Saturday, 30 August 2014

Grand Launch of Iconic Project Sikka Kimaya Greens

With the burgeoning demand in Real Estate sector in India, coupled with the rising exposure and aspirations of Indian consumers. On 24 August 2014, Sunday, Sikka Launched another Iconic Project Sikka Kimaya Greens at SIDCUL IT Park, Sahastradhara Road, Dehradun, Uttrakhand, the organization strengthens its footprint in North India having successfully launched another project in its feather. 

The Foundation stone was laid by the Honorable Chief Minister of Uttrakhand, who was there as a Chief Guest for the Inaugural Function. The Cultural pregame was organised in which artist from famous TV Show Indian Ideal gave their performance. There were Dance and Sufi Song recital performances by famous TV artists. Well renowned Hindi film and television famous actress Ms. Monica Bedi was also present, who graced the Event by her Presence. 

About the Project:Mr. Gurinder Singh Sikka-Chairman, commented on the occasion, “Over the last three decades, our constant endeavour has been to provide quality solutions to our esteemed customers. The Sikka Kimaya Greens will be yet another accomplishment by the organisation , which will give people an unparalleled Quality, which is not only luxurious but will also empower them to lead richer and fuller satisfaction”.“I am extremely excited and equally delighted to see our dream, which started over three decades back, turned into reality with The Downtown”, he further added.

Mr. Piyush Sharma-Vice President (Sikka) said “We have very aggressive plan to expand our Business in the City because Dehradun being in the Himalayan foothills close to the hill station of Mussoorie and being having premier educational and institutional centre with its peaceful vicinity, has always been a favourite destination of people. And, after attaining the status of the capital, the city is experiencing rapid Industrial Growth and Dehradun is witnessing growth in tourism as well. As a responsible Real Estate Developer we foresee lots of opportunity to contribute in the development of the State uttrakhand”.

About SikkaThe Sikka was established in the year 1986 by the Chairman & Managing Director Mr. Gurinder Singh Sikka. It is one of the diversified Business conglomerate having interest in Real Estate, Automobile, Hospitality & the Outdoor Media industry. “Real Estate business arm is recognized as one of the leading Real Estate Brand known as “Sikka”, currently developing in excess of 7 million Sq.ft. of prime real estate, with over 12 projects in Northern Part of the Country in different cities. Sikka has recently launched the “Sikka Kimaya Greens” in Dehradun, which is an exceptional Project that resonates with sleek modernity and indulgent amenities. It is the newest address where the life gets balanced, connected and fulfilled. Sikka Kimaya Greens affluence offers you 2/3/4 bhk apartments & penthouses. Designed by Broadway Malyan (among world's top 10 architects), this lavish project is sure to exude a quiet sense of luxury in perfect harmony with nature.

Monday, 25 August 2014

Bloomberg TV India to launch "Tracking the Recovery - Real Estate"

Bloomberg TV India, the nation’s leading English business news channel, is launching the first of its kind show - Tracking the Recovery - Real Estate.  The on-air series will put the spotlight on the road to recovery and analyse the triggers of the industry’s growth by engaging industry stalwarts in a series of exclusive round table discussions. The show will also rank India’s most successful real estate firms.

The realty sector in India is upbeat about Finance Minister Arun Jaitley’s Budget promise to provide incentives for the establishment of Real Estate Investment Trusts (REIT). This has sent, the stocks of real estate developers soaring high, continued improvement in the overall macro-economic scenario; both telltale signs of the real estate sector coming back on track.
The Indian real estate sector has enormous potential at churning out huge revenue and contributing to the country’s economy. Yet, the sector has to overcome a lot of challenges in order to move ahead and be stable. Tracking the Recovery – Real Estate, will help one understand the challenges faced by the real estate industry as well as the means to clear the roadblocks in its path.
Mr. Lavneesh Gupta, COO, Bloomberg TV India said, “Tracking the Recovery – Real Estate, promises to serve as a reality check for the Indian real estate market. Our efforts will be to focus on the larger issues around the real estate industry and its future growth, as the country’s best thought leaders highlight the growth triggers and map the sector’s road to recovery. Taking into consideration our position, as a responsible business news channel, we will present an up to date analysis on an industry that contributes to the development of the economy.”
Tracking the Recovery – Real Estate, will be a five-part series comprising of panel discussions with the best minds in the sector, on a single platform, to be held in Mumbai and New Delhi. These discussions will involve industry chiefs and thought leaders from the real estate sector, telling it as it is, to help you get real with realty. The panels will be moderated by Ms. Mini Menon, Executive Editor – Bloomberg TV India.
“Tracking the Recovery - Real Estate” will air exclusively on Bloomberg TV India, in the month of August, 2014.


Saturday, 23 August 2014

Sikka Kimaya Greens - A New Residential Wonder in the City of Dehradun

Sikka is a North India' leading premier Real Estate Developer, currently developing in excess of 7 million sq.ft. of prime real estate, with over 12 projects in Northern Part of the Country in different cities who has recently introduced the concept of branded office spaces, with offerings at every level, from world-class corporate offices to large-scale office campuses to signature boutique offices for growing businesses. Now Sikka has further extended its promise of luxury living by introducing a Luxury project Sikka Kimaya Greens at Dehradun, the capital of Uttrakhand.

Sikka Kimaya Greens, an exceptional home that resonates with sleek modernity and indulgent amenities. The project affluence offers 2/3/4 bedroom apartments and penthouses. Designed by Broadway Malyan (amongst world’s top 10 architects), this lavish project is sure to exude a quiet sense of luxury in perfect harmony with nature.

A Government allotted and approved project (SIDCUL), Sikka Kimaya Greens gives an opportunity to live in a lush green paradise tucked away in the lap of untouched nature. Statistically located at Plot No. 18/19, SIDCUL IT Park, Sahastradhara Road, Dehradun, the project will be launching on 24th Aug 2014 in the presence of Honorable Shri Harish Rawat Ji, Chief Minister, Uttarakhand as Chief Guest gracing the occasion.

Earthquake resistant structure, Italian stone flooring, UPVC internal flush doors, superb external fa├žade, uninterrupted water supply, dedicated lift lobby for each apartment from parking bay, Smart card entry for access to elevators, separate service lifts, double secured doors, convenient Shopping Center, CCTV coverage, 100% power backup, 24x7 treated water supply and Fire alarm / detection and fire fighting system make this project residential wonder in the city of Dehradun.

Dehradun serves as the gateway to some of the country’s most popular hill stations such as Musssorie and Nainital. Located 235 km from Delhi, nestled in the foothills of the Himalyan mountain ranges, the city sits cozily between the two most prominent rivers of the country – Ganga and Yamuna. The landscape of Dehradun is bright and colourful, giving the city a majestic charm to complement its beautiful temples and structures. The pleasant weather that the city enjoys, apart from good connectivity, lovely shopping complexes and various tourist spots are the reasons why everyone wants to have his/her own adobe there.

To fulfill your dreams, Sikka is coming up with marvelous residential project Kimaya Greens with luxury and affordability.

Friday, 15 August 2014

Industry welcomes SEBI regulations on Real Estate and Infrastructure Investment Trusts

The market regulator Securities and Exchange Board of India (SEBI) has come up with new regulations for setting up the Real Estate and Infrastructure Investments Trusts that will attract foreign investors to the debt-ridden real estate sector. The move is likely to be a boon for cash strapped industry with the inflow of 1 lakh crore rupees expected from domestic and overseas investors.

REITs are beneficial for both real estate sector as well as investors, as it offers an exit route for property developers and at the same time provides a safe, sound and good investment opportunity for High Net Individual investors in commercial properties. It allows its sponsors the much needed liquidity by passing the ownership to shareholders.

The realty sector has welcomed this move by SEBI and this is what some of the leading voices of the industry had to say on REITs and InvITs –
The Confederation of Real Estate Developers Association of India commonly known as CREDAI welcomed the regulator’s decision stating that it’s good news for the sector as it will not only bring liquidity but also help reduce the debt of the organizations that are in the business of lending commercial properties in India.
2. Ernst & Young India
The tax partner of Ernst & Young India, Gaurav Karnik while welcoming the SEBI move said that REIT will avail fresh equity, attract finance from domestic investors, get long term funds from foreign sources and will reduce the pressure on banking system. He said, “Dependence of developers on bank funding is likely to come down as REITs will enable them to get access to cheaper funds compared to debt which is costly”.
3. Jones Lang LaSaelle India
The Chairman and Country Head of realty sector services major,Jones Lang LaSaelle India’s AnujPuridescribed the approval as great news for the real estate sector. He said that close to 10 billion dollars is expected to be raised in the coming 5 years.
4. Apex Multicons
Anant Pandit, the CEO of Apex Multicons said that the REITs will definitely help to mobilize fund in real estate and may probably infuse the much needed confidence in this struggling sector. He however said that it would have been better had REITs also covered residential properties along with commercial projects. Pandit added, “The pass-through entity status for REITs would pronounce a plethora of opportunities to developers and funds alongside addressing some sector specific issues of lack of transparency, organizing the real estate industry”.
5. KPMG India
Neeraj Bansal,partner and Head of Real Estate and Construction at KPMG India welcomed SEBI regulations and said that it’s really great to see that the norms have been cleared within a month of Budget announcements. Speaking on this he said, “Post SEBI approval, expediting of notification of REIT and InvIT norms will facilitate infusion of an estimated $15- $20 billion in the sector…”. Bansal was of the opinion that this would serve as an alternate to bank loans.
The National Real Estate Development Council also termed this as good news for the realty industry and stated that the government is doing a great job in moving fast with REITs. The industry body was of the view thatthis will definitely bring the much needed relief to the cash starved sector.
7. Walker Chandiok& Co LLP
Neeraj Sharma, Partner at Walker Chandiok& Co LLP was of the opinion that reduction in the asset pool to 500 crore rupees from 1000 crore rupees  for REITs would allow more players to participate and enable more rent yielding properties under this vehicle. Neeraj added, “…final REITs guidelines are definitely encouraging, particularly the two developments are noteworthy – requirements of minimum asset size has been halved and allowing foreign investments in REITs”.


Monday, 11 August 2014

India Regulator Approves REIT Rules

India's capital markets regulator on Sunday approved rules for the creation of real-estate investment trusts and infrastructure-investment trusts in the country.
The step comes a month after Finance Minister Arun Jaitley said these trusts would be given a tax pass-through status, meaning they wouldn't have to pay any federal taxes as long as they pass most of their income to shareholders in the form of a dividend.

Industry experts welcomed the rules issued Sunday by the Securities and Exchange Board of India, saying that real-estate and infrastructure trusts will help provide a new source of funding for developers and investors in infrastructure projects.
"We expect this to be a positive move for the Indian capital markets and could also free up some liquidity for real-estate and infrastructure players," said Bhairav Dalal, associate director at PricewaterhouseCoopers in India.
The rules finalized Sunday state that only commercial properties, such as office buildings can be part of a REIT, and all REITs have to be listed on a stock exchange.
To be eligible for listing, the value of the assets owned or proposed to be owned by a REIT should be worth at least 5 billion rupees.
REITs will be required to distribute not less than 90% of their net distributable cash flows to investors at least every six months.
Under the rules, at least 80% of the value of the REIT's assets must be in properties that are completed and generating revenue. A REIT can invest only 10% of the value of its assets in properties that are under construction, SEBI said. REITs can also invest a small portion in other securities like mortgage-backed securities and money market funds.
Meanwhile, infrastructure investment trusts will own infrastructure projects. These trusts may or may not be listed on stock exchanges, depending on the kind of assets they own.

Source: The Wall Street Journal