2 BHK Flats in DLF city, Gurgaon are like a dream house, as they are fully equipped with modern means of lifestyle. The two bedroom houses set amidst the lush green surroundings with a lot of contemporary facilities to offer provide perfect accommodations to a great many people. Such houses boast of features that are tempting enough to draw your attentions. Proximity to shopping centers, parking facilities, 100% power backup, 24 hours water supply, security service, parks and a healthy environment are some of the features that have become a benchmark for 2 BHK apartments in DLF city.

The houses constructed by DLF are considered as an epitome of the most modern and highly stylized residential paradigm. Architectural brilliance, beautiful landscape, swanky houses and lavish style are the hallmarks of flats and apartments constructed by DLF in its various phases in Gurgaon. Such houses, including 2 BHK flats, have been designed keeping in mind the evolving segment of a completely new breed of professional class. You will see a perfect blending of the trendiest ideas of luxury and conventional belief of comfort. As a result, everyone is looking forward to owning or renting a flat in DLF city. And the most favorable category of houses seems to be the 2 BHK Flats or apartments consisting of two bedrooms.

It is not difficult to find 2 BHK flats for sale in DLF because of the the excellent network of real estate agents in the city. It is also possible to rent a fully furnished 2 BHK apartment in DLF quite easily. The property dealers will help you find the one that suits your needs exactly. 

Any further information visit website www.zameen-zaidad.com

Suncity Projects (P) Ltd., a real estate company, has launched a Rs 150-crore destination mall named Vasant Square Mall (VSM) in Vasant Kunj in south Delhi. Earlier, it created CrossRiver Mall in east Delhi and North Square Mall in north Delhi.

A collaborative infrastructure development venture of Essel Group, Action Group and Odeon Builders, Suncity Projects assures the future customers of a truly ultimate shopping and entertainment experience. Strategically located on Mehrauli-Mahipalpur road, VSM is sure to attract the crowd from all over south Delhi and surrounding areas. It will be thrown open to the public in 2006.

VSM is spread across five acres of land and the covered area is 2, 50,000 sq. ft. There will be four floors offering an exciting, fun-filled experience to the mall crawlers and people who love to splurge into fun activities. The mall has been aesthetically designed with landscaped surroundings. The third floor, presenting a food court offering multi-cuisine restaurants, would be dedicated to the gourmet section. There will be an action-packed entertainment zone, serving enough options for adults and kids alike with lifestyle clubs, hi-tech virtual games and bowling alley. VSM will also flaunt India’s first ‘winter sports’ complex comprising adventure sports like skiing and sledding without snow.

For the first time, Delhi will have a mall with a 1,300-capacity amphitheater providing a platform for hosting cultural events, brand promotions, product launches, movie screenings and live shows. The shoppers can indulge themselves through a three-level department store, a supermarket and various shops offering a wide range of national and international brands in various categories. A traditional Meena Bazaar will also feature, besides a huge 25,000-square-foot atrium.

In the words of Ashok Bansal, Director, Suncity Projects (P) Ltd., VSM aims to redefine the ambience and atmosphere of a mall by generating excitement for people of all age groups.

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Home Is Where Omaxe Mall Is 

Omaxe Construction, a real estate major, has launched ‘House 2 Home’ mall to be located on Gurgaon-Sohna road. It will provide everything that you need to convert your house into a home.

Spread over an area of 1,50,000 sq. ft., this mall will sell construction materials, furniture, furnishings, landscape elements, art works, home appliances, white goods, objects for interiors and insurance facilities. Also to be provided are the services of architects, Vaastu and Feng Shui experts, contractors, consultants, interior decorators, real estate agents, etc.

The air-conditioned mall is to be divided into five levels with each level serving a specific purpose. It will be equipped with facilities like escalators and double height merchandise lifts, exhibition centre, sufficient parking space, display areas, information kiosks, adequate storage facilities and 100% power back up. Food courts are to be housed too.

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After the Infosys building, the Sobha Global Mall is all prepared to set a trend, a benchmark for other retail developers and become a landmark of Bangalore.

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Any Further information visit website www.zameen-zaidad.com

CORPORATES EYE VALUE EROSION IN REALTY SPACE, FLOAT FUNDS TO ACQUIRE ASSETS IN DOMESTIC MKT

Expecting huge value erosion in the realty space, corporates have started to float new funds to acquire assets in the domestic property market.

Corporates such as the Aditya Birla group, GMR Infrastructure, Akruti City, Bangalore-based Nitesh group and Saffron Advisors have either floated or are in the process of floating funds with corpus ranging between Rs 500 crore and Rs 1,000 crore.

"As far as Indian realty is concerned, for the right projects, funds are still available," said Saffron Advisors MD Ajoy Kapoor. "Conservative European investors, after conducting extensive due diligence and research, are more comfortable with investing in Indian real estate provided they are able to align with the right partners," he added.

Munich-based retail aggregator Deutsche Capital Management AG (DCM) has underwritten $20 million for Saffron India Real Estate Fund I (SIREF I), an India-focused real estate fund floated by Saffron Advisors. DCM is raising a specific fund for investing into Indian real estate through Saffron Advisors.

SIREF I is currently raising funds in the US, the UK, Europe, the Middle East and the Asia Pacific. It is a $350-$400 million real estate fund with a maximum limit of $500 million.

Bangalore's Nitesh group is in the process of floating a Rs 1,000-crore property fund to invest in the group's real estate arm Nitesh Estates' upcoming project and to buy assets. "We have initiated talks with many European institutions and HNIs to invest in the fund. The initial response is very positive," said Nitesh group chairman Nitesh Shetty.

Mumbai-based developer Akruti City is also planning to float a Rs 400-crore fund to acquire more properties as valuations drop across India. "We have got Sebi approval to float a real estate fund," said MD Vimal Shah. "We have initiated talks with domestic banks to raise the funds," he added. In the next six months to one year, the property value would fall further which would open opportunities for acquiring cheaper real estate assets, he added.

Tough lending norms, an unfavourable primary market and the US financial worries have started to limit money flow to the domestic property market. The number of real estate deals has reduced and fancy valuations projected by developers witnessed a deep correction, said industry officials.

The Aditya Birla group recently said that it has plans to float a fund for real estate with the corpus likely to be over Rs 500 crore. Industry sources also said that GMR Infrastructure is also planning to float a $1billion infrastructure and real estate fund and that preliminary talk are on with institutions and banks.

    & nbsp;   &n bsp;Courtesy:- ET dtd:- 25 September 2008

Any Further information visit website www.zameen-zaidad.com

The new city of Navi Mumbai got a special mention in the National Geographic Channel's Mega Cities of the World' series. This can be attributed to its well-planned roads, internal expressways, flyovers, and multi-structured rail corridors, modern railway stations that house commercial complexes, state-of-the-art IT parks, broadband connectivity, super-speciality hospitals and superlative educational facilities.

In fact, Navi Mumbai, today, is a buzzing hub for major economic activities. And with the emergence of the Mumbai-Pune knowledge corridor, Navi Mumbai Special Economic Zone (NMSEZ) and the proposed international airport, the city looks set to zoom sky high in the industrial and commercial stakes.

The 344 sq. km. of undeveloped land is today a mega city, offering its residents a better way of living, with an enviable lifestyle. The City and Industrial Development Corporation of Maharashtra Limited (CIDCO) planned Navi Mumbai on the foundation of one word: self-sufficiency. And the formation of 14 self-contained with excellent educational, health, social, religious, cultural, sports and recreational facilities. To minimize travel time, these nodes have been strung along a mass rapid transit corridor with a Central Business District (CBD) at its heart. Major wholesale markets and industrial belts are evenly distributed in the outer areas, while the intervening nodes are predominantly residential settlements. The residential nodes have been carefully selected in areas that would service the job centers efficiently. All these factors have contributed in making Navi Mumbai a well planned city.

Courtesy:- ET, dtd:- 24th Sep.2008

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India is a promising investment option for investors. Indian property sale market includes lands, land services, commercial real estate to residential property. Invest in commercial offices, hotels, guesthouses, resorts, bungalows, flats, offices, shops.

Invest in a profitable business venture in India's commercial capital Mumbai, or other metros such as Chennai, Kolkata or Bangalore. Set up an office or a residential complex in smaller cities such as Indore, Jaipur, Ahmedabad or Coimbatore. Make revenue from tourism by investing in hotels, guesthouses or resorts in Kochi or Goa. Buy a magnificent villa in Kodaikanal or Mahabaleshwar. Property in India gives you such diversity! It is not without reason that India has emerged as a keen competitor in the global real estate market. Whatever you may be looking for – seaside residential complexes, hillside retreats, bungalows, farmlands, agricultural lands, or apartments in bustling cities – find it all in magnificent India.

India is a promising investment option for investors. It is a favorable market and Indian property sale market includes everything from lands, land services, commercial real estate to residential property. Invest in commercial offices, hotels, guesthouses, resorts, bungalows, flats, offices, shops, industrial premises, malls and more, in any part of the country. Or if you are looking at investing in lands, you can invest in commercial land, agricultural land, land for schools, hospitals or resorts, land for houses, shopping malls and more.

Find different types of land of varying sizes, all over India. The most coveted land for sale in India includes land in the outskirts of bigger cities, in smaller town and in rural areas. Buy land to build profitable commercial or business ventures. If you are looking at investing in farmland, agricultural land, industrial premises or factories, rural areas provide you large sizes of lands at cheap rates.

India is a fast growing economy, with a booming real estate market. To make the most of property in India, read Realty Plus and update yourself. Realty Plus is India's first real estate monthly magazine packed with hundred pages of in-depth reports, surveys, analyses and expert views on a variety of real estate issues. Learn everything about properties in India for sale, buying, selling, renting and leasing out. Realty Plus gives you the best listings of Indian property sale, property sites and information on real estate research, consultancy, agency, project and property management services for all asset types. Find also latest hot property in India, which you can buy at amazing prices.

Rent a house or office, buy or sell house, apartment or commercial property - the options in Indian real estate are plenty. When you invest in property in India, rest assured that you are making a wise decision. And only Realty Plus magazine gives you all input, which can help you make the right one.

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A Suggestion from the Union urban development ministry could come handy to the Delhi government during an election year. The ministry has recently suggested that the Delhi Development Authority (DDA) should mandate itself to build 40,000 units per year for the low-income migrants who struggle for a roof above their heads.

According to the proposal, a migrant who would have otherwise moved to a slum, should be given a small flat in rent before he is motivated to buy that flat. And this will be possible with Central government subsidies. This will also help check slum dwelling. Urban development secretary M Ramachandran said that such a proposal is in an initial stage. "On an average, at least 40,000 people migrate to Delhi every year. The spread of slums needs to be checked and such a move can be of great help in doing so. The DDA has no problem of resources, hence taking up this initiative should come easy," he said.

In fact, the suggestion is quite novel in itself as it will motivate rent payers to be owners of the property later. "Initially they can pay a nominal rent as they will not immediately have the funds. But, eventually, the idea is to encourage them to own the property," adds Mr Ramachandran.

Raminder Grover, CEO, Homebay Residential of global real estate consultancy Jones Lang LaSalle Meghraj (JLLM), said that such affordable housing would in many cases help weed out the slums. "Slum dwellers can be assigned suitable living spaces while the remaining units can be sold at subsidized rates. It can be quite a useful model."

In fact, the government is offering developers considerable incentives via single window clearances, reduced taxation and infrastructure enablement if they want to build affordable homes. The DDA's ambitious plan to develop 6,000 flats for the mid-income segment also met with an overwhelming response. In fact, the Greater Noida Development Authority has launched a similar initiative. These developments have made residential units in the Rs 15 lakh range a possibility again, something that was unheard of in Delhi and NCR earlier.

Courtesy:- ET, dtd:- 21st Sep 2008

To make the sector more lucrative for the private developers, the government will have to intervene in order to make affordable housing a reality.

The present slowdown in the real estate sector is transitory in nature and will soon revert to its growth path, says the global consultancy firm Ernst & Young in a report with FICCI: 'Indian real estate - shifting gears'.

Considering the present opportunities as well as the strong economic fundamental drivers, the report says the outlook for the mid- to long-term is positive. More than being an aberration, it points out, the slowdown only denotes a brief pause required for realignment with changing dynamics.

The momentum of the market in the mid- to long-term would be sustained by the emergence of new markets, innovative products, ongoing corporatization of the sector, integration with global markets, greater transparency and new funding mechanisms, the report explained. The report points out that as the major shortfall in the housing sector lies in the economically weaker sections (EWS) and lower income groups (LIG) housing, the developers are now shifting their focus to this new arena. But, it further says that in the present circumstances, for low-cost housing to be a reality, the government will have to intervene.

According to a planning commission report, housing shortage in the country is to increase to 2.65 crore units by 2012, from 2.47 crore in 2007. EWS and LIG housing constitutes 99% of the total shortfall. The high rate of urbanisation and the rapid movement of EWS and LIG population to cities have increased the demand for affordable houses in this segment.

As the demand for the upper middle class and upper-class housing is almost met, developers are looking for new avenues to grow. The report says housing for the EWS and LIG people is the new arena brimming with opportunities, where the rate of return could be low but the size of opportunity is very large. While this is incentive enough for developers to invest, the government will also have to simultaneously create conducive environment for the purpose.

The report tried to ascertain the definition of affordable housing in the country. To gain insight on supply side, that is developers' perspective on potential price points for providing affordable housing, the report obtained views from more than 100 developers and institutional investors in the country.

Contrary to the prevalent practice of using EWS and affordable housing interchangeably, the report said 36% of the developers interviewed were of the opinion that in the current market scenario, affordable housing should be priced between Rs 10 lakh and Rs 15 lakh. Another 34% of the developers interviewed are of the opinion that it should be priced between Rs 15 lakh and Rs 25 lakh. Only 20% of the developers believed that products less than Rs 10 lakh should be classified as affordable housing.

However, on the demand side, the report's analysis threw up a figure of Rs 17 lakh as an optimum price qualifying for the 'affordable housing' tag. But, in the present circumstances when the land prices have gone up substantially, the report said that government will have to intervene to contain the cost so that developers could construct and sell houses at affordable prices. It said that if developers want to construct affordable houses in the current residential clusters, despite the government waiver on regulatory charges, profit margins would be too low to tempt developers. However, the margins improve considerably as the developers move away from existing residential nodes. The report suggested that if the affordable housing project were 15-20 km away from the current residential cluster, an additional cost of external development charges would have to be born by the developer to raise support infrastructure.

But, if the government waives the regulatory charges and an additional free-construction right is given to developers in the area, the cost of construction including the land cost would get reduced substantially. This would lead to a substantial rise in the profit margin.

A senior consultant said that locating the construction of affordable housing at 15-20 km from existing residential clusters would also increase the supply of land to the residential sector. He said this would automatically drive the prices downward and make the hosing affordable for lower income group of people.

But, for this, the government will have to improve the connectivity of the newly earmarked areas, for affordable housing, to the main city. It should develop the rail-based mass transit system, which is not only affordable but also very efficient and reduces the travel time substantially.

The government's efforts to construct a few thousand houses in the central hub and sell them at the affordable price range, as DDA is doing, will not solve the problem. It becomes just a lottery for the lucky few and the shortage for the lower income group would continue to persist. Instead of this, the consultant said, the authority should have auctioned the land to the highest bidder and invested the money in developing infrastructure like rail, road, water supply and drainage systems to a far-flung area, thus bringing a huge land parcel into the main-stream market. Then, the private developers could have been allowed to develop residential colonies for EWS and LIG groups. Because of the competition among developers, he said prices could have come down to the affordable range.

Meanwhile, the government is also considering subsidizing interest cost to EWS and LIG group of buyers. According to one estimate, this might cost the government Rs 1,100 crore in meeting the demand. But, this will go a long way in making the 'affordable housing' dream happen.

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THE CURRENT REAL ESTATE SCENARIO MAY SEEM GLOOMY BUT YOU'LL BE SURPRISED TO KNOW THAT IT IS AN EXTREMELY FAVOURABLE TIME TO BUY PROPERTY IN DELHI.

Delhi's residential market is perceptibly responding to the current market pressures. The increase in home loan rates has caused the residential sales slowdown to quite an extent. This would have been thought of as almost impossible earlier, considering Delhi's high rate of demand and speed of residential stock absorption.

Today, however, many prospective buyers are deferring their purchase and waiting for more amicable development to take place in terms of property and home loan rates. The luxury segment remains more or less insulated from this phenomenon – the demand for high-end-residences remains unaffected – but a watch-and wait stance is very obvious in the mid-income segment.

Nevertheless, the slowdown has brought to fore the dire need for affordable housing options. The DDA (Delhi Development Authority) has responded rather admirably chalking out a plan, to develop 6000 flats for the mid-income segment. Understandably the response from, the otherwise hesitant homebuyers has been tremendous. In fact, the Greater Noida Development Authority has launched a similar initiative. Thanks to these developments, residential units in the Rs 15 lakh range are once again a possibility Again; these kinds of rates in Delhi and NCR were unheard-of earlier.

In a nutshell, there has been a correction of approximately 10 per cent in certain pockets of Delhi's property market. However, many developers continue to hold on to their prices, and there is no classic overall correction happening, except on the resale market. Investors, who have bought units in bulk and are unable to offload them to a large extent, drive this segment.

The current market scenario may seem gloomy to the uninitiated, but the fact is that it is an extremely favorable time to buy property in Delhi. Entry levels are currently subdued and may sink further, and the market will inevitably recoup – and the long-term prospects are excellent.

In the future, one can expect significant new residential supply in the NCR region. To be more precise, Gurgaon, Faridabad, Ghaziabad, Sonepat, Bahadurgarh and Manesar will see new projects reach completion, thereby offering a wide range for prospective buyers to choose from.

In the not-too-distant future, the 1,483 km. DelhiMumbai Industrial Corridor, which will cover Delhi and NCR, Haryana, Uttar Pradesh, Rajasthan, Gujarat and Maharashtra, will add value to every sector of the property market in Delhi and the NCR region. This $90 billion project will open up three new ports and as many as six airports, and will link ten cities (including Faridabad, Surat, Delhi, Greater Mumbai, Meerut, Jaipur, Ahmedabad, Pune and Nasik).

The industrial units that will spring up along major transport arteries such as highways connecting ports (in response to the internal and external trade possibilities that open up) will add a completely new dimension to Delhi's residential, commercial, retail and ware housing sectors.

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HOW DOES ONE SAVE ENERGY AND WATER IN A GREEN BUILDING? ET REALTY UNFOLDS ANOTHER GREEN REVOLUTION, NOW IN GLASS AND STEEL

From a humble beginning of around 20,000 sq feet of 'green footprint' in India in 2003, to a colossal 10 million sq feet, expected by the end of 2008, the culture of 'green' buildings has definitely arrived in India.

The best part is that now more and more government departments, realty sector players and corporate houses are appreciating the importance of green buildings. The India Inc giants like Wipro, Godrej, ITC, Bharti and many others are reaping the benefits of turning green. Reduction of energy bills at Wipro Gurgaon was estimated at 40%, and 45% at ITC Gurgaon.

ITC boss Y C Deveshwar has recently said in an interview that all their new buildings would be 'green'. Let us hope that others will follow suit. It is in their interest as well. If the recent study done by CII is any indication, the productivity levels of those work from green buildings increases.

If we talk about our country, close to 300 buildings have taken the green route. In a couple of years, we will have green buildings for hospitals, exhibition centers, educational institutions, airports, government buildings and corporate offices.

The Hyderabad International Airport is soon going to get a green rating. A convention centre coming up in Bangalore, an engineering college in Hyderabad and the Park Hotel in Hyderabad are going for green rating. S Zinnias, principal counselor, CII Godrej Green Building Council, said that from one building in 2001, there were now 254 green buildings with 150 million sq ft registered for certification in India.

K Kanchwala, vice president of K Raheja Corp said green buildings offer a wide range of benefits - from energy and water savings to better indoor air quality and a green image. What are the savings in terms of energy, water etc, in a Green Building compared to conventional buildings?

According to Kanchwala, energy saving is different from building to building, and from site to site. Energy and water savings vary between 35% and 40%, which is far better than those for many modern buildings.

So, Green Buildings offers a range of economic and environmental benefits like reduction in operational cost, a 'Green' corporate image, and enhance the occupants' comfort and improve their productivity.

RMZ Galleria, a 1.9 million sq ft mall in Bangalore is currently under construction and will be a green development. So will the K Raheja Mindspace projects at Mumbai and Hyderabad are, both of which are currently under development.

Can exist building be converted into green buildings? According to Dr Nazma Rizvi of School of Planning and Architecture, it is next to impossible for the existing buildings to be converted into green building. If we look at the typical criteria for a green building, which are energy, water, soil erosion, indoor air quality and building material, it is really difficult for the existing building to adopt these five criteria wholesale for that 'green' make over.

Thus, for an existing building to convert into a Green Building, the overall cost will work out more than what it would take to erect a whole new Green Building, in situ, with the same dimensions.

Even materials used in a Green Building are different from those in any modern building and cannot be used in the existing buildings. Clearly, if one wants to convert an existing building into a green one, the whole structure has to be changed, and it is not practical. It will make much better economic sense to build the Green Building from scratch.

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Kolkata has become a hunting ground for real estate developers property prices may have cooled off in other metros but in Kolkata they show no sign of abating. There are areas in south and south central Kolkata where the prices of apartments have risen to the tune of Rs.800/- per sq. ft. in just six months. Top-notch real estate developers have also caught the fancy of the market. Many interesting projects that are coming up in the city include Sunrise Symphony, Unitech Kolkata, West International City, Eden Plara, Eden Flora, Eden Woods and Eden Orchid etc. With so many projects on the anvil, Kolkata has become an epicenter of attraction for builders and investors.

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They are one of the most recognized names in Noida real estate market. Well established in all kinds of sale, purchase and renting deals relating 1 BHK, 2 BHK, 3 BHK flats, 4 BHK apartments, penthouses, villas, independent bungalows and commercial properties, they give you most experienced real estate agents to guide you through your property deal.

With Haryana making licence a must for real estate agents, their role in the supply chain and benefit to customers has been recognized, says E Jayashree Kurup.

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For the first time in the country, a state government, Haryana, has announced that real estate brokering services will have to be undertaken by licensed professionals. As a leading industry watcher puts it; "Real Estate agents have been acknowledged as important links in the supply chain of real estate."

The biggest benefit of mandating registration of brokers in Haryana is that there is some accountability built into the system. The early attempts at training real estate agents started in the late 1990s when the Housing and Urban Development Corporation (Hudco), through its training wing Housing Settlement Management Institute (HSMI), ran a real estate training course. Hey parameters were identified and training imparted. Today, those trained realtors have formed an association. – ACRI.

So what does registration of brokers do and who benefits? The primary beneficiary of the initiative is the consumer. Government agencies such as the National Housing Bank have been trying to find the formula to get brokers together. Explain Shashi Kant, president, association of Accredited Realtors of India (ACRI), "this is a good initiative as it will tell the user that a credible set of people are working on the brokerage of the real estate transaction."

In the U.S., every house that has to be sold has to be listed in the industry-sponsored Multiple listings service (MLS) that stated in the 1960s. Agents who hold licences to operate in the area the transaction is concluded, are paid brokerage commissions based on formal applicable rates. But in India, anybody can become a real estate agent with no certification of skill sets or licensing for areas of operation.

 So what are the specific skills required to service a customer? "When selecting a broker a customer has to ensure that the broker is familiar with the ground rules of the state or city and the trends of property development," explains an urban finance specialist. The agent is the consumer's first interface with the market and a licence will ensure a minimum level of credibility. As the authority which operates and liaises between the owner/developer and the user/buyer, he should know what to recommend.

This is based on what clearances are required before a property can be transacted and what sanctions to be received. Recently, a developer had started selling a project with the tag NOC approved. Effectively this meant that the developer had received the No Objection Certificate from the authority to start applying for licences to build on that particular piece of land. As a first time buyer this may not strike the user, but the agent then becomes the authority to vet the jargon and ensure that the property is worth investing in.

He should know all the details of the property document, including the carpet and super area formats, the loading by each developer as well as the locality profile so that he can advise buyers of the relative merits and demerits of the investment. As the most visible point of contact for a buyer, he should also be able to advise the buyer on whether the property is legally suited to secure home loans. This makes it imperative for him to understand financial advice as well as municipal charges and transaction costs. He also needs a working knowledge of the basic structural sufficiency norms for the area of operations as well.

Keeping this in mind the NAREDCO certificate course, a collaborative initiative of Guru Gobind Singh Indraprastha University (GGSIPU), NAREDCO and HSMI of HUDCO targets real estate agents, property brokers, sales persons, commercial and customer care executives and sales and home loan agents working any where in India.

According to NAREDCO, transactions in the real estate market are primarily linked though sales persons and brokers. Brokerage activities relate to selling, leasing, renting, managing, lending, soliciting and negotiating in return for compensation. Property transactions over the years have become much specialised and complex therefore, it is necessary for brokers and sales persons to acquire specialised knowledge of property laws and market operations.

NAREDCO has even evolved a code of conduct to regulate real estate brokers. According to Sunil Aggarwal, CEO of SARE Capital, a real estate linked private equity fund. "This code of conduct and regulatory mechanism protects not only the consumer but the broker as well. The minute a broker or brokerage firm can formally get the deal signed off by the seller, the buyer and the adviser, the entire process protects all the parties. Delhi has similar policy document waiting to be passed.

However, not everyone is happy According to a leading consultant from Hyderabad who has been working in the field for over a decade. "The government has started thinking of regulation of real estate. However unlike the insurance business where the Insurance Regulatory and Development Authority could impose certification on a uniform basis, the real estate industry still suffers from a major problem of rectifying and regulating land parcels, registration and transaction processes and even all-cheque deals. Without these, the regulation of realtors alone does not seem to have the desired effect."

In the absence of such regulation, agents have been going for self-regulation as in the case of ACRI, National Association of Realtors of India and various small broker bodies. They insist on their members having PAN number and Sales Tax numbers so that some level of checks are maintained.

Self regulation or state imposed, the consumer today is demanding some authentication of the realtors who advise them on the biggest purchase of their lives. Can a right formula emerge?

    & nbsp;   &n bsp;   &nb sp;   &nbs p;     ;         & nbsp;   &n bsp;   &nb sp;   &nbs p;     ;         & nbsp;   &n bsp;   &nb sp;   &nbs p;     ;          Courtesy E.T- 14-09-08

WHAT ARE THE SAVINGS IN TERMS OF ENERGY AND WATER IN A GREEN BUILDING, COMPARED TO CONVENTIONAL BUILDINGS?

From a humble beginning of around 20,000 sq feet of 'green footprint' in India in 2003, to a colossal 10 million sq feet, expected by the end of 2008, the culture of 'green' buildings has definitely arrived in India.

The best part is that now more and more government departments realty sector players and corporate houses are appreciating the importance of green buildings. The India Inc giants like Wipro, Godrej, ITC, Bharti and many others are reaping the benefits of turning green. Reduction of energy bills at Wipro Gurgaon was estimated at 40%, and 45% at ITC Gurgaon.

ITC boss Y C Deveshwar has recently said in an interview that all their new buildings would be 'green'. Let us hope that others will follow suit. It is in their interest as well. If the recent study done by CII is any indication, the productivity levels of those work from green buildings increases.

 If we talk about our country, close to 300 buildings have taken the green route. In a couple of years, we will have green buildings for hospitals, exhibition centers, educational institutions, airports, government buildings and corporate offices.

 The Hyderabad International Airport is soon going to get a green rating. A convention centre coming up in Bangalore, an engineering college in Hyderabad and the Park Hotel in Hyderabad are going for green rating.

S Zinnias, principal counselor, CII Godrej Green Building Council, said that from one building in 2001, there were now 254 green buildings with 150 million sq ft registered for certification in India.

K Kanchwala, vice president of K Raheja Corp said green buildings offer a wide range of benefits - from energy and water savings to better indoor air quality and a green image. What are the savings in terms of energy, water etc, in a Green Building compared to conventional buildings?

According to Kanchwala, energy saving is different from building to building, and from site to site. Energy and water savings vary between 35% and 40%, which is far better than those for many modern buildings.

 So, Green Buildings offers a range of economic and environmental benefits like reduction in operational cost, a 'Green' corporate image, and enhance the occupants' comfort and improve their productivity.

RMZ Galleria, a 1.9 million sq ft mall in Bangalore is currently under construction and will be a green development. So will the K Raheja Mindspace projects at Mumbai and Hyderabad be, both of which are currently under development.

Can existing building be converted into green buildings? According to Dr Nazma Rizvi of School of Planning and Architecture, it is next to impossible for the existing buildings to be converted into green building. If we look at the typical criteria for a green building, which are energy, water, soil erosion, indoor air quality and building material, it is really difficult for the existing building to adopt these five criteria wholesale for that 'green' make over.

Thus, for an existing building to convert into a Green Building, the overall cost will work out more than what it would take to erect a whole new Green Building, in situ, with the same dimensions.

Even materials used in a Green Building are different from those in any modern building and cannot be used in the existing buildings. Clearly, if one wants to convert an existing building into a green one, the whole structure has to be changed, and it is not practical. It will make much better economic sense to build the Green Building from scratch.

Courtesy: - TOI dtd: - 13th Sep. 2008

The Notified Pioneer Engineering SEZ offers ultra-modern infrastructure for the Engineering. Sector Export Oriented Units. It is located on NH-1, near Murhal (Sonepat) covering an area of approx 250 acres.

Completing the company's portfolio are a number of IT/Bio Tech, SEZ's and IT Parks with area ranging from approx. 10 acres to 75 acres.

These projects are being developed by the company in prime locations like Greater Noida, Gurgaon, Noida, Lucknow and Khapoli (Mumbai).

These projects are being designed by renowned consultants and will have excellent facilities and infrastructure for the units. Most of them are being designed with "walk-to-work" concept.