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Sunday, 20 November 2016

AFTERMATH OF IT ON REAL ESTATE

The surge of the IT companies in the past decade has resulted in the demand of prime and suitable space in the cities where there is more concentration of IT companies. In cities like Bangalore and other leading IT cities, there is a phenomenal growth of the industry and with that there is also great demand for office space in the city as well as outskirts.

The sudden spurt in the IT/ITES organizations resulted in a huge influx of people relocating to these cities from all over the country and also from some parts of the world causing some grave infrastructure problems inside the city resulting in severe dearth of proper commercial and residential accommodation apart from traffic snarls. As the demand for commercial units rose steadily, scores of Developers came into the picture to cater to the diverse needs of the companies. Only a handful of them could remain in the reckoning while the rest faded into oblivion. Those who could face the stiff challenges and remained in the fray were very reputed builders having a great track record and also adhered to the principles of sheer eminence, work culture, strict adherence to the time schedules and customer oriented service.

Some of the reputed builders who are continuously serving the needs of these companies viz. Ascendas (India) Pvt Ltd., L&T, Salarpuria, Divyashree Developers (P) Ltd., RMZ Corp, SJR Group, Hiranandani, Kolte-Patil Developers, Raheja Builders, and Sigma Group. They could be rated as the high performers as far as IT Parks are concerned. They are active in almost all IT cities throughout India viz. Bangalore, Chennai, Pune, Gurgaon, Chandigarh, Kolkata, Hyderabad and other second rung cities.

IT work place here means not a mundane office but an office which would have adaptable work-live-play shop environment, Hi-fi building management system, dedicated power plant, safety and security, vehicle parking facility, Water storage and also lot of modern amenities and to top it all, an aesthetically designed structure which not only acts as a visual treat but also pumps the adrenaline levels of the employees to an all time high.

It is to be noted here that though India boasts of the state of the art Hi-tech parks, some of them were not completely designed keeping with the specific industries in mind. But looking at the present trend, one may find a multitude of service based companies like Software, R&D, ITES and others inhabit these parks which are tailor made structures.

The main parameters that are considered to declare a Hi-tech park as the best is always based on the technology infrastructure, superior location advantages and natural conditions, proximity to the down town city/CBD, complete associate service, suitable transportation, assembled talents and sylvan environment. The list may also add up other points like eco-friendliness, part of the modern new Sci-tech town, closeness to the High education area, specifically for companies focused on R&D, accommodating enterprise incubation and technology innovation, urban featured industries, software exemplary base, Sci-tech commercial business, Sci-tech housing areas,

Out of the many Hi-tech parks that are currently in the offing all over India, some of the parks offer only space with the ready infrastructure while some offer space solutions in addition to selling the space. The customers always get a better deal when they go for space solution providers.

Factors like brand image, International alliance, Quality benchmarks, technology infrastructure standards, innovative space solution also plays a big role while putting a park and the builder on a higher pedestal.

At present, there are umpteen numbers of Hi-tech parks catering to the diverse needs of the clients. But not all of them could be ranked as high performing parks owing to the non-compliance of the above said parameters. It is indeed a very formidable task to adhere to all the norms and those who have climbed to that level are the market leaders and are in great demand by the clients. It has been estimated that from the present $3.5 billion, the industry may see an upward trend to around $13 billion by the year 2007.

On the commercial front, the demand has come from information technology (IT), Business Process Outsourcing companies (BPO) and information technology enabled services (ITES) companies looking for large space. With the IT industry in India predicted to grow steadily and Bangalore as usual leading the way, the demand for good quality office space near the existing IT locations is likely to continue. About 250 ancillary industries such as cement, steel, brick, timber, building material, etc are dependent on the real estate sector.

The maximum contribution being from IT and ITES companies, according to the year-end report by real estate consultants, Cushman and Wakefield.

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Friday, 18 November 2016

AFFORDABLE HOUSES-NEED OF THE DAY

At every conference, every seminar, every meeting, eminent speakers from the Real Estate Industry and Housing Finance Industry have been speaking about the affordable housing. It is a known fact that the demand for residential housing is ever increasing, particularly in the higher and lower income groups. Housing for the poor classes is always an issue, which remains unsolved, since no one is interested in taking up the housing projects for these people. Apart from the affluent class, middle class (higher as well as lower) and poor class, there is one class that is people below poverty line (BPL) which, it seems, has never been addressed. The demand for houses for middle and poor class is said to be quite high, but the property developers seem to be not very much interested in taking up any projects as the profit margin will be comparatively low.

Affordability is a relative term. It varies from people to people, even person to person. There are people who can afford to have housel flat costing Rs.75crore and there are people who cannot purchase a house/flat even costing Rs.5lakh without raising a loan. They cannot pay even the interest on such loans. Now-a-days the loan facilities are available easily and people do try to have their own houses flats by raising loans. Of course, people in the urban areas, particularly in major cities and Metros, put themselves in 'search' mode and try to purchase a dwelling accommodation affordable for them.

The property developers organize, through their associations, periodically exhibitions, property Melas etc. in the major cities for promoting their properties. To attract the NRIs, exhibitions and melas are organized by the property developers in other countries, especially in the middle east.

As we are talking about affordability, who can afford is a matter that is perhaps decided by the financial institutions who come forward to offer loans. The affordability is determined on the basis of monthly income of the person, the job security of the applicant, collateral securities available, number of years the applicant will be in service before retirement, etc. Accordingly, the financial institutions work out the amount that the applicant can afford to pay monthly and the period for repayment of loan and interest here on.

The developers take up the housing projects in various parts of the city. The projects are generally designed to suit various classes of people. The higher class people have no problem of affordability. Number of developed flats/houses/sites will be available in the property market at the prices which may suit them. In most of the cases of this category, the affordability is not a problem at all as they can buy the property outright or through the financial institutions as they can raise loans without any problem. They buy the property which they can afford easily without any fuss about the EMIs.

Property developers are also more interested in this class of buyers as the deals are finalized quickly. The affordable housing, about which we are talking, is applicable to the lower middle class and poor people as they are the main buyers. These people will be planning to purchase houses, flats with the help of financial assistance from the banks and other financial institutions. In view of the high cost of construction, the minimum cost of flats, as we see from the offers made by the developers through the media, is above 15- 20lakhs.This minimum cost is affordable only by the middle class people.

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Thursday, 17 November 2016

A NEW LOOK FOR YOUR HOUSE

A NEW LOOK FOR YOUR HOUSE

When you decide on a makeover for your home, you should have a plan for it. You need to decide what to remove or move around, what to paint, change or refresh. Perhaps, you may require fresh plants, fabrics or flowers for the purpose. Make a long list of all you have to do or purchase and plan a budget for decorating your home.

For a start remove the crowded things in your home and have an atmosphere of spaciousness and airiness. Floor mats, rugs, quilts, heavy wool blankets and woolen carpets etc should all be put away. Buy some jute mats that are easy to find in various colors to suit your interiors.

You can really welcome the summer in along with its warmth and color!Let your home be a lovely place this summer to fight against the rising temperature.

During the winter it is good to have heavy drapes for insulation but in the summer they would only serve to trap the air and heat up the rooms.To cool down your home go for light, translucent cotton drapes that would allow light and air to enter the room. Plain or light fabrics in solid colors with simple symmetrical designs can be the focus.Textured cotton, striped linen, silks in a combinations of whites, pastels, citrus and earthy hues will all do very well.

You could get light, cotton bedding after removing the heavy blankets and quilts. Your table cloth and napkins could be round an Indian theme or other theme.For a feel of the garden choose floral chintz along with floral prints for cushion covers in contrast to the sofa or natural shades of the couch.

You could select the soothing white color as the shade for the season.In the bedroom and dining area white linen with some blue or yellow prints would be suitable. Through color you can bring about a transformation in your home.

The color of the linen, walls and accessories will make the rooms fresh. In color families such as blues, oranges, yellows and reds you can vary the shades. When you pick a theme for the particular part of the house you can also decide its color. A theme of flowers, fruits or nautical will look snappy and will bring in a focus.

If you place candles in colored glass or upon a flat platter of porcelain with a few colored pebbles scattered around it will surely brighten the home. Fruit such as green apples, pears and oranges kept in a glass bowl look delectable as a center-piece.Sweet limes or plain lemons will do just as well.When there is a sale of home accessories in the market it would be a good idea to check it out.

Accessories are good for effecting quick changes in the living space.Fresh flowers such as stems of orchids or carnations in pink, red or peach colors will refresh the ambience.Long-stemmed flowers can be kept in tall vases on the center table. An indoor plant or some fragrant pot pouri in a bowl will give a feel of summer to the bathrooms too.Another idea is to frame a set of botanical prints and hang it.

If you really desire to enjoy this summer, make these easy alterations to usher a refreshing look into your home.

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Wednesday, 16 November 2016

Wind Energy in India

Wind Energy in India

For socio-economic growth of any State, energy is one of the chief inputs. In the coming two decades, economic development of a majority of the world’s population is expected to be fuelled through usage of fossil fuels. Fossil fuels are expected to attain their maximum potential sometime in 2020-2050. They will become more costly than other renewable energy options because of constraint in production and availability. In the second half of the next century renewable energy will play a major role in accelerating development and sustainable growth.

In the renewable energy sector one of the most successful programmes has been power generation from wind and it is making significant contributions to the power needs of some States. When a separate Ministry was created in 1992, emphasis was laid in the eighth plan to generation of grid quality power from renewable.

As the trend of cost is declining and the scale of wind turbine manufacturing is increasing, wind promises to become a chief power source worldwide during the first few decades of the new millennium. A report from the World Watch Institute, The State of the World 1998, on progress towards a sustainable Society notes that renewable energy production in the World is growing very fast. The fastest growing source of energy in this decade is wind generation and it is growing year by year. India has been recognised as the new ‘Wind Super Power’.

So far, in many States survey work is being carried on. Wind potential has discovered in many States. Earlier, specific viable and potential sites are now being identified through intensified scientific surveys. A good base of local production for wind turbines is now there in the Country and 8 or more than 8 Manufacturing Companies are involved in this Sector.

A package of incentives such as tax concessions like 80% accelerated depreciation, tax holidays for Power Generation Projects, soft loans, customs and excise duty reliefs, liberalised foreign investment procedures etc., has been introduced by the Government. Private Sector Financial Institutes and IREDA are contributing in a significant way to promote Renewable Energy Projects is general. Wind Energy Projects are being particularly emphasized.

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Tuesday, 15 November 2016

SPACE MANAGMENT

Managing Retail Space par Excellence

The Indian Retail Industry no longer consists of irregular family run efforts but has evolved into an Organised Well Managed Business off-late. It is of critical importance that this beginning should be properly channeled in a coordinated way, so that it grows. This sector has much potential for growth as only 4% of India’s Retail Industry consists of the organised sector unlike Malaysia, where it is 55%, Thailand, where it is 40% and 20% in China. Consumers, however, have now shown tastes and preferences for an enjoyable shopping experience along with this growth. Now, there is more than 40 million sq.ft. of retail space operating over 130 malls in this country. Within the next 3 years, the development would be more than 100 millions sq.ft. in the fast growing organised retail and within next 5 years, it may reach an average of 200 million. The success of the development now depends on the factors of differentiation and convenience as there is such a large scale of mall supply.

The condition of development of malls in this day is well summed up in the words of the famous General George S. Patton-‘If everyone is thinking alike, then someone isn’t thinking’. Rather than the planning, the speed of construction and marketing are what are typical of the sudden spate in the growth of malls of 4,000,000 sq.ft. from those of 150,000 sq.ft. make up this retail space. There would be a peculiar set of challenges in the operation of each development incumbent upon size, location, ownership patterns and positioning. There would be sharp competition among these malls and the ability of a mall to adjust to the needs of the consumer and provide the needed experience and merchandise to its customers would decide its survival.

The management of the business is what decides the success of malls. Just as Airline Passengers choose which Airline to fly According to the Services provided, Developing a Mall is also akin to establish a business unit. There are many aspects to the management of retail space beginning with the planning, design, infrastructure, trade mix, and tenant mix, operations, planning peak emergencies and marketing. The success and sustenance of the mall depends on each of these.

First of all, the development has to be rightly positioned and it is necessary to pinpoint the Personality of the Development and specify the Target Audience with their requirements. Retailers should be given an outstanding shopping experience. The customers should be given enough reason to make them walk through the mall and Each Zone in it should be Exciting and Enjoyable for them. This would keep the cycle of retailer attraction and customer satisfaction continuing. A mall of an average size would produce Indian Rupee (INR) 6 billion annually and give employment to 800-1000 people. The activity behind the scenes should be well-planned so that it does not interfere with the experience of the customer. Chaos can be avoided by planning services and back end infrastructure in advance. Time spent by the consumer in parking should also be reduced to the minimum by careful planning on the part of the retailer.

A mall should be well-planned so that it can take care of the hardware of the mall development and should carefully choose the trade and tenant mix because it helps in the day to day aspects of the shopping experience. A very patient approach is needed while keeping retailers in the mall. The time factor must always be kept in mind by the Developer and the best retail formats should be brought in. Economic Activity in the Catchment Area must be foreseen and leases planned with different Retailers in a way that will be flexible for repositioning the mall in days to come.

The whole purpose of the mall operating efficiently is to meet the needs of the Shoppers and make way for the success of the Retailers who are the Business Partners. The peak and non-peak business hours or days have to be planned and the malls need Special Staff for meeting the needs of the Shoppers during peak hours, sale time and the festive season for convenience. The benefit of the Retailers lies in the maximum amount of time spent in the mall by the Customer. There should be an effective plan for any emergencies in this business centre to ensure the safety of the Customers. There should be regular safety drills and the mall and Retailers Staffs have to be trained to Assist Shoppers at such times.

All mall operations should be efficient, effective and transparent. Provisions for the Common Area Maintenance (CAM) must be made by the Retailers who run their shops in different malls or they should pay the service charge as it applies to them. The CAM charge should not be made different each month and a budget for the service charge should be made for major repairs well in advance by the Operator of the mall and a yearly budget should also be prepared for the operations. This will bring in discipline to the functioning and give improved control.

The time, when the Shopper decides to enter the shop, and not when he enters, it will be largely influenced by the Retailer’s Treatment of Space. Factors in a high street shop such as the signage, neat footpath, parking ease and entrance into the shop are the initial steps the Customer takes in relation to the Retailer. While selecting and designing the store, it is necessary to consider these points. The Retailers must make sure that there is good signage and clear corridors in the shop what is important is the interaction with the Customer, the easy possibility of looking through the goods and the appearance, display and feel of the store. The layout of the store is the first introduction of the brand to the Customer. The brand’s image can be made or broken through this and therefore needs to be carefully planned. Buying on impulsive is likely to be more frequent in a warm and organised atmosphere.

This kind of organised retail in shopping malls is still a novel idea in India. Few Professionals are available with experience in the field to manage it. There is lack of exposure to the finer aspects of retailing and managing retail realty. It is hard to employ retail Professionals with experience for both Retailers and Developers. To help us to learn, we need to import the knowledge, processes and procedures and for a long term solution, invest in training and making professional courses in order to obtain a suitable pool of talent.

There are innumerable opportunities for Retailers and Consumers given the size of the Indian Retail Market and the increased consumption expenditures and retail sales. The choice of a mall to shop in might become the problematic decision for the Consumer. As there are raising incomes and induction of Western lifestyles, quality and experience matter the most. High Quality and Standards of Services will create a Lasting Impression on the Consumers.

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Monday, 14 November 2016

Elegant crockery display add charm to your house

Elegant crockery display add charm to your house

Displaying your crockery in the right way will add to the charm of your home. Getting a crockery unit will not only enable you to show off your collection but also to protect it from dust. Having one made to suit your particular requirements is also affordable if you utilize the right material. You need not have to stretch your budget to procure a good-looking as well as useful unit for your crockery. A visit to second-hand shops may be able to get you a cheaper crockery unit which is in good condition if you so desire. You can also have glass shutters and mirror-backed shelves.

Using quality wood for making the crockery unit will be expensive. Therefore, use of Laminated plywood provides a good finish to your crockery unit and it is not expensive. Particle board is another material which is reasonabley priced with outstanding features. It lasts long so long as it is utilized indoors and in places which are free of dampness. A unit made of this material can be painted to get elegance. Imported particle board units with better finish also are available in the market. Famous companies often use particle board of graded density to make high-quality units which combine good look with usefulness.

If you go in for a built-in unit you can have it in the kitchen for the best advantage. The right kind of lighting is the next requisite for an affordable crockery unit. You need more caution and better lighting while handling fragile crockery, so it is better to include a few lights in it. You can have battery-operated ones and install them yourself. It will become more pleasant looking with built-in lighting as well.

A sideboard can be used in place of a crockery cupboard. Dining room is the best place for placing a sideboard. This will serve for storage as well as space for serving food. Keeping serving dishes on the top along with some knick-knacks and a lamp would be a practical idea. The same choices in material can be used in this too as you used for the crockery unit. To add a touch of elegance, add glass fronted shutters. Drawers too will make it more functional for keeping cutlery, table mats and other items. If you have a concrete built-in unit you can clothe it with polished stone for a smooth finish.

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