Real Estate Magazine

Author name: dreamspersqftmagazine

Vol. 1 Issue 3

Redefining Pune’s Skyline: One Place FC Road From the iconic spire of the Empire State Building in New York to the sleek and modern design of the Petronas Towers in Kuala Lumpur, from the towering heights of the Burj Khalifa in Dubai to the impressive infrastructure of Marina Bay in Singapore, landmark buildings have long captured the imagination and defined the identities of cities around the world. These structures, with their impressive size, distinctive architecture, and iconic presence, have become the very symbols of their respective cities, instantly recognizable and revered by all who see them. One Place FC Road is set to join its ranks as it rises to redefine the skyline of Pune, India. This grand and majestic project, with its towering 110-meter tall tower and unique design, is poised to become a beacon of progress and a symbol of pride for the city and its people, a shining testament to the vision and ambition of its developers, Mittal Brothers. Yet, One Place FC Road is more than just an impressive and iconic structure. It is also a testament to the values and principles of the Mittal Brothers, the well-respected and successful developer behind the project. The company is committed to sustainability, with a focus on energy efficiency, water conservation, and the use of eco-friendly materials. They also prioritize the well-being and safety of their customers and employees, with features such as a centrally monitored security system and a firefighting system that meets all relevant codes and standards. Expertly Designed and Built to Last: The Amenities of One Place FC Road In addition to its unique design and amenities, One Place FC Road is setting a new standard for sustainability in commercial real estate development. The building will feature energy-efficient glass windows that help to reduce heat gain and loss, resulting in lower energy costs for businesses and a more comfortable working environment. The building’s HVAC (heating, ventilation, and air conditioning) system will also be designed to minimize energy consumption and improve indoor air quality. In addition to its focus on energy efficiency, One Place FC Road will also prioritize water conservation, with features such as low-flow toilets and water-efficient landscaping. The use of eco-friendly materials, such as recycled construction materials and low-VOC (volatile organic compound) paint and finishes, will also help to reduce the building’s environmental impact. With its impressive size, unique design, and commitment to sustainability and safety, One Place FC Road is a commercial real estate project that is truly visionary and innovative. Its strategic location on FC Road, along with its proximity to major transportation hubs and amenities, make it a prime destination for businesses and visitors alike. The One Place by Mittal Brothers has quickly established itself as a leader in the world of commercial real estate development, with a portfolio of impressive and iconic projects that have redefined the skylines of cities across India. From the grand and majestic One Place FC Road, which towers over the city of Pune, to the sleek and modern One Place Baner, which sits at the heart of one of the city’s most vibrant neighborhoods, and the highly celebrated One Place Wanowrie, which sets a new standard for luxury and convenience in the city of Pune, One Place has become synonymous with luxury and sophistication. But the brand’s success is not limited to these three projects. The company has a number of other projects in the pipeline that promise to set new standards for luxury and convenience. These developments, along with the others in the One Place portfolio, are sure to cement the brand’s position as the most premium and luxurious office space provider in India. With its commitment to excellence, innovation, and sustainability, One Place is poised to become a beacon of progress and a symbol of pride for the cities in which it operates. Luxury Meets Convenience: The 5-Star Hotel Experience at One Place FC Road For the first time, One Place FC Road is bringing a 5-star hotel experience to a commercial building. From the moment you step into the lobby, you will be enveloped in luxury and sophistication. The space is designed to impress and inspire, with elegant finishes, exquisite artwork, and a warm and welcoming ambiance. The lobby serves as the centerpiece of the building, a place where people can gather, socialize, and relax. However, One Place FC Road’s luxury lobby experience doesn’t end there. The building also offers a range of amenities and services that are typically found in a 5-star hotel. These include a valet service, where trained professionals will park your car for you and have it ready and waiting when you need it. This service is particularly convenient for business owners and executives who are short on time and need to quickly exit. Additionally, the building also offers a range of other amenities and services that are designed to make your experience at One Place FC Road as comfortable and convenient as possible. Whether you are a business owner looking for new office space, a retailer seeking a prime location, or just someone who wants to experience the city in a new and exciting way, One Place FC Road has something to offer. The building features a large floor plate with more than 10,000 square feet of carpet area, as well as a clear floor height of 12 feet, making it an ideal location for any corporate service. The building also features a large car park that can accommodate more than 400 cars and a food court and retail spaces on the ground floor and first and second floors. The building also boasts a large atrium and a large terrace garden on the top floor, providing plenty of space for relaxation and enjoyment. Mittal Brothers is more than just a successful developer of commercial real estate projects. It is a company that values its employees, recognizing them as the cornerstone of its success. The company is dedicated to creating a positive, supportive, and empowering work environment

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Vol. 1 Issue 1

Speaking volumes of success! A leading realtor, Satish Magar came into this profession purely by chance. The Magar’s had ancestral property that was within city limits. According to 1982 draft, it was proposed that this land would have to be surrendered for construction to meet the needs of growing urbanisation. In 1987, they gave a tough fight to retain the agricultural status of this land. However, people around began construction of buildings and it was not possible to stay as an island in the city. So, they gradually started development. Inclusive growth was the main concept. They grew by partnering with land-owners and entrepreneurs. They always lived in harmony. They had accepted that they could not pursue agriculture any more. Industrial acquisition and construction were growing rapidly. They realized that they had to go with the change and so they gave their hearts to it. After success of Magarpatta they felt as if they could do anything. They moved on to Nanded city project. They proceeded in the same fashion by bringing farmers together. Within no time they had 7500 bookings in hand at a very good rate but the plan was not yet sanctioned though they had taken environment clearance. They peeped within to see whether they had the capability to build so many flats on their own. Sensing incapability, they had to return people’s money and restart. There is no point in becoming over ambitious. One should first build one’s capability and then take up huge projects. They had to survive in the gap of 1.5 years. The market had changed, speculative buyers were in competition. They learnt a lesson that one should always deliver what has been promised. There should be no compromise in quality. Post pandemic requirement was for an additional room; taking isolation and work-for-home scenario into consideration. Earlier there would always be an extra room which got replaced in flat culture. Each one wants his or her own house. This urge gave a boost to this business. Pandemic also brought in digitalization and e-commerce. New changes were on the threshold and Satish Magar foresaw how Pune would be a hub of growing digital business. According to Satish Magar, realtors create assets that are permanent and have emotional value too. They provide not just houses, but homes that have psychological bonds too. He also reflects on the last two years of the pandemic when every profession faced a set-back. Financial discipline is very necessary to combat unforeseen problems. Only then can one sustain. He also underlines that they were wrong in not using social media for advertising and for underestimating the power of channel-partnering. They have taken up these two things and decided to aggressively market their schemes. He advises newbies that there is no substitute for hard-work. One should do what one can and not what one wants! Sincerity and discipline in work takes you a long way. Mr. Satish D Magar President CREDAI National Founder of Magarpatta township development and construction co Ltd

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Bengaluru’s Real Estate and Tech Sectors Converge: CTRLS Data Centers and Intel Seal Lease Agreement

Sneha Niwate Bengaluru, 9th August 2023: In a significant development within the real estate landscape of Bengaluru, two prominent players have entered into a strategic agreement. CTRLS Data Centers Ltd, a leading data center operator, has joined hands with Intel Technology India Pvt Ltd, a global technology giant, for a high-value lease agreement. The agreement entails the licensing of two prime properties situated within the Bengaluru DC1 Building, located in the bustling area of Veer Sandra, Electronic City. The license, which spans a period of 36 months, establishes a firm commitment between the parties involved. The first property, situated on the 1st Floor, boasts an area of 2,500 square feet. Intel Technology India Pvt Ltd will be paying a monthly rent of Ra 11,25,000, translating to Rs 450 per square foot. The second property, an expansive space located on the 7th Floor, spans an impressive 9,036 square feet. The monthly rental for this space has been set at Rs 36,14,400, at a rate of Rs 400 per square foot. The license comes with specific terms, including a lock-in period of 36 months for CTRLS Data Centers Ltd and 12 months for Intel Technology India Pvt Ltd. The license commencement date has been fixed as June 1, 2023. Notably, a partial area of 2,940 square feet on the 7th floor will have its rent commence from October 1, 2023. This collaboration is expected to have a far-reaching impact on the real estate and technology sectors.

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Building Success: Navigating the World of Real Estate Finance – CA Mohnish Katre

Finance plays a critical role in the real estate industry as it provides the necessary capital to purchase, develop, and maintain properties. Real estate investments require significant amount of capital, and finance enables individuals and businesses to access the funds needed to acquire and manage real estate assets. Real estate by its nature is a capital intensive industry. The real raw material to scale up the business is Capital. The developers can scale up their game if capital is available at the right time. The liquidity raised via finance at the right time and used for the desired purpose can significantly increase the ROI. Many institutional lenders have evolved to understand the real estate business and designed various lending models. It’s great to see the focused lending teams who understand the inherent nature of the business and then offer lending products. The real estate developer can consider raising finance at the early stage in the project where the approvals are just received and the sales have started. The projects where the stage of construction has progressed, lenders look at such projects more positively as there is some established track record of execution and sales. The quality of capital available is way better in case of structured finance which gives more flexibility to developers for deployment of funds.   Sources of Real Estate Finance Let’s explore some common types of real estate financing options available to developers and investors:     Traditional Bank Loans: Traditional bank loans are commonly used to finance real estate projects. These loans typically offer competitive interest rates and flexible repayment terms. Developers can utilize these loans for land acquisition, construction, or refinancing existing debt.     Construction Loans from NBFCs: Construction loans provide short-term financing to cover the costs of constructing a property. These loans often have higher interest rates due to the higher risk associated with the construction phase. However, they can be tailored to match the project’s cash flow requirements and typically offer interest-only payments during the construction period.     Joint Ventures and Partnerships: Collaborating with other investors or developers through joint ventures or partnerships is an alternative financing option. By pooling resources and sharing risks and rewards, developers can access additional funds to undertake larger projects.     Private Equity and Venture Capital: Private equity firms and venture capitalists are increasingly participating in real estate investments. These entities provide capital in exchange for an ownership stake in the project or the potential for significant returns upon completion and sale of the property. This source is limited to organised and especially listed developers.     Real Estate Investment Trusts (REITs): REITs offer an opportunity for individuals to invest in real estate without directly owning properties. REITs pool funds from multiple investors and use them to invest in various real estate ventures, including construction projects. Investors can benefit from regular dividends and potential capital appreciation.   Financial institutions such as NBFCs (Non Banking Fiancial Institutions) play a crucial role in providing access to capital for real estate projects. Here are some situations in which finance can be raised from financial institutions.     Land Acquisition: When developers identify a suitable piece of land for their project, they often need financing to acquire it. Financial institutions can provide loans or lines of credit to cover the land purchase costs, allowing developers to secure the desired property.     Construction Financing: Construction projects require significant capital to cover various expenses, including materials, labor, and overhead costs. Financial institutions offer specialized construction loans tailored to the unique cash flow requirements of these projects. These loans are disbursed in stages or based on specific milestones to ensure that funds are available when needed.     Bridge Financing: In certain situations, real estate investors or developers may require short-term financing to bridge a gap between the cash inflow from customers and the amount of payment required to get the approvals (in the form of TDR, Premium FSI and other statutory payment) which is required in the early stage of business. Bridge loans, provided by financial institutions, offer interim financing until the long-term financing is secured by the developer.     Inventory Finance (Last Mile Funding): Typically the projects which are at the last stage of development at times may have inventory of units which will be sold over the period of 12 to 24 months. In such situation, the real estate developer can consider the inventory finance where the future cash flow from this inventory will be discounted to current date and given to the developer. This inventory finance can be used for acquiring new projects or the use of funds for the general corporate purpose.     Structured Finance: Structured finance in real estate refers to intricate financial arrangements where multiple projects are combined to create tailored loan products. The objective of such fund raise can be for the scenarios such as giving exit to a partner or use of the borrowed funds to acquire another project. Financial institutions along with professional advisors devise such solutions.  In summary, the liquidity plays key role in defining the real estate operations and the ROI. The institutional funds if used with discipline, can fuel up the progress and drive more profitability.  Real Estate project finance in nutshell is discounting the future cash flow of the project and making it available to the developer to execute the project faster. Raising finance has become relatively easier in the recent time. If the developer has good execution track record, they can take help of institutional finance to scale up faster. By leveraging appropriate financing strategies, such as inventory finance or structured finance, developers can secure the necessary capital to acquire land, construct properties, and maintain inventories. With a proactive approach to finance, the potential for growth, profitability, and success in the real estate industry becomes within reach. So, seize the opportunities, explore the financing options available, and embark on your real estate ventures with confidence and financial support.   CA Mohnish Katre Partner

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Credai Pune Metro welcome state government’s IT Policy 2023

Pune: Ranjit Naiknavare, President, CREDAI Pune Metro said, “We welcome the new IT Policy 2023 announced by the Government of Maharashtra. It truly encourages digital transformation and will take us towards making Maharashtra a leading Digital Hub. The CREDAI Team, led by Amar Manjrekar, was coordinating with the concerned government departments for faster introduction of this policy. This policy will help in facilitating creation of the required infrastructure and jobs for skilled professionals which will directly – indirectly help the real estate segment.” The policy aims to attract new investments to the tune of 95000 Cr that can generate close to 3.5 Lakh new jobs which can eventually translate into an export of 10 Lakh Cr. If this target is achieved then the state will emerge as the technology capital through the balanced development of the state. The new IT Policy 2023 will make Maharashtra as the first choice of new IT companies that are looking for setting up their operations in India or for the ones that are looking for expansion. It will boost the demand for commercial space for the use of IT and ITES companies since it proposes a lot of benefits like a waiver of stamp duty, electricity duty, and water charges. IT and Data Center Industry would be allowed 24X7X365 days and would be under ESMA Act. To boost the presence of IT & ITES units across the state, the policy provides incentives, rental expenditure, electricity duty, Power Tariff, and property tax etc. Further, IT Parks or IT Units could be set up in residential, no-development & green zones are some provisions which will prove to be beneficial for the commercial segment in real estate. Additional FSI of 5 for Greater Mumbai while 4 for other areas. Relevant DCRs, CDCPRs & UDCPRs will be amended accordingly by all concerned Special Planning Authorities (SPAs). No premium will be charged for additional Floor Space index (FSl)’ in Vidarbha, Marathwada, Dhule, Nandurbar, Ratnagiri and Sindhudurg, while only 50% of applicable premium will be charged in other developed areas of State is also a welcome step and contribute towards well spread infrastructure development across various regions of Maharashtra.

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