Omaxe Chandni Chowk will be a milestone for city: Shri Jai Prakash,


Shri Jai Prakash, Chairperson, Standing Committee, North Delhi Municipal Corporation, has stated that the Corporation is committed to the development of Chandni Chowk, Delhi. He further said that he is committed to providing hassle-free parking, facilitating traffic jams-free roads and decongestion through removing encroachments and unauthorized parking from the roads for the benefit of pedestrians and shoppers. He also complimented Omaxe Group for doing the commendable work of the proposed parking cum commercial center and expressed satisfaction on the ongoing progress.

 “North Delhi Municipal Corporation has undertaken various initiatives for the betterment of common people. Ensuring decongestion and providing a hassle-free parking service is our priority. Today, we had a meeting with relevant stakeholders, including Omaxe, wherein all of them provided necessary inputs. Omaxe, as an organization, is committed to fulfilling our broader objectives and we believe that its project will be instrumental in uplifting and transforming the physical and social infrastructure of Chandni Chowk,” Shri Jai Prakash, Chairperson, Standing Committee, North Delhi Municipal Corporation, said.

Omaxe’s project is being constructed on 18,524 sq meters at a cost of INR 1000 crores on a public-private partnership model. The eight-level building including three basements will have parking capacity for 2265 cars and 81 tourist buses. It will immensely benefit the shop-owners of micro- markets including Chawri Bazaar, Kinari Bazaar, Khari Baoli, Nai Sadak and Dariba Kalan.

Embassy Group ranked as pan India Brand Leader in Office & Hospitality Segment

Embassy Group, India’s leading real estate developer has been recognised as Brand Leader in both the Commercial Office & Hospitality segments across India. An annual Brand Perception Audit Report by Track2Realty, an independent Research venture, conducted a comprehensive survey on the Real Estate sector in India.  This is the second consecutive year that the Embassy Group have won the top spot for the Office segment, while the ranking in the Hospitality segment has risen from 6th position to the prime spot over the past three years reflecting the growth in the Embassy Hospitality business with Hilton, Four Seasons and Le Meridien brands coming into the Embassy Group stable. The company has also been recognised as The Best Employer in the Real Estate sector while Embassy’s CSR activities were recognised as #2 on a pan India basis.

Commenting on the recognition, Mr. Jitu Virwani, Chairman and Managing Director, Embassy Group said, “We are delighted to being recognised with top honours in this recent study. Our consistent focus on the customer, our future first innovations and adherence to the legal compliances have not only won us the trust of our esteemed customers, but it has reinforced our position as one of the top Indian real estate brands. We are especially pleased to be selected as Brand Leader in the Office Space Segment across India for two consecutive years and this recognition is the perfect reflection of our commitment to redefining the commercial real estate sector in the country.”

“We are also happy to see that our work in the CSR sphere has been recognised. We have a particular focus on education in the community, actively supporting 17 Government schools with some 7000+ pupils as well as facilitating and supporting connections between our 200 Corporate Occupiers with the community for the good of the cities in which we operate” added Mr Virwani.

According to Mr. Mike Holland, CEO – Embassy Office Parks, “At Embassy Office Parks, we strive to offer an international quality workspace experiences to all the 200 international corporate occupiers and over 2 lakh employees who work across our commercial parks. Our vision is to transform the way corporate India works and this recognition for the second time in a row, is a testament to our efforts. We would also like to thank and express our gratitude all customers and corporate occupiers who have been an invaluable part of this rewarding journey.

Mr. Sartaj Singh, President, Embassy Hospitality said, “We are delighted to see the rise in Embassy Hospitality rankings to the No.1 position in this national brand perception study.  It vindicates Embassy Group’s strategic focus for a 10X growth in this vertical to deliver 2000 keys by 2021.  In the immediate future, we are hugely excited about launching our landmark Four Seasons Hotel & Private Residences Bengaluru”.

The results were based on independent brand research and market intelligence and conclusively attested that the Embassy Group along with other leading realty brands have adapted to regulatory compliances and changing market dynamics. This resilience can be primarily attributed to the brand’s professionalism and adherence to compliances that has defined its leadership status.

KONE to equip Lodha The Park residential towers in Mumbai

Lodha The Park, Worli, Mumbai.jpg

KONE Elevator & Escalator company will install 57 elevators at Lodha The Park, a premium high-rise residential tower development in Worli, downtown Mumbai. The four residential towers of the development covered by the deal will rise to heights of some 270 meters to offer amazing views of India’s most populous city and the nearby sea.

KONE will equip Lodha The Park residential towers with 48 KONE MiniSpace™ high-rise elevators and 9 machine-room-less KONE MonoSpace® elevators. The KONE MiniSpace™ elevators will travel at speeds of 5 to 6 meters per second. About 3,400 people are expected to use the equipment on a daily basis.

“This is a unique landmark development, and we are proud that our People Flow™solutions will enable residents and visitors to move smoothly, efficiently and safely in and around these towers,” said Axel Berkling, Executive Vice President, KONE Asia Pacific.

Mr Amit Gossain, Managing Director, KONE India further said“KONE is a premier player in the residential segment in India and we are honoured to be a preferred partner for this prestigious project, further validating our commitment and technological expertise in the sector.”

The order also includes the KONE destination control system, which optimizes the elevator performance to minimize waiting times and maximize convenience for building users. Residents will also benefit from the KONE Remote Call™ smartphone application for ordering an elevator. KONE Access, in turn, will integrate the buildings’ doors seamlessly with the elevator system for secure and efficient access management.

Lodha The Park is the largest high-rise residential development in India, and the site comprises an extensive range of comforts. These include an outdoor cinema, game courts, children’s play area, rock climbing wall, cricket ground, fruit orchard, vegetable garden, and a number of swimming pools. The buildings are expected to be completed by September 2019. The main developer is Lodha Developers Pvt. Ltd. The buildings were designed by WOHA Architects Singapore.

NAREDCO welcomes the formation of Gurugram Metropolitan Development Authority

   National real Estate Development Council (NAREDCO), the real estate industry body welcomes the formation of Gurugram Metropolitan Development Authority (GMDA) and forsees the development as pro-consumer expecting that the move will boost the real estate market and will be a key factor in easing of the functioning of the sector in the city

  • NAREDCO expects that the various approving authorities should also be placed under one roof in Gurugram for smooth functioning

New Delhi: A key initiative of the National Real Estate Development Council (NAREDCO) to establish the Gurugram Metropolitan Development Authority (GMDA) has become a reality with the Haryana Cabinet clearing the Gurugram Metropolitan Development Authority Bill 2017. The National Real estate industry body welcomes the move of the state government and extends its full support in furthering the implementation and working towards the smooth functioning of the Authority.


GMDA coming into action shall look into the wholisitic development of the city’s infrastructure and the socio-economic development of Gurugram. It shall work towards the overall growth and development and will pave the way for a cleaner city, with smart transportation and mobility solutions.


Welcoming the move, President NAREDCO Mr. Parveen Jain said, “We congratulate Honourable Chief Minister, Shri Manohar Lal Khattar on clearing the Bill. His appointment as the chairman of the new authority shall be the real game changer for the millennium city. The formation of authority will not just boost the city’s growth and development but will also generate more employment opportunities. In addition to these, the formation of the authority will have a direct impact on the infrastructure development of the city.”


Mr. Jain pointed out that ‘The real issue which needs to be tackled for the fast delivery of projects without unnecessary delays and in which GMDA can play the key role, is to adopt a system wherein all the approving authorities can be brought under the same roof or under GMDA itself in Gurugram. Presently, the developer has to run to different authorities in different places with different time frames for various clearances and approvals of the same project.


The project being the same, one important aspect is that initially if one approval is given and there is delay in giving subsequent approvals, the time-frame of the initial approval also expires and it has to be freshly applied for. Another aspect is that the various clearances and approvals are inter-related and inter-dependent, so even if one gets delayed, it can start a chain reaction and the project can get delayed unnecessarily. Hence we need to look into these problems in detail and NAREDCO insists that GMDA should be the ultimate single authority giving approvals and clearances under one roof in Gurugram’.

RIPL to organize seminar on Building Information Modelling (BIM) and launch of ARCHICAD

Indian real estate and infrastructure industry is in advancement stage where an effective implementation of technology can make the industry more systematic, transparent, progressive, and canenable on timely completion of the projects. To hone ACE Industry professionals’ skills, Rudrabhishek InfosystemPvt Ltd (RIPL) is coming up with a conference on Building Information Modeling (BIM) and also re-launching ARCHICAD in Indian market. The event will be jointly organized by RIPL andGraphisoft Budapest, Hungry whichwill take place at The Habitat Centre, New Delhi on 22nd November 2016.



This conference aims to bring together the government officials, educationalists and BIM Industry experts around the region to present and discuss on the latest development in BIM Technology and its dynamicimpact on Designing Architectural Engineering and Construction Industry.It will provide an opportunity to all delegates, professionals, studentsand young investigators to attend and learn new practices.


Ms Soumya Das, Director, RIPL said “RIPL and Graphisoft have Collaborated on multiple fronts. This strategic partnership would be a highly effective way to build business, boost brand awareness and break into new markets. With this new ARCHICAD we will bring innovation in the entire ACE industry. We will  primarily work in the North and East Region catering to different target groups in the Construction Fraternity and will enhance the usage of Archicad BIM to different parts of the country”.


The event will be inaugurated by the Chief Guest Shri S C Gaur, CAP Agra Development Authority (Ex CAP Noida Development Authority), Highlighting and encouraging the adoption and implementation of BIM TECHNOLOGY IN THE CONSTRUCTION Industry along with Ms Soumya Das (Director RIPL), Mr Laszlo Toke (International Sales, Graphisoft) along with Guests of Honour- S M Akhtar (Dean, JamiaMilia), Mr. Manoj Mathur (HOD ARCHITECTURE SPA, New Delhi ), Col N Krishna Rao (Director Projects , VNC).


Some of the prominent guests who will attend the event include dignitaries and keynote speakers like acclaimed Educationalist Dr. V K Paul (HOD BE & M, SPA New Delhi) , Ramesh Sharma BIM Expert, MsRuchi Misra ( Architect) , S N Tripathi ( Services Expert), Sandeep Sharma (PMC Expert),  and many more

renowned  personalities across the Region. We have prominent guests like Mr Pradeep Misra (CMD REPL Group) and Mr P N Misra (Retd VC GDA,ADA,LDA) amongst us. We also have MsEnikoPauko from Graphisoft, Hungary as implementation



RIPL will have the marketing and distribution rights of Archicadfor Northern, Eastern and N-E India, viz., Uttar Pradesh, Punjab, Haryana, Himachal Pradesh, Jammu Kashmir, Uttarakhand, Bihar, Odisha, West Bengal, Jharkhand, Chhatisgarh, Union Territories of Chandigarh, National Capital Territory of Delhi and NE states.

Real estate sentiments sluggish this Diwali

Buried under high debt and inability of the developers to complete and hand over the pending projects well beyond the commitments to the hard-pressed consumers, the troubled housing sector is not witnessing any festive activity this year despite the latest cut in the policy interest rate by the Reserve Bank of India (RBI), an ASSOCHAM survey has said.

Based on the data and information collected from 250 builders in the Delhi-NCR, Mumbai, Bengaluru, Chennai,  Kolkata, Ahmedabad, Hyderabad, Pune, Chandigarh and Dehradun, the survey found that the demand for new projects is hard to come while new launches have come to a trickle, marked by lack of consumer confidence and cash deficit of the builders.

Under such a scenario, the demand for new launches, if at all there are, has come down by over 50-60 per cent in Delhi-NCR and Mumbai while it is lesser by about 40-45 per cent in Hyderabad and Chennai. In Bengaluru, the activity has come to a total standstill, first by the demolition drive and then by Cauvery dispute agitation, adds the recent survey.

“Whatever market is there, it is mainly for the end-users and not for investors, sale has been increased for the smaller units (2 BHK & 3 BHK)”, reveals the survey.

“Customers are preferably looking for ready to move in property rather than going for under construction property. But not many properties fall in this category”, adds the Secretary General Mr. D S Rawat.

The resale or secondary market is also dull this festival season, marked by drop of at least 20-25 in prices this festive season. There is very little resale happening especially in the NCR and surrounding areas. Supply is in excess with private small time builders in the unorganised sector flooding the market with units.

The unsold inventory pressure in NCR region is the highest among all other cities. The NCR residential market still has an estimated 1,70,000 units of unsold inventory which is approximately 30% of the units under construction, adds the survey. As per the survey, there are nearly 8-10 million workers engaged in building and other construction activities who face uncertain future if the sector does not revive.

The ticket price 3-bedroom, 2 BHK and single room flats has seen correction by 30% in Noida, 25% in Gurgaon and 15% in some key areas of Delhi, yet the demand stays subdued

All approvals of real estate projects must be accorded in a time bound, accountable and simplifies manner, the ASSOCHAM said suggesting that the process and status of all approvals be made on line so as to bring transparency.

The property analysts have predicted that till March next year the demand for plots, houses and flats may drop by at least 15 to 20%. The housing inventory in the NCR area is huge as a large number of projects are coming up in the peripheral areas, said Mr Rawat.

ASSOCHAM Appoints Prateek Mittal as the new Chairman of Real Estate & Infrastructure Committee


ASSOCHAM recently announced the appointment of Prateek Mittal, Executive Director of SUSHMA Group, as the first Chairman of Real Estate & Infrastructure Regional Committee. He holds a B.Tech. degree from IIT Bombay, and strongly believes in innovation and customer service being at the core of growth for any industry.

Prateek Mittal called on real estate industry boards “to continuously strive towards building a better tomorrow through better construction technologies and improved designs”. On taking over as the Chairman of the Regional Committee of Real Estate and Infrastructure, Prateek Mittal said, “The Committee would work closely with the State Governments to streamline the implementation of RERA so that issues of all the stakeholders can be resolved in a structured manner.”

“A lot has changed in the sector in the last few years. Clear focus on better product standards, improved team capabilities, and higher understanding of the customer needs has started to change the face of the Real Estate Industry”, said Prateek Mittal.

With ASSOCHAM opening its Northern chapter in Chandigarh, a sector-wise committee has been devised to initiate and encourage collaborative thought process, explore new trends, opportunities & challenges in entrepreneurship and youth empowerment. These committees will work towards creating the required environment for sectors such as Agriculture & Agri-Business, Food Processing, Education & Skill Development, MSME, Health & Pharma, IT & ITES, Infrastructure/ Real Estate, Innovation & IPRs, Banking & Financial Services and Insurance.