Rooms With Sloped Ceilings

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

Include only the portion of the room where ceiling height is at least five feet. To be included
at all, a minimum of one half of the finished area of the room must have ceilings at least
seven feet high.

Squares and Rectangles

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

To calculate the area of a triangle, multiply its base length by its height and divide that figure
by two.
How to Determine the Number of Acres in a Square or Rectangular Shaped Property

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

Example: If you have a rectangular property that is 660 feet wide by 1320 feet long, then you
would multiply the length (1320 feet) times the width (660 feet) to calculate the total number
of square feet in the property. Then to determine the amount of acreage, just divide that
number by the number of square feet in an acre, which is 43,560. You get 20 acres in a
property that is 660' x 1320'.

Here is the basic answer...

660 feet x 1320 feet = 871,200 square feet

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

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

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

Landscaping refers to any activity that modifies the visible features of an area of land. In
terms of accruing to a possible estimation of the varied implications of the word, here's
Indiahousing offering information on Land Scaping. It includes living rudiments (flora and
fauna), natural elements, terrain shape and elevation, or water bodies, and abstract and human
elements. The last mentioned comprises housing, fences and boundaries - all of which we're
concerned with in this site.

1 Hectare = 2.5 Acres 1 Acre = 40 Gunthas 1 Guntha = 121 sq.yards = 101.17 sq.metres 1 Guntha = 33
ft. x 33 ft. = 1089 sq.feet 1 Acre = 4840 sq.yards 1 Acre = 4067.23 sq.metres 1 Acre = 43,560 sq.feet 1
sq. yard = 0.8361 sq.metre 1 sq. metre = 1.190 sq.yards 1 sq. yard = 9 sq. feet 1 sq. metre = 10.76
sq.feet

Realty firm Ansal Properties and Infrastructure (Ansal API) is all set to invest around Rs
4,500 crore to develop the second phase of its 2,500 acre hi-tech city adjacent to Greater
Noida. According to reliable sources, the real estate firm will soon announced launch of the
second phase of its integrated township ‘Megapolis’ at Dadri covering an area of 650 acre.
Here, the real estate firm would offer 1,900 plots and build around nine million sq ft each of
commercial and housing space. The project cost for the second phase is estimated to be
around Rs 4,500 crore. In the year 2008, Ansal API bagged a hi-tech city project from the
government of Uttar Pradesh. This hi-tech city would consist of a medi-city, one 18-hole
signature golf course designed by Nick Faldo and an education city, apart from equestrian
and polo facilities. The real estate company will construct four hotels in three and five star
categories, consisting about 250 rooms in each hotel. Moreover, it will also abode five
shopping malls.

09.25.10

The well-known Emami Group of Companies, with core competence in healthcare and
personal consumer products and FMCG.The thrust will be on the residential segment.”
current market capital of Rs 7,000 crore – is scaling up its pan. we are doing a Rs 2,000-
crore, 1 million-sq ft condo complex in Mumbai and high-end residential projects in
Hyderabad and Coimbatore

09.18.10
In the recent years, sale of high-end luxury homes in big cities has hit an all time low
forcing real estate developers to target small towns and cities. Godrej Properties Ltd.
launched a high-end residential luxury project in August this year, each of its 245 apartments
priced at Rs.80 lakh to Rs.1 crore. Raheja Universal Ltd is also constructing a sea-facing
property in Mangalore within a same price bracket. And Raheja Waterfront and Godrej
Avalon are among half a dozen of luxury housing projects coming up in the coastal cities of
India. Real estate developers are testing luxury housing projects in small towns and cities as
sales of high-end luxury homes in big cities like Mumbai and New Delhi have hit a low this
year, mainly because of hike in prices and low appetite. The average cost per apartment in
Mumbai and Greater Mumbai is Rs.2 crore, and about Rs.1.97 crore in Gurgaon, a prime
Delhi suburb

Latest housing projects in Mumbai have emerged as the only solace for the thousands of people
living somehow in the city. Any other means to get a home within the territory is simply out of the
question for a majority of them because of the enormous capital values of prime properties in the
city. The whopping appreciation in the market values of real estate in Mumbai has made some
areas costlier than even New York and London! Hence, It is the cheaper options being brought by
the latest housing projects from time to time that are keeping the hope of owning individual homes
alive for a major section of the population. Thus the execution of a housing project in Mumbai is
waited passionately and is received wholeheartedly.

Since the latest housing projects are planned taking into account the needs and income levels of the
various social sections, it has become convenient for a resident in the city to find a suitable
accommodation within his/her means. The types of houses, however, vary according to the nature
of the project. While the basic amenities are found universally in all the housing projects, some
special facilities, which have become a symbol of lavish and luxurious lifestyles, are the benchmarks
for the projects targeting at premium category. Hence, the most recent housing projects in Mumbai
 are benefiting all the categories of people.

New Residential Projects in Mumbai

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

 Yogi Dham III at Kalyan: residential project for flats
 Shikara Estates at Panvel: new residential project consisting of apartments of varying
bedroom combination.
 Zircon - Amethyst: developed by Nirmal lifestyle at Mulund, the residential property offers
a combination of two and three BHK apartments.

Upcoming Residential Projects in Mumbai

 Orbit Grand: A 35 storey residential tower located in Lower Parel and providing a spectrum
of housing solutions in the form of studio apartment and 2/3 bedroom flats.
 Orbit Heaven: This residential tower has 33 stories and is comprised of duplex apartments
and penthouses.

New Housing Projects in Mumbai

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

stories; a variety of housing solutions in the form of 2,3,4 BHK apartments, duplexes and
penthouses will be made available by the builder.
 Godrej Waldorf: This 16-storey residential project will offer luxurious housing
accommodations in the forms 3 BHK apartments, duplexes and a penthouse on the top. It is
located in Andheri.
 Godrej Riverside: It is the latest from Godrej Properties that comprises two towers facing
the picturesque Gandhar river. This upcoming residential project aims at providing plush
housing accommodations in Kalyan.
Builders in India Achievers Builders
Adarsh Developers Alpine Group Ansal
API Ansal Buildwell Ansal Housing Ansal
Plaza Ansals Appaswamy Real Estates
Arun Dev Builders Ashiana Builders
Developers Ashiana Housing BPTP Real
Estate B Raheja Bearys Group Brigade
Group Bangalore Chaitanya Builders
Chennai Confident Group CREDAI D S
Kulkarni DLF Group India Dwarkadhis
Builders Eldeco Infrastructure Group
Emaar MGF Eros Group Future Group
Gaursons GMR Infrastructure Godrej
Properties Goel Ganga Group HDIL HDIL
Issue Hiranandani Real Estate HUDCO
Jaipuria Group Jaypee Group JMD Group
K Raheja Universal Kalpataru Group
Kanakia Group Kolte Patil Developers
Kumar Builders M Tech Developers M2K
Developers Builders Mahagun Builders
Mahindra GESCO Developers Mapsko
Group Mont Vert Builder Developers Navin
Housing Oberoi Constructions Omaxe
Group India Panchshil Builders Parsvnath
Builders Piyush Group Prestige Builders
Prestige Homes Purvankara Pushpanjali
Builders Raheja Developers Sahara
Infrastructure Shapoorji Pallonji Shipra
Group Shipra Real Estate Shriram Group
Larsen-and-Toubro Sobha Builders Sobha
Developers Supertech Builders Developers
Tata Housing TDI Constructions TDI
Developers Triveni Infrastructure Group
Unitech Group India Vascon Engineers
Vatika Group Vipul Group
Mumbai Real Estate Market News
Mumbai Real Estate Market News shows some of the biggest names in the realty industry in India.
Mumbai being the trade capital of India and the most desired property destination for the real
estate property hunters has attracted major builders and developers not just in India but also the
foreign collaborators.

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

Mumbai housing the top MNC's and business conglomerates and also the entertainment and
Bollywood industry witnesses a large number of immigrants everyday. This has led to a never
ceasing demand in the realty sector that is being engulfed by the real estate developments dragon.
Some of the Top Builders in Mumbai namely Hiranandani Constructions, Kalpataru Builders &
Developers, K Raheja Constructions, Shapoorji Pallonji & Co Ltd, Ansal API Builders, D S Kulkarni
Developers, Oberoi Constructions, Vascon Engineering, Panchshil Realty Group, and Godrej
Properties etc are creating huge residential, commercial and industrial projects to fulfill the
demands of the Mumbai Property market.

 The Real Estate Market News in Mumbai clearly indicates a market trend of an exceptional increase
in offices and commercial units requirements. The demand of office spaces in Mumbai is primarily
driven by the IT/ITES, finance, telecom, pharmaceutical and insurance sectors.

By the end of 2009-2019, the estimated supply of office units is expected to reach a whopping 23.68
million sq. ft. Out of this around 33% would be contributed from the western sub-urbs of Bandra-
Kurla Complex, Andheri, Goregaon and Malad and 27 % from the central sub-urbs of Kurla, Wadala,
Ghatkopar, Thane, Kalyan etc. The office spaces being constructed consist of large built-to-suit office
spaces or SEZ's and also huge office complexes for the large MNC's and corporate houses.

In the residential segments, the Mumbai Real Estate Market records the maximum realty rates in
India in certain areas like Cuffe Parade, Marine Lines, Nariman Point, Malabar Hills, and Nepean Sea
and in South Mumbai and Khar and Santacruz in western sub-urbs. More economical residential
realty options are available in Mahim in South Mumbai, Kalyan and Ambernath in Central Mumbai,
Panvel and Kalamboli in Navi Mumbai and Mira Road, Bhayander, Vasai, Nallaspora and Virar in
western sub-urbs.

Besides these, the Mumbai realty news also gives you the trend and pattern of latest development
and construction projects going on in Mumbai, the residential units being created, the ongoing
property rates, the real estate market trends being followed by the Mumbai Property Dealers, the
rental and leasing prices for Mumbai and options available to the investors and property seekers.

MHADA Versova
Maharashtra Housing & Area Development Authority (MHADA) has been offering decent
housing opportunities in Mumbai and its suburbs. MHADA was envisioned to provide fair
housing to Low Income Group (LIG) and Middle-Income Group (MIG).Accordingly,
MHADA has succeeded not only in providing the housing facilities to the target groups, but
also have laid emphasis on value added services like electric supply, water supply,
 recreational facilities.One of the important hallmarks of MHADA has been to ensure that
undertaken constructions are environmentally friendly. In actual terms, MHADA has made
Flats in Mumbai accessible to the common residents with an affordable budget.After
elevating the housing conditions of the deprived classes in Mumbai, MHADA has
undertaken the development of Houses, flats in plush localities like Versova, Oshiwara etc to
cater the housing needs of the high-income group in Maharashtra. Mumbai Real Estate
Experts have welcomed this as a departure from the conventional projects that had been
undertaken by MHADA so far in Mumbai and Maharashtra as a whole.

It has been noted that despite of the Government's plea, Private housing Companies have not
really made houses that could financially be affordable for the LIG and MIG. However,
MHADA offered a platform to provide decent housing to the LIG and the MIG. Over the
years since its inception in 1977, MHADA has incorporated the changing times to cater to a
wider audience.

Recently, MHADA announced its most expensive housing project ever in Mumbai in
Versova to be directed at the higher income group. This MHADA Versova housing complex
would have all the exquisite value added services and amenities like swanky clubs,
swimming pools, recreational centers etc to match the affluent lifestyle. What appears
striking is that though this is the most ambitious projects of MHADA so far, the flats
provided would be two and three BHKs with the prices that are very much lower than the
ones commanded by the private Housing Companies.

That would make MHADA flats command approximately Rs 50 lakhs in glamorous

Versova. Property Dealers in Mumbai opine that investing in MHADA flats is very judicious
as flats in plush localities are available at affordable rates. One can notice a very common
trend in the Real Estate and the market of Mumbai Properties that people buy MHADA flats
that available at an excitingly lower rate and then with the services of Interior Decorators,
augment the price of the flats, thus enjoy the dividends in the terms of the re-sale value of the
house.

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

Nevertheless, many property and homebuyers in Mumbai have been attracted to this project.
MHADA has undertaken plush constructions in Versova to offer chic and lavish
accommodation at affordable rates so that even middle class can augment their housing
conditions. Apart from Versova, MHADA apartments and houses in the adjoining areas like
Sion, Malad, and Goregaon have received a favorable response from homebuyers.

MHADA Lokhandwala
MHADA Lokhandwala has been an important Housing Project for MHADA since it marks a
distinct shift from constructing LIG and MIG Flats. MHADA Mumbai has undertaken the
construction of plush Flats in Lokhandwala for the High-Income Group. These Flats and
Housing are being constructed on the lines of private residential colonies in Mumbai, in
terms of excellent amenities, swanky constructions to attract high end and the elite class.
Once a marshy area in Andheri, Houses in Lokhandwala are synonymous with chic
 ambience and luxurious surroundings. MHADA Lokhandwala is one of the New Projects in
which the High Income Group has been targeted.

Property Dealers claim that it is profitable to invest in MHADA Flats in localities like
Andheri, Bandra, Versova or MHADA Houses in Lokhandwala. This is so because; these
localities command exorbitant Housing Prices as far as Homes and Flats by private Builders
are concerned. However, MHADA Lokhandwala or MHADA Versova Houses for that
matter, offer excellent Homes at affordable rates.

Many MHADA Homeowners agree with Real Estate Consultants that these MHADA Flats
in Andheri, Sion, Bandra, Kurla, Mulund provide rich dividends later.

Indiahousing.com offers comprehensive articles that cover the activities of MHADA in

Mumbai like Lokhandwala, Bandra, Versova etc.
Maharashtra Housing and Areas Development Authority, (MHADA)
Griha Nirman Bhavan,
Bandra (E),
Mumbai - 51

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

Fax:( 91-22) 6402058
Email:mahada@bom3.vsnl.net.in
Website:http://www.mhada.com/

MHADA New Projects

 MHADA New Projects have incorporated efficiency in their attempt to rehabilitate the
slums and create housing options to various economic sections. MHADA- Maharashtra
Housing & Area Development Authority, was formed under the MHADA Act of 1977 in
order to facilitate Housing, Reconstruction and Maintenance in Mumbai and
Maharashtra.MHADA New Projects cover Mumbai, Pune, Chandrapur, Solapur and other
districts in Maharashtra to make affordable and decent housing possible. MHADA Projects
in Mumbai has undertaken strategic steps by building homes for all the sections .For
instance, MHADA Versova, Lokhandwala and Oshiwara cater to the High Income Group
sections as the HIG Flats in these locations have all the plush amenities and excellent
Facility Management.

MHADA New Projects in Mumbai

A look at MHADA New Projects makes it clear that slum rehabilitation has been taken very seriously
by MHADA Mumbai as many programs are being implemented in localities like Matunga, Wadala,
Shivdi, Worli, Mazgaon etc. Besides many new projects are being undertaken in Sion, Bandra-Kurla
Complex to cater to the growing commercial space as well as Flats and MHADA housing.

One of the prominent MHADA Projects is the township programs like that of in Bhabrekar Nagar.
Bhabrekar Nagar is located in the Northwestern suburb of Kandivali and MHADA Recent Projects
are aimed to rehabilitate the area and install decent housing and infrastructure.

Indiahousing.com recommends that, in order to avail various MHADA Housing Scheme, it is very
important to be abreast of all the latest MHADA New Projects.

Maharashtra Housing and Areas Development Authority, (MHADA)

Griha Nirman Bhavan,
Bandra (E),
Mumbai - 51

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

Fax:( 91-22) 6402058
Email:mahada@bom3.vsnl.net.in
Website:http://www.mhada.com/

MHADA Act 1976

MHADA Act 1976 has been instrumental in the formation of MHADA- Maharashtra
Housing & Area Development Authority. The MHADA Act 1976 primarily was the result of
the Housing issues that had began to resurface in an urban situation as in Mumbai that was
quintessentially gripped with migration, commercial activities and scant Housing resources.
However, it has to be understood that prior to 1976, almost 4 statutory bodies and
organizations were operational namely the Maharashtra Housing Board ,the Vidarbha
Housing Board ,the Mumbai Building Repair and Reconstruction Board ,the Maharashtra
Slum Improvement Board, that undertook Housing Scheme ,Slum Improvement, Planning
and urban Development. However, as these issues are strongly related to one another,
 
eventually the need for consolidated efforts in these directions was strongly felt.

MHADA Act 1976 made the amalgamation of the above mentioned statutory agencies into a
single body to manage the Housing, restructuring and develop scheme and solutions to
issues like pollution, ecology, over-crowding etc. Under the MHADA Act 1976, MHADA is
divided into Mumbai Repairs and Reconstruction Board, Mumbai Slum Improvement Board
and Regional Boards that cater to the areas like Nasik, Pune ,Aurangabad, Konkan, Nagpur
etc. Thus, MHADA was formed in 1977 under the Act of 1976. Indiahouing.com offers the
link so that more information can be gathered regarding MHADA Act 1976.

Real Estate - Interview FAQ's

Congratulations! You've landed an interview, a tough hurdle in finding a job. It means your
resume stood out among countless others. Now comes the nerve-wracking part - the actual
interview. Sure you're jittery. It's natural. But there are steps you can take to minimize those
feelings by being prepared.

Preparation means anticipating interview questions. Here are some frequently asked
questions. Remember, each question presents an opportunity to sell yourself.

Tell me about yourself?

 Before going in to any interview, prepare a two-minute bio and rehearse it until you're
comfortable.
What are your strengths and weaknesses?

 The interviewer wants to hear how your strengths match the needs of their firm. Have
two or three strengths in mind before an interview. It's best to speak of one or two and
offer examples of how you used them, and how you learned them. Tread lightly on
conceit. Turn weaknesses into strengths and tell the interviewer how you are working
to improve this weakness. For example: 'I've gotten a bit rusty in my hands-on
production skills since becoming manager. Now I spend my time....'

Where do you see yourself in five years?

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

Why should I hire you?

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

Why do you want to work here?

 The interviewer is looking for enthusiasm. Convey your interests to key components
of the job, or being part of an important project. Tell the interviewer you like the
company's size, aggressive market stance or creative business.
 Now that the interviewer has concluded with his/her questions, you can breathe again.
Don't exhale yet. It's your turn to ask the questions. What, no questions? If you don't
have any questions, the interviewer will likely be left with these impressions of you:
o You're not really interested in the position or the organization.
o You're so lazy you couldn't be bothered to put any thought into it.
o You're so desperate you'll go anywhere.
 This is another opportunity to 'sell' yourself. Prepare a few questions ahead of time.
Always be positive. Questions asked should focus on gaining more information about
the job, such as who held the position prior, or how many people report to the boss?

Example Questions

 What projects will I be involved with in the first few months?

  How does your company stand apart from its competition?
 How do you see the future of this industry?
 I noticed in your annual report that your firm has made several acquisitions. Will this
aggressive business stance continue?

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

FDI in Real Estate

Real estate industry, in India, is growing at a whopping rate of 30% for last few years.
According to the survey by FICCI, the magnitude of real estate industry in India is of US$ 12
billion. The double digit growth of this industry is primarily ascribed to the BPOs, Call
centers, Retail industry and other IT industries. In India, 80% of the real estate developed is
residential areas and rest 20% includes office spaces, shopping complexes, hotels, and
hospitals. Policy makers have recently decided to stress on flourishing proper infrastructure
for the country. In this process, they have decided to liberalize the FDI policies to attract
large investments.

In recent time, the progressive economic policy on FDI norms has been the most significant
decisions taken by central government. Prior to it, only NRIs and persons of Indian origin
were allowed to invest in the real estate & housing sectors. Foreign investors were allowed to
invest in integrated townships and settlements only. They were permitted to invest either
through a wholly owned subsidiary or through a joint venture company in India along with a
local partner. The ultimate effect of all these restrictions on foreign investors was the slow
rate of expansion of infrastructure.

Rise of Indian Real Estate

Indian Real estate has been on rise from last few years. The total amount of FDI inflow has
been continuously increasing and along with it the percentage of FDI in real estate sector is
also increasing. The total FDI has manifolded almost four times, from US$ 2.70 billion to
about US$ 8 billion, during the financial period of 2003-07. This sudden boost in real estate
FDI is mainly due to the progressive government norms. Here is the tabular form of the data
of total FDI in India and the percentage of real estate sectors in FDI.

Real Estate Percentage

Financial Year Total FDI Inflow
in Total FDI
2003-04 US$ 2.7 billion 4.5%
2004-05 US$ 3.75 billion 10.6%
2005-06 US$ 5.46 billion 16%
2006-07 US$ 8 billion 26.5%

Advantages of FDI
  The biggest advantage of FDI in the real estate sector would be towards making this
sector organized.

 Arrival of major investors will help in increasing professionalism.

 A healthy and competitive market environment will be created for domestic as well as
foreign investors.

 With the entrance of foreign investors, it will be easier to use the latest and superior
technology which will definitely help in increasing the quality in real estate.

 FDI Investment Policies

Foreign direct investment (FDI) is not mere investment by the foreign companies in different
sectors of a country rather it is now considered as an integral part of national development
schemes for all the countries. The direct effect of FDI on a country's economy is pronounced
by the growing output in augmenting of domestic capital, productivity and increased
employment. The global popularity of FDI has made it an essential tool for initiating
economic growth for nations.

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

India has been one of the most progressive & transparent Foreign Direct Investment (FDI)
governments among developing countries. FDI played a major role in contributing to the
overall growth of the economy of India in the recent years. The liberal decisions taken by
government on FDI issues has opened the gates for the foreign investors. The real estate
sector is hugely affected by these policies as this sector is flooded by the investors from all
parts of the globe.

FDI Policies in Real Estate

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

 For different projects the minimum area to be developed will vary as follows:
o A minimum of 10 hectares of land in case of development of serviced housing
plots.
o A minimum of 50,000 sq. mts in case of construction development projects.
o Either of two conditions defined above would satisfy in case of combination of
the above two projects.
  The minimum amount to be invested will be different for wholly owned subsidiary
companies and for joint ventures with Indian partner/s. The capital would have to be
managed within 6 months of beginning of business of the company.
o A minimum of US$ 10 million will be required for a wholly owned subsidiary.
o A minimum of US$ 5 million for joint ventures with Indian partner/s.

 The investors aren't allowed to repatriate the original investment prior to a period of
three years. Though they may be allowed to exit earlier with prior approval of the
government through the FIPB.

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

 They would not be allowed to sell under constructed plots where conveniences like
roads, water supply, street lighting, drainage, and sewerage aren't provided as
prescribed regulations. They would have to provide these infrastructure and receive
the completion certificate from the concerned local body/service agency. Then they
would be allowed to dispose the serviced housing plots.

 The investor shall be responsible for getting the essential approvals prescribed under
applicable rules/bye-laws/regulations of the State Government/Municipal Body/ Local
Body concerned.
o Building/ layout plans
o Developing internal and peripheral areas and other infrastructure facilities
o Payment of development, external development and other charges.

 Preferred Indian Destinations

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

Apart from the contribution from these established and well defined sectors, the liberalized
FDI policies of the government have opened gates for investments in several other sectors.
Sectors like retail, hospitality, telecom services, development of new airports, power trading,
laying of natural gas pipelines, petroleum infrastructure and warehousing of coffee and
rubber are favored sectors for investment.

Classification of Cities on Realty Values

Almost 70-80% of the commercial real estate space is occupied by the above defined sectors.
Due to the large absorption by these industries defined above, the total commercial space
absorption in India has gone up to almost 15 million sq ft in 2004 from 8-9 million sq ft a few
years ago.

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

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

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

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

The growth of IT/BPO sector is likely to continue in the near 8 to 10 years in India. The real
estate investors from India and abroad are establishing operational bases in the Tier I and Tier
II cities. These companies are searching options in tier II and III cities to fulfill the widening
gap between the demand and supply of residential and commercial properties in India.

Indian Realty Destinations

The primary investments in the corporate sectors are focused in the premier cities of India
like Delhi, Mumbai, Bangalore, Chennai, Kolkata, Hyderabad, Gurgaon, Chandigarh, Pune
etc. These cities are most favored for establishing IT firms, BPOs, Retail firms and other real
estate developments. The last few years has seen ample growth in real estate development.
The realty prices in these cities have also heightened in recent time.

Investors like to invest at those places where there is a planned outlay of city and proper
infrastructure. Delhi, Mumbai and Bangalore have been the obvious choice for the investors
for real estate investment. According to the estimation by industrial sources, by the end of
2008 the top eight Indian cities will require around 66 million sq ft of new retail space
through more than 200 proposed retail centers.

Delhi and NCR

Delhi and NCR are the most preferred destinations for the real investors in India. The basic
infrastructure and the standard of life provided are the main reasons for huge investment in
the IT and BPO sectors. According to a global market rents survey, Connaught place, the
heart of Delhi, is the seventh most expensive office centers in the world. The survey
conducted by real estate consultant CB Richard Ellis, reveals that Delhi is ranked second
among all the cities of world, with year-over-year rent growth of 79%.

A number of major Indian as well as foreign investors are currently running a number of
projects in Delhi and NCR. Main Indian investors include DLF, Unitech, Omaxe, Ansal,
Vatika, Ashiana etc. The foreign groups like Goldman Sachs, Morgan Stanley, Blackstone
group, JP Morgan etc. are running their projects in joint venture with Indian companies. The
emergence of Noida and Gurgaon as the hot properties have provided several options for the
investors.

Noida
Noida is turning into a major IT hub of the country. The city has groomed extremely fine
under well-defined master plan, superb infrastructure and good connectivity to Delhi. It is
rapidly changing into an investor's paradise both in the residential and commercial sector.
Above all the government's policies to invite investments has changed over Noida into the
ultimate destination for investors.

Gurgaon
Gurgaon has been among the favorite destinations for the investors in India for the last four
or five years. The biggest corporate offices and MNCs are working from here and others are
keen to open their offices. The infrastructure here is excellent and is close to Delhi.

Mumbai
Mumbai has been the financial & commercial capital of India since a long time. The real
estate prices in the city are at on a roll. According to a global market rent survey, Nariman
Point in Mumbai is the fifth most expensive office centers in the world. There has been a
large number of real estate investments in the retail and residential sectors in Mumbai. The
growth of the IT and ITES sector is reflected in the real estate boom in the satellite city of
Navi Mumbai.

Pune
Pune has emerged as one of the major IT, research and academic destination of India. IT and
retail are the key sectors of real estate in Pune that are prime factors responsible for its
transition from a solemn industrial city to a vibrant corporate city. Its close proximity to
Mumbai has made it a favorite spot for real estate investors.

The IT revolution in Pune has made it one of the most likely IT/ITES and BPO investment
destinations. Pune is attracting major investments in the residential sector. Top real investors
and developers are making most of this opportunity and are currently running several
township projects. A large number of foreign investors have entered into Pune through joint
ventures with Indian companies.

Bangalore
Bangalore is one of Asia's fastest growing cities with an annual growth rate of 3.5%. Over the
years, it has transformed itself from 'garden city of India' to 'Silicon Valley' of India. It is
evolving into a major Research and Development center. The city is riding on a IT boom and
is attracting huge property investments. The city has maximum number of software
companies in India and it accounts for more than 35% of software exports of India.
The infrastructure available is perfect and the standard of life is high class. All these factors
are attracting real estate investors to cash on into the demand for residential and commercial
properties in the city. As more number of companies are in the queue to open their offices in
Bangalore, the investment in real estate sector is likely to increase in near future.

Chennai
The transformation of Chennai from 'the automobile capital of India' to an important IT and
ITES hub in the recent years is just an example of the emergence of unlikely cities as the
most likely destinations in IT sector. Biggest MNCs and other giants of IT and retail sector
have chosen Chennai as their operational base. It is a boost in real estate in true sense as IT
companies are the major occupants of commercial spaces.

The infrastructure provided in Chennai is good and well-developed. The areas nearer to the
IT/ITES hubs have emerged as localities with major demand for residential development.
Velachery, Madipakkam and Tambaram are just a few names.

Top Realty Investors in India

ndia is among those developing countries whose annual growth rate is constantly going over
8% for last few years. In the recent years, India has been one of the most sought after
destination for the real estate investors. Investors from all over the world are looking towards
India to invest in different sectors of real estate. The big bosses of real estate investment
sector are either grasping the projects on their own or they are combining with small or
medium class companies to run huge projects. The biggest MNCs have already established
their business in major cities of India and some new companies are in row to start their
business as quick as possible. The booming economy of India and liberalized government
policies are responsible for sudden large investments in real estate sector.

India Realty Market Size

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

There are over 42 million sq. ft. of high quality retail space developed and under
development in metros and other urban cities across the country. The top global investors like
Morgan Stanley, Carlyle, Trikona, Blackstone, and Warbus Pincus are planning to invest a
total of US$ 12-15 billion in coming years.

Major Investments and Joint Ventures

Some of the major real estate business houses who are keen on ample investments are the
Philippines based Ayala & Signature group, Dubai based Och-Ziff Capital, EurIndia & Old
Lane. These are only few names to mention. Investors from other regions like US, UK, Israel,
Malaysia, Singapore etc want to be a part of the real estate story of India. These are some
major joint ventures which the foreigner companies have established with Indian real estate
companies.

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

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

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

 DLF and Hilton Hotels Corporation (HHC) declared a joint venture to develop around
75 hotels and serviced apartments over 7 years.

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

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

Major Players in Indian Realty Market

DLF: The DLF group is India's largest real estate company expanding at a rate exceeding
30% annually. The group is working on projects covering areas over 220 million sq. ft. and is
expected to start projects on 574 million sq. ft. in near future. DLF is operating its major
plans and projects in different cities of India including NCR regions, Chennai, Mumbai,
Kolkata, Hyderabad, Ahmadabad, Bangalore etc. DLF Joint Ventures are:

 DLF has finalized a joint venture with US-based hospitality major Hilton. In the next
six-seven years they will build 50 to 75 hotels and serviced apartments in different
cities in India.

 DLF and Fortis Healthcare have signed an Mo U for constructing 31 hospitals at an

investment of Rs 6,200 crore.

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

 DLF and Prudential International Investment Corporation are planning to set up a

joint venture in the near future for asset management.

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

In a short period of 5 years since establishment in 1987, the company has completed and
delivered 10 projects consisting of 8 residential and 2 commercial covering approx 5.13
million sq. ft of area. Currently the company has 46 projects under development comprising
19 housing projects,13 integrated townships,13 shopping malls and commercial complexes
and 1 hotel. In Northern and Central India, company is developing over 140 million sq ft of
saleable area across 30 towns in 9 states.

Unitech
Unitech Group is amongst the major township planning and real estate development
companies in India. The business portfolio of this group includes residential property
developments, leisure and entertainment projects, hospitality business and heavy
construction.

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

 Unitech group is the foremost amusement park developer in the country with two
major projects currently running and will probably finish in 2 to 3 years. The two
parks, spread over 200 acres, are situated in Rohini (Delhi) and Noida .

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

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

 Vatika Group build several high-class residential and commercial projects like Vatika
First India Place, Vatika Triangle, Vatika Atrium etc. The group is currently working
on three major commercial properties totaling over 1.5 million square feet.

 Vatika farms, Vatika greens, and Vatika woods created in the fringes of Gurgaon are
some of the trendy communities build by this group.

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

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

Ashiana Group
Ashiana Group is one of the leading real estate developers in Northern India. They have
concentrated only on housing development and build some quality residential projects. The
group has undertaken more than 40 lacs sq. ft of construction in residential and commercial
sectors.

 Some of their renowned and famous residential projects are Ashiana Villas, Ashiana
Gardens, Ashiana Gulmohar Park, Ashiana Suncity, Ashiana Enclave, and Residency
Greens.
  Ashiana group's unique project in Bhiwadi, Ashiana Utsav is a unique housing
project, first of its type in India providing a comfortable post-retirement life for retired
citizens.

GRADING OF REAL ESTATE DEVELOPERS AND PROJECTS

ICRA’s service of Grading of Real Estate Developers and Projects, by providing an independent
opinion on the relative performance capability of real estate development entities, seeks to serve as
a tool for identifying and managing the risks associated with the entities concerned. For the investor
(buyer of property), the Gradings communicate the risks associated with the developer’s ability to
deliver in accordance with the terms, quality parameters, and time stipulated. For developers, the
Gradings, by providing a scientific assessment of their abilities and risk profiles, serve to assist them
in presenting their case to lenders.

Grading Scale for Real Estate Developers:

DR1    Very strong project execution capacity

DR2    Strong project execution capacity
DR3    Moderate project execution capacity
DR4    Inadequate project execution capacity
DR5    Weak project execution capacity

Note:The suffix of ‘+’ or ‘-’ may be used with the grading symbol (from DR2 to DR4) to indicate the
comparative position within the group covered by the symbol.

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

RT1    Very strong project

RT2    Strong project
RT3    Moderate project
RT4    Inadequate project
RT5    Weak project

Note: The suffix of ‘+’ or ‘-’ may be used with the grading symbol (from RT2 to RT4) to indicate the
comparative position within the group covered by the symbol.

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

CT1    Very strong project engineering/project management services capacity

CT2    Strong project engineering/project management services capacity
CT3    Moderate project engineering/project management services capacity
CT4    Inadequate project engineering/project management services capacity
CT5    Weak project engineering/project management services capacity

Note: The suffix of ‘+’ or ‘-’ may be used with the grading symbols (from CT2 to CT4) to indicate the
comparative position within the Grading category concerned
CONSTRUCTION GRADING

Concept

ICRA’s service of Grading of Construction Entities is designed to provide lenders and sector
participants with an independent opinion on the quality of the entity Graded. The unique
Grading methodology developed for the purpose, encompasses all entities in a construction
project: the contractor, the consultant, the project owner, and the project itself. The service of
Grading, by providing an independent opinion on the quality of the entity Graded, is designed
to enhance the lenders’ confidence in the construction sector participants. Besides, the
Gradings may also benefit the participants by highlighting their competencies and helping
them stand out in a crowd.

Process

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

Overview

Investment in housing and property is beset by many uncertainties in the prevailing real estate
scenario. The investment and transaction decisions in this sector are characterised by
uncertainties due to low level of information.

NAREDCO's mission is to improve the confidence level of both investors and consumers by
bringing in fair practices through self- regulation. The rating of Real Estate developer and
project would enhance the comfort levels of the consumers while making investment
decisions, and also help developer to mobilise funds for their projects. A number of rating
mechanisms are available in the market, but their acceptance and adherence by the consumers
and developers is hindering the progress of real estate industry. The rating parameters
developed by NAREDCO on the basis of Haryana Model need to be widely discussed and
debated to bring quality products in the market, which can qualify for the top most grades. A
unique aspect of NAREDCO rating is the introduction of real estate industry experts in the
process of rating prior to assigning the grades by the rating agencies.

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

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

Credit Rating Information Services of India Ltd., established in 1987, has come a long way in
pioneering the concept of credit rating in India. Today, it is the market leader with dominant
share in the rating business in India and is instrumental in developing the framework and
methodology for rating rupee denominated debt obligations of Indian corporates and financial
institutions along with the debt issues of large infrastructure projects. Individuals,
institutional investors and lenders use CRISIL ratings as a benchmark for framing investment
and lending policies.

CRISIL as part of their rating service has developed rating methodology for the Real Estate
Sector and has completed a large number of projects rating across the country. NAREDCO,
being the apex body representing real estate sector, concern has been invited by government
to be the agency for rating the developers/ real estate projects, Based on this, NAREDCO
entered in a Memorandum of Association with CRISIL for carrying out rating of Real Estate
Projects and Developers. The methodology and symbols for the same have been developed
by CRISIL, in consultation with NAREDCO and National Housing Bank (NHB).