Tag Archives: Residential Property

Commercial heat map witness to changing housing needs

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News Point: A closer look at changing demand of office spaces indicates future of housing demand.

- india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Delhi NCR real estate, Mumbai Real Estate, Bangalore Real Estate, Pune Real Estate news,Track2Media, Track2Realty, ravi sinhaTo say that commercial property in general and office spaces in particular are the true indicators of the way forward for real estate market would be stating the obvious. It is always the absorption of office spaces that indicate the potential economic activity and job catchment area leading to demand of residential units.

That precisely is the reason why some of the traditional city centres across the major property markets of India are losing to the newly developed locations on the outskirts.

This is because the Central Business Districts (CBDs) of these cities are losing out to the Peripheral Business Districts (PBDs). The businesses are increasingly evaluating the cost of doing business per sq feet in these places. However, this also raises a fundamental question as to whether this trend also indicates that there will be a shift from the top eight cities in terms of the real estate opportunities.

Urban planning experts believe this is a much deeper question because it is not just about the existing urban centres but also about the way urbanisation is eventually going to happen in this country. As per the UN statistics the urban population of 40 crore in India would be 60 crore in less than 20 years of time. It clearly suggests that the existing cities won’t be able to fit in this additional 20 crore population, whether indigenous or migrants.

So, it is going to be a natural progression to urbanisation where new urban centres will have to come up; whether that is artificially created or organically created. 

Naushasd Panjwani, Managing Partner, Mandarus Partners points out that whenever someone comes to them for investing in new offices, the parameters that they are looking for does no longer lead to Delhi or Mumbai. According to him, the businesses want to go where real estate is cheap; they want to go to Ahmedabad or Jaipur, Mangalore or even Kolkata.

“There are many factors that make a city grow as an investment magnet. First and most important criterion is the availability of talent pool; it has nothing to do with real estate. That is the reason why Bangalore or Pune have done so well in IT. It is because these are the education hubs where you have very well educated and English speaking talent pool. You cannot imagine taking IT to Baroda or Rajkot even though these are very fine cities and in the last ten years a lot of development has happened over there. Second thing is the regulatory environment and what is the government view on them. That is why the state governments’ policies are very important,” says Panjwani.

Arvind Nandan, Director – South Asia with Colliers International says that if a heat map of the commercial or the office market areas is done today, it will clearly show where is density of the working class. For example, in Mumbai the greater density has moved from Nariman Point to BKC, Powai or Goregaon etc. These places are very high on heat map. So, naturally for someone who is buying afresh will buy from the hitting distance of these areas because someone who is buying today would not like to travel to three or four hours on a daily basis.

“This is regardless of what CBD was or what SBD or PBD today is. It depends on where he is working today or is most likely to work. Suppose someone has zeroed in on one of these three-four areas, then the second consideration is where will his family conduct the social life smoothly. It may not be the best of socially networked area or infrastructure supplied area,” says Nandan.

There are certain other concerns, like connectivity to domestic and international airports. For example, Ahmedabad airport is very good but for the international travel one still has to come to Delhi or Mumbai. Pune still does not have full-fledged international connectivity. There are other concerns like presence of banking and financial institutions.

Availability of land is critical – in Mumbai for example there is no availability of land and that is why IT is there in Pune or Bangalore. Then comes the issue of social infrastructure. The livability concern unfortunately has not been factored in holistically. If one takes a comparative study of livability index, India would not figure anywhere in the world on a global level where cities in Australia, New Zealand, Europe or Canada figure. 

The commercial heat map nevertheless suggests a paradigm shift is on the cards. The changing preferences for commercial real estate opportunities are going to change the housing demand in future as well.  

By: Ravi Sinha

Consim Info to expand footprint in online property market

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Economic Survey, Real estate survey, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyConsim Info Pvt. Ltd with online brands such as BharatMatrimony.com, IndiaProperty.com, EliteMatrimony.com and PrivilegeMatrimony.com has announced plans to expand its footprint in the online property business. The company said it will increase market focus in the Western and Northern regions and expand Indiaproperty’s current market leader position across all four southern states to these markets, as a part of its growth strategy.

Consim Info has also repositioned Indiaproperty.com  and announced marketing spends of  20 crores for the current financial year to support its expansion plans and unveiled its new look portal with advanced first time ever features such as video interviews with builders and developers, virtual property tours and online fairs and its new advertisement, kick starting the new marketing campaign.

Speaking at a press briefing held in Mumbai, Murugavel Janakiraman, Founder & CEO, Consim Info Pvt Ltd, said, “Our property portal business has been witnessing significant growth in alignment with the surging demand for new property and we believe the time is right for us to leverage our experience in online businesses and establish our leadership in this area as well.  We recently crossed the 1.5 million mark in registered users with 250,000 unique daily visitors and more than a million page views a day, establishing us as the number one property portal in the country. Our increased business focus in this area and strengthening of the senior management of Indiaproperty, should help us scale new heights this year.”

Detailing the growth plans, Ganesh Vasudevan, Vice-president and Business Head, Indiaproperty.com said, “IndiaProperty has been growing at over 100% over the last year in terms of revenue and number of projects and this growth has been lead by the Western region. The company is exploring strategic partnerships with builders and agents in the state and is in advanced talks to sign exclusive marketing agreements. We expect the Western and Northern markets to contribute to nearly 50 % of our revenues this year and these are key geographies for us in our expansion plans. Our sales and service delivery teams are being strengthened in alignment to our growth plans.”

PE Analytics plans to launch Real Estate Index

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Economic Survey, Real estate survey, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyNew Delhi-based research firm PE Analytics has drawn up plans to launch Real Estate Price Index in partnership with a leading commodity exchange.

PE Analytics owns and operates PropEquity, an online subscription-based real estate data and analytics portal covering over 27,000 projects of 5,100 developers across 40 cities in India. The data and analytics enable clients to spot market trends and maximise risk-adjusted returns.

“We are launching the First Residential and Commercial Indices based on transaction prices in partnership with the leading commodity exchange shortly after a nod from the Government,” PE Analytics CEO Samir Jasuja told PTI in Mumbai.

These indices will be based on the actual transaction and registration values prevailing in various micro-markets for the residential and commercial asset classes.

PropEquity is collaborating with India’s banking and finance regulatory body and the country’s largest commodity exchange to develop housing starts and realty indices.

The indices will be the barometer for measurement of the real estate sector performance and will also enable trade on the exchange. The company is looking at September 2011 to go live with this product offering, Jasuja said.

PropEquity has created products that are unique in the Indian context, and which have been validated through the market and with marquee customers, he said.

With future plans already underway, Jasuja envisions PropEquity as a pan-Asia product and intends to raise a second round of funding for the company in 2011.

Hiked interest rates – Impact on the real estate sector

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Track2Media, Track2Realty, India Real Estate News, real estate news india, india property news, india property investment news, Jones Lang LaSalle India, India Realty news, realty news india, india property news, property news indiaIt has always been axiomatic that when financial institutions raise their lending rates, there are bound to be ripples on the highly cost-sensitive Indian real estate market. The latest rate hike obviously means that  the cost of construction has gone up for developers, and this move by the RBI certainly does not come at the best of times for them. Banks have already taken a cautious approach to real estate lending and reduced their exposure to the sector, and most developers are now prevailed upon to raise a larger component of their construction costs from the private sector. The fact that such funds come at a higher cost of borrowing has already increased their construction costs significantly.

It would be logical to assume that, hoping to maintain their profit margins under such circumstances, developers would not hesitate to mark the incremental burden to buyers. This would certainly happen if buyer sentiments and resultant market activity were high enough to accommodate such a move.

However, the market for residential real estate is far from effervescent at the moment. In a scenario where staying competitive and selling stock is of utmost essence, developers are unlikely to increase the cost of their units and thereby risk losing more customers. While this will certainly impact their revenues to an extent, most developers do see a sufficient profitability quotient to make a strategic decision on this count.

On the buyer side, the low-to-mid income segments are invariably the most affected by a hike in home loan interest rates. That said, the impact of increased cost of borrowing is not as severe as that of the decreased allowable percentage of borrowing. Where this used to be at a steady 85% of the overall cost of the property, most banks are not extending more than 75% now. The fact that the salaried class now have to supply a higher contribution to the cost of their homes that is having a very tangible impact on demand.

The author, Ashutosh Limaye, is Local Director – Strategic Consulting, Jones Lang LaSalle India

TCG-Vornado fund to invest Rs 270 crore in NCR, Mumbai projects

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Eldeco Meadows, Real Estate Investment, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyIndia Property Fund, managed by NRI investor Purnendu Chatterjee’s TCG Real Estate and US-based Vornado Realty Trust, is in the final stages of investing Rs.270 crore in two residential developments in national capital region and Mumbai.

The fund will invest Rs.150 crore and Rs.120 crore in housing projects in Mumbai and Noida, respectively, and pick up 40-45 per cent in each of the projects, according to the sources close to the development.

“The $ 400 million Fund works with land-owners, state governments and developers (particularly mid-size developers who lack both capital and management talent) to develop international-quality real estate products, which cater to the high demand sectors of the industry. The Fund takes both controlling and minority positions,” says TCG Real Estate’s website.

The Fund also looks at investing in related sectors such as construction, mortgage financing and infrastructure. The Fund invests between $ 5 million to $ 50 million in each investment, the post says. TCG Real Estate is the property development and investment arm of Purnendu Chatterjee’s The Chatterjee Group

Property developers are increasingly turning towards private equity funds for financing their projects as commercial banks have tightened their lending to real estate.

“With fresh lending remaining tight, PE players have started to get busy, as all developers have begun to offer good quality assets to raise project level PE fundings,” say analysts from Enam Securities in a recent report.

Goa property exhibition to showcase 200 projects

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Goa Real estate news, Goa property news, Delhi NCR real estate, Bangalore Real Estate, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Mumbai Real Estate, India PropertyFor those searching for their home sweet home in Goa, there’s a treat in store this Akshaya Tritaya. Twenty-one property developers and one finance company will come together under one roof to showcase about 200 projects under way across Goa.

An initiative of The Times of India, ‘Times Homes’ will be on exhibition on Friday and Saturday at Hotel Fidalgo. Projects ranging from single-bedroom apartments to penthouses and luxury villas, and ranging in price from 20-25 lakh to several crore will be on display.

Information on housing loan options and how to avail the same will also be available at the exhibition. “It’s a win-win situation for buyers,” says president, Confederation of Real Estate Developers in India (CREDAI), Goa, Nilesh Salkar.

“They can zero in on the best buy for what they are looking for as a dream home and they can even find out about home loans,” he added.

The two-day exhibition will highlight projects in urban areas such as Panaji, Vasco, Margao and Mapusa; fast-growing suburbs like Porvorim and Dona Paula; and idyllic locales of Canacona, Siolim, Pilerne, Old Goa and Calangute among others.

The property developers participating are Horizon Land Developments, Mathias Construction, Milroc, Palacio and Emgee Group, K Raheja Corp, Madkaikar Realtors, Sunteck Kanaka, Sukhthanker Associates, Vision Enterprises, Susheela Homes & Properties, Umiya Group, Highland Constructions, Gera Developments, Crossroads Realtors, Classic Squares, Bharat Developers and Realtors, B&F Realty, Ashray Real Estate Developers, Adwalpalkar’s Constructions, Anand Bose Constructions, and Acron Developers. State Bank of India will provide information on loans.

Tata Housing bags CNBC Awaaz Crisil CREDAI Real Estate Award 2011

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Tata Housing, Ratan Tata, Brotin Banerjee, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTATA Housing Development Co. Ltd. has been awarded CNBC Awaaz Crisil CREDAI Real Estate Award 2011 for Integrated Sub Urban Developer at the 11th National Conference of Confederation of Real Estate Developer’s Association of India in Singapore. The award was handed over by the Minister for Urban Development, Kamal Nath, to the Managing Director & CEO, Brotin Banerjee at a glittering Awards ceremony at Hotel Marina Bay Sands.

Commenting on the achievement, Mr. Brotin Banerjee, CEO & MD, Tata Housing Development Company Limited, said, “At Tata Housing, it’s our constant endeavor to create benchmark projects across all segments on a pan-India level, based on the consumer’s needs and requirement. This Award is a testimony of our success in providing the best in class integrated sustainable projects. We are extremely happy to receive this award and it will strengthen our commitment to create landmark projects across the country.”

The Real Estate Awards recognizes individuals and various corporates whose excellence and achievements have set a benchmark within the industry. The awards also seek to acknowledge the magnificent architecture and intricate interiors of the Indian industry which have gained recognition globally.

CREDAI demands comprehensive real estate law

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Chennai Real estate, CREDAI Chennai, Tidel Park Chennai, IT Parks Tamil Nadu, Tamil Nadu Real Estate, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyThe Confederation of Real Estate Developers’ Association of India (CREDAI) demands the proposed law to regulate the development of India’s real estate sector must be comprehensive to address the interests and responsibilities of all stakeholders.

General consensus on these lines was reached by the CREDAI at its 11th national convention in Singapore on Friday. The two-day meeting, inaugurated by Union Urban Development Minister Kamal Nath on Thursday, was presided over by CREDAI Chairman Pradeep Jain and President Lalit Kumar Jain.

In a briefing after the convention, CREDAI Secretary T Chitty Babu said the draft bill, as initiated by the Centre, was now focussed primarily on the responsibilities of the real estate developers. The proposed law should, instead, be “comprehensive in scope,” covering all stakeholders, he emphasised.

Besides the various governments and local authorities with the power to grant approvals for constructions, the other stakeholders were the real estate developers and the buyers of homes and offices plus the agencies in the business of funding projects and purchases. So, it was essential that all these stakeholders must be held accountable under any legislation for the proper administration of the real estate sector, said Chitty Babu.

The CREDAI conference discussed various aspects such as speed and efficiency as also innovation and technology for the modernisation of Indian realty. The construction of the Indira Gandhi International Airport in Delhi as a case study and the making of iconic buildings in other parts of the world also received attention.

Awards were presented by Mr. Kamal Nath to various real estate developers in a number of categories.

Focus on affordable housing at CREDAI Bangalore exhibition

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CREDAI, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyThe annual CREDAI Realty Expo organized by the Confederation of Real Estate Developers Associations of India (CREDAI) kicked off on Saturday with hundreds of prospective property buyers thronging the exhibition at Palace Grounds.
This year, the expo has more than 50 leading property developers and a handful of housing financial institutions participating.

Among the prominent builders which participated in the expo are Mantri Developers,  Sobha Developers, Puravankara, and August Ventures. The expo was inaugurated by Bangalore Development Authority Commissioner Bharath Lal Meena. Also present were Sushil Mantri, President CREDAI Karnataka, S Faisal Rizvi, Jt Secretary, CREDAI Karnataka.

Sushil Mantri said that with the recession of 2008-09 well over, the real estate sector in Bangalore was on an upswing again. “Demand for real estate is at an all time high with customers looking for high quality housing”, he said.

He added that both luxury and affordable housing were seeing an upswing, with new projects launched almost one per day.

This year’s expo will continue last year’s focus on affordable housing as the real estate sector has rebounded significantly. The affordable housing segment is targeting prospective home owners who are looking at investing in the range of Rs.20 lakh to Rs.50 lakh.

Property watchers in the city say the affordable housing options seem particularly appealing this year. “I cannot afford to invest in the luxury apartments that are on offer, but the affordable housing options seem particularly attractive. Instead of shelling out a rent of Rs.20,000 every month, it makes more sense for me to purchase a house on a mortgage. At the end of it, I will own a house at least”, said a visitor.

Joshua Samuel, a MNC executive, said he was also interested in some of the affordable housing options, especially on the higher end. “Bangalore is still an affordable city compared to Mumbai or even Delhi. Purchasing a flat here is quite an attractive proposition”, he says.

The expo is being held on a 60,000 square feet air conditioned expo area at Gayatri Vihar, Palace Grounds. Besides offers from developers, the expo will feature financial institutions offering housing loans. There will also be seminars by banks, vaastu experts, and legal experts to answer the queries of prospective home owners.

MARG ProperTies unveils new brand mascot – “Mr. Joy”

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Marg Properties, Mr. Joy, S Ramakrishnan, Delhi NCR real estate, Bangalore Real Estate, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Mumbai Real Estate, India PropertyMARG Limited, the diversified infrastructure development company has unveiled “Mr. Joy”, the mascot symbolizing a new brand identity for its real estate arm – MARG ProperTies.

The mascot, Joy, has been especially designed to connote to the ‘Home Category’ and at the same time give a look and feel of a male persona that is a manifestation of the core values that MARG ProperTies brand stands for: Customer Friendly and Omni-accessible, Trustworthy, Responsible, Dependable, Caring, Timely and quality delivery Expert advisor.

In essence, Joy will now be the spokesperson for the MARG ProperTies brand. Commenting on this refreshed branding, GRK Reddy, Chairman & Managing Director, MARG Group said, “Mr. Joy, the mascot of MARG ProperTies is an attempt to personify the MARG ProperTies brand and create a better brand connects with our customers. It is our constant endeavor to serve customers better and provide them with the very best available solution tailor made and customized to their requirements. Joy is a manifestation of our desire towards customer delight and represents serious effort on our part to provide unmatched products and services”.

Joy is slated to amplify the MARG ProperTies brand positioning of “Joy of ownership” by creating a distinct platform that helps in better brand recall. In a nutshell, Mr. Joy exemplifies the qualities of a mentor, friend and guide that helps our customers to make the best use of available choices.

Commenting on this new initiative, S Ramakrishnan, CEO, MARG ProperTies said, “Mr. Joy perfectly blends with the brand that is known for its excellence in terms of expertise, delivery and its strong customer-friendly approach that infuses joy in the lives of its customers. The friendly demeanor of the mascot is sure to build strong and instant ties with the target group and would go on to give a shot in the arm to the brand. This is just the beginning of a joyous ride and we hope to enrich and further strengthen our ties with our loyal base of customers.”

The importance of branding in today’s keenly competitive real estate market is paramount. It is the brand that will be a key differentiator. This branding exercise gives MARG ProperTies a unique identity that is instantly recognizable and will help to build ties and bond better with a persona that is easily recognizable and approachable. Mr. Joy is therefore a clear attempt to differentiate the MARG ProperTies brand in the market to achieve a higher recall and brand salience.

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