MUMBAI, JANUARY 23, 2015: Does a reduction of 25 bps make a major difference to a home buyer? Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL) feels it makes for a ‘good beginning’. “If this reduction in the repo rates on the auspicious occasion of Makar Sankranti is seen as a curtain raiser to similar positive decisions in days to come, it definitely makes a difference,” said the MD, HCPL.
“At one level, it certainly was positive in the context of ‘buyer sentiment’, these positives have been recorded in form of increased serious enquiries at site offices of on-going projects across the country. There is a positive vibe in real estate, especially in the residential segment. The aspect of the reduction having come as a complete surprise on the festive day of Makar Sankranti made it even better in terms of having a positive impact on home seekers.
It needs to be seen in perspective of the June – Dec 2014 period having been one where India had a new government at the Centre, and expectations were high. While real estate industry grappled with high cost of labour and raw material costs, it was expecting some move to reduce the burden on home buyers as also the industry. In December, we expected something positive from the RBI, which did not happen. said Niranjan Hiranandani. “In such a scenario, the RBI’s decision of reducing the repo rate by 25 bps in January 2015, which impacts home loan interest rates in form of a reduction, will be a respite for home seekers as also other stakeholders in real estate,” he said. On the aspect of 25 bps being a bit on the lower side, Niranjan Hiranandani said he saw this move as just the beginning. “Real estate developers and stakeholders can expect some more positive decisions from the RBI, which would boost the growth rate of the sector in days to come,” added the MD, HCPL.
“If in its next policy review in Feb 2015, the RBI comes up with moves that further reduces the home loan interest rates, the impact would be positive. In the present scenario in real estate, which some of my friends describe as a ‘low sentiment market’, even the minor change in the interest rates in home loans has been positive, definitely in terms of the sentiment. The sales which will happen, in turn, will translate into enhanced liquidity for real estate developers – and for the economy, a positive, given that real estate is among the major contributors to the GDP,” said Niranjan Hiranandani.
“The RBI's next policy review is in early February, and like most stake holders in real estate, I too expect the RBI to positively consider moves that would make cheaper home loans a reality - low interest rates on home loans can give a positive boost to real estate,” he said.
“Home seekers are definitely looking to moves from RBI in Feb, that will result in home loan interest rate cuts”, concluded Niranjan Hiranandani.
KEY WORDS: RBI, policy review, real estate industry, Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd, HCPL, home loans
Starbucks on Hiranandani Complex's central avenue but there are few suits from the nearby corporate offices here.
Instead, young men in t-shirts and shorts - and the odd woman - have taken over the cafes, pubs, and restaurants of Powai in what is the most visible sign of the start-up hub that's emerging in this neighbourhood. They cram into the coffee-shop corners that have power sockets and hunch over their laptops in groups of three and four, the tables littered with coffee mugs and the odd Java chip cookie. Words like "leverage" and "scalable concept" float in the cappuccino-infused air.
For the past decade, Powai has been dominated by young families and mid-level executives drawn by the upscale Hiranandani Complex and the emerging business district. But in the past few years, a new demographic of IT and e-commerce entrepreneurs in their twenties or early thirties have also begun making the suburb their home and office. And for some older residents, their presence is infusing a new energy into the area.
"They've made the neighbourhood so much more vibrant," says research scientist at Colgate-Palmolive India, Madhumita Dasgupta, 45, who has lived near Hiranandani all her life. "You see them everywhere. They live, work, socialise here. There's no need to travel anywhere else."
The start-up hub was nurtured in part by IIT Bombay, which feeds it both graduate entrepreneurs and business support through the incubator cell at its Society for Innovation and Entrepreneurship (SINE). But the fact that Powai is something of a self-contained township - and adjacent Kanjurmarg and Chandivli are both proximate and cheap - has been critical in attracting a youthful industry known globally for its antipathy to suits and commutes.
Start-ups cluster in business complexes like the cavernous Powai Plaza, which was populated by real estate brokers and shops just a few years ago, or the swanky Supreme Business Park. These complexes are a ten-minute walk from Starbucks, Aromas and Le Pain Quotidien, the most popular venues for brainstorming mee8tings or investor pitches that go on until late. Homes are close too: workers share apartments outside the expensive Hiranandani area. Three-bedroom flats - usually the hardest to rent out - are suddenly in demand. Says Rahul Khar, vice-president, sales at 99acres.com, "For Powai, this year is going to be the year of the 3BHK."
Those looking to be economical rent homes in Chandivli, Kanjurmarg or Vikhroli, a short auto or bike ride away. "Everything is available within a 2km radius," says Advitiya Sharma, the co-founder of the popular Housing.com. He walks to his office at Supreme Business Park every day. "Your twenties are the most productive time of your lives," he says. "None of us want to waste them in commuting."
Proximity is important in other ways. With teams from different companies frequently crossing paths at work and play, an informal network has emerged. Delivery contacts are swapped and services might be outsourced to the start-up next door. "When we had to build our first website for the business, we worked with a start-up right in this building that did web services," says Vineeta Singh, co-founder of Fab Bag, an e-commerce venture that deals with beauty products and is located in Powai Plaza. "For all our printing, we used Printstop in the same building."
Singh, who is from IIM Ahmedabad, is one of the few women entrepreneurs in this start-up space and Fab Bag is one of the few companies with several female employees. Even when the team works past midnight, as all start-ups here frequently do, home is a five-minute car, auto or scooter ride away (few feel the need to use Ola Cabs, the app-based cab service that was founded in Powai). The gated township quality of the Hiranandani area feels safe, she says. "Hiranandani has its local security."
Fab Bag's office will soon move to Boomerang, a complex in Chandivli. Powai's start-hub is expanding to surrounding areas including Vikhroli and Kanjurmarg. While new start-ups are looking for more affordable spaces, the already successful ones are moving because they need more space. In Powai Plaza, says Fab Bag co-founder Kaushik Mukherjee, "there are days when we feel like moving all the chairs outside."
After expanding rapidly over the past few years, the Powai market has now reached maturity, says Ashutosh Limaye, research head at real estate services firm Jones Lang LaSalle. Most new projects are now clustering in Saki-Vihar Road, Vikhroli or Kanjurmarg, where a 1BHK or 2BHK flat rents for Rs 10-15,000 less. "Powai's periphery is poised to transform still further because of the spill-over effect," says Limaye. "Kanjurmarg, Vikhroli, Saki-Vihar Road, Chandivli-these are the places that we should now be keeping an eye on."
Key Words – Hiranandani group, Start-Up Hub, Starbucks, Powai, Madhumita Dasgupta, Hiranandani Complex, Hiranandani Powai techies, Start-ups at Hiranandani Powai,
MUMBAI, JANUARY 15, 2015: The Reserve Bank of India’s (RBI’s) decision to cut the repo rate by 25 basis points came as a sweet surprise on the auspicious occasion of Makar Sankranti, said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL). “While the RBI decision on a cut in the repo rate, which will have an impact on interest rates was expected, the timing was a pleasant surprise,” he added. It was hardly some days ago, in December 2014, that hopes of a rate cut had been belied – despite inflation figures having dropped. The expectation was that during the next review in February 2015, there could be a positive move from the RBI – but this was a pleasant surprise,” added Niranjan Hiranandani.
It needs to be seen in perspective of the past few months having been a period where property prices and raw material cost have both been on the upward move, said Niranjan Hiranandani. “In such a scenario, s been rising sharply, the RBI’s decision which will impact interest rates in form of reduction will be a respite for home seekers as also other stakeholders in real estate,” he said. On the aspect of 25 bps being a bit on the lower side, Niranjan Hiranandani said that he saw the present move as just the beginning. “Real estate developers and stakeholders can expect some more positive decisions from the RBI, which would boost the growth rate of the sector in the coming days,” added the MD, HCPL.
“This is a step in the right direction, and augurs well for real estate. While this will definitely be a ‘positive’ for the real estate sector, we also look forward to other ‘positive moves’ in 2015," concluded Niranjan Hiranandani, MD, HCPL.
KEY WORDS: Reserve Bank of India, RBI, decision, repo rate, 25 basis points, sweet surprise, Makar Sankranti, real estate industry, Niranjan Hiranandani, MD, HCPL.
MUMBAI, JANUARY 04, 2015: It was health-conscious Mumbaikars - more than 8,000 – who started the New Year with the Hiranandani Powai Run on the first Sunday of 2015 with the lead cause of ‘education for the girl child’. The ‘Hiranandani Marathon 2015’ was a healthy and ideal way to start the new year,” said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL). Social Responsibility was also on the agenda, with several non-profit organizations being part of the event.
Niranjan Hiranandani flagged off the ‘Hiranandani Powai Run’, as also ran the 5 kms long ‘Laker's Trail’, which was among the three options for participants. “The main event was the ‘Half Marathon’ 21 km run, which passed through JVLR and the Powai flyover, the second option was the ‘Hiranandani Hop’ 10 km run, while the “Lakers’ Trail” at 4 km was the third option,” said Niranjan Hiranandani. “This is the first time that the Hiranandani Marathon includes sections to be run which are outside the Hiranandani Gardens complex; we also welcome the participation of a large number of Mumbaikars from all over, which made ‘Hiranandani Powai Run’ a typical ‘Mumbai’ event, and not just restricted to residents of Powai and the neighboring areas,” he added. This was the fourth such event; the three earlier editions were based within the Hiranandani Gardens.
With the MD participating in the ‘Hiranandani Powai Run’, it underscored the message of being fit that the Hiranandani Constructions Pvt Ltd is following as its ‘corporate mantra’. “As the MD of my company, keeping fit so as to be able to deliver the best is what I owe to my company’s stakeholders, said Niranjan Hiranandani. “I hope that seeing the MD participate in the ‘Hiranandani Powai Run’ will enhance the aspect of being health conscious within the company as also among stake holders,” he added.
“The ‘Hiranandani Powai Run’ was an initiative to awaken residents of Powai and Mumbaikars about the importance of maintaining their health and lifestyle. With busy schedules, work pressure and hectic lifestyles, we see that citizens tend to neglect their health. The ‘Hiranandani Powai Run’, in a way, was a health wake-up call for residents,” said Niranjan Hiranandani.
It was not just the Marathon to be run; conclusion of the ‘Hiranandani Powai Run’ marked the beginning of festivities, in form of the Carnival. “The Carnival was planned to give a sense of participation to those who did participate in the run – they were able to be part of the ‘Hiranandani Powai Run’ Carnival, where residents could connect with each other, over a fun breakfast and brunch,” concluded Niranjan Hiranandani.
KEY WORDS: health-conscious, Hiranandani Powai Run, Laker's Trail, JVLR, Powai flyover, corporate mantra, Carnival,
Niranjan Hiranandani, MD, HCPL
MUMBAI: Over 8,000 people will take to the streets of Powai on Sunday morning for the Hiranandani Powai Run powered by The Times of India.The addition this year will be a 21km run, which will pass through JVLR and the Powai flyover. Its three earlier editions were on the Hiranandani premises itself.
Besides the half marathon of 21km, there is the 4km laker's trail and a 10km run as well. Those participating in the 21km and 10km runs will get a timing chip.The organizers said that the enthusiasm of participants was exciting and many runners are from those living outside Powai.The reporting time for the 21km run is 4.30am, for the 10km run is 5am and 4km run is 6.15am.
The organizers have requested participants to use public transport to avoid congestion inside Hiranandani Gardens. However, no public transport will be permitted inside Hiranandani Gardens.After the run there will be a Carnival, which is being organized along with the Marathon for the first time.
"The fun starts after the run ends. Central Avenue-from High Street to Forest Street-will be the location of the post-run Powai Run Carnival. The carnival will give all those who are not participating in the run to feel part of it. This stretch will come alive at 9am with a fun breakfast and brunch. We want residents to come out and connect with each other," said Deepak Daryanani, CEO of the Powai run organizing committee.
A kids' fun zone will have a bouncy, train, merry-go-round, tattoo and face-painting among other activities.
There will also be skits on women's empowerment.
for more information refer to : http://timesofindia.indiatimes.com/city/mumbai/Over-8000-to-take-to-the-streets-in-Powai-on-Sunday/articleshow/45736213.cms
Hiranandani Gardens, Powai celebrates its silver jubilee; a dream has come true: Niranjan Hiranandani
MUMBAI, JANUARY 02, 2015: Among the leading landmarks that re-defined Mumbai’s real estate, Hiranandani Gardens, Powai has just completed a milestone: it celebrated the completion of 25 years of the project. The celebration, which started on December 30, went on till January 4. Expressing the celebratory mood, the streets, trees and garden areas in the township were lighted up, giving Hiranandani Gardens Powai a dream-like setting. “It was very apparent during sun-set and at sun-rise, when the twinkling decorative lights stood out against a soft skyline with low intensity natural light.
It truly looked like being in a dream,” said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL). “A dream which has come true, and is celebrating its silver jubilee,” he added.
Panvel, Ahmedabad, Pune and Chennai are locations where the Hiranandani Group Companies will create more such integrated townships, he added. Describing Hiranandani Gardens Powai as a ‘neo classical architectural marvel nestled amidst the verdant Powai hill’, Niranjan Hiranandani said it enjoyed a strategic location, opposite the serene Powai Lake. “Hiranandani Gardens Powai is where more than 4000 families stay. Sprawled majestically over 250 acres, it is arguably, Mumbai’s finest residential township; one that has redefined the standards of elegant living,” he said.
When one speaks of changing the skyline of Mumbai, in terms of creating mixed-use townships, we were among the first to create ‘work spaces’ amidst ‘living spaces’, located amidst ‘verdant greenery', explains Niranjan Hiranandani. "We believe in interweaving living spaces with nature and the mixed-use township, Hiranandani Gardens Powai, provides a verdant Green and serene ambience with 24 x 7 work-and-live environment amidst world-class infrastructure. ‘Walk to work and walk back home’ is something that is a reality at Hiranandani Gardens Powai. It follows the adage that in order to create 'better communities', it is first essential to create 'greener communities', which is a reality at Hiranandani Gardens, Powai," explained the Hiranandani Constructions' MD.
"When we created Hiranandani Gardens Powai, we also became pioneers in leveraging futuristic technology, innovative design and precision engineering to create a world-class real estate complex as also a Green mix-use township, which has gone on to become a landmark," he added. Following Hiranandani Gardens Powai, the focus on creation of green townships has helped the Hiranandani Group companies usher in an era highlighted by a higher standard of living and influenced by global trends, visible in the township projects in Thane, pointed out the Hiranandani Constructions’ MD.
When we created Hiranandani Gardens Powai, we raised the bar of standard of living. “It has been our endeavour to give quality life to people residing here. We not only improved the infrastructure of the location, but have also increased the wealth of people who booked apartments in our complex. Initially, we sold the flats at Rs 500 per sq ft, the rate now is between Rs 25,000 and Rs 30,000 per sq ft,” he added.
His final thoughts on the silver jubilee? “I would like to look at the future. Prime Minister Narendra Modi wants to develop smart cities in India. For the Hiranandani Group Companies, the future will be about develop more townships like Hiranandani Gardens Powai – Smart Cities where people can live and work comfortably,” concluded Niranjan Hiranandani, MD, Hiranandani Constructions..
KEY WORDS: Green, Mumbai, Powai, Panvel, Pune, Chennai, Ahmedabad, mixed-use townships, Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd, KCPL, Hiranandani Group, Hiranandani Gardens, Prime Minister Narendra Modi, smart cities.