Saturday, February 4, 2017
Real Estate (Regulation and Development) Act, 2016 and the in-built Regulatory structure (RERA) is going to affect almost every part of a real estate organization’s operation. Irrespective of the size or the portfolio, every real estate organization (development or consulting) in India is now going to be guided by RERA provisions including enforcement actions, fines and the invisible reputational risk.
Complying with RERA provisions requires greater level of transparency, objectivity and professionalism, as it has enhanced the accountability and liability of real estate developers, property consultants etc.
Therefore it is essential for real estate organizations to put in place a structured RERA compliance management process. Developers need to streamline their processes, form teams and train employees on the new regulatory provisions. However in the absence of proper awareness and training, RERA compliance may become a critical business challenge.
It is with the above background information, , is organizing a one-day training program on RERA Compliance. NIREM is India’s leading real estate focused education and training organization and is a specialist in training and development of employees of real estate and allied sector organizations.
The one-day RERA Compliance Training program is targeted at middle to senior level real estate professionals.
To know more about the training program, please visit or mail your request to clearly mentioning your name, designation, company name, contact number and mail id.
New Delhi, URL: www.nirem.org
Ph: +91.11.42484988 M: +91.782-788-4220
Saturday, January 30, 2016
Union Urban Development Minister Honb’le Mr. Venkaiah Naidu announced the first list of 20 smart cities at a press conference on Thursday in Delhi.
The cities were chosen on the basis of feasibility, smartness of proposal, performance indicators among others and awarded marks out of 100. The Minister said, ‘Today marks a historic landmark in annals of urban development as we get to know the first batch of 'Smart Cities'.
Referring to the investment opportunities in the backdrop of the recent financial crisis, he said, “People are searching for safe investments. I offer smart cities as the safest investment because land is going to be there, structures are going to be there, so the returns are assured.”
The first 20 smart cities are: Bhubaneshwar, Pune, Jaipur, Surat, Kochi, NDMC (New Delhi), Ahmedabad, Jabalpur, Vizag, Solapur, Devangere, Indore, Coimbatore, Kakinada, Belgaum, Udaipur, Guwahati, Chennai, Ludhiana and Bhopal.
Here are key facts about these Smart Cities that you should know:
Population (20 cities): 3.54 crore
Central Funding: Rs. 48,000 crore to the Smart City Mission over five years. This comes to on an average Rs. 100 crore per city per year.
State/ULBs Funding: An amount equal to the Central Funding, on a matching basis, will have to be contributed by the State/ULB
Total: Therefore approx Rs. One Lakh Crore of Government/ULB funds will be available for Smart Cities development.
Basic infrastructure/services to be provided:
- Assured water and power supply
- Solid Waste Management
- Efficient Urban Mobility and Public Transport
- IT connectivity
- e-Governance and citizen participation
First Year and Subsequent Funding: In the first year, Government proposes to give Rs.200 crore to each selected Smart City to create a higher initial corpus. After deducting the Rs. two crore advance (for preparation of Smart City Proposal -SCP)and Admin and Other Expenses share of the MoUD, each selected Smart City will be given Rs. 194 crore out of Rs. 200 crore in the first year followed by Rs. 98 crore out of Rs. 100 crore every year for the next three years
Role of States and Urban local Bodies (ULBs): Key support role envisioned for States and Urban local Bodies (ULBs). It is mentioned that smart leadership and vision at this level and ability to act decisively will be important factors determining the success of the Mission.
Special Purpose Vehicle (SPV): The mission will be implemented at City Level by a Special Purpose Vehicle (SPV) created for the purpose. SPV to plan, appraise, approve, release funds, implement, manage, operate, monitor and evaluate the project.
SPV Governance: SPV to be headed by a CEO, with representation in board from Central & State Govts and ULB.
Distribution of 100 Smart Cities: The total number of 100 Smart Cities has been distributed among the States and UTs on the basis of an equitable criteria. The formula gives equal weightage (50:50) to urban population of the State/UT and the number of statutory towns in the State/UT. Based on this formula, each State/UT will, therefore, have a certain number of potential Smart Cities, with each State/ UT having at least one.
Re-allocation of Smart Cities: The distribution of Smart Cities will be reviewed after two years of the implementation of the Mission. Based on an assessment of the performance of States/ULBs in the Challenge, some re-allocation of the remaining potential Smart Cities among States may be required to be done by MoUD.
Handholding Agencies: During the preparation of the Smart Cities Mission, a number of foreign Governments have offered to provide Technical Assistance (TA) support.
Additionally, other external organizations, including bilateral and multilateral institutions, as well as domestic organizations have suggested to the Ministry of Urban Development that they can give technical assistance support. These include World Bank, ADB, JICA, USTDA, AFD, KfW, DFID, UN Habitat, UNIDO, etc.
Such organizations, which have experience in the field of Smart City development, can also extend support to the States/UTs as hand-holding agencies in preparing the SCPs. The Ministry will assist in tying up the arrangements.
(Source: Smart City Guidelines, Govt. of India)
Friday, October 9, 2015
NIREM is organizing a one-day training program on Digital Marketing of Properties for real estate sales and marketing professionals, property consultants, those planning to start their own property consulting business etc. The program aims to help you optimize your online lead generation and management efforts.
Date, Venue and Registration
The event is scheduled on Tuesday, 27th Oct. 2015 at Delhi. Program details are available HERE. Interested participants may register online from the given link.
Why this Program?
With the continued growth of digital marketing landscape in real estate, especially because of the fast acceptance of the medium by potential home buyers, real estate marketing professionals and consultants are facing enhanced competition, new challenges and unique opportunities within this digital age. For many home buyers, looking online for properties has become the first step in the home buying process.
A Google study of last year attests the fact that internet influences over 50 per cent real estate buying decisions. As per the Economic Times ‘it also revealed that online influence on realty transaction value amounted to $43 billion, including $31 billion for residential properties”.
Therefore today property sales and marketing professionals as well as property consultants must be adepts at all aspects of online marketing of properties. This training program on Digital Marketing of Properties aims at educating participants in different aspects of digital marketing with a focus on lead generation and management. To know more, please visit: http://www.nirem.org/training-program-on-digital-marketing-of-properties-2/
Wednesday, October 7, 2015
Pune: The first phase of the Delhi-Mumbai Industrial Corridor (DMIC) will lead to the creation of five new cities along its various nodes and the urban centres that will benefit through the first phase are Noida, Greater Noida, Gurgaon, Manesar, Jaipur, Ahmedabad, Indore and Aurangabad.
These are amongst the key findings of a comprehensive study on the DMIC released by Knight Frank India.
The report, which is the first in a series of studies undertaken by the company, will serve as a ready reckoner for all stakeholders and as well as those who wish to get an idea of the possible impact of the DMIC on the districts of Ahmedabad, Vadodara and Surat.
Amongst the takeaways of the report is that close to two crore jobs (direct and indirect) will be created by the seven nodes in the first phase. Assuming there are four members per household, the new cities in the first phase will house a population of nearly four crore.
Providing a snapshot on the impact on real estate by the first phase of the DMIC (figures estimated till 2040) the report says that the total residential built-up demand will be 800 crore sq ft, while the total built-up commercial demand will be 251,622,000 sq ft. The total number of hotel rooms will be 18,233.
In a statement, Shishir Baijal, Chairman & Managing Director, Knight Frank India said, “A total of 24 nodes have been planned along the entire stretch of the DMIC. Once all the phases of the project are completed, job creation along the DMIC will be unprecedented. The resultant effects of this astronomical job creation will lead to immense real estate development across verticals in and around the project areas. As these new urban agglomerations take shape, they will also attract interest from other sectors of the economy. Increased job opportunities, coupled with a superior quality of life offered by these new cities, would provide boost to the migration of businesses and people to these cities.”
Samantak Das, National Director & Chief Economist, Knight Frank India, added, “There is no denying the fact that the DMIC and other corridors will have a major impact on real estate. However, for the purpose of this study, we have restricted the focus to the impact of the DMIC along its influence area in its first phase. According to our study, there will be a rub-off effect of the implementation of DMIC initiatives on the smaller urban centres in proximity of the respective nodes and going forward, these are expected to grow at a faster rate than the present-day major urban centres.” Source: Business Line
Wednesday, September 30, 2015
Housing.com today signed an MoU with the Confederation of Real Estate Developers' Associations of India (CREDAI) to set up an online platform to help developers engage with customers in a hassle free and effective manner. The MoU will be effective for a period of three years.
"The objective of the MoU will be to improve the overall ecosystem and create a new age platform that will enable the developers to engage with the consumers in a focused manner," Housing.com said in a statement.
CREDAI is the national body of real estate developers associations from across the country. With 11500 members in 154 city chapters spread across 24 states. On the other hand Housing.com is the leading online real estate platform.
Housing.com’s Chief Business Officer Jason Kothari said, "The partnership is a testimony of changing times in the manner developers have been traditionally operating in the real estate space". He further said that the the association would redefine the way developers have been approaching the buyers across India; adding that the alliance would make the real estate community more transparent and consumer centric.
CREDAI National President Getamber Anand said the synergy with Housing.com would help in bringing an additional credibility to the real estate space by way of professional brokering and large footprint.
The MoU provides Housing.com privileges to actively participate and be represented at all events and forums of the association. On the other hand, CREDAI will leverage Housing.com's technology superiority and innovation to create online proliferation for its communities.
Housing.com has raised over USD 100 million in capital from leading investors, including Softbank.
The portal has made some major appointments recently. Rishabh Gupta was appointed as interim CEO in July, while Jason Kothari was appointed as the Chief Business Officer in August to drive the company's growth in India. PTI