NAREDCO Maharashtra to Drive Residential Sector Growth at ‘The Real Estate Forum 2024’

Mumbai, August 21, 2024: The National Real Estate Development Council (NAREDCO), Maharashtra Chapter, is set to host its flagship event, The Real Estate Forum (TREF) 2024 with JLL as their knowledge partner. The forum will take place on August 29, 2024, at Hotel Trident, Mumbai, with a key focus on India’s Residential Sector. Now in its third edition, this highly anticipated event promises to be even more impactful, aiming to shape the future of Maharashtra’s real estate industry.

The forum will be graced by an impressive lineup of dignitaries, including the Chief Minister of Maharashtra, Shri Eknath Shinde; Deputy Chief Minister Shri Devendra Fadnavis; and Maharashtra Housing Minister Shri Atul Save. This year’s edition is expected to gather over 500 attendees from the real estate sector, providing a platform to explore the latest trends, innovations, and opportunities that the sector presents. Additionally, JLL will unveil a white paper during the event, offering key insights into the industry.

Mr. Prashant Sharma, President of NAREDCO Maharashtra, expressed his enthusiasm for the upcoming forum, stating, “We are delighted to host The Real Estate Forum 2024, an event that will be pivotal in shaping the future of our industry. This year’s forum is designed to tackle the pressing challenges and opportunities offered in the real estate sector. It will be our endeavor to bring forward the changes needed in policy matters with the government that will ably support the industry.”

Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL said, “As Mumbai continues to expand, the completion of key transit infrastructure projects and the upcoming Navi Mumbai Airport promise to drive significant growth in both residential and commercial sectors, propelling the city’s real estate market towards unprecedented levels of activity and value. Mumbai’s residential sales value is projected to surpass INR 1.35 lakh crore in 2024 and grow at a CAGR of ~6.8% to reach over INR 2 lakh crore by 2030. Developers have already acquired over 280 acres of land, translating to a development potential of approximately 42-48 million sq ft and a sales potential of approx. INR 70,000 crore.”

The Real Estate Forum 2024 will feature an array of keynote speakers, panel discussions, and interactive workshops, addressing a broad spectrum of topics vital to the industry. Key discussion topics will include government policies that drive real estate, the diversity of the residential market, challenges and opportunities in redevelopment, trends in real estate financing, and necessary amendments to RERA 2.0, among others.

Attendees will have the opportunity to engage in various breakout sessions and panel discussions, focusing on topics such as:

  • MahaUrban Revolution@2047: Government Policies driving real estate
  • Real Estate Spectrum: Insights into opportunities beyond residential
  • Urban Tapestry: Diversity of India’s residential market
  • Rebuilding Mumbai: Challenges and Opportunities in redevelopment
  • Unlocking Capital: Trends in Real Estate Financing
  • RERA 2.0: Amendments needed in the Act / Implementation

The Indian real estate sector is currently witnessing significant transformations, driven by a series of government reforms and initiatives that have revitalized the housing market. Recent quarters have seen record home sales, with buyers increasingly recognizing the value of home ownership. Developers are advocating for further reforms to enhance transparency, streamline the home buying process, and reduce bureaucratic hurdles.

The Real Estate Forum 2024 is set to be a landmark event, offering a comprehensive platform for industry leaders to deliberate on the future of the residential sector and beyond.

Union Cabinet Approves Thane Ring Metro Project, Set to Transform the Region’s Realty Landscape

The Union Cabinet, under the leadership of Prime Minister Narendra Modi, has given the green light to the Thane Integral Ring Metro Rail Project (IRMRP), a crucial development poised to revolutionize urban mobility and real estate in Thane. The Maharashtra Metro Railway Corporation Limited (MMRCL) will spearhead this groundbreaking project, marking its first greenfield venture in the metropolitan region.

Mr. Rajeev Ranjan, Co-Founder & CEO, The Mentors Real Estate Advisory Pvt Ltd

Scheduled to commence operations by 2029, the Thane Ring Metro will create a vital link between Thane’s remote residential and commercial hubs — Wagle Estate, Ghodbunder, Kolshet, and Saket — and both the new and old Thane railway stations. The project will also connect with Mumbai and Kalyan through the ongoing metro lines 4 and 5. Out of the 22 stations planned, the new and old Thane railway stations will be constructed underground, ensuring seamless integration with the existing urban infrastructure.

With the capacity to carry 1,500 passengers per six-coach rake, the metro is expected to operate every 15 minutes, completing a full loop within an hour. By 2045, the daily ridership on this corridor is projected to reach 8.72 lakh passengers, underscoring the project’s significance for the future of Thane’s urban transportation.

The real estate industry has responded enthusiastically to this development, recognizing the potential for a transformative impact on the region.

Mr. Vedanshu Kedia, Director, Prescon Group, highlighted the project’s broader impact: “The Union Cabinet’s approval of the Thane Ring Metro Project marks a transformative milestone for the Thane real estate market. This project, with its strategic connectivity across key residential and commercial hubs is set to redefine urban mobility and catalyze significant growth in the region. The enhanced connectivity to Mumbai and Kalyan, along with the integration with existing metro lines, will not only improve accessibility but also elevate Thane’s appeal as a preferred destination for homebuyers and investors alike. We anticipate that this development will spur demand for both residential and commercial properties, driving up property values and contributing to the overall economic prosperity of Thane.”

Mr. Rajeev Ranjan, Co-Founder & CEO, The Mentors Real Estate Advisory Pvt Ltd, echoed these sentiments, stating, “The approval of the Thane Ring Metro Project by the Union Cabinet is a game-changer for the Thane real estate market. This project will not only enhance connectivity across key residential and commercial areas but will also bring a transformative impact on property values and development potential in these areas. With the metro seamlessly linking old and new railway stations and integrating with existing metro lines, we anticipate a significant uptick in demand for both residential and commercial spaces. The improved accessibility will make Thane even more attractive to homebuyers and investors, fostering sustainable growth and solidifying Thane’s position as a preferred destination within the Mumbai Metropolitan Region.”

Mr. Rajan Bandelkar, Vice Chairman, NAREDCO and MD, Raunak Group, expressed, “The Thane Integral Ring Metro Rail Project is a significant milestone that will undoubtedly catalyze the real estate market in Thane. The enhanced connectivity provided by this ambitious project will transform Thane into an even more attractive destination for both homebuyers and investors. As commuting times reduce and accessibility improves, we anticipate a surge in demand for residential and commercial spaces, particularly in areas around the proposed metro stations. Thane Integral Ring Metro Rail Project aligns with the vision of creating well-connected, sustainable urban centers, and will play a pivotal role in elevating Thane’s status as a thriving real estate hub. We expect a positive ripple effect on property values, leading to accelerated growth and development in the region. As the metro project unfolds, it will not only uplift the real estate market but also contribute to the overall socio-economic development of Thane, further solidifying its position as a prominent residential and commercial hub in the MMR region.”

apartment living Blog

Creating a Positive Tenant Experience in Apartment Living: A Comprehensive Guide

By Sujata Muguda,

Apartment living may be a particularly exciting and enjoyable experience while both tenants and asset managers collaborate to create welcoming and harmonious surroundings. High-quality tenant enjoyment goes beyond virtually imparting an area to stay; it’s about fostering a feel of home, network, and belonging. Below are a few strategies that property managers can put in force to ensure a wonderful tenant experience in an apartment.

  1. Clear and Concise Lease Agreements

The foundation of a wonderful tenant-landlord courting begins with a clear and nicely dependent hire agreement. This record needs to detail all terms, situations, and duties in straightforward language, leaving no room for confusion or misunderstanding. An obvious hire agreement helps prevent disputes and guarantees that each event is on the same page from the start.

  1. Prompt Response to Requests

Responding quickly to upkeep requests and tenant issues is critical in showing tenants that their comfort and well-being are a priority. Whether it’s a minor restore or a full-size trouble, addressing issues in a timely way builds trust and pride. Tenants who experience heard and valued are more likely to have a fantastic dwelling experience and continue to be in the assets longer.

  1. Respect for Privacy

While asset managers must be worried about the upkeep of the property, respecting tenant privacy is vital. Property managers ought to strike stability between being attentive to the needs of the tenants and giving them the space they want to feel snug in their houses. A regular conversation about visits or inspections, with ok observation, demonstrates appreciation for the tenant’s privacy.

  1. Fair and Consistent Treatment

All tenants ought to be handled with fairness and consistency. This consists of the same enforcement of network guidelines and obvious conversation regarding any modifications or updates. Favoritism or inconsistent rule enforcement can lead to dissatisfaction and a sense of unfair remedy, which can harm the general tenant experience.

  1. Efficient Repair and Maintenance

A properly maintained asset is a happy property. Quick and green upkeep exhibits a dedication to maintaining the property and making sure that tenants stay in a secure and cushy environment. Regular renovation not only addresses instant issues but also allows you to save your large, dearer problems down the road.

  1. Incentives for Long-Term Leases

Offering incentives for lengthy rental periods can attract both tenants and landlords. For tenants, it offers balance and the guarantee that they receive the need to relocate often. For landlords, it reduces turnover and the associated charges of finding new tenants. Incentives ought to encompass rent reductions, improvements to the condominium, or other perks that upload value to the tenant’s dwelling revel in.

  1. Building a Community

Fostering a feel of network among tenants can notably decorate their dwelling revel in. Organizing network activities, along with excursion gatherings, film nights, or fitness instructions, encourages high-quality interactions among acquaintances and allows build a supportive and friendly atmosphere. A sturdy community can make an apartment complex feel like a true home, in preference to simply a place to live.

  1. Utilizing Technology

Incorporating virtual systems into belongings management can streamline conversation and enhance tenant experiences. A tenant portal or app can offer a valuable place for tenants to report issues, pay rent, and obtain critical updates. This comfort no longer enhances the tenant’s enjoyment but also lets property managers manipulate responsibilities more successfully.

  1. Safety and Security

Ensuring the safety and security of the belongings is a pinnacle of precedence for any assets supervisor. This includes installing stable locks, keeping properly lit common regions, and, where viable, offering safety to employees or surveillance structures. A steady environment gives tenants peace of mind, which is a vital component of a positive living revel in.

  1. Quality Amenities

Providing best amenities can drastically decorate a tenant’s day-by-day life. This includes current appliances, sufficient garage area, on-hand parking, and well-maintained communal areas like gyms, pools, or lounges. Quality amenities upload value to the belongings and can be a figuring-out aspect for tenants when selecting where to stay.

  1. Regular Inspections

Conducting regular inspections allows for identifying and coping with potential problems earlier than they turn out to be big issues. These inspections ensure that the assets remain in pinnacle situation and that tenants are dwelling in a safe and well-maintained environment. Inspections ought to be performed with appreciation of the tenant’s privacy, with proper notice given in advance of time.

  1. Positive Attitude

A nice and proactive mindset from property management can greatly have an impact on the tenant. Being approachable, friendly, and answer-orientated could make tenants feel valued and supported. A control group that listens to tenant concerns and works diligently to address them can foster a positive atmosphere that enhances universal pride.

By enforcing those strategies, asset managers can create a surrounding in which tenants feel valued and glad to call their condo home. It’s a collaborative attempt that no longer only improves the first-class lifestyles for tenants but also advantages belongings managers by way of fostering a stable and engaged tenant base. A wonderful tenant revels in ends in longer rentals, fewer vacancies, and a more potent network, in the long run contributing to the success of the belongings.

These systems provide complete recommendations on a way to increase the usual of condominiums residing for tenants, making sure a superb and profitable experience for all worried.

14 TH MMMM EXPO, INDIA’S LARGEST TRADE SHOW FOR MINERALS, news

14th Mmmm Expo, India’s Largest Trade Show For Minerals, Metals, Metallurgy & Materials, To Be Held At Delhi, India From September 27 – 29, 2024

mmmm ++ logo 1

Supplementing India’s fast-growing manufacturing sector across industries, the 14th edition of the International Exhibition and Conference on Minerals, Metals, Metallurgy & Materials (MMMM) will be held at India International Convention & Expo Centre – IICC, Yashobhoomi, New Delhi from 27 – 29 Sep 2024. This trade fair will provide an excellent opportunity for interacting with luminaries from practically all corners of the globe, promoting business and giving a fillip to the growth & development of Minerals, Metals, Metallurgy, and Materials sectors in the country through joint ventures, bulk deals, alliances, investments and technology transfer. MMMM 2024 will feature dedicated country pavilions from China, European Countries, and Russia.

The event will feature six major components: HTF for Advanced Hand Tools, Power Tools, and Fasteners; CWE for Advanced Cutting and Welding Equipment & Technology, including Laser Technology; IMEX for the Latest Machine Tools (CNC, Laser, Shot Blasting, Measuring & Testing Equipment, and more); UMEX for Economical Pre-owned Machinery in the Industry; TECHINDIA for Engineering and Manufacturing (Pumps, Valves, Compressors, and more) alongwith MMMM, the largest and most prestigious event on Minerals, Metals, Metallurgy & Materials. The amalgam of these expos makes it an extended platform for metal, engineering, manufacturing, and machine tools segments and showcases the strength and innovations of the Indian & international manufacturing and technology sector.

The combined events have consistently received global recognition and have been acknowledged as the premier international business platform in India featuring more than 300 exhibitors from over 10 countries and attracting 12000+ buyers from the south Asian region. The event is organized in association with the Indian Institute of Metals – Delhi Chapter and with the active support from World Metal Forum (WMF).

MMMM 2024 is supported by the Ministries of Steel, Coal, Electronic & Information Technology, Commerce & Industry, Government of India and honored to have the Hon’ble Minister of Steel, Government of India, invited to formally inaugurate the event, alongside the Secretary of the Ministry of Steel and leaders from the steel and allied industries.

Says Gagan Sahni, Director, Hyve India P Ltd, “MMMM 2024 showcases latest advancements and technological developments in the field of Minerals, Metals, Metallurgy and Materials Industry and also offers unparalleled business networking opportunities to trade visitors to explore availability of raw materials, alternate suppliers of machinery, equipment and spares. Each edition has been adding value to its profile and has been creating new standards in terms of visitor turnout and the volume of business transactions.”

This unique platform also includes an International Open Seminar on “Green Steel Production: Sustainable Practices and Carbon Reduction” by Metalogic and WMF, an International Conference on “Process & Product Innovations in Metal Production” by Indian Institute of Metals – Delhi Chapter, Business Meets on “Latest Technology for Manufacturing & Maintenance Industries” by WMF, a Secondary Steel Industry Meet under the World Metal Forum, an Exclusive Metal Manufacturers Networking Pavilion, and over 10 Dealers & Distributor meets.

Welspun One Acquires 22-Acre Land in NCR with JLL as Transaction Partner

New Delhi, 21st August 2024: Welspun One, an integrated fund and development management platform, in partnership with JLL, a leading global real estate services firm, is pleased to announce the successful acquisition of a prime 22-acre site along the Bilaspur-Tauru Road in the Gurgaon/NH-08 corridor. This transaction facilitated by JLL, represents a significant milestone in Welspun One’s strategy to expand its logistics park footprint in India.

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The acquired land, situated in India’s most active logistics sub-market, is recognized for its strategic importance. According to JLL, the Gurgaon/NH-08 corridor boasts a total supply of 64 million square feet for Grade A & B spaces as of H1 2024, positioning it as the largest logistics sub-market in India, followed by Bhiwandi in Mumbai. Gurgaon/NH-08 sub-market witnessed a gross absorption of 3.7 million square feet in H1 2024, almost doubling the absorption recorded during the same period in the previous year (H1 2023). This significant increase in absorption underscores the robust warehousing demand in the region.

“This land transaction is unique in the sense that it’s a long lease of aggregated land from multiple private landlords – an emerging transaction typology in the country i.e. lease over outright,” said Yogesh Shevade, Head – Logistics & Industrial, India, JLL

The site is ideally positioned near existing major logistics parks, enhancing its appeal to tenants. Welspun One’s proposed development will complement the surrounding infrastructure, which includes notable tenants like leading 3rd party logistics players, e-commerce giants and retail players.

Mr. Anshul Singhal, Managing Director, Welspun One, stated, “This acquisition marks a significant step in expanding our footprint in one of India’s vital logistics corridors. By leveraging this prime location, we aim to create a cutting-edge logistics hub that will not only support our tenants’ operational efficiencies but also contribute to India’s broader economic growth. We are committed to developing world-class facilities that will enhance the region’s connectivity and drive industrial growth, further cementing our role in the nation’s logistics sector.”

Welspun One plans to invest INR 125 crore in this Bilaspur-Tauru Road project, which is expected to generate employment for 1200-1500 people. The project aligns with the company’s vision to create state-of-the-art logistics and warehousing facilities that cater to the diverse and evolving needs of businesses across various industries.