skylar - tata housing · taxis and auto rickshaws, many consider mumbai to be better planned than...
TRANSCRIPT
Welcome to Skylar - Tata Housing's quarterly realty bulletin, through which 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.
AvezaMulund, Mumbai
• Real Estate Overview 02 - 03
• Cover Feature 04 - 05
• Viewpoint 06 - 11
• All About Homes Corner 12 - 16
• Tata Housing in Media 18 - 19
This Issue’s Highlights Include:
skylar
As per the recent report from Knight Frank, a real estate consultancy firm, India will face severe housing shortage and will be one of the main problems India will have to handle in the near future.
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By the year 2031 the population,
residing in the top Indian cities, will be
over 600 million. It stresses that the
government and the real estate
builders will have to really find some
solutions to solve the housing short-
age. By the same year, India will have
to produce a good number of housing
units in the country. Only then there is
a chance for the government to meet
the surging demand for housing units.
In 2012, it was estimated that around
94.98 million of the population is living
in slums in Indian cities. The number
alone shows and points out the grave
situation of housing shortage which
will reach its nadir level or the worst
level by 2031.
On the sunnier side with the Indian
economy getting back on track, the
real estate sector is expected to
stabilize in the next two to three
quarters. We would anticipate this
cent over the next decade. Further,
the industry is set for robust inflows
of US$ 4-5 billion from overseas
investors in the next couple of years,
with Bangalore, Delhi and Mumbai
emerging as the favorite destinations
for investment, as per Jones Lang
LaSalle, a global real estate consul-
tancy giant.
India Ratings has also revised its
outlook for the industry from negative
to stable. An encouraging trend
noted by India Ratings was easing of
liquidity pressures and free cash
flows available with real estate
companies. This trend is expected to
continue into first half of 2013-14.
The key reasons responsible for the
growth seen in the real estate indus-
try in India include liberalization of
government policies. Furthermore,
FDI in multi brand retail will also give
a push to the growth in the real estate
sector. It will trigger the opportunities
for retailers, thus leading to an
increase in demand for real estate.
Real estate companies which had
stalled their expansion plans due to
poor market sentiment are expected
to recommence the process in the
near future as they move out of the
‘wait-and-see’ phase observed over
the past year.
sector to grow, albeit at a slightly lower
pace, as the demand for housing still
appears to exceed supply, and the
weakening rupee makes India an
attractive real estate investment
destination for non-resident Indians.
The real estate industry in India is yet
in a promising stage. As per the recent
industry reports, the sector is
expected to grow at the rate of 30 per
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TURE Let life
begin at 60!
Much as we measure out our
lives in decades and talk about
the lost times of youth, truth is,
real life does begin at 60! Far
from the myriads of “making it”
run – if 20 can be termed as
independence, hope and
excitement, 60 is achievement,
pride and life at its best. Cele-
brate it independently and
joyfully at Riva – our dedicated
community to help you start
your second innings with sixers!
Riva is a Tata Housing commu-
nity that salutes the young,
active and independent at
heart. Aimed at bringing like-
minded senior individuals
together in a modernized
community; Riva is built on a
concept of integrated township
where peop le can come
together and share experi-
ences in a community that
encourages self-reliance in a
peaceful environment. In
simple words – in Riva, you’d
find a friend, get to live your
style, have your rules followed
and cherish your undying love
for life.
Never be old!
Old is when you think you are!
At Riva, one hardly ever gets
the chance to feel so. To bring
alive the active living experi-
ence, Riva is built around the
new-age community concept of
an integrated township which is
planned and tailored to offer
care, comfort, security, privacy,
serenity and activity in the
milieu of an environment that
enables you to lead a lifestyle
that’s healthy, hassle-free and
completely independent.
Manicured gardens, quaint
sidewalks, no traffic, like-
minded people with a whole lot
of commonalities makes Riva a
place you’d love to indulge in.
Relax hard. Play harder. Live
strong.
Run a mile, chase a cat, swim a
bit, take a deep breath – Riva is
equipped with a full scale
gymnasium, a 24X7 wellness
center, a reading room, a multi-
purpose lounge and a host of
other amenities that keep you
busy. The best part about Riva
is that its infrastructure meets
the need for all classes.
Care @ Riva
If you are wondering about how
Riva’s care would be – it spans
360 degree. While the qualified
in-house staff would take
constant care of your needs,
Riva’s dedicated recreational
therapist will ensure that you
have a great time. To add, there
will be hobby groups and
community dinners that will
open up to a great social circle
where friendship will bloom.
Units and Floors
You can avail a 1BHK unit or a 2
BHK unit, with each floor having
4 spacious units and not more!
What a great way to begin 60’s
isn’t it? When most of us brood
on the impending question of
where to stay when we retire,
we already have a plan etched
to let you start your second
innings with a bang!
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greater number of sub-arteries, much smaller in size, but equally important.
The idea of city-states comes from ancient Greek cities of Athens, Sparta and Thebes, which were known as poleis singular polis, and what set them apart from their 'non-poleis' neighbors was that these were self-governed and autonomous city-states. Relevant examples in today's modern world are Singapore, Vatican City and Monaco.
In India, Chandigarh, Jamshedpur and Bhubaneswar come somewhat close to how these poleis were planned.
Smart Cities and city-states can be defined as one. These are known for their seamless plan-ning and implementation of each and every amenity that is pro-vided to its citizens. And the effects are not short-term. The self-governance model ensures that the people can avail of these amenities as long as they want, without having to sit on dharnas or create a public agitation against the government to meet their requirements.
Starting from roads, these cities have excellent public transporta-tion, housing, potable drinking water, proper sanitation and drainage systems. Having an autonomous rule means citizens do not have to constantly rush to the local authorities for assis-tance or authorization.
CITY OF DREAMS OR CITY OF CHAOS?The term 'urban sprawl' is what defines our cities. Illegal con-struction that comes up in an instant, illicit ways of getting water and electricity connec-tions, pucca construction on pavements – all done to provide some kind of housing, all end up adding further pressure on the infrastructure.
The Boston Consulting Group says 31% of our population lives in cities and this number will go up to 35% by 2020. India has 50 (2011) cities with a population of over 1 million up from 35 in 2001, and set to hit 87 by 2031.
Mumbai, while being known for its ability to provide a livelihood for one and all, is infamous for having the highest population density in the world: close to 30,000 people per square kilometer, about three times that of Delhi.
With its local rail network, thou-sands of buses and millions of taxis and auto rickshaws, many consider Mumbai to be better planned than its urban counter-parts. While Delhi, Bangalore and Kolkata might have the metro rail, its connectivity in each of these cities is far less than Mumbai's rail.
While it is understandable that
wor ld-c lass in f rast ructure projects like the Metro and Mono Rail involve investment from all concerned, what makes i t complicated to get these pro-jects on track is the involvement of multiple agencies.
In Mumbai alone, there are dozens. There's Mumbai Metro-politan Region Development A u t h o r i t y ( M M R D A ) , Brihanmumbai Municipal Corpo-ration (BMC), the Maharashtra Housing and Area Development A u t h o r i t y ( M H A D A ) , t h e Maharashtra State Roadways Development Corporat ion (MSRDC).
AT THE CLICK OF A BUTTONThe answer to all these issues is in self-governance and e-governance.
Although, India might have high mobile penetration, but when it comes to technology and internet, our country ranks very low. When most households in India were just getting to know of the ubiquitous PC, the western world was already onto laptops, albeit a bit chunky, and high-speed internet.
Smart in today's wi-fi world means technologically smart. It means doing things without standing in endless queues. Whether it is paying utility bills,
What makes a city smart? Its people? Who governs it or how it's governed? What if a city was self-governed by people who are smart? A city that isn't exactly Utopian, but borders close, at least when it comes to the way it is run.
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Working Towards Smarter Cities
By Brotin Banerjee
Let's start with how one can access this smart city? Roads – not just well-constructed, but with clear and tactical planning put into place before the road was actually constructed. This also means building service roads for every main one. Think of the city as a heart which needs big, wide arteries and a
The author is Mr. Brotin Banerjee, MD & CEO, Tata Housing
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First published in Hindu Business Line
opening a bank account or investing money.
The same goes for lodging complaints; taking an appoint-ment from the doctor should not mean waiting in line to get a 'token' which says you are patient number 332.
Urban planning is based on the three-tier concept of engineer-ing, architecture and social concerns. Apart from road networks, a city needs drain-age, hospitals, schools and blood banks. While separate agencies deal with these service providers, a central nodal agency is needed to provide a holistic approach to crisis management and to contain chaos.
Technology can be a great leveler, if used correctly. It can provide a one-stop solution to traffic management by provid-ing regular and correct updates to citizens about public trans-port; it can help manage water and waste management ; channelize power and energy sans wastage. Citizens can avai l services onl ine and authorities can reduce their work load by integrating the use of technological platforms with t rad i t iona l methods, and upgrading completely.
The biggest challenge is chang-ing the mindset of millions, who are used to traditional modes of operation, to switch to elec-tronic modes.
Villages or small towns in western parts of the world, compared to our metros, are better equipped to handle emergenc ies because o f technology.
The Jawaharlal Nehru National Urban Renewal Mission aims to introduce e-governance in all municipalities for transparent and accountable governance. Financial assistance is pro-vided for the redevelopment of old cities, water supply, waste management, etc.
Cities of Ahmedabad and the twin-city of Pimpri-Chinchwad are excellent examples of S m a r t C i t i e s . P i m p r i -Chinchwad has online services right from birth registration to property tax payment and death certificate.
In Mumbai, the Bombay Electric Supply Transport (BEST) sends sms alerts to travellers on expected time of arrival of buses. Some LPG service providers too have made the move to online bookings.
The 'Aadhar' card is a great place to begin with. Once properly implemented, each and every citizen of the country will have all his personal and financial credentials mapped to a unique number.
If all local bodies, state govern-ments, service providers like banks, blood banks and hospi-tals adopt technology, it will result in the exchequer saving a lot of the public's monies.
Some cities are taking the lead. Surat, for example, has an on-line water quality monitoring system; Greater Hyderabad uses GPRS to track solid waste management. In fact, mainte-nance of parks and street lights is done with the help of citizens, who send pictures via their mobiles.
The utopian smart city will have excellent road and rail network, clean water supply, hygienic sewage and waste manage-ment systems, equal distribu-tion of power/energy, transpor-tation that is smart and fuel-efficient, pollution levels that are under control, local bodies and government that is opera-tional on all levels and transpar-ent. All this should be at the click of a button and no condi-tions should apply.
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investment decisions. Decoding data and trends into an invest-ment strategy is the very basis of success in all asset classes. However, when it comes to real estate – the largest and most preferred investment asset class in India – smaller investors seem to rely almost exclusively on hope, faith and belief.
The information available to such buyers in India is usually fragmented, and its reliability for providing indications on ROI comparable to that of a satellite's monsoon predictions.
Data points are crucial, but they become relevant only when they are backed by ground intelli-gence and based on multiple parameters. For instance, an interesting picture emerges when one considers how India's young population is driving the
This fact is quite interesting from a human psychology point of view – however, we are not discussing psychology but real estate. The simple fact is that investment into residential real estate is today the wisest route that a retail investor can take.
Most people do not ask for relevant statistics or a compara-tive analysis of real estate against other asset classes. Nobody denies that hope, faith and belief are our ultimate assets, but investment into assets such as gold, silver, real estate, equity, bonds and mutual funds should be done with the head as well as the heart.
Show Me The DataWhen it comes to equities, bonds, commodities and curren-cies, one can rely on global trends and domestic data to take
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Being euphoric about one's residential real estate investments may sound fairly justified. While intending buyers decry the rapid rise in real estate prices, investors are on Cloud Nine. It's actually quite interesting to note how the same people who first complained about how expensive homes in India have become go on to exult about how nicely their properties are appreciating once they have bought them.
Real Estate Investment – Don't Ignore the Data
By Om AhujaChief Executive Officer at
Jones Lang LaSalle Residential Pvt Ltd.
consumption story. This story has, in fact, been driving most of the domestic business sectors for the whole of the last decade.
Cars And Property – Two Faces of ConsumptionIn this light, let us consider the automobile market, which is certainly 'driven' by young, aspirational and demanding consumers. There are striking points of comparison between the automobile and residential property sectors. Volumes, features and price points are key similarities in both.
Sales in both sectors depend on the right sizes, configurations and price tags of the products. A reduction in the cost of borrow-ing – read interest rates on loans – has a direct impact on the buying patterns and trends in both sectors.
Back To Real EstateMost research reports highlight factors such as over-supply and low absorption. Many find this worrying and take a cautious approach. Volume and supply trends differ from location to location, and market trends vary between cities. In other words, there is no way to generalize when it comes to property investment viability.
Cities with a high level of job creation continue to see high volumes of residential real estate supply and absorption. Cities with few or no economic drivers to spur the growth of employment fall behind, no matter what other factors seem to work in their favour. Earlier, Mumbai and Delhi attracted the most talent from rural areas. Today, cities like Bangalore,
residential properties priced below `3000/sq.ft. is reducing markedly. From 43% in Q4 of 2009, supply in this segment will come down to 8% in Q4 2013. Meanwhile, supply in the price range of `5000-10000/sq.ft. is expanding.
On the surface, aspirational and affordability levels are driving such trends. However, smart residential property investment will mean identifying the right p r o d u c t s p r i c e d b e l o w `4000/sq.ft. in key growth cities, as these are the best options. In c i t i e s l i k e B a n g a l o r e , Hyderabad, Chennai, Pune and Gurgaon, one can still find good residential projects in this price segment for long-term invest-ments and appreciation.
The time-related value of money and inflation are two key param-eters that one needs to take into consideration. A careful study of the graph above and factors in the growing population, it is easy to see that intelligent residential real estate investment in India will definitely pay off over the mid to long term.
Hyderabad, Chennai, Pune and Gurgaon have taken lead posi-tions and are all set to overtake Mumbai and Delhi.
IT-centric cities like Bangalore, Hyderabad, Pune – and to an extent Chennai – are now emerging as whole new residen-tial real estate propositions. IT companies there are expanding their campuses dramatically. Recently, WIPRO announced the imminent launch of their new facility and headquarters of approximately 2.5 million square feet in Bangalore.
This facility will augment their existing campus, which already employs over 31,000 people. Trends and data points suggest that dynamics in these cities will be very different in the next few years.
With inflation and construction costs moving northwards, the price trends are changing dramatically.
The graph clearly indicates that supply trends in real estate are in a state of flux. The supply of
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As you're planning for a house-warming, there are a number of things you need to plan from inviting guests, arranging food to sending invites. It's organizing which is the real deal, so here are a few do's & don'ts that will leave an evergreen memory for all on that day to remember.
1) Plan & Delegate: Hawaiian luau's are the best example where everyone willingly helps arrange,decorate, invite, cook, serve and entertain to create that perfect ambiance of warmth. The Aloha spirit and 'Ohana' that comes together, leaves you as the host to soak in everything special about this moment of celebration.
2) Go Green & Save: When it comes to any celebration, the host often brings out the best crockery and cutlery that's the pride of a home maker. Then again, things like paper plates, recycled napkins, finger foods
etc. all add an eco-friendly feel to the party and at the same time, inspires others to make a posi-tive move. Not forgetting fresh fruit juices, lemonades or infused teas that are really great and healthy. Think about natural lighting or CFL (compact fluores-cent lights) that are really great energy savers.
3) Theme based Party: Theme based parties allow you to explore your creative genius to innovate and bring out the lover, artist, or musician in you. It could be a traditional Dawat e Khas or a Chaat and Chatorey Fest. From Bollywood to Desi-Dehati you could play with colours and shades, mix and match a riot of food, art music and what not to liven up the event. A modest garden party for an outdoor feel with a pond or pool, potted plants and hanging gardens with fragrant flowers, small garden tables could also be something fantastic.
4) Give-aways: The best thing for people to remember about you and your house-warming are 'give-aways.' The easiest gifts can be sourced from household articles to DIY kits that come in all shapes and sizes and an even better way to put them to use is create nifty take away gifts like d e c o r a t e d k e e p s a k e s o r mementos to handy things like home grown greens and fruits to colourful wall hangings and posters.
House-warmings are a fun way to break the ice betweens family, friends, new neighbours, people who live down the hall or lane. The joie de vivre continues into lifelong friendships and builds trust that grows beyond walls, gardens & boundaries. House-warmings are the best place to shine in front of your guests, making them feel special and always welcome into your new home. Congratulations, once again!
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Congratulations for a new home! Surely, after signing all the lines and the keys finally in your hand, you may be breath-ing a sigh of relief. There's no place like home that puts a warm smile on your face and gladdens family and friends. You now know it's worth every pleasure to celebrate a new leg in your life. This calls for a celebration and what better than a house-warming to share all the happiness and joys of a new home.
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There have been various trends like Mughal mania, Mediterra-nean soul, Color fusion which have redefined the concept of home décor in 2012. This year is more about individuality and attaining that sublime balance between man and environment.
Conservation, convenience and cost efficiency will play a key role in defining the trends of home décor 2013.
Eco-friendly wallpapers have emerged as an 'in' thing. More and more people are looking forward to this trend and make their space environment friendly.
Bamboo flooring is also increas-ing in popularity and first on the list of responsible citizens.
Many families like to bring the rich ethnic touch to their abode. They use different motifs like tribal art, Rajasthani paintings, t rad i t i ona l t o ran , a r t i s t i c tabletops and lamps to reflect
their roots proudly and stay connected to their place of origin.
While color continues to find expression in the modern home interiors, 2013 will see it as a time to attain the right balance and tune in to a soulful harmony. Herein, the vibrant shades will be placed against a contrasting palette to be at peace with oneself and mother nature.
Green, yellow and brown will continue to dominate the color chart in home décor trends of 2013.
Being a year dedicated to envi-ronment, 'nature' will be heartily welcomed inside homes in the form of houseplants, feathers, floral prints and kitchen acces-sories.
So, whichever trends you are going to follow in 2013, keep in mind the aspect of being envi-ronmentally responsible.
HOMEDECORTRENDS2013
The times have changed and so has the attitude of people towards home décor. Previously, the saga of home decoration which included curtains, accessories, artistic elements were completely in the hands of women. But these days, men have stepped in this zone and want to customize their space with unique themes.
Do's and Don'ts of House-warming
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Rapid urbanization, that’s what India is all about today! The ever-increasing population and a bridge dividing the rural and urban has depleted India’s green cover beyond the natural or desired limit. Even in such extreme scenarios, there have been a few treasure troves including some major metros who have taken measures to build and maintain a green environment.
Let’s have a look at the top 5 metros who’ve shined bright and green in India.
Chandigarh: Chandigarh has a reputation that precedes itself with an integrated urban green-ery plan. It is the only planned geen c i t y i n Ind ia , pos t -independence. Over 38% of its area is covered with trees like Banyan and Eucalyptus, Asoka, Cassia, Mulberry and several others. Chandigarh owes its g reen s ta tus to i t s we l l -manicured lawns and gardens across educational institutes.
Delhi: The green hands of the nation’s capital have forced it to be one of India’s greenest achievement. The herculean task was carried out during the 2010 Commonwealth Games, helping it increase the green
cover beyond 20% of its area. Delhi boasts of a host of trees that have not only checked its infamous pollution levels but at the same time turned it into one of the greenest capitals of the world.
Bhopal: The heart of India is indeed green and with Bhopal at its centre, the city of lakes is an eco- lover ’s paradise. The Vindhayas and Van Vihar are Bhopal's eco oasis of greenery and have taken the burden off the Bhopal gas tragedy for many nature lovers.
Jamshedpur: A thriving symbi-otic relation between green & steel is what t ruly makes Jamshedpur an ‘Eco-steel city.’ The Dalma Hills & Dimna Lake combined with verdant green spots like Jubilee Park and Jayanti Sarovar are blessed with sheer natural beauty. One of the best kept secrets of Jamshedpur is its recycling and water treat-ment plants. They have been a constant encouragement to sensitize and drive the popula-tion towards greener living.
Thiruvananthapuram: The Mahatma called it the ‘Ever-green City.’ Being God’s own country, Thiruvananthapuram is built on 7 hills and surrounded by serene and calming backwaters. The coast of Kollum adds to the beauty of this paradise for tourists and locals alike. 'Na-ture’s Emerald' is what best defines Thiruvananthapuram.
Bangalore: ‘Garden City,’ 'Tech City,' call it by whatever name you wish, this evergreen metro has gardens everywhere along with rampant development. It
has seen its green cover vanish-ing, with flyovers and infrastruc-ture coming up instantly. Never one to give up, Bangaloreans are mounting a green attack over the city with ‘I own a tree’ as the motto. Corporates together with NGOs are doing their part to preserve Bangalore’s green heritage.
Nagpur: ‘Orange Ci ty ’ i s Maharashtra’s biggest and greenest metro. It boasts of one of India’s biggest teak planta-tions and is blessed with rich forested beauty. Nearby, the quarry around Adasa’s famous Ganesh temple is now a green oasis. Nagpur has slowed down its otherwise efforts to go green and conservationists estimate close to 25 years it will lose its green cover to redevelopment and tarring of roads.
Gandhinagar: A green feather in its hat has Gandhinagar shining the brightest with 32 lakh trees for its 1.5 lakh population. It has such variety of trees with 35 s p e c i e s i n c l u d i n g n e e m, gulmohar, banyan, pipal, mahua and rhine. Gandhinagar in true sense has enriched the green space and led an example for many others to follow.
With a little foresight and some much needed coercion by everyone, to act ive ly get involved, 'Go Green' as a phe-nomena we believe will make India a rich and green country again. At any rate urbanization isn’t going to slow down and so shouldn’t our efforts to conserve nature for our future children and grandchildren. India was ever-green and forever will remain green.
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For more such insightful articles, please visit
www.allabouthomes.co.in
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If you're tired of the pale, old, boring wallpapers, here are some cool interesting wall décor ideas you could explore to bring life and vibrancy into your per-sonal space.
Reflective Glory – MirrorsYou can use mirrors to create a splendid style statement. They don't just make a space look bigger, but even double beautiful views and invite the accompany-ing chi that comes with them. As per Feng Shui, round, oval or square mi r rors shou ld be mounted or placed in the south-east area of your home. This will attract positivity into your home ambiance. You can either place one huge designer mirror on the wall or use it along with other décor elements to create a harmonious balance.
Chalk it up - Chalkboards
Here's another interesting way to bring creativity into your everyday life - chalk-boards! You can use this board for almost anything you like; i.e. writing an inspiring quote, wishing family members on a special day, birthday messages or reminding yourself of an important date or meeting. Other than the regular black or grey chalkboards, you can also go for pretty, multi-colored chalkboards to add a pop of color to your library and kids' room. Let the magic of words flow!
Light up your space - Candle-holdersBring glow and warmth to your bedroom or living room with this artistic candle-holder. They make for an attractive décor element and help you dwell in old-world charm and glory. You can choose from vivid designs like round, square, leaf-shaped, peacock-inspired, Mughal motifs or florals and can place them singularly or in clusters. Make sure you don't miss out on the scented candles as they can transform your room into a refreshing and relaxing haven. Try it out!
Whatever you may choose to add to your space, in terms of light and color, see to it that it befits your personality!
CREATIVEWALLDECORIDEAS
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mizing the views and ventilation for its apartments. Spread across 12 acres of sprawling greenery and encircling large water bodies, the IGBC-certified master plan of Ariana marries both nature and sophistication, and blends contemporary styles with the local culture.
The project has community open spaces, jogging track, children’s playing area as part of this premium township. A fresh, green, stylishly landscaped environment makes Ariana an oasis of calm away from the hubbub of the concrete jungle. The design integrates the surroundings seamlessly and the landscaping lets residents interact with nature without disturbing it.
Speaking on the occasion, Mr. Brotin Banerjee, MD & CEO, T a t a H o u s i n g , s a i d , “Bhubaneswar today is a center of economic importance in this region. It is an emerging IT hub; the boom in the metals and metal processing industries has made it one of the fastest devel-oping cities of India in recent years. It is Tata Housing’s endeavor to provide luxury home solutions to those looking for modern eco-conscious residences. Ariana is part of an integrated township, which is nestled in green open spaces and luxury.”
Ariana has been crafted by international architects, Woods Bagot, the master plan has been designed as a horizontal leaf expression with contiguous green area running along the whole complex; thereby maxi-
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Tata Housing recently performed the bhoomi poojan of Ariana, Bhubaneswar’s first Integrated Residential Complex, at Shankarpur. The bhoomi poojan marked the commencement of construction of yet another promising by Tata Housing. The project will comprise of 1 to 3 BHK units and is being developed in association with Bhubaneswar Development Authority (BDA).
The puja ceremony was per-formed by top officials from T a t a H o u s i n g a n d Bhubaneswar Development Authority (BDA)
Tata Housing performs Bhoomi Poojan for its PremiumResidential Project ‘Ariana’ in Odisha
Tata Housing’s GURGAON GATEWAY project over-subscribed by 20 times
Company received bookings worth `400 Crores in one day
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IN M
EDIA
Tata Housing has announced
t h e o u t s t a n d i n g o v e r -
subsc r ip t i on to i t s new ly
launched project - Gurgaon
Gateway. For the first time in
the history of India’s real estate
industry, Tata Housing intro-
duced a unique strategy of
selling its units through an IPO-
styled concept by floating a
range of Basic Sales Price in the
market, from `9,000 psf to
`11,000 psf.
Acceptance of Expression of
Interest (EoI), along with a
booking amount of `10 Lakhs,
for the first phase consisting of
200 units started on 11th Febru-
ary and was closed on 28th
February. During this period,
Gurgaon Gateway was over-
subscribed 20 times at the pre-
launch stage, with an astonish-
ing 2172 application forms. The
allotments will be made through
a software generated, externally
audited, random select ion
process, ensuring fair and
transparent allotment process.
Post the allotment process the
customers will be given a choice
to select an apartment of their
preference.
C o m m e n t i n g o n t h e
announcement, Mr.Brotin
Banerjee, MD and CEO, Tata
Housing, said, “This over-
whelming response to Gurgaon
Gateway assures us that there is
a demand for quality homes in
the market, despite contradic-
tory speculation. The sale, held
via our innovative IPO-styled
strategy witnessed interest from
a wide base of customers from
across India and abroad. A
process of externally-audited
and random selection through
software was implemented for
the first time for a premium
segment in the Real Estate
Category and we generated an
order booking worth ̀ 400 crores
in a single day.”
Gurgaon Gateway is an epitome
of luxury. Strategically located in
sector 113 and endowed with
unique concepts of vertical
greens and sky gardens, this
new gateway aims to provide a
perfect ambience to match high-
end lifestyles. With the best in-
class specifications and world
class amenities, a home at The
Gurgaon Gateway paves the
way for an abode in the lap of
luxury. The exquisite cluster of
towers is spread across 28 acres
of land, located on the Dwarka
Expressway. The ultra-luxury
apartments range from 2 and 3
BHK homes of 1550 sq.ft. to
2300 sq.ft., along with pent-
houses. Each building has been
designed to have wings of varied
heights, therefore giving a
beaut i fu l def in i t ion to the
Gurgaon skyline.
skylArA QUARTERLY REAL ESTATE NEWS BULLETIN FROM TATA HOUSING MAY 2013 ISSUE 6 VOLUME II • • •skylArA QUARTERLY REAL ESTATE NEWS BULLETIN FROM TATA HOUSING MAY 2013 ISSUE 6 VOLUME II • • •
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