‘RBI likely to cut rates in 2016; this has potential to lower EMI burden of home buyers’: Niranjan Hiranandani
MUMBAI, 27 JANUARY, 2016: As real estate looks forward to the upcoming Union Budget, the scenario in Mumbai and the Mumbai Metropolitan Region (MMR) remains one of optimism. As we come to end-January 2016, real estate in Mumbai and the MMR as also across Maharashtra has witnessed rising sales and positive sentiments from buyers. So, can it be surmised that 2016 holds positivity for real estate? “Logically speaking, trends suggest that 2016 will definitely see better days ahead for real estate,” said Niranjan Hiranandani, Managing Director, Hiranandani Communities.
The Reserve Bank of India (RBI)’s rate cuts during the monetary policy reviews across 2015 were among the major factors that helped create the positive scenario in 2015. For some, it was a surprise that the RBI Governor Raghuram Rajan maintained ‘status quo’ during the Fifth bimonthly monetary policy review, 2015-16 on 01 December, 2015. The multiple rate cuts initiated by the RBI through the year provided some relief to the economy and the real estate sector, and so there was an expectation that he would end the year with another rate cut. Why this did not happen is simple: it is taking some more time for the ‘rate cut’ announcements by the RBI to reflect at the ‘ground level’, said Niranjan Hiranandani. The impact of rate cuts over the year have resulted in stability and improvement in market sentiments in real estate, but the RBI Governor expects banks to do more, and pass on the entire rate cut to home buyers. This happening, in the next fiscal policy review, the expectation is that the RBI will continue to monitor the situation and make necessary adjustments which will boost the economy, he added.
With the RBI being aware that less than half the 125 bps rate reduction this year has been passed onto customers by banks, the RBI Governor has been mentioning the need for banks to ‘do the needful’, and the RBI remains in a ‘wait and watch’ mode – which is why the last monetary policy review in 2015 did not witness any rate cuts. “Another perspective is that RBI Governor, might not have wished to dampen the euphoria of substantial rate cut with a symbolic cut in the last month of 2015. So, any further rate cuts will happen after the RBI Governor sees banks passing on benefits to home loan takers,” added Niranjan Hiranandani.
Market trends suggest that a major interest rate cut with potential to increase sales of residential real estate may be on the cards in 2016. This will definitely have the potential to boost off-take of residential real estate in 2016, said Niranjan Hiranandani. “If this does happen, 2016 may witness the sort of rate cut which would result in real change, effectively lowering the EMI burden of homebuyers. The RBI Governor has already put subtle pressure on the banks to pass the benefits of previous rate cut onto homebuyers, and this happening, things will be set for a ‘major rate cut’ in 2016 – which will make 2016 truly, a ‘Happy New Year’,” he concluded.
‘Onset of harvest festive to mark the beginning of upward movement in realty markets’: Niranjan Hiranandani
MUMBAI, 21 JANUARY, 2015: As the festival of Makar Sankranti, Pongal and baisakhi sees festive spirits soar high in the sky, real estate in Mumbai and the Mumbai Metropolitan Region (MMR) seems all set to start upward movement, be in in the parameter of sales or price points, pushed upwards by increasing demand. “The festival of Makar Sankranti should mark the beginning of upward movement in realty markets,” said Niranjan Hiranandani, MD, Hiranandani Communities.
Real estate, as an industry, witness’s business cycles, and market indications are that post the festival of Makar Sankranti, the industry is at the end of the slow-down cycle. The real estate industry has witnessed a wave of positive sentiments in the last year, which became even sharper during the festive season especially, Dassera and Diwali. A major role in the positive sentiments growing in 2016 will be the real estate regulation amendments; I foresee credibility and positivity that it will result in creating will build up confidence in the minds of home seekers. In fact, as a result of transparency that the regulation will result in, across segments of real estate, I visualize leasing and buying activity increasing in 2016.
For real estate growth in Mumbai and the MMR, a major role will be played by infrastructure development; most of the projects seem to point at the Navi Mumbai – Panvel region making significant gains as a result of the major infrastructure projects for which clearances or granting of pending permissions have been announced. Road-Rail-Air-Sea, projects on all four means of transport are on the ‘fast track’ and will have a positive impact, be it the trans-harbour sealink, the Navi Mumbai airport, the railway terminus at Panvel, the upgrading of the Sion-Panvel expressway or even the expansion at JNPT - there is a lot of positive sentiment growing about commercial real estate in the Navi Mumbai - Panvel region. The Trans-Harbour Sealink will bring Panvel and its neighbouring areas closer to South Mumbai, making the ideal location for work spaces, back-end offices as also spaces for BFSI, IT and ITeS sectors, as also corporate relocating and consolidating office spaces.
Panvel has the advantage of being central to the ‘golden triangle of possibilities’ – comprising the three locations of Panvel, Vashi and Alibaug. Vashi being a growing business hub and Alibaug, a popular tourist attraction, with Panvel getting infrastructure-ready in the near future, this golden triangle will offers a plethora of opportunities for business as well as leisure. I foresee the growing positive sentiment about commercial real estate in the Panvel region getting further enhanced in 2016, given that the Trans-Harbour Sealink will bring Panvel and its neighbouring areas closer to South Mumbai. This will make Panvel the ideal location for work spaces, back-end offices as also spaces for BFSI, IT and ITeS sectors – not to forget corporate relocating and consolidating office spaces.
Located just right within the Panvel region, Hiranandani Fortune City, Panvel is a mixed–use integrated township development, which includes the signature commercial real estate option, Hiranandani Business Park. What makes this ambitious dream project ideal for corporate consolidation and relocation are the location and the project specifications, which are a class apart.
Hiranandani Business Park @ Hiranandani Fortune City, Panvel has the advantage of being located mid-way between two important IT hubs of the nation. Its energy efficient buildings will conform to LEED Green Building design principles, which will deliver to end-users the Hiranandani Communities’ commitment to high quality standards and cutting edge advantages.
The work space options will be best suited to the new age Indian, one who has a global perspective and aspires to work and live a truly global life in a real estate location with fantastic growth potential. Gardens, play areas, entertainment clusters which will include exclusive cafés, convenience stores and health centres within the project will offer a stress-busting environment for those who will work and reside in HiranandaniFortune City, Panvel - truly, the location of the future.
Niranjan Hiranandani is Founder & MD, Hiranandani Group. His recent initiative is HiranandaniCommunities. He is the Founder and First President (West), National Real Estate Development Council (NAREDCO), which works under the aegis of Ministry of Housing & Urban Poverty Alleviation, Government of India.
MUMBAI, 20 JANUARY, 2016: The best way to remember the good work done by a loved doctor is to institute an award in his memory – and if the first such award is conferred on another doctor, who is also renowned for his good work, it would seem to be the best way of going about such a noble task.
The event where this award was conferred, the Dr L H Hiranandani Oration, was held at the K C College, Mumbai on 20 January 2016. The highlight of the event was presentation of the Padma Bhushan Dr L H Hiranandani Award to Dr Suresh H Advani at the hands of Shri CH Vidyasagar Rao, Hon’ble Governor of Maharashtra.
Smt Pratibha Devsingh Patil, Hon’ble former President of India presided over the function.
In his acceptance speech, Dr Suresh Advani said he felt honored to be the first recipient of the award instituted in the name of Dr LH Hiranandani. He spoke of the pride he felt at being recognized for his work and contribution in facing up to the most painful disease, Cancer. He thanked the jury for having considered him worthy of the honor.
Earlier, in his welcome address, Niranjan Hiranandani, MD, Hiranandani Group of Companies said every person required a mentor. “I too had a mentor who I now miss – my father,” he said. He stressed on the need for mentoring ideas to drive grass-root level issues of the state towards excellence. Going further from the aspect of mentoring, he praised the Hon’ble Governor, for his leadership qualities, at the state level as also at the national level. Mr Niranjan Hiranandani requested the Hon’ble Governor to provide the direction which would enhance the education system as also impact lives of people in the state.
Thanking the Hon’ble Former President of India Smt Pratibha Devsingh Patil for presiding over the function, Niranjan Hiranandani said he was touched and honored by her presence. In a reference to her having been President of India, Niranjan Hiranandani spoke about how she had been at the pinnacle of authority of the country. Describing her as a leader who was always in touch with ground reality, he recalled how she had never lost an election.
Speaking about his illustrious father, Niranjan Hiranandani said his legacy was in form of the schools and colleges which he helped set-up and run. He concluded by saying that one should strive to live life to the fullest,like his father had.
Shri CH Vidyasagar Rao, Hon’ble Governor of Maharashtra Governor expressed his appreciation at the tribute which Niranjan Hiranandani had given to his mentor cum father, adding that the award effectively gave ‘eternal life’ to his contribution in the field of ENT. “Dr L H Hiranandani hard work placed India at a global level, given his excellence in ENT treatment,” he said. He also expressed his happiness at the jury having selected a deserving person in the form of Dr Suresh Advani, for his remarkable contribution in the field of cancer treatment.
The Hon’ble Governor said there was a need to focus on excellence in educational system, to ensure that India offered the best educational institutes, which would offer both: innovation and technology. Such institutions have the potential to strive and establish India as having one of the best educational set-ups across the globe, he concluded.
Winter Light Fiesta underscores festive spirit at Hiranandani Gardens, Powai with the glow of a thousand-plus decorative lights
MUMBAI 05 JANUARY 2016: As Christmas gave way to the New Year, Mumbai witnessed a beautiful event, ‘Winter Light Fiesta’ which lit up the festive spirit in Mumbai’s premier integrated township, Hiranandani Gardens, Powai. Major hotspots of the township, including streets, trees, some buildings and junctions were illuminated with colourful led lights series and candils on walls, buildings, trees, streets, garden areas and more. The decorated trees shone a bit ‘extra’, the light-up bringing smiles and glitters of joy to those who viewed it.
“It is a global phenomena, the world-over cities like Paris, New York and Dubai reflect the festive spirit of the period from Christmas to the New Year through a light-up, which is usually in a central location. Within Mumbai, instead of just looking at a single monument for the light-up, we thought the perfect option would be lighting up the entire township with a festive glow,” said Niranjan Hiranandani, MD, Hiranandani Group.
Mumbai’s neo-classical architectural marvel, Hiranandani Gardens, Powai, reflected the glow of a thousand-plus twinkling lights. An initiative by the Hiranandani Group, the Winter Lights Fiesta was conceptualized as an ideal way to share the festive spirit, and the festive light-up reflected the glow of happiness and joy. The light-up also served to underscore the features of the township: intelligently planned, crafted with precision and embellished with care. The Winter Light Fiesta at Hiranandani Gardens gave rise to a new perception of life and life-style.
For many Mumbai citizens who made it to Powai, a stroll through Hiranandani Gardens late evening onwards made for a beautiful experience. For those who clicked visuals of the Winter Light Fiesta, the festivities continue – from all those who have posted the visuals they have clicked on the Face Book page of Hiranandani Developers with #WinterlightsAtHiranandani, one lucky person will win a Moto G Turbo and some cool gift vouchers. How that for a truly Happy New Year?
The Winter Light Fiesta dazzled the Powai skyline with a vibrant, celebratory makeover that showcased the Hiranandani Gardens in a festive glow, the result of the light-up. The integrated township which was lit-up with festivity is strategically located opposite the serene Powai Lake, something which the twinkling lights underlined. Hiranandani Gardens is a location where more than 4000 families stay. Sprawled majestically over 250 acres, Hiranandani Gardens is Mumbai’s finest residential township that has redefined the standards of elegant living, and during the Winter Light Fiesta, the festive light-up reflected the glow of happiness and joy.
Niranjan Hiranandani, MD, Hiranandani Group said the philosophy of Hiranandani Group has been creation of global lifestyles within a community of residents. “Celebration is an integral part of life, as indeed, of community living. In this festive light up, what we expressed is festive greetings not just to residents of Hiranandani Gardens but to the entire city, to the people who have been visiting the Hiranandani Gardens over the period of the Winter Light Fiesta just to enjoy the beauty of the light-up. Effectively, the light-up has brought the city’s residents together to celebrate the new year,” he concluded.