per apartment inMumbai and Greater Mumbai is Rs.2 crore, and about Rs.1.97 crore in Gurgaon, a primeDelhi suburb



Latest housing projects in Mumbai have emerged as the only solace for the thousands of people

living somehow in the city. Any other means to get a home within the territory is simply out of the

question for a majority of them because of the enormous capital values of prime properties in the

city. The whopping appreciation in the market values of real estate in Mumbai has made some

areas costlier than even New York and London! Hence, It is the cheaper options being brought by

the latest housing projects from time to time that are keeping the hope of owning individual homesalive for a major section of the population. Thus the execution of a housing project in Mumbai is

waited passionately and is received wholeheartedly.

Since the latest housing projects are planned taking into account the needs and income levels of the

various social sections, it has become convenient for a resident in the city to find a suitable

accommodation within his/her means. The types of houses, however, vary according to the nature

of the project. While the basic amenities are found universally in all the housing projects, some

special facilities, which have become a symbol of lavish and luxurious lifestyles, are the benchmarks

for the projects targeting at premium category. Hence, the most recent housing projects in Mumbai

are benefiting all the categories of people.

New Residential Projects in Mumbai

y Mahindra Splendour at Bhandup: residential project consisting of 2.5/3 BHK flats

y Yogi Dham III at Kalyan: residential project for flats

y Shikara Estates at Panvel: new residential project consisting of apartments of varying

bedroom combination.

y Zircon - Amethyst: developed by Nirmal lifestyle at Mulund, the residential property offers

a combination of two and three BHK apartments.

Upcoming Residential Projects in Mumbai

y Orbit Grand: A 35 storey residential tower located in Lower Parel and providing a spectrum

of housing solutions in the form of studio apartment and 2/3 bedroom flats.

y Orbit Heaven: This residential tower has 33 stories and is comprised of duplex apartments

and penthouses.

New Housing Projects in Mumbai

y Planet Godrej at Mahalaxmi in South Mumbai: a five-tower skyscraper comprising 48

stories; a variety of housing solutions in the form of 2,3,4 BHK apartments, duplexes and

penthouses will be made available by the builder.

y Godrej Waldorf: This 16-storey residential project will offer luxurious housingaccommodations in the forms 3 BHK apartments, duplexes and a penthouse on the top. It is

located in Andheri.

y Godrej Riverside: It is the latest from Godrej Properties that comprises two towers facing

the picturesque Gandhar river. This upcoming residential project aims at providing plush

housing accommodations in Kalyan.



Builders in IndiaAchievers Builders

Adarsh Developers Alpine Group Ansal

API Ansal Buildwell Ansal Housing Ansal

Plaza Ansals Appaswamy Real Estates

Arun Dev Builders Ashiana Builders

Developers Ashiana Housing BPTP Real

Estate B Raheja Bearys Group Brigade

Group Bangalore Chaitanya Builders

Chennai Confident Group CREDAI D S

Kulkarni DLF Group India Dwarkadhis

Builders Eldeco Infrastructure Group

Emaar MGF Eros Group Future Group

Gaursons GMR Infrastructure Godrej

Properties Goel Ganga Group HDIL HDIL

Issue Hiranandani Real Estate HUDCO

Jaipuria Group Jaypee Group JMD Group

K Raheja Universal Kalpataru Group

Kanakia Group Kolte Patil Developers

Kumar Builders M Tech Developers M2K

Developers Builders Mahagun Builders

Mahindra GESCO Developers MapskoGroup Mont Vert Builder Developers Navin

Housing Oberoi Constructions Omaxe

Group India Panchshil Builders Parsvnath

Builders Piyush Group Prestige Builders



Prestige Homes Purvankara Pushpanjali

Builders Raheja Developers Sahara

Infrastructure Shapoorji Pallonji Shipra

Group Shipra Real Estate Shriram Group

Larsen-and-Toubro Sobha Builders Sobha

Developers Supertech Builders Developers

Tata Housing TDI Constructions TDI

Developers Triveni Infrastructure Group

Unitech Group India Vascon Engineers

Vatika Group Vipul Group

Mumbai Real Estate Market News

Mumbai Real Estate Market News shows some of the biggest names in the realty industry in India.

Mumbai being the trade capital of India and the most desired property destination for the real

estate property hunters has attracted major builders and developers not just in India but also the

foreign collaborators.

Mumbai real estate market lists the maximum number of Real Estate Builders and Developers inIndia. The real estate prices in Mumbai are skyrocketing but still the supply of quality constructions

falls way short of the demand.

Mumbai housing the top MNC's and business conglomerates and also the entertainment and

Bollywood industry witnesses a large number of immigrants everyday. This has led to a never

ceasing demand in the realty sector that is being engulfed by the real estate developments dragon.



Some of the Top Builders in Mumbai namely Hiranandani Constructions, Kalpataru Builders &

Developers, K Raheja Constructions, Shapoorji Pallonji & Co Ltd, Ansal API Builders, D S Kulkarni

Developers, Oberoi Constructions, Vascon Engineering, Panchshil Realty Group, and Godrej

Properties etc are creating huge residential, commercial and industrial projects to fulfill the

demands of the Mumbai Property market.

The Real Estate Market News in Mumbai clearly indicates a market trend of an exceptional increase

in offices and commercial units requirements. The demand of office spaces in Mumbai is primarily

driven by the IT/ITES, finance, telecom, pharmaceutical and insurance sectors.

By the end of 2009-2019, the estimated supply of office units is expected to reach a whopping 23.68

million sq. ft. Out of this around 33% would be contributed from the western sub-urbs of Bandra-

Kurla Complex, Andheri, Goregaon and Malad and 27 % from the central sub-urbs of Kurla, Wadala,Ghatkopar, Thane, Kalyan etc. The office spaces being constructed consist of large built-to-suit office

spaces or SEZ's and also huge office complexes for the large MNC's and corporate houses.

In the residential segments, the Mumbai Real Estate Market records the maximum realty rates in

India in certain areas like Cuffe Parade, Marine Lines, Nariman Point, Malabar Hills, and Nepean Sea

and in South Mumbai and Khar and Santacruz in western sub-urbs. More economical residential

realty options are available in Mahim in South Mumbai, Kalyan and Ambernath in Central Mumbai,

Panvel and Kalamboli in Navi Mumbai and Mira Road, Bhayander, Vasai, Nallaspora and Virar in

western sub-urbs.

Besides these, the Mumbai realty news also gives you the trend and pattern of latest development

and construction projects going on in Mumbai, the residential units being created, the ongoing

property rates, the real estate market trends being followed by the Mumbai Property Dealers, the

rental and leasing prices for Mumbai and options available to the investors and property seekers.

MHADAVersova



Maharashtra Housing & Area Development Authority (MHADA) has been offering decenthousing opportunities inMumbai and its suburbs.MHADA was envisioned to provide fair

housing to Low Income Group (LIG) andMiddle-Income Group (MIG).Accordingly,MHADA has succeeded not only in providing the housing facilities to the target groups, but

also have laid emphasis on value added services like electric supply, water supply,recreational facilities.One of the important hallmarks of MHADA has been to ensure that

undertaken constructions are environmentally friendly. In actual terms,MHADA has madeFlats inMumbai accessible to the common residents with an affordable budget.After elevating the housing conditions of the deprived classes inMumbai, MHADA hasundertaken the development of Houses, flats in plush localities like Versova, Oshiwara etc tocater the housing needs of the high-income group in Maharashtra.Mumbai Real EstateExperts have welcomed this as a departure from the conventional projects that had beenundertaken byMHADA so far inMumbai andMaharashtra as a whole.

It has been noted that despite of the Government's plea, Private housing Companies have notreally made houses that could financially be affordable for the LIG andMIG. However,

MHADA offered a platform to provide decent housing to the LIG and theMIG. Over theyears since its inception in 1977,MHADA has incorporated the changing times to cater to a

wider audience.

Recently,MHADA announced its most expensive housing project ever inMumbai inVersova to be directed at the higher income group. ThisMHADA Versova housing complex

would have all the exquisite value added services and amenities like swanky clubs,swimming pools, recreational centers etc to match the affluent lifestyle. What appears

striking is that though this is the most ambitious projects of MHADA so far, the flatsprovided would be two and three BHKs with the prices that are very much lower than theones commanded by the private Housing Companies.

That would makeMHADA flats command approximately Rs 50 lakhs in glamorousVersova. Property Dealers inMumbai opine that investing inMHADA flats is very judiciousas flats in plush localities are available at affordable rates. One can notice a very commontrend in the Real Estate and the market of Mumbai Properties that people buyMHADA flatsthat available at an excitingly lower rate and then with the services of Interior Decorators, augment the price of the flats, thus enjoy the dividends in the terms of the re-sale value of thehouse.

However, in the eyes of the property consultants, middle class would find these high-endflats out of reach, and the opulent strata would accord preference to the creations of privatebuilders.

Nevertheless, many property and homebuyers in Mumbai have been attracted to this project.M

HADA has undertaken plush constructions in Versova to offer chic and lavishaccommodation at affordable rates so that even middle class can augment their housingconditions. Apart from Versova, MHADA apartments and houses in the adjoining areas like

Sion,Malad, and Goregaon have received a favorable response from homebuyers.

MHADA Lokhandwala



MHADA Lokhandwala has been an important Housing Project for MHADA since it marks adistinct shift from constructing LIG andMIG Flats.MHADAMumbai has undertaken the

construction of plush Flats in Lokhandwala for the High-Income Group. These Flats andHousing are being constructed on the lines of private residential colonies inMumbai, in

terms of excellent amenities, swanky constructions to attract high end and the elite class.Once a marshy area in Andheri, Houses in Lokhandwala are synonymous with chic

ambience and luxurious surroundings.MHADA Lokhandwala is one of the New Projects inwhich the High Income Group has been targeted.

Property Dealers claim that it is profitable to invest inMHADA Flats in localities likeAndheri, Bandra, Versova or MHADA Houses in Lokhandwala. This is so because; theselocalities command exorbitant Housing Prices as far as Homes and Flats by private Buildersare concerned. However, MHADA Lokhandwala or MHADA Versova Houses for thatmatter, offer excellent Homes at affordable rates.

ManyMHADA Homeowners agree with Real Estate Consultants that theseMHADA Flats

in Andheri, Sion, Bandra, Kurla,Mulund provide rich dividends later.

Indiahousing.com offers comprehensive articles that cover the activities of MHADA inMumbai like Lokhandwala, Bandra, Versova etc.

Maharashtra Housing and Areas Development Authority, (MHADA)

Griha Nirman Bhavan,

Bandra (E),

Mumbai - 51

Tel:( 91-22) 6428331-5/6426411-15

Fax:( 91-22) 6402058

Email:[email protected]

Website:http://www.mhada.com/

MHADANew Projects

MHADA New Projects have incorporated efficiency in their attempt to rehabilitate theslums and create housing options to various economic sections. MHADA-MaharashtraHousing & Area Development Authority, was formed under theMHADA Act of 1977 inorder to facilitate Housing, Reconstruction andMaintenance inMumbai andMaharashtra.MHADA New Projects cover Mumbai, Pune, Chandrapur, Solapur and other districts inMaharashtra to make affordable and decent housing possible.MHADA ProjectsinMumbai has undertaken strategic steps by building homes for all the sections .For

instance,MHADA Versova, Lokhandwala and Oshiwara cater to the High Income Groupsections as the HIG Flats in these locations have all the plush amenities and excellentFacilityManagement.

MHADA New Projects in Mumbai

A look at MHADA New Projects makes it clear that slum rehabilitation has been taken very seriously



by MHADA Mumbai as many programs are being implemented in localities like Matunga, Wadala,

Shivdi, Worli, Mazgaon etc. Besides many new projects are being undertaken in Sion, Bandra-Kurla

Complex to cater to the growing commercial space as well as Flats and MHADA housing.

One of the prominent MHADA Projects is the township programs like that of in Bhabrekar Nagar.

Bhabrekar Nagar is located in the Northwestern suburb of Kandivali and MHADA Recent Projectsare aimed to rehabilitate the area and install decent housing and infrastructure.

Indiahousing.com recommends that, in order to avail various MHADA Housing Scheme, it is very

important to be abreast of all the latest MHADA New Projects.

Maharashtra Housing and Areas Development Authority, (MHADA)

Griha Nirman Bhavan,

Bandra (E),

Mumbai - 51

Tel:( 91-22) 6428331-5/6426411-15

Fax:( 91-22) 6402058

Email:[email protected]

Website:http://www.mhada.com/

MHADA Act 1976

MHADA Act 1976 has been instrumental in the formation of MHADA-MaharashtraHousing & Area Development Authority. TheMHADA Act 1976 primarily was the result of

the Housing issues that had began to resurface in an urban situation as inM

umbai that wasquintessentially gripped with migration, commercial activities and scant Housing resources.However, it has to be understood that prior to 1976, almost 4 statutory bodies andorganizations were operational namely theMaharashtra Housing Board ,the VidarbhaHousing Board ,theMumbai Building Repair and Reconstruction Board ,theMaharashtraSlum Improvement Board, that undertook Housing Scheme ,Slum Improvement, Planningand urban Development. However, as these issues are strongly related to one another,eventually the need for consolidated efforts in these directions was strongly felt.

MHADA Act 1976 made the amalgamation of the above mentioned statutory agencies into asingle body to manage the Housing, restructuring and develop scheme and solutions toissues like pollution, ecology, over-crowding etc. Under theMHADA Act 1976,MHADA is

divided intoMumbai Repairs and Reconstruction Board,Mumbai Slum Improvement Boardand Regional Boards that cater to the areas like Nasik, Pune ,Aurangabad, Konkan, Nagpur etc. Thus,MHADA was formed in 1977 under the Act of 1976. Indiahouing.com offers the

link so that more information can be gathered regardingMHADA Act 1976.

Real Estate - Interview FAQ's



Congratulations! You've landed an interview, a tough hurdle in finding a job. It means your resume stood out among countless others. Now comes the nerve-wracking part - the actual

interview. Sure you're jittery. It's natural. But there are steps you can take to minimize thosefeelings by being prepared.

Preparation means anticipating interview questions. Here are some frequently asked

questions. Remember, each question presents an opportunity to sell yourself.

Tell me about yourself?

y Before going in to any interview, prepare a two-minute bio and rehearse it until you're

comfortable.

What are your strengths and weaknesses?

y The interviewer wants to hear how your strengths match the needs of their firm. Have

two or three strengths in mind before an interview. It's best to speak of one or two andoffer examples of how you used them, and how you learned them. Tread lightly onconceit. Turn weaknesses into strengths and tell the interviewer how you are workingto improve this weakness. For example: 'I've gotten a bit rusty in my hands-onproduction skills since becoming manager. Now I spend my time....'

Where do you see yourself in five years?

y Employers are looking for ambition. You don't want to come off as a threat. Instead,say how you'd like to gain a solid foundation of skills for the position you are beingconsidered, so that you are better prepared for other career paths the company willoffer in the future.

Why should I hire you?

y Employers are looking for you to understand the company's needs. State how youthink you can help company growth, solve a problem or add to its strengths.

Why do you want to work here?

y The interviewer is looking for enthusiasm. Convey your interests to key componentsof the job, or being part of an important project. Tell the interviewer you like thecompany's size, aggressive market stance or creative business.



y Now that the interviewer has concluded with his/her questions, you can breathe again.Don't exhale yet. It's your turn to ask the questions. What, no questions? If you don't

have any questions, the interviewer will likely be left with these impressions of you:o You're not really interested in the position or the organization.

o You're so lazy you couldn't be bothered to put any thought into it.o

You're so desperate you'll go anywhere.

y This is another opportunity to 'sell' yourself. Prepare a few questions ahead of time.Always be positive. Questions asked should focus on gaining more information aboutthe job, such as who held the position prior, or how many people report to the boss?

Example Questions

y What projects will I be involved with in the first few months?y How does your company stand apart from its competition?y How do you see the future of this industry?y I noticed in your annual report that your firm has made several acquisitions. Will this

aggressive business stance continue?

And last but certainly not least: Good luck and don't forget to say thank you in a note.

FDI in Real Estate

Real estate industry, in India, is growing at a whopping rate of 30% for last few years.

According to the survey by FICCI, the magnitude of real estate industry in India is of US$ 12

billion. The double digit growth of this industry is primarily ascribed to the BPOs, Call

centers, Retail industry and other IT industries. In India, 80% of the real estate developed is

residential areas and rest 20% includes office spaces, shopping complexes, hotels, andhospitals. Policy makers have recently decided to stress on flourishing proper infrastructure

for the country. In this process, they have decided to liberalize the FDI policies to attract

large investments.

In recent time, the progressive economic policy on FDI norms has been the most significant

decisions taken by central government. Prior to it, only NRIs and persons of Indian origin

were allowed to invest in the real estate & housing sectors. Foreign investors were allowed to

invest in integrated townships and settlements only. They were permitted to invest either

through a wholly owned subsidiary or through a joint venture company in India along with a

local partner. The ultimate effect of all these restrictions on foreign investors was the slowrate of expansion of infrastructure.

Rise of Indian Real Estate

Indian Real estate has been on rise from last few years. The total amount of FDI inflow has

been continuously increasing and along with it the percentage of FDI in real estate sector is

also increasing. The total FDI has manifolded almost four times, from US$ 2.70 billion to

about US$ 8 billion, during the financial period of 2003-07. This sudden boost in real estate



FDI is mainly due to the progressive government norms. Here is the tabular form of the data

of total FDI in India and the percentage of real estate sectors in FDI.

Financial Year Total FDI InflowReal Estate Percentage

in Total FDI

2003-04 US$ 2.7 billion 4.5%

2004-05 US$ 3.75 billion 10.6%

2005-06 US$ 5.46 billion 16%

2006-07 US$ 8 billion 26.5%

Advantages of FDI

y The biggest advantage of FDI in the real estate sector would be towards making thissector organized.

y

Arrival of major investors will help in increasing professionalism.

y A healthy and competitive market environment will be created for domestic as well as

foreign investors.

y With the entrance of foreign investors, it will be easier to use the latest and superior

technology which will definitely help in increasing the quality in real estate.

y FDI Investment Policies

Foreign direct investment (FDI) is not mere investment by the foreign companies in differentsectors of a country rather it is now considered as an integral part of national developmentschemes for all the countries. The direct effect of FDI on a country's economy is pronounced

by the growing output in augmenting of domestic capital, productivity and increasedemployment. The global popularity of FDI has made it an essential tool for initiatingeconomic growth for nations.

FDI in India India is emerging as one of the most likely places for FDI in Asia and the Pacific region.According to a global survey conducted by a renowned agency, India is the most favoreddestination for FDI in the world only next to China. India attracted more than three timesforeign investment against US during the first half of 2005-06 fiscal.

India has been one of the most progressive & transparent Foreign Direct Investment (FDI)governments among developing countries. FDI played a major role in contributing to the

overall growth of the economy of India in the recent years. The liberal decisions taken bygovernment on FDI issues has opened the gates for the foreign investors. The real estatesector is hugely affected by these policies as this sector is flooded by the investors from allparts of the globe.

FDI Policies in Real Estate The FDI policies have opened a gate for investors in real estate sector, which saw flooding of investors from all the parts of world. The policies mainly emphasize on giving exemptions incertain fields. We will take a look on the major changes in FDI in real estate sector.



y For different projects the minimum area to be developed will vary as follows:o A minimum of 10 hectares of land in case of development of serviced housing

plots.o A minimum of 50,000 sq. mts in case of construction development projects.

o Either of two conditions defined above would satisfy in case of combination of the above two projects.

y The minimum amount to be invested will be different for wholly owned subsidiarycompanies and for joint ventures with Indian partner/s. The capital would have to bemanaged within 6 months of beginning of business of the company.

o A minimum of US$ 10 million will be required for a wholly owned subsidiary.o A minimum of US$ 5 million for joint ventures with Indian partner/s.

y The investors aren't allowed to repatriate the original investment prior to a period of

three years. Though they may be allowed to exit earlier with prior approval of thegovernment through the FIPB.

y The companies would have to complete the development of at least 50% of the entireproject within five years from the date of receiving all legal clearances.

y They would not be allowed to sell under constructed plots where conveniences likeroads, water supply, street lighting, drainage, and sewerage aren't provided asprescribed regulations. They would have to provide these infrastructure and receivethe completion certificate from the concerned local body/service agency. Then theywould be allowed to dispose the serviced housing plots.

y The investor shall be responsible for getting the essential approvals prescribed under applicable rules/bye-laws/regulations of the State Government/Municipal Body/ Local

Body concerned.o Building/ layout plans

o Developing internal and peripheral areas and other infrastructure facilitieso Payment of development, external development and other charges.

y Preferred Indian Destinations

ndia is the favorite investor's hub for the IT, ITES, and BPO sector. Along with it theancillary industries like hotels, transport, insurance, banking, catering etc are on a roll. Theretail market in India is expanding at an unexpected rate. The above mentioned sectors areattracting huge amount of investment from the domestic developers as well as from foreigninvestors. As a result these industries require large amount of land space in top cities of Indiato establish their businesses. Due to it, the growth of real estate market in top Indian cities ison boom.

Apart from the contribution from these established and well defined sectors, the liberalizedFDI policies of the government have opened gates for investments in several other sectors.Sectors like retail, hospitality, telecom services, development of new airports, power trading,



laying of natural gas pipelines, petroleum infrastructure and warehousing of coffee andrubber are favored sectors for investment.

Classification of Cities on Realty Values Almost 70-80% of the commercial real estate space is occupied by the above defined sectors.Due to the large absorption by these industries defined above, the total commercial space

absorption in India has gone up to almost 15 million sq ft in 2004 from 8-9 million sq ft a fewyears ago.

Indian cities are classified as Tier I, Tier II and Tier III in the terms of IT and real estateservices

y Tier I cities are those cities which are most favored by the investors. These cities areestablished as the IT hot spots and consume 60% of the total real estate space.

y Tier II cities are those which saw significant IT activity and rapid growth in real estatein the last few years.

y Tier III cities are trying to emerge as IT destinations.

The growth of IT/BPO sector is likely to continue in the near 8 to 10 years in India. The real

estate investors from India and abroad are establishing operational bases in the Tier I and Tier

II cities. These companies are searching options in tier II and III cities to fulfill the widening

gap between the demand and supply of residential and commercial properties in India.

Indian Realty Destinations

The primary investments in the corporate sectors are focused in the premier cities of India

like Delhi,Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, Gurgaon, Chandigarh, Pune

etc. These cities are most favored for establishing IT firms, BPOs, Retail firms and other real

estate developments. The last few years has seen ample growth in real estate development.

The realty prices in these cities have also heightened in recent time.

Investors like to invest at those places where there is a planned outlay of city and proper

infrastructure. Delhi,Mumbai and Bangalore have been the obvious choice for the investors

for real estate investment. According to the estimation by industrial sources, by the end of

2008 the top eight Indian cities will require around 66 million sq ft of new retail space

through more than 200 proposed retail centers.

Delhi and NCR

Delhi and NCR are the most preferred destinations for the real investors in India. The basic

infrastructure and the standard of life provided are the main reasons for huge investment in

the IT and BPO sectors. According to a global market rents survey, Connaught place, the

heart of Delhi, is the seventh most expensive office centers in the world. The survey

conducted by real estate consultant CB Richard Ellis, reveals that Delhi is ranked second

among all the cities of world, with year-over-year rent growth of 79%.



A number of major Indian as well as foreign investors are currently running a number of

projects in Delhi and NCR.Main Indian investors include DLF, Unitech, Omaxe, Ansal,

Vatika, Ashiana etc. The foreign groups like Goldman Sachs,Morgan Stanley, Blackstone

group, JPMorgan etc. are running their projects in joint venture with Indian companies. The

emergence of Noida and Gurgaon as the hot properties have provided several options for the

investors.

Noida

Noida is turning into a major IT hub of the country. The city has groomed extremely fine

under well-defined master plan, superb infrastructure and good connectivity to Delhi. It is

rapidly changing into an investor's paradise both in the residential and commercial sector.

Above all the government's policies to invite investments has changed over Noida into the

ultimate destination for investors.

Gurgaon

Gurgaon has been among the favorite destinations for the investors in India for the last four

or five years. The biggest corporate offices and MNCs are working from here and others are

keen to open their offices. The infrastructure here is excellent and is close to Delhi.

Mumbai

Mumbai has been the financial & commercial capital of India since a long time. The real

estate prices in the city are at on a roll. According to a global market rent survey, Nariman

Point inMumbai is the fifth most expensive office centers in the world. There has been a

large number of real estate investments in the retail and residential sectors in Mumbai. The

growth of the IT and ITES sector is reflected in the real estate boom in the satellite city of

NaviMumbai.

Pune

Pune has emerged as one of the major IT, research and academic destination of India. IT and

retail are the key sectors of real estate in Pune that are prime factors responsible for its

transition from a solemn industrial city to a vibrant corporate city. Its close proximity to

Mumbai has made it a favorite spot for real estate investors.

The IT revolution in Pune has made it one of the most likely IT/ITES and BPO investment

destinations. Pune is attracting major investments in the residential sector. Top real investors

and developers are making most of this opportunity and are currently running several

township projects. A large number of foreign investors have entered into Pune through jointventures with Indian companies.

Bangalore

Bangalore is one of Asia's fastest growing cities with an annual growth rate of 3.5%. Over the

years, it has transformed itself from 'garden city of India' to 'Silicon Valley' of India. It is

evolving into a major Research and Development center. The city is riding on a IT boom and

is attracting huge property investments. The city has maximum number of software



companies in India and it accounts for more than 35% of software exports of India.

The infrastructure available is perfect and the standard of life is high class. All these factors

are attracting real estate investors to cash on into the demand for residential and commercial

properties in the city. As more number of companies are in the queue to open their offices in

Bangalore, the investment in real estate sector is likely to increase in near future.

Chennai

The transformation of Chennai from 'the automobile capital of India' to an important IT and

ITES hub in the recent years is just an example of the emergence of unlikely cities as the

most likely destinations in IT sector. BiggestMNCs and other giants of IT and retail sector

have chosen Chennai as their operational base. It is a boost in real estate in true sense as IT

companies are the major occupants of commercial spaces.

The infrastructure provided in Chennai is good and well-developed. The areas nearer to the

IT/ITES hubs have emerged as localities with major demand for residential development.

Velachery,Madipakkam and Tambaram are just a few names.

Top Realty Investors in India

ndia is among those developing countries whose annual growth rate is constantly going over 8% for last few years. In the recent years, India has been one of the most sought after

destination for the real estate investors. Investors from all over the world are looking towardsIndia to invest in different sectors of real estate. The big bosses of real estate investment

sector are either grasping the projects on their own or they are combining with small or medium class companies to run huge projects. The biggestMNCs have already established

their business in major cities of India and some new companies are in row to start their business as quick as possible. The booming economy of India and liberalized government

policies are responsible for sudden large investments in real estate sector.

India Realty Market Size According to a survey by FICCI, the Indian real estate market is estimated to be of $12bn,with an ample growth rate of 30% annually. It is estimated that in the next 8 to 10 years, theIndian realty sector is likely to grow from US$ 15 billion to US$ 90 billion. According toindustry sources, in 2007 realty equity deals worth $30 billion are in the process across allAsian markets. The Indian real estate market will have about one-fifth share of thisinvestment. With $6 billion, India is behind Japan and China who are estimated to collect $9-10 and $6-7 billion respectively.

There are over 42 million sq. ft. of high quality retail space developed and under development in metros and other urban cities across the country. The top global investors likeMorgan Stanley, Carlyle, Trikona, Blackstone, and Warbus Pincus are planning to invest a

total of US$ 12-15 billion in coming years.

Major Investments and Joint Ventures Some of the major real estate business houses who are keen on ample investments are the



Philippines based Ayala & Signature group, Dubai based Och-Ziff Capital, EurIndia & OldLane. These are only few names to mention. Investors from other regions like US, UK, Israel,

Malaysia, Singapore etc want to be a part of the real estate story of India. These are somemajor joint ventures which the foreigner companies have established with Indian real estate

companies.

y Goldman Sachs (US-based global investment bank) and Unitech (largest listed Indianreal estate company) have decided to set up a special purpose vehicle (SPV) in thereal estate sector with an investment of US$ 208.7 million.

y DLF Ltd and Nakheel (a large property developer of the UAE) have joined hands for a 50:50 joint venture. The two will develop two integrated townships in India at awhopping investment of US$ 10 billion.

y Zürich based Credit Suisse (world's leading financial house) have finalized a deal toinvest US$ 1 billion in India's real estate sector.

y DLF and Hilton Hotels Corporation (HHC) declared a joint venture to develop around

75 hotels and serviced apartments over 7 years.

y Dawnay Day International (UK based investment company) announced to invest US$1.5 billion in real estate in the next two years.

y Morgan Stanley lately finalized a deal with Oberoi Constructions worth about $150million.

Major Players in Indian Realty Market DLF: The DLF group is India's largest real estate company expanding at a rate exceeding30% annually. The group is working on projects covering areas over 220 million sq. ft. and isexpected to start projects on 574 million sq. ft. in near future. DLF is operating its major

plans and projects in different cities of India including NCR regions, Chennai,Mumbai,Kolkata, Hyderabad, Ahmadabad, Bangalore etc. DLF Joint Ventures are:

y DLF has finalized a joint venture with US-based hospitality major Hilton. In the nextsix-seven years they will build 50 to 75 hotels and serviced apartments in differentcities in India.

y DLF and Fortis Healthcare have signed anMo U for constructing 31 hospitals at aninvestment of Rs 6,200 crore.

y DLF and Nakheel (Dubai based property developer) announced a 50:50 Joint ventureto develop two major townships in India.

y DLF and Prudential International Investment Corporation are planning to set up ajoint venture in the near future for asset management.

Omaxe Omaxe is amongst the large real estate developers in India. They have been building highquality, artistically designed, strategically located residential and commercial spaces for several esteemed Indian private, public sector and Multinational clients.



In a short period of 5 years since establishment in 1987, the company has completed anddelivered 10 projects consisting of 8 residential and 2 commercial covering approx 5.13

million sq. ft of area. Currently the company has 46 projects under development comprising19 housing projects,13 integrated townships,13 shopping malls and commercial complexes

and 1 hotel. In Northern and Central India, company is developing over 140 million sq ft of saleable area across 30 towns in 9 states.

Unitech

Unitech Group is amongst the major township planning and real estate developmentcompanies in India. The business portfolio of this group includes residential propertydevelopments, leisure and entertainment projects, hospitality business and heavyconstruction.

y Unitech group has acquired land properties of over 8,000 acres all over Indiaspreading from Gurgaon to Kolkata, Kochi, Hyderabad and Chennai.

y Unitech group is the foremost amusement park developer in the country with twomajor projects currently running and will probably finish in 2 to 3 years. The two

parks, spread over 200 acres, are situated in Rohini (Delhi) and Noida .

y Unitech group has tied up with hotel major Marriott to enter in the hospitality sector.The two will launch business hotels in Gurgaon, Noida and Kolkata, under the

courtyard brand.

Vatika Group Vatika Group is amongst the fast growing real estate developing companies in India. Thebusiness portfolio includes corporate & residential complexes, resorts, shopping malls, hotelsand restaurants etc.

y Vatika Group build several high-class residential and commercial projects like Vatika

First India Place, Vatika Triangle, Vatika Atrium etc. The group is currently workingon three major commercial properties totaling over 1.5 million square feet.

y Vatika farms, Vatika greens, and Vatika woods created in the fringes of Gurgaon aresome of the trendy communities build by this group.

y This group is developing Vatika Infotech City covering an 800 acres in Jaipur,consisting houses, plots and IT park.

y The Group has joined hands with restaurants Fox and Coriander Leaf to enter in thehospitality sector to build luxury hotels in Jaipur and Bangalore.

Ashiana Group Ashiana Group is one of the leading real estate developers in Northern India. They haveconcentrated only on housing development and build some quality residential projects. Thegroup has undertaken more than 40 lacs sq. ft of construction in residential and commercialsectors.

y Some of their renowned and famous residential projects are Ashiana Villas, AshianaGardens, Ashiana Gulmohar Park, Ashiana Suncity, Ashiana Enclave, and ResidencyGreens.



y Ashiana group's unique project in Bhiwadi, Ashiana Utsav is a unique housingproject, first of its type in India providing a comfortable post-retirement life for retired

citizens.

GRADING OF REAL ESTATE DEVELOPERS AND PROJECTS

ICRAs service of Grading of Real Estate Developers and Projects, by providing an independent

opinion on the relative performance capability of real estate development entities, seeks to serve as

a tool for identifying and managing the risks associated with the entities concerned. For the investor

(buyer of property), the Gradings communicate the risks associated with the developers ability to

deliver in accordance with the terms, quality parameters, and time stipulated. For developers, the

Gradings, by providing a scientific assessment of their abilities and risk profiles, serve to assist them

in presenting their case to lenders.

Grading Scale for Real Estate Developers:

DR1 Very strong project execution capacityDR2 Strong project execution capacity

DR3 Moderate project execution capacity

DR4 Inadequate project execution capacity

DR5 Weak project execution capacity

Note:The suffix of + or - may be used with the grading symbol (from DR2 to DR4) to indicate the

comparative position within the group covered by the symbol.

ICRA Grading Symbols for the Real Estate Projects and their implications are as follows:

RT1 Very strong project

RT2 Strong project

RT3 Moderate project

RT4 Inadequate project

RT5 Weak project

Note: The suffix of + or - may be used with the grading symbol (from RT2 to RT4) to indicate the

comparative position within the group covered by the symbol.

ICRA Grading Symbols for the Consultants and their implications are as follows:

CT1 Very strong project engineering/project management services capacity

CT2 Strong project engineering/project management services capacity

CT3 Moderate project engineering/project management services capacity

CT4 Inadequate project engineering/project management services capacity

CT5 Weak project engineering/project management services capacity

Note: The suffix of + or - may be used with the grading symbols (from CT2 to CT4) to indicate the



comparative position within the Grading category concerned

CONSTRUCTION GRADING

Concept

ICRA¶s service of Grading of Construction Entities is designed to provide lenders and sector

participants with an independent opinion on the quality of the entity Graded. The uniqueGrading methodology developed for the purpose, encompasses all entities in a constructionproject: the contractor, the consultant, the project owner, and the project itself. The service of

Grading, by providing an independent opinion on the quality of the entity Graded, is designedto enhance the lenders¶ confidence in the construction sector participants. Besides, the

Gradings may also benefit the participants by highlighting their competencies and helpingthem stand out in a crowd.

Process

The methodology for the Grading of construction entities entails analysis of all relevant risksunder two broad categories: business risk and financial risk. The assessment processcommences at the request of the entity concerned. Once the mandate letter is received fromthe entity, a team of ICRA analysts takes up the task of preparing a report on that entity,highlighting its business and financial risks. Subsequently, the team prepares a report andpresents it to the Grading Committee for assessment. The whole process is interactive anduses input from sector experts. ICRA ensure strict confidentiality of all information collectedduring the assessment process.

Overview

Investment in housing and property is beset by many uncertainties in the prevailing real estatescenario. The investment and transaction decisions in this sector are characterised by

uncertainties due to low level of information.

NAREDCO's mission is to improve the confidence level of both investors and consumers bybringing in fair practices through self- regulation. The rating of Real Estate developer and

project would enhance the comfort levels of the consumers while making investmentdecisions, and also help developer to mobilise funds for their projects. A number of rating

mechanisms are available in the market, but their acceptance and adherence by the consumersand developers is hindering the progress of real estate industry. The rating parametersdeveloped by NAREDCO on the basis of Haryana Model need to be widely discussed anddebated to bring quality products in the market, which can qualify for the top most grades. Aunique aspect of NAREDCO rating is the introduction of real estate industry experts in theprocess of rating prior to assigning the grades by the rating agencies.

NAREDCO rating is not restricted to only one rating agency (presently only with CRISIL).NAREDCO looks forward to interaction with all such agency in India & abroad. Shortly,NAREDCO would be signing a memorandum of Understanding with ICRA (another premier rating agency in India) for rating of real estate developer and projects.



CRISIL - NAREDCO Rating Rating of Real Estate Projects and Developers

National Real Estate Development Council (NAREDCO) is the apex national body for RealEstate Development, with Hon'bleMinister of Urban Development and Food & Consumer Affairs, Public Sector organisations and all practitioners of real estate sector, for self regulation of industry and bringing ethics and code of conduct in this profession.NAREDCO's mission is to improve the confidence level of lenders, investors and consumersby bringing in professional practices. One of the highly professional methods is to develop asystem of rating developers and real estate projects to enhance the confidence levels of lenders, investors and consumers while making lending and / or investment decisions.

Credit Rating Information Services of India Ltd., established in 1987, has come a long way inpioneering the concept of credit rating in India. Today, it is the market leader with dominantshare in the rating business in India and is instrumental in developing the framework andmethodology for rating rupee denominated debt obligations of Indian corporates and financial

institutions along with the debt issues of large infrastructure projects. Individuals,institutional investors and lenders use CRISIL ratings as a benchmark for framing investmentand lending policies.

CRISIL as part of their rating service has developed rating methodology for the Real Estate

Sector and has completed a large number of projects rating across the country. NAREDCO,being the apex body representing real estate sector, concern has been invited by government

to be the agency for rating the developers/ real estate projects, Based on this, NAREDCOentered in a Memorandum of Association with CRISIL for carrying out rating of Real Estate

Projects and Developers. The methodology and symbols for the same have been developedby CRISIL, in consultation with NAREDCO and National Housing Bank (NHB).

real estate measurements

Documents