Wednesday, November 22, 2017

Realty Biz

The Government should deliver on real estate expectations

 

Brigade Group was established in 1986, with property development as its main focus. Today, the Group is one of South India's leading property developers. Headquartered in Bengaluru, with branch offices in several cities in South India, a representative office in Dubai and an accredited agent in the USA, Brigade has a uniquely diverse multi-domain portfolio that covers property development, property management services, hospitality and education. Its projects extend across several major cities in South India: Chennai, Chikmagalur, Hyderabad, Kochi, Mangalore and Mysore. M R JAISHANKAR, CHAIRMAN & MANAGING DIRECTOR, BRIGADE GROUP responded to CONSTRUCTION OPPORTUNITIES’ queries.

 

Give us an understanding of your group’s focus on integrated townships?

The integrated enclave/township is a concept in urban planning that is becoming increasingly popular all over the world. In essence, a township forms a self-contained urban neighbourhood – by combining residential, social, business and commercial zones within a single enclave. Together, the different zones form a cohesive, convenient and connected urban space offering a range of modern services and facilities that are easily accessible. Brigade Group pioneered the concept of integrated enclaves/townships in Bengaluru. With the city growing in all directions, the need of the hour is a semblance of the old township that facilitated a relaxed ambience and a gentle lifestyle. Integrated enclaves are, in many ways, a fallback to those leisurely times. Except that it just gets better when executed by one of the leading real estate developers in town.  After all, some of the exceptional ones have been built by us starting with the Brigade Millennium and Brigade Gardenia in J P Nagar. The concept has evolved and only gotten better with Brigade Metropolis in Whitefield and Brigade Gateway in Malleswaram-Rajajinagar.

 

Can you offer us more details about the enclaves you just mentioned?

Our integrated enclaves in Bengaluru are Brigade Millennium and Brigade Gardenia in JP Nagar, Brigade Metropolis in Whitefield and Brigade Gateway in Malleswaram. All of those have become landmarks of the city.  Brigade Gateway, spread across 40 acres, is the most integrated enclave in an urban city centre, anywhere in the world. It has luxury residences, World Trade Center with world class office spaces; Sheraton Bangalore, a 5 star hotel, Orion, a lifestyle mall, Galaxy Club, Columbia Asia Hospital and the Brigade School.

We are presently developing two large townships in Bengaluru: Brigade Meadows, a 60 acre integrated enclave and Brigade Orchards, a 130 acre township.

Brigade Meadows is a mini city spread over 60 plus acres on Kanakapura road, adjacent to the Art of Living and just a few minutes from the NICE Corridor. It has around 2,800 units planned. The project consists of low-rise blocks (G+3 and Stilt+4) with common terraces that go well with the planned leisurely ambience with every apartment having optimum cross ventilation and lighting. The project contains both 2 and 3 bedroom value homes and luxury apartments that come along with conveniences like a kindergarten, hospital, shopping centre, recreational facilities, large open green spaces and planned central courtyard spaces between blocks. Landscaping will be one of the highlights of the project – it has 70 per cent open space. The well-equiped clubhouse will house a gymnasium, swimming pool and sporting facilities. Brigade Meadows offers the latest amenities that would feature in any of Brigade’s premium properties. Brigade Meadows is located close to several reputed schools, IT parks and hospitals in South Bengaluru. Kanakapura Road is seeing a lot of development without losing much of its tranquility. The NICE Road (6 km), proposed Metro Station (11 km), Banashankari Temple (13 km), Mysore Road (17 km), Bannerghatta Road (15 km) and Electronic City (22 km) are all very accessible, giving the residents the much desired connectivity with least commute time. The project is attracting the attention of the market for its credibility and the values it brings to the table by ticking the boxes of quality, concept, location and value. A testimony to this is the encouraging response that the project has received and the continued demand for such a value project.

Our latest 130 acre township at Devenahalli, Brigade Orchards, is designed to global best practices by NBBJ, USA and offers luxury villas, luxury apartments, value plus apartments, retirement homes and assisted living facilities for senior citizens.

The Villa areas range from 4,900-4,950 sq.ft and the price starts at Rs.3.3 crore. The value plus home areas vary between 1,000-1,200 sq ft and the price starts at Rs.34 lakh. The township features a world-class sports academy which will be managed by Sporting Edge, a Steve Waugh company; a Signature Club, offices spaces, shopping centre, restaurants, school, an Arts Village and a hospital. Brigade Group has associated with Age Ventures India (AVI) an associate of Help Age India to manage the retirement homes. Our group has also launched Bengaluru’s first precast plant at Brigade Orchards and this has helped us offer superior quality construction at reduced time and manpower.

 

Affordable housing is a major requirement in the urban zone. Tell us about your company’s contribution there in terms of project implementation?

Brigade Group launched affordable housing called Value Homes in 2011. The Value Homes gave a section of society the opportunity to own a Brigade home with the assurance of quality at affordable prices. We have sold nearly 2,500 affordable homes in Bengaluru and Mysore across three projects— Brigade Meadows, Brigade Orchards in Bengaluru and Brigade Sparkle in Mysore. The projects are shaping up well and we are certain the customers will enjoy a better quality of life in these projects.

The first phase of Value Homes is nearing completion; while the luxury apartments, Wisteria, was launched recently.  The cost of the value home starts at Rs.35 lakh while the luxury apartments start at Rs.45 lakh.  An integrated enclave by Brigade Group will bring in facilities worthy of any developed city in the world. Be it the infrastructure, the facilities, quality or the ambience, the detailing is impeccable. The costing, therefore, makes it a home with great value and with a high return on investment potential.

 

Very briefly, tell us about your expectations from the new government?

This has definitely been an election that has had the nation riveted for a while. India has now got what was much needed – a stable, pro-development and a decisive government. The government should deliver on the expectations of the real estate segment. This includes transparent and clear policies for smooth land acquisition, reduction in approval procedures at each stage of a project, industry status for the real estate sector, which is long overdue, an environment conducive for growth and investments, and speeding up of the process of reforms.

 

BRIGADE AS PIONEER

Brigade has a series of 'firsts' to its credit. The company can lay claim to pioneering initiatives that include:

  • Introducing the enclave concept in Bengaluru.
  • Associations and partnerships with international design, hotel, resort and healthcare chains: Brigade has partnered with Hellmuth, Obata + Kassabaum (H.O.K.), New York—whom international industry surveys rank as one of the world's leading architectural firms—in the design of the Brigade Gateway integrated enclave. The company has also entered into agreements with world-class organisations like Starwood, InterContinental and Accor for the operation and management of their hospitality projects, under the brands Sheraton, Holiday Inn and Mercure.
  • Path-breaking approach to design: Brigade has conducted national and international design competitions to tap the best design talents. The design of The Woodrose club and MLR Convention Centre are the result of design competitions.
  • Upgrading professional standards and practices: Among South Indian property developers, Brigade Group was the first to implement the SAP package and one of the forerunners in implementing an ERP system.

 

UNDER THE GROUP UMBRELLA

Brigade Enterprises Limited (BEL)

BEL, Brigade Group's flagship company, is a successful PLC that has completed over 100 residential, commercial, retail and hospitality projects, covering over 18,58,045 sq m of developable area. Many more projects are in different stages of conceptualisation and creation, in different cities in South India. These include luxury apartments, integrated enclaves, state-of-the-art software and retail facilities, techparks, SEZs, serviced residences, resorts, clubs, 5-star hotels and schools.

 

Brigade Hospitality Services Limited (BHSL)

BHSL, a subsidiary of Brigade Enterprises Limited, was formed in 2004. Its ventures in the hospitality business include a chain of serviced residences, clubs, hotels, resorts and spas and convention centres.

 

WTC Trades & Projects Private Limited

A wholly-owned subsidiary of Brigade, it holds the license “World Trade Center” for the city of Bengaluru—awarded by the World Trade Centers Association (WTCA), USA.

 

Orion Mall Management Company Limited

A wholly-owned subsidiary of Brigade, it has been established to manage the operations of Orion Mall and develop the retail business domain of Brigade Group.

 

Brigade Tetrarch Private Limited (BTPL)

Also a wholly-owned subsidiary of Brigade, its main business is in the field of sports-related activities.

 

Brigade Estates and Projects Private Limited & Brigade Properties Private Limited

Both are wholly-owned subsidiaries of Brigade, with their main business being in the field of real estate development.

 

Brigade Infrastructure & Power Private Limited

A wholly-owned subsidiary, whose focus is in the field of infrastructure and power.

 




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