Wednesday, October 31, 2007

Paranjape Schemes' Blue Ridge Township: Residential infrastructure for IT professionals working in Hinjewadi, Pune (1)

Why Special Economic Zone (SEZ) promoted by a real estate developer is destined to fail?

"A developer of SEZ with the mindset of a real estate developer is destined to fail!" says Mr Yogesh Ashar, who has recently co-authored with Mr Kanu Doshi ‘Treatise on Special Economic Zones’. Mr Ashar and Mr Doshi, both chartered accountants, are associated with Welingkar Institute of Management, Mumbai as faculty. Couple of months ago, i blogged their interview on my "Pune Real Estate Market News Blog". Here are excerpts from my blog.

Golden opportunity to exploit huge profits:

Because 75 per cent of land acquired under SEZ will be used for construction of houses, airport, trading and business houses and hospitals, SEZ looks like a golden opportunity for a real estate developer to exploit huge profits.

SEZ Developer:

Many developers of SEZs are afflicted with real estate syndrome. But SEZ under the present regime shall have to be a business venture in infrastructure development (as against real estate venture) with its own dynamics, if it is to succeed."

Blue Ridge: Integrated realty project:

Since the beginning, Paranjape Schemes made it a point to call 'Blue Ridge' as an 'integrated realty development' with 4 different parts: 1.IT/ITeS SEZ, 2.Residential apartments and villas, 3.A retail mall 4.A star hotel.

Assumption: Blue Ridge is SEZ:

According to Mr Ashar and Mr Doshi "SEZ promoted by a real estate developer is destined to fail" because the non-processing area by default is meant to serve the legitimate needs of the processing area of the SEZ.

Obviously, as per the 'broad' concept of SEZ, 'residential development of the Blue Ridge' is for the people working in the 'Blue Ridge SEZ', majority of the Pune Real Estate Market assumed. "SEZ will generate employment for 30,000 knowledge workers." was Shashank Paranjape's statement which supports this assumption.

Paranjape Schemes is going to construct flats for the people working in their SEZ was not at a threat or even a competition to the on going projects in Aundh Annex - Wakad, Pimple Saudagar, Rahatani, Balewadi, Baner and Pashan.


The Featured Shot, originally uploaded by Neville_S.

Integration with Hinjewadi!

But Paranjape Schemes integrated 3 parts of 'Blue Ridge', 1. Residential - 2. Retail Mall - 3. Five Star Hotel - with existing Hinjewadi Rajiv Gandhi IT Park. This was a big shock to all on going projects in these areas.

On the other hand, we all know, how people working in Hinjewadi welcomed Blue Ridge. But most of the builders don't accept this as a fact. Booking 1,500 flats on the second day of a launch and a waiting list of 400+ on the same evening is beyond any body's wild imagination.

Successful Positioning:

Blue Ridge is in Hinjewadi. But that is only a geographical fact. As a residential project not exactly a plus point. Conventionally not at all a desirable location. In fact, projects which are very close to Hinjewadi are selling slow, even today at ready possession stage.

Because Parihar Chowk, Aundh is the center of the residential area. Distance from Parihar Chowk matters more than the distance from the Hinjewadi. Projects which had reasonably good size, like Fivegardens (17 acres), Park Street (50 acres) and the concept of self sufficiency could not get away from the Parihar Chowk. When Comfort Zone in Balewadi claims to be in the 'West Aundh' but not in the 'East Hinjewadi' tells us as a residential area how unattractive Hinjewadi is.

Paranjape Schemes also had the same opinion and few weeks before the launch, were accepting bookings at the rate of Rs.2,800 only. Booking rate which was at par with good projects in Aundh annex and less than Baner Road.

In short, all credit goes to the successful positioning. In the next part, we will talk about how Paranjape Schemes sold this concept. Please, share your views and opinion in the comments.

Wednesday, October 24, 2007

Anupam Mittal's 'People Group' launches online real estate portal "Makaan.com", a market place for home seekers, real estate agents, and builders

The group that gave us Shaadi.com, Fropper.com, and Astrolife.com is now venturing into real estate -- online. "Makaan.com" tries to make the entire online process of finding buyers- and sellers- of property easier, faster, not-to-mention more secure.




On "Makaan.com", buyers can get a wider range of real estate options, while sellers can improve their reach like never before.

The visually clutter-free site believes in 'keeping it simple'. Yet, it boasts advanced search functionalities that help users seek a more efficient and effective house hunting experience.

As of now, the portal is focusing on top 13 cities including: Delhi, Mumbai, Kolkata, Bangalore, Chennai, Hyderabad, Ahmedabad, Pune, Chandigarh, Jaipur, Indore, Kochi, and Ludhiana.

In beta for nearly two months, the site is already getting close to 3 lac unique property seekers per month, with nearly 46 percent of registered users being real estate agents.

Tuesday, October 16, 2007

Do you think these film stars, cricketers, TV actors and musicians boosted the growth of these real estate developers?

"By signing an ideal (brand) ambassador, any brand can gain fast recognition among the target audience since the popularity factor of the celebrity comes as a support. In addition, it offers the brand a personality to form a quick connection with the customer. Also, it adds to brand acceptability in a big way. " said R. Shivanandan in his article, "Celebs Endorsing Real Estate Projects" on Indian Realty News.

Celebrity Brand Ambassador :

According to Shivanandan, here is the list of brand ambassadors and the real estate developers. Frankly, out of this list, i remember very few and if you want to add any, please let me know in the comments.
1. Shahrukh Khan and DLF
2. Ustad Amjad Ali Khan and his sons Amaan and Ayaan were brand ambassadors for Omaxe
3. Rahul Dravid for Skyline Housing and Construction Ltd.
4. Kapil Dev = Chadha Group
5. Preeti Jhingiani endorsed LVL City
6. Amitabh Bachchan and Aishwarya Rai endorsed Amby Valley City.

Star Power :

Do you think theses brand ambassadors were the "Ideal" brand ambassadors for the particular real estate developer?
Did they offer any "Personality" to the real estate brand?
Do you think they helped the customers to "Connect" with the real estate developer?
How much they added to the "Acceptability" of the developer?
Please, tell me what do you think in the comments.

Tuesday, October 09, 2007

Sternon Real Estate names Bollywood star Mandira Bedi as brand ambassador for ‘Magic Hills’



I am happy to open with Mandira Bedi! Sorry, for the P.J. But when you say Mandira Bedi don't you remember her 'extra innings'? Yes, everybody who enjoys watching cricket on TV will always associate her with cricket.

Cricket :

We Indians are crazy about cricket. Cricket has become more than a sport for us. Cricket has become a fevicol not only for Indians in India but even among NRIs. Since, Sternon is into International Real Estate Marketing, they know it very well. And by the way, what were the other options to cricket?

Bollywood :

Obviously Bollywood! That's why Sternon says "Bollywood Star Mandira Bedi" Now, i do not remember a single film of her's and that's why i do not feel she is a Bollywood Star. But definitely she is a Star and calling her "Bollywood Star", for sure, doubles her attraction!

Household Name :

Let us see why Sternon went for Mandira. According to the press release Anthony D'Silva, of Communicate Gulf, sent me from Dubai, Mr. Hussaini F. Nalwalla, Managing Director of Sternon Group says, "“Just like Mandira Bedi, Magic Hills is individualistic, arresting and bold. Magic Hills has created quite an excitement among the NRI community worldwide and we are positive Mandira’s endorsement will give a seal of excellence and originality. Mandira Bedi is a household name today among Indians worldwide and Sternon is proud to appoint her our brand ambassador.”

Investment :

“I am proud to be associated with Sternon and Magic Hills Residences, as the new project in Navi Mumbai promises to set new standards in high living, keeping in mind the expectations of NRIs,” said Mandira. “India is certainly becoming an attractive place to live and work, and Sternon’s Magic Hills represents a golden opportunity for NRIs to invest in.”

Goodwill :

But tell me, when we are talking about NRIs, if we keep aside cricket and Bollywood and focus on an Individual who comes to your mind? Shilpa Shetty! Right? She is not only popular, i have heard, NRIs respect Shilpa Shetty for taking a stand against discrimination. Recently, after her arrest for that five month old kiss on the cheek, somebody told me, Shilpa Shetty is treated as a goddess. Goddess who fights against the devils of racism and fascist! Who can create more goodwill about you than god?

Brand Ambassador :

No, i am not asking why Mandira or why not Shilpa! I only want to know what are Sternon's expectations from the brand ambassador? I became more curious when i learnt that the first phase of Magic Hills is already booked. (Yes, if you want to know more about Magic Hills, please visit my 'Pune Real Estate Market News Blog'.) Forget all this and just tell me when you look at the above photograph, do you feel Mandira adds any value to it? Makes it more glamorous? or more desirable? Frankly, i do not think so! Till we get more information about Mandira let us take a look at other brand ambassadors in the next posts.

Sunday, October 07, 2007

Now, you can also read my Pune Real Estate Advertising and Marketing Blog on your mobile! [FM8579-29]

You are already reading my 'Ravi Karandeekar's Pune Real Estate Blog' and 'Ravi Karandeekar's Pune Real Estate Market News Blog' on your mobile, right? Now you can also read 'Ravi Karandeekar's Pune Real Estate Advertising and Marketing Blog'. Isn't it great news?

Since, you already know how to get url of the moblie version by sms or enter it directly in the browser of your mobile, i will not repeat it. And of course, anytime you can read my "Thanks to FeedM8! Now, you can read my Pune Real Estate blogs on your mobile!" post. So be in touch with Pune Real Estate even when you are on the go!