THE EXPAT BUZZ August 2006 - Expat Properties · sick mill lands and so on. ... units and treats the service sector on par with the ... Navi Mumbai... the . EXPAT BUZZ August 2006

THE EXPAT BUZZ...Property News et al

August 2006Is

sue 1

.3

Bridging theeast-west dividePage 3

Mumbai Metro updatePage 4

The Navi Mumbai storyPage 10

As we predicted in our previous issue, the boom in real estate shows no signs of slowing down. But is it all a

bubble? Recently, a publication articulated this concern by asking: “How real is this realty show?” Now, adding

fuel to this melting pot is the SEZ (Special Economic Zone) factor. Our cover story gives you a holistic take on

the 'Zone effect' and the prime players, based on articles from the Times of India, Economic Times, Financial

Express, Business Standard and Businessworld. We also give you the latest on the SEZ policy front.

As you know, the growth in the sector

began with the government’s decision to

open up investment – through 100 per

cent FDI (Foreign Direct Investment),

permitting Venture Capital funds to

deploy money in real estate, selling off

sick mill lands and so on.

However, the move to set up

SEZs across the country

could be the biggest growth

trigger of them all. SEZs

could potentially transform

the structure of the real

estate industry as we now

know it.

The SEZ (Special Economic

Zone) Act, 2005, has been in

force from February 10,

2006. It aims to simplify

procedures for setting up

units and treats the service

sector on par with the

manufacturing sector. SEZs

are governed by a special set

of rules to allow easy FDI flow

for export-oriented production. SEZs are

free trade zones outside the supervision

of customs authorities. These zones have

minimum bureaucracy, premium

infrastructure, generous tax holidays and

unlimited duty free imports of raw,

intermediate and final goods as well as

capital goods.

Units under SEZs enjoy various fiscal and

non-fiscal benefits such as duty free

imports, tax breaks (exemption of

income tax, central sales tax, service tax

and excise duty on inputs), single

window clearances, etc. Naturally, these

value-adds have attracted the attention

of companies from sectors including the

information technology, pharmaceutical,

textile, petrochemical and auto ancillary

areas. Biggies that have already

announced mega plans include Reliance

Industries, Bajaj Auto, Mahindra &

Mahindra, Tata Consultancy Services,

Wipro and Ranbaxy. Reliance Industries

is reportedly investing considerable

amounts into SEZs in Navi Mumbai and

more importantly, in Gurgaon (Haryana)

which, incidentally, is expected to be the

country’s largest SEZ.

Therefore, the SEZ initiative

could be a vital catalyst for

the long term prospects of

the Indian real estate

market. A total investment of

Rs 1 lakh crore is envisaged

in SEZs over the next three

years. In addition, these

projects can potentially

create over five lakh jobs,

quite apart from the indirect

employment that will be

generated from the actual

construction of these zones.

So, we can confidently assert

that SEZs will trigger a sharp

i n c rease i n economic

activities in and around the

prospective areas. As real estate prices

are directly co-related to the economic

activity in the region, we could even

witness another boom, which, in turn,

means that properties in and around

SEZs could be potential goldmines and

promising long term investments!

meeting you at your point of need….

Expat Properties (I) Ltd. provides a comprehensive range of real estate-related services in India and the Middle East, which include…

n Retail – Purchase, sale and letting of residential properties.

n Land Trade – Handling, sale and purchase of land for customers,

with value additions such as location analysis, feasibility

reports, legal documents, etc.

n Contracting – Project management and civil infrastructure

development.

n Investment Portfolio – Counseling our clients on the real estate

investment market and guiding them in processes that

benefit them.

Dubai

P.O. Box 181681, Dubai

U.A.E. Al Mulla Building

2nd Floor, Office 207

(Opp. Sheraton Deira),

Deira – Dubai

Tel: (+ 9714) 2973932

Fax: (+ 9714) 2974345

Email: [email protected]

Mumbai

56 Hill Road, 1st Floor

Bank of India Building, Bandra (W)

Mumbai - 400 050

Tel: (+9122) 6677 1381/ 82/ 83

Fax: (+9122) 6677 1384


Pune

No. 32, Bandal Dhankhude Plaza

2nd Floor, Paud Road

Bhusari Colony, Kothrud

Pune – 411 038

Tel: (+9120) 2528 5611/

(+9120) 2528 5612/ 13

Fax: (+9180) 25285615


Bangalore

No. 406, 4th floor

House of Lords, St. Mark's Road

Bangalore – 560 001

Tel: (+9180) 41329132/ 33,

(+9180) 22109732/ 33/ 34/ 35

Fax: (+9180) 4132 9135


Goa

21/1, Alberto House

Opp. Lapaz Hotel, Swatantra Path

Vasco da Gama

Goa – 403 802

Tel: (+ 91832) 5652278/79


Chennai

No.4D, 4th Floor

Anugraha Apartment (Old No. 19)

41 Nungambakkam, High Road

Chennai – 600 034.

Tel: (+ 9144) – 4213 2923

Contact us

Cont'd on page 5

All the buzz on the

SEZ SCENE

How SEZs are adding more sizzle to the real estate market

For more information, visit our website: www.expatpropertiesgroup.com

Customer response

I am fortunate that my association

with Expat Properties introduced me

to a profitable investment. I liked the

way in which all the procedures were

handled so professionally and the

confident manner in which the entire

process was taken care of.

I was also impressed with the personal

touch seen throughout my dealings, the

manner I was guided. My needs were

always given top priority.

Kiran Moghe

Textile businessman

Mumbai

Expat has always given us very good

service and advice related to property

matters from the time we have been

associated with them, nearly

five years ago.

In fact, I recently found my dream

home through them and I have now

recommended them to others I know.

Here’s hoping they go from strength

to strength.

Malishka Mendonca

Radio Professional, Red FM 93.5

After coming into contact with Expat

Properties, our fear of real estate

investments in unknown and often,

unseen locations has been totally

eradicated. This is mainly because

of the honest and transparent manner

in which every deal has been done.

Excellent after-sales service has been

rendered every time by all the Expat

members, be it in Dubai, Bombay,

Pune, Goa or Bangalore. As I became

more and more confident of the

products and services offered by Expat,

it became almost my duty to introduce

my friends and colleagues to them.

They too are now satisfied customers

of Expat Properties.

I foresee a great future for all the

partners and patrons of Expat

Properties, and true to your mission,

you do an exceptional job in “Building

Relationships”.

Kishore Watson

Sr. Construction Supervisor

Tebodin Middle East Ltd.

Dear valued clients and associates,

We have just passed halfway through 2006. Six months and more of the booming

real estate scene in India and there is no more talk of unrealistic investment

patterns as we see mega projects being launched, long-pending infrastructural

plans being put into action and of course, the continuing global interest in the

Indian market.

Such interest brings with it the need to change from the ordinary to the

extraordinary, as expectations tend to be higher across sectors – be it in the

amenities on offer or the interiors and other specifications. We believe that such

add-ons enhance the value you get for your money. We have featured several

projects of investment value in this issue of The Expat Buzz for those wanting to

jump onto the bandwagon and gain a sound real estate investment. If you are

planning something of that nature, I urge you to get in touch with our well-

equipped Sales Team to learn more about the various options available but which

have not been featured at the time of the issue going to press.

Santosh Shetty

CEO speaks

Disclaimer

While The Expat Buzz makes every effort to ensure that everything in the newsletter is accurate and

complete, we provide it for information purposes only, so it is indicative rather than definitive. We thus

make no explicit or implicit guarantee of its accuracy, and, as far as applicable laws allow, we neither

accept responsibility for errors, inaccuracies or omissions, nor for any loss that may result directly or

indirectly from reliance on its contents. Readers of this newsletter should not take, or omit to take, any

action that relies on information. Through the newsletter, neither Expat Properties nor any other person is

providing advisory, consulting or other professional services.

B U L L E T I N B O A R D

Imagine getting from Santacruz to

Chembur in just 12 minutes, instead of

the one hour it now takes you! This is no

dream, but one of the benefits of a long-

pending project to bridge the east-west

divide in Amchi Mumbai. The modern

marvel in question is a double decker

f lyover-cum-overbridge between

Santacruz and Chembur to be built as

part of the Santacruz-Chembur Link

Road (SCLR) project.

T he Maha ra sh t ra S t a t e Road

Development Corporation (MSRDC) will

build the bridge in 18 months. It will

connect Kalina to the Amar Mahal

Junction in Chembur on one side while its

cross arm will link Nehru Nagar in Kurla to

the Lokmanya Tilak Terminus.

The Kalina-Amar Mahal Junction

overbridge (East-West) will initially be

2 | Aug 2006 | THE EXPAT BUZZ THE EXPAT BUZZ | Aug 2006| 3

Bridging the East-West dividesix-lane but later become eight-lane

because of a second-floor two-lane 1.9

km-long section between Kurla and

Chembur. In the north-south connection

linking Nehru Nagar and the Terminus,

there will be a 2.2 km elevated stretch.

SCLR, conceptualized in the 1960s,

remained on paper till last year.

Its upper deck bridge will connect the

suburbs of Santacruz and Chembur,

while the lower deck bridge will ensure

faster local connectivity. The Minister

for Public Works, Anil Deshmukh

called it integrated planning. “There

will be faster exits to the Lokmanya

Tilak Terminus. We also expect the

Terminus to attract more traffic after

its re-development,” he said.

Source: The Times of India

News of interest for our Kohinoor clients

Take off from Navi Mumbai by October 2012Navi Mumbai may have been planned as

a ‘satellite’ of Mumbai but it is now all set

to take off on its own. Plans are being

finalized for a world-class international

airport at Panvel.

The airport, slated to be Mumbai’s

second airport, will be operational by

October 2012. It will have two parallel

runways (each 3,700 meters long)

for segregated and simultaneous

operations. To reach the airport, citizens

will zip across the proposed 225 km

Sewri-Nhava Trans-harbor link or simply

hop into a hovercraft from Colaba! The

City and Industrial Development

Corporation of Maharashtra Limited

(CIDCO) and the Airports Authority

of India will prepare a detailed

project report for the plan which has

approval from the international civil

aviation body.

Naturally, plots around Kalamboli and

Panvel are being snapped up even

though land rates have gone sky high.

According to one realty consultant, prices

around the Nhava Sheva port in Panvel

are up 100 percent!

News of interest for our Panvel investors

Source: August 2006, The Times of India22

Customer response

I am fortunate that my association

with Expat Properties introduced me

to a profitable investment. I liked the

way in which all the procedures were

handled so professionally and the

confident manner in which the entire

process was taken care of.

I was also impressed with the personal

touch seen throughout my dealings, the

manner I was guided. My needs were

always given top priority.

Kiran Moghe

Textile businessman

Mumbai

Expat has always given us very good

service and advice related to property

matters from the time we have been

associated with them, nearly

five years ago.

In fact, I recently found my dream

home through them and I have now

recommended them to others I know.

Here’s hoping they go from strength

to strength.

Malishka Mendonca

Radio Professional, Red FM 93.5

After coming into contact with Expat

Properties, our fear of real estate

investments in unknown and often,

unseen locations has been totally

eradicated. This is mainly because

of the honest and transparent manner

in which every deal has been done.

Excellent after-sales service has been

rendered every time by all the Expat

members, be it in Dubai, Bombay,

Pune, Goa or Bangalore. As I became

more and more confident of the

products and services offered by Expat,

it became almost my duty to introduce

my friends and colleagues to them.

They too are now satisfied customers

of Expat Properties.

I foresee a great future for all the

partners and patrons of Expat

Properties, and true to your mission,

you do an exceptional job in “Building

Relationships”.

Kishore Watson

Sr. Construction Supervisor

Tebodin Middle East Ltd.

Dear valued clients and associates,

We have just passed halfway through 2006. Six months and more of the booming

real estate scene in India and there is no more talk of unrealistic investment

patterns as we see mega projects being launched, long-pending infrastructural

plans being put into action and of course, the continuing global interest in the

Indian market.

Such interest brings with it the need to change from the ordinary to the

extraordinary, as expectations tend to be higher across sectors – be it in the

amenities on offer or the interiors and other specifications. We believe that such

add-ons enhance the value you get for your money. We have featured several

projects of investment value in this issue of The Expat Buzz for those wanting to

jump onto the bandwagon and gain a sound real estate investment. If you are

planning something of that nature, I urge you to get in touch with our well-

equipped Sales Team to learn more about the various options available but which

have not been featured at the time of the issue going to press.

Santosh Shetty

CEO speaks

Disclaimer

While The Expat Buzz makes every effort to ensure that everything in the newsletter is accurate and

complete, we provide it for information purposes only, so it is indicative rather than definitive. We thus

make no explicit or implicit guarantee of its accuracy, and, as far as applicable laws allow, we neither

accept responsibility for errors, inaccuracies or omissions, nor for any loss that may result directly or

indirectly from reliance on its contents. Readers of this newsletter should not take, or omit to take, any

action that relies on information. Through the newsletter, neither Expat Properties nor any other person is

providing advisory, consulting or other professional services.

B U L L E T I N B O A R D

Imagine getting from Santacruz to

Chembur in just 12 minutes, instead of

the one hour it now takes you! This is no

dream, but one of the benefits of a long-

pending project to bridge the east-west

divide in Amchi Mumbai. The modern

marvel in question is a double decker

f lyover-cum-overbridge between

Santacruz and Chembur to be built as

part of the Santacruz-Chembur Link

Road (SCLR) project.

T he Maha ra sh t ra S t a t e Road

Development Corporation (MSRDC) will

build the bridge in 18 months. It will

connect Kalina to the Amar Mahal

Junction in Chembur on one side while its

cross arm will link Nehru Nagar in Kurla to

the Lokmanya Tilak Terminus.

The Kalina-Amar Mahal Junction

overbridge (East-West) will initially be


Bridging the East-West dividesix-lane but later become eight-lane

because of a second-floor two-lane 1.9

km-long section between Kurla and

Chembur. In the north-south connection

linking Nehru Nagar and the Terminus,

there will be a 2.2 km elevated stretch.

SCLR, conceptualized in the 1960s,

remained on paper till last year.

Its upper deck bridge will connect the

suburbs of Santacruz and Chembur,

while the lower deck bridge will ensure

faster local connectivity. The Minister

for Public Works, Anil Deshmukh

called it integrated planning. “There

will be faster exits to the Lokmanya

Tilak Terminus. We also expect the

Terminus to attract more traffic after

its re-development,” he said.

Source: The Times of India

News of interest for our Kohinoor clients

Take off from Navi Mumbai by October 2012Navi Mumbai may have been planned as

a ‘satellite’ of Mumbai but it is now all set

to take off on its own. Plans are being

finalized for a world-class international

airport at Panvel.

The airport, slated to be Mumbai’s

second airport, will be operational by

October 2012. It will have two parallel

runways (each 3,700 meters long)

for segregated and simultaneous

operations. To reach the airport, citizens

will zip across the proposed 225 km

Sewri-Nhava Trans-harbor link or simply

hop into a hovercraft from Colaba! The

City and Industrial Development

Corporation of Maharashtra Limited

(CIDCO) and the Airports Authority

of India will prepare a detailed

project report for the plan which has

approval from the international civil

aviation body.

Naturally, plots around Kalamboli and

Panvel are being snapped up even

though land rates have gone sky high.

According to one realty consultant, prices

around the Nhava Sheva port in Panvel

are up 100 percent!

News of interest for our Panvel investors

Source: August 2006, The Times of India22

B U L L E T I N B O A R DSEZs to morph into Investment

Regions?

Infy plans SEZs in Tier II cities

While so much interest has been

generated, are SEZs, per se, undergoing

subt le modif icat ions? Recent ly,

Department of Industrial Policy and

Promotion Secretary, Ajay Dua, hinted as

much when he said: “We plan to set up

five or six Investment Regions in the

country to extract maximum leverage

f rom proposed investments in

infrastructure”.

The proposal involves a network of high

quality roads, air and sea ports and

power plants connecting every industry

and development in a geographical area

of 250–300 km.

Existing SEZs could be included in such

regions, Dua said. State governments

such as Gujarat, Maharashtra, Haryana,

Karnataka, Andhra Pradesh and Orissa

have reportedly sent proposals on

this already.

At the moment, however, SEZs

continue to be high on the radar.

The Nasdaq- l i s ted In fosys

Technologies is planning SEZs

either entirely on its own or will

locate itself in zones promoted by

others.

This is because tax benefits on

the export revenues of

software companies will end by

2010.

“This year we will invest

about $400 million in

expansion, which includes

investment in SEZs. We

already have a SEZ in

Mahindra City and are

looking at SEZs in

Mysore, Mangalore,

Thiruvananthapuram,

Chandigarh and Pune.

Given the tax benefits,

it makes sense to

expand within SEZs

and we will look for

t h e m w h e r e v e r

The who’s who on the SEZ

scene

The SEZ scene may be on

fire just now, but do you know

which company is investing

how much and where? Take a

look at our list.

The 1,000 to 10,000+ acre

club

Mahindras – 10,000+ acres

In Chennai, Pune, Jaipur and

Eastern India, Tier II cities

Emaar – 10,000+ acres

Across India

Ansals – 10,000 + acres

Across India

Infosys– 2,145 acres

Bangalore, Hyderabad

Indiabulls – 192 acres

Sonepat, Mumbai, Delhi

The 20,000 + acre club

Tata Group – 30,000+ acres

Across India

Unitech – 30,000+ acres

Kundli (North Delhi)

Baba Kalyani – 27,000 + acres

Bangalore, Pune

Sahara – 20,000 + acres

Across India


Reliance Industries – 100,000

acres

Navi Mumbai, Haryana, East

and South India

DLF Universal – 50,000+ acres

Across India


All the buzz... (cont'd from page 1)

possible,” Krish Gopalakrishnan, COO,

Infosys Technologies, said recently.

Likewise, the Essar Group plans to invest

nearly Rs 11,000 crore in a proposed SEZ

near Jamnagar, Gujarat. The actual

investment could be even higher. “Under

SEZ rules, the anchor company will

invest 75% of the total investment. So,

total investment will be close to

Rs 15,000 crore,” company officials have

disclosed.

The Hinduja Group is planning a

multi-product SEZ at Visakhapatnam. It

also plans to use its Hyderabad land

where Indian Detonators Limited (IDL), a

group company, is presently located, for

other purposes.

Essar looking at Rs 11,000 crore SEZ

Hindujas select Vizag for multi-

product SEZ

Tired of the interminable traffic jams and endless hours on

Mumbai’s clogged roads? Take heart. Work on the Mumbai

Metro network will start this year-end.

Then, work begins on the first of the planned nine corridors of

the 146 km Metro rail network that will crisis-cross the city.

The first trains will start chugging by 2009. All this is because

the state government has now accepted a bid from a Reliance

Energy Limited-led consortium to build the city’s first Metro

corridor – an 11.4 km Versova-Andheri-Ghatkopar stretch.

At a project cost of Rs 2,356 crore, including government

subsidy of Rs 651 crore, this long overdue Metro link will be

India’s most expensive public transport link so far: over Rs

214 crore per km! The project is India’s first Metro to be

executed on a Build-Own-Operate-Transfer (BOOT) basis. The

consortium will run it till 2039-40; then hand it over to the

state.

Traffic analysis has shown that each train trip will carry as

many as seven lanes of bus traffic or 24 lanes of private motor

cars. Fares are Rs 6 (up to 3 km), Rs 8 (3 km-8 km) and Rs 10.

B’lore-Mysore corridor updatePhase I of the Rs 2,250-crore Bangalore-

Mysore Infrastructure Corridor (BMIC)

project is to be complete by August 15

2006. By then, the project executor,

Nandi Infrastructure Corridor Enterprises

(NICE), must build a 9.1 km link road

between Mysore Road (BHEL) and

Somupura (the interchange and the

beginning of the expressway), a 12 km

expressway up to Bidadi, develop

interchanges at Hosur Road and a 41 km

peripheral road linking Hosur Road to

Tumkur Road.

Phase II will involve building a 35 km

expressway between Bidadi and

Channapatna along with Commercial and

Industrial Townships. The final phase will

see the portion of the expressway

between Ramanagaram and Mysore

taken up, two more townships developed

along with an eco-tourism project and a

heritage center. NICE Managing Director,

Ashok Kheny, is confident the

expressway will be completed by the

middle of 2008. Townships will have basic

facilities such as roads, drains, power

and water supply by the middle of 2009.

Source: The Indian Express

Mumbai Metro work to start end-2006

News of interest for our Bangalore investors

Source: 18 May 2006, The Indian Express

B U L L E T I N B O A R DSEZs to morph into Investment

Regions?

Infy plans SEZs in Tier II cities

While so much interest has been

generated, are SEZs, per se, undergoing

subt le modif icat ions? Recent ly,

Department of Industrial Policy and

Promotion Secretary, Ajay Dua, hinted as

much when he said: “We plan to set up

five or six Investment Regions in the

country to extract maximum leverage

f rom proposed investments in

infrastructure”.

The proposal involves a network of high

quality roads, air and sea ports and

power plants connecting every industry

and development in a geographical area

of 250–300 km.

Existing SEZs could be included in such

regions, Dua said. State governments

such as Gujarat, Maharashtra, Haryana,

Karnataka, Andhra Pradesh and Orissa

have reportedly sent proposals on

this already.

At the moment, however, SEZs

continue to be high on the radar.

The Nasdaq- l i s ted In fosys

Technologies is planning SEZs

either entirely on its own or will

locate itself in zones promoted by

others.

This is because tax benefits on

the export revenues of

software companies will end by

2010.

“This year we will invest

about $400 million in

expansion, which includes

investment in SEZs. We

already have a SEZ in

Mahindra City and are

looking at SEZs in

Mysore, Mangalore,

Thiruvananthapuram,

Chandigarh and Pune.

Given the tax benefits,

it makes sense to

expand within SEZs

and we will look for

t h e m w h e r e v e r

The who’s who on the SEZ

scene

The SEZ scene may be on

fire just now, but do you know

which company is investing

how much and where? Take a

look at our list.

The 1,000 to 10,000+ acre

club

Mahindras – 10,000+ acres

In Chennai, Pune, Jaipur and

Eastern India, Tier II cities

Emaar – 10,000+ acres

Across India

Ansals – 10,000 + acres

Across India

Infosys– 2,145 acres

Bangalore, Hyderabad

Indiabulls – 192 acres

Sonepat, Mumbai, Delhi


Tata Group – 30,000+ acres

Across India

Unitech – 30,000+ acres

Kundli (North Delhi)

Baba Kalyani – 27,000 + acres

Bangalore, Pune

Sahara – 20,000 + acres

Across India


Reliance Industries – 100,000

acres

Navi Mumbai, Haryana, East

and South India

DLF Universal – 50,000+ acres

Across India


All the buzz... (cont'd from page 1)

possible,” Krish Gopalakrishnan, COO,

Infosys Technologies, said recently.

Likewise, the Essar Group plans to invest

nearly Rs 11,000 crore in a proposed SEZ

near Jamnagar, Gujarat. The actual

investment could be even higher. “Under

SEZ rules, the anchor company will

invest 75% of the total investment. So,

total investment will be close to

Rs 15,000 crore,” company officials have

disclosed.

The Hinduja Group is planning a

multi-product SEZ at Visakhapatnam. It

also plans to use its Hyderabad land

where Indian Detonators Limited (IDL), a

group company, is presently located, for

other purposes.

Essar looking at Rs 11,000 crore SEZ

Hindujas select Vizag for multi-

product SEZ

Tired of the interminable traffic jams and endless hours on

Mumbai’s clogged roads? Take heart. Work on the Mumbai

Metro network will start this year-end.

Then, work begins on the first of the planned nine corridors of

the 146 km Metro rail network that will crisis-cross the city.

The first trains will start chugging by 2009. All this is because

the state government has now accepted a bid from a Reliance

Energy Limited-led consortium to build the city’s first Metro

corridor – an 11.4 km Versova-Andheri-Ghatkopar stretch.

At a project cost of Rs 2,356 crore, including government

subsidy of Rs 651 crore, this long overdue Metro link will be

India’s most expensive public transport link so far: over Rs

214 crore per km! The project is India’s first Metro to be

executed on a Build-Own-Operate-Transfer (BOOT) basis. The

consortium will run it till 2039-40; then hand it over to the

state.

Traffic analysis has shown that each train trip will carry as

many as seven lanes of bus traffic or 24 lanes of private motor

cars. Fares are Rs 6 (up to 3 km), Rs 8 (3 km-8 km) and Rs 10.

B’lore-Mysore corridor updatePhase I of the Rs 2,250-crore Bangalore-

Mysore Infrastructure Corridor (BMIC)

project is to be complete by August 15

2006. By then, the project executor,

Nandi Infrastructure Corridor Enterprises

(NICE), must build a 9.1 km link road

between Mysore Road (BHEL) and

Somupura (the interchange and the

beginning of the expressway), a 12 km

expressway up to Bidadi, develop

interchanges at Hosur Road and a 41 km

peripheral road linking Hosur Road to

Tumkur Road.

Phase II will involve building a 35 km

expressway between Bidadi and

Channapatna along with Commercial and

Industrial Townships. The final phase will

see the portion of the expressway

between Ramanagaram and Mysore

taken up, two more townships developed

along with an eco-tourism project and a

heritage center. NICE Managing Director,

Ashok Kheny, is confident the

expressway will be completed by the

middle of 2008. Townships will have basic

facilities such as roads, drains, power

and water supply by the middle of 2009.

Source: The Indian Express

Mumbai Metro work to start end-2006

News of interest for our Bangalore investors

Source: 18 May 2006, The Indian Express

Given the dedication and strict quality

control we exercise, we are now

recognized as contractors to be reckoned

within the telecom industry! In keeping

with this commitment to expand, the

Contracting Division has seen an

impressive growth in clientele as well as

geographical reach – we now have offices

in Chennai, Ranchi,

B a n g a l o r e a n d

Kolkata. This has also

helped us diversify our

portfolio.

When a project is

entrusted to us, we

ensure that we deliver.

No matter what the

c i r c u m s t a n c e s .

Recently, we delivered

Phase I of what we had

committed to Hutch

and Nortel. Once the

m o n s o o n s a r e

over, we plan to

further diversify

Of deadlines and

diversification

Just as the Retail division is constantly

striving to add value to our valuable

clients, the Contracting Division too is

continuously re-inventing itself. Now,

there has been a successful transition

from pure contract ing of land

development, road alignment and

construction to the telecom industry.

Broadening our horizons... to serve you better

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N6 | Aug 2006 | THE EXPAT BUZZ THE EXPAT BUZZ | Aug 2006| 7

In keeping with our commitment of

meeting clients at their every point of

need, our Retail Division has surveyed

developing areas that surround cities

such as Bangalore and Mysore as well as

suburban localities such as Navi Mumbai.

With our proven expertise in the real

estate scene, we have decided to zero in

on a couple of prime locations for you.

In Bangalore, there has been

unprecedented demand for residential

property across micro markets with

prices hardening for all categories of

properties. Demand for independent

luxury homes and high end apartments is

on the rise. One reason is larger

disposable incomes. To help meet this

unprecedented demand for our clients,

Expat Properties has enhanced its retail

property portfolio in the Bangalore

suburbs.

Hebbal is a residential complex

with 2-3 BHK luxury apartments in the

heart of the city. The apartments are

1,200 to 1,500 sq. ft. and enveloped in

the beauty and tranquility of the nearby

Hebbal Lake. The property is less than

eight km from M.G. Road and just half a

kilometer from the Ring Road. This

Hebbal:

means you can easily drive to any part of

the city! Given our stress on quality, the

flats come equipped with all modern

amenities and best of all, are priced at

very competitive rates.

Mysore is to Bangalore what

Pune is to Mumbai. Like Pune, Mysore is

the next destination for futuristic

development. Besides, Mysore has

better infrastructure and is more

picturesque than Bangalore.

Now, the royal city is set for a makeover

as the new destination for corporates.

Connectivity used to be a major factor

but the four lane road and the

considerable progress on the Bangalore-

Mysore Expressway has generated

demand for space in Mysore. The two

cities are now an hour and a half away. IT

biggies Wipro and First American

Corporation plan major operations in

Mysore. Infosys already has a training

center here and Wipro has reportedly

acquired land. The expressway, broad

gauge conversion and air connectivity

will soon change the face of Mysore. With

our knack for being bang on when it

comes to such developments, Expat

Properties is in the process of acquiring

80 acres on Bannur Road in Mysore, just

seven km from the Palace grounds.

As Mumbai, in its effort to

expand, is taking concrete steps to link to

the mainland, we as a company followed

the vibes and acquired land in the city of

Panvel.

Panvel is a quiet countryside suburb on

the western coast of India. It is a nodal

city, 15 minutes away from Navi Mumbai

and 45 minutes from Sion-Mumbai. Lush

Mysore:

Panvel:

and green with waterfalls and sylvan

countryside, Panvel is a well planned

suburb with good transport facilities,

wide roads, and facilities for education,

entertainment, etc. It is fast turning out

to be a premium residential locality.

It is also well connected to Mumbai. In

the past couple of years, there have been

major developments around Panvel such

as the DAKC at Koparkhairane, the

Jawaharlal Nehru Port Trust, the

International Infotech Park at Vashi and

the International Technology Center at

Belapur. (Our City Focus column

on page 10 updates you on

developments around Panvel.)

We have on offer residential plots of a

minimum size of 3,013 sq. ft. each,

having an FSI of 1:1 for construction. The

property is just two km off NH4 and eight

km from Panvel station.

Our property promises high returns given

that New Panvel is now saturated and

non-agricultural land scarce. Its

proximity to the proposed International

Airport, the proposed Mukesh Ambani’s

Maha Mumbai project and the

Sion–Panvel multi-lane project are added

attractions.

All this makes Panvel a super investment

for those who want property with

potential.

“You may call it divine intuition or

simply intelligent strategising” but

by a happy coincidence all our new

ventures, whether in Bangalore or

Mumbai, are in and around major

developments. An investment in any of

these properties will, therefore, be

extremely lucrative.

into constructing villas / bungalows for

projects handled by our Retail Divison.

This will ensure that we bring a unique,

hands-on approach to all the projects.

As we mentioned before, broadening our

horizons ensures that we stay on top. We

are constantly on the look out for

untapped market spaces such as

w a r e h o u s i n g , l o w - c o s t r a p i d

construction, integrated commercial /

residential complex maintenance, and so

on. These are areas where we believe we

can set the standards.

Last but not the least; our efforts

would be in vain if we did not have

t h e c o n s t a n t s u p p o r t a n d

encouragement of our esteemed

clients, our board and all divisions

that continue to extend confidence

in the abilities of our team. It is

such support that reinforces our

be l ie fs and leaves us

enthused!

That is why we aim to do

better, always.

Contracting Division Retail Division

Given the dedication and strict quality

control we exercise, we are now

recognized as contractors to be reckoned

within the telecom industry! In keeping

with this commitment to expand, the

Contracting Division has seen an

impressive growth in clientele as well as

geographical reach – we now have offices

in Chennai, Ranchi,

B a n g a l o r e a n d

Kolkata. This has also

helped us diversify our

portfolio.

When a project is

entrusted to us, we

ensure that we deliver.

No matter what the

c i r c u m s t a n c e s .

Recently, we delivered

Phase I of what we had

committed to Hutch

and Nortel. Once the

m o n s o o n s a r e

over, we plan to

further diversify

Of deadlines and

diversification

Just as the Retail division is constantly

striving to add value to our valuable

clients, the Contracting Division too is

continuously re-inventing itself. Now,

there has been a successful transition

from pure contract ing of land

development, road alignment and

construction to the telecom industry.


RE

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TH

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In keeping with our commitment of

meeting clients at their every point of

need, our Retail Division has surveyed

developing areas that surround cities

such as Bangalore and Mysore as well as

suburban localities such as Navi Mumbai.

With our proven expertise in the real

estate scene, we have decided to zero in

on a couple of prime locations for you.

In Bangalore, there has been

unprecedented demand for residential

property across micro markets with

prices hardening for all categories of

properties. Demand for independent

luxury homes and high end apartments is

on the rise. One reason is larger

disposable incomes. To help meet this

unprecedented demand for our clients,

Expat Properties has enhanced its retail

property portfolio in the Bangalore

suburbs.

Hebbal is a residential complex

with 2-3 BHK luxury apartments in the

heart of the city. The apartments are

1,200 to 1,500 sq. ft. and enveloped in

the beauty and tranquility of the nearby

Hebbal Lake. The property is less than

eight km from M.G. Road and just half a

kilometer from the Ring Road. This

Hebbal:

means you can easily drive to any part of

the city! Given our stress on quality, the

flats come equipped with all modern

amenities and best of all, are priced at

very competitive rates.

Mysore is to Bangalore what

Pune is to Mumbai. Like Pune, Mysore is

the next destination for futuristic

development. Besides, Mysore has

better infrastructure and is more

picturesque than Bangalore.

Now, the royal city is set for a makeover

as the new destination for corporates.

Connectivity used to be a major factor

but the four lane road and the

considerable progress on the Bangalore-

Mysore Expressway has generated

demand for space in Mysore. The two

cities are now an hour and a half away. IT

biggies Wipro and First American

Corporation plan major operations in

Mysore. Infosys already has a training

center here and Wipro has reportedly

acquired land. The expressway, broad

gauge conversion and air connectivity

will soon change the face of Mysore. With

our knack for being bang on when it

comes to such developments, Expat

Properties is in the process of acquiring

80 acres on Bannur Road in Mysore, just

seven km from the Palace grounds.

As Mumbai, in its effort to

expand, is taking concrete steps to link to

the mainland, we as a company followed

the vibes and acquired land in the city of

Panvel.

Panvel is a quiet countryside suburb on

the western coast of India. It is a nodal

city, 15 minutes away from Navi Mumbai

and 45 minutes from Sion-Mumbai. Lush

Mysore:

Panvel:

and green with waterfalls and sylvan

countryside, Panvel is a well planned

suburb with good transport facilities,

wide roads, and facilities for education,

entertainment, etc. It is fast turning out

to be a premium residential locality.

It is also well connected to Mumbai. In

the past couple of years, there have been

major developments around Panvel such

as the DAKC at Koparkhairane, the

Jawaharlal Nehru Port Trust, the

International Infotech Park at Vashi and

the International Technology Center at

Belapur. (Our City Focus column

on page 10 updates you on

developments around Panvel.)

We have on offer residential plots of a

minimum size of 3,013 sq. ft. each,

having an FSI of 1:1 for construction. The

property is just two km off NH4 and eight

km from Panvel station.

Our property promises high returns given

that New Panvel is now saturated and

non-agricultural land scarce. Its

proximity to the proposed International

Airport, the proposed Mukesh Ambani’s

Maha Mumbai project and the

Sion–Panvel multi-lane project are added

attractions.

All this makes Panvel a super investment

for those who want property with

potential.

“You may call it divine intuition or

simply intelligent strategising” but

by a happy coincidence all our new

ventures, whether in Bangalore or

Mumbai, are in and around major

developments. An investment in any of

these properties will, therefore, be

extremely lucrative.

into constructing villas / bungalows for

projects handled by our Retail Divison.

This will ensure that we bring a unique,

hands-on approach to all the projects.

As we mentioned before, broadening our

horizons ensures that we stay on top. We

are constantly on the look out for

untapped market spaces such as

w a r e h o u s i n g , l o w - c o s t r a p i d

construction, integrated commercial /

residential complex maintenance, and so

on. These are areas where we believe we

can set the standards.

Last but not the least; our efforts

would be in vain if we did not have

t h e c o n s t a n t s u p p o r t a n d

encouragement of our esteemed

clients, our board and all divisions

that continue to extend confidence

in the abilities of our team. It is

such support that reinforces our

be l ie fs and leaves us

enthused!

That is why we aim to do

better, always.

Contracting Division Retail Division

Expat Properties’ new venture

Expat Properties (I) Ltd. has

ventured into the secondary

market through all its existing

offices. There is a large market for

flats bought and sold either by the

investor to the end users or leased

out for periods ranging from eleven

months to nine years.

As most of our clients possess more

than two properties in India, we

realized we could help them lease or

sell their apartments to benefit from

the ongoing realty boom. Such a

venture ensures we stay true to our

motto: ‘Building Relationships’.

Details of ongoing projects

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Details of ongoing projects (cont'd)

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Botharwadi

Pirungut Industrial Area

Location:

This is a 70-acre property in Mulshi Taluka, Pune. Apart from

the glorious location, it also scores because of its connectivity.

It is just 17 km from Kothrud, 12 km from Hinjewadi, 24 km

from Lavasa and seven km from Manas Resort & Boating.

Highlights:

Here, you find agricultural land in an untouched state. The

property is next to a four-track road and there are a number of

farmhouse and bungalow plots nearby. What is more

attractive is that you can immediately register. What goes

without saying is that the project and the land has high utility

value.

Given the increasing potential for real estate investments, we

also have on offer land in and around Bangalore, Pune, Goa

and Navi Mumbai.

Location:

Situated right in the Pirangut Industrial estate, Mulshi Taluka,

this is ideal for business expansion. Just two km from

Gothwade Phata, 17 km from Chandini Chowk and 15 km from

Salthar

Location: Situated in Lonavala, a hill station, just 128 km from

Mumbai and 94 km from Pune.

Highlights:

Not only is this a slice of unspoilt nature, another advantage is

that Salthar adjoins the mega Amby Valley project and is just 30

minutes’ drive from Lonavala City. So, not only do you get the

best of natural beauty, you also get all the urban conveniences –

asphalted approach roads, electricity connections, regular water

supply and every other amenity you can think of.

Hinjewadi IT Park. In fact, it is barely a half an hour's drive

from Pune city.

Highlights:

The total land available is 24 acres and it comes under the

industrial zone. The terrain is good and there's a river flowing

by the south side of the property. In terms of facilities, water

and electricity connections are already in place and there is an

asphalted approach road from the north side.

Location:

On offer are 3.850 acres inside the Urawade residential zone.

This is perfect because it is just 1,000 metres away from the

Pirangut Industrial Estate. Besides, it is 14 km from Chandni

Chowk and 16.5 km from the Hinjewadi IT Park.

Highlights:

Urawade offers you the chance to build a home away from

home. On offer are residential plots of 2,800 to 3,000 sq.ft.

with all necessary amenities. There will be no question of

being isolated for other developers have bungalow-sized plots

in the neighborhood. As with all the other projects, the land

has high utility value.

Urawade Residential Zone

Wegre

Location:

Situated in Mulshi Taluka, Pune, Wegre is another place blessed

by nature’s bounty. It lies at the edge of a lake created by the

Temghar dam and is just 202 km from Mumbai. In fact, from

Chandni Chawk to the site is just 36 km and it is barely five

minutes from Lavasa!

Highlights:

This is a 1,000 acre property and adjoins the Lavasa project.

As we said before, the backwaters of the Temghar dam lend a

quiet magnificence to the area.

Kohinoor City

Around this time last year there was

chaos in Mumbai with the rains pouring

down like there was no tomorrow. The

scene at Kohinoor City was no different;

there was water, water, everywhere –

logging outside and within the complex.

Then followed the infamous deluge of

26/7 that left areas around Kohinoor City

submerged under 14 ft. of water while

the complex experienced only four ft.

of water.

This was an eye opener as after that we

re-examined and altered the drainage

system. This monsoon too has led to

heavy downpours but fortunately, there

has been no water logging, within the

complex or around.

Construction is on in full swing. Work on

the columns and the slabs is over and

now it is time to lay bricks for the

exteriors. The interiors will be done last.

All the citizens of Kohinoor City have met

the Kohinoor team, either at the site or in

the case of the Middle Eastern clients,

in Dubai / Oman, to get the

flats customized.

The buildings, though skeletal

now, do hint at what the

finished buildings will look.

Safety standards are excellent

– in contrast to what most other

builders practise. That in itself

speaks of the quality

maintained in the project.

The Kohinoor team has

worked day and night which is

how the two slabs have

been put up within a

month, though it usually

takes anywhere between 30

and 45 days. This may have

put some extra burden

on clients as they had to

make payments faster

than expected.

Signboards on the

internal roads are up,

excavation of the mall

site is on and post monsoon, actual

construction will start. Overall, work is

progressing as per schedule and the

Kohinoor team should be able to deliver

the much awaited Kohinoor City within

the stipulated time.

The Solitude

Highlights:

Location: Situated 48 km from Pune and

163 km from Mumbai, The Solitude is

located in the idyllic hill station of

Mugaon. Perched beside a lake created

by the Warasgaon dam, the very air here

brings a blush to your cheeks and a smile

to your lips. Naturally, the weather is

excellent all through the year.

There are plots of different sizes available

– ideal for cottages, bungalows or little

villas, depending on what you want to do

with this haven of peace and serenity.

Apart from the scenic beauty of the area,

the fact that land prices in the vicinity are

on an inexorable climb, make this a

surefire investment winner!

Land Trade

Expat Properties’ new venture

Expat Properties (I) Ltd. has

ventured into the secondary

market through all its existing

offices. There is a large market for

flats bought and sold either by the

investor to the end users or leased

out for periods ranging from eleven

months to nine years.

As most of our clients possess more

than two properties in India, we

realized we could help them lease or

sell their apartments to benefit from

the ongoing realty boom. Such a

venture ensures we stay true to our

motto: ‘Building Relationships’.

Details of ongoing projects

RE

TA

IL

AN

D

LA

ND

T

RA

DE


Details of ongoing projects (cont'd)

RE

TA

IL

AN

D

LA

ND

T

RA

DE

Botharwadi

Pirungut Industrial Area

Location:

This is a 70-acre property in Mulshi Taluka, Pune. Apart from

the glorious location, it also scores because of its connectivity.

It is just 17 km from Kothrud, 12 km from Hinjewadi, 24 km

from Lavasa and seven km from Manas Resort & Boating.

Highlights:

Here, you find agricultural land in an untouched state. The

property is next to a four-track road and there are a number of

farmhouse and bungalow plots nearby. What is more

attractive is that you can immediately register. What goes

without saying is that the project and the land has high utility

value.

Given the increasing potential for real estate investments, we

also have on offer land in and around Bangalore, Pune, Goa

and Navi Mumbai.

Location:

Situated right in the Pirangut Industrial estate, Mulshi Taluka,

this is ideal for business expansion. Just two km from

Gothwade Phata, 17 km from Chandini Chowk and 15 km from

Salthar

Location: Situated in Lonavala, a hill station, just 128 km from

Mumbai and 94 km from Pune.

Highlights:

Not only is this a slice of unspoilt nature, another advantage is

that Salthar adjoins the mega Amby Valley project and is just 30

minutes’ drive from Lonavala City. So, not only do you get the

best of natural beauty, you also get all the urban conveniences –

asphalted approach roads, electricity connections, regular water

supply and every other amenity you can think of.

Hinjewadi IT Park. In fact, it is barely a half an hour's drive

from Pune city.

Highlights:

The total land available is 24 acres and it comes under the

industrial zone. The terrain is good and there's a river flowing

by the south side of the property. In terms of facilities, water

and electricity connections are already in place and there is an

asphalted approach road from the north side.

Location:

On offer are 3.850 acres inside the Urawade residential zone.

This is perfect because it is just 1,000 metres away from the

Pirangut Industrial Estate. Besides, it is 14 km from Chandni

Chowk and 16.5 km from the Hinjewadi IT Park.

Highlights:

Urawade offers you the chance to build a home away from

home. On offer are residential plots of 2,800 to 3,000 sq.ft.

with all necessary amenities. There will be no question of

being isolated for other developers have bungalow-sized plots

in the neighborhood. As with all the other projects, the land

has high utility value.

Urawade Residential Zone

Wegre

Location:

Situated in Mulshi Taluka, Pune, Wegre is another place blessed

by nature’s bounty. It lies at the edge of a lake created by the

Temghar dam and is just 202 km from Mumbai. In fact, from

Chandni Chawk to the site is just 36 km and it is barely five

minutes from Lavasa!

Highlights:

This is a 1,000 acre property and adjoins the Lavasa project.

As we said before, the backwaters of the Temghar dam lend a

quiet magnificence to the area.

Kohinoor City

Around this time last year there was

chaos in Mumbai with the rains pouring

down like there was no tomorrow. The

scene at Kohinoor City was no different;

there was water, water, everywhere –

logging outside and within the complex.

Then followed the infamous deluge of

26/7 that left areas around Kohinoor City

submerged under 14 ft. of water while

the complex experienced only four ft.

of water.

This was an eye opener as after that we

re-examined and altered the drainage

system. This monsoon too has led to

heavy downpours but fortunately, there

has been no water logging, within the

complex or around.

Construction is on in full swing. Work on

the columns and the slabs is over and

now it is time to lay bricks for the

exteriors. The interiors will be done last.

All the citizens of Kohinoor City have met

the Kohinoor team, either at the site or in

the case of the Middle Eastern clients,

in Dubai / Oman, to get the

flats customized.

The buildings, though skeletal

now, do hint at what the

finished buildings will look.

Safety standards are excellent

– in contrast to what most other

builders practise. That in itself

speaks of the quality

maintained in the project.

The Kohinoor team has

worked day and night which is

how the two slabs have

been put up within a

month, though it usually

takes anywhere between 30

and 45 days. This may have

put some extra burden

on clients as they had to

make payments faster

than expected.

Signboards on the

internal roads are up,

excavation of the mall

site is on and post monsoon, actual

construction will start. Overall, work is

progressing as per schedule and the

Kohinoor team should be able to deliver

the much awaited Kohinoor City within

the stipulated time.

The Solitude

Highlights:

Location: Situated 48 km from Pune and

163 km from Mumbai, The Solitude is

located in the idyllic hill station of

Mugaon. Perched beside a lake created

by the Warasgaon dam, the very air here

brings a blush to your cheeks and a smile

to your lips. Naturally, the weather is

excellent all through the year.

There are plots of different sizes available

– ideal for cottages, bungalows or little

villas, depending on what you want to do

with this haven of peace and serenity.

Apart from the scenic beauty of the area,

the fact that land prices in the vicinity are

on an inexorable climb, make this a

surefire investment winner!

Land Trade

Mumbai may be bigger and better known

on the global radar but there’s a city by

its side that’s slowly but surely, shaking

off its satellite role to emerge as a star.

Navi Mumbai may be technically a Tier II

city or a ‘satellite’ of Mumbai, but it is now

a land of opportunity. Developed from

marshy land, this ‘parallel city’ is fast

metamorphosing into an independent,

self-contained, well-planned and

modern metro.

Egging on this growth path is the City and

Industrial Development Corporation of

Maharashtra Limited (CIDCO). By

meeting all the infrastructural needs,

CIDCO is making sure that Navi Mumbai

will soon have a tactical and strategic

advantage over Mumbai!

The city is being developed as a series of

nodes, strung along an efficient Mass

Transport System in the form of

commuter Railway Network well

connected to Mumbai-Thane and

adjoining areas. Each node is expected to

be self-sufficient in facilities such as

schools / colleges, hospitals, recreation,

community services, etc. The Indian

Railways also plans a long distance

terminal, close to CBD-Belapur, to meet

the needs of inter-city travel from Navi

Mumbai. CIDCO has also planned a new

railway corridor from Belapur to Uran to

connect with the new port city

of Dronagiri.

There are plans for a domestic airport, an

international convention / exhibition

center with a five star hotel. Also on the

A string of developments

Navi Mumbai – From satellite to star city

anvil are a golf course, a country club, a

technology park and an amusement

park. The proposed Sion-Panvel multi-

lane road project is about to take off. This

project will provide an express entry into

or exit from the city, as it will work as an

extension of the Mumbai-Pune

Expressway up to Sion.

Naturally, all these proposed projects

have caught the eye of astute investors.

As a result, land rates have seen an

appreciation of 10-20 per cent in the past

one year alone, with Nerul, Kharghar,

Panvel areas leading the pack. Places

adjoining Rabale station on the Thane-

Belapur road, which used to be dormant

earlier, are now high on the investors’ list.

This is because of its easy connectivity

and the availability of open land.

Property prices here are naturally

expected to spike soon.

Adding to the attraction is the Dhirubhai

Ambani Knowledge City (DAKC) in

Koparkharaine. The International

Infotech Park in Vashi and the

International Technology Center in

Belapur-CBD have also helped enhance

the city’s image.

The city’s true potential will, however, be

showcased with the proposed Reliance

Special Economic Zone (SEZ) in Navi

Mumbai. Work on the project is slated to

begin this September. An entirely new

city, one-third the size of Navi Mumbai,

will come up on 14,000 hectares of land.

The Rs 25,000 crore price tag is nothing

Investment city

Icing on the cake

compared to the estimated Rs 2,50,000

crore that other developers will invest

into putting up factories, residential

complexes, hospitals, hotels and

shopping malls across the SEZ. This new

cluster is to be completed by the end of

this decade. It will house over a million

people, virtually the same number

currently living in Navi Mumbai!

The Kalomboli zone near the Mumbai-

Pune highway will be used to set up a hub

for food processing and textiles. The

bigger goal is to create an international

financial services center where global

banks, insurance companies and

merchant banks can function just as

though they were in London or New York.

Many of these projects may be in the

pipeline but in reality, they’ve already

contributed to increasing land prices. On

the anvil are a World Trade Center, the

Mumbai University campus, the Panvel

Karjat railway line, the Dhapoli

amusement pa rk , t he second

international airport, the Sewri-Nhava

sea link, and the Jawaharlal Nehru Port

Trust-Goa Express Highway which will cut

the distance to Goa by 215 km.

The construction projects are just the

beginning. Our analysis, supported by a

recent article in DNA, is that Navi Mumbai

is set to be the next boom town – in every

possible way. For instance, there will

soon be an airport, a trans-harbor sea

link, a special economic zone (SEZ) and

over half a dozen mega malls in the area.

The surge has begun

Tip of the iceberg

CIT

Y

FO

CU

S


BELT 2006 2011 2016 2021

South Mumbai 8,000/- 18,000/- 27,000/- 29,000/-

Western Suburbs 3,800/- 7,700/- 8,900/- 9,200/-

Eastern Suburbs 3,000/- 5,600/- 7,300/- 9,200/-

Navi Mumbai 1,800/- 4,000/- 14,000/- 17,000/-

Uran 750/- 1,400/- 7,000/- 9,400/-

Kalyan Dombivili 1,100/- 1,550/- 2,000/- 2,200/-

A study predicts that in a decade, Navi Mumbai will overtake the suburbs to become the second-most

expensive residential location.

Source: 14 June 2006, Midday,

Vashi 6,000

Sanpada 10,000

Koparkhairane 3,000 – 5,000

Airoli 4,000 – 8,000

Ghansoli 3,000 – 5,000

CBD Belapur 2,000 – 2,500

Kharghar 2,500 – 5,000

Source: 1st June 2006, The Economic Times

(Rates as per sq. ft.)

The city has always been a favorite

destination for people seeking affordable

houses in an upmarket locality. In fact,

the DNA article pointed out that the area

continues to be one of the most

affordable options for entry-level home

buyers but rapid development has now

triggered a phenomenal price rise in

prime locations. With many more

development projects on the planning

board, you can expect real estate prices

to reach dizzying levels here!

“Various development projects are

planned in the satellite city, such as the

airport at Kopra village near Panvel,

Reliance SEZ at Dronagiri, Nerul-

Belapur-Uran rail projects and the

MSRDC Nhava Sheva Sealink project,”

explained Buddhabhushan Gaikwad,

Chief PRO, CIDCO.

Leading Navi Mumbai builders point out

that there’s already an effect on property

rates in neighboring areas. Rates could

rise even further once the projects take

final shape, they said.

When there’s development, there are job

opportunities as well. Highly skilled

people will rush to get well-paid jobs in

the malls, sea link and SEZ under

development. The net result will be

greater demand for housing to

accommodate the new workforce —

which means even more rate escalations!

Some builders estimate that as Reliance

SEZ is expected to generate employment

for five lakh people, at least 20 lakh

people could shift base to Navi Mumbai.

Assuming that at least one per cent of

them buy flats, it clearly spells boom time

for the housing industry.

Similarly, the airport is expected to

attract five star hotels and spas, which

will tremendously enhance the profile of

locations in their vicinity. This lifestyle life

could boost realty rates further. Will all

this enhance living standards too?

Apoorva Shah, a Navi Mumbai resident

thinks so. “After the projects were

More migration

announced, my Mumbai friends have

been enquiring about flat rates. Some

have bought homes here too.”

It’s not just better housing or living

standards; there will be overall

development in the region. For instance,

Rajesh Prajapati, Director, Prajapati

Constructions states that many ancillary

projects will be coming up in Navi

Mumbai. These include the Nerul-

Belapur-Uran rail route which will make

far-off places such as Uran more

accessible. His view is supported by

Devang Trivedi, Managing Director,

Progressive Builders. “Ghansoli and Uran

may not have the best transportation

right now but real estate rates are high

and keep increasing because of the

anticipatory rates these places can

command,” explained Devang.

That established builders with proven

track records are involved has boosted

real estate prices too. Progressive

Builders has been in the construction

field since 1997, focusing on CBD Belapur

and Koparkhairane with landmark

projects such as Progressive Celebrity.

“My father was a construction contractor.

After my MBA, I decided to focus on the

All-round development

Navi Mumbai... (cont'd)

real estate business. I felt I should give

something back to society,” said Devang.

Shubha Iyer, a Vashi resident recently

purchased a plot in Dronagiri. “Navi

Mumbai is developing well. When the

airport was announced, I bought a plot

there and plan to hold on to the land. I

will build a house later and am sure rates

will be very high then.”

Rates have risen in villages such as

Dronagiri, Ulawe, Kalamboli and Nhava.

Lack of infrastructure is no deterrent.

Once these villages are developed, land

prices will hike further.

Raju Gupta, a Vashi-based real estate

consultant, summed up the scenario

thus:“The SEZ project has influenced

rates to a large extent. The current rate

of a plot in these areas is around Rs 30

lakh to Rs 60 lakh an acre.”

So, in a few years, the quiet farmland

fringing this satellite city will be

transformed into a soaring skyline, with

high-tech buildings and every possible

modern luxury. By then, people in this

‘star' city will walk from their high-rise

condominiums to their plush offices!

A timely investment

CIT

Y

FO

CU

S

Mumbai may be bigger and better known

on the global radar but there’s a city by

its side that’s slowly but surely, shaking

off its satellite role to emerge as a star.

Navi Mumbai may be technically a Tier II

city or a ‘satellite’ of Mumbai, but it is now

a land of opportunity. Developed from

marshy land, this ‘parallel city’ is fast

metamorphosing into an independent,

self-contained, well-planned and

modern metro.

Egging on this growth path is the City and

Industrial Development Corporation of

Maharashtra Limited (CIDCO). By

meeting all the infrastructural needs,

CIDCO is making sure that Navi Mumbai

will soon have a tactical and strategic

advantage over Mumbai!

The city is being developed as a series of

nodes, strung along an efficient Mass

Transport System in the form of

commuter Railway Network well

connected to Mumbai-Thane and

adjoining areas. Each node is expected to

be self-sufficient in facilities such as

schools / colleges, hospitals, recreation,

community services, etc. The Indian

Railways also plans a long distance

terminal, close to CBD-Belapur, to meet

the needs of inter-city travel from Navi

Mumbai. CIDCO has also planned a new

railway corridor from Belapur to Uran to

connect with the new port city

of Dronagiri.

There are plans for a domestic airport, an

international convention / exhibition

center with a five star hotel. Also on the

A string of developments

Navi Mumbai – From satellite to star city

anvil are a golf course, a country club, a

technology park and an amusement

park. The proposed Sion-Panvel multi-

lane road project is about to take off. This

project will provide an express entry into

or exit from the city, as it will work as an

extension of the Mumbai-Pune

Expressway up to Sion.

Naturally, all these proposed projects

have caught the eye of astute investors.

As a result, land rates have seen an

appreciation of 10-20 per cent in the past

one year alone, with Nerul, Kharghar,

Panvel areas leading the pack. Places

adjoining Rabale station on the Thane-

Belapur road, which used to be dormant

earlier, are now high on the investors’ list.

This is because of its easy connectivity

and the availability of open land.

Property prices here are naturally

expected to spike soon.

Adding to the attraction is the Dhirubhai

Ambani Knowledge City (DAKC) in

Koparkharaine. The International

Infotech Park in Vashi and the

International Technology Center in

Belapur-CBD have also helped enhance

the city’s image.

The city’s true potential will, however, be

showcased with the proposed Reliance

Special Economic Zone (SEZ) in Navi

Mumbai. Work on the project is slated to

begin this September. An entirely new

city, one-third the size of Navi Mumbai,

will come up on 14,000 hectares of land.

The Rs 25,000 crore price tag is nothing

Investment city

Icing on the cake

compared to the estimated Rs 2,50,000

crore that other developers will invest

into putting up factories, residential

complexes, hospitals, hotels and

shopping malls across the SEZ. This new

cluster is to be completed by the end of

this decade. It will house over a million

people, virtually the same number

currently living in Navi Mumbai!

The Kalomboli zone near the Mumbai-

Pune highway will be used to set up a hub

for food processing and textiles. The

bigger goal is to create an international

financial services center where global

banks, insurance companies and

merchant banks can function just as

though they were in London or New York.

Many of these projects may be in the

pipeline but in reality, they’ve already

contributed to increasing land prices. On

the anvil are a World Trade Center, the

Mumbai University campus, the Panvel

Karjat railway line, the Dhapoli

amusement pa rk , t he second

international airport, the Sewri-Nhava

sea link, and the Jawaharlal Nehru Port

Trust-Goa Express Highway which will cut

the distance to Goa by 215 km.

The construction projects are just the

beginning. Our analysis, supported by a

recent article in DNA, is that Navi Mumbai

is set to be the next boom town – in every

possible way. For instance, there will

soon be an airport, a trans-harbor sea

link, a special economic zone (SEZ) and

over half a dozen mega malls in the area.

The surge has begun

Tip of the iceberg

CIT

Y

FO

CU

S


BELT 2006 2011 2016 2021

South Mumbai 8,000/- 18,000/- 27,000/- 29,000/-

Western Suburbs 3,800/- 7,700/- 8,900/- 9,200/-

Eastern Suburbs 3,000/- 5,600/- 7,300/- 9,200/-

Navi Mumbai 1,800/- 4,000/- 14,000/- 17,000/-

Uran 750/- 1,400/- 7,000/- 9,400/-

Kalyan Dombivili 1,100/- 1,550/- 2,000/- 2,200/-

A study predicts that in a decade, Navi Mumbai will overtake the suburbs to become the second-most

expensive residential location.

Source: 14 June 2006, Midday,

Vashi 6,000

Sanpada 10,000

Koparkhairane 3,000 – 5,000

Airoli 4,000 – 8,000

Ghansoli 3,000 – 5,000

CBD Belapur 2,000 – 2,500

Kharghar 2,500 – 5,000

Source: 1st June 2006, The Economic Times

(Rates as per sq. ft.)

The city has always been a favorite

destination for people seeking affordable

houses in an upmarket locality. In fact,

the DNA article pointed out that the area

continues to be one of the most

affordable options for entry-level home

buyers but rapid development has now

triggered a phenomenal price rise in

prime locations. With many more

development projects on the planning

board, you can expect real estate prices

to reach dizzying levels here!

“Various development projects are

planned in the satellite city, such as the

airport at Kopra village near Panvel,

Reliance SEZ at Dronagiri, Nerul-

Belapur-Uran rail projects and the

MSRDC Nhava Sheva Sealink project,”

explained Buddhabhushan Gaikwad,

Chief PRO, CIDCO.

Leading Navi Mumbai builders point out

that there’s already an effect on property

rates in neighboring areas. Rates could

rise even further once the projects take

final shape, they said.

When there’s development, there are job

opportunities as well. Highly skilled

people will rush to get well-paid jobs in

the malls, sea link and SEZ under

development. The net result will be

greater demand for housing to

accommodate the new workforce —

which means even more rate escalations!

Some builders estimate that as Reliance

SEZ is expected to generate employment

for five lakh people, at least 20 lakh

people could shift base to Navi Mumbai.

Assuming that at least one per cent of

them buy flats, it clearly spells boom time

for the housing industry.

Similarly, the airport is expected to

attract five star hotels and spas, which

will tremendously enhance the profile of

locations in their vicinity. This lifestyle life

could boost realty rates further. Will all

this enhance living standards too?

Apoorva Shah, a Navi Mumbai resident

thinks so. “After the projects were

More migration

announced, my Mumbai friends have

been enquiring about flat rates. Some

have bought homes here too.”

It’s not just better housing or living

standards; there will be overall

development in the region. For instance,

Rajesh Prajapati, Director, Prajapati

Constructions states that many ancillary

projects will be coming up in Navi

Mumbai. These include the Nerul-

Belapur-Uran rail route which will make

far-off places such as Uran more

accessible. His view is supported by

Devang Trivedi, Managing Director,

Progressive Builders. “Ghansoli and Uran

may not have the best transportation

right now but real estate rates are high

and keep increasing because of the

anticipatory rates these places can

command,” explained Devang.

That established builders with proven

track records are involved has boosted

real estate prices too. Progressive

Builders has been in the construction

field since 1997, focusing on CBD Belapur

and Koparkhairane with landmark

projects such as Progressive Celebrity.

“My father was a construction contractor.

After my MBA, I decided to focus on the

All-round development

Navi Mumbai... (cont'd)

real estate business. I felt I should give

something back to society,” said Devang.

Shubha Iyer, a Vashi resident recently

purchased a plot in Dronagiri. “Navi

Mumbai is developing well. When the

airport was announced, I bought a plot

there and plan to hold on to the land. I

will build a house later and am sure rates

will be very high then.”

Rates have risen in villages such as

Dronagiri, Ulawe, Kalamboli and Nhava.

Lack of infrastructure is no deterrent.

Once these villages are developed, land

prices will hike further.

Raju Gupta, a Vashi-based real estate

consultant, summed up the scenario

thus:“The SEZ project has influenced

rates to a large extent. The current rate

of a plot in these areas is around Rs 30

lakh to Rs 60 lakh an acre.”

So, in a few years, the quiet farmland

fringing this satellite city will be

transformed into a soaring skyline, with

high-tech buildings and every possible

modern luxury. By then, people in this

‘star' city will walk from their high-rise

condominiums to their plush offices!

A timely investment

CIT

Y

FO

CU

S

THE EXPAT BUZZ...Property News et al

August 2006

Issue 1

.3

Bridging theeast-west dividePage 3

Mumbai Metro updatePage 4

The Navi Mumbai storyPage 10

As we predicted in our previous issue, the boom in real estate shows no signs of slowing down. But is it all a

bubble? Recently, a publication articulated this concern by asking: “How real is this realty show?” Now, adding

fuel to this melting pot is the SEZ (Special Economic Zone) factor. Our cover story gives you a holistic take on

the 'Zone effect' and the prime players, based on articles from the Times of India, Economic Times, Financial

Express, Business Standard and Businessworld. We also give you the latest on the SEZ policy front.

As you know, the growth in the sector

began with the government’s decision to

open up investment – through 100 per

cent FDI (Foreign Direct Investment),

permitting Venture Capital funds to

deploy money in real estate, selling off

sick mill lands and so on.

However, the move to set up

SEZs across the country

could be the biggest growth

trigger of them all. SEZs

could potentially transform

the structure of the real

estate industry as we now

know it.

The SEZ (Special Economic

Zone) Act, 2005, has been in

force from February 10,

2006. It aims to simplify

procedures for setting up

units and treats the service

sector on par with the

manufacturing sector. SEZs

are governed by a special set

of rules to allow easy FDI flow

for export-oriented production. SEZs are

free trade zones outside the supervision

of customs authorities. These zones have

minimum bureaucracy, premium

infrastructure, generous tax holidays and

unlimited duty free imports of raw,

intermediate and final goods as well as

capital goods.

Units under SEZs enjoy various fiscal and

non-fiscal benefits such as duty free

imports, tax breaks (exemption of

income tax, central sales tax, service tax

and excise duty on inputs), single

window clearances, etc. Naturally, these

value-adds have attracted the attention

of companies from sectors including the

information technology, pharmaceutical,

textile, petrochemical and auto ancillary

areas. Biggies that have already

announced mega plans include Reliance

Industries, Bajaj Auto, Mahindra &

Mahindra, Tata Consultancy Services,

Wipro and Ranbaxy. Reliance Industries

is reportedly investing considerable

amounts into SEZs in Navi Mumbai and

more importantly, in Gurgaon (Haryana)

which, incidentally, is expected to be the

country’s largest SEZ.

Therefore, the SEZ initiative

could be a vital catalyst for

the long term prospects of

the Indian real estate

market. A total investment of

Rs 1 lakh crore is envisaged

in SEZs over the next three

years. In addition, these

projects can potentially

create over five lakh jobs,

quite apart from the indirect

employment that will be

generated from the actual

construction of these zones.

So, we can confidently assert

that SEZs will trigger a sharp

i n c rease i n economic

activities in and around the

prospective areas. As real estate prices

are directly co-related to the economic

activity in the region, we could even

witness another boom, which, in turn,

means that properties in and around

SEZs could be potential goldmines and

promising long term investments!

meeting you at your point of need….

Expat Properties (I) Ltd. provides a comprehensive range of real estate-related services in India and the Middle East, which include…

n Retail – Purchase, sale and letting of residential properties.

n Land Trade – Handling, sale and purchase of land for customers,

with value additions such as location analysis, feasibility

reports, legal documents, etc.

n Contracting – Project management and civil infrastructure

development.

n Investment Portfolio – Counseling our clients on the real estate

investment market and guiding them in processes that

benefit them.

Dubai

P.O. Box 181681, Dubai

U.A.E. Al Mulla Building

2nd Floor, Office 207

(Opp. Sheraton Deira),

Deira – Dubai

Tel: (+ 9714) 2973932

Fax: (+ 9714) 2974345


Mumbai

56 Hill Road, 1st Floor

Bank of India Building, Bandra (W)

Mumbai - 400 050

Tel: (+9122) 6677 1381/ 82/ 83

Fax: (+9122) 6677 1384


Pune

No. 32, Bandal Dhankhude Plaza

2nd Floor, Paud Road

Bhusari Colony, Kothrud

Pune – 411 038

Tel: (+9120) 2528 5611/

(+9120) 2528 5612/ 13

Fax: (+9180) 25285615


Bangalore

No. 406, 4th floor

House of Lords, St. Mark's Road

Bangalore – 560 001

Tel: (+9180) 41329132/ 33,

(+9180) 22109732/ 33/ 34/ 35

Fax: (+9180) 4132 9135


Goa

21/1, Alberto House

Opp. Lapaz Hotel, Swatantra Path

Vasco da Gama

Goa – 403 802

Tel: (+ 91832) 5652278/79


Chennai

No.4D, 4th Floor

Anugraha Apartment (Old No. 19)

41 Nungambakkam, High Road

Chennai – 600 034.

Tel: (+ 9144) – 4213 2923

Contact us

Cont'd on page 5

All the buzz on the

SEZ SCENE

How SEZs are adding more sizzle to the real estate market

For more information, visit our website: www.expatpropertiesgroup.com

Documents

THE EXPAT BUZZ August 2006 - Expat Properties · sick mill lands and so on. ... units and treats the service sector on par with the ... Navi Mumbai... the . EXPAT BUZZ August 2006