The address | Fifth Edition

VOLUME-05 August, 2015
COVER STORY
Dubai - Jewel of the Desert
Monthly infozine of Square Yards Consulting
THE

Editor’s Note
DearReaders,
Thank you very much for the warm feedback for the July edition of The
Address. All the feedback goes into bettering our efforts for each edition that
wecurateforyourreadingpleasureeachmonth.
Thismonth’scoverstorycoversaninterestingdevelopmentaltrendbrewingin
thedessertsofDubai-AffordableLuxuryhousing.
You will also ﬁnd in depth case studies on the commercial capital of India -
MumbaiCityaswellasabroadoverviewofthecityofjoy-Kolkatta.
Some useful tips on buying home insurance and keeping a control over the
budgetsoffurnishinghomesarealsoapartofthismonth’sedition.
We also cover trends in Theme based townships sprouting all over India for
discerning home buyers. A technical article on FSI and its implications is also
featuredinthisinfozineapartfromaneyeopeningreportonMasterBedroom
sizesin5citiesacrossIndia.
Hopefully you shall enjoy this edition of The Address as much as we enjoyed
bringingittoyou.
Lookingforwardtoyourappreciationandfeedback!

In This Issue
Designed and published by Team Square Yards: Content: Somesh Rastogi, Paritosh Kashyap, Amita Singh. Design: Hardik Patel,
Ritesh Bhagat, Indrajeet Parihar.
Free Publication. All the contents of The Address are only for general information and/or use. Such content do not constitute
advice and should not be relied upon in making (or refraining from making) any decision. Any speciﬁc advice or replies to queries
in any part of the magazine is/are the personal opinion of such expert/consultants/persons and not subscribed to by The Address.
The information in The Address is provided on an AS IS basis, and all warranties, expressed or implied of any kind, regarding any
matter pertaining to any information, advice or replies are disclaimed and excluded.
To order reprint contact: Square Yards
Trivia: Tourism Slogans
Home Insurance
Decoding - Floor Space Index (FSI)
43
13
25
Master Bedroom Analysis 37
21
What’s Hot
17Case Study
07Cover Story
In conversation
33
Kaleidoscope
29
Spending on Home Furnishing
39
03
Theme Based
Townships

Theme Based Township
An Emerging Trend in Real Estate
With the changing trends in the real estate market,
innovative approaches need to evolve to keep pace with
consumer tastes.
In view of this development, various builders are taking
pioneering steps in launching “Theme based
Townships” to stand out from the crowd of almost
identical projects. Adding a ﬂavor and a sense of
uniqueness to the township culture, these theme based
projects are ranging from cultural themes like Spanish,
Greek and Mediterranean to interest-related themes
like Sports, Hollywood, etc.
Gone are the days when home buyers were charmed by
the amenities like swimming pool, clubhouse,
gymnasium and indoor game rooms in the township
plans. Now-a-days, individuals look for glamorous
towering concepts. This usually happens with those
buyers who have travelled across the globe and have
had a glimpse of alluring realty concepts outside. This in
turn has shaped their lifestyle aspirations and they
want their dream home to be a reﬂection of the same.
Not only the developers, even Indian government is
pumping money in these themed township projects.
Recently, West-Bengal government has come with a
township concept based on the theme of ‘Analytics’. The
concept of this city of analytics was launched at the
‘Business Analytics Innovation Summit @ Bengal’.
03

Here are some of the popular themes on which some of the renowned township projects
are coming up in India:
Mediterranean Theme
Such themed projects offer an abode that exemplifies stylish architecture and tranquil
surroundings of the Mediterranean regions. From arches, porticos to cut-stone facades
and railings and lush greenery to beautifully landscaped gardens every bit is
Mediterranean in feel. Pebbled pathways, vast landscaped gardens and ornate fountains
add to the beauty of this theme. Exemplary projects of TATA Housing - La Montana, Pune &
Sobha City, Bangalore are based on Mediterranean theme.
Singaporean Theme
A Singaporean-themed township offers eclectic styles of spacious and well-built
apartments, bungalows and villas that illustrate the lively and diverse culture of Singapore.
The scenic beauty of gardens complement and harmonize with the elegant and handsome
aesthetic classical architecture from Singapore. Bloomfield in Pune is a Singaporean-
themed township developed by Amit Housing.
Disney Theme
Inspired by the concept of Walt Disney’s theme parks, residences designed around this
theme offer a veritable fairyland to call home. These townships are a truly enthralling
experience, especially for children providing colorful play areas with favorite Disney
characters represented in one form or the other. Lakeside Habitat, a project by the
renowned developer Prestige Group, is one of the distinct new launches in Disney theme in
Whitefield, Bangalore.
Roman Theme
The roman architecture theme illustrates a perfect blend of classic and modern Rome
providing a serene environment for a refreshing and royal lifestyle. Large amphitheaters
in lush green wide landscapes with classic pillared apartment buildings make the perfect
amalgamation of modern and classical world assuring its inhabitants a pleasing lifestyle.
Supertech Limited has come up with this unique residential project, Supertech Romano, in
Noida.
05

Spanish Theme
Spanish themed residences illustrate the elegant architecture of planned townscapes with
typical Spanish courtyards, patios and arcades. The traditional gardens along the aesthetic
motifs covering the landscapes make a fruitful attempt to keep up with the Spanish culture
and architecture. Villa Viviana a Spanish themed township is a joint venture of Arihant
Housing and J P Morgan in Chennai. Viviana brings out the essence of the Spanish lifestyle
in its design and structure.
Golf Theme
The USP of these golf-themed housing projects is the availability of sports facilities for
residents along with designer golﬁng fairways, tree-lined streets, pedestrian paths, cycle
tracks and much more. These themed townships provide a resort-like environment as
more than 80 per cent of the project area is dedicated to greenery with landscaped parks,
artiﬁcial lakes, fountain sculptures along with segregated children play areas, bird
sanctuaries, organic farms, rain-harvesting facilities, and well-manicured walkways.
Developers like Logix, Antriksh, Shubhkamna, Brys, etc, have already launched luxury golf-
themed housing projects in Noida.
06

Dubai: Crown in the Dessert
Once a small ﬁshing village, Dubai has miraculously grown into a skyscraping mega
metropolis in less than 50 years. Touted as the focal point of the Middle Eastern (ME)
economy, the Emirate is boastful of a vibrant economy driven by multiple key sectors
such as real estate, tourism, retail and trade etc.
On the backdrop of a phenomenal economic growth, Dubai has also emerged as one
of the most sought after locations in the world to work, invest and start business
ventures. In fact the city boasts of over 200 nationalities - a phenomenon
unparalleled in the world.
Cover Story : Dubai
07

Dubai: One of the fastest appreciating Realty Market
Dubai's economic surge in the recent past has been synchronized with an equally
vibrant real estate sector. Dubai's realty growth juggernaut has been propelled by
two fundamental factors. Firstly, the growth in economic activities, greater
employment opportunities and a large expatriate population base has resulted into
demand for world class housing, thereby driving the realty market. Simultaneously,
as a part of its long term strategic plans, the Emirate has been smartly developed and
marketed as a glittering global metropolis, attracting regional and international real
estate investment in leaps and bound.
It was one among the fastest growing markets across the globe in the 2005-08 period
registering annual price appreciation to the tune of 30%. During 2008-09, due to the
global subprime crisis the hitherto buoyant Dubai realty market underwent a
slowdown.
Nevertheless, on the backdrop of a resurgence in the economy, Dubai's real estate
market soon bounced back. During 2013, Dubai's property market appreciated by
over 50%. Similar sentiments continued in 2014. Over 140 nationalities have made a
whopping real estate transaction of AED 218 (USD 59.4) billion in 2014. Indians are the
biggest expatriate investor community followed by Britons, Pakistanis, Iranians and
Canadians.
08

Rise of Secondary locations
Some of the primary real estate locations in Dubai's real estate landscape involves
Downtown Dubai, Jumeirah Lake Towers (JLT), Dubai Marina and Business Bay etc.
However the relentless growth of the recent past has also resulted in skyrocketing
of property prices in numerous primary locations. The unprecedented rise in
property prices have been associated with the emergence of new frontiers of
growth in Dubai in the form of new upcoming locations such as such as Motor City,
Sports City, Arabian Ranches and Studio City.
Based on the concept of affordable luxury these new locations offer slightly
economic alternatives in contrast to some of the primary locations, without
compromising on luxury and glitter, which Dubai is renowned for. Similarly as
upcoming locations, these micro-markets offer ample opportunities for growth in
the coming times, thereby offering prudent investment opportunities.
09

Dubai Studio City
One such upcoming location is Dubai Studio City, which offers 100% Lifetime
Ownership. Part of TECOM & Dubai Media City, it is building Hollywood style studios to
support international and regional film & media production. Growing at a scorching
pace, it has attracted over 300 companies so far.
Dubai Studio City along with its prolific neighborhoods comprising of Arabian
Ranches, Sports city and Motor city also constitute an upcoming residential micro-
market in Dubai - Pioneering affordable luxury. On the backdrop of high demand
emanating from the nearby office markets coupled with regional and international
investment activities, anticipated annual growth of Dubai Studio City is in tune of 9-
10%. The Dubai Metro is expected to enter by 2022, which will further add to its
attractiveness.
10

Danube: From Mumbai to Dubai
Started by a Mumbai based businessman 2 decades
ago, Danube today is one of the largest building
materials company in GCC. It boasts a product
portfolio of over 25,000 products under one roof.
Having presence spread across GCC, Canada and
Africa its clientele include highly regarded names
such as Shangri La, Burj Al Arab, Grand Hyatt and
Dubai International Airport. Recently it has also
made a noticeable entrance into Real Estate
Development.
Its 1st two projects, Dreamz and Glitz 1 & 2 enjoyed
frantic rush and were sold within few hours of
launch. Located on Dubai Studio City and based on
the concept of affordable luxury, the projects ﬁnd
patrons among both international investors and the
emerging expatriate class of the emirate.
Danube Glitz 3 & 4
After the success of Danube Dreamz, Glitz 1 & 2, the
developer has launched Glitz 3 & 4. Conceptualizing
the idea of blending luxury with affordability, the
project comes up with 1, 2 and 3 Bedroom
Apartments. It has in built lifestyle amenities which
have been designed speciﬁcally for the young
contemporary populace.
Locational Advantage
8 Minutes from Mall of Emirates
8 Minutes from Sheikh Zayed Road
1 Minute from Arabian Ranches
11

5 Reasons to Invest in the Project
1. Based on the Concept of Affordable Luxury
2. High Appreciation expected in the coming years
3. Strategically Located
4. Trusted Brand name of Danube
5. Dubai offering stable and Robust investment environment
1% Payment Plan brought to you by Square Yards
1 Bed Room Apartment -
Price AED 800,000*
As per monthly plan, pay only AED 8000*
2 Bed Room Apartment –
Price AED 1,100,000*
As per monthly plan, pay only AED 11,000*
3 Bed Room Apartment –
Price AED 1,350,000*
As per monthly plan pay, only AED 13,500*
12

Home Insurance,
A Need or a Necessity??
Here is why you need Home Insurance:
It is an astounding fact that after people have poured in crores
of rupees into building their houses and lakhs on furnishing
them, providing an insurance to their abode is not a concern
for them.
In today’s World uncertainty is the only certainty. India’s
geographical features and climatic conditions in South-east
Asia make it fairly vulnerable to natural disasters. Home
insurance is the most neglected entity in India where the
threat perception and insecurities with life’s most valuable
asset are even higher. Home insurance protects both your
house and property at a minuscule cost and the benefits far
outweigh the cost. A fire or a flood may not damage the
structure, but will ruin everything else inside the house. So
you also need to insure the contents of the house against the
damage.
13

Home Insurance Types:
Insurance titled “Building Insurance” typically covers a
landlord against damage, destruction and loss of rental
opportunities in their building. Building insurance is
required for any mortgage on a property, to protect two
main parties, the proprietor and the lender. Lenders usually
insist on including this cover with the mortgage agreement.
Building insurance is required for homes, businesses, and
government and public property alike, whereas house
insurance is exclusive to dwellings for families.
“Home insurance” is a form of insurance that protects the
homeowner from various hazards, covering the losses
incurred to one’s home and its contents. The cost of home
insurance will vary greatly depending on what kind of cover
you wish to have and the amount of content you wish to
insure. No home insurance policy is the same, so be sure to
research what kind of protection your insurer is offering, for
example, if you happen to live in an area at risk of ﬂooding,
your regular home insurance will not cover this unless
speciﬁed. Home insurance is typically a term contract,
meaning that those wanting insurance will have to pay their
insurer every term. The cost of your home insurance
premium will inevitably come down to what risk your
property faces from damage, theft and so on. It is well
worth shopping around for the best deals online, using
price comparison sites and money saving websites to help
get the best deal for you and your home.
14

Additional Riders to Home Insurance:
Home insurance covers losses to the structure and content of your home
due to natural and man-made calamities. In the event of an
environmental disaster or an accident on your property, homeowners
insurance is a safety net that can protect your finances from potential
depletion. Home insurance policies also come with specific riders like:
1) Fire and perils cover -The policy provides cover in case of accidental
damage due to fire, lightening, storm, cyclone, and flood It also provides
an extended cover for damage caused by riots, strikes and missile testing
operations.
2) Earthquake Cover - The policy offers coverage against loss or damage
to any of the insured property. However, many policies do not cover flood
or overflow of the sea, rivers and lakes due to earthquake.
3) Burglary and Theft Cover - The contents of home are also covered
against burglary or theft. The coverage will also be extended to silver
articles, jewelry, precious stones and other valuable items, provided
these are kept in a locked safe within your home premises.
15

Points to remember while choosing a Home Insurance policy:
There are various home insurance providers in India that offer different plans as per individual
needs. To ease your selection, we have listed down important points which should be evaluated
while choosing one home insurance company over the other:
Check premium and coverage: Firstly, evaluate risks which your home is facing or might face in
future. For example, if you live in a flood prone area then you should ensure that your home
insurance policy is covering flooding risks also. Also, while checking coverage, it is prudent to
check if the premium fits your budget or not.
Check claim settlement ratio: A good company is judged by the turnaround time of settling
claims. The very purpose of insurance will be defeated if you do not get a claim when it is required.
So, it is worthwhile to check the claim settlement record of companies before zeroing in on one
insurer.
Look at the company’s reputation: The first and foremost characteristics of a good company is
that it has a customer friendly staff. It is always important to choose a company who is well
equipped to assist you at any point of time.
Home Insurance unlike Life insurance has a significant impact on security against any uncertainty.
The concept has evolved with rapid urbanization and parallel development across various
industries.
16

Mumbai: The Commercial Capital of India
Mumbai, formerly known as Bombay is the ﬁnancial capital of India. It is spread
across an area of 600 sq kms (including suburbs), making it roughly equivalent
to Tokyo and Seoul. It has a population of over 21 million - the sixth highest
globally and larger than some of the major international cities such as London
and New York.
The city extends from Colaba in the south to Dahisar and Bhayandar in the north
and Mankhurd in the east. It also includes Navi Mumbai, the satellite city of
Mumbai and Thane, ‘The City of Lakes’ whose proximity to Mumbai has made
it culturally a part of it. The former is located on the South-East of Mumbai,
whereas the latter is located on the North-Eastern part of the city.
True to its name as the commercial capital of India, Mumbai offers huge
business opportunities and higher standard of living- often drawing parallels to
Shanghai, its Chinese counterpart. Its status as one of the most sought after city
in India has been associated with a series of infrastructure related development
along with new commercial and retail spaces to satiate the demand of its ever
increasing population.
Case Study Mumbai
17

Key Infrastructural snapshot of Mumbai
Ø Western Express Highway begins from near the Mahim creek and extends to
the Mira Road-Dahisar Stretch, connecting Bandra, Andheri, up to Dahisar.
Passing beyond the city border, the 25 km long road continues as the
National Highway (NH–8) towards Gujarat.
Ø Eastern Express Highway, serves as a link to the NH- 3 and it connects all the
suburbs of North Mumbai with South Mumbai. Chatrapati Shivaji Terminus
(CST) is the starting point of the expressway which continues up to Thane.
The Sion Panvel Highway cuts the Eastern Expressway at the RCF junction,
connecting it to the outer areas of the city.
Ø Santacruz – Chembur Link Road (SCLR) links Western Highway at Santa Cruz
to Eastern Highway at Chembur. It has drastically cut down the travel time
between the Western suburbs and Navi Mumbai.
Ø The newly introduced Monorail Service has been very beneﬁcial for the
residents of the Wadala-Chembur corridor in the suburbs of Mumbai.
Ø Mumbai Metro: The Operational Versova-Andheri-Ghatkopar Metro
through its smooth and pollution free ride has signiﬁcantly brought down
pressure on the suburban railway system, besides reducing vehicular
congestion on east-west corridors. The proposed Charkop-Bandra-Mankurd
and Colaba–Bandra–SEEPZ metro link will further help in the decongestion
of the city.
Ø Eastern Freeway has reduced the travel time by ~45mis between South
Mumbai and Ghatkopar.
Ø Upcoming Navi-Mumbai International Airport at Ulwe will give a major boost
to Navi-Mumbai‘s realty sector.
18

Mumbai Realty Market Overview
Mumbai’s status as the commercial capital of the country, its higher standard of
living and slew of large scale infrastructure projects has led to a vibrant realty
market. Due to high demand, Mumbai has been one of the most sought after
realty locations in the recent past. However, higher demand has resulted into
skyrocketing of the prices of individual units - falling beyond the threshold of
many buyers and investors. This has resulted in certain changes in property
market dynamics such as diversion of some investors towards upcoming
markets in Bangalore and Pune along with emergence of peripheral locations
as new engines of growth and development.
Notwithstanding the competition, Mumbai is still boastful of a robust and stable
realty market, which draws its strength from sustained commercial activities,
new infrastructure development and rapidly growing peripheries. Not to
mention, a general uplift in the nation’s economic mood in recent times - as the
country’s commercial capital, Mumbai will be the focal point of a wide range of
new economic and commercial initiatives. Mumbai’s realty market can majorly
be divided into 5 micro-markets: Central Mumbai, South Mumbai, Western
Mumbai, Thane Region and Navi-Mumbai.
19

Conclusion
Notwithstanding the recent sluggishness in some of the locations in Mumbai
due to high prices, Mumbai offers great prospect to realty investors. There is a
sense of calculated optimism in the market on the backdrop of recent changes
in the government last year along with new infrastructure projects such as
SCLR, Metro line etc. integrated with surge in commercial, retail and industrial
activities. In mainland Mumbai, key locations that will drive growth in the
coming time include markets like Chembur, Worli and Bandra West etc. Likewise
satellite cities such as Navi Mumbai and Thane on account of subdued price and
surge in infrastructure and commercial activities will continue attracting
interest. On an average, prices will showcase upward trend in the coming times.
South Mumbai and few locations in Western Mumbai can demonstrate dip or
ﬂattening of the prices. Over two thirds of the investment in the Mumbai market
will emanate from end users. Pure investment activities will be more
concentrated in places such as Ulwe, Uran, Panvel and Kharghar etc. in Navi
Mumbai and Thane.
20

Godrej Azure (Pre-launch)
Location:- South Chennai
Price & Conﬁguration:-2BHK, 3BHK,
starting from 26 Lakhs onwards
USP's:-
1. Connectivity
2. Accessibility to major IT Parks,
hospitals, schools & colleges
Purva Mayfair (Pre-launch)
Location:- South Chennai
Price & Conﬁguration:-2BHK,
starting from 58 Lacs Onwards
USP's:-
1. 10% Less than market Price
2. Exclusive 2 BHK units on
Pre-Launch
21
What’s Hot

Prestige Song of South
(Pre-Launch)
Location:- Bangalore
Price & Conﬁguration: 1BHK, 2BHK,
2.5BHK, 3BHK, 3.5BHK,BHK
starting from 29 Lacs onwards
USP's:-
1. Ideally located near the
coveted IT Park – The
Electronic City
2. Very good connectivity to
main locations
3. Ring Road connectivity at Just
3kms away (NICE Road)
4. 50% Open Space
Hiranandani (Edina &
Bayview Towers)
Location:- Chennai
2BHK, 3BHK starting from 87 Lacs
Onwards
USP's:-
1. 25:75 scheme
2. Rent back offer: 30000
per month for 18 Months
3. Booking Amount: 4 Lacs
22

Omkar Ananta
Location:- Goregaon East
Price & Conﬁguration:-2BHK,
starting from 1.39 Crore onwards
USP's:-
1. GREAT LOCATION
AT GOREGAON (E)
2. WITH LIMITLESS VIEWS
3. Easy connectivity to JVLR,
WEH, GOREGAON STATION.
4. POSSESSION BY MARCH
2017.
Sethia Sea View
Location:- Goregaon West
Price & Conﬁguration:-1.5BHK,
2BHK starting from 1.24 Crore
onwards
USP's:-
1. Seaview Apartments at
Goregaon West
23

Lodha Park
Location:- South Mumbai
Price & Conﬁguration: 1BHK, 2BHK,
3BHK, 4BHK, 5BHK starting from
4.04 crore onwards
USP's:-
1. The most vibrant façade of
Mumbai
2. Inspired by the great parks in
the world like Central Park,
Hyde Park, New York etc
Godrej 101
Location:- Gurgaon
2BHK, 2.5BHK, 3BHK, 3.5BHK
starting from 84 Lacs onwards
USP's:-
1. Attractive payment plan of
20:20:40:20. Limited period
offer.
24

Floor Area Ratio (FAR or FSI) = (Total covered area on all floors of all buildings on a
certain plot, gross floor area) / (Area of the plot)
An architect can plan for either a single-story building consuming the entire allowable area in
one floor, or a multi-story building that rises high above the plane of the land, but which
consequently results in a smaller footprint/floor plate than would a single-story building of
the same total floor area (As shown in the Image). Certain types of spaces, such as
basements, parking areas, and utility rooms, are exempt from FSI, which means that they do
not need to be counted in the FSI calculations. By combining the horizontal and vertical limits
into a single figure, some flexibility is permitted in building design, while achieving a hard
limit on at least one measure of overall size. The Floor Space Index is dictated by the
government through its authorized agencies. It varies from location to location, and is also
transferable from one area to another.
What is FSI?
Floor Space Index or FSI is truly a mystic number in Real Estate across the world. Basically this
number denotes the upper limit of the built space you may construct on a given plot. It is the
ratio of permissible built-up area to the plot area. Thus FSI directly impactshow much a
developer benefits from a particular land parcel.
Decoding - Floor Space Index (FSI)
25

Foundation of FSI
A post-World War II innovation, America introduced a new form of building control. This is
called FSI (Floor Space Index) in India and FAR (Floor Area Ratio) everywhere else in the world.
It is the ratio of built-up area of all floors on the plot to the area of the plot itself. The FSI
regulation was welcomed by architects as a new breed of FSI friendly Architects were born.
They liked the design freedom to reduce the footprint of the building and increase the
number of floors, while still observing the FSI rule which sets the total built-up area allowable
on each particular plot. But from the authorities’ point of view, the FSI specified has to be
carefully managed to ensure that the extent of built-up floor space permitted in a locality
does not exceed that locality’s infrastructure capacity, in regard to water supply and
sewerage of course but, more importantly, in regard to transport and crowding on the
streets.
26

Difference between FSI and Fungible FSI
The word fungible - from the latin root fungiblis - describes something that acts as a
replacement for something else. The municipal corporation of Mumbai introduced this
system to curb misuse of existing building regulations by developers. Developers would
build space over and above the allowable FSI by exploiting some grey areas in building
regulations. These grey areas centered on things that were free of FSI, or not counted in FSI
calculations, such as flower beds, services shafts, and balconies. In the fungible FSI system,
the allowable FSI on a plot is increased by 35%, with a maximum cap on the total construction
area, with no exemptions. This serves to reduce overbuilding on plots by developers. The
fungible FSI seeks to act as a replacement for or a legalization tool of the misuse of
regulations, but with a clear mathematical limit that should not be exceeded. As of 2015,
fungible FSI is applicable to all plots in Mumbai with the exception of those that fall under
Coastal Regulation Zone (CRZ) limits.
Current status of FSI in Mumbai
The Floor space index in Mumbai varies depending on the development ensued upon.
Generally an FSI of 1.5 - 1.6 is considered in the island city, and an FSI of 1 in the suburbs.
However for redevelopment, slum rehabilitation, making common recreational areas,
construction of low range apartments etc., the Government helps compensate the builder by
providing additional FSI, so that the developer can benefit out of rehabilitating old
constructions, making more public utility areas etc. Developers can also buy additional FSI
by paying premium for it, so as to build dry areas, flower beds etc.
27

New FSI Policy – “Mumbai’s Draft Development Plan 2034”
The Development Plan 2034 has come up with maximum permissible floor space index (FSI)
foreach plot area in Mumbai. Realty players have welcomed the Municipal Corporation’s
proposal to increase floor space index (FSI) up to 8 in the Development Control Rules to be
applicable till 2034. The permissible FSI will eventually increase as per the locations with
better infrastructure connectivity, accessibility, area’s future potential, its proximity to transit
stations and the existinglevels of FSI consumed.
The Pragmatic side of the New FSI Policy
Ÿ The new Development Plan proposes FSI to accommodate the expected increase in
Mumbai’s population both on residential and commercial fronts.
Ÿ Transit Oriented Development (TOD) is encouraged by providing higher FSI for areas that
are well connected by public transport and quite close to railway stations and existing and
upcoming metro stations.
Ÿ The new DP finally removes all ambiguity around calculations of what is counted in FSI;
now, there is nothing that can be built and not be accounted for as free of FSI. This brings
in much-needed simplicity and transparency, and reduces the scope for manipulation.
The Idealistic side of New FSI Policy
Ÿ For the Western Suburbs, higher FSI may be largely impractical because of the civil
aviation funnel and road width requirements
Ÿ Developers are disincentivized from providing amenities such as swimming pools and
clubhouses in their projects, as they are part of FSI to be paid for but do not generate direct
revenue
28

Kolkata (formerly Calcutta) is the capital of the state of West Bengal and the second largest
city in India (after Mumbai). If Bangalore is the Seattle of India, than Kolkata is the sub-
contintent’s London. It is an ‘in your face’ city that shocks and charms the unsuspecting
visitor. Abject poverty mixed inexplicably with crumbling British Raj-era gems, sprawling
gardens and historical colleges. Long known as the cultural capital of India, Kolkata
continues to spawn generations of poets, writers, film producers and Nobel Prize winners. If
your trip only allows for a visit of one or two of India’s metropolitan cities, then definitely
consider placing Kolkata on your itinerary. Love it or hate it, you definitely won’t forget the
city on the banks of the Hooghly.
Kaleidoscope – Kolkata, City of Palaces
29

Kolkata district
Kolkata/Southern fringes|Southern fringes — the rapidly mushrooming localities toŸ
the south of the city include Behala, Jadavpur, Garia and Narendrapur.
South Kolkata — the posher part of the city covers Ballygunge, Bhawanipur, Alipore,Ÿ
New Alipore, Rash Behari and Tollygunge.
Esplanade — the colonial district is still the central business area and is considered theŸ
heart of Kolkata. Made up of Park Street, Mirza Ghalib Street (Free School Street),
Dalhousie Square, Chandni Chowk, Barra Bazaar and Sudder Street.
Maidan — The area consisting of the huge park and its surrounding neighborhoodsŸ
includes Fort William, Strand Road, Khidirpur, Dufferin Road, Hooghly Bank and
Chowringhee.
North Kolkata — the older area of the city, a fascinating district dominated by narrowŸ
little lanes and hundreds of century-old bulidings includes Chitpur, Bagbazar,
Belgachhia, Shyam Bazaar, Shobha Bazaar, Maniktala, Jora Sanko and the famous
College Street area. Also situated here are the Sealdah station, one of the largest train
hubs in India, and the newly built Kolkata station. Dum Dum being the prime
communication hub of Kolkata having International Airport, Metro Rail, Circular Rail,
Ground Rail.
Northern fringes — the large industrial area to the north of the city includes Kashipur,Ÿ
Dumdum, Belghoria, Khardah, Panihati, Titagarh etc. where there are a number of
factories, including jute, paper, cotton, ordnance and chemicals.
East Kolkata — rapidly developing, specially driven by the IT sector and home to India’sŸ
largest mall encompasses Salt Lake City (Bidhan Nagar), Rajar Hat, Lake Town and the
E.M. Bypass. Many ﬁve star hotels, theme parks, posh housing estates and techno parks
are being built in this area.
Howrah — while technically its own city, Howrah is very much a part of the Kolkata metroŸ
area, and Howrah train station is where you’ll arrive/depart from if connecting with
anywhere north or west of Kolkata.
30

Economy
Kolkata is the economic hub of eastern India and with a vast hinterland it bustles with
economic activities. Kolkata creates a huge number of employment and supports many
migrants from neighboring states and other parts of the country. The landscape of the city is
also fast changing with ﬂyovers, gardens and several new commercial establishments.
Kolkata is home to many industrial units of large Indian corporations, whose product range
is varied and includes - engineering products, electronics, electrical equipment, cables, steel,
leather, textiles, jewellery, frigates, automobiles, railway coaches and wagons. Kolkata is also
starting to become a major hub for the IT (Information Technology) industry. With the
formation of New Town at Rajarhat and extension of Salt Lake’s Sector-V, Kolkata is rapidly
turning into a pro-IT town. More and more businesses are coming to Kolkata to set up their
oﬃces.
The city has transformed from Cultural capital of west Bengal to a Commercial hub of the sub
continent and a leading gateway for future India.
32

Do you think people still prefer the traditional medium of house hunting or they have
turned to the internet?
According to a Google survey conducted last year on Internet
influencing real estate transactions, 53% of overall real estate
transactions are being influenced by the Internet today. This pegs the
market to about $43 billion worth of real estate which is estimated to grow
to about 140 $ billion by 2017. The Internet audience base is expected to
reach over 450 million in India by that time.
Out of the total searches happening on the internet 40% are happening on
mobile and 73% of people who use mobile do so via mobile applications which
makes it one of the strongest platforms for real estate queries. Based on the
above, it is needless to say that more and more people are going mobile when
hunting for a property.
What benefits do property portals offer to home buyers? How is
squareyards.com different?
Property portals started off as platforms to offer consolidated information of all
the possible property options under various search criteria and hence have been a
boon to the herculean task of searching for the right property. For instance, buyers
can easily find out a range of properties of specific size, falling within a particular
budget and located in a particular area in just a few clicks.
But there are 2 broad problems with such listing portals. The listings on these are paid and
hence might not be very transparent. Also the recency and accuracy of information is
questionable.
33
In Conversation with Mr. Biswaroop Padhi.
Principal Partner - Square Yards

At squareyards.com we have ﬂipped the property search experience upside down. Our search
begins with the customer's need in mind. A well-deﬁned 'discovery process' powered by
powerful decision driving tools help a home buyer arrive at the ideal set of properties suiting
his/her requirements.
A large team of Data Engineers incessantly plug in the most recent data into our powerful big-
data driven algorithms in the backend to spool a wide array of intelligence which empower a
home buyer to arrive at the best suited set of properties on the basis of more than 128
different macro and micro parameters.
No amount of my words will do justice to the portal, it is to be explored to be believed.
Mr. Biswaroop Padhi.
Principal Partner - Square Yards
34

What is Scapes?
Scapes is a trend-setting online real estate booking engine developed by the Tech
team at Square Yards. Our maiden project was for a reputed North India based
developer which received humongous response from property buyers across the
globe.
A total of 357 2BHK, 3BHK and 4 BHK apartments worth more than USD 40 million
were booked through the SCAPES platform in under 19 hours.
What is the reason for these huge booking numbers?
SCAPES has been conceived to provide a richer home buying experience for pre-
launch properties. In a pre-launch project, home buyers do not even have a sample
flat to feel and experience the home that they will finally get upon completion.
SCAPES provides complete convenience and transparency regarding browsing and
selecting the desired flat on a very user friendly online portal. With a variety of 2D,
3D layouts, Panoramic views of the project exteriors and home interiors, details of
amenities, features, payment plans and instant booking option available online
24X7; it offers home buyers unparalleled convenience.
Another key feature of the SCAPES technology is a wide array of Virtual and
Augmented Reality walkthroughs and experience tools which offer home buyers a
near real experience of the home they will buy without going through the grind of
tedious site visits or browsing through hard copy brochures.
What can we expect from Squareyards on the Technology front in the future?
Keeping the customer at the centre of all our technology driven initiatives, we are
committed to push the frontiers of technology to being in unparalleled experiences
and decision making power to the hands of the home buyer.
A slew of applications addressing pain points of the home buying experience are in
various stages of development and we shall be unveiling them to our esteemed
clients in times to come.
36

Recently Square Yards Research wing unveiled its Master Bedroom
Analysis of five major Indian cities, comprising of Bangalore,
Gurgaon, Mumbai, Noida & Pune.
The research insights, which has been both obvious & not so
obvious, indicate some interesting facts about Indian realty market
Mumbai, the commercial capital of India has the smallest master
bedroom sizes in 1 & 2 BHK units in tune of 104 & 131 sqft
respectively. The smaller sizes of the apartments are indicative of
the prevalent space crunch in the city and the exorbitant prices that
prompt developers to come up with smaller unit sizes.
Interestingly in the case of Mumbai, the same trend completely
reverses in case of bigger apartments. Across all the five cities
studied under the survey, Mumbai boasts of the biggest master bed
room sizes in the 6 BHK segment. This indicates the financial
prowess of Mumbaikars across the high end residential units.
Deciphering the Indian Realty through
the Master Bedroom Analysis
37

Bangalore
Gurgaon
Mumbai
Noida
Pune
1 BHK 2 BHK 3 BHK 4 BHK 5 BHK 6 BHK
130 153 179 246 275 329
147 154 174 219 289 350
104 131 158 220 273 397
129 134 160 200 246 211
114 140 173 260 290 260
Average Master Bedroom Size (in Sq.Ft.)
38
Gurgaon and Bangalore remain almost neck to neck in each category,
indicating that developers are targeting similar type of demography,
which are ideally the IT/ ITES clientele as both the cities are boastful of
vibrant IT/ITES sector. Other than the 6 BHK segment, Pune also
demonstrates similar trends, on the backdrop of a booming IT/ ITES
scene.
Noida remains at smaller sizes than Gurgaon in all categories indicating
the budget housing trend of Noida and inclination of Gurgaon more
towards luxury development.
City / Bedrooms

The concept of simple living is now fading. Lifestyle aspirations are high and the earning
capacities are increasingly matching these aspirations. People desire for a home that is ultra-
plush and has a spectacular appeal. They want a home with quality and grandeur.
For many homeowners, especially first-time home buyers, the urge to make a house your
own can be strong. However, overspending on home furnishings like decorations, furniture
and freestanding appliances can eat away at resources that can be better spent on other
aspects of home ownership. Before splurging on an expensive new rug to cover a damaged
floor, consider investing in a carpet or durable but inexpensive flooring. A rug will leave the
house with you if you move and bandages the issue without directly addressing it. New
flooring, on the other hand, can add value to your home and reduce vulnerabilities that
homeowners’ insurance providers frown upon.
Spending on Home Furnishing –
How much is too much??
39

Everyone wants to personalize a new home and upgrade what may have been temporary
apartment furniture for something better, but it is suggested not to go on a massive
spending spree to improve everything all at once. As nice as solid maple kitchen cabinets
might be, they aren’t worth jeopardizing your new status as a homeowner.
Various home improvement projects and house ware purchases are grander than others,
but with a little do-it-yourself effort and prioritization, you can make choices that have a
positive effect on your home’s value rather than a neutral one. Some of these expenditures
might be out-of-reach in terms of cost for the time being, but setting money aside to make
meaningful updates will improve your home’s valuation in the long run.
40

Investment or Own Stay
This is the deciding factor. Though it is obvious that if you are buying a property for
investment purpose then you will not spend much on Home Furnishing. You will be more
liberal in budgets when you are buying a property for your own stay. To avoid heavy
spending, whether you are buying for an investment or own stay, you should always think
that you are buying as an Investment.
Movable / Detachable Fittings
You should try to opt for as many movable or detachable items as you can. It will help to carry
the setup of your “home” in case you shift city or sell the home. It will also help to save future
costs. In case you are selling, you can negotiate better if most of the items are detachable. If
they are fixed then it will be a loss as you cannot move them or sell them. Opt for permanent
fittings and fixtures only when it is absolutely necessary.
Do’s and Don’ts of Home Furnishing
41

Home Upgrade
Normally it is observed that average stay of a family in a home is 7-8 years. Even if you are in
the same city, people either upgrade to premium locations or bigger homes. These 2 are
most common reasons for upgrade. Now before committing a budget for home furnishing
do keep this thing in mind that in all probability whatever you are spending today is only for 7-
8 years. It will help to decide, how much you are willing to spend.
Home Furnishing by Builder
A new trend is emerging these days that builders are providing Home Furnishing. It is labeled
as FREE but the furnishing cost is already included in the cost of ﬂat. You may estimate the
cost of furnishing and try to negotiate with builder to reduce furnishing cost.
Budget
All said and done, here comes the main point - how much budget should be kept aside for
Home Furnishing? According to Square Yards GIC research report, it is advisable not to spend
more than 20% of the property value for new construction and 8% for Resale ﬂat on Home
Furnishing. The reason being, furnishing expected from a property is directly proportionate
to the value of the property. Most importantly, you need to provision this amount separately
as it will not be a part of property value for Home Loan.
Remember “A Rupee Saved is a Rupee Earned“
42

43
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Trivia: Slogans of Tourism
corporations of Indian States

44
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THE
VOLUME-05 August, 2015
Rule the Real Estate World
with Square Connect

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