New Delhi [India], December 31 (ANI/Mediawire): The Times Real Estate Conclave & Awards 2021 had a flurry of good news for developers and other constituents of the industry.
The chief guest of the event Dr Jitendra Satish Awhad, housing minister of Maharashtra, announced that the state government is likely to have an amnesty scheme wherein concessions along with a guarantee that there will be no Section 13(2) for five years will be extended to the defaulting developer companies. Section 13(2) is the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
One of the conditions that the developers will have to follow will be the rehabilitation of the residents of the existing colonies before the redevelopment procedure starts. "MHADA will lease open plots to the developers and they can go and get money on that. There will always be a tripartite agreement signed by MHADA. No builder will own an inch of land in MHADA. Builders can only redevelop the property but not own the property," Awhad said.
Times Real Estate Conclave & Awards 2021 was held with all the usual pomp and glory at The Taj Palace, Colaba on December 20, 2021, and was attended by the best-known names in the real estate industry. The state minister's announcement was whole-heartedly welcomed by the audience.
The annual event which the real estate industry eagerly awaits every year conferred 36 felicitations to the best performers in all categories of real estate development from townships to commercial space, retail malls to luxury brands, lifetime achievers to thematic projects.
Maharashtra government is waiting for the President's assent to a state government's amendment of the law, explained Dr Awhad, which will allow the Maharashtra Housing and Area Development Authority (MHADA) to redevelop or repair dilapidated and cessed buildings.
The amendment of the law can revolutionize the real estate business in Mumbai. "It is not enough to just give government policy concessions and tax benefits to the industry. The state government is trying to build confidence so that all the stakeholders, viz: the consumer, the developers, and the state government benefit from the growth in the sector."
The two panel discussions during the conclave were on the "government support through circle rate cuts and stamp duty reductions" and "commercial and residential real estate demand bouncing back." In the first discussion the panelists were Boman Rustom Irani, President-Elect, CREDAI (Confederation of Real Estate Developers Association of India) and Chairman and Managing Director, Rustomjee; Rajan Bandelkar, President, NAREDCO and Founder and Managing Director, Raunak Group and Manish Bathija, Owner of Paradise Group. In the second discussion, the panelists were Manan Shah, Managing Director, MICL Group Khilen Shah, SVP - Corporate, Hubtown Limited and Paarth K Mehta, Managing Director, Paradigm Realty India.
The winners of this year's Times Real Estate Icons are:
> Iconic Outstanding Contribution to the Real Estate Industry: Rajan Bandelkar of Raunak Group
> Iconic Real Estate Brand of the Year: Birla Estates
>Iconic Super Luxury Project: Rustomjee Elements Juhu by Rustomjee Group
> Iconic Realty Personality of the Year: Boman Irani of Rustomjee Group
> Iconic Committed Developer of the Year: Paradise Group
> Iconic Township Project: Sarova by SD Corporation
> Iconic Residential Developer - Central MMR: Raunak Group
> Iconic Young Achiever of the Year: Manan Shah of MICL Group
> Iconic Commercial Project for New Work Environment: "At" by AGM Vijaylaxmi Venture
> Iconic Township Project: Wadhwa Wise City by The Wadhwa Group
> Iconic Luxury Segment Project - Central Suburbs: Purva Clermont by Purvankara
>Iconic Luxury Segment Homes - Western Suburbs: Raajvilas by The Laxmi Group
> Iconic Emerging Developer of the Year: Paradigm Realty
> Iconic Residential Project of the Year: Birla Niyaara by Birla Estates
> Iconic Luxurious Real Estate Brand of the Year: Lodha Luxury
>Iconic Residential Project Launch Campaign: Birla Estates for Birla Niyaara
> Iconic Developer for Redevelopment Projects: Je & Vee Infrastructure
> Iconic Residential Project of the Year - South Mumbai: Dosti Eastern Bay by Dosti Realty
> Iconic Residential Project - Thane: Rutu City by Rutu Group
> Iconic Super Luxury Project - South Mumbai: 25 South by Hubtown
> Iconic Innovative Market Brand in Real Estate: Justo
> Iconic Women Achiever: Priyaa Gurnani by Moraj Infratech
> Iconic Super Luxury Project - Thane: Viraj Tower by Raunak Group
> Iconic Innovative Commercial Project: Goodwill Bizhub by Goodwill Developers
> Iconic Township Project - Central Suburbs: Rutu Riverview Classic by Rutu Group
> Iconic Thematic Project: Provident Palm Vista by Provident Housing
> Iconic Real Estate Launch Campaign of the Year: Rustomjee Bella by Rustomjee Group
> Iconic Residential Project Thane: Northern Lights by Shapoorji Pallonji Real Estate
> Iconic Strategic Partner Affordable Housing: Stallions
> Iconic Residential Developer - Kalyan MMR: Saket Group
> Iconic Excellence in Location: Swaminarayan City by Swaminarayan Group
> Iconic Budget Homes: MMR Shreeji Nisarg by Shreeji Developers
> Iconic Affordable Weekend Homes: Majestic Meadows
> Iconic Developer of Balance Lifestyle Township: Siddharth Group
>Excellence in Customer-Centric Developer - Central Suburbs: Rajshree Builders
> Iconic Real Estate Consultant: Jignesh Hirani
Times Real Estate Conclave and Award 2021
The objective of this research was to arrive at Times real estate conclave and Award 2021in their respective categories. The survey had these modules i.e. Desk Secondary Research, Approach for sharing fact file, Factual survey (Participatory Survey) to arrive at the analysis & identify final results of top performers in different categories.
A secondary/ desk research was conducted to make an exhaustive list of real estate players in Mumbai. The various sources used for the generation of real estate entities list included: Directories of Credai Mumbai, BAI, REDAI, NAR, etc.
More than 400 real estate players were sent the factual data questionnaire and then rigorously followed up through telephone, email and personal visits.
The study was conducted in Mumbai for 4 weeks, starting from the 2nd week of November 2021. The final score for each entity was weighted to an average of Factual Score. Based on the final score, results were drawn in respective categories.
Best efforts were made to reach maximum every real estate player in the respective categories. Any entity which expressly stated that it did not wish to participate in the survey was excluded from the survey.
* If the nomination for any specific category was not received, those categories were dropped and categories with single nominations were given unanimously.
* Only those business entities were considered who have submitted their participatory factual sheet
Note: Present survey has been conducted by an independent Research Agency named Avance Insights Pvt. Ltd using a stated methodology for arriving at given results
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