Tag Archives: PNC Menon

Indian investors looking at Dubai properties: PNC Menon, Chairman-Emeritus, Sobha Ltd

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Track2Realty Exclusive

Interview Point: PNC Menon, Chairman-Emeritus of Sobha Ltd feels India offers a great market for the NRIs but the demonetization will push investors to look at Dubai properties. Excerpt of an exclusive interview with Ravi Sinha.

PNC Menon, Sobha Chairman, Sobha Ltd, India real estate news, Best news website, news portal of Indian real estate, Track2RealtyRavi Sinha: How do you see the impact of demonetization on real estate market?

PNC Menon: The impact on the economy will be significant as a large part of the black economy would become part of the Indian economy. This is certain to reflect in next year’s GDP figures. The attack on black money through demonetization is also expected to boost government revenues in a significant way. With a large part of unaccounted cash coming into the system, a lot more money will become accountable and taxable than was the case earlier.

Ravi Sinha: Will it really affect the real estate investment cycle?

PNC Menon: As such, we expect a surge in Indian investments in Dubai property as a result of the recent shift. Now that the money is legal and cleansed, people are looking at various new avenues to recover some of their losses and ROI that is tax free is very attractive for obvious reasons.

Ravi Sinha: Any specific reason why you are so bullish on Dubai property?

PNC Menon: Dubai is now a very sought after destination to invest in tax-free property with solid returns for Investors and also for end users who are looking at a second home. For example, our flagship project, Sobha Hartland, is expected to provide the profit that end users and investor seek. In fact, a two bedroom apartment is estimated to yield more than 2.3 lakhs of tax-free rental income every month plus the annual advantage of 20-30% capital appreciation.

Ravi Sinha: To what extent the Indian real estate market is attractive for investors?

PNC Menon: India’s real estate sector has matured to a point where NRIs are now able to invest in a wide variety of products, across the affordable, mid-range and luxury segments. Based on our 22-year presence in India, NRIs continue to represent a healthy proportion of our client base, primarily due to our focus on delivering global quality standards which ultimately generate attractive returns for our investors. With tighter regulations, greater transparency, more affordability and enhanced price stability, NRIs will find interesting investment opportunities, as long as they have a long-term view and are discerning about which project to invest in.

Ravi Sinha: A number of NRI investors are not that bullish on the Indian property market for some time now.

PNC Menon: India is a huge market with over 1.2 billion people and an emerging economy on a global front. When we entered the Indian market in 1995, we had a clear vision to transform the way people perceive quality in the real estate sector. We were even then conscious that by introducing international quality processes at affordable prices without compromising on delivering a developer can capture a big market.

Ravi Sinha: Amidst cycle of uncertainties what is your mantra of survival in real estate?

PNC Menon: I have just entered into the UK market. But the two markets where I mostly operate – India and the Middle East – goes through cycles of uncertainties after every few years. The answer to survival issues lies in the somple business philosophy of not over-leveraging. In a business where the conventional wisdom of debt-equity ratio has gone for a toss, one of the important lessons that I have learnt is that if you have $100, you should not borrow more than $50.

Ravi Sinha: Dubai and UK markets are different altogether. But does the perception of Indian market ever bother you?

PNC Menon: I am concerned with the overall poor perception and projection of the realty business. And it is time we must in our collective spirit take some steps to instill trust factor.

Ravi Sinha: Do you think the homebuyers are getting unreasonable today in the wake of consumer activism? Any suggestions to improve trust quotient?

PNC Menon: The homebuyers are not unreasonable consumers to expect houses to be built in a year. However, they expect an update and constant communication along with transparency. We can think of updating customers on a monthly basis with photographs of completed construction levels. A YouTube link can be created to offer them live feed from the construction site. Depending on the size and complexity of the project, it varies from 36 to 60 months. Developers can always have a flexible timeline for possession in their contracts.

 

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