Noida, Greater Noida And New Gurgaon To Herald A Realty Revival

A voluminous spree of project deliveries from developers across Delhi-NCR will boost the confidence in prospective buyers which will help the property market regain its momentum

At a time when current market sentiment and consumer confidence is at a low, the residential real estate of NCR will be on a project delivery spree in the coming few months. The delivery of projects will surely help developers retain customer trust and confidence in these times. Developers in this part of the world are in one of the most favourable development markets not only in India but also worldwide. At the same time, consumers today are discerning, thereby raising the bar in quality and timely deliveries.

Despite the favourable parameters, the real estate market in Delhi-NCR has witnessed an upheaval owing to numerous issues like the agitation against land acquisition and the subsequent court cases, increment in the rate of interest, inflation in the cost of raw materials, etc. If more developers see the value of standardized systems and planned corporatisation and the government also lends the required support, the real estate industry will see unprecedented and sustainable growth, much to the advantage of both investors and consumers.

VIKAS GUPTA, JMD, Earth Group is also of the view that timely delivery is one of the key issues that have been discussed widely on the Indian realty front. There have been instances when builders failed to provide possession on stipulated time frame or period. “Whatever the reasons there may be, but from the customer’s point of view we can never justify the delay in possession,” says Gupta.

Earth Group: Pioneering the Growth of Green Building

Since 1970, Earth Day has been celebrated every year on the 22^nd of April. It was envisaged to promote the idea of ecology, to encourage respect for life on Earth, and highlight growing concerns about different kinds of pollution. To protect the planet Earth from any further degradation, people around the world have come together and decided to mark it as a ‘sacred’ day in the calendar. First as concerned citizens and then as passionate and environment- friendly developers, a group of four people formed Earth Infrastructures Ltd on this special day on April 22, 2010. They decided to construct green buildings where one can have feel of a “sacred place” instead of only four-walled structure made of bricks and cement.

Since its inception, the Group is strictly adopting innovative construction technologies. Slowly but steadily, the sapling of Earth Infra planted four year back started showing like a full grown tree with a tremendous growth, paying dividends to each and everyone who have been associated with it. The stupendous growth that it achieved within a short span of four years has catapulted it as a household name. In the same period, it could successfully establish is as a group of companies catering to varied interests of customers. Buoyed by people’s trust, the Group started scripting glorious chapter in fulfilling their dreams of living in fresh air and conductive atmosphere, Leaving its peer group far behind.

Greener Living

A famous philosopher Toni Sorenson says,”A Journey through nature is always a road that leads to self-discovered.” Toni’s statement seems especially true when we talk for our residents in the lap of nature, we can’t lead to innovation driven society, a society where every person has greater sense of responsibilities is caring towards nature as well as his or her life. This fact was in the mind of the creators of the Earth Group when they seeded a real estate company with the commitment of deriving Greener spaces to the citizens so that they prosper and excel in a natural way and may become innovative persons to further lead the planet. In order to promote the innovativeness among the individuals through their offerings of green living in society, the creators of the Earth Group found their motto statement, i.e. ‘Innovation beyond Imagination’.

Not only that, with their objectives, the creators of the Earth Group also found the name of their venture as the Earth Infrastructures Ltd and founded it on the very day of the Earth Group. So, the objectives were clear and path was defined.

Now when the four years are completing, the creators find their journey very remarkable ones..They have set the benchmark in the Indian real estate sector and the Greener Living is the buzzword now. Every reality consumer is seeking his or her desired places in proximity to the nature. They want natural way of living and their assembled with the non-artificial panorama and equipments.

Tremendous Growth

With the completion of fourth eventful year of corporate presence, Earth Group is now at forefront of the fastest emerging jey players in the Indian real estate landscape with 12 running projects in Delhi-NCR and Lucknow, the legendary vibrant capital city of Uttarpradesh. With around five dozen offices run by around 3000 skilled staff, the group has achieved a distinction of offering hassle-free services to around 15000 customer s and number in each category is growing rapidly giving a push to expanding plan, in coming years. It is planning to launch several state-of-art-projects ar Pan India level. The Group is planning to launch residential projects in Pan India including Dharuhera, Neemrana, Faridabad and Ludhiana.

Dynamic Leadership

The Group is set to be the most innovative and trusted brand in real estate industry by adopting new technologies with a focus on green and eco-friendly construction to fulfill the expectations of the customers. This is not possible without dynamic leadership.

“No doubt we are encouraging urbanization. But we are doing it with certain previous commitments to care for earth. We know earth is our “Mother” and we cannot play with its “sanctity” at all. We, the human’s beings will love our presence if we lose our Mother. Therefore, environment concerns are on our priority from the time of conceptualizing to completion of the projects,” said Mr. Vikas Gupta, JMD Earth Group of companies.

“We wish to state that we never stop thinking for the future. We keep on planning for the future projects besides working for in time completion of the ongoing projects. As such, we do have never things stated for the next year! We hope to have next year more projects at different locations across the country. We wish to adhere to our commitments at the time of firmly establishing ourselves and known as further more innovative brand in the real estate sector in India in the years to come.” said Mr. Avdesh Goyal, JMD.

Rising Entrepreneurship Leads To Higher Absorption Of Office Spaces

Vikas Gupta, JMD, Earth Infrastructure shares that the rising entrepreneurship has propelled a higher absorption for office space in India.

The rising entrepreneurship has led to a surge in the number of business entities, especially in the small and medium sized companies. According to The Global Entrepreneurship Monitor (GEM) Survey 2013, 61 per cent of people in India agree with the fact that entrepreneurship is a better career choice. In the current times, many start-up companies are led by younger generation.

Also, the new age professionals find their contentment in owning a business rather than getting hired by them. Such aspirations open opportunities not just for themselves, but the other sectors as well.

Increase in demand for office space is one direct impact which is visible with the rising phenomenon of entrepreneurship. In the top seven cities, demand of the office spaces surged to the 35 percent during the last fiscal. It stood at 8.2 million sq ft in comparison to 6 million sq ft in the previous quarter, as per the estimates of commercial property consultancy CBRE.

The surge in the demand for office space also grew with the rising phenomenon of the special economic zones (SEZs) where business units get multiple advantages, from infrastructure to the common facilities, industry oriented local policies to rebates or tax holidays or export promotion activities. Such initiatives don’t just lead to forming a good business environment but also provide opportunities to the related sectors like real estate which is currently reeling under pressures of an uncertain political environment, economic slowdown and high prices.

The said report also reveals an interesting trend of a rise in demand for office spaces from the SME segment, which normally has very specific requirements. SMEs usually need to utilize the maximum spaces in their office premises. Office or working zones must be energy efficient to reduce their cost of operation and maximize their return on investment.

Earth Infrastructures Ltd has also been a part of this trend with its office space segments like Earth Sapphire Court, Earth Alpha Tech, Earth Beta Tech, Earth Gamma Tech, Earth Express One, Earth Iconic etc. These commercial projects cater to the needs of the business community for commercial as well as retail zones.

Realty Plus Interview along with Mr. Vikas Gupta JMD Earth Infrastructures Ltd

 ‘“We Promote Green, Sustainable Realty”’ 

Delhi-NCR-based real estate firm Earth Infrastructures Ltd, which bagged the best debutant award in 2010, has grown to become a major entity involved in multiple business activities — real estate construction, planning, marketing, strategy implementation and green innovations. With a slew of successful projects under development like Earth Towne and Earth Copia in Greater Noida and Gurgaon, respectively, the company plans to invest Rs750 crore on immediate expansion. As the company gears to launch 5-star properties in Rajasthan and Haryana shortly, it is also expecting to tap the stock market in 2014 to further strengthen its pan-India expansion agenda. 

Unlike some other real estate companies, Earth Infrastructures Ltd supports the government’s move to bring in a real estate regulator which it claims would immensely benefit consumers by bringing transparency in property transactions. Vikas Gupta (JMD), Earth Group, articulated the company’s stance on this and many other pertinent issues confronting the real estate sector, in a free-wheeling tete-a-tete with Vishnu Rageev R of Realty Plus. Excerpts...

Vishnu Rajeev R: Could you take us briefly through the company’s journey since its inception? What, according to you, have been the company’s notable achievements during this period? How much has the company grown in terms of the developed area, and sales turnover? 

Vikas Gupta: In the year 2010, Earth Infrastructures Ltd started off its journey with its flagship project christened Earth Towne, a mass housing project. In this short span, the company has managed to construct about 6,000 flats for medium income bracket people across 19 acres land in Greater Noida. Here, the land was acquired by Greater Noida Development Authority. The company began operations with this mega project valued at Rs75 crore which spread its popularity pan-India. One of the notable achievements is that the company has sold more than 70 per cent of inventory within 100 days of the launch of the project. Even industry experts touted it as a mega success in real estate sector in the recent times. The major reason for the success was because of our marketing strategy. The project was marketed not only in Delhi-NCR but also in tier I and tier II cities pan-India. Encouraged by the success of this project, the company launched its first commercial project Earth Sapphire Court in Greater Noida and then another mega housing project with the name of Earth Copia in Gurgaon in the year 2011. Within the first 18 months since its inception, the company is presently developing over seven million sq ft of residential and commercial real estate. 

Vishnu Rajeev R: What are the current initiatives and immediate plans of Earth Infra across residential real estate segment? Share details of your existing projects with pricing, features and other specifications. 

Vikas Gupta: The company, which is strictly following the concept of developing green sustainable buildings has launched LEED certified green projects alone. The company is planning to launch a residential project in Noida and another residential project in Gurgaon in the next 3-4 months. Presently, we have two important projects which are under development¬¬ — Earth Towne and Earth Copia — located in Greater Noida and Gurgaon, respectively. 

Located at Plot No. 4, Sector 1, Greater Noida, our first project Earth Towne has been completely sold out and has about 1,800 investors in it. This LEED certified green project offers 1, 2, 3 and 4 BHK apartments. It features a wide spread area of 19 acres lush green landscapes, water bodies and beautiful boulevards, dry balcony, 70 per cent wide open green area, etc. The project will have amenities like gymnasium, club house, swimming pool, gazebo, paver block roads, tennis court, barbeque, caring zone with nursing homes and the like. It is priced at Rs2,650 per sq ft. Earth Copia is a residential project located at Dwarka Expressway at Sector 112, Gurgaon. The project offers 2, 3 and 4 BHK apartments. Each apartment boasts of adequate living space for the whole family as well as a corner for an individual pursuit. It is a prestigious residential project in Delhi’s neighbourhood with 70 per cent greenery to maintain harmony with nature. It is equipped with all modern life facilities like 100 per cent power backup with latest security features and also includes ultra modern club and a world-class gymnasium. It is priced at Rs4,000 per sq ft. VRR: What would be the quantum of investment for your upcoming projects? How do you intend to raise the money for expansion? Do you plan to come up with an IPO in the near-to-medium run? VG: We have big expansion plans in the pipeline. We are planning to invest more than Rs750 crore in next six months for our expansion and constructions across existing sites. We are planning to raise the required money from internal accruals and advance from our investors and prospective buyers. We are also approaching domestic financial institutions for raising fund through loans. You can expect an IPO from Earth Infrastructure in the year 2014 depending upon the share market climate. 

Vishnu Rajeev R: Who are the key persons driving the group? 

Vikas Gupta: Avdhesh Goel is an avid learner. He has worked tirelessly to put Earth Infrastructure Ltd on the map of Indian realty sector, turning opportunities into successes. His outlook has helped him in shouldering many additional responsibilities alongside his professional calling. He has brought radical changes in business strategies, professionalised the entire group and has redefined the internal system. Instrumental in acquiring many proprieties in the NCR, he has also been involved in partnership with prestigious and leading infrastructure companies. 

Atul Gupta is a symbol of drive and performance. An expert in numerous management methods, he influences the internal and external dynamics of the organisation, synergising them with success. Principled, yet open to fresh thought and ideas, he has always used emerging practices and business models for rapid growth. He is also the founder of Uttkarsh, an NGO that works for the aged and the special- abled. 

Rajnish Mittal an expert in impression management, has worked wonders for the company’s public image. His pioneering strides towards relationship endeavours, such as corporate assets and legitimising long term competitive advantages, have helped in getting the company maximal social recognition. 

Myself, has been entrusted with fulfilling the expectations of the customers as well as manage to build a unique corporate identity for the organisation. I have also made various contributions to many American and European counterparts. As an entrepreneur and planner, I have tried to create multiple choices for the customers in the realty sector and institutional segment. 

Vishnu Rajeev R: Any plans to foray into other areas of real estate developments like commercial, retail, hospitality and the like? 

Vikas Gupta: We are already developing commercial and retail real estate projects. The company is all set to launch five-star hotels in Neemrana in Rajasthan and Manesar in Haryana. 

Vishnu Rajeev R: How conducive is the current market for value/affordable homes in Delhi-NCR region? Have you ventured into the segment? 

Vikas Gupta: We have a project in Noida Extension which is in the affordable housing segment. There is huge scope for such projects in the whole Delhi-NCR but developers alone cannot take the entire initiative. The government should come forward to sell the land to developers at cheaper rates to allow them to come up with such projects to cater the need of masses. 

Vishnu Rajeev R: How do you visualise your company vis-a-vis your competitors? What are your core strengths in real estate business? 

Vikas Gupta: Our company believes in innovation and follows the philosophy of “Innovation Beyond Imagination” while planning our projects to cater to the needs and demands of our clients. We are into green buildings which itself give us an extra edge over our competitors. We will keep these two aspects on priority while planning and executing our projects as we believe in delivering the best to our investors. We believe in high-end client servicing and being into green housing, we offer them a caring and eco-friendly environment to live in. 

Vishnu Rajeev R: As Noida stalemate continues, what is your assessment of the current real estate scenario in Delhi-NCR? How do you expect this market to behave in the next one year? 

Vikas Gupta: The issue of Noida and Noida extension has almost been resolved due to the active intervention of Greater Noida Industrial Development Authority. They have settled the cases of 60-70 per cent farmers. And we hope for a positive judgement from the honourable High Court. The real estate market in Delhi-NCR is going to witness moderate to high growth in this coming years. 

Vishnu Rajeev R: Are you in favour of a real estate regulator? What are the prospects and challenges before Indian realty sector? 

Vikas Gupta: Yes, we strongly feel that there should be a regulatory body for the real estate industry. This would make the sector more organised and prompt in its dealings with all the associated parties. The Noida Extension issue also highlights the need for the regulatory body for real estate industry. This would also benefit investors and other parties involved. Although there are many challenges, Indian real estate sector will only prosper in the coming years. 

Vishnu Rajeev R: What are your major promotional drives? Which media vehicle or promotion mode do you consider most suitable for crating brand awareness? 

Vikas Gupta: I feel that print and electronic media are the suitable mediums for the brand awareness as they reach the masses. Besides, the editorials and press releases play an important role in positioning the brand as they come from an authenticated and responsible source of the society. 

Vishnu Rajeev R: Anything else you would like to share with our readers? 

Vikas Gupta: I want to highlight the importance and requirement of Green Buildings here. Today global warming is a matter of grave concern and I would like to say to your readers that they should go for the green building projects as it would give them a healthy and eco-friendly environment and would decrease the CO2 levels, apart from providing them savings on electricity and water consumption.

The New Land Acquisition Bill Poses Fresh Challenges

Vikas Gupta, JMD, Earth Infrastructures Ltd explains how the New Land Acquisition Bill is posing fresh challenges for the industry coupled with some positive changes expected.

The government implemented the new land acquisition regulations from the beginning of 2014. Since the proposal, the new land acquisition norms have been points of several discussions on various platforms, especially among the realty players. The new regulation, which replaces the Land Acquisition Act, 1894 and are supposed to clear the doubt of haphazard acquisition, seem to pose new challenges along with some positive expectations.

The new regulations mount more pressure on the Indian realty sector as it is friendlier with the land sellers. As per the regulations, the land sellers will be provided higher compensation for their land.

An alternate focus that has been consolidated into the bill is that the area might gain from the public private partnerships, government and private purposes. For any venture under PPP for private reason, the state needs to check the social and additionally natural effects of the proposed task. These checks are keeping tabs to guarantee that the end sellers are not influenced gravely at any rate.

Moreover, any private player purchasing the area must get the consent of the eighty percent of the families whose lands are being acquired. On the other hand, in cases of PPP, this cutoff is 70 percent.

Throughout all these methods of evaluations and getting assent from the sellers, so as to secure area for PPP and private ventures, the purchaser needs to guarantee the state government's support of installment made to dealers and compliance's.

New regulations itself portray the payment structure that is obliged to be provided for the affected family, which fuses workers and ranch workers, occupants, inhabitants and masters in the zone for three prior years. The compensation could be Rs 5 lakh or a job. Also, a stipend of Rs 3,000 for every month is required to be given for one year and a whole of Rs 1.25 lakh must be provided for every crew.

An alternate procurement of the Bill states that if the remuneration is not provided for the negligible vendors’ work, the methodology might be started at the end of the day.

New regulations, likewise, permit the land purchasers to get the land on lease as opposed to purchasing it; this choice will be of the minor merchants and the concerned states.

Right away, it is clear that such a wild, late and difficult procuring methodology is set to shoot up undertaking expenses ordinarily. Assuming that a builder needs to purchase an area, it needs to begin the procuring process 3-4 years earlier. The next obstacle is the evaluation of environmental and social affects. Most importantly, burdensome relief for sellers will make the project costlier.

EARTH GROUP’S PROJECTS IN GURGAON

EARTH COPIA - Residential Project.

This Super Luxury project is equipped with all modern living facilities like 100% power backup with latest security

features and also includes ultra modern club and a world class gymnasium. Facilities like 24-hour, water supply & power backup, adequate basement, covered car parking & surface parking, landscape courts with sit out spaces. kids play area & tennis court, pedestrian paths, jogging trail with several trellises enhancing outdoor landscape, modular type switches & sockets & copper wiring, among many other astonishing facilities and locations at its best, makes this project an asset for Gurgaon.

Surrounded by green belt and located on Dwarka Expressway makes it even more attractive for the investors.

EARTH ICONIC - Commercial Project Location that’s the key word for any real estate project especially when it’s a commercial development is what makes Earth Infrastructures Ltd projects get their distinct identity. Earth Iconic is located on proposed Golf Course Extension Road in close proximity to the major commercial and residential development area of Gurgaon. EARTH ICONIC is the right mix of Retail Stores, Office Spaces & Studio Apartments, and Integrated mixed use development providing a very good catchment from within and outside developments.

Special attention has been given to design a detailed unique concept where exterior complements the interior courtyard. Retail USP of the Iconic is that one will find all International & Reputed Indian Brands on the Ground floor, All Regional & Domestic Brands on 1st, World Class Food Court on 2nd floor, proposed Leading Anchor Stores, and International & Indian Cuisines on Each floor.

ELACASA - A Project of Earth

Buildprop Pvt. Ltd, Residential Project Earth Buildprop Pvt. Ltd. launched the prestigious residential project Elacasa. This project in Gurgaon will be a residential project comprising 2/3/4 BHK Luxury Apartments and positioned on Dwarka Expressway in such a way that it is closest to Delhi. Elacasa is equipped with endless high-end luxurious facilities with location advantages making it at par with the others in the market.

With these projects and we are sure many others to come in future. Earth Infrastructure Ltd would continue to enhance the glamour factor of Gurgaon, overcoming the drawbacks of the city too.

Property carnivals should be active in the real estate sector

Vikas Gupta, JMD, Earth Infrastructures Ltd explains why property carnivals can be a boon for the real estate sector. Read on to know more…

The slowdown in the real estate sector has propelled developers to try new strategies to attract buyers. A concrete step in this direction is to arrange real estate carnivals at various cities across the country. Holding property carnivals is not a new idea. There are organizations like Confederation of Real Estate Developers Associations of India (CREDAI) conducting carnivals.

If this process is transformed into a movement, it will help in intensifying the process. Developers get a common chance and place to exhibit their projects, interact with prospective buyers and generate business deals at such events.

The property carnivals prove beneficial not only for developers as they surely churn business but also prove useful for buyers and investors too. They get a golden chance to visit stalls of every developer and ask for details and brochures. It gives them an opportunity to physically interact either with company officials or developers’ themselves, which otherwise seems impossible for them to do. The most significant thing is that local buyers and investors get a chance to have the officials at their doorstep if the deal materializes.

However, a property carnival is said to be successful only if the turnout of buyers and investors is in significant numbers. Otherwise, the whole exercise will prove futile. Such events must be held at spacious venues and also within the “heart” of the city. These events are held for two or three days.

Therefore, venue of such events should be held inside the premises. It has been observed that such events go waste if these are held in the outskirts of the cities and also in the open due to sudden rough weather. For instance, a property carnival held in the outskirts of the Ludhiana city did not prove successful.

Various organizations and real estate companies have to take an initiative to make a “movement” for holding property carnivals across the country. These carnivals should be planned in such a manner that these should not put much economic burden on developers. Rather, the organizers should run this “movement” on the basis of “no profit no loss” for cause of the entire real estate sector. If it happens, realtors, buyers and even investors will surely find tremendous change in the overall scenario in real estate sector. Of course, the initiative will give a boost in real estate sector.