RE/MAX Realty Review

Transcription

June, 2014
.
From the Chairman’s desk
What a great start to the year 2014-2015,
the regional sales team of RE/MAX India
managed to complete its annual target of
regional sales in the very first quarter of
the year. A very warm welcome to our
newest Regional Owners Navita Patni,
Manish Patni & Mohd. Ismail and a special
congratulations to the team comprising of
Anmol Aggarwal and Yogesh Khemani led
ably by Puneet Verma for this excellent
accomplishment.
Last but not the least, budget 2014 has
really given way to “Achche din” for our
sector with the government announcing
some positive measures like incentives for
affordable housing, relaxations in FDI,
REITs, smart cities development,
increased tax deduction on housing loan
interests etc. These steps make me
hopeful of the fact that the sector as well
as the customers can look forward to
things changing for the better. I would
sign off by saying that the key to the
The month of June also saw some great success of this budget lies in its
news with reference to our national IMPLEMENTATION!
relationship with Godrej Properties Pvt. Ltd.
Two of our offices, RE/MAX Realty All the best for the coming quarter!
Investmart from Delhi & RE/MAX Right
Move from Chennai have been given special Regards
recognitions by Godrej for clocking in a Sam Chopra
good number of sales for their projects. It
is indeed great to see this relationship
fructifying and I am hopeful of seeing this
relationship cement with all our Affiliates
across the country.
Content:
___________________________________________________________________________________________________________________ _____________________________________________________________________________________________________________________________ __________________________________
1) From the Chairman’s Desk
2) From the Vice Chairman’s Desk
3) Events to Look Forward To
4) Update on the Franchise Sales Activities
5) News from RARE
6) What’s new in Marketing & Social Media
7) Innovative Marketing and Self Promotion
8) Press Buzz
9) News from the Regions
10) News from RE/MAX, LLC
11) RE/MAX Anniversaries of the Month
12) Heroes of RE/MAX India
13) Top Listings
14) Realty Bytes
15) New Broker Offices & Broker Associates
June, 2014
www.remax.in or Call us at +91 9654965001
From the Vice Chairman’s desk
In addition to the 4 new regions added to the network
by the RE/MAX India sales team, the month of June
also saw two subdivided regions from Balajee’s
regions, RE/MAX Telengana & RE/MAX Rayalaseema
being added as independent regions under RE/MAX
India. With these 6 additions, RE/MAX India now
boasts of a strong regional network of 28 regions
across the country.
It is also fondly called the Facebook for Real Estate,
if you are looking at taking your business global,
sending and receiving referrals and are also
wanting to learn from the best practices in Real
Estate from around the world, then RESAAS is the
place to be. I would urge each one of you to join the
RESAAS platform and make optimum use of this tool
in a day and age where Internet influences worth
$43 billion real estate decisions as per Google India
All of us at the Regional level are in the process of statistics.
doing a thorough introspection of our activities and
achievements in the first quarter of 2014-2015, what Wish all of you all the very best for a super
is great to see is this that we have all set the ball productive month!
rolling in terms of our activities and we are very sure
that the coming quarter will see results. I urge all of Regards
you to review your performance of the first quarter Saloni Chopra
and give yourself a pat on the shoulder if you have
achieved what you set out for yourself and in case
you haven’t, then refocus, re - strategize and realign
your goals for the coming quarter in such a way that
you achieve Q1 goals too.
With RE/MAX constantly working towards providing
it’s Affiliates with the best in tools and technology,
they have come up with yet another custom made
tool which is called the RE/MAX Global Referral
network powered by RESAAS.
June, 2014
Events to look forward to in July!
Click to View Online
June, 2014
News From RE/MAX India
RE/MAX takes its footprints across the length and breadth of the country!
The good news of RE/MAX India adding another 4 regions, RE/MAX Kerala, RE/MAX Rajasthan 2, RE/MAX Rajasthan 3 & RE/MAX
Rajasthan 4 to its regional network has been a perfect end to the very first quarter of the year 2014-2015.
RE/MAX India would like to congratulate and extend a very warm welcome to Mohamed Ismail as the Regional Owner of RE/MAX
Kerala and Manish Patni & Navita Patni as the Regional Owners of RE/MAX Rajasthan 2, RE/MAX Rajasthan 3 and RE/MAX
Rajasthan 4. RE/MAX India wishes them all the very best for making their regions successful.
RE/MAX India would like to extend a very special thank you to CK Taneja, Regional Owner - RE/MAX Haryana for his constant help
and cooperation in growing the network. With Puneet, Anmol and their team truly committed and continuing to work tirelessly,
RE/MAX India has added 5 new regions in the very first quarter and has proven that one can always strive to over achieve targets!
They really have done us proud!
The good news does not end here, our regional network is now 28 regions strong with Movva Prasad joining the RE/MAX India
family as the Regional Owner of Rayalaseema and BL Kantham Raju & Adluri Shailaja as the Regional Owners of RE/MAX
Telengana. Congratulations to Balajee for selling subdivided regions from his territory and a very warm welcome to the new
Regional Owners!
June, 2014
Franchise Sales Workshop at RE/MAX India Headquarters!
With a strong business model like that of RE/MAX, following and
implementation of the right sales process is what would produce
the predictable results. To help the regions and their franchise
sales team (whether veteran or fresh in the system) learn the
techniques and best practices in franchise sales, the Franchise
Sales Workshop at the headquarters provides the attendees the
benefits of theoretical as well as practical learning through class
room sessions and role plays with real time questions about the
sales process.
With a complete focus only on the operations of Franchise Sales,
the workshop had a number of sessions like Basics of Sales,
Various Tools and Techniques Helpful in Sales and Practical
Aspects in terms of Role Plays, Mock Call Sessions, and Conduct
of Meetings and so on… for the deep understanding of
franchising as a whole!
The teams from the regions of RE/MAX MGM, RE/MAX Chennai, RE/MAX Punjab, RE/MAX Haryana and RE/MAX Rajasthan 1 got
trained and mentored by Puneet Verma, Anmol Agarwal, Ripunjay Singh, Parul Choudhary and Yogesh Khemani and we are very sure
that with this kind of guidance and personalized instructions, the trainees would have gone home more equipped and more confident
on the franchise sales process.
Thanks RE/MAX India! It was a
wonderful experience and I gained so
much personally and professionally. My
sincere efforts will always be there to
contribute in RE/MAX's Success and
Vision. Thanking the whole RE/MAX
India team for this experience!
Thanks Anmol Aggarwal, Puneet
Verma, Manpreet Grewal, Yogesh
Khemani and all other team members
for their support and guidance.
Training was good and a great
learning experience. After training
I fell more confident in handling
objections. I really enjoyed and
came back to my region with
complete information on Franchise
Sales!
I have learnt a lot like
about real estate, how to
sell, how to convince people
and so on… My experience
was very good and I feel it
is a perfect platform to
achieve higher success in
sales profile. With the kind
of trainers at RE/MAX
India, the training is
definitely beneficial for a
strong career path.
M C Raghu, RE/MAX Chennai
Aman Ratra, RE/MAX Punjab
Jatin Lalwani, RE/MAX
Rajasthan 1
June, 2014
Update on Franchise Sales Activities
With us entering the second quarter of the year 2014-2015, the first quarter (April – June) saw our regions undertaking a number of
activities for Franchise Sales and Agent Recruitment in their respective regions to achieve their set targets shared in their business
plans. With the Regional Owners and their teams having the required skill and will to achieve the sales and revenue targets laid out
by them, RE/MAX India is quite hopeful that the next quarter will be equally eventful in terms Franchise Sales Activities and will add
a good number of RE/MAX Affiliates to the network at all levels!
RE/MAX India
Online Sales Training Webinar: A Refresher training session was
conducted by Manpreet Grewal, Regional Director, RE/MAX India
on how to give a “60 Minutes with RE/MAX” presentation and
how to handle prospect queries. With an extensive experience in
handling and growing the franchise business, Manpreet explained
step by step on how to walk the prospects through the “Changing
Trends in Real Estate” presentation and how to present the
RE/MAX opportunity to the audience.
RE/MAX HYDERABAD
The regional team of RE/MAX Hyderabad along with the Regional
Owner Balajee Kumar conducted a “Collaborate to Succeed MidYear Meet” which was attended by all their Broker Owners &
Broker Associates.
The event was also used as a prospecting platform for
prospective Regional Owners, Franchise Owners and Business
Associates. The event turned out to be a great success with
region having a good pipeline of prospects for the RE/MAX
Business Opportunities.
RE/MAX India would like to wish the team all the very best for
their great team work and for the future success!
Live examples were shared on how to communicate the
excitement and the potential of the business along with the
message that the business is simple enough that they can
succeed!
We at RE/MAX India are always open for conducting more of
such webinars on a more regular basis and are thankful to the
regional teams for their active participation in these sessions.
June, 2014
RE/MAX MGM
Discovery Days and Seminars: RE/MAX MGM organzied seminars
on “Changing trends in Real Estate” in Ahmedabad & Nashik
which were conducted by Manan Choksi, Regional Owner
RE/MAX MGM. These seminars were all about creating an
awareness about the changing trends Real Estate and how
RE/MAX plays a vital role in this changing environment. The
session also had testimonials by Anand Choksi (Broker Owner,
RE/MAX Advantage), Nirav Vakharia (Broker Owner, RE/MAX
Realty Solutions), Sunil Mehta (Broker Owner, RE/MAX Ronisun
Realty), Jay Shah (Broker Owner, RE/MAX Metro) and Sandeep
Sabnani (Broker Associate, RE/MAX Advantage). A lot of
enthusiasm was seen in the attendees who were eager to learn
more about RE/MAX and its business opportunities. RE/MAX
MGM invested a lot into marketing of these two events and the
tremendous response that they received was testimonial of how
far and wide their reach was with their marketing efforts.
RE/MAX India would like to wish all the very best to the regional
team in making their Franchise Sales a SUPER SUCCESS!!!
RE/MAX MP1
Discovery Days: The regional team of RE/MAX MP 1conducted
Discovery Days on two consecutive days for offering the
Franchise & Agent opportunity in which they saw a good turnout!
The event turned out to be a good opportunity to sell, recruit and
network and thus share the business opportunities of RE/MAX
with everyone in attendance.
June, 2014
News from the RE/MAX Academy of Real Estate
Making the most of the National Webinars
To make training and up skilling opportunities available to all the
Affiliates, the RE/MAX Academy of Real Estate conducts its monthly
online training webinars that are designed in a way to teach
everything starting from training in specific skills to the current trends
in the real estate sector and so on depending on the need of its
Affiliates.
The month of June saw webinars on various topics like “Search Engine
Optimization and New Joinee Webinar” by Peeyush Rohilla, Head
Technology and “Passion Breeds Positivity builds Profitability” by
Anand Choksi, Broker Owner, RE/MAX Advantage. The webinars were
a source of learning about making a stronger online presence by
Peeyush and the success mantra’s through passion and positivity by
Anand. RE/MAX India is very sure that all the three webinars must
have added a lot of value to everyone who attended.
Stay tuned and block your dates based on the monthly event calendar
for the webinars in the month of July and make the make the most of
this valuable resource!
RE/MAX Academy of Real Estate certifies another batch of the Franchise Owner Management Training
With the goal of assisting our new franchise owners in their We would like to wish the trainees all the very best!
transition into the RE/MAX systems, the Franchise Owner
Management Training at the National Headquarters is something that
completely trains our new Franchisors on practices that will be their
everyday business in the future. It is truly said that “If the brand is
the heart of any great franchise, training is the physical conditioning
that keeps the heart beating strongly and consistently” and the
RE/MAX Academy of Real Estate makes sure that it provides its
Franchisors the requisite level of mentoring and training to pave their
way of success.
The five days of rigorous training on a dozens of topics like RE/MAX
history, recruitment, retention, office management, basics in Real
Estate, technology, exclusive mandates etc trained our new
franchisors in A-Z of the franchise operating and the real estate
business thus building in them the confidence to meet and even
exceed their own expectations.
To evaluate their learnings from the training program, a written test
that conducted at the last day that included the broad range of topics
covered during the training program.
June, 2014
Continuing Agent Training
The Continuing Agent Training Program has been proven as a
successful method to teach everything that one needs to learn in
terms of the practical aspects of conducting the Real Estate
business. With modules and assignments that make the
Associates participate in various field activities like their
interaction with various developers in the regions, networking
with other RE/MAX Affiliates, site visits, usage of technology
and so on… the Continuing Agent Training is one of the key
ingredients for the success of the Agent Training Program.
With the program designed to make our Associates
knowledgeable, skilled and able to offer the best to their
customers, there are certain standards and mandatory
requirements that have to be fulfilled to earn the certifications
from the RE/MAX Academy of Real Estate. It includes
attendance in all the training sessions, attendance in the
monthly webinars and timely submission and presentation of all
the given assignments, failing which makes one ineligible for the
certification!
The month of June had the third batch of the “Broker Associate
Management Trainees” start with their first week of the
“Continuing Agent Training” with sessions by Vikas.
We wish them all the very best and hope that all of them earn
their certifications!
June, 2014
Check Out What’s New in Marketing and Social Media at RE/MAX India
New search module on remax.in - Now search properties by Developer's Name
RE/MAX has introduced a new feature in iList wherein you can now select the “Developer’s Name” while listing a property for any
upcoming project or for the project that is “Up for Sale” .We have created a list of developers working in respective cities/regions in
India have also introduced it on the property listing page in iList. So, now while listing the property you just have to Select the
respective Developer from the drop-down and it will make the listing “Searchable with the Developer’s name” on the new listing
search module.
The user, who clicks on “Developers Projects” icon on the website Homepage, will be re-directed to a NEW search where they can
search for property listings by selecting the “Developer” name from the drop-down.
*Whenever you list any property through iList, please select appropriate developer from the drop-down to make use of this feature.
This will also help the website user to search for properties based on “Developers Projects”.
June, 2014
RESAAS- The Real Estate Social Network
RESAAS, a Global Referral Network now let’s you discover the RE/MAX activities all around the world. Connect, communicate and
build a massive referral network make working relationships that will benefit your business at the end of the day. You can make use
of your RE/MAX id and password to register for the same and get an access to the RE/MAX agents in any corner of the world.
A RE/MAX agent is now just a click away on any continent on the map!
To view the video guide that will help you to use this Referral Manager Tool, you can click on the following image and it will connect
you to the online training video for the same.
June, 2014
Social Media for Real Estate
Social media is becoming the wave of the future for real estate advertising and is an excellent resource to promote your brand and
listings as well. Not only is it easy, efficient and cost-effective, but it is also a good way to reach a larger target audience.
With over 500 million active users, Facebook can be an effective marketing tool if used correctly. The social value lies in providing
regular, valuable and consistent information. By becoming a trusted source via your Facebook posts and then offering an easy
access on Facebook to the tools for home searching, Real Estate professionals can reap benefits from the power of social media to
build connections, stay in front of users even when they are not buying and ultimately be the trusted source to go to when the time
for buying and selling comes!
RE/MAX India would like to share with everyone the “TOP THREE REGIONAL FACEBOOK PAGES”; selected on the criteria of
the”MOST FREQUENT POSTS” and the maximum number of “LIKES”.
June, 2014
Innovative Marketing and Self Promotion
“Innovation distinguishes between a leader and a follower”
In RE/MAX, we believe in innovative marketing and self-promotion and we see our Affiliates around the country create a niche for
themselves doing this! The development team at RE/MAX India went scouting for some of the most creative, innovative and
effective marketing activities done by our Affiliates and through this section, we proudly share with you the ones handpicked by us!
June, 2014
Press Buzz – RE/MAX in the News!
PUBLICATION: BUSINESS STANDARD
PUBLICATION: THE INDIAN EXPRESS
June, 2014
PUBLICATION: THE HINDU BUSIENSS LINE
PUBLICATION: THE INDIAN EXPRESS
June, 2014
PUBLICATION: THE TIMES OF INDIA
PUBLICATION: DAINIK NEWS JYOTI
PUBLICATION: THE TIMES OF INDIA
PUBLICATION: POLITICAL AND BUSINESS DAILY
June, 2014
PUBLICATION: NEWS 24
LINK: https://www.youtube.com/watch?v=ZzUsovpAZFs
PUBLICATION: HINDUSTAN TIMES
June, 2014
News from the Regions
RE/MAX Delhi NCR
RE/MAX MGM
It has been very aptly said quoted that, “The way a team plays as
a whole determines its success”. We may have the greatest
bunch of individual stars in the world, but if they don't play
together, the club won't be worth a dime."
The regional team of RE/MAX MGM had a super busy month
offering Business Opportunities to a good bunch of potential
franchisors in the region, but the training and development
also accompanied the process with the same pace.
The development team of RE/MAX MGM, under the leadership
of Pranav Pandya, had their First batch of the Broker Associate
Management Training start with their Continuing Agent
Training Program at their Headquarters. The region also
conducted their series of Webinar on the topics “Marketing
RE/MAX India is very sure that with this kind of networking and using WhatsApp”, “Commercial Real Estate: Why and How”,
bonding taking place; the region will get benefitted as a whole. “Mistakes of a Real Estate Agent and Marketing Techniques”
and “Fundamentals in Real Estate(Part 1)”.
The month of June had the regional team of Delhi NCR along with
their Broker Owners’ and Business Associates have a fun day not
only playing Cricket but also establishing & creating opportunities
for networking& friendships to develop.
RE/MAX Chhattisgarh
The month of June had the regional team work closely with their
Broker Owner’s in terms of Agent Recruitment, Agent Training and
Business Plans for the year. The trainings were imparted on various
topics like lead generation, Objection/Query Handling, practical
training on the conduct of meetings and so on…
As per the guidance and mentoring from the Headquarters, the
regional team of RE/MAX Chhattisgarh has left no stone unturned in
working closely with their Affiliates and offering them every possible
support for effective operations of their Broker Offices.
RE/MAX India would like to acknowledge all these efforts and is very
sure that with such dedicated team effort and time investments, the
region will see an increased network in the region!
June, 2014
RE/MAX Hyderabad
With a super busy month in terms of Franchise Sales, the
Regional team of RE/MAX Hyderabad has surely brought in a
lot of good news to RE/MAX India in the month. The news of
joining hands with Movva Prasad as the Regional Owner of
RE/MAX Rayalaseema and BL Kantham Raju and Adluri
Shailaja as the Regional Owners of RE/MAX Telangana has
made the regional presence of RE/MAX India much stronger.
Also, being an expert in Real Estate, the Regional Owner of
RE/MAX Hyderabad, Mr. Balajee Kumar was interviewed on
the topic "Present situation in the Real Estate Industry in
Hyderabad" by Gemini News Channel, which is one of the
leading news channels in the region.
News from LLC
Free capital trends reports now available from RE/MAX Legacy award winners: Dave and Gail Liniger
Commercial!
Through a new relationship with Real Capital Analytics,
RE/MAX Commercial Practitioners around the world now
have access to global property trends and capital flows
across all markets and major property types; Office,
Industrial,
Retail,
Apartment
and
Hotel.
Packed with competitive intelligence and real-time
information, these reports pull massive amounts of data
that strengthen everything they touch. Save hundreds of
hours of time with Capital Trends Reports, which normally
cost thousands of dollars? Now they are available for
download by RE/MAX Commercial Practitioners for free.
Use the reports to:
• Easily make detailed comparisons between markets
• Get meaningful insights into property investment trends
• View historical volume and pricing trends
• Analyze recent investment activity
• View rankings of leading deals, buyers and sellers
IMPORTANT: Guidelines for Reproduction and Use of Real
Capital Analytics Material. You may reproduce and
distribute the reports and accompanying spreadsheets for
your business' internal use. You may extract, paraphrase
or summarize selected information for internal or external
use, provided that such use is limited in scope and that
the content from Real Capital Analytics reports does not
exceed twenty percent of the total content of the
materials.
The Denver Business Journal honored seven business people at its
Second Legacy Awards dinner on June 19 in Denver and it was a very
proud moment to have our Founder and Co-Founder, Dave and Gail
Liniger as one of the Denver Business Journal Legacy Award
Honorees for 2014.
The honorees were men and women who have made significant
contributions to local business and the community throughout their
careers. From corporate CEOs to municipal leaders and grassroots
advocates, these Legacy Award honorees have played an integral part
in building the Mile High City into the dynamic and diverse business
center it is today.
LINK:http://www.bizjournals.com/denver/news/2014/05/09/denverbusiness-journal-announces-2014-legacy.html
June, 2014
RE/MAX Anniversaries for the Month
RE/MAX India owes it success to each one of its Franchise Owners & Broker Associates and we would like to take this opportunity
to extend heartiest congratulations to the below mentioned offices for completing another year with RE/MAX! Thank you for being a
part of the RE/MAX family, we wish you continued success and many more years of strong association with us!
Name of the Region
Office Name
Owner’s Name
Number of Years
RE/MAX MGM
RE/MAX Metro
Vivek Parikh
4
RE/MAX Punjab
RE/MAX Professional Realtors
Vishal Sharma
3
RE/MAX Rest of Andhra Pradesh
& Hyderabad
RE/MAX Properties Plus
Movva Prasad
1
June, 2014
Heroes of RE/MAX India
Top performers for Highest Net Agent in the First Quarter
#2
#1
Anup Nahar
Aashil Patel
RE/MAX Delhi NCR
#3
RE/MAX MGM
#3
Yuvraj Singh
Shekhawat
#3
Munish Gupta
Harit Parikh and
Nirav Vakharia
RE/MAX MGM
RE/MAX Delhi NCR
RE/MAX MGM
Top Listors of the Month
Reader of the Month
#1
Sumanth Gopinath
RE/MAX Southern
Karnataka
Deepti Shukla
RE/MAX Chhattisgarh
Parvesh Girgla
RE/MAX Aad Realty
#2
Prabhakant Halkatti
RE/MAX Solution
Specialist
#3
Roopa Saldanha
RE/MAX Stonebridge
June, 2014
Top Transactors
Sunil Mehta
Ankit Patel
RE/MAX Ronisun
Realty
RE/MAX Metro
Shreya Mody
RE/MAX Matrix
Top Listings
http://www.remax.in/505026004-171
Description: A fully furnished 2 BHK apartment
available for rent with 2 balconies, 2 washrooms & a
store. Well ventilated and good amenities with
parking.
Description: 3 BHK in BPTP Park Life available ready
with features like Exterior
Views Garden Parking Swimming Pool Air
Conditioning Lift/Elevator Security System.
Broker Associate: Parvesh Girgla
Broker Office: RE/MAX Aad Realty
Region: Ahmedabad, Gujarat
Broker Associate: Prabhakant Halkatti
Broker Office: RE/MAX Solution Specialist
Region: Gurgaon, Delhi
Description: Living& Dining, Sit out, Kitchen, Utility,
Store, Powder Room, One Bedroom and indoor lawn
with skylight and Marble Flooring
Description: Backup generator for all common service.
Garden with children play area. Round the clock
security by professional agency Amenities.
Broker Associate: RoopaSaldhana
Broker Office: RE/MAX Stonebridge
Region: Bangalore
Broker Associate: Sandeep Pandya
Broker Office: RE/MAX Dreamz
Region: Ahmedabad, Gujrat
June, 2014
Realty Bytes
The Union Budget and its impact on the Property Sector
The Union Budget 2014-2015 was presented in Parliament under
economic circumstances that required tax revenues to keep pace with
targets. Considering the state of government finances and the current
situation – below-normal monsoons, Middle East tension leading oil
price volatility, the weakness of the India rupee etc., there was not
much room for populism.
However, considering the high inflation and curtailed savings that they
have had to contend with for some years now, taxpayers still expected a
fair shake from the new government, such as enhanced deductions,
reduction in tax rates, interest subvention on home loans and tax
incentives to affordable housing.
Infrastructure:
The infrastructure and manufacturing sectors have been given
paramount importance in this budget, since these are job creating
verticals.
Banks will now be encouraged to extend long-term loans for
infrastructure projects without any regulatory pre-emptions such as
CRR, SLR and priority sector lending norms.
This additional enforcement of banks to support the creation of
infrastructure will result in faster infrastructure creation and the
consequent benefits to the real estate sector.
The budget has allocated a total of Rs. 37,880 crore towards the
The Finance Minister took a cautious, yet courageous path with his NHAI for the construction of highways, and additional Rs. 3000 crore
budget announcement:
to boost road connectivity in the North-East regions.
For the current year, it has targeted the completion of 8,500
Housing:
kilometres of national highways, which are a known real estate
In terms of relief to the housing sector, the budget has allocated Rs. catalyst and will have long-reaching implications on the markets of
4000 crore for low-cost housing schemes.
the cities they connect.
Apart from this, The Union Finance Minister has also indicated that
there will soon be relaxation of FDI norms for the affordable housing Ahmedabad and Lucknow have been singled out as special
sector.
beneficiaries of this budget with the allocation of Rs. 100 crore
Though the government has announced such incentives for low-cost towards the deployment of Metro rail systems in these cities.
housing in the past, the real task lies in the fast execution of the fast The increased connectivity will raise the scope of real estate
execution of these initiatives.
development there and also have an impact of property valuations
It is very positive that the government has taken due note of the over the mid to long term.
demand-supply mismatch in the LIG and EWS housing segments, and it
remains to be seen how fast these initiatives hit the ground in real time. The development of 16 new ports has been proposed at an outlay of
Significantly, the budget has increased the income tax deduction limits Rs. 11,000 crore. Additionally, an allocation of Rs. 11,600 crore has
under 80C, of which the repayment of principal on housing loans is a been made for the development of outer harbour port projects. The
component. This limit has been raised from Rs. 1 lakh to Rs. 1.5 lakh.
combined effect of these provisions will be that there will be an
increase in demand for commercial office space from the
Additionally, the budget has also increased the deduction limit on manufacturing sector in India’s major port cities.
interest payment for housing loans from Rs. 1.5 lakh to Rs. 2 lakh. These
two factors alone will lead to a vastly improved sentiment on the Smart cities
housing markets.
As promised in the new government’s manifesto, it has proposed the
The budget gave further indirect benefits for the residential sector by creation of 100 smart cities across India. The budget has allocated
increasing the individual income tax exemption limit from Rs. 2 lakh to Rs. 7,060 crore towards this end, thereby giving a financial sign-off
Rs. 2.5 lakh.
for this concept.
This will increase disposable income of individuals and would have This will have very positive implications for real estate across all
further implications on their ability to service home loans.
segments, namely residential commercial, retail and hospitality.
Smart cities, by definition, imply considerable demand for technologyConstruction sector
enabled services, and this is a big positive for IT/ITeS companies in
Construction costs have been rising at the rate of 17 per cent over the India. Significantly, as much as one-third of the country’s demand for
last three to four years, and this budget has not provided enough office space emanates from this sector.
measures to bring down these costs. Contrary to expectations, material
costs involved in real estate construction will remain high over the near- LINK:http://www.thehindu.com/todays-paper/tp-features/tpto-medium term, which is bound to put pressure on developers’ propertyplus/the-union-budget-and-its-impact-on-the-propertymargins.
sector/article6202728.ece
June, 2014
Tax incentives for REITs cheer private equity funds like Embassy-Blackstone, DLF, RMZ Corp and others
With the budget providing clarity on taxation for real estate
investment trusts (REITs), market participants and private equity
funds such as the Embassy-Blackstone combine, DLF, RMZ Corp,
Xander, Kotak Realty Fund, Red Fort Capital, Golden State
Capital and others that have accumulated income-producing
assets over the years are firming up plans in this regard.
RMZ, along with Qatar Investment Authority, is looking at
creating a portfolio of about 20 million sqft of office space
across Bangalore, Hyderabad, Chennai and Pune before listing.
Additionally, it will reduce the exposure of the Indian banking
system to the sector. A REIT invests in and owns real estate
assets that produce a stable rental income for shareholders.
This is securitized and can be traded on exchanges, allowing
small investors to participate in the real estate market. The
Securities and Exchange Board of India (Sebi) had notified the
regulations for REITs last year but there was a lack of clarity on
the tax applicable on the structures.
The introduction of REITs will provide a new source of capital for
developers, said Jasmeet Chhabra, managing director, Red Fort
Capital. The fund has so far invested $1 billion in Indian realty
with exposure to top core and core-plus office properties in
India.
"Listing and implementing REITs in India will surely be a game
changer for investors and the real estate sector alike," said Mike
Holland, chief executive officer of Embassy Office Parks. The
builder may set up a REIT early next year and is aiming to double
its office portfolio to 40 million sq ft by acquiring assets across
cities such as Delhi, Bangalore and Chennai over the next six
months.
"We are looking to list office properties by 2015 or early 2016
and will work with Sebi to convince the government to align the
REIT structure as per international standard. REITs should work
"Real Estate Investment Trusts (REITs) have been successfully as mutual funds," said Raj Menda, managing director, RMZ.
used as instruments for pooling of investment in several
countries," finance minister Arun Jaitley said in his budget DLF will take a final view on setting up REITs once there is
speech on Thursday. "I intend to provide necessary incentives complete clarity on taxation and other regulatory aspects, said
for REITs, which will have pass-through for the purpose of group chief financial officer Ashok Tyagi.
taxation."
The developer currently has about 25 million sq ft of rented
This means that the REITs holder will pay tax on income and not assets across the country, which can potentially form part of
the fund itself. Listing commercial properties on REITs will allow REITs. US private equity giant Blackstone along with real estate
builders to raise cheaper capital and will also provide an partner Embassy Group of Bangalore is also treading cautiously.
opportunity for retail investors to participate in India's Embassy is exploring the setting up of a REIT with $1 billion of
commercial real estate market.
assets by 2015.
Commercial real estate is seeing a revival in sentiment but there
is a fear of short supply. According to Cushman & Wakefield
data, approximately 8.49 million sq ft of space was taken up in
the first five months of 2014.
LINK:http://articles.economictimes.indiatimes.com/2014-07"Several players have been collecting rental assets for the last
two years or so in anticipation of REIT rules. This will complete 12/news/51392337_1_reits-ashok-tyagi-rmz-corp
the ecosystem for the growth of corporate real estate in India
and builders as well as funds will find a clear exit," said Anckur
Srivasttava, chairman of GenReal Property Advisers.
"This will also help increase the stock of commercial offices in
India." Investors with large portfolios, such as the familyowned
RMZ Corp and DLF, are seeking more clarity before seeking a
REIT listing.
June, 2014
RE/MAX India Welcomes its New Broker Associates
June 2014
Name
Office Name
Region
Rajeev Agarwal
RE/MAX Realty Investmart
RE/MAX Delhi
Mohd. Arshan
RE/MAX Solution Specialists
RE/MAX Delhi
Harshvardhan Agarwal
RE/MAX Complete Solutions
RE/MAX Delhi
Stavan Belani
RE/MAX Advantage
RE/MAX Gujarat
Sunil Meha
RE/MAX Ronisun Realty
RE/MAX Pune
Roopa Saldana
RE/MAX Stonebridge
RE/MAX Bengaluru
P. Satish Reddy
RE/MAX Real Estate Consultants
RE/MAX Rest of Andhra Pradesh
P. Nishanth Kumar
RE/MAX Real Estate Consultants
RE/MAX Hyderabad
RE/MAX India Welcomes its New Broker Office
June 2014
Region Name
Office Name
Broker Owner
RE/MAX Haryana
RE/MAX Corporate Services
Roop Narien
June, 2014
Reeling it in: Watch RE/MAX India on Youtube, www.youtube.com/remaxindiahq

RE/MAX Realty Review

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