The 10 Most Prominent Builders and Developers in Maharashtra

1. VOL 04 April 2019 ISSUE 04 THE 10 MOST PROMINENT BUILDERS DEVELOPERS & IN MAHARASHTRA

4. Editor From the Maharashtra: The Torch Bearer of the Indian Real Estate Sector A industrialization growth over the years, the real estate industry has witnessed a rapid growth that continues this year too. Be it the residential and commercial development in the business hub – Mumbai, Pune, Nagpur or the industrial townships that have emerged in the areas of Talegoan, Aurangabad, Nashik, Yavatmal and more, real estate is expanding all across the state. With the arrival of the Greenfield Airport project and Special Economic Zone in Panvel, Navi Mumbai has emerged as a hub of economic and residential projects with countless premium housing projects, mega-sized malls, hotels, and commercial establishments. With the continuous expansion in II-tier cities like Kolhapur, Nanded, and Amravati have evolved with time and the real estate prices have soared consistently. While textile industry dominated the proceeding in the early decades, the advent of new industries like IT, automobile, electronics, manufacturing are the current torch bearers who are driving the real estate sector forward. The reforms bought in by the Government last year had a temporary slowdown, but things have recovered nicely and is more transparent, quick and customer-centric. All these advancement create a positive eco-system for the real estate sector in Maharashtra and it continues to be the prime choice for investors, buyers, as well as for the industry giants. s one of the most industrialized states of India, Maharashtra is often labelled as the ‘Power House of the country when it comes to measure the contribution in the national GDP. Fuelled by the economic and K. Devasish Devasish Kanojiya

5. Editor-in-Chief Pooja M. Bansal Managing Editor Rahul Niraj Executive Editor Devasish Kanojiya Art & Design Head Amol Kamble Associate Designer Poonam Mahajan Art & Picture Editor Rahul Kavnekar Co-designer Mayur Koli Business Development Manager Akansha Garewal Sales Executives Sapna Sherakar, Tejaswini Whaval Technical Specialist Amar, Pratiksha Digital Marketing Manager Prashant Chevale SME-SMO Executives Manoj Shelge Circulation Manager Tanaji sales@insightssuccess.com April, 2019 Corporate Ofces: Insights Success Media and Technology Pvt. Ltd. Off. No. 513 & 510, 5 Flr., Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 Email: info@insightssuccess.in For Subscription: www.insightssuccess.in Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-602-1754 Email: info@insightssuccess.com For Subscription: www.insightssuccess.com th Cover Price : RS. 150/- https://twitter.com/insightssuccess Follow us on : www.facebook.com/insightssuccess/ Copyright © 2019 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success Media and Technology Pvt. Ltd. Reprint rights remain solely with Insights Success. Printed and Published by Insights Success Media and Technology Pvt. Ltd. RNI NUMBER: MAHENG/2018/75953

6. 08 COVER STORY TRANSFORMING FUTURE WITH PREDICTIVE INSIGHTS 14 CXO 20 INTERVIEW WITH INSIGHTS SUCCESS Expert's Opinion Housing Sales May Surge in Gudi Padwa 2019 Raghukul Constructions 26 A Rising Brand in the Real Estate Horizon Expert’s Voice The Story of Indian Real Estate \Industry: An Eye View 24 34 Expert’s quotes Words of Self-made Billionaires Insider’s Insight ARTICLE RERA: A Game Changer in the Real Estate Market

7. 18 Galaxy Group Laying the Foundation of Quality Karnani Builders & Developers Designing Cost-effective Dream Homes 22 Kshitij Builders & Developers Delivering Creative and Quality Dream Homes 28 30 Kundan Spaces Where Dreams Come Home MILLENNIUM Developers The Showstoppers of Real Estate Industry 36 38 The Baya Company Square Feet for Every Heart Beat

8. 10 PROMINENT BUILDERS & DEVELOPERS IN MAHARASHTRA MOST THE Creators of Tomorrow W To honor and acknowledge the contributions from the real estate industries situated in the state, we have designed the magazine - “The 10 Most Prominent Builders and Developers in Maharashtra”. In this edition, we have collated few of the noted players that have who have contributed to the development and success in expanding the footprints the real estate eco-system in Maharashtra. hile 2018 has been a year of countless transformation and evolution of the real estate sector in Maharashtra, the year 2019 promises to unveil new possibilities and expand the horizon of the real estate industry in the state. On the Cover of the magazine, we have crafted a unique infographic presentation that showcases various aspects of the real estate industry along with a predictive insight to the future of this sector. Unveiling the journey further, we have covered various entities that have performed exceptionally well and have shined in the market. Starting from the Galaxy Group, it is a regional, full-service real estate development and management company. Karnani Builders & Developers is a fast growing name in the Residential and Commercial segment of real estate. In its 25 years of existence, Kshitij Builders & Developers has entered the real estate sector with a vision of providing affordable Housing solutions. Kundan Spaces is a trusted real estate brand dedicated to delivering high-quality life and work environments. Millennium Developers that was incepted in 2014. It is one of the finest real estate developers, providing quality housing, where buyers get to live in their dream home, find fulfillment and enjoy the benefits of vibrant community living. Next we have is The Baya Company is one of Mumbai’s premier new-generation real estate developers. We have also included an interview along with CXO standpoint shared by the prominent leaders of the business arena. Additionally, our editor have penned a infographic content quoting the best motivational words spoken by global business leaders. So uncover this edition and explore the insights of the real estate developers in Maharashtra, presented to you in the most elegant way!

10. TRANSFORMING FUTURE WITH PREDICTIVE INSIGHTS SOCIAL MEDIA BUZZ HIGHLY AFFECTED SECTORS BY SOCIAL MEDIA Social media has evolved in early 2000’s. And, today it’s very hard to ignore the current influence of social media upon modern lifestyle with the continuously developing new platforms. On the other hand, social media platform is criticized for the lack of communication and poor uptake of technology and innovation. Lifestyle & travel Entertainment Health & fitness SOCIAL MEDIA IN BUSINESS Real Estate Social Media, today, provides a wide range of benefits to businesses including: fast specialist feedback/better communication; capable of reaching global audience; improve networks; improve awareness of a brand; enhance knowledge on current issues and initiatives/innovations; etc. Education On the other hand, not all business functions are equally benefitted, and in fact, it can be expected that some business functions are hugely benefited or impacted by social media usage while other functions have less or no impact. Beauty & Fashion Recruitment

11. REALTY CHECK MARKET SIZE Year - No of users in Billions 2.24 MEDIA IN CONSTRUCTION 2015 2.28 The media – be it any media – television, press or online media, it plays a vital role in notifying about the current happening in the world. And, particularly it is essential in those areas in which audiences do not possess direct knowledge or experience. 2016 2.46 In today's age, every business should be on the social media, including the construction businesses; even the businesses which are leading the market or else have just taken a step to build the market are on social media. The actual flow of essential information between distinct groups in the public sphere has been possible just because of the media, which systematically edits and interprets the mass information, making some sense of the world for audiences. 2017 2.62 2018 Social Media has benefited in construction in many ways including: business development, knowledge management, marketing/advertising, competitive advantage and brand and industry awareness. The potential benefits of social media implementation pave the way for economic and social sustainability in a business environment. 2.77 2019 2.90 SHOWCASING LIVING EXPERIENCES 2020 3.02 Social networking is increasing continually and expected to grow further. As per an independent research, it is found that in 2018, more than 70% of the public was using social media channels. And, by the end of 2020, probably the total number of public engaged by such platforms is expected to reach over 3 billion users. 2021

12. SOCIAL MEDIA EMPLOY? GOVERNMENT INITIATIVES 2015 2018 85% 97% RERA Real Estate Regulatory Act Increase 12% GST Goods and Services Tax BTA Benami Transactions Act SOCIAL MEDIA PLATFORMS THAT MADE MOST BUZZ THIS YEAR Top 7 Social Media Platform 97% 54 MILLION CONSTRUCTION COMPANIES! WHY TO USE SOCIAL MEDIA? Changing Goals 87% 23.2 MILLION 86% 300 MILLION 60% 225 MILLION Initially, brands were using social media simply to connect the audiences. 30% 75 MILLION Now, these channels serve a wide range of different needs. 15% 176 MILLION • BRAND Building and Awareness • ATTRACTING New Customers • INTRODUCING New Products and Services • UPHOLDINGCurrent Customers • SHARING Brand Promotions, Coupons, etc. 28%

13. SOCIAL MEDIA TRENDS TOP 5 Aim: Share relevant information Solution: Educate your customers and position yourself as an industry leader Aim: Publish frequently Solution: Create Facebook, LinkedIn, Twitter, etc. social media profiles for your company and post on each network. Aim: Keep styles consistent Solution: Create style guide and use it to be consistent across all channels Aim: Track everything Solution: Employ metrics to track visitors, refers and ROI across channels Aim: Review AND Revise Solution: Analyse, Review and Repeat using your matrices. Keep what's working, tweak what's not.

14. POWER OF SOCIAL MEDIA At this stage, it's not a good move for any industry to ignore social media. As all the above data shows, it's a key element of every brand's overall marketing strategy. With right guidance, deep dedication, attention and right amount of efforts, any company can reap the benefits of social media marketing. IN THE CONCLUSION NOTE Social media has become a magic wand that is defining the structure of society, forms a basic polarization and dissolutions and also ensuring the mergers and agreements. But, it is limiting and shaping the behaviour of individuals which are vital for the wider social change. The ideal Social Media is helping with the communications and collaborations in the construction sector and benefiting sustainability initiatives. “ Shruti P. Jmbhale ”

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16. Raghukul Constructions Pvt. Ltd. B stories, major mile stones: rief note on journey- Company, origin, inception, early challenges, success getting the building plan sanctioned, I could manage to get a personal loan of Rs.5000/- from a local cooperative bank which helped me starting Raghukul Constructions in the year 1989 in my mother’s name Nalini Bharade. Commencing a real estate venture with a capital of Rs.5000/- is an impossible task but with strong will power, determination and tremendous hardwork, it made me possible. lakh square feet of R.C.C. construction Shri. Dilip Bharade is associated with CREDAI and also has excellence in interpretation of DCR and always keen in offering vital inputs to local bodies where ever necessary. He personally looks after the planning and budgeting of new projects, sales and keeps close eye on quality and timely completion. Soft natured and well mannered, Mr. Bharade gets into personal bonds with the flat buyers to the extent that the relationship continues for future. Myself Dilip Raghunath Bharade is from an average middle class family, after graduating in civil Engineering, joined a government service where due to lack of job satisfaction and lesser opportunities to grow, thought of doing something of my own. After completion of first project well in time, got another one and since then there is a consistency in projects launching and completion. Later family, family members joined the activity to form a partnership firm. I must mention the support from family, friends and colleagues who helped a lot and all of them have taken and treated my work as priority. While continuing job, I started undertaking some petty construction works but the joy of doing such works never lasted long due to various reasons mostly because I was eyeing for something different and bigger. Concept of doing anything new was difficult to digest to the parents for two reasons one is mindset & another is finance. Mrs Maithili Dilip Bharade is another Director of the company. Shri. Sandeep Shelgaonkar, also a civil engineer, is the C.E.O. of the company. He is associated since early days and looks after project management, execution, quality of construction, purchases and labour management. He possesses extra ordinary skills in situation handling with ease and temperament. Fortunately by virtue of sincerity, hard work and quality consciousness, Raghukul Constructions slowly entered into home seekers’ heart and carved a niche for itself. For any activity your mindset needs to be built accordingly. Since there was no financial support from family to be an entrepreneur, I started searching opportunities where a barter deal can be struck. Mean while my friends who have just entered in the real estate sector, helped me a lot in building a moral and mindset suitable to venture an activity of my own. Exclusive Services offered by company that distinguishes from competitors: Later on 2010, Raghukul Constructions Pvt.Ltd was incorporated under Companies Act. There are many more aspects that make Raghukul a distinguished destination……… Brief about Founder of company: After a little wait but rigorous efforts , I got barter deal in which the land owner agreed to assign me development rights in lieu of handing over him two constructed flats. Since no monetary transaction involved, it was a great opportunity to launch my first project named “Saptak”. For Dilip Bharade who is a civil engineer is the founder /key person and Director of the company, who has sound knowledge, experience, planning and techno managerial skills. Under his leadership and hardwork with strong and dedicated technical team, Raghukul has completed more than ten In view of the real assessment of the work done, The most important and unique aspect here at Raghukul is, the projects are never advertised, neither a hoarding nor a display is posted anywhere to the extent that no boards are put at project sites. The genuine buyers do approach, get their dream of | APRIL 2019 14 |

17. Interview with Insights Success residential apartment fulfilled with lot of ease and confidence and in turn become our brand ambassadors. Even after devoid of publicity, no flats remain unsold and the inventory at the completion is very few. utmost satisfaction without making compromises at any level. We also intend to enter the affordable segment of housing with the same commitment of quality and timely completion. A sustained and promising growth is the salient feature at Raghukul. four bed room flats of 2135 sft constructed in a tower of 17 storied high rise building. The projects having area of approximately two lakh square feet are also in pipe line. There are a few redevelopment projects are also under proposal stage. The exclusivity of Raghukul lies in fair transactions, full transparency with humanity, quality & timely completion of project. We believe that the house is built once in life time and therefore we offer entire freedom to our buyers as regards choice of their specifications and interiors. We strongly value the life time investment of a buyer and always see to it that his satisfaction is our top most priority. Buyer friendly and suitable payment terms add Raghukul to the choice of the apartment buyers. A qualitative post sales service, quick redressal of teathing troubles in the building and formation of managing association while handing over possession make living pleasant and homely. With completion some Redevelopment projects, Raghukul has earned name and confidence in the segment of redevelopment as well. At Raghukul, a team of spirited personalities having full faith in thoughts, actions, creations and completion, work constantly day in and day out. All these projects are luxurious and with A class specifications mostly in heart of the city and are mend for luxurious living with locational advantages. All projects are RERA registered. Sincere, hard working and down to earth, our group with sound knowledge bank and updated technical knowhow, is committed to deliver. Having completed over a ten lakh sq.ft. of quality construction with fair transaction and timely completion, Raghukul is a brand in itself in the Real Estate horizon of the City of Nagpur. How the real Estate Industry has evolved in Maharashtra in last ten years? The real estate market has evolved excellently in last decade. The concept of apartment planning and quality has gone substantially up and the high end Humanity is the key word for Raghukul and have a faith that Landmark, legends and legacy are created by hard work, pursuance and perseverance with true and fervent sense of submission to ever supportive ALMIGHTY!!! Some of our recent projects are Shree Mohini Raj comprised of luxurious flats of 4200 sft & 3500sft, Krushna Kunj had a combination of 2900 sft & 1700 sft flats, Samarpan comprised of 2200 & 1900 sft, and Smruti has 3000 sft & 1900sft flats etc. All these buildings are luxurious and are located in heart of the city. Kindly introduce us to the current projects you are working on: We are working on three projects presently, one is Amrit Kalash at Bhagwaghar layout Dharampeth Nagpur, comprising of three bed room residential apartments of approx. 1500 sft. The project is nearing completion. Silver Estate, Silver Glory, Heights and Meadows all have two and three bed room flats in the vicinity of airport. Second one is Amrit Sarita at 92 Shivaji nagar Nagpur with a combination of three bed & four bed room apartments, Three bedroom flat are appox 1700 sft & four bed are 2600 sft. super built up area. The Vision and Mission of the Company: The vision of the company is to the continue and double the volume of activity and turnover in coming year and the mission is to provide services to the home seekers to their entire and Third is Kanchan Geet at 57, Park Road, Shivaji nagar, which has 32, APRIL 2019 | | 15

18. accordingly, reality market is sluggish now a days, but with certain changes is GST rates & structure we may envisage a growth in the reality sector which would be realistic but would certainly good for end users. As such the activity may turn out to be turn over based, rather than holding & waiting for appreciation. Very soon the industry may witness boost in affordable and luxurious sector, hence reforms may turn out to be Win-win for all. govt. is bound to open up new opportunities for the players in the industry who are work focused and quality conscious. We, at Raghukul are the technocrats at core and are always open to adopt all advancements with due care, analysis and diligence. We have our team of technical and analytical engineers who seldom look technology as a tool of progress and are always keen to adopt the same, once it is proved worthy. How technology and innovations has has helped real estate industry to transform from the earlier years? How are you moving forward or contributing to keep environment clean? and elite class who use to live in independent bunglows, now prefer to move in flats because of luxuries offered, Security, sharing of common expenses and amenities available. Over the years, it is observed that the prosperity is getting at all levels in the society to the extent that the single bed room flat owners are looking forward to go for a double bed room, the double bed room flat owners are going for three bed room flats and the owners of three bed room flats are opting for the bigger and luxurious one. The quality of construction has improved a lot and over all one may conclude that there is increased awareness is observed amongst builders & buyers as well. The technology and innovation always help increase work, workmanship & culture. R.M.C. HAS MADE CONCRETING VERY EASY & less cumbersome. The digitalization has made planning, accounting, submissions and approvals fast and easy. Mobile & internet accessibility help communicating field engineers, their office counter parts at fingertips. The mobile cameras & what’s app have made trouble shooting very easy and pin pointed. It has increased over all efficiency and effectiveness of the men, material & machinery. The geotechnical investigations, testing of concrete and other construction materials and its results enable the designers also to provide more sustainable and safe designs . As regards keeping environment clean, we prefer to go for less dusty, less smoky and less noisy construction practices. The concept of solar power and rain water harvesting are also widely implemented at our project sites though the construction of green building has not been adopted as a whole but our endeavor to provide green cover, energy efficient lighting and water conserving appliances is perpetually on. What is your take on “green buildings” and “smart cities”? As I said concept of green building and its construction is really good but to follow the same in apartment building is arduous due to plot sizes, its orientation and commercial viability in city areas. In large townships the green buildings can be constructed which may result energy efficient and environment friendly living spaces. The smart cities are taken up with an initiative to provide a digital, techno savvy, service efficient and environment friendly living conditions, is most appreciable project which may change the concept of city and city living in years to come. The govt. has introduced recent reforms and policies like RERA. How do you see the impact of these reforms in the real estate industry in the state? What kind of future advancements you expect in the real estate industry and how well equipped are you to face that change ? We at Raghukul were use to follow the system like the RERA since long for ourselves which has now mandated by govt in more explicit manner. The reforms in real estate sector are good adaptable and may help industry to grow. At present there is an era of transition, however in the long run the provisions of RERA & other reforms are helpful to buyer & developers as well. Every market has a cycle With affordable housing projects, Pradhan Mantri Aawas Yojana may offer boost to reality industry which may necessitate adopting prestressed, post tensioned/stressed and precast construction practices in near future. The never ever focus on housing by 16 | | APRIL 2019

20. GALAXY GROUP Laying the Foundation of Quality A world. Among various sectors that have flourished, the real estate industry is one such sector that has taken gigantic leaps and has been leading the industrial marathon over the years. With recent key policy initiatives introduced, the real estate industry is witnessing a paradigm shift with better transparency and structured solutions. The recent by Brij Gupta, Kubir Rekhi, and Sanjay Gawande who are the Founders and the Directors of the company. While Brij is an IITian, Kulbir and Sanjay have studied MBA from the US and a prestigious University respectively. All the Directors have their own individual companies under the name of Proviso Group, Tricity and Sai Proviso developers respectively. s the third-most urbanized state of India, Maharashtra has always been at the forefront in providing new opportunities to the business In the year 2006, it launched its first project that had 228 flats in a sprawling 80,000sq.ft of land. With more than a decade of existence, the Galaxy group has successfully completed four prestigious projects covering over 2 million sq.ft. Having a strong presence in the prominent cities including Mumbai, Navi Mumbai and Pune, it is steadily evolving as a major player of the real estate industry. In the commercial segment, Galaxy Group is evenly poised to stand amongst the torch bearers within a very short span of time. It has acquired over 1 million sq.ft of construction space in phase I & phase II in Hinjewadi, Pune which is home to some of the IT giants like Infosys, Accenture, IBM, Wipro and more. Alongside it has built a school campus spread across 1.2 lac sq.ft area which is operational and tied up with Global Indian International School Singapore. In addition, it has recommendation of 1% GST on affordable housing and 5% GST on another house will definitely fuel the market competition. The BKS Galaxy PVT Realtors Pvt Ltd is one such emerging player in Maharashtra that has managed to grab the eye-balls of the industry in quick succession. Conceptualized in 2005, the Galaxy Group is promoted Value for Every Square Foot 18 | | APRIL 2019

21. 10 PROMINENT BUILDERS & DEVELOPERS IN MAHARASHTRA MOST THE by shifting market conditions and changes in consumer behaviors, the Galaxy Group holds an optimistic outlook for the future. Technology and innovations in the industry continue to be the key factors and Galaxy Group and other emerging players are creating an opportunity to weave themselves into the new digital real estate ecosystem. The company has laid its focus on innovating effective solutions on waste management alongside incorporating Smart city concepts. By implementing organic waste-management systems, implied Rain-Water harvesting, water conservation process, and installing solar panels, the company is on the trajectory of ensuring a clean environment. Been an ISO 9001-2008 certified company; it’s motivated to walk the extra mile to ensure that the final product is not compromised. Ensuring maximum natural-light and designing the structure with optimum cross-ventilation within the IT parks that is in progress in Pune, Galaxy Group is progressing forward with a positive intent. In its endeavor to create architectural marvels and deliver customer satisfaction at the utmost level and craft unique services, Galaxy Group is committed to creating its own roadmap for the future. constructed a hospital over 1 lac sq.ft area, and combining all the spaces it has over 22 acres of land in Pune itself. Current Projects The latest offering from the Galaxy Group is BKS Airoli Apartments which is situated within the close vicinity of the Airoli Knowledge Park in Navi Mumbai. With over 75k IT professionals working in the park, the group has planned an architectural marvel consisting of 720 flats of G+21 towers having podium garden and a parking facility with 22 commercial blocks. Aiming to attract buyers, the project comprises of studio apartments, 1, 2, and 3BHK - with & without terrace having a price range between 50 Lacs to 1.25 Crores. Sanjay Gawande Founders & Directors urban areas were made to adopt green building concepts, India could save more than 8,400 megawatts of power, which is enough to light 550,000 homes a year. Sufficient technical background and an understanding of green building practices are needed for implementing these fundamental principles, so that a building can be considered a truly green building”. The IT parks in Pune that are under construction are loaded with commercial amenities. Having commercial units on the ground and first floors, it boasts of a rooftop restaurant, courtyard, gym and IT support services. Values that Matters Vision: Our Vision is to achieve the highest possible standards of the real estate industry while establishing our organization as the preferred real estate company within our market area. Green Buildings & Smart Cities As the world moves towards a greener planet and embraces the concept of smart cities, Galaxy Group is totally aware of the responsibilities and stands confident in embracing these concepts to save the planet. Explaining the idea of green buildings, it says – “Green building uses less energy, water and other natural resources creates less waste and greenhouse gases and is healthy for people living or working inside as compared to a regular structure. According to TERI estimates, if all buildings in Indian Mission: Our Mission is to provide accurate and up-to-date information, skilled analysis and sound real estate advice and to continually explore new ideas and technology, to make real estate faster, less costly, and easier. The Future Roadmap As the real estate sector is re-shaping APRIL 2019 | | 19

22. HOUSING SALES MAY SURGE IN Gudi Padwa 2019 udi Padwa is a traditionally auspicious time to G spring and the sense of renewal it brings is acknowledged across the country. Punjab has its Baisakhi, Andhra Pradesh has its Yugadi, Tamil Nadu celebratesPuthandu and Kerala knows it as Vishu. Historically, Indians have always seen certain dates as highly auspicious for property purchase and other wealth-creation measures. For this reason,property sales tend to spike up during festivals like Gudi Padwaand builders align various offers, schemes and discounts with them to encourage this brief phenomenon. In recent years, this trend came in on a more subdued note because of the prevailing conditions on the real estate market. In fact, Gudi Padwa in 2018 was anything but a vibrant time for the property sector. It was defined by significantly lower housing sales than developers would have wished for. However, 2019’s Gudi Padwa is very different. The slew of sops offered by the Government in just the first three months of the year - both in the recent budget and the most recent cut in the GST rates on under construction properties. Banks also recently lowered their home loan rates following RBI’s cut in repo rates. As a result, there has already been a distinct uptick in housing sales across the top 7 cities. This year, the auspiciousness of Gudi Padwa aligns with highly improved market sentiment. Even the usually subdued market environment which typically defines upcoming general elections is unlikely to play a spoilsport this season. Developers keep their finger on the pulse of the market and are gearing up for a very satisfactory surge in housing sales this Gudi Padwa. For them, the improved market sentiment cannot come a moment too soon, considering the slow sales and policy-induced compliance pressures that beset them in recent times. If we examine housing sales trends in Q1 2018, ANAROCK data indicates that around 49,790 units were sold during this period last year. 2019 is likely to see housing sales to have risen by at least 10-12% in the same quarter. In contrast, the first quarter sales in past few years had almost halved from 90,000 units in Q1 2015 to 46,000 units in Q1 2017, demonstrating negative buyer sentiments despite the traditional auspicious fervour of Gudi Padwa. Recent residential trends across the seven major cities clearly reflect that developers are responding to improving consumer sentiment by launching right-priced projects that meet the actual buyer demand. The market is being rewarded for embarking on its journey of increasing maturity, led by focused Government interventions to dispel the opacity that obscured its potential in previous years. Even though the financial crunch among developers, the issue of stalled or delayed projects and the high cost of capital continue to confound the market, the Government’s recent steps have paved the way for more resilient growth in the Indian residential realty. In fact, long-term investors - who were instrumental in driving up sales in previous years - are also staging a comeback this year (albeit with more realistic ROI expectations). In any case, this year’s Gudi Padwa will certainly see improved housing sales across the major cities. Builders can look forward to making some real progress on clearing unsold stock of nearly 6.73 lakh units in top 7 cities, and on sales in their newly-launched projects. invest in real estate in India. While Gudi Padwa is a Maharashtrian concept, the period of oncoming 20 | | APRIL 2019

23. Expert's Opinion About The Author As the Chairman ofANAROCK Property Consultants Pvt Ltd, Anuj Puri carries twenty-seven years of expertize in multi-disciplinary advisory and transactions ranging from real estate to social development projects. From planning, undertaking demand assessment studies, transaction services including marketing strategies based on technical real estate market analysis, feasibility studies, program requirement derivation, fund, and investor sourcing, he has done it all. Anuj Puri Chairman APRIL 2019 | | 21

24. KARNANI BUILDERS & DEVELOPERS Designing Cost-effective Dream Homes K Bangalore, the group is known for its high quality construction, transparency and timely delivery. Driven by the belief that strong foundations in quality would enable it to grow and succeed, the Group has rapidly scaled new heights in residential and retail asset classes. solutions and has been working with leading architects and designers who are vision enablers. They own and operate Elements Mall- one of the most popular malls in North Bangalore which also has the US 5 star hotel chain Howard Johnson inside. Other than Howard Johnson, more than fifty popular multinational Brands, such as Mc Donald’s, Dominos, Subway, KFC, Puma, Levi’s and many more across multiple categories have reposed faith in Karnani brand through lease & renewal. arnani Group of Companies has been in the real estate business for over five decades. Having delivered over 132 projects across Mumbai and The Group’s foresight and passion have made Karnani Builders & Developers, the flagship company under this group a name to reckon with in the fast growing Residential segment. A Guiding Visionary We reckon, Ambika City will become an ideal gated community in times to come This Group is headed by a young and dynamic visionary Anup Karnani, a qualified engineer with inherent skills of expertise and leadership. Under his guidance, the Group has scaled new heights by acquiring several properties and developing them independently. Today the group has carved a niche for itself in the quality of construction and the modern amenities provided in its projects. Design excellence and attention to detail is a hallmark of Karnani group; Anup likes to involve himself deeply with architects and designers during initial phase of the project and provides his inputs to guide the design process as per groups core beliefs. The effect of this association is very much reflected in the layout of apartments which come with a very efficient design and are aesthetically pleasing at the same time. The group believes in providing world class real estate 22 | | APRIL 2019

25. 10 PROMINENT BUILDERS & DEVELOPERS IN MAHARASHTRA MOST THE for construction and ensuring sustainability through Solar PV, STP, and Rainwater Harvesting amongst others. The innovative design by the architects has resulted in maximizing the inner space, that overall enhances the décor of the apartments. Keeping an eye on every minute detail, from effective storage area, sprawling living and bed rooms, the design adds to the aesthetic sense of the entire house. Embracing latest technologies and unique features, the Karnani Group ensures a premium living at competitive prices. Equipped with all the modern amenities like modular switches, weather shield paints, granite platforms, branded sanitary wares and much more, the group has evolved as the most preferred choice for the buyers. Spectacular Projects Each of the properties constructed by Karnani Group is an outstanding example of excellent planning and execution. Special care is taken to ensure that the customers get the maximum coverage in terms of area available for usage. Personal attention is given to each of the items used in all their projects ensuring high quality of fittings and fixtures with minimum wear and tear. Every item right from cement, steel, fixtures etc. have to pass very high quality control tests and there are regular inspections at every stage of construction. Anup Karnani MD It is not only the apartments but every aspect of the project which exemplifies quality. Best professionals in the industry are employed to create breath-taking landscaping and visuals. like school, clubhouse, nursing home, mall & multiplex, vast open green spaces etc., this project will be the most desired residential complex in MMR in the years to come. While still in the initial stages of development, this township has bagged awards like “Most promising upcoming township”. Another upcoming project of Karnani Group is located at Borivali West, Mumbai and named Rajnigandha. Karnani Group emphasizes in providing timely Possession of all its Properties completed in all respects including the “Occupation Certificate” and forming the Co-operative Societies as early as possible. Selling and finally handing over the possession of the flats marks just the beginning of the long association with their clients and they strongly believe in providing after sale services to each of the clients so that they are satisfied in all respects both as to the quality of workmanship and the accessories installed within the flats. Roadmap Ahead Ambika City – A Futuristic Project The Ambika City at Bhiwandi North is an exquisite mix of comfort and ambience that fulfils the dreams of every middle class household. On choosing this location, the group says, “Bhiwandi as a location is an ideal choice as it is poised for great infrastructural changes, at the same time, it allows for economies of scale that make it affordable today.” The gated community is designed to cater to needs of security, education, healthcare, retail and entertainment. It is also focussed on creating robust building structures for mid-income families who for long aspired for such product. The project has been packaged well with a school, a large shopping mall, medical centre, clubhouse, swimming pool and gym facilities. Utmost care has been taken in using earthquake resistant material Having a legacy of over sixty years, the group has crafted a pool of professionals in diverse spheres who are creating the pillars of success. Been associated with more than fifty multinational brands, steadily the company is progressing forward to attain new milestones. Winning the lease & renewal of space of Elements Mall - One of the most popular malls in North Bangalore is just a glimpse of what future holds for the group. The group is all set to explore the infinite possibilities and reach the epitome of success by innovating unmatched services, as well as setting benchmarks in the industry. The group has tied up with the leading financial institutions and provides active guidance and assistance in acquiring home loans to its clients. Karnani Group has fulfilled the aspirations of thousands of families by helping them acquire their Dream Homes in the prime localities. Their latest and most ambitious project called Ambika City is a 66 acre township and lies in the fastest growing corridor of MMR. Surrounded by hills and complete with amenities APRIL 2019 | | 23

26. “Failure is an option here. If things are not failing, you are not innovating enough.” –Elon Musk Expert’s quotes “To me, business isn't about wearing suits or pleasing stockholders. It's about being true to yourself, your ideas and focusing on the essentials.” –Richard Branson “It’s ne to celebrate success but it is more important to heed the lessons of failure.” –Bill Gates “Business has only two functions–marketing and innovation.” –Peter Drucker “Price is what you pay. Value is what you get.” –Warren Buffett “When you cease to dream you cease to live.” –Malcolm Forbes “Start where you are. Use what you have. Do what you can.” –Arthur Ashe “Great minds discuss ideas; average minds discuss events; small minds discuss people.” –Eleanor Roosevelt WORDS OF SELF-MADE BILLIONAIRES “Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn “It does not matter how slowly you go, so long as you do not stop.” –Confucius Be it any industry or segments, these would be an all-time motivated quests ?om the most successful entrepreneurs and established business tycoons of all times. Replication of success can only be achieved by emulating the thinking of successful people. With that mindset, this is a collection of some of the finest quotes narrated by renowned iconic personalities. Honoring and acknowledging these personas, I believe “Without innovation we would soon be Irrelevant” – Shruti Jambhale Editor , 24 | | APRIL 2019

28. About The Author: Vikram Jain CEO As the CEO of Gadgil Developers, Vikram Jain carries an extensive experience over eleven years and is a seasoned veteran in the real estate industry. With his wealth of experience and exemplary vision, he has helped build the group's reputation as one of the best real estate brands in Pune. He has been at the forefront in identifying and strategizing new business not only in Indian Markets but has also scoured various avenues across USA, UK & GCC markets through path-breaking strategies, successful business models and innovation. 26 | | APRIL 2019

29. Expert’s Voice The Story of Indian Real Estate Industry An Eye View R recession due to multiple factors like Demonetisation, GST, RERA, Liquidity Crunch, NBFC Crisis & many more. To understand the scenario in a simpler way, let’s see the impact on two major factors: a) Increasing Cost of Funds & b) Negative impact on Sales. eal Estate sector is one the most important sectors for any economy, but for the past few years real estate market has been plunged into continues to be the same especially regarding liquidity crunch, developers might face the worst phase in the coming months, in terms of funding & cash-flow. A vicious circle of liquidity crunch might soon follow if no conscious efforts are being made to revive the sector in terms of liquidity & investment opportunity. This liquidity crunch would force many developers to exit the sector sooner or later which in the long run would affect the supply side. Current approach of any developer should be to focus on smaller or medium size project in the heart of the city or its surroundings rather than extreme out-skirts of the city. Focus should be on catering to the requirement of End-Users as it is now a customer-driven market rather than supply driven market & hence, the developers should address their requirements (Budget, Typology, facilities, etc.). Most importantly, developers shouldn’t depend on the sales inflow & should have adequate funds with them to complete the project and thereby avoid higher interest costs. Gone are those days when developers would earn exponential profit and can afford to borrow funds at higher rates. Currently, the sector is in a consolidation phase and surviving this tough time is very crucial. Multiple factors had increased the cost of funds for Real Estate sector, starting with Demonetisation which resulted in numerous private investors moving out their capital from Real Estate sector which affected the fresh inflow into the business. To add to the woes, GST was introduced at an effective rate of 12% with input credit (now 5% without input credit) which prompted the Retail investors to stop buying multiple properties. Hence, only End-Users are active in market in recent times with a wait-and-watch approach to grab their dream homes at a reduced price, preferring only ready to move-in or nearing possession inventory. Most importantly, End-Users’ demand would never be able to suffice the supply already generated in the market. Developers are not keen to reduce the price and are still holding on the inventory which would result in higher interest cost. Excessive supply in Real Estate was due to the aggressive funding in the last 5 years, majorly from HFCs & NBFCs and had led to a huge expansion in the real estate sector. But, a drastic dip in sales in the last 2 years have resulted in a crisis where a significant number of developers might sooner or later would head towards the default in servicing their loans which would eventually result in higher NPAs. If the situation Developers who have a clear & structured business philosophy will surely sustain and grow as the real estate sector will eventually overcome this turbulent period and achieve growth. In India, Real Estate sector has lots of opportunity apart from traditional housing / commercial / township projects which is yet to be explored. APRIL 2019 | | 27

30. KSHITIJ BUILDERS & DEVELOPERS Delivering Creative and Quality Dream Homes K developed and delivered around three million square feet of project area around Mumbai, Maharashtra. It counts its successes, not in terms of financial gains but the number of satisfied customers it has catered to and is known to deliver its promises in its TRUE spirit. A Rooted Foundation shitij Group entered the real estate sector with a vision of providing affordable Housing solutions. In its 25 years of existence, the organization has Pagur Desai, Founder of ‘Kshitij Builders & Developers’ has been involved in the construction industry for more than two decades. He is instrumental in making Kshitij group a well-established name in the real estate domain. The group epitomizes contemporary artistry, aesthetics and personalized lifestyles. The entire expanse of development not only reflects exclusivity but also reaches out to an ethereal world full of life, vibrancy and serenity. In all its projects, deliberations go into every aspect with an objective to utilize every inch of the available property to its fullest. The buying process is made easy by its transparent norms, easy finance from Banks and a host of other Offers. Customers are its greatest asset and the Customer Help-line service facilitates arrangements, for a host of requirements to make their life at comfortable, physically, ecstatically and financially! Today, Kshitij group has firmly established itself among the premium brand of property developers, around Mumbai, Maharashtra, truly standing for Reliability, Quality Construction and Value for Money Shaping Dreams Fulfilling the dream should not be restricted to a niche class. At Kshitij, everyone believes in empowering all those other segments of the society who want to effectuate their dreams. It fulfils the dreams of Mumbaikars, by 28 | | APRIL 2019

31. 10 PROMINENT BUILDERS & DEVELOPERS IN MAHARASHTRA MOST THE more challenging. As a result, the real estate industry is also offering high degrees of personalization and customization to create memorable experiences. constructing their dream home. It constructs tailor-made villas, where from elevation to the budget, everything is customized. Currently, the company is working on two projects. Keeping it Clean Team Kshitij believes that all the natural energy has to be harnessed properly if you have to take proper care of the environment. Many traditional building materials are bad for the environment in both the manufacturing and construction processes. However, there is now a huge range of affordable sustainable building materials available. And many of them offer greater strength and durability which are now used in its projects. 1. Kshitij’s Woods: A customized bungalow scheme where every structure is specially customized to suit the client’s lifestyle and budget, displaying an individual’s elegance and anomaly. 2. Kshitij’s Grandeur: Exclusive Farm Lands for the Elite, it is a bouquet of dream property, with secure, peaceful and beautiful surroundings. developer, a check in delay of projects by mandating a corpus fund, providing legal remedies to buyers and developers are some of the significant highlights of RERA. Industry Dynamism The energy audit is in its DNA. Utilization of natural energies goes into its planning right from the early stage. This has sizably reduced consumption of electricity in most of its structures. It has become a standard practice to use solar energy in all the common areas of its projects. It believes that to bring change in the mindsets of the people for them to value an environment, having a first-hand experience is a must. Complementary landscape garden and plantation are the part of its standard package. By this, it is introducing the people directly to nature. The basic idea behind the green building is to carve out fine techniques and skills to bring down the effect on the environment and human health to a lesser degree and by promoting the optimal use of renewable resources. Pagur and the employee force at Khitij really feel that this is the ideal way forward. Pagur opines that Maharashtra real estate reflects a narration of the ever evolving Indian real estate. There is a positive trend in the Maharashtra real estate market due to some very obvious reasons like rapid urbanization and high employment opportunities. Other factors that have played a vital role in increasing the demand in the market are the torrents of construction activity and the initiatives taken by the government for affordable infrastructure growth. Imbibing Technology The real estate sector has been impacted by technology in varied ways, specifically the commercial side of the business. For one, it has dramatically reduced the time it takes to close a transaction while enhancing the professional’s ability to market a property like never before. Sites equipped with leasing tools are making jobs for professionals more efficient. Having floor plans, availability and data all organized in a mobile app is a game changer for the sector putting information essentially at people’s fingertips whenever they need to access it. Broadcasting marketing message, getting visibility has become easier and more cost effective. Pinpoint marketing and targeting using big data also means that the days of “spraying and praying” are over in a marketing sense. The Real Estate Regulation and Development Act (RERA) have provided much-needed relief for home buyers from the unorganized real estate sector. It was a much-awaited piece of legislation which brought about sweeping changes in the real estate sector and also regularized the home buying process with proper checks and balances. RERA has changed the real estate scene for the better with accountability and transparency being the pillars of the Act. Access to any project information like master plans, financial and legal details of the kshitijcompanies.co.in The flip side is that this information overload also makes decision-making APRIL 2019 | | 29

32. KUNDAN SPACES Where Dreams Come Home K is innovative and ambitious. It is dedicated to the highest standards, systems and performance necessary to fulfil all of its client’s real estate dreams. It strives to make the Buying and Selling of Real Estate as Cost effective as possible while maintaining the highest level of service. The company is built on the core values of – Reliability, Organization before Self, No Bad Work Ever and Continuous Improvement. include Asset Procurement, Cash Flow Management, Project Planning, Project Management, Project Engineering, Marketing & amp; Sales, etc. After his professional involvement with Kundan Spaces, it has become almost a debt-free company with a tremendous annual growth with the highest customer satisfaction index. undan Spaces - a leading name in the Real Estate sector is on a mission to provide an outstanding level of service and expertise in the real estate market that Mr.Ashish B Jain is the Founder and Chief Managing Director of Kundan Spaces. Ashish is a well-known expert in the real estate industry. As a person who without many resources builds a legacy of business environment & took it to the uppermost large-scale standards, he is a true success story. His responsibilities include Asset Procurement, Cash Flow Management, Project Planning, Project Management, Project Engineering, Marketing & Sales, etc. After his professional involvement with Kundan Spaces, it has become almost a debt-free company with a tremendous annual growth with the highest customer satisfaction index. Scintillating Projects Kundan spaces have multiple on-going residential projects in Pune majorly located at Baner, Aundh, Balewadi, Undri, Sopan Baug - BT Kawade road, NIBM-Kondhwa. Dedicated Management Kundan Jewellers was founded by Mr. B K Jain. His entrepreneurial journey commenced with the opening of a jewellery showroom, a business that is now thriving. With expertise and experience, he has left no stone un-turned to establish it as a well-known trusted brand. Improvement in our Products, Services, Culture, Process, and thereby improving the standard of living of our customers and stakeholders We strive for Continuous Mr. Ashish B Jain, his son, is a well-known expert in the real estate industry and the founder of a well-established brand in real estate named “KUNDAN SPACES”. As a person who without many resources builds a legacy of business environment & took it to the uppermost large-scale standards, he is a true success story. His responsibilities The Peak - 3 RHK Condominiums – A project comprising spacious, ultra-luxurious living suites nestled in an edifice soaring high and touching the skies of NIBM Road, Kondhwa. Eternia - 2, 3 BHK Flats --Providing sumptuous, out-of-the- box life high on contemporary styles are these flats in Sopan Baug. 30 | | APRIL 2019

33. 10 PROMINENT BUILDERS & DEVELOPERS IN MAHARASHTRA MOST THE The most positive aspect of RERA is that it provides a unified legal regime for the purchase of apartments and seeks to standardise the practice across the country. The Act will further boost consumer sentiments for a fair transaction, especially in the primary markets. RERA is now giving the much-needed peace of mind to home buyers. With this policy, established players in the market will grow in strength, edging out smaller developers in the process, which will bring in better planning, pricing, execution and timely delivery. Freshia - 2 & 3 BHK Flats -- A refreshingly new residential project at Baner Annex, ‘Freshia’ offers you an eclectic mix of 2 & 3 BHK cosy apartments and smart amenities blended with lush green surroundings. Presidia - 3 & 3.5 BHK Finest Homes – Premium lifestyle, everyday adaptability, and luxurious design come together to present a unique residential offering. Emirus - 3.5 & 4.5 BHK Flats -- A harmonious blend of the finest in Design, Architecture and Style. Exclusive Services Kundan Spaces offers a hoard of exclusive services for its clients including, but not limited to: • End-to-end project management services. • Facility management services boost the asset value, reduce costs, maximize safety and improve the overall end-user satisfaction. • Its experienced site team ensures that the work is completed on time, in a safe manner, within the stipulated budget and is of the highest standard. Real Estate Development in Maharashtra The real estate market in Maharashtra has thrived on its industrial growth, developing in every segment – commercial spaces, residential apartments and condominiums, retail malls, hotels or special economic zones. The celebrated real estate market of Mumbai and Pune are known for property prices that rival the leading cities of the world. The residential and commercial property rates have soared ever since the Special Economic Zone was announced in Mumbai. As Pune emerges as a smart city and the construction of Metro network has gathered pace, the real estate sector is booming in Pune. Also the lower prices and costing’s a major attraction for the buyers in Pune. The company predicts, “Maharashtra will remain the investor’s safest bet, as the industrial climate rests Ashish B Jain CMD on India’s most qualified, professional and committed workforce.” Acing the Future Global megatrends will change the real estate landscape considerably in the next six years and beyond. While many of the trends highlighted are already evident, there’s a natural tendency to underestimate how much the real estate world will have changed by 2025. The Tech-twist Kundan Spaces believes that technology has entered our homes and our lives on tiptoe, and everyone has welcomed it with open arms and a smile. Real estate is no exception to the various technological advances and the effects they have on the consumers and developers. Technology is: Emerging market growth, changing population dynamics, technology are all factors that will alter the economics of entire subsectors of the industry, and change the way that real estate developers and the investment community operate. To stay ahead of times, Kundan Spaces will be working on following success factors: • Helping to create a global virtual market • Changing the marketing game through Social Media • Making one’s house a smart home When time is premium, and life hangs in the balance, technology comes to the rescue with a built-in work-life balance. Home automation systems give residents control over everything, and Wi-Fi enabled cameras, rule the roost in today’s advanced homes with hi-tech features. These technological advances have affected both the property developers and potential home buyers equally, and these benefits are only going to multiply! • A global network with the local knowledge and good government relations: • Specialist expertise and innovation; • Urban economic analysis; • Asset value management; • Cost management and scale; • The right people. With its eyes on the future, the group is set to realise its goal to be a point of reference in everything related to Real Estate. “If we cannot provide the service, we can find the people that will do it” and thus Kundan Spaces is setting itself apart. RERA Impact Maharashtra became the first state in India to initiate the conciliation mechanism under Section 32 (g) of the RERA, by way of Alternative Dispute Resolution (ADR). The implementation of RERA, the Management at Kundan Spaces believe has been nothing short of a game changer for the real estate sector. APRIL 2019 | | 31

36. RERA A Game Changer in the Real Estate Market R sellers and of trust and confidence for the genuine buyers.” “ ERA aims at promoting growth of the real estate sector by creating an environment of professionalism and transparency for the genuine It is almost two years now since the Real Estate (Regulation and Development) Act, (RERA), came into force in parts and two years since it came into force in its entirety across India. This much-anticipated Act was touted to bring a tectonic shift in a sector that was habituated to being largely unorganized and unregulated for a very long period of time. Pre RERA: Bull in a China Shop Scenario Prior to RERA, there were growing number of complaints and cases of buyers being victimized at the hands of unscrupulous promoters and developers. The risks of payment, delays, quality, title, and changes rested solely upon the buyers as the consumer protection laws were at best, curative and not preventive. Moreover, the wrongdoers would often resort to high handedness and arm-twisting by using money and muscle power to dissuade the aggrieved buyers from seeking legal recourse. About the Author Dr. Mahesh Rathi, is the Founder of Windsor Shelters - a real estate company operating out of Pune in Maharashtra, India and has worked ceaselessly in establishing it as one of the stable and respected brands in the industry. He is a Doctorate in Construction Management & an MBA with specialization in Business Management. This created an enormous trust deficit in the marketplace and painted even the honest developers with the same brush. Thus, it was the need of the hour for the government to take corrective measures in the interests of the industry as well as the market. And it came in the form of RERA. RERA: A New Era The RERA Act establishes a Regulatory Authority (RA) in each State and Union Territory of India for regulation of the real estate 34 | | APRIL 2019

37. Insider’s Insight sector and also acts as an adjudicating body for speedy dispute redressal. RERA aims at promoting growth of the real estate sector by creating an environment of professionalism and transparency for the genuine sellers and of trust and confidence for the genuine buyers. The main objectives of RERA include: The promoter then has to ensure that the RERA registration number is displayed in their marketing communication and all forms of advertisements. RERA also brings the real estate brokers under the purview of regulations. They also need to be registered under the Act and are bound to give or display only the facts to potential buyers. The buyers too have the responsibility to book and buy their property from only RERA registered developers and only in such registered projects. i) enhancing transparency and accountability in real estate and housing transactions; ii) providing uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real estate sector; iii) boosting domestic and foreign investment in the real estate industry; iv) promoting orderly growth through efficient project execution and standardization; and v) offering single window system of clearance for real estate projects. Recourse under RERA The RERA Act is expected to serve as a strong deterrent for the promoters and developers to prevent consumer grievances. It also lays down a procedure to take any errant promoter, allottee and/or real estate agent to task. A complaint can be filed online under Section 31 of the Real Estate (Regulation and Development) Act, 2016, either with the Real Estate Regulatory Authority or the adjudicating officer. Thus, RERA seeks to bring and maintain an order in an otherwise chaotic industry and marketplace and lead to a win-win situation for all. RERA Binds All The Act now makes it mandatory for the promoters and developers to register each qualifying project under RERA and maintain a separate bank account for that project. Seventy per cent of the money received from the buyers is to be deposited in that account. This fund can only be used for the purposes of construction and land cost. The complaint is to be in the form prescribed under the rules of the governing State. The law has a provision of a maximum jail term of three years, with or without a fine, for a developer who violates the order of the appellate tribunal of the RERA. Conclusion So, is RERA a game changer in the real estate market? The answer is, of course. Further, the developer will also have to make public the original sanctioned plans and any changes made later, total amount collected from allottees, money used, original timeline for completion and the time period within which the project will be completed – all certified by an Engineer, Architect, or a practicing Chartered Accountant. RERA not only establishes the rules of the game for all but also appoints a referee to flag and penalise the errant players. Will it make a difference? The Regulatory Authority maintains website carrying information of all such RERA registered real estate projects for the benefit of buyers and public. The results are already beginning to show in the form of a market shake-up and consolidation. As for the long-term outcomes, we will need to wait and watch since they will decide the future shape of the industry and market. The Act also lays down the guidelines for marketing and advertising of the registered projects. Accordingly, the promoter of any plot, apartment or building - as the case may be - cannot advertise, market, book, sell or offer to sell, or invite buyers in any manner in any real estate project or part of it, and in any planning area, unless the project is first registered with the authority. APRIL 2019 | | 35

38. MILLENNIUM DEVELOPERS The Showstoppers of Real Estate Industry I home, find fulfillment and enjoy the benefits of vibrant community living. The company is established with the ambitious plans to create landmarks that will make owners happy and proud. rich experience and insight, he established Millennium Developers in partnership with Haresh Abichandani. Whereas, Haresh started working at the young age, and did a string of jobs before actually plunging into the electronic components trading business (Millennium Semiconductors). He eventually partnered with Sachin to set up Millennium Developers. A successful team leader, smart businessperson and efficient administrator, Sachin handles multiple responsibilities including Planning, Operations, Finance, Legal, and Sales & Marketing. He is also proficient in the technical aspects of project planning. While, a Harvard graduate Haresh proficiently looks after Finance and Marketing. Key Projects ncorporated in the year 2014, Millennium Developers is the outcome of a deep-rooted desire to provide quality housing, where buyers get to live in their dream The mission of the company is to be the most successful real estate firm in Pune, and to be the leading real estate and home owners’ service company in Pune, always exceeding customer expectations. BUILDING BOND OF TRUST Currently, the company is accomplishing on two projects - ‘Acropolis-2’ and ‘MILLENNIUM Paramount’. Dynamic Duo After the huge success of ‘Acropolis’, it presented ‘Acropolis-2’. ‘Acropolis-2’ offers spacious two BHK comfort homes in a splendid G+11 towers. Providing top- notch conveniences and handpicked lifestyle amenities, the project is situated in a pleasant, peaceful locality with quick access to the Hinjewadi IT Park, upmarket shopping malls, schools & colleges, fine dine restaurants and multiplexes. The latest addition to portfolio, ‘Millenium Paramount’ at Chikhali brings cost-optimized two BHK value homes Sachin Kukreja and Haresh Abichandani are the Co- founders & Directors of Millennium Developers. A commerce graduate, Sachin Kukreja, gifted with a strong entrepreneurial spirit. He started out with the furnishing business and quickly diversified into civil and interior contracting work. His hard work, passion for excellence and focus on customer delight, soon earned goodwill in the marketplace. Moving on to the real estate segment, he worked as partner in a renowned construction firm. With his 36 | | APRIL 2019

39. 10 PROMINENT BUILDERS & DEVELOPERS IN MAHARASHTRA MOST THE backed by best-in-class amenities. Designed to provide an ‘easy-living’ experience to home owners, the project offers quick access to the Chakan Auto Cluster and MIDC areas, while putting all services and facilities within easy reach. “Credibility in today’s volatile market is our biggest asset and our competent, dedicated employees are our greatest strength” states Sachin Kukreja. Haresh Abichandani Co-founder & Director Sachin Kukreja Co-founder & Director brunt of this urbanization, since there will be more people and lesser houses to accommodate them. Its green initiatives include scientific waste management (solid and wet garbage), Sewage Treatment Plant (STP), solar water heating, rainwater harvesting, tree plantation in project premises and use of LED lights, among others. Also, the company makes maximum use of eco-friendly materials during the construction phase to reduce the environmental impact. Going Beyond the Horizon Suppressing Initial Challenges offering Exclusive Services Initially, the demonetization policy raised the issue of ‘rate correction’. However, through personal interaction and site visits, the company was able to do price justification for its customers and earn their trust. RERA also initially seemed like a challenge for the company but didn’t turn out to be an issue, as customers quickly discovered that most of the norms and guidelines in the act were already in place! ‘Housing for all’ is one of the focus areas of the smart cities project, which will provide for a certain standard of living for all citizens. Apart from this, the smart cities project will raise the overall quality of life through digitally connected service delivery and e-governance. 100% treatment of wastewater, monitoring water quality, integrated transportation system, intelligent traffic monitoring are several attributes that make a smart city a safe and sensible place to live in. In this context, it is equally important to understand the significance of green buildings. Since green buildings help control pollution, reduce the consumption of energy and improve overall energy efficiency, they have a positive effect on the environment. Smart cities and green buildings are the need of the hour, since they will ensure a cleaner and healthier living for future generations. By taking this into consideration, as a responsible corporate player, Millenium Developers is committed to protecting the environment, both in thought and action. Proper ventilation in homes ensures ample natural light and air, thus reducing overall electricity consumption. With the new projects, Millennium Developers is marching towards a new, exciting horizon of growth and success. Well, by making use of smart tools and hi-tech systems, the company has resulted in improving speed of project roll out, delivering better quality and cost reduction. These translate into direct cost benefit and quicker possession to the property buyer. To create landmarks in the real estate industry and to be the best developer in means of quality & commitment, this real estate firm, providing the most creative and innovative services on a consistent basis, to drive meaningful value to its clients. Furthermore Haresh ended up by saying “We believe in teamwork, innovation, professionalism, and long-term decision-making. We endeavor to preserve and enhance our reputation for integrity through all our actions.” Acknowledging the initial and current scenario, the company already started doing the false ceiling before the customer actually moves in, which gives us a clear competitive edge. Another exclusivity it takes pride in is that it provides basic electrical fixtures like fans & light bulbs in homes, which eliminates last-minute hassle for our customers. Takeaways on ‘Green Buildings’ and ‘Smart Cities’ Rapid industrialization and urbanization are driving migration from rural areas to urban clusters. Services such as electricity, water supply, local transportation, waste management, etc. will be under tremendous pressure to meet demands of an ever-growing populace. Housing is another key sector that will bear the APRIL 2019 | | 37

40. THE BAYA COMPANY Square Feet for Every Heart Beat A futuristic approach of the industry. The advent of innovative concepts like co-working spaces and affordable housing are fuelling the growth along with the traditional factors and regulatory developments and initiatives. amount of space available, the price, the maintenance costs after occupation, provision of essential amenities. fter a brief slump, the Indian realty sector is finally looking up and promises to deliver customer-centric solutions that showcase the This excerpt unveils the inspirational journey of The Baya Company. As one of Mumbai’s premier ‘Next-Gen’ real estate developers, the company is aligned with a set of values, experience and culture that spans across five sprawling decades. It was formed with a vision to make good quality and affordable housing available to the middle class at strategic locations across the city. The word ‘Baya’ is inspired from a weaverbird that meticulously and skillfully builds weather-proof and predator-proof nests. Walking the pathway along the buyers is what makes the Baya family to be the preferred choice of countless hopes and dreams. The company today, is a part of an integrated group that has real estate well nested in its DNA. Making the Difference A majority of the players in this domain have targeted the luxury housing as their niche segment that has forced the operational costs to soar high. There was no attempt to strike a balance between the Working hard towards giving customers convenience and confidence in a turbulent real estate industry As the Director of the Baya Company, Rohit Kharche is a multi-faceted personality who adroitly manages several key responsibilities of the group company. A Civil Engineer by profession, he has also completed his 38 | | APRIL 2019

41. 10 PROMINENT BUILDERS & DEVELOPERS IN MAHARASHTRA MOST THE complements the junction of life. It’s just minutes from Eastern Freeway, Eastern Express Highway and has close proximity to workplaces, educational institutes, shopping destinations, and healthcare facilities. Master’s in Economics and is a certified Commercial Pilot. He heads the crucial departments of construction and infrastructure and concurrently manages the execution of several projects by providing strategic expertise on matters of critical importance. As the youngest director of the group, he is imbued with a creative drive that enables him to lead, develop and implement new-age marketing and sales strategies to bolster the group’s market presence. The Exquisite Services Baya Victoria – Byculla West, Mumbai A lifestyle home in South Mumbai, it offers a sweeping view of the Mahalaxmi Race Course, Rani Baug, and even the Arabian Sea. The Baya Victoria is an address with old age charm and new-age connectivity. Rohit Kharche Director burden of financial constraints on the buyers, the company has partnered with a leading payment gateway to ensure smooth and efficient transactions through the mobile app. Upper Nest – Mulund, Mumbai The Baya Company is committed to break down the walls of complexity and offer services in their simplest and purest form. In its pursuit to deliver unparalleled services, it has launched a new ‘Baya’ app - an online-platform to track every movement related to a buyer’s purchase. From updates related to construction, project-related documents, payment schedules, and online payments – it has bundled everything in this application to ensure minimal hassles for the buyers. This application is available on the iOS and Android platforms and works seamlessly in all modern-day gadgets. Additionally, buyers also have the provision to place a request for maintenance services through the app – ultimately this application has evolved as a ‘one-stop’ solution provider for all housing-related issues. By embracing technology to the core, the Baya Company has pioneered as one of the first realty developers to introduce absolute transparency and accountability towards the consumers. To ease the It’s the latest offering and considered to be the most iconic project of the Baya Company to date! It offers breathtaking views of the Sanjay Gandhi National Park, the hills and greenery on all sides and is among the only few high-rise projects at 50+ storeys in Mulund East. Projects – Showcasing Core Competencies The Baya Company had crafted a crystal-clear road map for the future right from the preliminary projects - The Baya Park, The Baya Grove, and The Baya Goldspot. It started to add jewels to its crown by focusing on providing units of ‘optimum’ sizes along with targeting the specific segments of the realty industry. The lobby designed and constructed at The Baya Park continues to be one of the best lobbies in a residential building in a similarly sized project in Mumbai. Currently, it has three on-going projects that are listed below: The Future of the Real Estate Industry As technology and innovation continue to pave their way, the real estate industry is embracing technology to enhance and simplify their line of services. In order to expand and create new milestones, standardization of construction techniques across industries and partnerships with construction giants is driving the quality and speed of construction. Baya Junction – Chembur West, Mumbai Situated in the Green Gold Corridor of Chembur, it promises a 24-carat life in an address that truly APRIL 2019 | | 39