Indian Property

DLF Launching Fully Air Conditioned Luxurious Signature Tower at New Town Heights Kakkanad

2011-02-28T00:02:00.000-08:00

Signature Tower at New Town Heights, DLF Kakkanad - a residential estate, has the enchanting scenic beauty of a mountain valley, with its gently sloping hills and lush green surroundings. Yet, “Signature Tower” DLF Kakkanad has excellent access to the rest of Kochi, being on the Seaport-Airport Road, just 750 mts from the Collectorate and within 200 mts of the Kochi Special Economic Zone (CSEZ), Muthoot Technopolis, the Info Park, the KINFRA Park, the Bio Tech Park and the fast developing Smart City.

Kakkanad – one the fastest developing residential and commercial destinations and Kochi’s future Central Business District! This picturesque hilly region has become the preferred work and residential address for several corporate houses including MNCs. Completion of the Seaport – Airport Road and proximity to National Highway 47 together has given an impetus to the growth and development of Kakkanad

Amenities:

• Laundry

• Intercom

• Groceries

• Food Court

• Yoga Plaza

• IPTV Enabled

• Bio Gas Plant

• Wi-Fi Enabled

• Healthcare Centre

• Workshop & stores

• Proposed Bank ATMs

• Underground cables

• Exclusive show rooms

• Underground drainage

• 24 hrs. Power back-up

• Beauty Parlour / Salon

• Common Area Surveillance

• Fully-equipped Gymnasium

• Courier / Postal facilities

• Car wash / Emergency repairs

• Convention Centre and Banquet Hall

• Tennis, Badminton and Squash Court

• RO plant for Ground Water Treatment

• Jogging and Cycling Track - 4-5 Kms

• Multi-level car parking - 1/2/3 per apartment

• Bore well, RWH and Municipal water for Water Supply

• Amphitheatre for group activity and for amateur theater

Specification:

FLOORING

• Vitrified Tiles at Living Room

• Imported laminated wooden flooring in Bedroom

• Antiskid Ceramic tiles, Counters in Marble/Granite flooring in Kitchen

• Antiskid Ceramic Tiles flooring in bathroom

• Terrazzo tiles/Ceramic tiles flooring in Balcony

• Grey mosaic cast in situ/ tiles flooring in servant room

WALLS

• Acrylic Emulsion walls in living and bedroom

• Combination of ceramic tiles, (up to 20 above counter) & Oil bound distemper in kitchen and Bathroom

• Paint as per external finish in the Balcony

• Oil Bound Distemper in servant room

CEILING

• Oil Bound Distemper

FITTING & FIXTURES

• Stainless steel double bowl, single drain board kitchen sink, Sink Mixer in the Kitchen

• Single lever CP fittings, White Chinaware, Glass shower partition only in master bath, towel rail/ ring (No bath tubs) in Bathroom

• Modular type switches & sockets, copper wiring (fittings like fans, light fixtures, geysers, appliances etc. not provided).

• CC TV for podium parking and entrance lobby at GF. Boom barriers at entry /exit of the complex and at entry/exit of the podiums.

DOORS & WINDOWS

• Teak veneered & polished shutter / molded skin door at entrance.

• Polished/painted frames made of hardwood & painted flush shutters / molded skin doors internally.

External glazings are powder coated aluminum

DLF Signature Tower is located at Kakkanad Kochi.

Key Distance:

• 0.3kms KMSCSEZ

• 1.5kms Info Park

• 0.3kms Technopolis

• 8kms Choice School

• 0.75kms Collectorate

• 8kms Vytilla Junction

• 1kms Sunrise Hospital

• 2.5kms Rajagiri School

• 1kms Kakkanad Bus Stand

• 14kms South Railway Station

• 25kms International Airport

• 7kms Emakulam Medical Centre

World’s Tallest Residential Building to be constructed by Middle East - Indian Joint Venture

2011-02-07T04:03:00.000-08:00

Mumbai, February 2011: Lodha Developers Ltd., who are developing the world’s tallest residential building - World One, in Mumbai, have awarded the contract for civil construction of the building to a joint venture formed by Middle East based construction giant, ACC (Arabian Construction Company) and Indian Infrastructure major, Simplex Infrastructures Ltd.

ACC has constructed some of the tallest buildings in the world, including:

• Princess Tower, Dubai (100 floors)

• Etihad Towers, Abu Dubai (74 floors)

• Pentominium, Dubai (100+ floors)

ACC has offices in 7 countries across the Middle East and its revenue was in excess of USD 1.5 billion in 2009.

Simplex Infrastructure Ltd. is amongst India’s top 3 infrastructure players and has constructed some of the most prominent structures in India, including the Supreme Court building and the Howrah bridge. It is also currently constructing the first Ritz Carlton hotel in India. Its turnover was approximately of USD 1 billion in the last year.

The contract is estimated to be worth over Rs.450 crores and is slated to be completed in a period of 38 months.

Commenting on this award, Abhisheck Lodha, Managing Director, Lodha Group said, “We are extremely pleased to award the civil construction contract for the global project to the joint venture of ACC and Simplex. ACC brings unique knowledge of high rise construction and global best practices and Simplex provides significant capability and resources in the Indian context. We believe that this consortium is best suited to build independent India’s most iconic building.”

About World One

The Lodha Group recently unveiled the World’s Tallest Residential Tower in Mumbai that will boast of over 117 stories, and will come up at Senapati Bapat Marg in Upper Worli. Designed by the world renowned Pei Cobb Free & Partners based in New York, World One will include about 300 exclusive homes, including 3 and 4 Bedroom World Residences, lavish World Villas with their own private pools and a limited number of uber-luxurious duplex World Mansions. Thanks to the unique curved form of the building, the residents will enjoy spectacular 360° views of the entire city, including the Bandra Worli Sealink, the Race Course and the Arabian Sea. The project will include a spa by the renowned Six Senses group and concierge service by Quintessentially.

India Real Estate Report Q1 2011

2011-01-19T00:59:00.000-08:00

India’s real estate market suffered heavily in the global economic downturn. After the brutal fall in rentals reported for 2009, more companies are now seeking office space on the basis that rents are bottoming out. According to a report released in October 2010 by Cushman & Wakefield, 240mn sq ft of commercial property and about 4.25mn units of residential property will be required to meet demand over 2010-2014. Office space demand will total about 55mn sq feet. Hotels will experience a demand for about 78mn room nights over 2010-2014.

Bangalore, the National Capital Region (NCR) of New Delhi and Mumbai will generate demand for about 46% of the Indian office space over the next five years. Demand for office space in second tier cities, such as Chennai and Kolkata, is expected to increase at a faster pace, at about 17% and 22%, respectively. In Mumbai, retail rentals have been on the rebound since the beginning of Q210. They are set to grow further, averaging 10-15%, by the end of the year. Vacancies are low at a time when retailers are seeking to expand, after the global downturn.

Residential property has seen increasing demand over Q210 and Q310. However, supply has been relatively low because of reduced construction activity during 2009-2010. Consequently, demand is expected to be three times the supply in 2010-2014.

The staging of the Commonwealth Games in New Delhi in the first half of October 2010 has led to a major real estate market upgrade. Residential property prices in the surrounding areas – which have benefitted substantially from improved infrastructure and connectivity – have risen steadily for at least a year, at levels of 10-15% per annum (pa). The Games Village is a premium development in a prime location.

India's economy chalked up impressive real GDP expansion of 8.6% year-on-year (y-o-y) in Q110, propelling full-fiscal year growth to 7.4% in FY2009-10 (April-March). The brisk pace of expansion has been largely underpinned by domestic demand.

BMI are pencilling in real growth rates of 7.9% in both FY2010-11 and FY2011-12, which would put the country comfortably above their emerging market (EM)-weighted averages of 5.5% and 5.1% in 2010 and 2011 respectively. However, this pace of growth is not expected to continue to accelerate as 2010 unfolds. Indeed, the signs are that BMI will see a cooling in activity.

Yet India's long-term growth dynamics are constructive, with the economy expected to enjoy the positive effects of increasing labour productivity, infrastructure build-out and a greater drive for reform. BMI are pencilling in a mean real GDP growth rate of 7.7% per annum over the next decade, higher than the 7.2% annual average seen between 2000 and 2009.

Indian Retail Sector can Witness Growth in 2011: Fitch

2011-01-19T00:44:00.000-08:00

After going through a downturn, the Indian retail sector is likely to show positive results this year with several firms witnessing buoyant sales, improved capital management and stable margins, according to ratings agency Fitch. “Retailers in the country are likely to benefit from buoyant sales, improved working capital management and stable margins,” Fitch India said in its report ‘2011 Outlook: Indian Retail’. The retail sector had suffered massively during the 2008-09 downturn with many firms closing stores and holding back on expansion.

The report said the total debt is expected to increase in most cases to fund growing capex requirements as companies focus on cementing their market share and retail footprint. “However, debt levels are likely to be supported by higher operating profits and consequently leverage levels should remain stable and are likely to improve,” it said.

The agency also said it expects liquidity to remain comfortable, led by efficient working capital management.

“Improvements are expected from better inventory management and lower lease deposit levels,” it added. Besides, retail firms are likely to witness stable operating margins this year, depending on each company’s choice on product category. “This, in addition to economies of scale, private label sales mix and discounts from suppliers will help strengthen margins,” the agency said. The report also said small retailers and new entrants are likely to go more aggressive this year, while large players are also likely to face lesser risk in executing their expansion plans.

“Given the size and scale achieved by larger retailers such as PRIL and Shopper’s, their capex execution risk has reduced considerably in line with their reduced pace of expansion,” the report said.

Haritha Heritage Villas Trichur Kerala

2009-03-30T02:58:00.000-07:00

Haritha Heritage Villas are part of 'Haritha Homes', the largest residential commune currently under construction within Trichur Corporation in Kerala. Located in lush surroundings, these homes hold out the promise of a certain idyllic lifestyle that is seldom seen in Kerala these days. Together with the adjoining Haritha Palms Apartment complex, the Heritage villas set the tone for a joyful environment with top grade amenities which you will find only at a resort. The first phase of Heritage Villas has already been delivered.
All properties at Haritha Homes, be it a Villa or an apartment, spell good investment opportunities in that appreciation is set to outpace inflation and bank interest rates.
Project Highlights
Resort-like community in the heart of Thrissur
4 villa types: 2, 3 & 4 bedroom layouts
Self-contained gated commune
Landscaped gardens
Clinic, Pharmacy, Health Club
Tennis, Badminton, & Mini-Basketball courts
Jogging track
Meditation hall, Yoga center
Ayurveda center
Gate-house with guard rooms
Playschool, Elders’ lounge
Underground electrical supply system
Street-lit development
Overhead water system
Extra high community wallParty hall, Reading room, Guest rooms
Food Court, Shopping Center
Drivers’ dormitory
Mini bus service
24-hr security with intercom facility

Specifications
StructureBrick Masonry With R.C.C. Slabs
FinishingCement Plastering For All Areas. Water Proofing Works For Slop Roof And Toilets
Entrance DoorPolished Teak Wood Door
Interior DoorsHard Wood Frames And Paneled Molded Shutters Toilet Doors Frp Doors Windows And Ventilators Hard Wood Glazed Shutters
FlooringAll Rooms Vitrified TilesKitchen /Work Area Ceramic Tiles Walls Ceramic TilesUpto 40cm In Height
ToiletsWall /Glazed Ceramic Tiles Upto 210 Cm HeightsFloor Anti-skid Ceramic Tiles
PaintingInside All Rooms Two Coat Putty And Two Coat EmulsionOutside Two Coats Anti-fungal Emulsion
Plumbing & Sanitary FittingsEuropean Water Closet, Cera/Parryware PremiumRange Cistern (Light Colour)Wash Basin Cera / Parryware Premium Range (Light Colour)Cp Fitting Cera / Crabtree /Or Any Other Approved QualityKitchen Sink - Double Bowl With Drain Board
Electrical FittingsConcealed Conduit Pipes With Copper ConductorWiring With Pvc ConduitsWires: Finolex / Rr/ Anchor Ac Points In AllBedrooms Provision For Inverter
T.V & TelephoneCable TV Provision In Living And Master BedroomTelephone Provision In Living And Master Bedrooms
Water SupplySump And Overhead TankSewage - Independent Septic Tank And Soak PitIndependent Compound Wall And Gate

For enquiry

Greencity Orchid Kaloor Kochi Kerala

2009-03-30T00:19:00.000-07:00

Greencity Orchid is a well laid out township in Kochi, the financial capital of Kerala. The development imbibes a modern lifestyle in beautifully designed high-rise buildings that is at par with the world’s best residential apartments. The township boasts of world-class facilities amidst tranquil greenery. Greencity Orchid offers 2, 3 and 4 bedroom units with space ranging from 1077 sq ft to 3373 sq ft. The wide-open living spaces enhance the joy of living with mesmerizing views from all apartments. Greencity Orchid is a perfect residential location with easy approach to all major commercial and leisure hubs in Kochi as well as nearby areas.

Greencity Orchid in Kochi, Kerala at a glance:
Grand entrance lobby
2, 3 & 4 bedroom units
Apartments range between 1077 sq ft & 3373 sq ft
Earthquake resistance RCC Pile foundation & structure
Acrylic & emulsion paint wall finishing
High-grade mirror finish vitrified floor tiles in all rooms
3 phase power supply with concealed copper wiring in PVC conduits
Designed hardwood front door with imported locks & brass fittings
Granite kitchen platform & stainless steel sink with drain board
Good quality sanitary fixtures
3 lift in each building
Centralized gas supply

Location
Nestled in the heart of Kochi, Greencity Orchid is easily accessible from all major hubs of Kochi. The apartment complex is spread over an area of 2.3 acres surrounded by lush green meadows and manicured gardens. With all excellent amenities within your reach, living here is going to be a refreshingly different experience. An abode at Greencity Orchid is a nature lover’s delight having loads of open space and greenery that characterizes much of Kochi.Greencity Orchid at Kochi is
Close to Ernakulam Town
Minutes from Marine Drive
22 km from international airport
Short drive to nearby bus station, railway stations & port

Vyttila Jn. 8km
Smart City 12km
Ernakulam Jn.(Railway station) 5km
Ernakulam Town 3km
M.G.Road 4km
Marine Drive 5km
International Stadium 1.3km
Airport 25km
KSRTC Bus stand 4.5km
Collectrate 7km

Construction is in full swing completed 14 floors

For Enqury

Haritha Palms Luxury apartments At Trichur

2009-03-30T00:03:00.000-07:00

Haritha Palms is a fully developed enclave nestled among pristine surroundings in Trichur, the cultural capital of Kerala. Home to 78 tastefully designed apartments in 2 towers; the project is a tranquil residential commune set in 12 acres of prime land. Together with the neighbouring community of Heritage Villas, Haritha Palms constitutes a resort-like township in the heart of Thrissur, enabling residents to savor the beauty of their surroundings in peace. Designed by experts, all apartments at Haritha Palms adhere to international standards of comfort and elegance.

Project Highlights
4.5 kms from Swaraj Round in Trichur
Part of Trichur City Corporation
Construction in progress
Stands on naturally level land with no issues of water stagnation & scarcity
KSEB electric supply with separate metering with E.L.C.B.
More than 70% of the total development has thick vegetation including flowering plants & trees
Amenties of international standards
Health club, Tennis, Badminton & mini Basketball courts
Jogging track & Yoga centre
Meditation hall & Ayurvedic centre
Roof-top swimming pool
Affordable prices

Amenities
Ample parking facilities
Guest parking
Car washing space
Party space at roof top
Roof top swimming pool
Intercom facilities
Rain water harvesting
Drinking water supply at kitchen sink
LPG reticulate pipeline system
2 light/fan points to each flat from generator supply
Fire & safety – provided as per the government safety norms
Bonus Facilities
Residents of Haritha Palms, Thrissur could also avail of the facilities earmarked for the adjoining Heritage Villas.
Extra High Campus Wall
Gate house with guard rooms
Street lit campus
Overhead water supply system
Under ground electrical supply system
24 hours security with intercom facility
Health club
Tennis, Badminton & mini Basketball courts
Jogging track & Yoga centre
Meditation hall & Ayurvedic centre
Clinic
Pharmacy
Party hall
Landscape gardens
Play school
Club house
Elders lounge
Reading room
Guest rooms
Food court
Shopping centre
Mini bus service
Drivers’ dormitory
StructureR.C.C framed Structure. Solid Block Masonry. Plastered with Cement Mortar. Water Proofing works arranged for Terrace and Toilet floors.FlooringVitrified tiles for living and dining rooms. Ceramic/ Semi Vitrified tiles for Bedrooms, Kitchen & Work area. Anti-Skid Ceramic tiles for Toilets.Sanitary & water supply fittingsConcealed Plumbing with PVC Pipe Provision. European Closet with Cistern and Wash Basin from Cera/ Parryware Premium Range (Superior Colour). Cera / Crabtree or any other approved quality for CP Fittings. Kitchen Sink - Double Bowel with Drain Board Soap dish, Towel rod - Standard
ElectricityThree Phase Power Supply with concealed wiring with PVC Conduits. Wires. Finolex /RR/ Anchor. Switches from Legrand / Crabtree / MK / Roma. AC Points for 2 Bedrooms.
TV, Telephone & InternetTV Points for Living and Master Bed Room. Telephone Points for Living and Master Bedroom. One Internet Cable Point for each Flat.
Provision for Inverter
Doors & WindowsMain Door made of Teak Wood and polished finish. Internal Door Frames and Door Panel of good quality Hardwood / Molded Door Shutters. Powder-coated Aluminum Windows and Ventilators with M.S. Grills. FRP Doors for Toilets.
PaintingInternal Walls with Putty Finish - 2 Coat Putty and 2 Coat Emulsion inside all rooms.External Finish - 2 Coat Antifungal Emulsion
Water supply & Sanitary arrangementsSump Tank and Overhead Tank for Water StorageWater Supply from Open Well/ Bore Well.Separate Water Connection from Overhead Tank to each FloorSeptic Tank and Soak pit arrangement for Sewage Treatment and Pollution Control.

For Booking Click Here

Even affordable housing's hard to sell

2009-02-24T01:40:00.000-08:00

Realtors seem to be getting deeper into trouble. Affordable housing, which many had clambered on to in a desperate bid to keep toplines intact, is proving a less than stable plank, much less a buoy.

DLF, India's top developer, could sell only 77 units last quarter, compared with 400 units in the two quarters preceding the last. Indeed, going by analysts, of all the verticals, affordable housing performed the worst for the company, forcing it to bring down project prices in various locations.
DLF has begun to re-launch projects, which had seen lesser sales or were halfway through, at lower prices. It has re-priced products with a minimum 25% discount and re-designed homes into smaller sizes. The company is also entering the low-income segment.

Margins are understandably under pressure -- affordable housing doesn't fetch the margins other projects do and premium projects have all been stalled. Earlier, DLF used to make margins of over 60% in the premium segment. This has fallen to around 25% in the affordable projects.
In fact, even in the affordable segment, DLF had managed to sell properties in the range of Rs 40-60 lakh. Today, prices are down to levels of Rs 25 lakh to Rs 38 lakh.In fact, the developer has to sell three homes in the lower segment to equal the margin it could get on sale of a single premium project, which is not happening. It just cannot afford to have 15% of the project unsold, because here it is all about volume sales.

A DLF spokesperson said the company is going to launch a series of projects in the affordable housing segment and would try to sell off the entire project in the pre-sales period itself.
But analysts do not expect any recovery in project sales before the second half of next fiscal, the developer's best efforts notwithstanding.
Analysts Sameer Baisiwala and Arunabh Chaudhuri of Morgan Stanley wrote in a report released on February 19, "Our channel checks suggest customer sentiment remains weak and transaction volumes are low."
Even Parsvnath Developers, another player from Delhi, was unable to generate sales in the affordable segment last quarter. The company, which has the highest area under construction, reported an 83.5% fall in the cost of construction, suggesting a near stoppage of project execution.
An analyst with a domestic brokerage said Parsvnath has not been to sell anything and that if it continues to stick to projects without lowering prices, "nobody can help them."
While no developer has a ready-to-move-in property as of now, affordable housing is losing sheen for developers. Going by analysts, even as the inventory is yet to hit the market, buyers who had booked homes are cancelling payments because of a reduction in prices. Bookings, which happened in the last six months, are facing the maximum cancellations, increasing receivables of developers. Most developers have not yet started construction on projects, either due to changing product dynamics or regulatory issues.

Dlf slash Property prices for its Garden City project

2009-02-24T00:28:00.000-08:00

DLF on Monday announced a hefty price cut, ranging from Rs 3.6 lakh to Rs 12.6 lakh, for its
residential project Gardencity - on the Old Mahabalipuram Road (OMR). It would benefit existing as well as new customers, said K K Raman, executive vice president, DLF Chennai. The builder has introduced four price slabs, three for old customers and one for new entrants. Those who booked apartments during the soft-launch of the project, at Rs 2,800 per sq ft, would get a discount of Rs 300 per sq ft. The new price for those who booked at Rs 3,000 per sq ft last year is Rs 2,550 per sq ft. The maximum discount of 18.75 per cent Rs 600 per sq ft has been given to those who booked at Rs 3,200 per sq ft between August 2008 and February 2009. The price for new customers is Rs 2,650 per sq ft; the price will hold till May 31, 2009. While the minimum savings on the smallest apartment 1,200 sq ft at Rs 300 per sq ft works out to Rs 3.6 lakh, the maximum benefit for the largest apartment 2,100 sq ft at Rs 600 per sq ft is Rs 12.6 lakh. This is also the highest price cut announced for an ongoing project by any promoter in Chennai after the economic crisis set in. Significantly, the promoter has also decided not to collect any interest for delayed payment from existing customers. Speaking about reasons for taking such a drastic step, Raman said: "With unprecedented events in the world economy affecting the real estate sector here, bringing changes in input cost and interest rates, DLF went back to the drawing board and created further efficiencies. These benefits are being passed on to consumers." DLF entered Chennai's residential sector with a bang in January 2008 by announcing the biggest project of 3,493 apartments spread over 53.5 acres in Semmanchery, 2 km off OMR. Its soft-launch made headlines with close to 2,200 people booking flats in less than two weeks. All major empanelled realty consultants were in the race for clocking the maximum number of bookings for the project. Three months later, when the formal launch happened, several hundred customers opted out, perhaps anticipating the market downturn in the months to follow. The DLF sales team took several months to make up for those cancellations. Currently, the project has about 1,800 bookings in the first two phases. Ramesh Nair, MD, Jones Lang LaSalle, an international realty consultant, said: "DLF's price revision could drive up demand for the project as it becomes more affordable for home buyers. It will also lead to most developers reducing their unit sizes and building specifications apart from reconsidering their pricing strategy." At least half-a-dozen residential projects on OMR, in which private equity funds, mostly foreign, have been parked on a pre-agreed condition that sales will be effected at a minimum price of Rs 3,200 per sq ft, will be affected by the DLF move. Also, customers who had booked apartments in other ongoing projects on OMR at higher prices could apply pressure on their builders. In short, a price correction for properties on the much-hyped OMR is perhaps underway.

DLF and Unitech India’s biggest property developers profit plunged to record lows

2009-02-01T22:28:00.000-08:00

DLF Ltd. and Unitech Ltd., India’s biggest property developers, said quarterly profits plunged to record lows as the deepest economic slump in six years damped demand for homes, offices and malls.

Net income fell 69 percent to 6.71 billion rupees ($137 million) in the three months ended Dec. 31, DLF reported, missing the 15.9 billion rupee median estimate of analysts in a Bloomberg News survey. Unitech profit slid 74 percent in the same period to 1.36 billion rupees, short of analysts’ 3 billion rupee forecast.

Steeper-than-expected slides in earnings at the New Delhi- based companies underscored the mounting financial challenges the nation’s real estate sector faces, with developers caught between a cash crunch and dwindling demand. An equities slump and the global credit contraction choked funding as property purchases slowed following a six-year rally in prices.
“Real estate companies are in a ‘Catch-22’ situation where getting money incrementally is difficult,” said Jayesh Shroff, who helps manage $2 billion in equities, including DLF, at SBI Asset Management in Mumbai. “They’ll have to push for higher sales, and for that will need to sweeten the deal for buyers.”

DLF’s sales fell to 13.7 billion rupees during the quarter from 36 billion rupees a year earlier. That compared with the 33.7 billion rupee median estimate of analysts. Sales at Unitech fell to 4.9 billion rupees, compared with the 8.79 billion rupees forecast by analysts.
‘Painful Adjustment’
“We expect this painful adjustment to continue for at least the next two quarters,” Sameer Baisiwala, an analyst at Morgan Stanley in Mumbai, wrote in a report Jan. 29. “Weak demand and limited ongoing projects underline our continuing ‘underweight’ rating” on DLF, he said.
Housing prices fell as much as 40 percent in central parts of Mumbai, India’s commercial hub, and transactions dropped during the quarter to Dec. 31, Sanjay Dutt, chief executive at Jones Lang LaSalle Meghraj Property Consultants (India) Pvt., said in an e-mail on Jan. 23. Prices in Delhi and Bangalore dropped by about 8 percent, he said.
Growth in Asia’s third-largest economy has slowed for two straight quarters and the central bank is forecasting an expansion of 7 percent for the year ending March 31, the weakest since 2003. Foreign investors, instrumental in driving the economy’s record 9.3 percent expansion in the three years to March 2008, are fleeing. Last year they pulled $13.1 billion out of local stocks after buying $17.2 billion of equities in 2007.
Housing Shortfall
Still, India faces a shortfall of 30 million low-cost houses, Tushar Poddar, an analyst with Goldman Sachs Group Inc., said in a note on Jan. 20.
The Reserve Bank of India, the central bank, has slashed its benchmark rate by 3.5 percentage points since October to an all- time low to bolster demand and growth. State-run banks on Dec. 15 agreed to offer loans at lower rates to home buyers seeking to borrow up to 2 million rupees.
State Bank of India, the nation’s largest, said yesterday it will keep interest rates on home loans unchanged at 8 percent for a period of one year.
“DLF is one of the few companies to have resources and a good quality land bank and will likely benefit from lower competition as demand improves,” Puneet Jain, an analyst at Kotak Institutional Equities, wrote in a note to clients on Jan. 27. He rates the stock “add” and values DLF’s land holdings at 662 billion rupees.
Worst Performer
DLF is the worst-performing benchmark stock in India this year with a 37 percent decline. Its 78 percent slide in the past 12 months surpassed the 48 percent drop in the benchmark Sensex. The stock rose 8.3 percent Jan. 30 to 177.65 rupees in Mumbai. Unitech, which dropped 92 percent in 2008, gained 2.7 percent Jan. 30 to 32.15 rupees. The Bombay Stock Exchange Realty Index has lost 84 percent over the past 12 months.
Unitech’s credit rating was cut to non-investment grade on Jan. 14 by Fitch Ratings, which cited concern about the developer’s ability to repay debt amid a slowdown in demand. The following week, the company paid or won extensions on three- quarters of the 25 billion rupees in loans due by March.
The company needs to make interest payments of 3.5 billion rupees each quarter at an average cost of 14 percent, according to Kotak’s Jain.
To contact the reporters on this story: Sumit Sharma

Severe Decline in Demand for Luxury Real Estate in India

2009-01-31T22:54:00.000-08:00

A survey by global real estate consultancy Cushman and Wakefield (C&W) has revealed that average capital values of luxury properties in posh localities across major metros have fallen by 10%-20% during the last three months. Residential rental values for the same segment have also been affected, with some locations witnessing a drop as high as 20-25%. For instance in Delhi, residential capital values of luxury properties such as Shanti Niketan, Westend and Vasant Vihar, GK I and II and Maharani Bagh have dropped by 10% over the last three months. Rental values have also followed a similar track and have seen a 6% drop over the same period. Areas in South central Mumbai such as Altamount Road, Carmichael Road, Malabar Hill, Napeansea Road and Breach Candy have seen a decline of 7% in average capital values during the last three months. The impact has been more visible in the rental values in these areas where a drop to the tune of 19% is being witnessed whereas locations in So uth Mumbai such as Colaba, Cuffe Parade, Nariman Point and Churchgate have seen a drop of 12% in rental values over the same period.

Semi Luxurious Apartment, Latest Ploy Of City Developers

Real estate developers have come up with a new gimmick to attract buyers. After budget-houses, builders have come out with 'semi-luxury' flats to cater to high-end buyers Hindustan Times reports. The purpose is to provide various amenities offered by premium projects, but keep the houses affordable by making them smaller. Such houses cost 10 to 20 percent more than low-cost houses but 30 to 35 percent cheaper than luxury apartments. Buyers would be provided facilities like clubhouses, landscaped gardens, children's parks, swimming pools and modern security equipment. These apartments are located in prominent or easily accessible areas unlike affordable houses, which are in far-flung suburbs.

Brigade Metropolis Bangalore

2008-12-17T02:06:00.000-08:00

For a better quality of life, upgrade to Brigade

The 40-acre Brigade Metropolis is an integrated enclave located at Mahadevapura on Whitefield Road in Bangalore. With three distinct zones for business, retail and residential purposes, Brigade Metropolis will form an organized, self-contained and happy world, all in itself. This is an integrated residential enclave of beautiful, intelligently designed apartments that offer the luxury of essential facilities and services right on your doorstep! Mahadevapura is fast developing into a vibrant extension of Bangalore with malls, multiplexes and a finally into a hub of young motivated professionals. Brigade Metropolis is just 10 kilometers from Trinity Circle, M.G. Road and 13 kilometers from HAL Airport.

Residential Zone

The Residential Zone at Bridge Metropolis comprises 12 nineteen storey apartment towers with landscaped areas in front, between them and behind:

Acton
Brixton
Conventry
Dartmouth
Earl's Court
Finsbury
Greenwich
Hampstead
Inverness
Jackson
Kensington
Liverpool

Each tower is designed to offer maximum light, ventilation and privacy to its occupants. Since the entire residential section is built on an elevated podium, all towers are interconnected below the ground level.

Business Zone

The enclave's Business Zone consists of 2 towers - Summit 1 & 2, built on 4 levels of covered parking. The two towers will be connected sky-bridges at various levels.

The Arcade

Located at the entrance to the enclave, separated from Summit 1 and 2 by the stretch of The Promenade, The Arcade will offer 100,000 sq. ft of excellent retail and small office space. It is designed as the neighborhood shopping center, spread across 4 storeys. The Arcade will service the needs of the enclave's residents and users, as well as people living and working in the vicinity. Facilities include a supermarket, fruit and vegetable stalls, a cold storage, 24-hour pharmacy, clinics, beauty parlor, ATM, cafeterias and a food court. The Arcade will also house business centers and provide small-office space for professionals.

Project Highlights

40-acre integrated enclave
Architecture by Thomas Associates
1,584 apartments
2- & 3-bedroom property types
Currently under construction
The Arcade: neighborhood center for shopping and small offices
Regent Club: a 50,000 sq. ft club with swimming pool, sport facilities & gym
Beautiful landscaping
Several theme gardens: Reflexology, Maze and Fragrant
Floral walk, amphitheater, party lawns, Skate Park, dance plaza & bandstand
Summit 1 and 2: two towers offering approximately 800,000 sq. ft of space - ideal for software development or corporate offices
Multi-level parking
The Brigade School in the vicinity

Floor Plans

Type	View
Master Plan	View

Type	Bedrooms	View	Enquiry
.	2	View	Enquiry
.	3	View	Enquiry
A	3	View	Enquiry
B	3	View	Enquiry
.	3	View	Enquiry

Brigade PalmSprings Bangalore

2008-12-17T01:50:00.000-08:00

Elegant secluded retreat

Featuring spacious 3-bedroom apartments, Brigade PalmSprings is an elegantly designed residential complex in J.P. Nagar in Bangalore city. All properties overlook an aesthetically landscaped environment with a clubhouse and swimming pool. The PalmSprings properties will be spread across two towers. Each apartment is designed to be striking and modern and will offer a well-planned layout with high quality specifications.

Project Highlights

Located in J.P. Nagar Bangalore
Easy access to Electronic City and Mysore Road
2 aesthetically designed towers
3-bedroom luxury apartments
Exclusive Clubhouse
Swimming Pool
Landscaped environment Self-contained locality with schools, colleges, hospitals & shopping complexes

The clubhouse at Brigade PalmSprings will be a vibrant common area where residents can relax and unwind. It will offer facilities such as a full-fledged gym, indoor games, party area and swimming pool. Residents will also benefit from Brigade PalmSprings' other notable features: nicely landscaped gardens, children's play area and adequate parking.

Floor Plans

Type	View
Master Plan	View

Type	Bedrooms	View	Enquiry
.	3	View	Enquiry
.	3	View	Enquiry
.	3	View	Enquiry

Battered Realtors expect relief package from government

2008-12-10T03:15:00.000-08:00

The urban development ministry has drafted a bailout package for the real estate industry, which would be shortly sent to the finance ministry for consideration. The ministry has called for relaxation in norms for foreign loans so that realty companies can tide over the liquidity crunch, urban development secretary M Ramachandran said on Monday. The note has also urged the finance ministry to consider other sops like rescheduling of total debt of the real estate industry and reduction in home loan rates for affordable houses. “We have included some of the demands from the National Real Estate Development Council (Naredco) in the note. Once the finance ministry clears the package, it will go for Cabinet approval,” Ramachandran said.

Naredco has asked for a reduction in the interest rate on home loans by at least 3-4 %. The rate of interest on home loans has drastically gone up from around 7.75% in 2004 to around 12.75% now. Almost 90% of home buyers opt for loans to buy homes. But with the hardening of interest rates, and liquidity crunch in the market, demand for houses has been hit. The council has also asked for rescheduling of bank debt to developers with a moratorium of one-two years. The total debt of the real estate is to the tune of Rs 25,000 crore, a Naredco statement said. The industry body has also asked for an easing of norms for foreign loans and declaration of ongoing projects as NPAs.

Meanwhile, to bring about correction in the property prices, the Naredco has asked its members to cut prices by reducing costs, cutting profit margins, reducing advertising and brokerage costs. Its members include DLF, Ansal API, Unitech, Parasvnath Developers, Sobha developers and several other realty companies. There are several factors working against the Indian real estate sector. Banks are getting jittery over loan disbursals to real estate developers. Even if the developers manage to get loans from banks, they are hardpressed to keep more collateral with the banks. To further aggravate the situation, the property market has also been witnessing a drop in PE fund flow.

Indian Real Estate Firms Face a Reality Check in 2008

2008-12-10T02:33:00.000-08:00

Future economic historians may remember the month that just ended as Black September. Lehman Brothers collapsed; the Bank of America acquired Merrill Lynch; AIG was nationalized; banks such as Washington Mutual and Wachovia were wiped out. As credit and finance markets around the world tumbled like ninepins, so did stock markets in India, with the Bombay Stock Exchange Sensitive Index (Sensex) falling 3.35% or 469 points on September 15. The worst affected was the realty index which dropped 7.6% on the same day. Since then, while stocks prices in India have seen massive swings, shares of real estate firms have remained depressed, falling a total of 20% as of October 1.

In addition to housing stocks, home prices are taking a beating. By some estimates, prices have dropped by 25% in certain urban markets. While in the U.S. -- and also in Britain -- the subprime mortgage mess has seen home prices fall dramatically, in India, such slowdowns have been rare -- at least in the past. Prices may soften, sales activity may slow and occasionally a distress sale occurs, but there has not been an overall fall in home prices. "India has not seen a boom-bust cycle in real estate mainly because the industry is still nascent," says Anurag Mathur, joint managing director of Cushman & Wakefield, a global real estate solutions company. "India has not seen a boom and bust cycle in almost any sector," adds Rajesh Chakrabarti, a professor of finance at the Hyderabad-based Indian School of Business (ISB). "While there have been variations, we have not had cycles of the kind we see in the developed countries. It is only after liberalization that the Indian economy has been seeing more cyclical movements."

According to Irfan Razack, chairman and managing director of the Prestige Group, a Bangalore-based real estate developer: "We have boom and bust cycles in India but because of our huge population, the demand keeps growing and that sustains the industry. You can build for the next 100 years and there will still be demand for housing in this country."

India has inadequate data on the real estate sector. For instance, no one tracks housing starts, an indicator that is regarded in many countries as an important yardstick of economic health. However, several real estate companies have gone public during the past couple of years, which makes information more transparent. Secondly, equity analysts have begun tracking these companies and the real estate industry.

Still, confusion continues. Consider the reaction of the markets to the Lehman collapse. Real estate was hit for two reasons. Lehman had invested $200 million in DLF Assets, a company belonging to DLF, India's largest real estate company. It had also acquired a 50% stake in Unitech's Mumbai project for $175 million. (Unitech is India's second largest real estate company.) Among other Lehman investments or proposed investments were those in the Mumbai-based Peninsula Land Ltd. and Housing Development & Infrastructure Ltd. (HDIL).

The market was worried that if the money had not already been received, the projects would be in limbo. Most companies (Unitech, for one) claim that the cash is already sitting in their bank accounts so there is no cause for concern. Others, like HDIL, have said the deals were not with Lehman Brothers but with sister companies. These are unlikely to be affected.

The crunch might hit in the future. "With banks reducing their exposure to real estate, coupled with rising interest rates and volatile stock markets diluting the confidence of retail investors over the past one year, private equity investments have emerged as one of the most important sources of capital for real estate developers," says a FICCI-Ernst & Young (E&Y) report on the Indian real estate market released in early September. "The overall private equity investments reported in the real estate sector in India from August 2007 to July 2008 are estimated to be more than $5 billion." This tap could be turned off as a result of the financial crisis in the U.S.

Real estate investors in India were also worried that Lehman might resort to a fire sale of its assets. While India has a three-year lock-in period for foreign direct investment (FDI) in real estate, it is unclear whether this applies when a company declares bankruptcy. The government is holding a meeting to decide the norms in such cases. The other issue is that Lehman holds small stakes -- bought from the market or in bulk deals -- in real estate and infrastructure companies such as IVRCL Infrastructure, Consolidated Constructions, Orbit Corporation and Vijay Shanti Builders. Here, too, there was the possibility of a fire sale, encouraging other investors to bail out.

Temporary Slowdown

Amid this gloom and the real estate-bashing that is going on in the market, many people are optimistic about the sector. Even the bears see only a temporary slowdown. "The Asia-Pacific property markets, which have seen a rapid run-up in rents and capital values in recent years, are now entering a slowdown that will continue over the next 12 months at least," says a report by real estate consultants Jones Lang LaSalle (JLL). Shobhit Agarwal, joint managing director (capital markets) of JLL Meghraj (JLLM), the global company's Indian division, says there is still some pain left. "There is now a period of stagnation, soon to be followed by a fall in prices in certain sectors and locations. Certain overheated micro-markets will see a 5% to 15% price decline. A correction of up to 10% is also expected in South Mumbai, some locations in Mumbai's suburbs, and certain areas of New Delhi that have seen unrealistic price trends.... The market will eventually consolidate."

"In the short term, we expect the market to consolidate," echoes a spokesperson of DHL. "We have not been impacted by any slowdown. We have launched many premium residential projects across the country during the past six months and have gotten a very good response. We feel that the market is moving in the right direction and there is no bubble to burst."

"In the past three to four years there has been a huge inflow of companies and funds in the real estate sector," says Chakrabarti of ISB. "It is possible that there may be a bit of a shake out and consolidation now. Given the fact that we have already seen a 20% to 25% correction, I don't expect prices to fall much further. It will probably now grow at a decent enough rate. Also, infrastructure development is a major area of emphasis and this will fuel real estate prices, especially in the smaller towns."

The problem seems to have affected residential property rather than commercial real estate or infrastructure developers. Several factors have contributed to this. First, the Reserve Bank of India (RBI) has been raising interest rates to tackle inflation. As a result, housing finance companies have had to raise rates on loans. In 2004, interest rates on housing loans were 7.75%; they have now gone up to 12.75%. On a $50,000 loan borrowed for a period of 20 years in 2004, the interest burden was around $48,000. This has now gone up to more than $100,000.

Most housing loans in India are at variable rather than fixed interest rates, which means that monthly mortgage payments -- or EMIs (equated monthly installments), as they are called in India -- go up when interest rates rise. As a first measure, housing finance companies increase the term of the loans. When that period extends beyond the working life of the home buyer, the EMIs are increased. Housing finance companies typically consider EMIs up to 50% of net income. If, in extreme cases, these payments double, home buyers can be left with nothing to live on.

Understandably, defaults on loan repayments are increasing. While specific numbers are hard to come by, bankers say this could develop into a crisis. The financial meltdown in the U.S. -- and the turmoil in the finance sector, which is a key market for information technology and IT-enabled services -- has seen a large number of finance professionals lose their jobs. These young, upwardly-mobile executives were the new generation of house buyers. They are now saving for the proverbial rainy day -- which has arrived. Confidence levels are down and house purchase plans have been put on the backburner.

Finance companies and banks are also being careful about approving loans. Their vetting process is taking more time. Even people who want loans and have the capacity to service their EMIs are being put through greater scrutiny.

Business as Usual?

India's largest mortgage company, Housing Development Finance Corporation (HDFC), however, says that it is business as usual. As Renu Karnad, HDFC joint managing director, told CNBC TV 18: "The demand story is a compelling one. Its plot is often repeated by HDFC's senior management that younger and younger Indians are opting for home loans. The average age of borrowers is down from 40 years to 35 years. Thanks to tax breaks, the effective cost of a loan works out to a moderate 6%. Unquenchable housing demand has the country short of 25 million homes. The loan market is a vast untapped one yet. It has taken 30 years for mortgage penetration to grow from 2.5% to 6% of GDP. With middle India kicking in, HDFC is confident that unlike other consumer goods, home loans are not that vulnerable to a slowing economy."

The FICCI E&Y survey agrees. "Despite the momentary slowdown witnessed over the past 12 months, 62% of developers foresee Indian real estate embarking upon a high growth trajectory in the long term," says the study. It does, however, point to one change. Real estate had become a speculators' haven. Now, seeing no hope of quick returns, they are bailing out. Builders believe it's the speculators who are responsible for the perceived slump. Once they are squeezed out -- many are selling at whatever price they can get to take care of their stock market losses -- things will return to normal. The study notes, "Respondents believe that genuine end-users have taken over from investors and account for 80% to 90% of sales in their current projects."

What are real estate companies doing to deal with the downturn? Well, they are putting their eggs in different baskets. In a way, it is a replay of the rush into real estate. Over the past decade, companies with no experience in property development had entered the market. Some had legitimate reasons. The textile mills in Mumbai, for instance, had been priced out of the market because of high labor costs. One of the first off the block -- Phoenix Mills -- has converted itself into a commercial, residential and entertainment complex. In August this year it raised 200 million euros from German real estate fund MPC Synergy for further development. Morarjee Mills has moved its operations to smaller (and cheaper) cities. Its properties are being developed by its real estate wing -- Peninsula Land.

In addition to the textile mills, 70-year-old Nesco Engineering, a moribund company, is today thriving because it has set up an exhibition center on its Mumbai property and has plans for an IT park. Media Video, an electronics games manufacturer and distributor, has recently listed its real estate subsidiary MVL. Its market capitalization at $87 million is eight times that of its parent. The Kolkata-based Emami group, a FMCG player, has moved into malls and housing complexes.

Now, real estate companies are exploring new investment opportunities. Builders of residential property are taking to developing commercial space. Others, such as Raheja -- a leading homebuilder -- are constructing special economic zones. Omaxe is modernizing and maintaining airstrips. DLF, Unitech and Omaxe are bidding for road projects being offered by the National Highways Authority of India. The Brigade Group is building a health spa in Chikmagalur near Bangalore. It will run the spa in tandem with Singapore-based hospitality brands Banyan Tree and Angsana. Sobha Developers already has an ayurvedic spa offering the traditional Kerala ayurvedic massage at Sobha City in Thrissur in Kerala.

Overseas Markets

The second trend is a move abroad to market real estate companies' products, raise funds, source raw materials and launch projects. PRA Realty has set up shop in Chicago to be closer to venture funds. It has also opened a marketing office in Dubai. According to JLLM, non-resident Indians (NRIs) are major buyers of Indian properties, accounting for up to 25% in certain categories.

Sobha Developers has opened an office in China, from which it sources a lot of raw material. It is building a five-star hotel in Dubai. Parsvnath Builders has a subsidiary in Singapore. Puravankara Projects has started operations in Sri Lanka to build super luxury villas on the outskirts of capital Colombo. It already has a presence in the UAE. "Considering that every market is subject to fluctuations, diversification is certainly the best hedging tool for avoiding the pitfalls of sudden downward movements in any sector," says Agarwal of JLLM. "If one component fails to generate anticipated returns, others will compensate."

Other real estate companies are casting their nets wider and embracing every opportunity that comes their way. Unitech has already made a foray into telecom. It is now eyeing insurance. Preliminary talks are on with a foreign major. Omaxe is moving into steel and cement. It has on its drawing board plans for a medical college and a hospital.

Mantri Realty has earmarked $500 million for a thermal power plant in Nagpur. The Hyderabad-based JR Realtors has aquired a 10% stake in Pennar Aluminium. Indiabulls Real Estate is setting up a solar power plant in the Bastar region of Chhattisgarh. Sobha has even moved into retailing mattresses under the brandname Restoplus. IT major Infosys has already placed the first order.

HDIL has lined up a whole array of diversifications. It is getting into entertainment under the Broadway brand name. It plans to invest $200 million in a chain of 150 theaters. It is also building a coal-fired power plant. It will begin power trading soon. In perhaps the oddest move, it is bidding for oil and gas exploration blocks being auctioned by the government. "Although oil and gas is completely disconnected from our core business and what we are doing now, I can say that it will help in providing better services to customers who we serve in our projects," Sarang Wadhawan, managing director of HDIL, told business daily Mint recently.

"In the long run, given that the India growth story is likely to continue, real estate prices will certainly increase," says Chakrabarti of ISB. "However, they will not see a meteoric rise as they did earlier. It will be a more stable market. Real estate companies are therefore diversifying into different areas where they expect better growth (like telecom). This is probably not so much by choice as by compulsion. It also reduces their risks. In some sense it is sensible given that the market conditions have changed, but whether it plays out in the long run remains to be seen. In general [not just with regard to real estate] unrelated diversifications don't work out very well."

The efforts of various companies haven't had much impact on their share prices. As a high share price is necessary for fund raising, some companies are trying financial engineering. DLF, for instance, has announced a share buyback, but it is also seeking fresh funds. Analysts wonder how the two can go together. "Promoters work in the best interests of the company," responds a DLF spokesperson. "The DLF share has been quoting much below its intrinsic value. We see the share buyback decision as a highly attractive opportunity for our shareholders and a strategic move of sharing returns with investors." HDIL, meanwhile, has come out with a 2:7 bonus issue. All this doesn't appear to have helped sentiments much; both the shares -- as with most real estate companies -- are quoting below their original IPO price.

"The companies that went public rode the boom, and they will bounce back once the markets and the sector picks up," says Razack of the Prestige Group. "At that time the valuations were so aggressive that we were also tempted to go public. We didn't do it because one can't really show quarter-on-quarter growth in real estate. It becomes more [like] window dressing."

Affordable Housing

Another major area into which many real estate firms are moving is affordable housing. Puravankara has set up a wholly-owned subsidiary -- Provident Housing & Infrastructure -- which will build 64,500 homes in Bangalore, Chennai, Hyderabad and Coimbatore over the next five years. Omaxe has set up the 100%-owned National Affordable Housing and Infrastructure, which will invest $20 billion over the next five years in building one million such homes. Many other builders are also climbing on the bandwagon.

The rush is partly explained by the response to government-led housing programs. The public sector Maharashtra Housing and Area Development Authority (MHADA) plans to sell 600 low-priced apartments in Mumbai around Diwali. They will be priced around $50 a sq. ft., at a time when market rates are four times as high. MHADA expects 200,000 applications; there will be a lottery to decide the buyers. Demand for such housing is obviously very strong. A similar prgram earlier this year for 900 apartments attracted 65,000 applications. In Delhi too, the Delhi Development Authority has received 850,000 applications for 5,010 low-cost apartments.

"Affordable housing, until now, was not a part of the Indian real estate sector boom," says the FICCI-E&Y report. "However, affordable housing has recently attracted attention from prominent developers and private equity players. The investment rationale for this asset class largely encompasses an early mover advantage, volume-driven profitability, priority-sector status accorded by government and subsidized land costs, among other drivers."

Yet skeptics see dangers here. First, affordable housing may end up as substandard housing as builders cut costs to maintain margins. Second, affordable housing will go to the less-privileged classes, financed by easier norms for bank loans. Earlier this year, the government wrote off $15 billion of farm loans, which severely impacted its finances. Some observers fear that "affordable home loans" could face a similar fate. They are, after all, subprime mortgages of the kind that sparked the housing crisis in the U.S.

The consensus view about Indian real estate is that the slowdown is temporary but lots of reasons exist for optimism about the future. "Short-term concerns on the sector remain," says a report by research house Enam Securities. "End user demand (is) subdued on account of high capital values and global uncertainty keeping the capital markets under check. Developers remain strapped for liquidity. However, the long-term outlook (is) still positive. Favorable demographics, increased urbanization and higher disposable incomes will result in continued demand." According to Mathur of Cushman & Wakefield, "If you believe in the India story, the outlook for real estate, which is a critical part of the whole development process, is bright. I am very bullish about it."

2008-12-10T02:11:00.000-08:00

Overview

DLF Riverside - Deluxe waterfront retreat!

Set in idyllic surroundings in Kochi, the business and IT nerve centre of Kerala DLF Riverside is a sylvan sanctuary ensuring much-needed peace and solitude. Planned on 5 acres by the side of Chilavannoor River at Vytilla, Kochi, DLF Riverside bespeaks of the serene backwaters of Kerala. A veritable paradise where land, sea and sky come together in a union of elements!

What is DLF Riverside?

Spread over 5 acres by the side of Chilavanoor River at Vytilla, Kochi, DLF Riverside is a self-contained community of 5 residential towers, ranging from 12 to 20 floors. Flaunting a 175-metre waterfront area, this luxury condominium is easily accessible from the National Highway and is in close proximity to Kakkanad, the emerging IT hub of Southern India.

Among them, the 5 residential towers offer 176 3 & 4 bedroom luxury apartments as well as 4 bedroom penthouses of various configurations.

Features

Lovely river views, fountains & water bodies
Landscaped environs
Centrally air-conditioned contemporary living spaces
Exclusive amenities
Spacious & beautifully designed 25,000 sq.ft clubhouse

The natural beauty of DLF Riverside is enhanced by international landscaping by Hafeez Contractor, Singapore who have effortlessly blended the manmade features with the shimmering tapestry of blue and green! Attractively placed benches dot the river bank, allowing you to enjoy the prevailing serenity and fun!

Where is DLF Riverside?

DLF Riverside is a well-planned waterfront residential township at Vytilla, a much sought-after locality in Kochi, Kerala. It is easily accessible from National Highway; besides being close to the main city arteries & centres, DLF Riverside enjoys proximity to Info Park, Kinfra Park, Cochin Export Processing Zone and the fast developing Smart City at Kakkanad.

DLF Riverside is laid out on a 5-acre plot by the side of Chilavannoor River at Vytilla, Kochi. Its unique waterfront location allows incumbents to go on river cruises from the onsite boat jetty. This premium condominium is situated close to Kochi's prestigious schools and super specialty hospitals.

Why invest in DLF Riverside?

Kochi is home to the twin IT hubs of Info Park & Smart City, in addition to Kinfra Park andCochin Export Processing Zone. Given its rising prominence as a technological and business centre, Kochi is the 2nd most attractive destination in India to invest in Information Technology. Currently riding a real estate boom, the city is witnessing a massive demand for quality housing. As a result, the annual appreciation on exclusive properties within Kochi is at an all-time and this trend is bound to continue.

Owing to its proximity to Info Park, Smart City, Kinfra, Cochin Export Processing Zone,DLF Riverside is an attractive proposition for professionals & well-heeled businessmen. Also within easy reach are top city schools & super specialty schools.

Evidently, the apartments at DLF Riverside are bound to attract sizable returns, both as short-term & long-term investments.

Overview