WTC Noida Opening New Horizons in the Commercial Space

With the changing time, the urban policy makers are considering innovative ways to use technology to manage commercial space amid changing expectations of the expanding urban population. Companies like World Trade Center are creating a wave in the current domain. With an innovative mix of skills, tactics, and strategies WTC Noida complex has been attracting various new age businesses and its Venture Accelerator Center has already incubated 30+ companies and counting.

Headquartered in New York, USA, World Trade Center Noida is changing the face of the commercial space through its innovative design solutions. 

Memorandum of cooperation (MoC) signed between World Trade Center (WTC) Noida and the China Association of Small and Medium Enterprises (CASME)

The exceptional facilities and services of World Trade Centers attract some of the biggest names from business. WTC Noida, the regions' premier trade and investment facilitation organisation, has signed a memorandum of cooperation (MoC) with the China Association of Small and Medium Enterprises (CASME). The MoC aims towards creating various trade and investment opportunities for Chinese enterprises willing to explore the Indian market.

WTCs facilitate international trade and thus contribute to development of regional business communities, creating thousands of job opportunities and enabling millions of dollars of business for the regional community. Viridian RED is developing WTC Noida's third phase. The first two phases are already completed and delivered.

Executive president of CASME Group, Jun Shao envisaged for a boost in trade and economic relations through this MoC. He said, "This collaboration will further strengthen India China cooperation and investment from Chinese enterprises will boost the manufacturing sector. It will also prove to be a huge to stimulate cross border trade and investment relation between the two fastest developing nations of the world."

The trade and investment opportunities will only grow in India – CEO WTCA

India is a good investment option for those willing to hold properties for long-term. With investor friendly trade policies, the commercial segment is seeing a huge improvement. Talking about global brands like WTC, they are creating innovative commercial spaces for the buyers with all the required conveniences. 

The World Trade Centers Association (WTCA) CEO Scott Ferguson said, ‘’Trade and investment opportunities will only grow in India with recent changes in government policies’’. 

"Real estate globally is seen as a key driver of economic growth and needs to be seen as (something) beyond an asset class," a statement quoted Ferguson as saying.

Further addressing to the community Ferguson said"I congratulate WTC Noida on becoming the first operational facility in North India, delivering its first two towers which are completely leased and hope to see great results for the next phase as well. Viridian group is our main partner in India".

Noida to become India's Mobile Open Exchange Cluster

World Trade Centers Association (WTCA), the governing body of WTCs with 300 centres in 90 countries, is looking to expand operations in India to promote trade and investment. The association provides platform to business entities who are looking to connect globally and prosper locally. Recently, it signed a Memorandum of Cooperation with CASME, China's association of small and medium enterprises who are looking to establish their business in India. 

WTCA has given licenses for the development of 21 World Trade Centers in India. At present five World Trade Centers are operational at Mumbai, Bengaluru, Pune, Noida and Kochi. Out of all these, Noida is the biggest in terms of the total developable area.

Viridian Group is developing the Noida facility on 44 acres, comprising 4.2 million sq ft of mixed-use development, with an investment of Rs 1,000 crore and the company has licence to 12 other such centres across India. The first phase comprising 7 lakh sq ft is already operational. Viridian Group is owned and managed by Mr. Ashish Bhalla. 

With Vivo Mobile taking up the entire 7 lakh sq ft on lease, Viridian group is targeting to develop this centre as mobile open exchange cluster (MOX). MOX will help in cutting operational costs and higher profitability for mobile firms on the back of efficient supply chain systems that will evolve due to the proximity of the vendors and suppliers in the cluster, she said, while inviting mobile companies to set up their units in the Noida centre.

NBCC to develop WTC in South Delhi's Nauroji Nagar

National Buildings Construction Corporation (NBCC), which is developing 12 commercial towers spread across 3.2 million sq ft of area in Nauroji Nagar, has received the license to use WTC name for one of its towers. This way, it becomes the second WTC tower in Delhi NCR. The first WTC is being developed at Noida by Viridian RED, the real estate arm of Viridian Group owned by Ashish Bhalla.

The construction of world trade centre is the part of the redevelopment plan of Nauroji Nagar area. Altogether, the Government has decided to redevelop seven colonies in New Delhi. All these are Government employees’ colonies located in Sarojini Nagar, Netaji Nagar, Nauroji Nagar, Tyagraj Nagar, Srinivaspuri, Kasturba Nagar and Mohammadpur.

The World Trade Centres Association (WTCA) has given licences for the development of 21 World Trade Centres in the country. Viridian RED, being the prime partners, shall be developing 13 out of the total of 21 WTCs. Viridian RED is the real estate division of Viridian Group, operated by Ashish Bhalla.

At present five WTCs are operational at Mumbai, Bengaluru, Pune, Noida and Kochi. The WTCA stimulates trade and investment opportunities for commercial property developers, economic development agencies, and businesses looking to connect globally and prosper locally. There are over 300 world trade centres spread in 90 countries.

GST : What the buyers should do!

With the new Constitutional Amendments and subsequent supporting legislation cleared by the cabinet, renewed hope of GST implementation is in the market. Although the constitution amendment fixed 15^th September 2017 as the deadline, but recent consensual announcement by the GST Council of getting the law into force by 1st July 2017 comes as a welcome news.With the new taxation mechanism coming into force subsequently, the real estate consumers should be well aware about the nature, procedure and things-to-do post implementation as the GST law would have a multifarious effect on the real estate market altogether.

Presently the under-construction real estate is subjected to VAT, Service tax and stamp duty. Post GST implementation they will be covered under Central GST (CGST) and State GST (SGST) respectively with stamp duty remaining unaffected as it is con-sensually left out of the purview of the new taxation legislation. Now let us look at the prospective effect of the GST on net taxation on real estate units and thus its prices which is of more importance to consumers.

At present, if a consumer books a property when it is not completed, she pays service tax to the centre and VAT to the state. Whereas the developer pays numerous taxes and duties such as octoi, excise duty, customs duty, Central Sales tax etc. On the constituent building materials, transportation and equipment therein. Roughly estimated, this aggregately costs anywhere between 24-26% on the net value of property varying minutely between states. But with the newly introduced tax regime, if consensus is built on the 18% tax rate as proposed, it will evidently lead to cheaper property prices and thereby boosting consumer driven growth. Well that seems a good news for consumers, hence waiting till mid-2017 could surely save you certain bucks on your purchases,

Moreover, from the developer's perspective, GST regime would most certainly bring in an era where smooth and cheaper flow of credit is realized thereby ensuring more building companies and construction units starting up and getting into the segment of real estate. For a consumer/buyer, its a good news because it will usher in a much desired healthy competition which apart from reducing the cost per unit for the consumer, will also ensure better building infrastructure and facilities with multifarious perks and browny discounts associated within due to this competition amongst developers. Moreover the regime of goods and services tax also promised the much required transparency in the sector, which when clubbed with the new RERA act, will usher in an era of more accountable and clean real estate transactions which is surely in the interest of the end-consumers. Even the talk wherein GST regime is expected to bring in easy compliance of tax liability would end up helping the consumer, developer and market as a whole thereby making the sector an easy catch for the consumers and a realistic investment opportunity that they look up to.

Hence evaluating the chances of post-GST regime, it seems that most certainly it will end up reducing the burgeoning cost per unit of a particular real estate, bring in more accountability and transparency, provide more easy tax compliance and generate easy line of credit opportunity for both devlopers and consumers, thus creating a paradigm of a win-win situation. And since, the roll out is expected anytime soon, there is definitely no harm in waiting for it execute and thus produce its productive results on the real estate sector which will ultimately end up benefiting the buyer therein. Hence this waiting seems pretty worthy for everyone!

                                                                                    

Open office: A lucrative investment option

After their bashing successes in western countries, the concept of open-offices is slowly developing keen-ness in Indian psyche off-lately. Metro cities ranging from Bangalore, Delhi, Mumbai, Pune etc. Are flooded with requests with an essential waiting list which goes to months for getting a space in such open offices. This evidently shows the demand and at the same time its scarce availability, thus deeming the concept of "open offices" as hot investment target for future is no overstatement.

Defining the concept of open office, which are sometimes called "shared work spaces" or "plug-n-play offices", they are essentially work spaces which is pre-infused with all the essentials of a work space including the construction and digital infrastructure required and provides a definite ground space for working and not worrying about other tiresome phenomenon associated with maintaining an office space. There are umpteen number of advantages that appeals the working class to apply and acquire such spaces thus bypassing the old-school concept of office spaces.

Firstly, with growing number of freelancers and start-ups in India, it is economically not viable for such low capital companies to rent or leasehold properties in the white-collar hubs of the country due to their burgeoning prices, procedural fatigue and long drawn processes associated while acquiring new property. Hence, such open spaces provide these freelancers and new businesses with a lucrative opportunity of working from an already maintained space which is fully furnished with all the essentials of an office without necessarily worrying about the ownership and maintenance of the working unit. They can just come, plug-in and work without worrying about the non-essential stuff that tends to impede their working efficiency. Moreover, a Govt. Report on Start-up India states that Indian start-up market is set to quadruple itself by 2025, and thus these start-ups would essentially need office spaces to work which is already in scarce, and hence this surely makes the concept of "open offices" a very lucrative calling card for investors to invest in for the coming decade.

Secondly, professionals such as architects, lawyers, charted accountants etc. Are finding it difficult to find working spaces which would facilitate meeting their clientage to discuss the issues pertaining therein. Such scarcity is on the account of increasing number of professionals functioning in the market, inadequacy of funds provided by the Govt. (for eg: low funds to build chambers for lawyers) and lack of availability of space as such professionals often prefer certain hotspots wherein client base is more. These days such professionals are finding it convenient to meet their clients at a restaurant or a coffee shop due to obvious reasons. Thus providing them such open working spaces would be profitable and a lucrative deal, and a win-win for everyone, which is surely the most successful business model globally. Thus investing in such portfolio would ensure you definite returns which would be on the rise for the coming decade for sure.

Finally, the ease of access that these work spaces provides to everyone wherein the companies and professionals need not worry about non-essential fatiguing work such as maintaining the work space, maintaining a kitchen space, a projector room, lightening arrangements, janitor staff, fibrenet facility, furniture etc. That generally end on reducing the efficacy output of the company and such professionals. Thus such open-office spaces are the way to go for investors looking forward to invest in certain real estate portfolios in the coming years, as such would be a very high returning and a constantly-rising portfolio for the times to come when India is set to embark upon the development of its economic growth through new businesses and professionals across the country. Way to go investors!