The Address is proud to present the 7th edition of the series. Please browse through it to find interesting reads on: 1. CHENNAI Market 2. Dubai South - MAG 5 Development 3. Top selling projects 4. Land Acquisition Bill 5. 7 sisters of North East India 6. Purchasing Properties on Auction
COVER STORYCOVER STORY
5 business sectors
for a balanced city growth.
DECORATE YOUR ABODE
ACCORDING TO ZODIAC SIGNS
of Northeast India.
Please accept the heartiest greetings of the festive season for you
Your preferred realty advisory Square Yards turned 2 this October
trust vested by you in our services and afﬁrm our commitment to
We got pretty decent feedback on the graphic and layout changes
that we made to the last edition of THE ADDRESS. So, keeping the
same in mind we are delighted to introduce the October 2015
fast emerging investment hotspots of India. The cover story is
You will also ﬁnd interesting write ups on the Seven Sisters of North
East India in the Kaleidoscope section and 5 Business Sectors
For our serious readers we have two articles on decoding the Land
Acquisition Bill and tips to buy Properties on Auction. Some
interesting reads on the rising trend of Service apartments and
Studio apartments in cities of India and choosing home decor based
News and updates on Square Yards growth trajectory and latest
We hope you enjoy browsing through October edition of THE
In This Issue
Free Publication. All the contents of The Address are only for general information and/or use. Such content do not constitute
advice and should not be relied upon in making (or refraining from making) any decision. Any speciﬁc advice or replies to
queries in any part of the magazine is/are the personal opinion of such expert/consultants/persons and not subscribed to by
5 Business Sectors..........................................................15
What’s Hot............................................................................ 25
In Conversation with Vivek Agarwal........... 27
Before buying a property on auction.............41
Evolving Concepts of Living......................................45
Square Yards Growth Story........................................51
Indian Real Estate
Indian Real Estate
Decorate your abode
as per Zodiac
In News -
In News -
efore the inception of the internet, it was difficult for
Bbusinesses to connect to customers, speed up their
service and keep a check on the business climate.
Since the first computer hummed into offices, it has driven
dramatic change. It has enabled quick flow of information in
areas including entertainment, news, finance and academics.
It has brought people closer by enabling various forms of
interpersonal communication, notably e-mail, instant
messaging, video conferencing, and social networking.
Furthermore, it has allowed consumers to purchase virtually
anything at any time, while providing producers with direct
access to a wide range of markets. The internet today is a
bustling industry, spurred by entrepreneurship and
supported by a variety of industries and large enterprises.
E-commerce industry, which started in India nearly ten
years ago, is, at present, one of the fastest growing sectors
of the Indian digital economy. India represents a $3.5 billion
market, growing at approximately 60-70 percent every year.
When taking a closer look at the digital disruption
happening across sectors, the closer targets seem to be
factors immediately affecting our lifestyle, like retail,
healthcare, finance and real estate. Amongst these, real
estate seems to be more in a fix right now about how to
exploit this revolutionary medium faster and better.
The realty sector is progressively moving towards digital
trans formation. The initial stages of technology
development that focused on the listing services for mainly
residential sector have paved way for realtor's to innovate
how technology can make their lives better. Also, on the
investors end, transparency of information plays a pivotal
role in real estate investments. With the aid of digital tools,
the investor has clear access to all the info, thus helping him
make well-informed decisions.
Real Estate Ecommerce Engines
The power of internet is no more just restricted to property
listing but has effectively started to dominate the entire value
chain by enabling end users to make final transaction on the
internet itself. These new age super powerful platforms
equipped with some of the most advanced digital walkthroughs
& virtual reality tools coupled with a transparent mechanism of
booking can easily facilitate complete property transaction on
Property portal Housing.com, introduced Slice View towards
the end of last year. The platform helps users to literally slice
through a property, rendering 3 dimensional views. In the
beginning of the year, Common Floor launched Retina, a virtual
realty platform, that help individuals review & access multiple
properties. Tata Housing is also aggressively investing on the
online medium as the company expects 30% of transactions will
be done on the online medium in the times to come.
Similarly, Square Yards has recently introduced Scapes. A
combination of both-slice views & virtual reality, the product
intends to offer spectacular digital walkthroughs, thereby
replicate a property on the digital world. Within just 19 hours of
launch, the product sold 357 units of a NCR based developer-
Indicating the game changing capabilities it has in the digital real
From Advisories to Aggregators
Amidst the changing contours of the Indian real estate industry,
advisories & consultants are also harnessing the power of
technology to change gears. Square Yards, which is the biggest
player in primary real estate transactions in India is transforming
into a real estate aggregator through the application of its newly
introduced program - Square Connect. The program aims to
consolidate thousands of powerful yet unorganized real estate
brokers across one platform, enabling them sell specially sourced
deals from Grade - A builders, which hitherto were not very
interested to work with such brokers because of their
unorganized approach. The platform has so far registered over
12,000 brokers & is expected to add around 100,000 brokers by the
The Internet influenced real estate transactions worth $43 bn
with $31 bn for residential and $12 bn for commercial properties, a
Google study has said. It revealed that 74% of real estate research
online was focused on residential buying and 26% focused on
residential renting. To acquire information from the web,
aggregator sites (62%) were rated as the top source for
information, followed by builder and developers sites (52%). Online
broker sites and real estate blogs and forums (45%) were also rated
as popularly used destinations for information.
It is apparent that the real estate industry has fine-tuned itself to
the digital domain. Considering the pace at which technology is
bringing a revolution in this sector, it is expected that the
organized real estate space will double by 2017.
of the Middle East.
0 years ago most of what was a nomadic desert, now is a glittering metropolis, the fastest
4growing desert city on the planet – DUBAI. Dubai's unfathomably high skyscrapers,
towering into the clouds, are matched only in size by its vast, sprawling shopping malls. It
carries a Cosmopolitan appeal (200 nationalities) and a place where entire communities of ex-pats
enjoy all the trappings that a tax-free haven can offer.
The vision of the government and the different economic sectors, have contributed to the
economy of Dubai, making it the fastest growing metropolitan cities in the world. With a
reported GDP to the tune of $88.65 billion and an average annual growth rate of 5% in recent
times, opportunities in various sectors namely hospitality, Real estate, retail, and finance have
been drawing the attention of investors.
While working to have a strong economy, Dubai also strives to provide a high quality of life to the
people and the society who have always been, and always will be, the bedrock of the city. This lies
in the city's framework to increase citizens' well-being and happiness, in order to achieve the
Dubai's Vision 2020.
This aerotropolis offers various residential options in its
housing cluster “The Village” an innovative concept in
urban living which would deliver 20,000 apartments.
Each village comprises state- of–the–art facilities such
as a well-reputed and recognized K-12 school, a civic
center, a health and wellness complex, high street and
retail outlets. Dubai South has also launched a rent-to-
own scheme as a finance option for buyers in this
project, in which a tenant paying rent towards a
property over a number of years, can convert it into
equity if they wish to purchase the unit after a certain
This $6.8 billion development will also have a green
focus, consisting of a greenhouse with a botanical
garden and beautiful farms to allow residents to grow or
buy locally grown produce.
A City of You.
To maintain its position as the world's most desirable places, the government
of Dubai is building a new destination Dubai South previously known as Dubai
World Central, an upcoming purpose - built city stretching across 145 sq. km.
Its two main highlights are the proposed site for the World Expo 2020, the
mega event that is expected to be visited by over 25 million tourists and the
Al Maktoum International airport which boasts to be world's largest
passenger airport once it completes its $32bn expansion. The airport will
have an annual accommodation capacity of more than 200 million
Furthermore, to involve people of all age
groups in outdoor activities, it has an
indoor walking trail maintaining a climate
The city will house several business
districts within the development across
sectors such as aviation, logistics and
retail. The government has also invested
heavily to attract businesses to set up
within the development.
Dubai South is expected to eventually
house a million people, support around
half a million jobs and promises key
investment attributes, proximity to key
employment nodes, quality of lifestyle
and relative a f fordability to it s
multinational population, workforce and
Several renowned Real estate firms have
also announced projects within the
development. Dubai-based property
group MAG 5 and MBM Holding recently
launched a new affordable residential
project called MAG 5 Boulevard in Dubai
Aiming to appeal to those working in the
community, the Dhs 700m project will
have 1,000 residential units surrounded
by re t ail , lei s ure , dining and
MAG 5 BOULEVARD
With 1000 residential units in 13 modern G+6 buildings, Mag 5
Boulevard is your answer to affordable urban living in Dubai.
This first community project launched in the heart of Dubai South
residential district would spread across. 1,538,000 sq. ft. of area
delivering exceptional functionality and aesthetic appeal in each of its
designed squares. This low rise residential district houses 1, 2, 3,
bedroom and studio apartments loaded with lavish amenities.
Being placed in close proximity to Jebel Ali and Dubai Investment Park
it provides an attractive residential preposition to people working in
Ÿ 5 min to Dubai Marina
Ÿ 30 min to DIFC
Ÿ 35 min to Dubai Int'l Airport
Ÿ 50 min to Abu Dhabi
Ÿ Easy reach to al Maktoum Int'l Airport
Ÿ Affordable prices and attractive 5 year
Ÿ Strategic location.
Ÿ High Rental Demand and Desirable ROI
expected from Dubai South project.
Ÿ Well established and trusted developer.
Why Invest in MAG 5 Boulevard?
he real estate sector is one of the most
Tglobally recognized sectors as it plays a major
role in the growth of cities, leading to the
development of an economy
The real estate sector is composed of five sub sectors
-housing, commercial, hospitality, industrial and
medical. The residential sector focuses on the buying
and selling of properties used for non-business
purposes, mostly dwellings. The commercial sector is
concentrated on real estate used for business
purposes; common types of commercial real estate
include retail and office space. Industrial real estate
focuses on manufacturing and production. Plants
comprise the most common type of industrial real
estate. The medical real estate comprises of
buildings, offices and campuses leased to member of
health care organizations or owned by hospitals,
healthcare systems or public/private third party
groups. The hospitality sector holds the buildings or
campuses used in form of hotels, service apartments
or lodgings, theme parks, leisure centers, pubs and
In India, real estate is the second largest employer
after agriculture and is slated to grow at 30 per cent
over the next decade. The real estate sector in India
is being recognized as an infrastructure service
which is driving the economic growth engine of the
country. The Indian real estate market is expected to
touch US$ 853 billion by 2028. The residential sector
alone contributes 5-6 per cent to the country's Gross
Domestic Product (GDP). Almost 80% of real estate
developed in India is residential space and the rest
comprise office, shopping malls, hotels and hospitals.
The market size of this sector is expected to increase
at a Compound Annual Growth Rate (CAGR) of 11.2
per cent in the period FY08-20. Retail, hospitality and
commercial real estate are also growing significantly,
providing the much-needed infrastructure for India's
Real estate has emerged as the second most active
sector, raising US$ 1.2 billion from private equity (PE)
investors in the last 10 months alone. Foreign
investors have bought tenanted office space worth
over US$ 2 billion in India in 2014, a four-fold rise
compared to the previous year, in order to increase
their rent-yielding commercial assets in Asia's third
Mumbai is the best city in India for commercial real
estate investment, with returns of 12-19 per cent
likely in the next five years, followed by Bengaluru and
Delhi-National Capital Region (NCR). Also, Delhi-NCR
was the biggest office market in India with a supply
of 110 million sq. ft., out of which 88 million sq. ft. is
already absorbed. Sectors such as IT and ITES, Retail,
Consulting and e-Commerce have registered high
demand for office space in recent times.
Delhi's Central Business District (CBD) of Connaught
Place has been ranked as the sixth most expensive
prime office market in the world with occupancy
costs at US$ 160 per sq. ft. per annum.
In residential sector Delhi offers several new
townships consisting of 500–1000 residential dwelling
units with quality infrastructure and back-up
services and office space have been developed to
accommodate the offices of multinationals, airlines,
and financial institutions. In Bangalore, at least seven
such townships in sizes up to 220 acres have been
established. Specialized parks for software and
technology have come up in Mumbai, Bangalore,
Hyderabad, Chennai and Pune. Furthermore, in most
recent times, cities like Ghaziabad, Surat, Faridabad,
Nasik and Patna have been growing tremendously
due to rapid urbanization, expansion of industries
and improved infrastructure.
The growth of the real estate sector is well
complemented by the growth of the corporate
environment and the demand for office space as well
as urban and semi-urban accommodations leading to
the growth of cities. The different metrics of these
different sectors are used to gauge the health of the
real estate industry.
5for a balanced city growth.
Though when it comes to residential heavy weights,
Chennai might not be the name that first strikes the
mind due to certain reasons that involve
comparatively higher mercury levels for most parts
of the year & the language barrier; which sometimes
act as deterrents for few. However the metropolitan
city has witnessed substantial surge in real estate
activities in the recent past.
Like Bangalore & Pune, the rise in the IT industry
along with the arrival of a plethora of other MNCs in
the recent past has been driving demand. In 2013,
nearly 4 million Sq. Ft. of land has been acquired by
the IT/ ITES sector alone in the city. The total IT
workforce of the city has been estimated at around 5
million at the moment- Giving a great push to the
residential market in Chennai.
Presently the total office market stands at near
around 60 million Sq. Ft. with an occupancy of
roughly 80%. Along with IT/ ITES, the BFSI sector is
also demonstrating strong growth in the commercial
segment. Likewise being a port city & one of the
biggest industrial & manufacturing hub in Southern
India has further added to the vigor of the residential
In the recent past the city has been witnessing
annual property launches in tune of 30,000 to
40,000 units with an estimated absorption of 65 to
chenn in EmergingAn Emerging
Real state MarketE
Along with the rise in the IT/ ITES & other industries
such as BFSI, Electronics, Automobile & Marine, Chennai
is constantly ramping up its infrastructure.
Phase I one of the Outer Ring Road (ORR) has been
completed & work on the Phase II has started in full
swing post acquisition of the land. The Phase I of the
project connects Vandalur to Nemilichery whereas the
Phase II of the project which will cost roughly INR 14,
000 million will connect Nemilichery with Minijur. It is
expected that at least 30% of the vehicles entering the
city will use the ORR thereby helping in a considerable
amount of decongestion for the city. Land alongside
the ORR is also demonstrating considerable surge in
prices in the recent past & increased real estate
activities are expected in the coming time in & around
It is also expected that ORR will help in the industrial
development of the Northern Parts of Chennai. The rise
in employment due to high pace of industrialization will
eventually fuel the realty market in the region, which
was hitherto not counted among robust realty markets.
The city is also increasing its public transport facilities
that includes bus, metro services & monorail services.
The relentless work on public transport is part of the
administration's plan to increase the share of public
transport to transport to 46% by 2026- A considerable
19 percentage point increase from the present numbers.
In the recent past, the administration has announced
various new bus routes along with adding new buses on
the existing lines. Likewise Chennai Metro will fully
commence by 2016 wherein the Phase I will be
completed. The Phase I consists of two corridors-
Washermenpet to Airport & Chennai Central to St.
Thomas Mount respectively. It is expected that once
completed, the Chennai Metro will cut down the total
commuting time drastically by 75% between the ends of
the city. Chennai administration has also proposed a 111
km long monorail network comprising of four corridors
to run across the city.
Nearly 90% of the market in Chennai is concentrated in the South & West, with the former considered to
be the fastest growing micro-market on account of better employment options in the vicinity coupled
with economical price options. Major South Chennai locations involve, OMR, Kelambakkam, Guduvancheri,
Sholinganallur, Chrompet & Perumbakkam etc.
The Central part of the city is primarily concentrated with high end luxury & premium projects. The
Central part of the city is also witnessing an ongoing trend of redevelopment wherein existing bungalows
are being transformed into new apartments. Major locations in Central Chennai include, Nungambakkam,
R.A. Puram, Alwarpet, T.Nagar, Mylapore, Royapettah, Kilpauk, Anna Nagar, Teynampet and Adyar etc.
Though activities have not picked up in the North at the moment, as mentioned above ORR can stimulate
industrial development in the region, thereby giving an upward thrust to the residential markets
Old Mahabalipuram Road (OMR) in South Chennai is a major IT corridor of South India. Due to its status as
the IT corridor, the location off late has been witnessing massive surge in real estate activities. OMR is
home to a range of IT companies such as TCS, Infosys, Accenture, Hexaware, HCL, Cognizant & much more .
OMR features amongst some of the major IT parks of the city such as TIDEL & SIPCOT etc.
As a consequence of a booming IT industry, OMR is also demonstrating a burgeoning residential real estate
sector. Nearly 100,000 individuals are employed in the corridor, contributing towards the growth of the
residential markets of this location. A range of prestigious Grade A developers have been involved in the
location in the recent past, which includes distinguished names such as Mantri, Casa, Hiranandani &
Southern Part Leads the Realty Sector
Some of the major projects in OMR include Godrej Azure, Pacifica Aurum & Nivaas Nivriti etc. Godrej
Azure offers a range of 2 & 3 BHK apartments. The project is being liked by both end users employed in
the nearby IT companies along with investors. Pacifica is also located on OMR with a range of 2, 3 & 4
BHK apartments falling between INR 4.2 to 8.4 million. Likewise Janseen Nivas Nivriti consists of 1 & 2 BHK
Major Projects in OMR
The overall Chennai market is still dominated by the end user, making nearly 4 out 5 purchases. Compare
this with another emerging IT Hub Pune, wherein the investor community is as big as the end user &
constitute half of the market.
However, increasingly there has been a surge in investor activity in the city in upcoming locations such
as OMR, wherein investors along with the end users are taking significant interest. The euphoric
sentiments could be explained by OMR's expanding economy propelled by range of new IT/ITES industry
related developments aided by peaceful & calm atmosphere & economical prices, which ensures both
high appreciation & peaceful living.
Future Prospects of OMR
A powerful land acquisition law is the
cornerstone of strong real estate growth. India
hitherto had an archaic land acquisition policy,
which according to many has been detrimental
to the growth prospects of the Indian realty
The very first land acquisition bill was
introduced in 1894, which allowed the
government to acquire land for development
However, it was believed that the nature of the
land acquisition adopted has been very unfairly
biased against the land owners resulting into
numerous disputes in the past.
Likewise, there had been a dearth of
transparent & clearly defined acquisition
frameworks, thereby further aggravating the
In 2007, the UPA government made its first
attempt towards amendment in the existing
laws, which however could not be taken forward
due to absence of a majority in the house.
Thereafter in 2013, the UPA government
introduced the Right to Fair Compensation &
Transparency in Land Acquisition Bill. It set the
framework for acquiring land for Government,
Private, Public- Private-Partnership (PPP)
In the newly introduced bill, the Guidance value
has been revised to twice & fourfold of the
existing market values in urban & rural areas
respectively. (Guidance value is the price of land
defined by the government)
Likewise a clause was introduced wherein
minimum of 80% & 70% of the residents should
give their consensus for land acquisition
pertaining to Private & PPP projects respectively.
Similarly the policy has strongly stipulated that
no one could be displaced until and unless the
entire payment has been made and/or alternate
place for rehabilitation has been completely
prepared. Likewise it has been made mandatory
to conduct Social Impact Assessment (SIA) &
Environmental Impact Assessment (EIA) to gauge
the social & environmental impacts caused due
to displacement & development is also an
important addition to the Bill.
Though the policies & guidelines mentioned had
a positive impact in terms of mitigation in legal
expenses involved in land acquisition, there was
a significant amount of discontent among the
developers & construction companies.
The discontent has emanated from the fact that
the bill made the overall process of land
acquisition tedious & costly.
After power change in 2014, the new NDA
government has proposed certain amendments
in the existing bill with the objective of easing
out the process of land acquisition.
A range of 5 projects involving defense,
infrastructure (social, physical & rural),
affordable housing, industrial corridors & PPP
projects would not require SIA, these projects
would also not require the mandatory consensus
of the 80% of the residents.
The new amendment has also introduced the
provision of mandatory employment to one of
the members of the displaced family post
Though there are mixed reviews about the
efficacy of the land acquisition policy, however
a certain section in the intelligentsia believes
that once approved, the new policy framework
has the required ingredient to give a push to the
ongoing developmental & infrastructure drive.
The proposed amendments are presently under
consideration in the parliaments & are expected
to be subject to further discussion in the coming
time before something concrete gets finalized.
Square Yards presents
some of the hottest
properties from across
India exclusively for
you. Handpicked from a
vast list of properties,
these chosen ones
should ideally fulfill
home buyer wants
Antriksh Eco Homes
Location:- New Delhi
Price & Configuration:-1BHK, 2BHK, 3BHK, starting from
1. Situated in the Heart of Delhi - Dwarka
Artha NEO Midas
Price & Configuration:- 1BHK, 2BHK, starting from
9.95 Lacs onwards
1. Bangalore’s most affordable apartments
2. Pay Just Rs. 55,000* now & Rest On Possession
3. Starting Price Rs. 9.95 Lacs*
Ruchi Active Acres
Price & Configuration:-2BHK, 3BHK, 4BHK &
Penthouse starting from 5750 psf onwards
1. 2 towers
2. Angelica tower Possession in 1 year
3. Daffodil tower Possession by 2018 end
VVIP Meridian Towers
Price & Configuration:-2BHK, 3BHK, 4BHK starting
from `40 Lacs.
1. Buy back @ 50% after 3 years
2. Modular kitchen and ac's LED
3. Parking facility, FTTH (Fibre To The Home)
WHAT’SHOT Central Park THE ROOM
Price & Configuration:- 1BHK, 2BHK starting from
53.8 Lacs onwards
1. Flexi plan 30:35:30
2. PLP 35:65 Subvention 15:80:05
3. Fully loaded apartments
Antriksh Golf Address
Price & Configuration:- 3BHK, 4BHK, 6BHK starting
from 4250 psf onwards
1. Penthouse, Duplex with lounge
2. Subvention 10:80:10 , PLP 20:60:20
Price & Configuration:- 2BHK, 3BHK starting from
3650 psf onwards
1. Completion in 2016
2. Attractive CLP
Hiranandani (Edina & Bayview Towers)
Price & Configuration:-2BHK, 3BHK, starting from 87
1. 25:75 scheme
2. Rent back offer: 30,000 per month for 18
Real estate tech in India can be classified into two major
broad segments – a) Classifieds and listing platforms b)
Transaction oriented platforms. Most classified listing
portals in India are just an extension of phone number
directories that are mostly being used by intermediaries for
putting traps and tossing up smokescreens for customers,
while transaction oriented portals in the market are being
used to push latest new launch projects.
Squareyards.com is positioned to be an independent and
transparent search and discovery platform that does not
have any broker or builder induced biases or impediments.
It offers deep research, data driven insights and decision
making tools that help consumers take an informed
property decision. At the core of the Squareyards.com
portal offering lie in-depth data and strong 'usable' insights
generated through analytics focused on user needs.
Decision drivers - Lifestyle, Livability, Connectivity,
Readiness, and Value for Money indices – are an example of
this approach. A few examples of currently implemented
unique innovations include the following:
Q. How is the Square Yards portal
different from other portals?
Ÿ City level Heatmaps:
Help in exploring the city and identifying the best-fit locations based on an array of factors like
price, connectivity, livability, project completion status, project class etc.
Ÿ Price Vs Size Scatter Plot:
Maps the available property options on price & size in a single view while helping the user in
identifying best-fit projects through an array of smart filters
Ÿ Information rich Project & Unit pages:
Help in evaluating the projects and units through rich and structured information like carpet area
as percentage of total area, key distances from important places like nearest connecting roads
Ÿ Needs Based Recommendations:
An automated engine that provides scored and sorted projects and units based on user needs
and unbiased algorithms.
with Vivek Agarwal
Principal Partner Square Yards
Q. How is technology impacting the nature
of real estate transactions in India? Is Indian
real estate industry fertile enough at
present for adopting new technological
The Indian customer, in lock step with global
trends, is increasingly a smart digital user and is
expecting businesses to provide personalized
and effective services. However, real estate
market in India suffers from significant digital
lag and service vacuum. Considering the size and
dynamics of the Indian real estate industry, we
believe significant opportunity exists to help
customers take optimized and delighful
property decisions through innovative DIGITAL +
SERVICE business models underpinned by
platform-based customer-centric approach.
There is a massive need for quality services.
Online players need to evolve from brokerage
based pseudo-advisors to enabling genuine last-
leg service providers like financial & legal
advisors, vastu experts, interiors designers,
a f t e rma rke t s e r vi c e p rovid e r s like
documentation and payment collection etc.
Also deal-making needs to be less stressful and it
can be enabled by digitalizing pre-money buyer-
seller interactions on a multi-sided platform. An
efficient and self-regulating digital marketplace
or a ‘dealroom' can take away lot of unnecessary
pain and unnerving experiences buyers and
sellers have to go through while a transaction is
being materialized. Given improving technology
adoption curves and best-in-class digital
experiences emerging in other industries, it is
very much possible to create such an ecosystem
for real estate.
Q. What is the role of analytics in real
estate? Can intelligent analytics translate
into tangible research outputs for the
Property buyers battle an array of challenges –
ranging from biases and information gaps to
getting a firm grip on their own needs and
constraints – while looking for the perfect
property in an increasingly complex, cluttered,
and confusing market. Strong analytical tools
can help them cut through the clutter and make
an informed choice. For example our Need
Based Recommendation tool uses in-depth data
on locations, projects, and units that are at the
heart of any property decision. Using
proprietary analytics, all potential projects and
units worthy of your consideration are scored
and sorted and top recommendations are made.
Due consideration is given to a wide variety of
inputs including, but not limited to, developer
rating, project status, unit loading, project's
amenities and specifications, quality of
construction etc. Additionally, most luxurious,
largest units within budget, and best connected
options are provided in the recommendations.
Q. What new technology innovations are
expected to be seen on Square Yards portal?
Squareyards.com has three key objectives of
bringing higher information transparency,
delivering best-in-class user experience, and
helping buyers take informed decisions at any
stage of their decision journey. We will be
revamping our portal soon to introduce next-
level insights through a unique micro-market
based navigational platform that will offer deep
research capabilities to investors. Being co-
created with the users, these features will be
focused on addressing all pain points that users
experience irrespective of the stage of decision
journey they are in or depth of know-how that
they have in real estate. We'll be soon launching
our mobile apps for Android and iOS along with
new features like geo-location based trackers,
property valuation engine, and client portfolio
management besides expanding to multiple
cities while fine-tuning the data and analytics
pieces for international rollout.
of Northeast India.
sobriquet for the seven states of North
AEast India, The land of seven sisters
comprises of Arunachal Pradesh, Assam,
Manipur, Meghalaya, Mizoram, Nagaland and
Tripura. A place mystic and vibrant, framed by
mighty mountains and gently rolling hills is also
home to sparkling rivers, sacred lakes and strewn
with landscapes abundant in exotic flowers and
amazing animals. Each place is more beautiful than
the other with distinct characteristics and
together they form a kaleidoscope of magical
Shillong the Scotland of India is a quaint, unhurried
place set amidst smoky blue hills, thick with pine
trees and orchids, singing brooks and scenic lake
side views of crashing waterfalls. Complementing
the freshness of pinewood and orchids, Assam –
The Tea Country with its sprawling tea estates
that are even, harmonious, and very green
produces some of the best aromatic teas in the
world. A walk through the silent acres of lush
greens is a soothing experience. The centuries old
heritage tea bungalows of Assam, are reminiscent
of a romantic lifestyle, fostered by the splendid
isolation of the prosperous tea estates. The 400-
year-old monastery of Tawang in Arunachal
Pradesh houses a gigantic 10 meter statue of
Buddha exuding spirituality and peace. Kamakhya
temple in Guwahati, Assam dedicated to the
mother goddess, and one of the 51 Shakti peeths
is also a big pilgrimage center.
Tripura - a royal feast for the eyes, dotted with
magnificent palaces; all spectacular in their
indulgence, invoking the spirit of a romantic
heritage. The majestic Ujayanta palace, set amidst
sprawling gardens, is the crowning glory of
Agartala. The Neer Mahal, opulent, romantic,
rising in the middle of a natural lake - Rudrasagar,
is resplendent in the glow of the evening sun.
For ardent wildlife fans, one is spoilt for choice in
the North East with its array of National Parks and
Sanctuaries that are home to the most exotic
species of birds and animals in the world. Kaziranga
on the southern bank of the Brahmaputra is the
oldest park in Assam and with its tall elephant grass
and reeds makes it the only remaining natural
habitat of the great Asiatic one horned Rhino.
A paradise on earth, Manipur nestled deep within
the lush green corner of North East India, boasts of
the world's largest and only floating park “The
Keibul Lamjao National Park” which is the natural
habitat of the endangered Eld's Deer sub species
called “SANGAI”. For the wilderness enthusiast, a
visit to the Namdampha wildlife park in Arunachal
Pradesh is a challenging and exciting goal. A unique
feature of this sanctuary is that it is the only park in
the world where four of the great felines are found
the tiger, the leopard, the snow leopard and the
In Arunachal Pradesh, there are 25 different tribes
who can trace their origins to places like China,
Mongolia, and Tibet. Each tribe has distinctive
features and each have a distinctive identity
manifesting their unique culture.
The hill tribes in the areas now known as Nagaland
have no generic term applicable to the whole race.
The word Naga was given to the hill tribes by the
people from the plains. Weaving is the traditional
art form handed down from generations in
Nagaland. Each of the major tribes has its own
designs and color.
Mizoram with the finest choir singers in the North
East, is truly the song bird of the region. The Mizo's
are fun loving and sociable people and despite
external influences they have been able to retain
and keep their cultural identities and tradition
Manipur, known as the land of Radha and Krishna
have gifted India it's graceful and lyrical Raas Leela -
a classical dance that enacts the love story of Radha
and Krishna guarded by blue green mountains and
embraces many colorful communities such as
Meitei, Nagas, Kuki-Chin-Mizo, Gorkhas and
The Land of Seven sisters is indeed an experience,
difficult to translate in words or pictures. No
adjective is descriptive enough, no picture is
expressive enough; one must feel it firsthand.
Rapids and rivers, the Himalayas on 3 sides, forests
echoing with the voices of the creatures that live
inside, tribal people living in perfect harmony with
nature, hunting and fishing, sweet aroma of tea in
the air, Golden Mahseer to river Dolphins, North
East is indeed a paradise waiting to be explored.
ndian real estate aggregator platform
ISquare Yards acquires Oryden Tech Labs, a
creativity & design studio based out of
In order to ramp up its digital offerings
SQUARE YARDS has acquired Oryden, a
creativity & design studio that specializes in 3D
architectural design, process visualization,
digital walkthroughs & virtual realities. Though
not disclosed, the nature of the deal has been
cash & equity. The entire team of Oryden will
join Square Yards.
“Web is increasingly becoming the game
changer in real estate industry with concepts
like digital walkthroughs & virtual realities
helping users visualize the property on web
itself & take informed decisions, without
actual property visit. Bringing in Oryden under
the Square Yards umbrella will help us enhance
our design & innovation bandwidth” says Tanuj
Shori, CEO, Square Yards.
It is the 3 acquisition in a row for Square Yards,
which has recently acquired realizing.in & Luxe.
The former is a Singapore based luxury realty
agency whereas the latter is an innovative
property portal acclaimed for using some of
the latest property search & analytics
Founded by Mr. Keyur Bhalavat, an IIM-
Ahmedabad alumnus & Mr. Ravi Patel, a design
wizard, Oryden started as a 3-D architectural
design studio but soon ventured into various
other innovative designs such as industrial
process design & virtual realities.
“The acquisition will be a great boost towards
Square Yards digitization drive, both in volume
as well as value. Besides, bringing in more
projects online, Oryden will also be working
extensively on the enhancement of Scapes-
Square Yards proprietary online transaction
engine ” Says, Mr. Biswaroop Padhi, Principal
Partner & CMO, Square Yards.
"Me and the entire team is excited to come on
board the Square Yards growth juggernaut.
While we were doing great independently, the
management and geographical bandwidth that
Square Yards has shall enable us to work on a
wider range of projects and boost our R&D
capabilities in holographic projections, 3D
printing etc." says Keyur Bhalavat, Co-founder,
Square Yards, has recently introduced its e-
commerce transaction engine named Scapes.
Based on virtual reality & digital walkthroughs,
the proprietary product has facilitated total
transaction in tune of USD 50 million so far.
In the coming months, Oryden will be working
on Scapes, wherein they will introduce
advanced versions of digital walkthroughs in
which, the online user can voluntarily navigate
through the property. It will be a break
through from existing platforms, in which
users have to follow a predefined walkthrough
The design & creative skills of Oryden will also
be harnessed in the event business of Square
Yards, wherein through 3-D projection, visitors
will be able to see various real estate projects &
learn more about them.
Square Yards has recently crossed Rs 100 crore
in revenues, with a gross transaction value in
excess of USD 500 million. The startup did so
by focusing on key business metrics- revenues,
profitability and market share. It also scaled up
its presence to 21 cities and seven countries
with an employee strength of more than 900.
part from the traditional mode of purchasing a house from a builder or
Aan investor, there is yet another way of purchasing a property. This is by
buying property at bank auctions.
Buying a property at an auction is both exciting and potentially profitable only
if one knows the “Do's and Don'ts” of it.
Few key things you need to look out for when contemplating purchasing a
home at an auction:
Purpose of Buying
Are you going to occupy and live in the home
yourself? Are you going to rent it out as an
income generating property? Are you going to
flip it in 6-18 months or are you intending on
holding on to it for the long term? This will help
you determine what you should pay for the
property. For example, if you are looking to
purchase in a distressed geographic location,
then a flip may not be your best bet since no
matter what you do to the house, you may not
realize the value you create through renovations
during the hold period. However, if you think in
x years the market in that location will recover
and you are planning on holding for that period,
then that same investment may make sense.
Choose the mode of
Banks can auction property either in an offline
mode or online. The traditional offline mode is
more popular in India, when banks announce the
auction of the property in newspapers.
Sometimes, big real estate agents also have this
information. In this case, prospective buyers
assemble at the auction venue and do the
bidding. In the online mode, banks announce the
auction on websites. The recently announced e-
Auction by SBI is an example of this. When banks
auction the property online, the prospective
buyers will need to place online bids for the
property. However, this mode is not yet popular
If you are financing the purchase, then an
appraisal will be required and that will provide
guidance as to its value. However, if you are
buying all cash then an appraisal may not be in
the equation. In that case, you'll need to look at
comparable sales on your own. If you are using a
broker, utilize the broker and have the broker
perform a brief survey of property in the
geographic region for purposes of determining
its fair value.
Inspect the Property to determine if there
are any red flags
Go out to the property with a contractor and
have them look for any major red flags including
condition of the roof, structural components,
deferred maintenance etc. Have them prepare
an informal bid. This can come in handy in case
you are already in contract and you need to
negotiate a price reduction with the Seller.
Buying a property in an auction requires care to
be exercised regarding the costs and property
deeds, like any other purchase. However, the
auction and purchase process works on tight
deadlines, and one needs to have sufficient funds
in place at the time of auction. If not, the deposit
amount paid will be lost. Therefore one should
buy the property in an auction only if the
purchase funds can be arranged on time.
Further, if the price offered at the auction is not
very different from the market price, there may
not be any substantial benefits in choosing such
If you're interested in buying a property on
auction, you should have a decent risk appetite.
It is always good to have a comprehensive
knowledge about the process and about the
properties you are interested in bidding on.
Besides, auction properties are worth exploring
for savvy, intelligent and motivated individuals
who desire for profitable homes through an
The present-day economy and evolving real estate dynamics is leading to various shifting trends in standard
housing choices of modern generation. While urban living had gained quite some popularity even a decade back,
the trend has now been shifting towards the more relaxed ambience of suburban communities. Developers are
inventing various concepts in order to make the housing market across major cities more attractive to
prospective buyers. Various prestigious developers like Lodha, Oberoi, Four Seasons, Ascott, Hiranandani,
Paranjape etc. are actively venturing into the new concept of apartment living due to the increasing demand and
comparative costing of these projects.
The two hot trends in urban dwelling currently are:
The concept of luxury apartment lifestyle in residential societies has emerged due to a variety of new concepts
of remote working and globe trotting lifestyles. The trend of self-employed individuals and the popularity of
home office oriented businesses have also contributed to this mentality. A large number of professionals are
shifting towards the metro cities for work in India. And this is the community which is pushing the demand for
such apartments in India.
A serviced apartment is actually a fully-furnished settlement, which is available on short-term as well as long-
term basis. These apartments have all the basic facilities for everyday chores, which include a kitchen with a
microwave with entire cooking range, dish washer and a washing machine etc.
The concept of serviced apartments is very convenient in the metros and some tier-II cities, where showcased
hotels are particularly overpriced. The topmost locations for serviced apartments are in and around the city's
Central and Suburban business districts. Presently, the demand and development rate for serviced apartments is
in Mumbai, Delhi, Bangalore, Hyderabad, Pune, and Chennai.
Evolving Concepts of Living Service Apartments
& Studio Apartments
Basically, studio apartments consist of a large single room which includes living and dining areas, a bedroom, with
compact kitchens and bathrooms. When first introduced in the Indian market, studio apartments were favored
mostly by bachelors. Nearly 85% of the total demand for studio apartments in Mumbai, Pune, Bangalore, Chennai
and Delhi-NCR are generated by IT professionals and newly moved manufacturing sector employees, due to the
low maintenance and relief from high rents in the metro cities.
We are all different. Some like peace and quiet, some would be happier living in the center of a noisy
city. The stars guide our choice of living conditions and environment. The choice of decor that we pick
for our home relates to the kind of star sign we were born under.
DECORATE YOUR ABODE
ACCORDING TO ZODIAC SIGNS
ries. Settle in a large, airy and light home. Furniture should be effective and on the
Abright side. You might love bright red colors, but don't overuse them, because they
will irritate you in large doses. Hang lots of mirrors to make the space appear even
larger. Tapestries and colorful scenic pictures are also great for Aries. Rearrange your
furniture often to renew your surroundings and add fulfillment to your life.
aurus. Harmonious Taurus is all about thoroughness. Furniture for Taurus should be
Tmade out of natural wood, or be green, blue or yellow. TV will probably go in the
center of the living room at its prime location. Plants in different colored pots will
make a Taurus feel right at home.
emini. For Gemini its best to purchase low, light furniture that can be arranged on
Gthe sides of the room. A bed that folds into the closet or a wall can also work. The
center of the house should be empty so that the Gemini can easily travel through the
center of the rooms. Use light colors for main things like walls and furniture.
ancer. Traditional coziness, lots of closets and nooks are any cancer's dream,
Cespecially girl cancer. You will not be able to live without cute, multilayered curtains,
a soft warm couch, or a quiet corner for relaxation. A country style of decorating
might suit cancer well.
eo. Classical Leo loves classical style. Your house has to resemble a castle or a
Lpresidential suite. Large interiors, high ceilings, expensive grand furniture, fancy rugs,
decorative vases, golden decorative touches are the things to find in a Leo's house. In
short, a king's palace would warm your heart.
irgo. Virgo is realistic and practical. These qualities will define a Virgo's home.
VBeing very fashionable and having expensive things is not necessary to make a
Virgo happy. Important here are order, durability, reasonable price and comfort.
ibra. The most important qualities of homes for Libras are aesthetics and quality.
LMany Libras like antique things, rare decorating elements, other Libras like the
sharp quality of modern style. Libras can be very different and unpredictable, but
always balanced and calm. Good quality and originality are most important for them in
corpio. Scorpio is a sign that's least interested in its surroundings. Very rich inner world of
SScorpios is shown in the things they surround themselves with. Whatever the interest of a
Scorpio in life, those are the things you can find in his house. Unusual geometric shapes
and modern furniture can go great with Scorpio's character. Art Deco style might be the best
suited for this sign.
agittarius. This sign loves fashion. Sagittarius' home has to be modern, leave an
Simpression and be spotless. The latest decorating trends and newest electronics are a
must. Unconsciously, Sagittarius will go towards bigger and better things. Changes
are also necessary. Try to change your furniture arrangement as often as possible.
apricorn. Order and practicality are Capricorn's best friends. Furniture is functional
Cand good quality, colors are natural and calm. Comfort is very important to a
Capricorn. A kitchen doesn't present as much interest as the rest of the house. The
living room and a workroom are most important and kept in the best style and neatness.
The rest of the house could be forgotten for a Capricorn.
quarius. Modern, glass and plastic are some of the preferences of Aquarius when it
Acomes to decorating. Female Aquarius is more practical, male Aquarius will enjoy
creative mess and popular modern furniture. Home mini water fountains, foldable
cabinets, or innovative multifunctional couches are some of the things that will make
isces. Most Pisces love a cozy, clean home. Female Pisces can't live without carpets or
Parea rugs, beautiful furniture and elegant curtains. Male Pisces are not much
interested in their home. Pick cool colors and soft round shapes. One of the most
important things for Pisces to have at home is company.
From a Humble
Beginning to the
Biggest Player in
Primary Real Estate
Millions of dollars have been poured into the online real
estate space in India over last few years but most players
are yet to discover the perfect recipe for success. On one
hand Classified & listing portals are still discovering the
'true north' of their business models while transaction
oriented players are finding it hard to scale up their
businesses beyond certain geographies.
Amidst such a transforming space, which is equally
chaotic at the moment, the journey of Square Yards has
been similar to that of a silent assassin, which started
quietly behind the scenes, but soon built significant
traction & scaled up to heights which are seldom seen
among Indian start-ups.
The Indian real estate start-up, which commenced its
journey as a property advisory with just 3 employees
has transformed into the biggest player in primary real
estate in India with a total workforce of over 900.
Square Yards was founded in October 2013 by Tanuj Shori, an IIM grad investment banker, and Kanika Gupta,
an ex-model and actress, who were based in Hong Kong at that time. The husband-wife duo spotted a
huge opportunity in NRIs who want to invest in Indian real estate but who neither get access to unbiased
information to do research prior to making an investment decision nor do they get the requisite support
& post transaction services needed post making an investment.
The founders did extensive research about real estate in different micro-markets of top 10 Indian cities
and started publishing these research nuggets to the NRI community. The NRI demand started flowing in
and the company quickly expanded base in India by establishing offices in top metro cities and building
relationships with top developers. They also setup a portal primarily to facilitatewww.squareyards.com
end user research about Indian residential micro-markets.
Over the next one and half years, Square Yards established its presence in 15 Indian cities and 5 countries
and started dominating in all major markets it operated in while gaining virtual monopoly in the NRI
markets of Singapore, Hong Kong, Dubai, Abu Dhabi and London.
Still bootstrapped, it achieved the feat of doing 300+ monthly transactions and $1.5Mn monthly revenues
to become the no. 1 player in India by revenue run rate. In April this year, the company raised a pre series
investment of $6Mn from a group of HNI investors. Inorganic growth followed soon with the acquisition
of Realizing.in and LUXE real estate in Singapore. The former is a Singapore based luxury realty agency
whereas the latter is an innovative property portal acclaimed for using some of the latest property
search & analytics innovation.
The portal also evolved to a highly innovative and user centric research portal having features like city
heat-maps, need based recommendation engine, rating parameters like connectivity, livability, carpet
area, lifestyle and value for money for 6000 primary projects and 20000 unit plans.
Next phase of Technology Led Growth
Square Yards is now pursuing a technology led growth model and building multi modal distribution
platforms that will help consolidate its position as one of the most innovative, largest and scalable
businesses in India. It recently launched Scapes™ - a revolutionary platform for real estate e-commerce
that has the potential to bring $ 2 Bn of real estate inventory online. Its unique features include real time
inventory selection, virtual 360 degree walkthroughs, augmented 3D realty experiences, payments and
portfolio tracking for customers and developers. The e-commerce platform received a blockbuster
response when it sold 350 homes in flat 19 hours for the first project launched on it in Delhi.
Scaling up while Bootstrapping
More recently, Square Yards launched India's first mobile-only demand
aggregation plat form - SQUARE CONNECT for real estate brokers,
independent financial agents, stock broking firms and financial institutions. The
mobile app provides access to a much larger primary real estate inventory
opening up more possibilities to do business outside the current area of
operations and helping users earn potentially higher commission slabs from
developers. Square Connect is already being used by 15,000+ real estate brokers
across 12 different cities and 25+ top stock broking firms, financial institutions
and online firms.
Brokers and agents can use the app to view exclusively sourced deals from
grade-A developers in top 12 cities in India, make bookings through the
platform and track status of their payments with complete transparency. The
app provides a dashboard to view complete transactional details and history of
a property booking and gives notifications on key changes in the status of the
transaction like client KYC approval, slab confirmation, collections from
developers and payments of brokerage earned – all this with support of a
dedicated Relationship Manager and a CRM help desk – to ease out the
operational difficulties faced by them while dealing individually with the
Tanuj Shori, Founder & CEO of Square Yards, says – “With Square Connect, we
are pivoting our business model to be more of a technology-enabled
aggregator and distributor of primary real estate rather than a pure play
transactions advisory. Square Connect's unique platform will help Square Yards
to reach the targeted 20% market share of primary residential market in India
by consolidating supply and demand, creating significant barriers of entry
through scale, sourcing capabilities, and use of technology to enable multi
modal distribution platforms” “
The company aims to reach 100,000 brokers and hit 100+ institutional tie ups by
the end of FY16. This would be the largest distribution network of primary
real estate anywhere in the world. Given improving technology adoption
curves and best-in-class digital experiences emerging in other industries,
primary Real Estate in India is ripe for disruption using digital technologies and
services, including ones that help brokers and advisors create much stronger
positive impact in the market. With its proven execution capabilities, Square
Yards seems to be well positioned to be one of the frontrunners leading this
From Advisory to Tech Enabled Aggregator