Tag Archives: CREDAI Delhi NCR

Property exhibitions saviour during festivals-II

Posted on by Track2Realty

By: Ravi Sinha

CREDAI Delhi NCR, Amrapali Group, Anil Sharma, India real estate news, Indian realty news, Property new, Home, Policy Advocacy, Activism, Mall, Retail, Office space, SEZ, IT/ITeS, Residential, Commercial, Hospitality, Project, Location, Regulation, FDI, Taxation, Investment, Banking, Property Management, Ravi Sinha, Track2Media, Track2RealtyTrack2Realty Exclusive: A Delhi-based brand strategist says property exhibitions are more about BTL (Below the Line) brand positioning. Requesting anonymity, he maintains that footfalls are not necessarily translated into actual buying. Even the sales figure that developers so glorify out of the property fest is, more often than not, accumulative sales figure of the given period.

“I am not against property fests per se. It is good actually for meeting the prospective buyers, investors and even within the peer group. But then such platforms are actually B2B (Business to Business) forums. To assume that a property exhibition is a catalyst to sales drive or revival of the market is far from reality. But yes, it is one of the best tried and tested brand drivers in real estate business,” he says candidly.

Manju Yagnik, Vice Chairperson, Nahar Group, however, gives another dimension to property exhibitions. According to her, such fests offer a great opportunity for the home buyers to understand the state of the art development of the real estate sector at different locations. World over, property exhibitions serve two purposes; one, they showcase the latest innovations and improvements that enables customers to make an informed decision.

Second, exhibitions also offers various developers to showcase their own growth in terms of new destinations and value additions they have brought in with a view to gain more satisfied customers.  With great success of exhibitions organized by various forums, it has now emerged as a benchmark in the industry.  A series of advertisement campaigns during the property exhibitions has resulted in changing market sentiments.

“Initially when property exhibitions were introduced, the number of footfalls recorded then was good. But these footfalls were not necessarily converted in to sales. However, in the recent past, property exhibitions have emerged as a business platform in the real estate and many deals have started happening during the exhibitions. We have seen some of the developers entering into a mega corporate deals during the mega property exhibitions. Analysts too have begun visiting the mega exhibitions to gauge the trend in the real estate market and to prepare a report on its basis,” says Yagnik.

…to be continued

CREDAI NCR committed to give facelift to sector

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By: Dr Anil Sharma, President CREDAI NCR

CREDAI Delhi NCR, Amrapali Group, Anil Sharma, India real estate news, Indian realty news, Property new, Home, Policy Advocacy, Activism, Mall, Retail, Office space, SEZ, IT/ITeS, Residential, Commercial, Hospitality, Project, Location, Regulation, FDI, Taxation, Investment, Banking, Property Management, Ravi Sinha, Track2Media, Track2RealtyTrack2Realty Exclusive: We all understand that real estate needs a facelift and brand management from the industry standpoint. The sector has indeed come a long way in the last around ten years but we still need to work on the trust deficit in the sector.

For us, like any other business, buyers’ interest is important and hence immediately after taking over as the President we have clearly outlines the objectives and focus of CREDAI NCR. For the outstanding growth of real estate sector we have a charter plan in place.

Our first and foremost objective is to improve the credibility of our Association through transparency, fair dealings, redressing the disputes fairly and speedily. Implementation of the law of the land, creation of better environment in real estate Industry and simplification of tax structure is what we aim to achieve.

CREDAI NCR has already got the charter of Code of Conduct signed by its member developers and is being followed by them. This is being implemented with a view that it will bring in transparency and uniformity to the system. It will help the buyer to fairly evaluate the various proposals before he decides to buy the property.

Besides, CREDAI NCR has started a consumer grievance redressal forum to resolve any sort of dispute which may arise between its member developers and their respective customers. I am happy that this system got a very good response and we have been able to resolve more than 90 percent cases till date.

Within the CREDAI NCR we are also discussing ways & means to provide affordable housing. For affordable housing, costs have to be reduced. Major costs are land, taxes, easy availability of finance at reasonable rates and speedy implementation of the project.

Since land cost are very high in A and B grade cities, one way to reduce this cost is to increase the FAR and density allowed for development of the project. However, for this meticulous planning is required by the local authorities for implementation of adequate infrastructure facilities.

There are various taxes imposed by the central and state government. They vary from state to state and are not simple to implement. These contribute to a major chunk of the cost and are very cumbersome to implement. This need to be simplified and we are encouraging towards single taxation source.

For easy availability of finance at reasonable rates financial institutions should work towards a system which will ensure that the finance provided is utilized for construction of affordable housing in reasonable time.

Environment Ministry has also been cracking down hard on infrastructure and real estate projects. Compliance of the appropriate environmental regulations is necessary in order to preserve our scarce natural resources and to provide a clean environment is essential. The developer community is all for having proper norms in order to safeguard the environment. What we are against is redundant approvals and duplicate red tape.

We should have uniform norms across all the states. These should be simplified and be practical for implementation. There are certain norms which need implementation at the local body /local surroundings and certain norms which are specific for the project. The developer should be made responsible for implementation of the project specific norms only.

Besides clearance/approval of environment before commencement of construction activity is very time consuming which adds to the cost and delays in project implementation. Government is providing incentive for the green building project which is a welcome step and we will promote this initiative.

Input prices have been showing a northward trend in this supply constraint market. CREDAI has limited role in addressing the cost of inputs. In fact our members compete against each other for resources. At CREDAI level, we try for better exchange of information between members, better dissemination of new construction technologies and construction practices. We also at times look at getting into preferred partnerships with some vendors.

Despite of all these odds, CREDAI NCR is committed to give brand facelift by having better transparency with the customer, improve the credibility of the real estate sector with the customer and the government, conserve scarce resources by developing eco friendly projects, follow professional business practices, get involved in corporate social responsibilities (CSR), work with the government for providing single window clearance thereby reducing the clearance time, reduce the taxation burden on the real estate sector and increase the tax revenues by involving more tax payers, provide more jobs to the needy section of the society, provide affordable housing to the common man and work towards implementation of environmental norms.

Policy advocacy desirable yet debatable in realty-II

Posted on by Track2Realty

CREDAI Delhi NCR, Amrapali Group, Anil Sharma, India real estate news, Indian realty news, Property new, Home, Policy Advocacy, Activism, Mall, Retail, Office space, SEZ, IT/ITeS, Residential, Commercial, Hospitality, Project, Location, Regulation, FDI, Taxation, Investment, Banking, Property Management, Ravi Sinha, Track2Media, Track2RealtyTrack2Realty Exclusive: Realty is predominantly a regional business, primarily on account of land being a state subject. Therefore it is a tough task for one single body or association to represent the views and opinions of all stakeholders in the sector.

Some sector analysts assert that few realty associations and public interest bodies such as RICS are all working at some level in the same direction to improve dealings within the sector, albeit the medium used to communicate these views vary.

They insist at the end of the day, it is not necessary for there to be one voice in the industry, as far as the message is the same and consistent across any one whom delivers it. The question remains—has the voice been one?

Harmit Chawla, Managing Director of HCorp Realty rather questions the intent and seriousness of the developers’ respective bodies in their approach to policy advocacy.

According to him, in this dog-eats-dog business environment of real estate, any serious approach to policy advocacy is a misnomer since policy advocacy by its very essence is aimed at creating a level playing field which won’t suit the bigger players in the fray here.

“Policy advocacy is the second level in the growth curve of a business. When lack of regulation, transparency and absence of professionalism suits the business model of the sector at large, then why will they get a patient hearing by the policy makers? The point is you ask the government to grant you all the fancy wish list but not keep a track of your shady functioning. If the sector gets really serious with its causes and concerns, then only the government will show you seriousness. For instance, asking for industry status that will ease many bottlenecks, including bank finance, but not being monitored by a regulator is like contradicting your wish list and making the sector appear greedy,” says Chawla.

Therefore, it is not just desirable but necessary for the sector to create enablers of change, where all industry bodies and associations need to communicate the same message.

All stakeholders need to ‘walk the talk’ for the larger benefit of the sector. If it is automobile or telecom, any industry analyst knows who acceptable faces of the industry are and what the common cause is. Does acceptable voice and common agenda exist in realty?

…..to be continued

CREDAI-NCR aims to regulate secondary transactions & property brokers

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CREDAI Delhi NCR, Amrapali Group, Anil Sharma, India real estate news, Indian realty news, Property new, Home, Policy Advocacy, Activism, Mall, Retail, Office space, SEZ, IT/ITeS, Residential, Commercial, Hospitality, Project, Location, Regulation, FDI, Taxation, Investment, Banking, Property Management, Ravi Sinha, Track2Media, Track2Realty Track2Realty: The NCR chapter of realtors’ body CREDAI said on Saturday, April 13, it will direct developers to disclose both saleable and carpet area in their brochure and is considering measures to regulate brokers who are engaged in mis-selling projects. It also claimed to put a check on the secondary sell by speculators.

In this direction CREDAI-NCR plans to boost end-user demand in housing by imposing lock-in-period for re-sale and higher transfer charges.

Announcing the new team for 2013-15, CREDAI-NCR President-elect Anil Sharma, the Chairman and Managing Director of Amrapali Gtroup, said, “A new team has been formed. We will focus on consumer awareness and consumer redressal,” Sharma told reporters while listing out his priorities for the next two years.

CREDAI-NCR has already formed a consumer redressal forum last year and has so far received about 700 complaints and claims to resolve around 650 cases so far.

Asked about non-disclosure of carpet area by developers in their brochure and application form, he said: “We will ask our members to disclose saleable as well as carpet area and also method used for calculation of such areas”. The saleable area is built-up area plus common area, he added.

On the brokers’ mis-selling products, Sharma said, “We have come across situation where some of the brokers are not providing full information to buyers. The governing council will take up the matter how to regulate them.”

Asked about rates being lower in the secondary market compared with developers’ price-list, Sharma said this is because of investors selling their units with some premium.

In order to curb investor demand and encourage end-user demand, he said the association would consider steps like lock-in-period for re-sale and higher charges for transferring the property on some other name.