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
MUMBAI, January 15, 2015: Located in a picturesque location, with the verdant green Yeoor hills and the Sanjay Gandhi National Park on one side, the Ullhas River and Thane Creek on the other sides, Thane is blessed by Mother Nature. “Add to that infrastructure which enhances lifestyles; be it shopping malls, auditoriums, art galleries, top-notch medical facilities, entertainment complexes, academic institutions, hyper marts and multiplexes, and you have a residential destination that claims the sobriquet of a ‘luxe living residential destination,” said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL). “Truly, high-end construction coupled with architecture of global standards makes homes in Thane ideal for home seekers, making it an attractive proposition, and HCPL has some great offerings for home seekers in this segment,” he added.
Redefining the concept of luxury living in Thane, HCPL offers a ‘luxe-living’ residential project, Rodas Enclave at Hiranandani Estate, Thane. “The project has been well received, and from serious enquiries by intending buyers to actual sales, choice units across the project are being snapped up,” said Niranjan Hiranandani, MD, Hiranandani Constructions. "The Hiranandani Group companies have ushered in an era marked by higher standards of living and global lifestyles, Rodas Enclave is an apt example of this," he added.
“Ideally located in the vicinity of the Ulhas River, Rodas Enclave is among the new projects launched by the Hiranandani Group; and it marks ‘upscaling’ of luxury housing in the township of Hiranandani Estate,” explained Niranjan Hiranandani. He went on to add that Rodas Enclave, comprising 18 buildings, is classified as a ‘luxury project’ -- with the concept of ‘spacious living’.
Explaining the concept of ‘spacious living’, Niranjan Hiranandani pointed out that being ‘ISO 9001 - 2000 certified’ meant having a clear vision to go beyond just providing spaces to live. "The Hiranandani Group has created integrated townships and lifestyle patterns, and in effect, this has become the face of the new generation; indeed, with Rodas Enclave, it reflects the collective psyche of a vibrant India's energy, drive and vitality," he explains. "Rodas Enclave speaks the language of a new passion, of affluence and of happiness, that begins with an individual and culminates into the well-being of the residents," said Niranjan Hiranandani.
“As an ideal location for ‘luxe-living’, Thane is making its presence felt as one of the top luxury destinations in not just the Mumbai Metropolitan Region (MMR) but also India. While a casual observer might consider this to be an initial phase, but trends indicate that the luxury quotient of the region is set to grow,” said Niranjan Hiranandani.
The Hiranandani Group has come a long way to be recognized across India for their modern and ‘state-of-the-art’, mix-use, green township projects in Powai and Thane, both of which have become preferred residential and commercial locations in and around Mumbai, explained Niranjan Hiranandani, while similar green township projects are all set to follow in locations like Panvel, Pune, Chennai and Ahmedabad.
The 18 buildings in Rodas Enclave will comprise 18, 24, and 28 floors, a floating clubhouse, a green zone, avenues for recreation and entertainment, perched on an elevated podium said Niranjan Hiranandani. “The towers will be surrounded by a podium garden, and the outdoor amenities will be made accessible for residents alone,” he added.
"We are pioneers in leveraging futuristic technology, innovative design and precision engineering to create world-class residential and commercial complexes as also green mix-use townships, which have gone on to become landmarks," he said, adding that at Rodas Enclave, the buildings have been designed by renowned architect Hafeez Contractor while landscaping is done by Peridian Singapore in collaboration with in-house design team of Hiranandani Developers.
Apartments at Rodas Enclave will have marble flooring, aluminum heavy duty windows, deluxe / premium bathroom fittings, modular kitchen with quartz stone platform, backup for selected light points in each flat, corrosion resistant plumbing and air-conditioning, explained Niranjan Hiranandani. “Planned by an interior designer, it has French windows and a large deck and separate access for the servant’s room,” he added.
“The focus on creation of integrated townships has helped the Hiranandani Group companies usher in an era highlighted by a higher standard of living and influenced by global trends, and Thane fits in perfectly in the ‘luxe-living’ segment – truly, Thane is the ideal ‘luxe living’ residential destination,” concluded Niranjan Hiranandani.
KEY WORDS: luxe-living, verdant green, Yeoor Hills, Sanjay Gandhi National Park, Ullhas River, Thane Creek, Rodas Enclave, Hiranandani Estate, Thane, Mumbai, Powai, Panvel, Pune, Chennai, Ahmedabad, mixed-use townships, Niranjan Hiranandani, Hiranandani Constructions Pvt Ltd, HCPL, Hiranandani Group, architect, Hafeez Contractor, landscaping, Peridian Singapore
Niranjan Hiranandani welcomes Damanganga-Pinjal interstate river link project getting Centre's approval
MUMBAI, JANUARY 19, 2015: Union Water resources minister Girish Mahajan announced the approval granted to the Damanganga-Pinjal interstate river link project on 7 January 2015. Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL) welcomed the decision, and said this will have a positive impact: Mumbai’s water resources will get augmented, and Mumbai's drinking water challenges might be a thing of the past.
The Union Water resources minister said it was proposed to complete the project in seven years. “Once complete, it should result in Mumbai receiving adequate water,” he added.
Niranjan Hiranandani explained that the Damanganga-Pinjal link project will divert surplus water stock in the Damanganga basin to Pinjal reservoir in Vaitarna basin; from where the water would be supplied to Mumbai, effectively augmenting Mumbai's domestic water supply. “This has been a project that has been stuck in files and meetings since some time now, the approval should be welcomed; and we look forward to speedy implementation of the same,” concluded Niranjan Hiranandani, MD, HCPL.
KEY WORDS: Union Water resources minister Girish Mahajan, Damanganga-Pinjal interstate river link project, Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd, HCPL, Mumbai, Vaitarna
‘Maharashtra CM announces measures to bring transparency in real estate: positive, says Niranjan Hiranandani’
MUMBAI, 26 DECEMBER 2014: Real estate developers in Maharashtra have been positive to the announcement on 22nd December by the Maharashtra Chief Minister, Devendra Fadnavis, wherein he announced a series of measures in the Maharashtra Legislative Council which will help reduce time taken to start construction. This, effectively made it a welcome announcement for home seekers who have been faced with delays in possession of under construction homes in recent times. This is part of the process to bring transparency and increase the ease of doing business in the real estate sector, according to media reports. "Any positive move needs to be supported, and I am sure the Maharashtra Chief Minister has the best intentions, and the impact will be positive," said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL).
Media reports said the Maharashtra Chief Minister said builders and developers would be able to obtain permission to start construction within seven days from their respective municipal authorities or district authorities, if the building plan submitted by them was as per the 57 building designs approved by the government.
“Creating affordable homes will now become a reality, if this effectively reduces the time that used to be taken in getting the permissions,” said the HCPL MD. “It will also ensure home seekers get homes within the stipulated time. In the present scenario, real estate developers, after submitting their building plan, have to wait for the No Objection Certificates (NOC) from several municipal departments, such as fire safety department, drainage and sewerage department as also the road department before they get final permission from town planning department to start construction. In some cases, it used to take up to two years before a real estate developer could start the actual construction. Definitely, the announcement is a welcome one,” he added.
Media reports quoted the Maharashtra Chief Minister Devendra Fadnavis as having announced these measures in the legislative council on 22 December. The Maharashtra Chief Minister was also quoted in media reports as having announced higher Floor Space Index (FSI) for industrial and educational activities and also decentralized the powers to grant such FSI at the district collector level. Niranjan Hiranandani, MD, HCPL was positive about this announcement. “Till now, files to grant higher FSI for industrial and educational activities had to be approved by the chief minister, delegation is always better than excessive regulation,” he added.
Niranjan Hiranandani concluded by saying he welcomed the Chief Minister’s announcements, and said he looked forward to more such initiatives by Maharashtra Chief Minister, Devendra Fadnavis.
KEY WORDS: Maharashtra, Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd, HCPL, Chief Minister, Devendra Fadnavis.
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.
Navi Mumbai airport, Nhava-Sewri Mumbai Trans harbour link will be 'positive' developments: Niranjan Hiranandani
MUMBAI, JANUARY 06, 2015: Media reports suggest work is all set to commence on the Navi Mumbai airport project and the 22-km Nhava-Sewri Mumbai Trans Harbour Link in the first half of 2015. "Both these infrastructure projects have the potential to help create new locations where affordable homes can be provided, as also give fillip to the proposed economic zones and creation of Smart Cities at locations in the periphery of Panvel and Navi Mumbai in the Mumbai Metropolitan Region (MMR)," said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt Ltd (HCPL).
The Navi Mumbai Airport will have a positive impact on real estate development in Panvel and Navi Mumbai’s peripheral regions, which will be beneficial for home seekers in the MMR. The other positive impact will include providing a fillip for development of Smart Cities and proposed economic zones in locations that will get a positive impact from both, the trans-harbour link as also the airport, Niranjan Hiranandani pointed out.
The process of bidding for the airport's development should happen soon, more than five national and international airport developers have showed interest in placing bids, given that the State and Centre have made the financial conditions more attractive for them, said the HCPL MD. "Now, we should see dreams becoming a reality, and from the perspective of economic growth, job creation as also real estate development in the MMR, this will be good news," he added.
"I see as positive news reports which mention that the government has entered the last phase of land acquisition towards Navi Mumbai for the trans-harbour link, which promises to revolutionize the transport system, bringing what are today's far-flung locations closer to the Central Business District (CBD) of South Mumbai," he added. "It will not just help de-congest South Mumbai, but also bring present-day remote locations closer to South Mumbai's business centres; in effect, provide a fillip to real estate development across not just the Island City and Navi Mumbai – Panvel’s periphery, but the entire MMR," said the HCPL MD.
There is a very simple logic why both these projects complement each other, explained Niranjan Hiranandani. "The success of each will be a positive for the other: if both are successful, it will ensure financial viability in the long run. Viewed from a real estate development perspective, both these projects are inter-connected, not just in terms of increasing connectivity but also in terms of helping develop the proposed economic zones located in the periphery of Panvel and Navi Mumbai," he added.
The Navi Mumbai airport and Nhava-Sewri Mumbai Trans Harbour link will be 'positive' developments for the MMR, concluded Niranjan Hiranandani.
KEY WORDS: real estate industry, affordable housing, Niranjan Hiranandani, MD, HCPL, Navi Mumbai airport project,Nhava-Sewri Mumbai Trans Harbour Link, Smart Cities, proposed economic zones, affordable homes, de-congest South Mumbai, economic growth, job creation.
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.