18 November 2019

Table of Contents for Ticker Tape





Ticker Tape - Construction

Sumadhura launches residential project in H’bad

 

Sumadhura Group has launched its premium residential project, ‘Sumadhura Horizon’ close to the IT hub of Kondapur in Hyderabad.

 

The Rs. 300 crore high-rise luxury project is located in a 5.04 acre site, offers 72 % open space and 486 well-designed units with 2, 3 and 3.5 BHK configurations across 4 towers. The apartment size ranges from 1325 sqft to 2710 sqft.

 

Over 150 booked during first day of pre-launch. This project comes on back of another Rs.300 crore residential project ‘Sumadhura Acropolis’ launched in 2016 in Gachibowli, scheduled for completion by December 2019. The project, located in the IT hub, offers an array of amenities and is well-connected.

 

 

 

India joins global smart city alliance

 

India has joined the league of 15 of world's leading city networks and technology governance organisations that will work towards fostering responsible and ethical use of smart city technologies.

 

The G20 Global Smart Cities Alliance on Technology Governance will create global norms and policy standards for the use of connected devices in public spaces, according to the World Economic Forum (WEF), according to a recent press release.

 

The Global Smart Cities Alliance's founding set of institutional partners include presidents and host nations of the Group of 20 (G20) in 2019 and 2020; Japan and Kingdom of Saudi Arabia; Smart City Mission of India; Cities for All; Cities Today Institute; Commonwealth Local Government Forum; Commonwealth Sustainable Cities Network, among others.

 

Smart city technologies can help decrease traffic congestion, combat crime, improve resilience during natural disasters and reduce greenhouse emissions. Without proper governance, these technologies pose significant risk, notably to privacy and security, WEF underlined. India is at the forefront of this urban transformation and is committed to ensuring that its cities develop in a way that is smart and sustainable. The Smart Cities Mission looks forward to working together with city leaders around the world to share best practices and forge new policy standards for the responsible and ethical use of smart technologies in Indian cities.

 

Established in June 2019, in conjunction with the G20 Summit in Osaka, Japan, the Alliance comprises 15 of the world's leading city networks and technology governance organisations. The partners represent over 2,00,000 cities and local governments, leading companies, start-ups, research institutions, and civil society organisations. The WEF serves as the secretariat.

 

The new global policy standards for privacy, security and sustainability of smart technologies will be rolled out in advance of 2020 G20 Summit in Riyadh, Saudi Arabia. The first policy design workshops with city leaders will be held in November 2019 in conjunction with the Smart City Expo World Congress in Barcelona, Spain.

 

 

 

India aims 10 bn sqft green footprint of 2022

 

India has crossed the magical 7 billion sqft of green building footprint and is now aiming at going past the 10 billion sqft (100 crore sqft) by the year 2022, when India would be celebrating its 75th year of Independence. In achieving this landmark of 10 billion sqft, it will potentially displace US and China to take pole position, according to the Indian Green Building Council. India has over 5400 green building projects, amounting to 7 billion sqft of space in about 18 years, so India is all set to top the Green League with a huge green building cover by 2022.

 

The transition to greener and energy efficient buildings is facilitated by 25 IGBC Green Rating Systems covering buildings, both residential and commercial and other housing projects including affordable homes. IGBC has thus far rated more than 800 green projects products, covering more than 70 per cent of buildings and it expects to cross 1000 product mark within couple of years.

 

The spread of green footprint of 7 billion sqft covers 1.4 million green homes covering 1.9 billion sqft, over 250 Green factories, 1,800 green offices, 48 green townships, 12 green cities, 24 green villages. In going green, these have contributed to energy savings of 15,000 MW of energy per million sqft per annum, reduced Co2 emissions by 12,000 tonnes per million sqft per annum, brought about water savings of 45,0000 kilo litres of water per million sqft and diverted 400 tins of construction waste from landfill every year.

 

As more and more buildings go green, the efforts of IGBC have demonstrated that 30-40 per cent of energy cost and 20-30 per cent on water could be saved. And all the products that have been certified as Greenpro, they have been indigenised and designed to address national priorities.

 

 

Kamdhenu Ltd adds new production capacity

 

Kamdhenu Ltd has added new production capacity of 60,000 tonne per annum in Dadri, Uttar Pradesh to manufacture Kamdhenu Structural Steel. The company undertook the new capacity expansion through its franchise partner.

 

The capacity addition follows robust demand for Kamdhenu Structural Steel, its key infrastrucre steel product, in western UP and adjoining areas like, Delhi and Haryana, given the strong real estate and infrastructure development in the region.

 

 

 

Prestige Group JV with DB Realty

 

Realty developers Prestige Group and DB Realty have entered into a joint venture to develop a hospitality-led mixed use project spread over 7.7 acre land parcel in Delhi’s Aerocity. Prestige Group is planning to build India’s largest hotel and convention centre on the said land parcel.

 

The 50:50 joint venture will develop total 2 million sq ft project with total 932 hotel rooms, 6.45 lakh sq ft office space apart from a 2 lakh sq ft convention centre. The deal marks Bangalore-based Prestige Estates Projects’ entry into the Delhi market.

 

Total project cost is estimated to be around Rs. 2,000 crore, which is the balance required to complete the project and Prestige will bring in Rs. 355 crores for 50% equity stake in this joint venture.

 

Prestige Group has entered into this joint venture Prestige Hospitality Ventures Ltd (PHVL), a wholly owned subsidiary of Prestige Estates Projects and Bamboo Hotel and Global Centre (Delhi) Private Ltd. As part of the deal, Prestige will also take over the project’s existing Yes Bank loan. The project has been stalled for 7 years now and is one of the biggest commercial developments in Delhi’s Aerocity.

 

Mumbai-based realty developer DB Realty had acquired the development rights on this 7.7 acre land parcel in 2009 from Delhi International Airport Limited (DIAL). The excavation work on the project land has been completed and the project is estimated to be completed by 2022. Currently Prestige Group has 8 operating luxury hotels with 1,262 keys and 297 keys under construction. The addition of this new asset with 932 keys will further strengthen the group’s hospitality business, making its portfolio grow to 2,491 keys.

 

 

Johnson sets up Rs.125 cr unit

 

Johnson Lifts, a manufacturer of elevators and escalators, has set up a new unit at Sengadu, to produce 6,000 lifts per annum. With this unit, the company will have four plants in India that can collectively make 18,000 lifts and 1,500 escalators a year.

 

It has also expanded its Oragadam unit with an additional line for heavy duty escalators at a cost of Rs. 13 crore to produce 500 escalators per annum. The first line has a capacity to produce 600 commercial escalators per annum. Johnson is aiming at a sales turnover of Rs. 3,000 crore for FY20 compared with Rs. 2,000 crore for FY19. It sees opportunities in government schemes, affordable housing and smart cities, upgradation of railway stations, airports, infrastructure projects and leveraging tier-II and tier-III cities and north eastern states to achieve its sales target. Johnson has orders from Chennai Metro Rail Phase-1 Extension work for Rs. 33 crore, Mumbai Metro for Rs. 247 crore and Central and Western Railways for Rs. 197 crore. Currently, Johnson Lifts caters to 70% of residential needs and 30% commercial. There is also a huge demand for ‘bungalow lifts.

 

 

Siddha Group Launches Mumbai's First Rooftop Skywalk

 

Siddha Group recently  announced the launch of their second project in Mumbai, Siddha Sky (a Sejal-Siddha project), city's first Rooftop Skywalk in Wadala. A first for the Indian real estate sector, it will be located next to GTB Monorail Station, and will offer elegantly designed 2, 3 & 4 BHK apartments, spread across 4 towers, with Rooftop skywalk as well as a Residents' Club hosting all modern amenities. Siddha Sky will also have 36,000+ sqft of Retail Spaces christened 'Siddha Magna' for various brands to set up their outlets.

 

 

Govt to set up dedicated unit to monitor PMAY

 

The Housing and Urban Affairs Ministry is planning to set up a dedicated unit to monitor the implementation of the Pradhan Mantri Awas Yojana (Urban) under the flagship Housing for All by 2022 scheme. As per the request for proposal (RFQ) floated by the Ministry, the Programme Management Unit (PMU) will provide focused support for the PMAY (U).

 

The government has proposed to set up the PMU by April 2020 and it will operate till 2022. As per the RFP, the average annual financial turnover of participating firms in the last three consecutive fiscals should not be less than Rs. 9 crore.

 

The PMU would operate under the overall supervision and guidance of the Joint Secretary and the Mission Director of the Housing for All Division. It is proposed to be set up for two years, which may be extended up to one year, the document said. Under PMAY (U), the government has set a target of constructing around 1.12 crore houses in urban areas by 2022.

 

According to PMAY (U) website, 88.19 lakh houses have so far been sanctioned, 52.32 lakh houses are under construction and 24.16 lakh houses have been handed over to beneficiaries. Under the Urban division of the Pradhan Mantri Awas Yojana (PMAY), 24 lakh houses have so far been handed over to beneficiaries and the number will soon reach 50 lakh. There are 48 lakh houses under construction, but this number will also rise to 75 lakh, Puri stated.

 

 

 

Corporate tax rate cut to spur demand

 

With the government slashing corporate tax rate to 25.17 per cent,  the move is expected to have a positive impact on real estate and is likely to push demand for warehousing and commercial real estate.

 

Reduction in corporate taxes is expected to bolster growth of industrial real estate development in the country and is likely to promote affordable housing. It would specifically support developers operating in special economic zones (SEZ). The real estate sector has been demanding the removal of MAT for SEZ developers.

 




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