Whitefield in the Spotlight

10/12/2018
 Authored by Rajat Johar

Plethora of Cultures

Owing to the many companies that have set their base in Whitefield, the area has witnessed the influx of people and over the years, Whitefield has become a mini-India, with people from all parts of the country settling there. With people came their cultures, traditions and lifestyle. Whitefield has successfully accommodated people across regions, religions, languages and the area today celebrates harmony like no other place. The city also hosts major festivals across religions and is quickly expanding to accommodate the growing population. Once a small village, Whitefield has transformed itself into a buzzing community for people across the age spectrum.

A tale of transformation

9/21/2018
 Authored by Rajat Johar, Head of Residential Services, CBRE

From a humble village in Bengaluru to one of the most luxurious residential areas in the city, the transformational story of Koramangala is one that is worth telling. The city has expanded widely in the recent decade, providing a platform for people across age groups to stay in a luxury settings.

Technology Redefining Asia Pacific Workplace and Workforce

6/1/2018
 Authored by Ram Chandnani - Advisory & Transaction Services

Businesses are undergoing rapid evolution in the present digital age. It has impacted long-term commercial real estate revolution in Asia Pacific with technology being the primary catalyst. Corporations have recognized the urgent need to restructure their operations based on new technology which will also require innovative talent management to facilitate the change. Companies can now transcend traditional expectations based on location with the advancement in technology; instead employee experiences have now become the focus of majority of real estate decisions across the region. 

Importance of Workplace Strategy

6/1/2018
 Authored by Anshuman Magazine

As per CBRE’s APAC Occupier Survey 2015-16, the drivers of workplace strategy are changing. The survey found that better collaboration with customers, colleagues and coworkers is now the key reason behind implementing workplace strategy (58%), closely followed by cost savings (53%). The emphasis on increasing employee productivity (47%) is also driving the development of workplace strategy. Space efficiency was identified as the most popular initiative to reduce occupancy costs (55% of respondents), closely followed by lease negotiation (40%). Increased scrutiny of CAPEX and fit out costs means that the previously popular strategy of relocation to decentralized or emerging areas may have lost some of its appeal as a cost-saving measure, and was highlighted by only 23% of respondents.

How a dedicated Facilities Management Service can help increase business efficiencies: Importance of outsourcing

5/24/2018
 Authored by Rajesh Pandit - Global Workplace Solutions & Asset Services

Increasingly people want to choose where and when they work and they look to the workplace – wherever that may be – to deliver much more in the way of services and amenities. Every day it seems technology is pushing the boundaries of what real estate can deliver for organisations. All of which means that facilities management is transforming: from an asset, building and plant-centred activity to one which focuses on end-users and outcomes. As many choose to work for longer, the workplace increasingly has to accommodate three generations. So a big question for FM professionals is how best to balance the needs of different age groups? One such trend is the changing face of outsourcing.  The outsourcing model of facilities management delivery has come a long way since it was first introduced and is now capable of providing value far beyond simple cost savings. Outsourcing today plays a key role in supporting performance and is effectively used by   forward-thinking organisations ’workplace to boost the performance of their people. 

Mumbai has a new ‘Plan’ for 2034

5/17/2018
 Authored by Anshuman Magazine

The Maharashtra government recently gave a go ahead to the Revised Draft Development Plan – 2034 for the Municipal Corporation of Greater Mumbai (MCGM). MCGM areas include Colaba in the south to Mulund, Mankhurd, and Dahisar in the north. The original plan was supposed to come up in 2014, but was pulled back later in 2015 to accommodate recommendations from relevant stakeholders and reflect public feedback.

Bringing Down Costs in Residential Projects Through Project Management

5/17/2018
 Authored by Gurjot Bhatia

Indian real estate has been in a dynamic transformation mode for last 10-15 years. This, along with increase in population and urban sprawl has led to high demand for housing. To cater to this demand, investors and developers across India have focused their attention to construct large scale residential developments.

High demand for housing and high cost of land has led to developers opting for the most sustainable option of high rise multi story construction over the last several years. Due to this influx of residential supply in a relatively short period of the last few years, developers have had to face the challenge of manage the triple constraint of time, cost and quality. For the residential sector, cost of construction becomes the utmost priority as this is directly proportional to the type of the product (affordable, mid-range, luxury etc.). Also, the timeliness of delivery has a direct impact on the cost and the reputation of the developer. Looking to have a competitive edge, developers are turning to Project Management as an avenue to consistently deliver residential projects within timelines and projected cost.

India's real estate market will set the tone for 2018 with landmark reforms like RERA and GST in place

3/1/2018
 Authored by Anshuman Magazine

Last year, India’s real estate sector saw two major reforms come into force -- the Real Estate Regulatory Authority (RERA) and the Goods and Services Tax (GST). While a landmark tax such as the GST is expected to have far-reaching implications for sectors across the economy, its impact on real estate as a whole is likely to be a mixed bag. The complete impact on construction costs is likely to unfold over the coming months. However, aligning with the ‘Housing for All by 2022’ vision, projects launched under the Pradhan Mantri Awas Yojna (PMAY) have been kept out of the purview of the GST.

India Budget 2017 - a Four Point Agenda: Affordable Housing, Infrastructure Development, Tax Breaks and Spurring Investments

1/4/2018
 Authored by Anshuman Magazine

The Union Budget 2017-18 had many key announcements pertaining to improving the overall sentiment in real estate, affordable housing and the infrastructure segment. Measures such as infrastructure status for the affordable housing segment, tax benefits for developers and changes proposed in the long-term capital gains tax are likely to boost the confidence of both investors and consumers, while augmenting transaction activity in the sector.

Role of Project Management and its importance to RERA

7/26/2017
 Authored by Gurjot Bhatia

The Real Estate Regulation and Development Act (RERA) 2016 was passed by the Indian Parliament in March 2016, paving the way for a formal governance authority for India’s real estate sector. The RERA Bill mandates the registration of real estate projects and directs developers to delineate functions and duties of promoters and sets out penalties for non-compliance. The Act is a definite step towards bringing in greater transparency to the realty sector. The industry is likely to have teething issues with the Act coming into force; but a regulator will bring in credibility for the sector in the long run, which is likely to open up funding avenues and bring down lending costs. This is expected to come with a pinch of salt as the sector is likely to witness some changes such as consolidation of players, and increasing incidence of joint ventures for development of projects. All in all, with a few modifications, the Act could prove to be a landmark legislation, resulting in a radical shift in India’s realty dynamics.