Dr Niranjan Hiranandani Archives - Media Bulletins Today News Bulletin in English

Business, News

Shared spaces for working and living buck pandemic to emerge as new asset class: NAREDCO

Jul 28, 2021 by Rekha Nair 0 Comments #Dr Niranjan Hiranandani, #India & South East Asia Cushman & Wakefield, #Managing Director, #Mr. Anshul Jain, #NAREDCO, #National President of National Real Estate Development Council

New Delhi: The Covid pandemic has changed the way we live and work, towards a new normal lifestyle, which has created vast opportunities for shared spaces in terms of co-working and co-living as an emerging asset class for futuristic growth in the Real Estate sector.

During a webinar organised by NAREDCO along with its knowledge partner Cushman & Wakefield, titled ‘Co-Working and Co-Living, Reimagined for growth in the post pandemic world’ on Tuesday, the need for property owners, co-working and co-living service providers and tenants coming together along with the need to be agile and required government support with the recent Model Tenancy Act, was highlighted.

Addressing the webinar Dr. Niranjan Hiranandani, National President of National Real Estate Development Council (NAREDCO) noted Covid has disturbed the momentum in the co-working space as businesses are going through a phase of uncertainty and are trying to figure out how things would evolve and it would be the responsibility of the co-working companies to design customized space in sync with evolving needs of industry players inclusive of scale, modularity and sustainability.

Exuding confidence over the outlook for the sector, Dr. Hiranandani felt extremely bullish on this segment and indicated that if the IT industry takes a turn towards co-working spaces, then there would be major growth for this realty asset class. Dr. Hiranandani also mentioned that there will be rise in hub and spoke model in commercial real estate on back of dispersed portfolio towards suburban business districts in wake of decongestion and avoid long haul commute to promote employee wellness and productivity.

Mr. Anshul Jain, Managing Director, India & South East Asia Cushman & Wakefield felt that while the Co-working spaces are currently more attractive than ever before,Co-living, has been temporarily impacted by the pandemic largely due to work from home policies. He was optimistic that Co-working spaces are the need of the hour for corporate occupiers in these uncertain times as they offer smart business solutions to enterprises in the form of flexibility, CAPEX savings, and new-age design that seeks to promote the organizational culture and a collaborative work environment.

In regard to the Co-Living space he felt that co-living and other associated asset classes such as student housing and industrial living a boost, as travelling becomes safe, vaccinations gain momentum, and India’s large young and migrant population returns to work.

Among others who spoke at the webinar included Mr. Shriram Chitturi, CEO, Guesture; Mr. Pradeep Srinivas, Director- Private Equity, Investcorp; Dr. Nikhil Sikri, Co- Founder & CEO, Zolostays; Mr. Krishnaswamy Nagarajan, Chief Operating Officer, Table Space Technologies; Mr. Arvindh Prakash Ayyaswamy, Sr. Real Estate & Facilities Portfolio Manager, Microsoft; Mr. Rajesh Arora, Member Finance, NAREDCO; Mr. Saurabh Shatdal, Managing Director, Capital Markets, Cushman & Wakefield; & Mr. Rajesh Goel, Director General, NAREDCO.

The webinar deliberated on various issues on the Co-Working and Co-Living space. In regard to the investment in the sector, it was brought out that the investors in this space are quite bullish and do operate on a ‘vision business’ approach, wherein they value players that are credible and offer services that aid in expanding and scaling up their client’s businesses, with an aim to seek operators that provide functionality and security in a capital efficient and functional manner.

It was also highlighted that both co-living and co-working must operate from an agility perspective; one wherein growth cannot be forecast. The use of technology in improving user and operational experience such as affordable and reliable data connectivity as well as cloud services was also emphasized. It was felt that productivity in these spaces could be improved through enabling technology that is scalable, sustainable and repeatable.

Education, News

HSNC University launches MBA in Real Estate under the aegis of Niranjan Hiranandani School of Real Estate

May 21, 2021 by Rekha Nair 0 Comments #Dr Niranjan Hiranandani, #Provost – HSNC University, #real estate

India: HSNC University, Mumbai commences an MBA program for the enthusiast’s learner aspiring to build a career in the Real Estate industry under the fine guidance of Niranjan Hiranandani School of Real Estate (NHSRE). With introduction of this program, the sector will anticipate an usher of candidates that are formally trained with sound knowledge of the domain and technical know-how.

This two-year program will extensively make the learners accessible to a gamut of opportunities across disciplines like economics, law, management, marketing, finance and engineering, which are integral to real estate. The real estate school is already providing Certificate course in RERA Compliance and in Real Estate Entrepreneurship to undergraduate as well as postgraduate students, alumni including professionals and every individual who wishes to hone one’s knowledge and skills in the sector. The MBA program will envisage a better growth for learners by offering them with first-hand experience in industry.

Elated while announcing a management program for the thriving real estate sector, Dr. Niranjan Hiranandani, Provost – HSNC University stated, “Real Estate is one of the fastest growing sectors that contributes approximately 7% to the GDP of India and employs nearly 15% of national workforce. Thus, it is crucial for the cohort coming ahead to be well versed with the domain while attaining a mix of practical and theoretical education to reproduce industry ready talent pool. To me, it is a dream come true because, the program will emphasize on the skill-set that will equip the candidates to not only secure advanced positions as professionals but also allow entrepreneurs to startup and gain confidence of the industry stakeholders to invest in such early stage businesses.

Furthermore, our associations with the leading real estate companies, housing finance companies, private banks, architects, civil and structural engineering firms, top infrastructure companies, regulatory bodies, pan India will enable internships and apprenticeships during the program and placements on successful completion of the same. This will be a game changing opportunity to advance formal education in the vital sector of real estate fueling the economic growth”

The curriculum will set in motion virtually and further take-off with a hybrid approach. This synthesized strategy allows the working students to sustain their prior commitments and leverage the convenience of this modus operandi. Explaining the idea behind introducing such a syllabus, Dr. Hiranandani further adds, “NHSRE has structured the program of study with the help of a dedicated curriculum development team comprising of renowned industry pioneers like successful entrepreneurs, stalwarts, think tanks as well as HSNC alumni who can provide a student’s perspective to the journey. Moreover, the students will also be mentored by industry experts like Deepak Parekh from HDFC, Advocate Chetan Kapadia, Boman Irani from Rustomjee Group and so on. The real life experience of these mavens will guide learners with up-to-date industry practices and the difference being witnessed over the years.”

The advisory board at NHSRE is formed by the presence of Darshan Hiranandani Group CEO of Hiranandani Group, Gautam Chatterjee – Ex-Chairman MahaRERA, Hafeez Contractor – Architect, Mohit Malhotra from Godrej Properties, Tuhin Parekh from Brookefield, Rajiv Sabharwal from Tata Capital, Shishir Baijal from Knightfrank, Sanjay Chaturvedi – Director of Sanjay Chaturvedi & Associates, including the aforementioned.

Keeping in mind the upcoming trends associating with the sector, a K-A-I (Knowledge & Skills, Application and Industry integration) model has been adapted by the team to ensure the learners time and intelligence invested results are worthwhile. Whilst the industry longs for well-learned candidates, the enthusiasts who wish to hone their skills and be relevantly meeting the demand can register themselves at the earliest.

Business World

HSNC University joins hands with TCS iON for Industry Honour Certification

Apr 7, 2021 by Neel Achary 0 Comments #Dr Niranjan Hiranandani, #Provost – HSNC University

HSNC University collaborated with India’s biggest global IT player ‘TCS iON’ for an industry Honour Certification. The forged alliance is designed to train and skill the young talent pool to become ‘Industry Ready’. Every aspirant at HSNC University, Mumbai, be it an undergraduate, a postgraduate or even alumni, can avail the benefits. This significant and never- before industry mentoring opportunity will also enable learners with added benefits of internships and job assistance.

By joining hands with TCS iON, HSNC University will facilitate learners with certificate courses, programs, internships, and placement assistance. This 45-hour certification program will help students gain relevant industry knowledge, skills, and experience while establishing important connections in the field. This program will provide certification remotely to the learners in the field of Engineering/ Science, BFSI. Leveraging TCS iON’s digital platform, TCS iON and industry partners are acknowledged by Educational institutions and are made part of the curriculum. This also allows learners to get access to the best of industry mentors, on-ground projects, learning references, daily operational activities and project reports, digital rooms for discussion, etc. to grasp on-ground experience and build the industry network. Furthermore, the completion of this course will earn academic credit reflected in the individual’s transcript issued by HSNC University.

Delighted by the collaboration, Dr. Niranjan Hiranandani, Provost – HSNC University highlighted the benefits of this program by saying, “Being job-ready to accord with Industry 4.0 is the biggest challenge faced by the fresh workforce. So, as part of innovative thinking, HSNC University has taken a step forward to offer this value proposition to its brimming young talent pool by forging a long-term collaboration with TCS-iON. It is a great way to go beyond academics to help in skilling, up-skilling and re-skilling while augmenting aptitude and the intellectual quotient of the learners. This helps create better work opportunities, unique experience and strengthen the individual’s versatile personality.”

Adding further, Dr. Hiranandani said, “’The network you create is the net worth you build’ and with TCS iON, our objective is to leverage the reach of this experiential platform for learners to get technical, practical, social and employable skills across disciplines.”

TCS iON is working with a large number of corporates, for enabling this ecosystem.

Education

HSNC University unveils Niranjan Hiranandani School of Real Estate

Feb 24, 2021 by Neel Achary 0 Comments #Dr Niranjan Hiranandani, #HSNC University, #Provost – HSNC University

Mumbai: HSNC University brings to light, a first-of-its-kind School of Real Estate which is open for undergraduate students. The certificate courses launched are a door for career in real estate industry under the mastery of Niranjan Hiranandani School of Real Estate (NHSRE).

To begin with, NHSRE offers a Certificate Course in RERA Compliance and a Certificate Course in Real Estate Entrepreneurship for not just undergraduate students but also postgraduate alumni, professionals and every individual who wishes to hone one’s knowledge and skills in the sector. The experts will use a blended approach of online and offline teaching for the period of 2 months through 30 sessions during the weekends.

Exuberant while announcing the multi-disciplinary approach to learn the development and management of real estate sector, Dr. Niranjan Hiranandani, Provost – HSNC University stated, “Real Estate is the fastest growing business opportunity nationally, that offers scope of development for entrepreneurs, employees, and professionals while striving to preserve natural surroundings and setting benchmarks at the same time. By introducing the Niranjan Hiranandani School of Real Estate, HSNC University recognizes the immense potential of real estate and the lack of specialized educational curriculum and learning for students aspiring for a future in the multi-billion dollar fast-growing industry. And, this initiative is a step to fill that void and be the rising sun for the one who seeks a place of reckoning in this ever growing industry.”

The alumni of NHSRE will get opportunities pan India to augment their scope of learning in areas like planning, liaisoning, architecture, marketing and communications, critical thinking, crisis management, people management, environment rules, legalities, procedures, financial aspects and entire gamut of the real estate sector. Explaining the lessons a learner will take away, Dr. Hiranandani further adds, “Our industry relations will help the learner gain an in-depth practical knowledge of the segment they want to expand their footprint. From renowned stakeholders to leading industry bodies, the individuals will get an opportunity to develop and build their connections as they take the next step of the ladder.”

The courses of this dynamic, unconventional, socialist and welfare supporting sector of the coming decade, go live on 2nd March, 2021. Enrollment for the same has already started. The interested candidates can apply for their preferred course via: http://nhsre.in/

News

HSNC University’s K. C. College wins the title for Best Department of Microbiology in India

Dec 15, 2020 by Rekha Nair 0 Comments #Dr Niranjan Hiranandani, #Dr. Sejal Rathod, #HOD, #Microbiology, #Provost – HSNC University

New Delhi: One of Mumbai’s prestigious colleges, Kishinchand Chellaram (K. C.) College received National Award as one of the top three colleges for Microbiology in India. The award is conferred by Microbiologist’s Society, India which was established in the year 1996 and today has a presence in India as well as overseas. This community of 500 life members and 7000 students is supporting the incredible work of microbiology by giving awards to worthy institutes for the last three years to recognize their best offerings in the field of Microbiology.

KC College – a Hyderabad (Sind) National Collegiate Board’s educational institution for higher studies, now a constituent of HSNC cluster University has been contributing towards the field of microbiology since past 4 decades. Department of Microbiology was established in the year 1977 and offers BSc and MSc (By research and by papers).

Applauding the outcome of efforts, Dr. Niranjan Hiranandani, Provost – HSNC University said, “We are delighted to add this beautiful father to our cap. The microbiology department has shown its best. The entire department functions with an aim to provide a sound academic background for overall development of personality of students for a successful career in microbiology. With a strong focus on developing scientific and analytical thinking skills of the students, the department has always given importance to develop skills and competencies that have enduring value beyond the classroom so that continuous improvement and innovation in the field of microbiology is witnessed for the best of industry and mankind.”

The college has received Star status by DBT, Govt. of India and has been awarded with FIST programme by DST, Govt. of India, under which Microbiology department organises several co-curricular activities for the students. The department also has, in the past, associated with eminent organisations like BARC, IWSA, NIRRH, HiMedia, etc. to conduct several workshops and seminars.

Mentioning the achievements, Dr. Sejal Rathod, HOD of Microbiology explains their strategies to success stating, “To facilitate practical and hands-on learning, the students are provided with state-of-the-art research lab facilities. To take learning beyond the classroom, the department regularly organises interactive lectures, industry visits and group discussions. Research has been one of the strongest suits of the Microbiology department. Members of the faculty have, over the years, received research grants for many projects.”

The students in the department are placed at significant positions in the industry as well as research institutions. In the difficult times of the pandemic, several students of the department were working as Covid warriors in research labs throughout the year. It is an honour to have received this award by MSI in times where battling with the pandemic is the very first priority and with this badge the microbiology department at KC College is truly contributing at the best capacity.

News

350 tribal artisans to be handpicked under ASSOCHAM TEDP program

Dec 4, 2020 by Neel Achary 0 Comments #Arjun Munda, #ASSOCHAM, #Dr Niranjan Hiranandani, #Honourable Union Minister of Tribal Affairs, #President

New Delhi: With an aim to uplift the tribal community and instill the idea of entrepreneurship, the national industry body-The Associated Chambers of Commerce and Industry of India in association with the Ministry of Tribal Affairs has kick-started their ‘Tribal Entrepreneurship Development Programme (TEDP), with a target to identify at least 350 tribal artists and help them expand their enterprises before 31st December 2020.
The tribal community comprises nearly 8 percent of India’s population. The central government initiated the program to get the tribal communities in the mainstream, leverage their strength, and to help them contribute to the process of Nation building. This is in line with the Aatmanirbhar Bharat Abhiyan announced by the central government to initiate self-sustenance and would help in creating employment-generating opportunities for the tribal community.

Shri. Arjun Munda, Honourable Union Minister of Tribal Affairs, Government of India stated that there is a huge amount of ignorance about the tribal heritage and products. “Skill development and training is the need of the hour, so as to make them confident, self-reliant, financially independent and to develop and build resilience in them,” he said.

The minister explained that the program designed to develop entrepreneurial skills in tribal artisans by the ASSOCHAM is a kind of value proposition that they were looking at. “Hopefully, it will alter the path towards growth and inclusiveness for the tribal community in the country,” he said.

The program would identify artisans engaged into segments like Tribal Textiles, Paintings and Wall art, Superfoods, Traditional Medicinal Plants and Products, and Forest Produce. The artisans would be selected for the program from all across the country.

Each selected one amongst the tribes’ pan-India will be assessed and the training module will be designed on the basis of this assessment. The training will be aimed at improving the skillset based on the area of their expertise and developing new designs for their products as per market demand. Skills such as how to market their products on various platforms, how to maintain checks and balances, better accounting practices for managing finances would be taught and emphasized upon.

Dr. Niranjan Hiranandani, President, ASSOCHAM said that the program will ensure that no one remains without the opportunity to progress and grow. “To support India’s vision of becoming Aatmanirbhar, the ‘Tribal Entrepreneurship Development Programme’ would try and optimize the contribution of tribal community to the growing economy of our country,” he said. The training that will be given at the CoE will make sure that the potential of approximately 8 percent of our population must be fully developed and leveraged,” added Dr. Hiranandani.

Mr. Deepak Sood, Secretary-General, ASSOCHAM, said that there are several challenges and bottlenecks that inhibit the growth process of creating self-sustainable enterprises. “These artisans face challenges such as lack of financial linkage and market access. At the center, we are trying to explore avenues of propelling the process and creation of robust tribal brand identity and in the process – build and enhance the entrepreneurial capabilities of the tribal artisans,” he explained.

The program is a sustained multi-stakeholder, multi-institutional collaborative initiative by the apex industry body ASSOCHAM to address the needs and to work for the upliftment of the tribal communities in the country.

Business World

Quotes By Various Industry Heads on Finance Minister announcement

Nov 16, 2020 by Gouri Achary 0 Comments #Aashit Shah, #Dr Niranjan Hiranandani, #Mr. Bhushan Nemlekar -, #Mr. Ram Naik, #Ramesh Nair

Well thought Diwali gift for developers and buyers

The Finance Minister has announced no additional tax liability in the hands of both buyers and sellers where the differential in the actual transaction value of the property and circle rate is up to 20%. This will be effective immediately up to June 30th 2021 and applicable for residential sales in the primary segment for ticket size up to INR 2 crore. This comes as a significant benefit for both buyers and sellers as it will reduce and rationalise tax outgo to a great extent. Developers will now have the incentive in the form of this revised tax provision to pass on the benefit of lower market prices to buyers without incurring additional tax liability under the erstwhile provisions.

This announcement is timely given the following developments in the real estate sector:

Property values in a majority of India’s prime residential markets have largely remained stagnant in the past few years. Select developers in certain markets are providing price discounts to genuine homebuyers thereby leading to further rationalisation of prices. This is despite the fact that most of the developers are already operating on thin margins and have limited scope for a price reduction.
As of September end 2020, developers had a locked-in capital of nearly INR 3.7 trillion with unsold inventory to the tune of more than 450,000 units at various stages of construction across the top 7 cities.
This announcement will help in accelerating the pace of sales for developers, especially in the affordable and mid-priced segments. Ramesh Nair, CEO and Country Head, JLL India

“The FM’s announcement of an increase in the difference between the so-called circle rates and the agreement value will lead to a further rationalisation of prices in the sector, especially in the premium or mid-income housing segment. While the same is applicable only for units priced lesser than 2 crores it will help developers in the primary market get an upper hand vis-a-vis the secondary market. The move can be attributed to the concerns raised by developers about their inability to reduce or offer lucrative prices because of the tax liability that would accrue as a result of price reductions. But on the other hand, the major part of the unsold inventory in metro cities is upwards of Rs.2 crores in the Rs.4.75 to Rs.12 crore range. A blanket announcement without the capping would have lead to cheers for developers across the sector and the customers, this Diwali.” Mr. Ram Naik, Executive Director, The Guardians Real Estate Advisory

“The reforms announced by the Finance Minister will bring cheer to many businesses this Diwali. Extension of the emergency credit line guarantee scheme to various sectors impacted by Covid up to March 2021 will help SME businesses tide over this turbulent patch. An increased infusion of 6k crore in the NIIF debt platform for funding the infrastructure sector is a welcome move and will boost project financing.” Aashit Shah (Partner) at J Sagar Associates

“The Central Government has taken a step in the right direction. Looking at the current market condition, many developers with ready inventory will be able to sell as the prices have actually been corrected in large parts of urban areas in India. I hope we see an improvement in sales in the next year. This the income tax incentive will stimulate demand for buying homes. This is a welcome move and we are optimistic that the Government will introduce more proactive steps for giving additional relief to boost the real estate industry.” Mr. Bhushan Nemlekar Director, Sumit Woods Limited

“Differential above 10 per cent between circle rates and agreement value translates into tax penalties under Section 43CA of the Income Tax Act. This has been a major stumbling block for price rationalization,” said Dr. Niranjan Hiranandani, President, NAREDCO and Assocham. “This pinches, especially when it comes to liquidating unsold inventory. Industry bodies like NAREDCO have been pointing out the urgency with which this needs to be sorted out, and the Hon’ble Finance Minister, in a limited-period offer (up to 30 June 2021), has enhanced this differential from 10 to 20 per cent. This is welcome. The FM also mentioned a cap on the flat value to be eligible for this – Rs. 2 crore. This will result in most projects in Metro Cities not being able to take advantage of this, it has consistently been pointed out by industry bodies that price points in Metro Cities need to be kept in mind while offering any such relaxation,” he pointed out. He went on to add that the ideal situation would have been one where this relaxation would be applicable to commercial real estate transactions as well. “Real estate as an industry and end-users, both would benefit if these two suggestions can be incorporated,” he concluded.

“Funding issues have been a major challenge for real estate,” said Dr. Niranjan Hiranandani, President, NAREDCO and Assocham. “Finance Minister Nirmala Sitharaman’s announcement, about additional funding of Rs. 18,000 crore for PM Awaas Yojana-Urban will add to the sparkle this festive season. This is over and above the Rs 8,000 already allotted this year, and will translate into more homes for home seekers, more employment opportunities as also good business for suppliers and industries peripheral to real estate and construction,” he concluded.

Education

HSNC University starting a New Era in Education with skill-based UG Programs

Oct 27, 2020 by Gouri Achary 0 Comments #Dr Niranjan Hiranandani, #Dr. Hemlata Bagla, #HSNC University, #UG Programs

Admissions begin for three years UG programs at HSNC University – the newly formed cluster university comprising Mumbai’s finest colleges; H. R. College, K. C. College and Bombay Teachers’ Training College (BTTC). In the wake of the pandemic, the admission procedures start with online applications, students interested to apply can visit the website of HSNC University for procedures and other instructions.

As a university strategizing the approach towards an industry-ready workforce, colleges at HSNC align with the NEP 2020 and gives importance to skill-based learning by introducing new programs in the field of Sports and Entertainment Management, combined with necessary theoretical aspects. The University also rolled out a B.Voc program for Web Technologies as the relevance of tech in every aspect of communication increases.

Additionally, HSNC University announced University Schools of Yoga, Performing Arts and Applied Science. With an added interest in the forthcoming generation in off-beat courses, HSNC University implements the idea of exploring various streams a student seeks. Signing up for any of the UG courses, students will get hands-on practical learning from a blended faculty of industry experts and academicians, industry training opportunities, enhanced communication skills and much more.

Ecstatic to announce the new courses, Dr. Hemlata Bagla, principal of K. C. College said, “I’m excited to introduce these avant-garde courses for all our students who are looking to pursue a creative career. With HSNC University, the students certainly can learn extraordinary skills that help them in securing positions in respective industries.

Our groundbreaking methodology will aid students to imbibe the best theoretical and practical knowledge at the same time. I and everybody at HSNC are glad that the vision of meeting the need for fostering on-field human capital comes true in the first year of establishment. This platform is a great equalizer, this is a new start for us and as well as for the learners.”

The mission to start these courses by HSNC was to come up with new knowledge and skills for the students. Where they can select the career as per their convenience and interest. The practical aspect in main courses like yoga has been given more importance, in these courses both in terms of skill development involved, in association with its theories.

Being an enthusiast of education, Dr. Niranjan Hiranandani, Provost – HSNC University is of the opinion that exemplary knowledge be bestowed to the new generation in order to transform the living humanity for better, explaining which he states, “With an equivalent mission of nurturing students for an industry that awaits an enhanced workforce, HSNC University today announces new initiatives for students who don’t want to miss out on their creative and disruptive sides. These courses will not only make students career-ready but also will enhance their personality as per the needs of a particular field.”

While designing the syllabus, top industry experts, renowned statisticians, data scientists and reputed faculty of KC College have taken care to balance the essential techniques of performing arts with balancing knowledge and skills through elective and ability development courses. Dr. Hiranandani further adds, “We have made sure that learners get the best faculty and provisions to implement their learnings. Even a novice will be able to grasp the know-how at full competency.

The focus is to prepare students with clear, concise concepts to transform them into proficient experts adding value to the organization or sector they join. Present colleges of HSNC University have trained well-placed Alumni working at top positions in various organizations and hoping the same for our fresh batch of students I would like to wish them good luck for their new start.”

To add on, the university has tied up with 100+ companies to provide placements to certified students via their placement cell. The entire journey of learning will be accomplished in an interdisciplinary Choice Based Credit Score format opted by students.

Making the current cohort of freshers future-ready, HSNC University is providing the best career options and preparing students to fit in the business of their interest. With the new addition of courses, the University aims at endorsing India as a global hub of education by adapting the multidisciplinary aspects from countries around the globe. This marks the contemporary altitude of an effective education system.

News

Centre to consider taxation concessions for Maharashtra’s slum rehabilitation; Asks to send a proposal for Pradhan Mantri Awaas Yojana: Shri Hardeep Singh Puri, MoS, Ministry of Housing & Urban Affairs, Government of India

Oct 14, 2020 by Gouri Achary 0 Comments #Dr Jitendra Awhad, #Dr Niranjan Hiranandani, #NAREDCO (National) and ASSOCHAM, #Shri Ashok Mohanani, #Shri Hardeep Singh Puri, #Shri RajanBandelkar

The Centre has asked the Government of Maharashtra to submit a proposal seeking taxation concessions for Maharashtra’s slum rehabilitation programme and also a proposal for Pradhan Mantri Aawaas Yojana for affordable housing projects. Shri Hardeep Singh Puri, Minister of State, Housing and Urban Affairs asked Shri Jitendra Awhad, Cabinet Minister of Housing, State of Maharashtra to submit a note in this regard for further discussion in the sanctioning committee on urgent basis. Shri Puri was responding to a submission by Dr Jitendra Awhad, Cabinet Minister of Housing, Government of Maharashtra seeking extended support by the Central Government for Maharashtra Government’s ambitious slum redevelopment programme.

Both Shri Hardeep Singh Puri and Dr Jitendra Awhad were talking as the Chief Guest and the Guard of Honour; respectively, at the ‘Change of Guard’ event organised by National Real Estate Development Council (NAREDCO)’s West Zone to welcome a new President Shri Ashok Mohanani and felicitate the past President Shri RajanBandelkar.

Shri Ashok Mohanani, Chairman of a Mumbai – based real estate Group, Ekta World, today took over as a President of Western Zone of the National Real Estate Development Council (NAREDCO), an apex body of India’s real estate industry. In a virtually arranged ‘Change of Guard’ ceremony today, he took the charge from the past President of NAREDCO West and Convener, Housingforall.com and Chairman of Raunak Group, Shri RajanBandelkar. Shri Rajendra Pate has become the President of Pune Chapter of NAREDCO.

The ‘Change of Guard’ ceremony took place in the gracious virtual presence of luminaries such as Shri Hardeep Singh Puri, Minister of State, Housing and Urban Affairs, Government of India, as a Chief Guest and Dr Jitendra Awhad, Minister of Housing, Maharashtra State as the Guest of Honour. Dr Niranjan Hiranandani, National President of NAREDCO and Chairman and Managing Director of Hiranandani Communities graced the occasion along with other members.

While assuming the leadership role as a new President from his predecessor Shri RajanBandelkar who spearheaded the organisation in the testing times of the pandemic and before by introducing pro-growth initiatives like ease-of-doing-business, HousingForAll portal launch, zero stamp duty, etc., Shri Ashok Mohanani, an incumbent President promised the fellow members to continue with aggressive initiatives for the betterment of the members by working closely with the Government and regulatory authorities.

Shri Ashok Mohanani also set his vision clear; particularly for bringing a holistic development of the real estate sector across Maharashtra, and said that ‘’NAREDCO West would form a consortium of developers from Tier II and III cities of Maharashtra to make them avail funds from the banks and NBFCs for their projects. He forecast that the demand recovery will push housing sales; particularly in the affordable segment, mainly due to NAREDCO West’s initiatives, support by the Government and the RBI in interest rates and price rationalisation.Taking over this baton in the most challenging times of the pandemic, the task before me is to continue with various aggressive growth measures the Western Zone has taken under the erstwhile leadership of Shri RajanBandelkar.With the same zeal, my priority would be to rejuvenate the country’s major real estate market of Western India including Mumbai and push new ideas to match the attitudinal changes in the customers’ behaviour with that of the industry.’’

Shri RajanBandelkar, past President of NAREDCO West Zone and Convener, Housingforall.com welcomed Shri Mohanani in a new role. He said, “NAREDCO West, with over 2,000 members as on date, took rapid strides since inception in initiating reforms such as ease – of –doing business, HousingForALL portal, zero percent stamp duty, community development activities, etc. with the cooperation from the Government authorities and officials. Now, Shri Mohanani taking the leadership forward, his long – drawn experience in the real estate sector would help in taking up more new initiatives in this testing time that will impact the growth of the sector in this region.”

Welcoming Shri Mohanani in his new role and congratulating Shri Bandelkar for his exceptional inning as the past President, NAREDCO’s Chairman Shri Rajiv Talwar announced that the State of Maharashtra should consider a levy of zero stamp duty on the lines of NAREDCO West to help the homebuyers buy houses at affordable prices, support the real estate industry and increase the State revenue. He informed that NAREDCO West’s drive of Zero percent stamp duty pushed Maharashtra Government’s stamp duty collection to Rs 2,000 crore in October from Rs 800 crore in September where NAREDCO Pune’s initiative helped mop up Rs 1,000 crore as stamp duty.

Dr Niranjan Hiranandani, President, NAREDCO (National) and ASSOCHAM and Chairman & Managing Director of Hiranandani Communities, said,“We are grateful to the Ministry of Housing of the Government of India, State Housing Ministry and the RBI for their forthcoming initiatives to support the real estate sector.Shri Mohanani’s invaluable guidance will help show resilience to the challenges and bring innovative ideas for the sector’s growth in the Western region.”

Shri Hardeep Singh Puri, Minister of State, Housing and Urban Affairs, Government of India wished Shri Mohanani the best and expected his leadership to find remedial measures with the Government agencies for a common good of the industry.

Dr Jitendra Awhad, Minister of Housing, Maharashtra State congratulated Shri Mohanani for his new role and assured co-operation from the State Government to NAREDCO West in all the matters concerning to the interests of the industry and the homebuyers.

Shri Ashok Mohanani, with his over three decades of expertise, is a real estate stalwart and has imparted his acumen to the industry and the players from time to time.

Business World

Comment on RBI Policy by Dr. Niranjan Hiranandani, President (National) NAREDCO and Assocham, Mr. Dinanath Dubhashi, MD & CEO, L&T Financial Services & Mr. Kaushal Agarwal – Chairman, The Guardians Real Estate Advisory

Oct 10, 2020 by Gouri Achary 0 Comments #(National) NAREDCO, #ASSOCHAM, #Dr Niranjan Hiranandani, #L&T Financial Services, #MD & CEO, #Mr. Dinanath Dubhashi, #Mr. Kaushal Agarwal, #The Guardians Real Estate Advisory

RBI’s 9.5 percent contraction forecast was much anticipated: Dr Hiranandani President (National) NAREDCO and Assocham

The decision to rejig home loan rules will provide a boost to the real estate sector
The Reserve Bank of India’s Governor Shaktikanta Das announcement of keeping the repo rates unchanged while forecasting a 9.5 per cent contraction in FY21 was on expected lines stated ASSOCHAM president, Dr. Niranjan Hiranandani.

“It affirms our beliefs that the worst is over for the Indian economy. The RBI governor also confirmed that the contraction in economic growth witnessed in the April-June quarter with 23.9 per cent is behind us. He also accepts that growth is likely to pick up in the second half of the fiscal and enter into the positive zone in the January-March quarter,” He pointed out.

According to Dr. Hiranandani, the RBI’s decision to keep key rates unchanged was also much anticipated. “Further reduction in key interest rates was not a possibility at this juncture. The RBI’s decision to extend the scheme for co-lending to all NBFCs, HFC in respect of all eligible priority sector loans will allow greater operational flexibility to the lending institutions and is much welcomed,” he said.

Since February last year, the monetary policy committee has cut the repo rate by 250 basis points.

RBI’s decision to rationalise the risk weights on home loans and link them to Loan to value ratios only will give a boost to the real estate sector as well, he said. “Particularly this step would benefit borrowers of higher value loans. It would ensure that more credit is available to borrowers. This move is a much appreciated step recognising the role of the real estate sector in generating employment and economic activity,” he added.

Dr. Hiranandani explained that the industry welcomes the Reserve Bank of India’s announcement to undertake further measures as necessary to assure market participants of access to liquidity and easy finance conditions. “The RBI has through its proactive measures taken honest efforts to provide access to easier credit to smaller businesses. However, we believe further steps would be needed to revive the economy,” he said.

Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory

“The status quo was on expected lines. The steep reduction in the rates over the past several months are slowly beginning to show impact on the ground. The move by RBI to link risks to loan to value will help banks shred the cautious lending approach. The move is bound to offer a much-needed jump start to lending and liquidity cycle in the marketplace. The move is quite differentiated and going to be effective.”

Mr. Dinanath Dubhashi, MD & CEO, L&T Financial Services

‘The current announcements by RBI underline its seriousness in pushing for collaborative efforts of banks and NBFCs in reaching out to the unserved as well as the underserved sectors of the economy.

Along with operational efficiency, this move augurs well for the sector. Extension of the co-origination scheme will give greater operational flexibility to the lending institutions. The introduction of round the clock RTGS facility is encouraging and supportive of growth. Measures like on-tap TLTRO will help build further confidence in the sector and we will await the details on specific sectors applicable for TLTRO as well as the terms and conditions to be met for availing the benefits. Having said that, we are hopeful that a broad spectrum of sectors, including NBFCs, will be considered.’

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