Tag Archives: JC Sharma

SOBHA forays into Gujarat with over INR 500 crore investment in GIFT City

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News Point: SOBHA Limited marks its foray into Gujarat market where the company will make an investment of over INR 500 crore towards residential development in Gujarat International Finance Tec-City (GIFT City).

Sobha Logo. Sobha Ltd, Bangalore real estate, India real estate news, Indian property market, Track2RealtyWith its footprint in GIFT City, India’s 1stOperational Smart City and International Financial Services Centre (IFSC), SOBHA increases increase its residential footprint to 10 cities in India.

Speaking on the occasion, Ravi Menon, Chairman, SOBHA Limited said, “Ahmedabad is a prominent business centre of Gujarat. It isthe second largest cotton textile centre in India after Mumbai with equally strong pharma, petrochemical and automobile industries. Rapid infrastructure development over the years has augmented the IT and ITES sectors as well tremendously, making it an important investment destination. These, together, have given a fillip to commercial and residential real estate market in the city. To fulfil this increasing demand, the Government of Gujarat initiated the full-integrated city project of GIFT City between Ahmedabad and Gandhinagar, where SOBHA will contribute significantly in fulfilling the residential demand.”

With a total built up area of 1.3 million square feet, SOBHA will develop close to 1000 housing units in the fully-integrated city built on the walk-to-work concept. This investment is in line with SOBHA’s focus on developing affordable housing projects in major cities across the country. 

Commenting on the development, Ajay Pandey, MD and Group CEO, GIFT City said, “GIFT City is experiencing unprecedented growth in the commercial developments and corporate participation. We are delighted to have SOBHA committing such a significant investment at GIFT to complement and participate in GIFT’s journey in becoming a global financial and services hub. It has also emerged as one the prominent landmarks in the office market, after witnessing rapid office development by companies from BFSI, IT/ITES and other services sectors. As a result, more developments will be needed to cater to the increasing demand at GIFT City,” he added.

J.C. Sharma, Vice Chairman and Managing Director, SOBHA Limited said, “SOBHA has set benchmarks in the Indian real estate sector with its precision and international quality homes across segments. Our uniquemodel of backward integration makes us the only real estate player in India to have all the competencies and resources in-house to deliver a project from conceptualisation to completion. With our investment in GIFT City, SOBHA aims to meet the increasing demand for affordable housing while contributing to Hon’ble Prime Minister’s vision of ‘Housing for All’. This also aligns with the vision of GIFT City of offering world-class services and infrastructure. We look forward to working on this project and associating with GIFT City to introduce first-of-its-kind housing project.”

Spread over 886 acres of land, GIFT City features include a district cooling system, underground utility tunnel, and automated vacuum waste collection, many of which are being introduced in India for the first time. The city is designed for walkability and includes commercial and residential complexes.

GIFT City has so far received investment of over INR 11,000 crore with allotment of ~16 mn sq ft of built up area (BUA). Presently, ~200 companies are operational at GIFT City, employing around 8000 people.

Till date, SOBHA has completed real estate projects and contractual projects covering about 88.93 million square feet of area. The Company currently has ongoing real estate projects aggregating to 41.37 million square feet of developable area and 28.48 million square feet of saleable area, and ongoing contractual projects aggregating to 7.17 million square feet under various stages of construction. 

Currently, the Company has a real estate presence in Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Cochin and Mysore. Overall, SOBHA has footprint in 26 cities and 13 states across India.

SOBHA’s product portfolio ranges from a 650 sq. feet unit to the presidential villas with about 12000 sq. feet. On the Contracts side, SOBHA has constructed a wide variety of structures for corporates including office complex, convention centres, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centres and club houses.

Some of SOBHA’s prestigious corporate clients include Infosys, Taj Group, Dell, Biocon, Bosch, LuLu Group, Manipal Group and others.

North Bangalore heading northwards in property launches

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Bottom Line: No other region in any other city would have attracted the developers with as many new launches and future planning as North Bangalore.

Century Artizan North Bangalore, Century India real estate, Puravankara Limited, Sobha Limited, North Bangalore property market, New project launches in North  Bangalore, New housing projects in North Bangalore, North Bengaluru property market, Infrastructure of North Bengaluru, North Bengaluru connectivity with airport, India real estate news, Indian realty news, Real estate news India, Indian property market news, Track2Realty The attraction for North Bangalore has been so profound for this location that most of the properties launched in recent times have been in North Bangalore only. It has definitely started overshadowing other hot property destinations like Outer Ring Road, Sarjapur and Whitefield.

Today, it can be vouchsafed that no other property region across the top 10 cities has made the developers as confident and bullish as North Bangalore. For example, other mass housing destinations like Rajarhat Newtown in Kolkata or Greater Noida West in Delhi-NCR have come up only because of the low price point.  But in case of North Bangalore the market is today dotted with all kinds of offerings, ranging from affordable housing to upscale luxury and villa projects.

What makes North Bangalore so attractive as a future property destination? Is it price point, future growth, land availability or there are more inherent strengths?

Ashish R Puravankara, Managing Director of Puravankara Limited believes it is a combination of all these reasons that any prudent developer would attest. According to him, in Bangalore there has been evidence that future growth is a bigger magnet as highlighted by the growth stories of Whitefield, Doddaballapur, Hosur Road and Devanahalli.

“The availability of large-scale land tracts complimented by superior connectivity to CBD and other business districts, and more than adequate social infrastructure are the reasons why developers are flocking to North Bangalore. Airports globally are epicenters of development coupled with good network of roads and the same is true for North Bangalore. The best schools and hospitals are located there with upcoming office supply, and malls make it an attractive proposition. Just to put things in perspective, 3000 acres of space has been trifurcated into three business parks – IT, hardware and aerospace park and this is ten times the size of Electronic City,” says Puravankara.

North Bangalore attractions

Kempegowda International Airport

Elevated Expressway connecting Hebbal Junction to Kempegowda International Airport

Rapid infrastructure development over the past years

Several malls, multiplexes, retail outlets, hospitals, schools and banks

Close proximity to Manyata Tech Park, Aerospace SEZ and other IT parks

P. Ravindra Pai, Managing Director, Century Real Estate points out that in the past, North Bangalore had very few attractions. Nandi Hills and the aero show mostly attracted people. Though there were large parcels of land available, most of the developers stayed away from them. The Bengaluru International airport started its operations in the year May 2008. Ever since then, North Bangalore has seen an upscale in its development.

“The landscape of North Bangalore has changed significantly in the past few years. The areas starting Hebbal to Devanahalli haves recently witnessed a splurge of residential and commercial development. There are also many planned projects – both residential and commercial which are at various stages of execution. Developers are also expecting progress in the infrastructure development, including hardware and tech parks which are coming up near the airport. Investors who are looking at residential properties can avail property at an affordable cost,” says Pai.

JC Sharma, VC & MD of Sobha Limited maintains that the prime locations of Bangalore have almost saturated and new residential micro markets are emerging and growing at a fast pace. One such micro market is North Bengaluru. This pocket of the city has gained tremendous boost with the Kempegowda International airport. Several malls, multiplexes, retail outlets, hospitals, schools and banks have made it a hotspot for real estate investment, especially for luxury housing.

“Close proximity to Manyata Tech Park, Aerospace SEZ and other IT parks gives the market the right momentum for further social and commercial growth. Additionally, the completion of the elevated expressway connecting Hebbal junction to the International Airport has made seamless connectivity to North Bengaluru. Some of the housing hotspots in North Bengaluru include Jakkur, Hebbal, Bellary Road and Thanisandra,” says Sharma.

Upcoming infrastructure

Expansion of Yelahanka Railway Station

Peripheral Ring Road

High speed Rail Link

Connecting Central Bangalore to BIA

Bangalore Metro Rail Phase 2 – BIA to Nagawara to Gottigere and Bellary Road

Hebbal – Devanahalli – Elevated Expressway

It is not just the residential projects that make North Bangalore a promising destination for future investment. Rather, the commercial developments and travelling distance to major job catchment areas is what is driving the buyers in this part of the city today.

With Manyata Embassy business Park, Karle Town Centre, Kirloskar Tech Park and Brigade Magnum already being job magnets in the vicinity, the region promises to emerge as a job magnet in future since many Multi-National Corporations (MNCs) have invested along this stretch due to availability of large land parcels and improved connectivity to the city centre and major tech clusters.

Companies like Shell, Airbus, Bombardier, Boeing, Tyco Electricals, Thyssen Krupp, AMADA, Starrag are expanding their presence in this micro market.

Ravi Sinha

SOBHA launches Gardenia in Chennai

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News Point: SOBHA Limited has launched its new villa project, SOBHA Gardenia in Chennai. 

Sobha Gardenia, Sobha Limited, JC Sharma, Sobha Chennai Project, Chennai real estate, Properties in Chennai, New property launches in Chennai, India real estate news, Indian property market news, Investment in Chennai property, Track2RealtySOBHA Gardenia is located at Vengaivasal, a green oasis that is tucked away from the bustling cityscape and is yet close to all the amenities.

The contemporary yet traditional Tamil-inspired architecture of SOBHA Gardenia has been thoughtfully designed by a team of in-house architects at SOBHA. This is SOBHA’s fifth project in the city.

SOBHA Gardenia comprises 79 lifestyle villas, encompassing 2, 2.5, 3, 3.5 and 4 BHK units. Spread over 6.85 acres, the total saleable area of the project is 180275.46 sq. ft. (16748 sq. m). 

The villa’s range from 1334.75 sq. ft. to 3365.21 sq. ft. (124 sq metre to 312.64 sq metre), offering an exquisite living experience in nature’s own backyard.

Speaking on the occasion, J. C. Sharma, Vice Chairman and Managing Director of SOBHA Limited said, “Over the years, Chennai has emerged as one the major industrial and commercial markets of India. Industries such as healthcare, automobile and manufacturing are thriving. Chennai has also seen a considerable growth as a financial, IT and BPO hub. These have augmented the demand for housing in the city, making it an important real estate destination for developers. Our new villa project will offer well-designed layouts and optimal-sized living spaces that reflect our promise of international quality luxury, style and comfortable living.”

Designed to offer a tranquil lifestyle in the lap of nature, SOBHA Gardenia possess a distinct style for the quality conscious and value discerning customers. T. P. Sanjaya Sarathy, Regional Director, Chennai, SOBHA Limited elaborated, “Close proximity to about 800 acres of Nanmangalam Reserve Forest and several lakes, SOBHA Gardenia has clean, green environs, for one to enjoy a quality lifestyle in the midst of nature. It is especially designed for the crème de la crème who aspire for a well-crafted home that is functional, durable and away from the city centre. It accommodates all the necessities of the good life and is so close to the city that one can enjoy great connectivity without any compromise.”

The residents of SOBHA Gardenia will have access to exclusive clubhouse to relax and rejuvenate along with a multipurpose hall, indoor games, TT room, a well-equipped gymnasium, steam and sauna facilities. Other amenities include a tennis court, children’s play area and a jogging track.

The project will have designer landscaping, tree-lined avenues, and experience-centric features like a reflexology pathway and a sensory garden.  Each villa will have a dedicated space for organic farming and will be built on a freehold land.

SOBHA Gardenia will also incorporate environment-friendly initiatives such as an organic waste convertor, rainwater harvesting unit, solar panels and a common 24-hour power back-up for hassle-free living.

Expect benefits of policies in 2018: JC Sharma

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View Point: JC Sharma, MD & VC of Sobha Ltd believes the worst is over for Indian real estate and the reform initiatives of 2017 will lead to benefits in the year ahead. 

JC Sharma, MD & VC, Sobha Limited, Bangalore real estate news, Bangalore property market, Track2Media Research, Track2Realty, Best builders of India, Most reputed buildersThe year 2017 turned out to be a landmark year for the economy at large and the real estate sector in particular. Several historic reforms and policies were rolled out. Beginning with the Union Budget, the affordable housing received a huge impetus in the form of infrastructure status.

It not only transformed affordable housing into the next big opportunity for Indian developers but also laid the foundation for revival of housing demand in India. This was followed by the implementation of game-changing policy of Real Estate (Regulation and Development) Act, 2016 (RERA) that promised to protect the homebuyers’ interest and enhance credibility of the sector with focus on transparency and accountability.

Another progressive reform that made the year stand out was the introduction of the Goods and Services Tax (GST). It replaced the multiple taxation regime with a uniform and simple tax structure, promoting ease of doing business.

The Government’s determined focus to make real estate as one of its key drivers was also evident with schemes and benefits such as Credit Linked Subsidy Scheme (CLSS) under PMAY; extension of income tax benefits up to 60 square metre-sized apartments, amendments in Real Estate Investment Trusts (REITs).

As we move forward to 2018, we expect the benefits of the reforms and policies implemented to be amply visible in the years to come. The changes brought by them will create a level-playing field for organised players like SOBHA and help consolidate the sector by weeding out non-serious players reluctant to transform themselves. Additionally, there will be a greater focus on faster execution of projects to meet the delivery timelines.

We believe that the worst for the sector is over. Slowly but steadily, the market sentiments are improving.  We are confident that the sector will see significant growth on a sustainable basis and help drive the Indian economy.

Focus on end users driving Bangalore: JC Sharma, Sobha Ltd

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News Point: JC Sharma, Vice Chairman and Managing Director, Sobha Ltd, in an exclusive interview with Ravi Sinha.

JC Sharma, MD & VC, Sobha Limited, Bangalore real estate news, Bangalore property market, Track2Media Research, Track2Realty, Best builders of India, Most reputed buildersJC Sharma has been witness to the emergence of Bangalore as the ‘Destination Indian Realty’. He feels it is not just the business potential of the city that makes it an investment magnet. Rather, there are real estate related catalytic factors, like the developers’ focus on end-users, innovation with the product and adoption of advanced technology that makes Bangalore numero uno of Indian real estate.

Often referred as the best CEO in the business, his assessment of the sector is that sentiments may be affecting the grwoth of the business, Indian property market is not heading to correction. Excerpts of the interview:

Ravi Sinha: What makes Bangalore the best performing property market in India?

JC Sharma: Bangalore has remained the most happening city as far as the real estate sentiment is concerned for the last few years. The positive growth of IT/ITeS sector, resulting in large workforce requirement has created a big demand for housing needs in the city.

According to NASSCOM, the revenues from IT/ITeS sector is expected to reach US$ 300 billion by 2020, while the number of employees in the sector is expected to increase by 2.4 million to reach 5.1 million by 2022. A major part of this growth will emanate from Bangalore as in the past, which will further boost the real estate requirement in Bangalore. Keeping this in mind, many big players are entering the city with their large projects. Also, despite the slowdown, the demand for real estate in Bangalore has witnessed a steady pace.

Additionally, given its climatic attraction, high capital appreciation, decent infrastructure and connectivity, the market attracts more NRIs who are opting to settle in the city.

Ravi Sinha: Have developers in the city done something differently or the financial activities and liveability index are organically driving the city property market?

JC Sharma: The developers in Bangalore are focussed on end users. Emphasis is on providing ample useable space with regard to the built up area vis-a-vis the total saleable area. Moreover, the developers in Bangalore are experimenting with newer trends and  are bringing in innovations and advanced techniques in making their projects more compact, affordably priced with lots of amenities and yet trendy and comfortable. The development in the city is complementary with closer access to schools and hospitals and is more synergetic in nature. SOBHA has a good delivery track record and has thus built immense credibility amongst homebuyers through its international quality products, high precision work and eye for detail.

Ravi Sinha: But stress is quite visible in Bangalore market as well. Do you think the city property market will sustain the slowdown blues?

JC Sharma: The Indian realty market is connected with the overall market sentiment. For example, look at the impact of Chinese economy on the global markets.  Likewise, sentiments do play an important role in the minds of the homebuyers. When they see negative sentiments in other cities, they also start taking more time in decision making. However, we believe that the sentiments will start improving and Bangalore is expected to do well.

Ravi Sinha: Would you agree with the price correction expectations across the housing market?

JC Sharma: No, I do not agree to this. There may be some stray examples of some developers adjusting their prices at lower levels. However, the developers do not have the required margins/cushion to go for price correction across the housing markets.

Ravi Sinha:  A lot of developers have liquidity concerns and operating cash flows have taken a hit. Don’t you feel that lack of funding options will force the developers to cut prices?

JC Sharma: You may be right. Developers today are definitely having liquidity concerns.  But I am of the firm opinion that the real estate prices generally reflect the true value of different cities. The selling of products by reducing the prices cannot be a long term solution as it will be difficult for such developers to generate required liquidity to replace their existing inventory.

Ravi Sinha: Bangalore for the first time has more than one lakh unsold inventory. Will it force the developers to reduce prices, especially when the secondary market transactions are indicating some correction?

JC Sharma: The inventory is not a big concern for most developers. Recently, SOBHA has launched the largest residential project of approximately 7000 units in Bangalore. This is a fast moving product and at the same time such projects theoretically carry a larger inventory. We, therefore, need to look at inventory from the perspective of those projects which are completed but still remain unsold. In my view, most developers do not carry large inventory in completed projects.

Ravi Sinha: When and how do you think the sector will come out of present crisis of confidence in the housing market?

JC Sharma: The macro environment has been improving. Interest rates are coming down. India will be a big beneficiary of the falling commodity prices especially in case of crude and steel. I am of strong belief that markets will start improving from next year onwards.

Populist budget & challenges of affordable homes

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Bottom Line: Contrary to the hype of affordable housing around the Union Budget 2017-18, many Indians across the cities are questioning how the budget has addressed the core issue of affordability.

Union Budget, 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“Siddharth Chopra, a Mumbai resident has been glued to the television news channels during the live telecast of the Union Budget 2017-18. Like the rest of the Indians expecting the budget bonanza for the middle class affordable homebuyers, he is now rather confused as most of the analysts are debating how the Union Budget has addressed the pertinent issue of affordable housing.

“It is no doubt a populist budget that may earn goodwill to the government in terms of getting media headlines and garnering votes in the rural areas. But for people like us living in the metro cities, I wonder how the budget has addressed the concerns of affordable housing. The government might have redefined the affordable housing by increasing the size of the carpet area and giving it the infrastructure status, but that will address the concerns of the developers. What about the homebuyers?” questions Siddharth.

Like this confused homebuyers, many Indians across the cities are today asking this questions as to how the budget has addressed the core issue of affordability. Affordability for a common affordable homebuyer is more about the pricing than the size of the apartment. As per the standard definition of affordable housing, any house that costs more than 5 years of gross income of the buyer with the second simultaneous condition that the EMI should not cost more than 50% of the take home salary is not affordable.

Another definition often floated in the Indian context is that any house that costs approximately 20 years of rental value is affordable. The budget, if seen with the right context of affordable housing in the major cities of India, fails to answer these much-needed affordable requirements of the Indians.

Beyond symbolic relief for affordable housing

  • Increasing the size of affordable housing without reducing the price does not address the concerns of affordable housing
  • No relief in Service Tax, VAT is a dampener for affordable housing
  • No incentive for developers to reduce the pricing and make houses affordable
  • Budget fails to redefine affordable housing and low cost housing in terms of price point

The developers are nevertheless happy as the budget has addressed their concerns to a large extent. JC Sharma, MD & VC of Sobha Limited points out that the focus on affordable housing is laudable, as it has been accorded the infrastructure status which will have many ripple effects.

“Government’s proposal to take into consideration the carpet area of 30 and 60 sq. metres instead of built-up area of 30 and 60 sq. metres (as was the case earlier) of the houses is a welcome step, whereby 30 sq. metres limit will apply only in case of municipal limits of 4 metropolitan cities, while for the rest of country, including the peripheral areas of metros, limit of 60 sq. metres will apply. This will allow developers to plan their future projects within the 60 sq. metre carpet area, which will boost the housing sector immensely,” says Sharma.

Ashish Puravankara, Managing Director, Puravankara Limited believes the budget has spelt out roadmaps and allocations across various initiatives of the Central Government and the Finance Minister has done an excellent job of managing the expectations. According to him, revision of Built-up area to Carpet area is a great move to push for apartments in affordable housing category.

“The according of Infrastructure Status to the Affordable Housing will boost investment in this category. Extension of period for carrying forward the MAT Tax from the existing 10 years to now 15 years is a welcome move,” says Puravankara.

Kishore Bhatija, MD – Real Estate Development, K Raheja Corp says the government has been working towards boosting the affordable housing segment and the announcements made today are in line with their objectives. The infrastructure status to affordable housing sector is a quantum step for the development of housing.

“In addition to this, the tax relief for developers on unsold inventory is a positive step resulting in lowering the burden on their shoulders. The changes in income tax slabs are a welcome move which will leave more liquidity in the hands of consumers boosting consumption,” says Bhatija.

However, beyond the euphoria of the budget sentiment within the built environment of the Indian real estate, the fact lies that the budget has not addressed the key concern of affordability of the average homebuyers in the major cities of India. Moreover, there is hardly any substantial focus on job creation which has a direct linkage with the housing consumption in the cities, especially the affordable housing.   

By: Ravi Sinha

Sobha launches luxurious Sobha City in Delhi-NCR

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News Point: will launch its first luxury apartment project, Sobha City in Delhi-NCR tomorrow, Wednesday, June 29th, 2016.

Sobha City Delhi-NCR, Sobha Limited, JC Sharma, PNC Menon, Ravi Menon, Luxury real estate in Delhi-NCR, India real estate news, Indian property market news, NRI investment in India, Track2Realty, Home search  Sobha City is one of the largest group housing projects in Gurgaon which will offer best-in-class living experience to the customers. Located in sector 108 of Gurgaon, the project is much sought-after due to its close proximity to Delhi and Indira Gandhi International Airport.

Sprawled over 39 acres, Sobha City comprises of 1700 apartments across 22 towers with four units on each floor. The project offers 2BHK and 3BHK apartments that range from 1380 sq. ft. to 2342 sq. ft. Each unit is functionally planned with well-designed layouts and optimally-sized living spaces. With 85 percent open spaces, it offers an abundance of amenities along with magnificent view of the surroundings.

Speaking on the eve of the occasion, , VC & MD, Sobha Limited, said: “Over the years, Gurgaon has developed and transformed into a leading financial and industrial hub in India. It not only boasts a presence of over 250 Fortune 500 companies, but also caters to a population having third highest per capita income in the country. This has augmented the demand for luxury homes that meets the aspirations of people in the Delhi-NCR region. Additionally, Gurgaon being one of the fastest growing realty markets, offers high capital appreciation, making it a lucrative investment option. Sobha City, aims to fulfil the desires of quality conscious and value discerning customers. More importantly, the project underscores promise of international quality luxury, style and comfortable living.”

Jagadish Nangineni, Regional Head – NCR, Sobha Limited said, “Sobha City, Gurgaon is the first luxury apartment project from the house of Sobha. With this launch, we will have a product mix that will offer homes of all sizes in NCR region – 2 & 3 BHK apartments in Sobha City and villas at International City. Sobha City has been meticulously planned keeping customer’s core requirements in mind for a luxurious community living – both in terms of the apartment and amenities. These apartments are designed with a good balance of functionality, aesthetics and luxury. The amenities are the best in class – open grounds, parks, large water bodies and two clubhouses. Sobha City is going to be a landmark community development owing to its scale of development, shape of the land and location which is on the edge of Delhi.”

The common amenities at Sobha City include a large cricket ground having 45m radius, a lakelet, two oval club houses measuring 40,000 sq.ft with multipurpose halls, cafe, entertainment room, children’s play area, library and cards room.

In addition, it also offers multiple lawns and parks, specially designed camping grounds, paved pathways, swimming pool, cricket stadium, green landscaped outfield with more than a kilometre long walking and biking trail, designer landscaped greens and other amenities that match the pace and standard of living of today’s smart customers.

Sobha City gets A+ in Track2Realty Investment Magnet Report 2015

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Location: Thanisandra Main Road, Hebbal Ring Road

Project type: Apartment & Villas in Township

Price: Rs. 85 Lakh-3.8 Crore

Project execution lifecycle: June 2011-May 2018 

Sobha City Bangalore, PNC Menon, JC Sharma, Bangalore real estate market, Indian property market, Neighbour home, NRI real estate investment, Indian property market report, Real estate newsmagazine, Track2Realty Investment Magnet Report 2015, Track2Media Research This is one of those projects that can elevate the attraction quotient of the location. Based on the Mediterranean theme, this 36 acres township has the kind of amenities that could make any developers’ marketing brochure a temptation to buy.

This is the kind of luxury living offering that has made Sobha standout as India’s leading real estate brand today with luxury being their calling card. All the residential apartments here are based on the Mediterranean themes, like Casa Serenita, Casa Paradiso, Santorini and Aristos.

The traction point and aspiration level with this project has been so high that despite of some bad press to the project in early days (due to cremation in the neighbourhood) the launch2sales ratio of the apartments in Sobha City has been higher than the competing projects in and around the location.

After all, the area is surrounded by the magnet called employment where IT SEZ located on the Outer Ring Road and close to Hebbal is home to companies like IBM, Target and Cognizant. This micro market has many attraction quotients today and Sobha City is on top of the aspiration level of high-end homebuyers.

Track2Realty Rating: A+

  • Location & Aspiration: 8/10
  • Physical Infrastructure: 6/10
  • Social Infrastructure: 5/10
  • Appreciation Potential: 7/10
  • Competitive Advantage: 8/10
  • Rental Potential:6/10
  • Launch2Sales Ratio: 8/10
  • Construction Quality/Timelines: 8/10
  • Livability Index: 7/10
  • ROI Cycle: 7/10

For full report grab a copy of Track2Realty Investment Magnet Report 2015