Delivering Worldwide Real Estate Solutions

1. Delivering Worldwide Real Estate Solutions Delhi / National Capital Region Commercial Real Estate Overview

2. Presentation Prepared by 5TH December 2011

3. Delhi / National Capital Region Overview City : Delhi / NCR comprises New Delhi, Gurgaon, Noida, Faridabad & Gaziabab. It is a name for the conurbation or metropolitan area which encompasses the entire National Capital Territory of Delhi as well as urban areas ringing it in neighboring states of Haryana, Uttarakhand Uttar Pradesh and Rajasthan. With a total area of about 33,578 km2 (12,965 sq. mi.) it is the world's second largest urban agglomeration. NCT-Delhi covers an area of 1,483 km2 Education : There are seven major universities and nine deemed universities. Three top engineering collages – IIT, NSIT, DTU.  Notable higher education or research institutes in Delhi include AIIMS, School of Planning and Architecture, Dr Ram Manohar Lohia Hospital & PGIMER, Maulana Azad Medical College, JNU,ISI,Indian Institute of Foreign Trade, National Law University, Indian Law Institute, Delhi School of Economics, Jamia Millia Islamia. Infrastructure : International Airport -  Indira Gandhi International Airport (IGIA) was conferred the fourth best airport award in the world (in the 15–25 million category) and Best Improved Airport in the Asia-Pacific Region by Airport Council International. Terminal 3 is the world's eighth largest passenger terminalIn 2010-11, the airport handled 29.94 million passengers annually and the planned expansion program will increase its capacity to handle 100 million passengers by 2030.The new Terminal 3 building has had the capacity to handle an additional 34 million passengers annually

4. Delhi / NCR Overview Delhi Metro Rail Corporation (DMRC) – Being one of the world’s largest metro networks, It is a rapid transit system serving Delhi, Gurgaon, Noida & Faridabad in the NCR. Red Line connects East & West Delhi, Yellow line connects North Delhi from Gurgaon, Blue Line connects South-West Delhi to Noida, Violet Line connects Central Delhi to Faridabad, Green Line connects Delhi to Rohtak peripherals & Airport Express Line connects Indira Gandhi International Airport to New Delhi Railway Station. Several extensions to the Delhi Metro Network have been planned under Phase 3 & 4 which comprises Inner & Outer Ring Road Lines. Ring Roads – The Inner & Outer Ring Road with their peripheral roads ensure smooth connectivity in entire Delhi. Delhi Noida Delhi (DND) Expressway – Ensures smooth connectivity to Noida from South Delhi. NH 8 (The Delhi Gurgaon Expressway) being a part of the Golden Quadrilateral connecting Delhi with Mumbai, is one of the most important and highest density corridor between NCR and the Millennium city, Gurgaon. Moreover, since the International as well as the National Airports are along this route, the Expressway is also called the 'Gateway to India. Noida-Greater Noida Expressway is a six-lane highway connecting Noida, Uttar Pradesh, an industrial & IT suburb of Delhi to Greater Noida a new suburb.

5. Delhi / NCR Overview Taj Yamuna Expressway project was conceived with the idea of reducing the travel time between Noida and Agra. This corridor is witnessing major urban, industrial & IT development. India’s first formulae one race track has been built by Jaypee Group recently. Delhi Western Peripheral Expressway, or Kundli Manesar Palwal ( KMP Expressway), is 135.6 km long Expressway being constructed in Haryana. The expressway will act as a Delhi bypass for traffic coming from north of Delhi on NH1 and going to south of Delhi on NH2. Delhi Transport Corporation (DTC) – It is an integral transportation medium in Delhi. DTC plies all round Delhi with buses at frequent intervals to ease the commuting of passengers. DTC is the world's largest compressed natural gas bus service. Now all buses have been converted into CNG in order to control the pollution level of the city. Apart from the bus service of the DTC, there are private modes available Hospitals & Medical facility is an integral part of a well established region and Delhi/ NCR ranks among the best in medical facilities in India. In Delhi, there are a number of government and non-government organizations offering health care facilities to the citizens. Delhi NCR has hotels and tourist accommodation all across the region with cheap and best service. Hotels in NCR suit all pockets where a visitor has a number of options to choose from. If you are habitual of a luxurious lifestyle then Delhi NCR has several five star and three star hotels offering quality service. There are many low budget hotels also which is flooded with hotels.

6. Delhi / NCR Overview IT Suburbs of Delhi – Gurgaon, Noida & Greater Noida have emerged as major IT / ITES centers of India. Owing to the proximity with New Delhi, there has been a tremendous growth in the infrastructure and economy of these cities. States like Haryana and Uttar Pradesh have benefited a lot from the recent developments in sectors like Real Estate, IT, ITES, manufacturing and other service industries.  Special Economic Zones (SEZs) in Delhi / NCR – A good number of IT / ITES SEZs have been developed in Gurgaon, Noida & Greater Noida. By the end of 2009, as many as 48 SEZ notifications and 29 formal approvals (pending notification) had been given in NCR, the highest among all major cities. IT/ITES SEZs accounted for a significant 80% of the proposed SEZ developments in the region, with biotech, multiservice and engineering SEZs accounting for the rest. In terms of geographical spread, nearly 60% of these developments are concentrated around Gurgaon, 38% around Noida, including Greater Noida, and only 3% in Delhi. Modern Industrial Estates of Haryana State Industrial & Infrastructure Development Corporation Limited (HSIIDC) are the fine industrial centers of NCR. Udyog Vihar & IMT Manesar in Gurgaon, Growth Center – Bawal, EPIP & Kundli Industrial Estate in Rai, Hosiery & Textile Park – Barhi, Industrial Estate – Bahadurgarh, Growth Center – Saha, Industrial Estate – Barwala, Industrial Estate – Manakpur, IIDC – Sirsa. Are the running industrial estates in and around Delhi / NCR. Uttar Pradesh Industrial Development Corporation (UPIDC) also have industrial areas in NCR, such as Ghaziabad & Gautam Buddha Nagar. . Delhi NCR has hotels and tourist accommodation all across the region with cheap and best service. Hotels in NCR suit all pockets where a visitor has a number of options to choose from. If you are habitual of a luxurious lifestyle then Delhi NCR has several five star and three star hotels offering quality service. There are many low budget hotels also which is flooded with hotels.

7. Delhi / NCR Overview Delhi State Industrial & Infrastructure Development Corporation Limited (DSIIDC) has developed industrial area in Delhi. These areas are – Okhla Industrial Complex (Phase 1, 2 & 3), Wazirpur Industrial Complex, Lawrence Road Industrial Complex, Jhilmil Tahirpur Industrial Complex, Rohtak Road Industrial Complex Phase – 1. Kirti Nagar Packing Complex, Mangolpuri Engineering. Complex, Bawana & Narella Industrial Complex. . .

8. Delhi / NCR Map with Key Location

9. Delhi / NCR Micromarkets Central Business District (CBD) The prime Central Business District is defined as those areas that fall within a radius of 2 kms from the city center i.e. Connaught Place (CP) & the peripheral roads – KG Marg, Bahrakhamba Road, Tolstoy Road, Janpath, Sansad Marg, Baba Kharak Singh Marg, Chelmsford Road are some CBD location. Non Central Business District (Non CBD) Non CBDs are – Jasola District Center, Saket Business Center, Nehru Place & Bikaji Cama Place in South Delhi. Netaji Subhash Place, Janak Puri District Center & Rajender Place etc. are the other such centers in Delhi. Secondary Business District (SBD) NetajiSubhash Place, JanakPuri District Center & Rajender Place etc. are the other such centers in Delhi. Suburban Business District of NCR are the commercial areas of Gurgaon, Noida & Faridabad. Peripheral Business District (PBD) Peripheral Business District is defined as those areas which are more than 11 Kms from Central Business District. Such areas of NCR are the commercial centers of Gurgaon, Noida & Faridabad.

10. Preferred Location of Corporates in Delhi CBD Connaught Place Non CBD Jasola, Saket, Nehru Place,

11. Preferred Location of Corporates in Gurgaon Udyog Vihar DLF Cyber City MG Road Golf Course Road

12. Preferred Location of Corporates in Noida IT/ITES locations in Noida Commercial Center - Noida

13. Approximate Rentals For Grade A Buildings Note 1 USD = INR 51.50

14. Some Corporate Presence

15. Some Corporate Presence

16. Real Estate Market Practice • Lease Term • Typically 3+3 or 5+4 years lease ter • Lock-in Period • 36 months lock-in period for bare shell space • 36 to 60 Months for warm shell space • 60 Months for fully-furnished space • Termination/ Renewal Rights • Termination and lease renewal rights held by lessee generally. • Lessor to terminate lease only in case of breach of contract by the lessee. • Tenant Improvements • Developers charge approx. Rs. 2.50/- per sq. ft. per month as rent for every Rs.100 per sq. ft. spent on tenant improvements. • Typically short term / incubation space is fully furnished and long-term space is warm shell / bare shell space. • Tenant Deposits • Warm shell/ fully fitted space ~ 6 to 12 Months • Cold hell space ~ 6 Months Lease Conventions

17. Real Estate Market Practice • Rent Enhancement: • 5% to 6% per annum or 15% to 20% once in every 3 years. • Ability to evict delinquent tenants: • Registration of lease contract (In order to make it enforceable in court) • Eviction by lessor difficult unless there has been a breach of contract • Rent on gross area (super built area): • Common area charges and Utility Charges • Common area maintenance charges and utility charges approximately Rs.14.00/- to Rs.25.00 - per sq. ft. per month. • Maintenance / common area charges either a part of lease agreements or executed separately as a maintenance agreement • Expenses paid either directly to developer or to an outsourced property maintenance agency • Rent quoted in local currency Lease Conventions

18. RealEstateMarket Practice Stamp Duty Transaction Costs • Registration Charges • INR – 5,000 to 12,000 approximately.

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