Real Estate Magazine

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Chapter 2/4: Designing Homes That Feel Like You

At Archmaze Associates, our creations live this adage because we don’t just design buildings—we shape homes filled with comfort, beauty, and meaning. You feel great leaving it and even more so when you come back! To this end, as an architectural firm we specialize in creating private residences that are thoughtfully planned to keep things deeply personal, beautifully designed, and most of all, crafted in ways that go beyond dreams. To us, a home is beyond four walls and a ceiling. It’s a reflection of the people who live in it, their dreams and aspirations. That’s why every project of ours starts with listening carefully. We take time to understand your lifestyle, your preferences, and your dreams. Whether it’s a cozy weekend cottage or a large family home, our aim is to design spaces that feel just right—for you, every moment. Our approach is rooted in four key values. First, sustainability. We use eco-friendly materials and focus on natural lighting, ventilation, and energy-efficient systems. We design with nature, not against it. Second, functionality. Homes we help create are not only elegant but also practical. We create layouts that flow naturally—from living rooms that invite conversation to kitchens that support everyday life to bedrooms that induce the feeling of rest and happiness. Third, personal style. No two families are alike. We ensure that every home reflects the personality and lifestyle of its owners. Your taste, your habits, your comfort—it all matters. And fourth, timelessness. We believe good designs last. By using natural materials and simple, elegant forms, we create homes that look good today and still feel right years from now. Our design process is clear and collaborative. It begins with a friendly consultation where we discuss your goals, needs, and site conditions. We then study the land carefully, looking at light, wind, slope, and other natural elements. Next comes the creative part—translating your ideas into initial sketches and concepts. These ideas are developed into detailed drawings and specifications, using tools like CAD and Building Information Modelling (BIM). Throughout the process, we coordinate with experts in structure, lighting, ventilation, and more. Once everything is planned, we help you get the required permissions. We stay involved during construction, making sure your home is built exactly as it was imagined. At Archmaze Associates, we’re passionate about building more than houses—we’re building havens. Spaces where you can rest, grow, and celebrate life. Homes that welcome you every day with warmth and grace. Let’s build yours, together.   Ar. Sahil J Khinvasara Founder, & Principal Architect at Archmaze Associates +91 9021588829 [email protected]

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Redefining Retail Property Leasing in India

India is urbanizing at a blazing speed, and one of its defining features is the rise of commercial spaces—high-end shops, malls, and offices that exude style, sophistication and suave. Rented in almost all cases, these spaces, with their prime locations, sizes, thoughtful layouts and sumptuous interiors, fuel profitability for both landlords and tenants. For customers and visitors, these developments mean having brands like Reliance, Tata, AV Birla, HDFC Bank, ICICI Bank, and MNCs such as Starbucks, Sketcher, Levis, and Adidas nearby. In Maharashtra, if there’s one name that has played a crucial role in making such realty a reality, it is Dippak Khaade. From Engineer to Realty Expert Born into a family with deep roots in real estate, Dippak’s occupational journey began with (of all things!) an engineering degree in IT from Sangli’s Walchand College of Engineering. Shortlisted by an IT major, he left it there when he realized his true passion: to be where money flows, first in stocks, then commodities trading, where he managed multiple offices across Maharashtra. Moving with the right folks and given his family’s deep roots in the field, he eventually veered around to real estate. In 2016, he transitioned into property leasing, leveraging his financial acumen to create unmatched opportunities for himself and all those who formed the ecosystem. In under a decade, Dippak has brokered significant deals, including: A single transaction securing 136,000 sq ft of space for Reliance Retail. Leasing a total of 10,30,000 sq ft from when he entered the field in 2016. A Unique Approach to Leasing Unlike traditional consultants, Dippak integrates technical, legal, and financial assessments, ensuring clients make informed and profitable decisions. His expertise minimizes risks and accelerates transactions. “If a consultant understands only one aspect of a deal, the process slows down. My all-encompassing approach ensures efficiency and success,” he explains. By reducing intermediaries, he streamlines negotiations, enhances credibility, and provides seamless services to both landlords and corporate tenants. Comprehensive Range of Services Dippak’s approach is more than just bringing parties together; it’s about offering a structured, hassle-free leasing experience. His services include: Technical Assessments: Evaluating structural compliance, façade specifications, and feasibility. Legal Due Diligence: Verifying ownership, ensuring clear titles, and streamlining documentation. Financial Structuring: Advising on rental feasibility, escalation clauses, deposits, and taxation. Built-to-Suit (BTS) Solutions: Custom-built commercial spaces tailored to MNC retailers. Market Insights: Data-driven analysis of footfall, competitor presence, and rental trends. His BTS solutions have been a game-changer, enabling retailers to establish customized commercial properties aligned with their specific needs. The Future of Real Estate With a booming GDP, an expanding middle class, and increasing urbanization, India’s real estate sector is on the verge of exponential growth. “India’s youth is shaping today’s real estate trends. The industry has barely scratched its potential,” Dippak asserts. Standing Out in a Competitive Market In a field dominated by brokers focused on deal closures and commissions, Dippak’s emphasis on quality, fairness, and transparency sets him apart. Unlike those who rush transactions, he prioritizes precision—sometimes waiting five years for a deal while earning referrals from satisfied clients. A Game-Changer in Property Leasing In the high-stakes world of corporate leasing, Dippak combines market intelligence, financial expertise, technical know-how, and a personal touch. His ability to match top corporates with the right properties while securing profitable deals for landlords makes him a key player in the industry’s future. As the sector gears up for more significant expansion, professionals like Dippak Khade will play a pivotal role in shaping a more transparent, lucrative, and structured real estate landscape.

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Vastu Veda’s Healing, Vastu & Astrology: Ancient Must-Haves for a Modern Living

In today’s fast-paced world, balance isn’t a luxury—it’s a necessity. Vastu Veda empowers individuals and businesses to harmonize their lives using the time-tested sciences of Vastu Shastra, KP Astrology, and Holistic Healing. This is not about superstition. It’s about aligning your environment, timing, and energy to create a life of clarity, health, and fulfillment. Vastu Shastra: Energy in Architecture Vastu Shastra is the ancient Indian science that explains how the energy of a space can influence well-being. At Vastu Veda, we study the layout, direction, and energy patterns of your home or office to identify imbalances that may be affecting your life. For example, reorienting your entrance may bring more opportunities, while correcting the kitchen layout can improve family harmony and health. These are personalized, practical changes—not one-size-fits-all fixes. Vastu benefits include: Boosting financial flow by correcting energy blocks Enhancing peace and productivity at home or work Strengthening relationships through space rebalancing KP Astrology: The Science of Timing Krishnamurti Paddhati (KP) is a precise and advanced form of astrology. Using star-based calculations, it offers insights into life events, choices, and challenges. With KP Astrology, we help you: Make informed career and investment decisions Understand compatibility in relationships or marriage Anticipate health cycles and prepare accordingly Choose the right timing for important actions Unlike traditional methods, KP offers clarity without confusion—and always with remedies where needed. Healing: Aligning the Inner Self Healing completes the triangle of transformation. Our therapies address emotional baggage, energy imbalances, and mental fatigue, often caused by the demands of modern life. We offer: Pranic Healing to cleanse and recharge the energy body Chakra and Crystal Therapy for emotional and spiritual balance Mantras and Yantras to shift vibrational patterns. When combined with Vastu and Astrology, healing accelerates change and deepens self-awareness. The Vastu Veda Approach What makes Vastu Veda unique is its integrated, personalized approach. Whether you’re facing a specific problem or seeking holistic growth, we tailor solutions using a powerful blend of ancient wisdom and present-day insight. Book a Consultation Today! Book Your Consultation Today Your space reflects your state. Your stars reveal your path. Your energy carries your potential. Let Vastu Veda help you realign, reawaken, and rise. Suumit Toke Vastu Consultant and KP Astrologer, Vastu Veda +91 86696 69973 [email protected]

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Pune Commercial Real Estate Market

A Comprehensive Overview of CY 2022-2024 Trends This report delves into Pune’s commercial real estate landscape, analyzing demand, supply, and rental trends from CY 2022 to CY 2024. With a 12.1% vacancy rate and a robust pipeline of 26.4 msf under construction, we explore key lease transactions, demand distribution across sectors like IT/ITES, BFSI, and co-working spaces, and the evolving supply dynamics for 2025. Highlighting the prime locations witnessing strong demand, this report provides a detailed snapshot of Pune’s commercial market performance and future outlook. Abhishek Kiran Gupta CEO, CRE Matrix & IndexTap  

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Building a Sustainable Future: Reducing Capital Costs Through Green Real Estate Practices

  Hyderabad 2015.05.29 – swaraj samaaj Go Local. It shall save the Globe and everything Global!At the NAVIGATE 2025 conference in New Delhi, and thanks to the opportunity provided by Mr. Rishi Raj and Mr. Arjun Gandhi (the CEO and Head, Marketing – Max Estates) I raised a critical question: In our pursuit of short-term gains, are we sacrificing the future of real estate—and our country? Satellite images of Bengaluru, Hyderabad, Delhi, and other cities reveal unchecked urban sprawl, worsening traffic, pollution, and declining quality of life. Residents flee cities for clean air and open spaces at every opportunity. How did we get here? The Illusion of Globalization We’ve been conditioned by hegemony—subtle domination—to believe cities worldwide must mirror western models to drive wealth. But western-style consumption has led to climate crises, pollution, and unsustainable urban deficits. New York City, for instance, spends $300 Million to $1.3 Billion daily to function but generates only $277 Million in revenue. Do we have to repeat this mistake? The Solution? Go Local! Here’s how: Wear Local Clothing Western Business Suits increase AC demand. Japan’s Cool-Biz Campaign (2005) promoted summer casuals & raised AC settings to 28°C. leading to saving millions of tons of CO2. Why can’t we? Revive Ceiling Fans  Our National Building Code shows ceiling fans enhance comfort even at 34°C. At 10% energy of ACs + downsized ACs, you save on the project’s capital & operational costs. Question AC Dependency ACs add to *heat – up to 70⁰C adding to urban heat. Recall how reduced AC usage during Covid-19 cooled our cities? With intelligent A/C sizing + considering basic passive design features, we helped a developer in Pune save Rs 15 to 40 per sq ft in capital costs alone! Eat Seasonal, Local Food Foreign foods need refrigeration at every stage adding to high energy consumption! As nutritionist Rujuta Divekar emphasizes, seasonal foods align with our metabolism, boost immunity, and reduce carbon footprints. And hey, they also lower the need for for ACs as well! Yes, eating and drinking local stuff in summer can keep things cool naturally- including our bodies. Leveraging our resistance to Heat Indians tolerate heat better than cold. Raising AC temperatures to 28–30°C reduces peak loads and project costs. Combed with ceiling fans, right clothes and local food, we’ve the right recipe to battle climate change! Design for Local Climates  Avoid Western thumb-rules. Passive strategies such as proper orientation, optimal window to wall ratios, good shading, lighter colors, etc. lower cooling needs and costs. Embrace Natural Ventilation A recent TED talk by Jessica Green mentioned that AC environments have the same Air Microbial Landscapes (AML) as human skin and spit whereas naturally ventilated spaces have the same as the bacteria in our gut- a healthier alternative to remain disease free. Ensuring natural ventilation in our properties can ensure long-term benefits for our occupants. Optimize Water Systems At 310 LPCD, the per person water consumption in the US dwarfs India’s 135 LPCD. Green norms shrink this further to 75 LPCD. That said, has your green consultant recommended lower overhead storage tanks, pumps, pipe cross sections, and STPs on such reduced calculations? This is a sure recipe to lower capital costs. Reject Dark-Colored Buildings Dark facades in the Indian context absorb heat, increasing cooling demands. Stop aping blindly and go for light colors that reflect heat and reduce aircon needs. Plant Native Trees  Peepal, Neem, Bargad, Bel, etc. are trees gifted by nature & offer cooling that equals 100+ tons of refrigeration. Palms on the other hand, though low-maintenance, disrupt biodiversity. Which do you think is better? The Big Question As Dr. Sunita Purushottam (Mahindra Lifespace) asked: Is real estate’s future at risk due to its environmental and social impacts? Urban investments may decline as air, water, and health deteriorate. The solution? Embrace local wisdom before it’s too late. Ar. Gaurav Shorey Founder Member -Swaraj (NGO), Director – Psi Energy Pvt. Ltd., ECBC Master Trainer, Founder Member – GRIHA, Visiting Faculty – SPA, New Delhi. [email protected]

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Beyond Bricks: Women’s Leadership Initiative: Redefining Leadership in Indian Real Estate

Pioneering Transparency and Ethics in Real Estate In an industry traditionally dominated by men, Ms. Alpana Sanjay Agarwal stands as a trailblazer, redefining leadership through transparency, ethical practices, and innovative strategies. As chairperson of the women’s wing of NAR-India , honorary secretary Rajasthan Realtors Association and a key member of the RERA Rajasthan conciliation committee, she plays a pivotal role in shaping policies that promote fairness and professionalism in the Indian real estate sector. Her commitment to driving positive change has earned her a well-deserved reputation as a transformative leader. Jaipur Dream Realtors: A Legacy of Trust and Excellence Founded by her husband Mr. Sanjay Agarwal, Jaipur Dream Realtors Pvt. Ltd. has grown into one of Rajasthan’s most trusted real estate firms, with a strong presence across India. Today, under the capable leadership of Ms. Alpana Sanjay Agarwal and their son, Mr. Sanyam Agarwal, the company continues to thrive, offering expert advisory, investment solutions, and property management services. Renowned for its integrity and customer-centric approach, Jaipur Dream Realtors specializes in both commercial and residential real estate, helping clients make informed and profitable property decisions. Their dedication to ethical business practices has solidified the firm’s reputation as a beacon of trust in the industry. Expanding Horizons with Terrayo Ms. Agarwal’s influence extends beyond Jaipur Dream Realtors. As the Director of Terrayo, she is steering the company toward becoming one of India’s leading commercial real estate advisory firms. With a focus on strategic growth and innovation, she aims to position Terrayo at the forefront of India’s evolving real estate landscape, offering expert solutions for large-scale commercial projects. A Visionary Beyond Business Ms. Alpana Sanjay Agarwal’s accomplishments are not limited to business alone. With a Bachelor’s in Science, a Master’s in Arts, and a B.Ed. from Rajasthan University, she combines academic excellence with practical expertise. Her diverse interests in philanthropy, travel, art, and interior design bring a creative and compassionate touch to her professional endeavors. She believes that real estate is not merely about transactions—it is about creating meaningful, sustainable, and inspiring spaces. Building a Lasting Legacy Ms. Alpana Sanjay Agarwal’s journey is a testament to resilience, vision, and impactful leadership. By carrying forward the legacy of her late husband, Mr. Sanjay Agarwal, and guiding Jaipur Dream Realtors alongside her son, Mr. Sanyam Agarwal, she is shaping the future of Indian real estate. Her unwavering dedication, ethical principles, and innovative mindset ensure that she is not just building properties she is building a lasting legacy that will continue to inspire generations to come. Alpana Sanjay Agarwal Founder, JAIPUR DREAM REALTORS PVT.LTD. [email protected]

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Repo Rate Cut – Impact on Real Estate

Mumbai, 9th April 2025: RBI’s decision to reduce the repo rates by 25 bps (to 6%) second time this year was expected to the backdrop of moderating inflation. Home loan borrowers may not see much meaningful or immediate interest rate relief. Banks have not transmitted earlier MPC rate cuts to borrowers because of higher funding costs, pressure on net interest margins, higher NPAs, and a cautious lending climate. If banks do pass on the benefits of the last two rates cuts, it will be a boost to homebuyers, particularly for those eyeing affordable housing. Many first-time homebuyers who had been hesitating to take the plunge may make their move if home loan rates reduce. Housing prices have risen across the top 7 cities in the last one year. As per ANAROCK Research, Q1 2025 saw average housing prices rise by anywhere between 10-34% in the top 7 cities, with NCR and Bengaluru recording the highest 34% and 20% jump, respectively. The average prices in top 7 cities collectively stood at approx. INR 7,550 per sq. ft. in Q1 2024-end, while in Q1 2025-end it increased to approx. INR 8,835 per sq. ft. – a collective increase of 17% annually. Home loan borrowers whose lenders don’t pass on the rate cut could consider negotiating a lower rate or a balance transfer. They should keep their expectations realistic as there may be only partial relief, if any. Any potential EMI reduction should be used to prepay home loans or invest for higher returns instead of on mere consumption. By Anuj Puri, Chairman – ANAROCK Group

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Priyanka Chopra Jonas’ Family Leases Koregaon Park Bungalow to Co-Living Firm

Pune, India – April 8, 2025 – The family of renowned actress and global icon Priyanka Chopra Jonas has leased their bungalow in Pune’s upscale Koregaon Park area to a co-living company. The property, situated on a 3,754-square-foot plot, has been leased for a monthly rent exceeding ₹2 lakh. ​ Free Press Journal The bungalow, known for its prime location and spacious layout, is expected to cater to the growing demand for premium co-living spaces in Pune. This move aligns with the trend of celebrities investing in real estate ventures that support modern urban living solutions.​ Priyanka Chopra Jonas, celebrated for her contributions to the entertainment industry both in India and internationally, continues to maintain strong ties to her hometown of Pune. This recent development underscores the family’s commitment to contributing to the city’s evolving residential landscape.

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Maharashtra Government Hikes Ready Reckoner Rates for 2025-26; Property Prices to Increase

Mumbai, 1st April 2025: In a move that is set to impact property buyers, sellers, and real estate investors across Maharashtra, the state government has officially announced an upward revision in Ready Reckoner Rates (RRR) for the financial year 2025-26. The revised rates, which are used to determine property values for stamp duty and registration charges, will come into effect starting April 1, 2025. According to a notification issued late on Monday (March 31) by the State Registration and Stamps Department, the average hike in RRR across Maharashtra stands at 3.89%. The announcement marks the first revision since 2022-23, with speculation having earlier hinted at a potential increase of up to 10% in certain regions. Mumbai, the commercial and financial capital of the state, will see a 3.4% hike in RR rates—slightly below the state average. While this may come as a relief for homebuyers in the city, several key urban centers have witnessed steeper increases with Thane at 7.72%, Solapur at 10.17%, Ulhasnagar at 9%, Navi Mumbai at 6.75%, Nashik at 7.31%, Pune at 4.16% and Panvel at 4.97%. Municipal corporation areas outside Mumbai have collectively registered an average increase of 5.95%, whereas rural areas have recorded an average hike of 3.7%. Industry experts believe the revision may lead to a marginal increase in the cost of property transactions, especially in regions that have seen significant hikes. Prashant Sharma, President, NAREDCO Maharashtra “The increase in Ready Reckoner rates across Maharashtra is a significant development that will directly impact property valuations and, subsequently, the overall cost of acquisition for homebuyers. While we understand the government’s intent to align RR rates with market realities, this hike comes at a time when the sector is moving steadily and affordability plays a key role in driving demand. This increase may deter fence-sitting buyers and put pressure on developers already grappling with high input costs. We urge the authorities to adopt a more calibrated approach to such revisions to ensure sustainable growth of the real estate sector.” Shraddha Kedia-Agarwal, Director, Transcon Developers: “The increase in Ready Reckoner rates will have a cascading effect on overall property pricing, especially in prime urban markets like Mumbai where the base property prices are already high. It impacts stamp duty and registration charges, thereby increasing the burden on end consumers. While real estate has seen encouraging momentum over the last few quarters, such policy moves should ideally be introduced gradually to maintain market sentiment and buyer confidence. We hope the government considers sectoral feedback while rolling out future revisions.” Samyak Jain, Director, Siddha Group: “The recent adjustment in RR rates could influence the demand trajectory observed in recent months, particularly for first-time homebuyers and the affordable housing segment, where even slight cost variations can be impactful. Developers may also need to navigate pricing and planning considerations, especially for ongoing projects. While we appreciate measures that enhance transparency and fair valuation, a phased revision approach could help sustain real estate momentum and ensure a smoother transition.”

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Real Estate Sector: A Key Pillar of the Indian Economy

Mumbai, 27th March 2025: The real estate sector is a cornerstone of India’s economic framework, contributing substantially to GDP, employment generation, and infrastructure development. As global economic uncertainties persist, it becomes more important than ever to strengthen and sustain the growth of the Indian real estate industry. However, certain regulatory bottlenecks and policy ambiguities are currently hindering the sector’s progress. Swift and constructive intervention is essential to ensure continued momentum. Key Challenges Facing the Real Estate Sector 1. Environmental Clearance (EC) Roadblocks: The procedure to obtain Environmental Clearance under the EIA Notification, 2006 has grown more complex, particularly for projects located near eco-sensitive zones. The 2014 notification by the Ministry of Environment, Forest and Climate Change (MoEFCC) exempted certain real estate projects listed under Item 8(a) and 8(b) from General Conditions, allowing for State-level appraisal. Recent regulatory changes, however, have led to uncertainty on whether these projects now require Central-level approvals. Nearly 50% of projects in Mumbai are at risk of prolonged delays due to this ambiguity, affecting both housing supply and sectoral growth. A simplified and transparent clearance mechanism is essential to support timely project delivery without compromising environmental norms. 2. RG Podium Regulation Confusion: Real estate developers are facing a lack of policy clarity regarding recreational spaces in projects. While the DCR 1991 mandated open spaces at the ground level, the DCPR 2034 allows partial allocation of such spaces on podium levels. This inconsistency is leading to delays in project approvals and cost escalations. A uniform and well-defined regulation is necessary to avoid misinterpretation and ensure seamless planning and implementation. 3. Aviation Height Restrictions Hindering Growth: Civil aviation rules governed by the Aircraft Act, 1934 and Civil Aviation Requirements (CAR) guidelines are placing stringent height limits on projects in Mumbai, hampering vertical development in a city where horizontal expansion is severely constrained. Updates in regulations from GSR 751(E) to GSR 770 (E) have introduced stricter height limitations, particularly the five nautical mile (5NM) protection zone, which is being applied beyond its intended scope. Inconsistent application of shielding benefits and arbitrary height restrictions are creating unpredictability in approvals and deterring investment. A balanced policy framework is needed that safeguards aviation norms while supporting planned urban expansion. Commenting on the current scenario, Prashant Sharma, President, NAREDCO Maharashtra, said: “The real estate sector has the potential to be the backbone of India’s economic resurgence, but regulatory ambiguity is slowing down its stride. It is imperative that government bodies and regulatory agencies work together with industry stakeholders to streamline the approval processes, bring consistency in policy implementation, and ensure that urban development can progress sustainably. Timely interventions in resolving the environmental clearance issues, RG podium interpretations, and aviation height restrictions will unlock the true potential of real estate in Maharashtra and support our collective vision of Housing for All.” Addressing these pressing challenges is vital to sustaining growth, enhancing investor confidence, and ensuring housing supply in urban centers like Mumbai. NAREDCO Maharashtra stands committed to collaborating with authorities and stakeholders to promote a balanced and forward-looking real estate ecosystem.

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