HDFC ERGO Launches Title Insurance Cover For Property Developers.

HDFC ERGO, country’s third largest non-life insurance provider in the private sector, today announced the launch of ‘Title Insurance Policy’, a first of its kind product in the private insurance segment in India.

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This specialty insurance product provides Indemnity to property developers and the subsequent owners of the property against losses and risks related to defects in Property Title arising out of Third Party challenges not discovered prior to the commencement date of the policy due to the Title of Property belonging to someone other than the Insured, Descriptions & Plans in Historic deeds of the property being inadequate, Historic transaction being subject to an act of fraud or forgery by a third party that adversely affects insured’s rights over the title of the property, Title to the Property being subject to Unknown Burdens or Discharge of Burdens which may have been imposed in historic deeds executed prior to the commencement date etc.

Moreover, defence costs / Legal costs incurred are also covered under the policy. Also, certain known defects in the title may also be covered under the policy by specific underwriting assessment for an additional premium.

The product has been developed stemming from the requirement of the Real Estate Regulation and Development Act 2016 (RERA), which mandates the purchase of Title Insurance for all new and ongoing property developments registered with the regulatory body.

Commenting on the launch of the new product, Mr. Anuj Tyagi, Executive Director & Chief Distribution Officer, HDFC ERGO General Insurance Company, “We are always looking at opportunities to offer protection to the customers from any unforeseen financial losses. Title insurance is one such innovative product that will provide customers’ the peace of mind from Title risks related to the land on which the property rests. It is crucial and a must-have, for developers not only because it is mandatory but is as an effective risk transfer mechanism.”

This new Title insurance policy will prove beneficial to real estate developers, property investors and housing finance companies. The policy can be obtained by developers and is subsequently assigned to the association of allottees or allotees /members of the housing societies, who are the ultimate beneficiaries of the policy.

For more information on the policy and the full range of HDFC ERGO Insurance products please contact HDFC ERGO representative. In addition, for further details on risk factors, exclusions, terms, and conditions please read the sales brochure before concluding a sale.

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JK Cement all set to host the 27th edition of Architect of the Year Awards

JK Cement, India’s premier cement company will give away the 27th Architect of the Year Awards (AYA) -2018 on July 28, in Ahmedabad. The prestigious award is JK Cement’s annual flagship event and is aimed at rewarding and encouraging outstanding talent in the field of architecture across the globe. The revolving category this year is Religious Architecture, which is aimed at acknowledging the sacred designs constructed over the years.

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The Architect of the Year, the Architect Student of the year, the Young Architect Award, Foreign Countries Architect Award and Green Architecture award are some of the prestigious categories at AYA. The jury for the award includes renowned names from the Indian architect fraternity (refer list).

Mr. B.V. Doshi, the most iconic Indian architect, and Pritzker architecture prize laureate winner will grace the award ceremony as the Chief Guest.

The ceremony will be followed by a panel discussion between Ar. B.V. Doshi and other senior architects, who will share their perspectives on ‘Future of Architecture — Architectural Ethics and Prospects’.

Speaking on the success of the AYA, Mr. Yadupati Singhania, Chairman & Managing Director, JK Cement Ltd. said, “It has been a tremendous journey so far, and we are proud to say that AYA has created a legacy of encouraging architectural excellence. AYA, that was initiated over 25 years ago, has attained phenomenal success and earned great respect amongst the architect fraternity. I extend my heartiest congratulations to all the nominees and wish them all the best.”

The prestigious AYA Awards is attended by the most celebrated names in the world of architecture and is one of the most anticipated events of the year for leading architects. This year, the jury received over 212 entries from India as well as its neighboring nations, including Bangladesh, Bhutan, Kenya, Maldives, Mauritius and several others.

Mr. M.P. Rawal — Administrator (AYA) & Advisor, JK Cement Ltd. said, “We are truly overwhelmed to see the sheer number of entries and the quality of nominations. We have participants from all age groups, both the established and the young aspirants from various parts of the country as well as neighboring nations. We feel proud for having created a platform for recognizing the outstanding work done by the architect community.”

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Central Park Resorts honoured with two awards in ‘Ultra Luxury Category’

Central Park, a leading real estate developer in the Delhi/NCR region, recently won the prestigious Asia Real Estate Summit 2018 and BAM Awards 2018 under ‘Ultra Luxury Category’.

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The Asia Real Estate Summit 2018 was held in New Delhi where Mr. Anish Nanda, Head of Sales, and Mr. Manish Beri, from Central Park received the award from famous actress and model, Mugdha Godse. The Asia Real Estate Excellence Awards recognize the exemplary efforts of organizations, entrepreneurs, professionals from Real Estate, Infrastructure and Construction sector. The category winners were decided basis a comprehensive market research study and opinion surveys conducted over a period of six months.

Central Park also received a prestigious BAM Award, 2018, for Central Park Resorts. BAM Awards is a platform to recognize the exceptional work done by organizations through their innovative ideas, products, campaigns, and talent. The winners for each category were selected basis the company credentials, past accolades, and recognition in the respective fields.

Commenting on the win, Mr. Amarjit Bakshi, Managing Director, Central Park said, “The felicitation of two prestigious awards in the luxury segment is yet another validation of Central Park’s vision of creating world-class living spaces that meet the aspirations of modern day customers. Such industry recognitions reinforce our belief of always putting the customers first and exceeding their expectations at every step of the journey.”

With three residential premium properties — Central Park on Golf Course Road, Central Park Resorts at Sohna Road and Flower Valley at Sector 32–33, South of Gurugram, Sohna, Central Park is one of the leading real estate developers in the luxury residential segment in Delhi/ NCR. An industry first concept living, Central Park Resorts at Sohna Road, Gurugram offers a unique proposition of resort lifestyle where customers do not have to step out for anything. 20 acres of gorgeous, expansive undulating greens dotted by water bodies and fountains, stunning International tunnel driveway, zero vehicles on ground surface, a rich landscape of amenities for leisure and recreation for both the young and the young at heart, 24 hours cafes’ and exotic gazebos serving gourmet delights makes it the most sought-after luxury address in Gurugram.

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Why to invest in ILD ARETE Gurgaon?

Overlooking the scenic Aravalli Hills, the Luxury Park Residences are designed with the concept of living around 3 acre of central greens.

Just 10 minutes away from the Golf Course Extension Road, ILD ARETE Gurgaon is the perfect destination to invest for the home buyers who are looking for a luxurious lifestyle amidst the mother-nature. The project is situated just near the 75 M wide Sohna Road which has been declared as a National Highway and enjoys great connectivity with rest of Gurgaon and Delhi NCR. In its proximity there are world class educational institutions like as GD Goenka World University & K.R. Mangalam University. The project’s location also ensures that the residents are located at a shorter drive away from markets, established malls, and the Metro.

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Why to invest in Gurgaon

The foremost important factor that needs to be considered when purchasing a property is its location and nearby infrastructure. Quite often people make decisions based on the appeal of the home, instead of the location, and that can be a huge mistake for the future.

Talking precisely about Gurgaon then it is the industrial and financial center of the Indian north-western state of Haryana. The investment climate in the region of Gurgaon goes back to at least a decade’s time. Over the years Gurgaon has successfully attracted large scale investments from globally reputed companies. The infrastructure of the city was laid out with immense care.

The city has always been an abode to large and spacious residences that offer amenities and world class infrastructure that are at par with the best in the world. However, due to property price appreciation, buyers seeking to purchase flats in main Gurgaon now have to move to a similar dream destination, the New Gurgaon.

With decent infrastructure, fast connectivity, and new world-class projects, Gurgaon’s realty market has always been reasonably positive.

If someone is looking to invest in Gurgaon then he/she must consider new developing sectors along NH-8, Dwarka-Gurgaon Expressway, Golf Course Extension Road, and main Gurgaon-Sohna Road.

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Luxury Hotels Asset Management – Keeping The Rolls Royce Rolling

New-age technology and data-driven concepts have significantly influenced asset management in the hotel sector today

Luxury hotel guests expect an international experience wherever they go and country-specific limitations are not accepted

Rising disposable incomes at the hands of the middle class, an increasing number of multi-millionaires and the growing quest to travel have given a major boost to the tourism and hospitality sector in India. Over the last decade, this sector has accounted for nearly 7.5% of the country’s GDP. It is estimated that the Indian hospitality sector is likely to witness high double-digit annual growth by 2022.

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The sector is a major direct and indirect employment generator attracts massive FDI inflows and is the most important net foreign exchange earner for the country. Considering its potential, the Government must necessarily incentivize investment into the hospitality sector by lowering the taxes on its development and giving it industry status. Since it relies on a host of other sectors such as transportation, entertainment, aviation etc., strengthening these industries will lead to further growth and development of the hospitality sector.

Simultaneously, the phenomenal growth of the hospitality sector has led to increased expectations from the services being offered by hotels and resorts, both at a project and unit level. Given the high net-worth clientele it attracts, this is even truer in the luxury hotels segment.

The constant pressure of serving discerning clients with deservedly high expectations has compelled the luxury hotels sector to innovate and re-invent itself constantly to maintain global luxury hospitality standards. The necessity of integrating professional facility management services (FMS) among their other core areas of operations is obviously a no-brainer.

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Asset Management: Luxury Hotels vs the Rest

Broadly speaking, hotels can be categorized into two types: commercial hotels which accommodate business travelers and resorts which host guests traveling for leisure. Customer experience cannot be compromised in either category, even though the requirements are different. However, the price factor plays a crucial role which eventually segregates luxury hotels from normal ones.

While expense may not be a major issue for HNI guests, the fact is that even such clients are spoiled for choice of 5-star hotels in most major Indian cities today. Like budget hotel patrons, luxury hotel customers, therefore, look for true value for money – but unlike budget hotel guests, they expect a completely uncompromised luxury stay experience.

And therein lies the challenge, because while budget hotels can be run and maintained like robust Jeeps, luxury hotels can be compared to Rolls Royces – intricate machines defined by impeccably maintained interiors and exteriors, with highly specialized and therefore fragile engines under the hood. The whole machine needs to be kept running flawlessly in every aspect.

This has given rise to the demand for specialized third-party facilities and asset management companies that assist hotels – especially luxury hotels – to manage their properties in an expected manner. The concept of luxury hotel facilities and asset management is far more established in the developed countries than in India – nevertheless, luxury hotel guests expect an international experience wherever they go and country-specific limitations are not accepted.

The increasing competition among luxury hotel operators is another factor forcing these establishments to look for a high level of expertise from the hotel asset management companies they engage.

Ideally, operating a hotel should be a smart balance between creating a great guest experience and yet keeping the expenses at bay. While luxury hotels have realized and accepted the importance of proper asset management facilities, smaller ones continue to struggle with this aspect and cut corners wherever possible.

Indian luxury hotels, on the other hand, are now completely sold on the fact that to be successful, profitability must be built around guests having superlative experiences in well-designed and maintained hospitality environments where the customer is royalty.

Luxury – No Margin for Error

Realistically, this philosophy should apply across the spectrum, from budget to super luxury, with the only difference being customer expectations that are relative to price levels. However, unlike in budget hotels where guests can shrug off certain limitations, inconveniences and even breakdowns keeping in mind the money they’re saving, the margin for error in luxury hotels is literally zero.

A major differentiating factor between luxury and mid-range or budget hotels is that operators in the latter categories often adopt a cost-cutting mindset mission and do not really invest much effort to understand the need for a holistic approach to the product and service experience from a guest-centric perspective.

In contrast, the clientele of luxury hotels is invariably well-traveled globally and expects facilities which convey a global standard. Facilities management companies which come with a global label understand this requirement, so luxury hotel operators turn to these for providing their services.

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Krypton Global Investments launches operations for Overseas property buying

~Unique dedicated Indian digital platform designed to showcase international properties, migration programs, and investment opportunities~

~The self-funded start-up with the tagline – ‘IT’S A SMALL WORLD’ is a brainchild of renowned International Property Marketer – Mona Jalota~

Krypton Global Investments (KGI) is a first of its kind platform designed to showcase International Properties, Migration Programs and Investment Opportunities for Indian patrons. Headquartered in Mumbai, the company is engaged in providing all its stakeholders with end-to-end services and advice from tax & legal professionals ensuring a seamless international transaction. The self-funded start-up begins operating in India from July 2018.

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KGI is a brainchild of renowned International Property Marketer, Mona Jalota who has been making waves in this sector for more than a decade and has worked with Colliers International, Coldwell Banker India, Knight Frank India and Dandara-UK.

The company aims to use international real estate news, market analysis, and property buying guide to help the customers with smarter investment decisions outside India.

Talking on the launch of KGI, Mona Jalota, Managing Director and Founder, Krypton Global Investments says, “With the launch of KGI, we are looking at assisting Indian customers who are keen on investments in global markets. The vision is to provide an uncluttered breakthrough platform to international developers who are keen on marketing and selling their properties in India. As we begin our operations, we have bagged clients such as Lendlease, Greenland Holdings, Beech Holdings, Property Alliance Group and CERT Property to name a few across the UK, US, and Southeast Asian markets.”

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“The objective of the company is to ensure Indian customers get personalized approach and assistance for their queries on properties, migration programs and other business investment opportunities in overseas markets”, Mona further added.

KGI provides property information, pictures, and assistance on tax and legal queries. Additionally, the platform enables independent international builders and the largest real estate groups to grow their businesses through our wide reach. Our key enabler is the team of professionals, our network, and knowledge.

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