Offices that make a statement!

To most middle class working people, offices mean rows upon rows of standard, drab, grey cubicles, fluorescent lights and post-it notes hanging from the message boards. Long corridors, water coolers and conference rooms complete the montage that for aeons, has defined a place from where business is conducted.

The tech boom of the late 1990s though changed that perception to an extent, when a company, now synonymous with internet search (obviously Google), first unveiled its campus to the world. Suddenly an office was more than just a place to go to from Mondays to Fridays. Suddenly offices became imaginariums, gymnasiums, places where fun at work wasn’t just an ideal but a reality. What is more, Google pioneered the concept of “happy workers equal greater productivity!” Little surprise then that Google’s employees are amongst the most productive in the world!

More and more corporates today understand the value of happy employees. No wonder then that more and more companies, startups and ventures are investing in designing workspaces that make their employees happy, ergo productive. This post sheds light on some of the world’s most quirky, happy and uplifting office spaces from around the world.

Most of the world’s most statement making offices come from the technology, advertising and creative domain, there is a reason to that too, people who work in these fields are a quirky, idiosyncratic breed that are really into pop culture and often work long hours that may stretch into weeks.

Bahnhof’s Pionen Facility: Sweden

Bahnhof of Sweden, an internet service provider needed a secure facility, given the nature of their business. What is more secure than a Cold War era nuclear bunker built 30 metres underground, into the side of a mountain? We would say not much else! What makes it even more awe inspiring is that it was one of the inspirations behind the set for the villain’s lair in the Bond film ‘Moonraker’. Meeting rooms and conference zones also look like the observation deck aboard a star trek cruiser!

Edelman and Partners Office: Soho, New York

Edelman and Partners, one of the world’s leading public relations firms have on their roster of clients the who’s who of the tech, corporate, industrial and entertainment sectors. Their office in New York’s quirky Soho area, is an interesting mix of practicality, entertainment and technology. Starting with the reception area where a large Microsoft Surface tablet dominates the visitors area, to individual conference rooms that have wall to wall touchscreens, to individual workspaces where employees are encouraged to express themselves through graffiti and other quirky touches, makes this one office that stands out completely.

Tech Mahindra’s MindSpace Mumbai facility:

Tech Mahindra, erstwhile 3 Global Services, may have taken over 3’s business, but continue to persevere with the former’s philosophy of a vibrant, dynamic office space. Situated in Mumbai’s outsourcing district of MindSpace, each of Tech Mahindra’s offices are designed to make an employee feel at home. Large murals on all walls depicting sport, pop culture and happiness are the first things one sees. A multi-cuisine cafeteria and relaxation zones complete one of the cheeriest office spaces in the maximum city.

Googleplex, Mountain View, California:

The company that pioneered the office space revolution, has to round off the list of the most awe inspiring offices. Spread over a mammoth 2 million square feet of space in California, Googleplex is the search giant’s world headquarters. From quirky inspiration pods to juice bars, gymnasiums to conference rooms with jungle themes, Googleplex can best be described as ‘Neverland-meets-Disney World-meets-the- Imaginarium of Dr. Parnassus’. Dubbed the happiest place to work several years in a row, Googleplex has become the benchmark for quirky, yet functional workspaces that keep employees happy, ergo productive!

Sources:

http://mashable.com/2010/09/20/inspiring-offices-pics/

http://en.wikipedia.org/wiki/Googleplex

Bandra Kurla and the changing face of the business district.

Mumbai, India’s financial capital and one of the largest urban agglomerations in the world has always been an Asian business powerhouse. With some of the world’s largest companies, banks, television networks and other important businesses calling Mumbai, either their headquarters or an important regional office, it is only natural that office space in this metropolis comes at a premium.

Traditionally, South Mumbai has always been Mumbai’s commercial/business district. The areas of Nariman Point, Marine Lines, Tardeo, Worli, Prabhadevi and Lower Parel, have all been hubs for the smooth flow of commerce. The problem now though is one of dwindling space and soaring commercial realty prices. To address this problem the Mumbai Metropolitan Regional Development Authority (MMRDA), in the early part of the 21st century, proposed in its charter, “ a series of "growth centres" created to ‘arrest further concentration’ of offices and commercial activities in South Mumbai.” (Source: Wikipedia) Bandra-Kurla complex was a first among these growth centres.

Why Bandra-Kurla Complex?

Any business relies on top-notch infrastructure, hassle-free connectivity and easy access. The central nature of Bandra-Kurla Complex, ease of access, location and availability of premium office space for rates that are not astronomical, has made this area a popular destination for business development. Says a marketing manager, of a multinational beverages company, that moved here a couple of years ago, “Bandra-Kurla Complex made a lot of sense for us. Its ready availability world class office spaces, proximity to the international and domestic airports, easily accessible to both our employees and business associates from the Western and Central suburbs, and most importantly the dramatic savings on leasing a similar property in South Mumbai, are the primary reasons of our decision to call it home.”

Ease of access has also made lives for employees that much simpler. Scores of people who would have to spend hours commuting all the way to South Mumbai, now find themselves travelling half the distance, and with the improvement inaccess roads to BKC, many of them now travel to office by vehicle. As a result, the load on public transport infrastructure too, has reduced a bit. Says Eleanor Rodrigues, an employee of a private sector bank, “my office used to be in Prabhadevi and travelling from Santacruz was quite troublesome. But ever since we’ve shifted to BKC, getting from home to office is a simple 20 minute car journey. On the upside, I also get to spend the morning commute with my husband, as he works in the vicinity too.”

Developments in Bandra-Kurla Complex:

Bandra-Kurla Complex today is a hotbed of activity like few other places in the city. With a number of residential and commercial projects underway, the area is undergoing a sea change as we speak. Corporate headquarters and IT parks today stand side-by-side, where once slums and desolate roads used to be.

“The landscape of the area has changed dramatically,” says Manish Madambat, a long time resident of Kalanagar, Bandra East, a stone’s throw away from BKC, “there used to be a time when getting a rickshaw from Bandra station was nigh impossible, the streets were bad and fraught with potholes, but today, with the emergence of BKC, those days are a thing of the past.”

The best part about the development of BKC has been the phased manner in which it has been conducted. BKC is probably one of Mumbai’s only well planned areas, modern town planning ensures that streets leading into and out of the area are smoother, wider and congestion free.

The emergence of BKC as a business hub has also seen a proliferation of hospitality brands setting up shop here to cater to the corporate set. Over the last few years many top hotels have opened their doors to the droves of corporate clients that have now made them their destination of choice to entertain, host foreign dignitaries and conferences and get-togethers.

With projects and developments in various phases of completion and planning, BKC’s future and that of Mumbai’s new business district seems too bright and in a sentence, BKC is the new commercial heart of India’s financial powerhouse!   

Sunteck Realty bags, 5 Prestigious Awards at the Asia Pacific Real Estate Association (APREA)

Wed, Nov 27, 2013, Sunteck Realty Ltd, Mumbai’s leading premium real estate developer
catering to the luxury & ultra luxury segment, was commemorated with 5 Prestigious Awards at
the recent Asia Pacific Real Estate Association (APREA). The APREA Best Practices
Awards are open to all real estate companies & trusts listed on a regional stock exchange.

Sunteck Realty Ltd has made a strong foray into the real estate sector with a string of
landmark developments and a fine balance between luxury and sustainability. Amongst the
Highly Commended awards Sunteck Realty Limited has been awarded in the categories of
Emerging Markets, Merit Awards and Country Awards. These include accolades for The
best property development company, Merit award in market disclosures & property
valuation category and an overall award along with Axis REIT of Malaysia.

Sunteck Realty has always been instrumental in introducing world renowned architecture and
designs to the Indian market. The nomination for these elite awards was based on identifying
and honoring projects that created marvels in the industry. The winners of the Awards were
evaluated based on transparency, corporate governance, portfolio performance and
comparability in their local market and the region.

Lim Swe Guan, CFA, Chairman of the board of APREA said, "We are delighted with the level
of best practices demonstrated by the companies who submitted for the awards this year. We
continually encourage members to adopt the most up-to-date valuation techniques, adhere to
international financial reporting standards and follow good corporate governance. Combined
with a greater transparency of portfolio performance and provision of reliable timely information
to investors, we believe this will lead to higher investor confidence and wider support for the
industry. We are confident that with the support of our members, who are leaders in their field,
we can make real estate a crucial part of every investor’s portfolio.”

Peter Mitchell, Chief Executive Officer of APREA said “We would like to extend our
congratulations to The GPT Group and Axis REIT for winning the overall award for best
practices. These awards are held annually to highlight the importance of the recommendations
in APREA’s Best Practices Handbook, which has emerged as a clear benchmark for the region
for managing and reporting performances since it was first published in 2009.”

Mr. Kamal Khetan, CMD, Sunteck Realty Ltd commented, “At Sunteck Realty, it is a
constant endeavor to create benchmark projects based on the consumer’s needs and
requirements. The APREA Awards are the most prestigious awards and we feel honored
to be recipients of it. We are proud of our continued success as this will further
strengthen our commitment to our stakeholders.

About Sunteck Realty


Sunteck Realty Limited is amongst the top 10 ‘Listed’ real estate development company
singularly catering to the luxury and ultra luxury segment. The company has over 28 million
square feet of city centric developments across 25 projects under various stages of
development and 4 rented assets. The company is managed by a professional management
team led by first generation entrepreneur Mr. Kamal Khetan . The financial strength of the
company is well reflected with the ‘Negligible Debt’ and visible cash flows. The company is
listed on the BSE and NSE and has on board some of the world renowned pension funds, FII’s
and Private Equity. The company has also forged tie ups with international brands as Walt
Disney and Vertu to lend a unique experience to its denizens. The company has strong project
execution skills through in-house project management team and tie-ups with Domestic and
International contractors, Architects and Engineers. The company takes pride in serving the
affluent gentry of the Ultra High Net Worth individuals and the head honchos of top global
conglomerates.

About the awards

The APREA Best Practice Awards recognizes listed real estate organizations in the Asia-
Pacific region who contribute to enhancing transparency and comparability in regional markets
through a commitment to regional industry best practices across their organization, embrace
stakeholder communication activities beyond those required in local market and comply with
the recommendations contained in APREA Best Practices Handbook.

The annual APREA Best Practices Awards recognizes the regional real estate firms who
perform the best in governance and disclosure. The awards are based on the APREA Best
Practices Handbook and regulation in the firm’s local jurisdiction. All real estate companies and
trusts listed on a regional exchange, including Australia and New Zealand, are eligible to
qualify for the awards. All eligible entities, whether or not they are members of APREA, are
entitled to participate. Real estate organizations will need to make a submission in order to be
considered.

Kamal Khetan Reveals Other Costs Linked With Buying a Home

Home purchasing can turn into a stressful as well as an exciting task, both at the same time. Usually buyers, especially the first timers, seem to forget the fact that the overall costs linked with the buying of a new home are much higher than the actual purchase price of the property. In order to make you aware of all these costs beforehand, the real estate advisors from the Kamal Khetan group has compiled below some of the other major costs that are usually associated with the purchase of a new home.

1    1.     Agent’s Commission

Both the real estate agents on the buyer’s as well as the seller’s side receive some percentage of the final sales price as commission. As a general rule of thumb, a typical commission expense can lie anywhere between three to six percent of the total selling price. However, these rates and percentages are always negotiable. The commission expense takes in to account both the seller’s realtor as well as the buyer’s realtor. This particular cost is generally supposed to be paid by the seller only. Therefore, you must always pick advisors from credible and reputed companies like the Kamal Khetan Group.

2    2.     Closing Costs

The closing costs usually cover all the liabilities such as the legal fees, utility adjustment costs and the property taxes. In addition to this, certain provinces also demand land transfer taxes.

3    3.     Legal Fees

This covers all the costs that you are supposed to pay to your associated lawyer, with respect to all sorts of legal transactions that may have been brought into action during the purchase of the house. Some of these prime legal transactions include the signing and preparing of the mortgage, conduction of property title search, review of the terms of the made offer, registration of the new title, determination of appropriate adjustment costs, obtaining relevant documentation and other conveyance charges.

4    4.     Mortgage Life Insurance

Many insurance companies provide special coverage for the cost at which your mortgage will be discharged under an event of severe illness or death. These days many lenders have started to provide for the mortgage insurance. However, the amount for the same is not fixed and directly depends on the condition and state of your mortgage.

5    5.     Service Charges

This section covers all the installation and other fee charges for hooking up basic utilities such as cable services, electricity, telephone and gas.  

Experts at Kamal Khetan Suggest Smarter Ways for Real Estate Purchasing

From homeowners to property investors, everyone is today horrified by the ongoing real estate traps which trick the buyers into buying unworthy properties at prices much higher than usual market value. Here are some of valuable and easy tips that would help you in making a smart real estate purchase. Some of these suggestions have been provided by expert advisors to the notable Kamal Khetan group.

1       Finalize a budget and stick to it

When it comes to dealings involving huge amounts of money such as the buying or selling of houses, you cannot afford to go ahead with your investment without deciding on a budget. Remember, real estate deals are never supposed to be spontaneous. You should always take in to account a number of considerations before sealing any such deal. The most important of these considerable parameters is the budget. Always decide on the amount of money you are planning to invest in the property on a prior basis. Once this has been done, you must stick to the decided budget at the time of the investment. Make a plan. You must never forget that apart from the monthly mortgage payments, you will also be carrying out the other monthly lifestyle costs. Therefore, you should try and set your budget keeping in view all such considerations. Many real estate firms such as the one led by Kamal Khetan help their clients in providing an unbiased suggestion on the complete investment plan.

2      Think Long-Term

Whenever you decide to invest in a particular real estate property, you must always first try to find out the purpose as well as the value of the property in a period of ten to fifteen years from now. Do not forget that investing in something as huge as a piece of real estate is a once in a lifetime task. Therefore, you must pick a property that provides you with as much value in fifteen years from now as it has today.

      Opt for a Support System

The home-buying procedure can be accelerated as well as made valuable if you have a professional real estate advisor by your side. An expert will not only be well versed with the latest market trends and ongoing property deals, but will also understand your personal as well as financial situation. In this manner, an advisor or expert will aid in providing you with the best possible property deal; thereby preventing you from any form of real estate traps.

Kamal Khetan; Concierge Services – A Value Added Service on the Rise in Luxury Residential Projects

In today's day and age, the lives of the super wealthy are filled with the world of luxurious goods that everyone from the best designer fashion brands to the leading real estate developers cater to. Luxury living and plush lifestyles are increasingly becoming a norm among a growing super set of consumers who are far more desirous of the best of the best, than ever before. The eyes of many mega real estate companies have opened up to the fact that luxury living has to be taken up a notch or ten, to satisfy patrons and attract enough customers in a competitive market in the first place.

Luxury as far as residential complexes and apartment buildings have meant different things over the years. From the emergence of landscaped gardens, super design and architecture, fabulous interior design and outdoor facades, swimming pools, health clubs and more on site to extra flourishes like on site restaurants and cafes and multipurpose rooms, luxurious living has evolved over the years into an exceptionally comfortable and functional concept. If eye catching and quality construction and recreational and leisure facilities have been all that you  have thought about when it comes to luxury projects, think again. The latest in ultra luxury developments are the presence of amazing value added services like concierge services for residents around the clock.

Transforming the landscape of ultra luxurious living in India, are the provisions for concierge services that take care of every need, big or small, of the residents. From cleaning your home to scheduling meals, from grocery shopping to bank runs, from booking tickets to scheduling transport for air port runs, from making reservations at restaurants to taking care of bookings for a weekend getaway, concierge service providers provide a whole host of services that add immense value, comfort and yes luxury to day to day living; which lets face it, anyone with a busy life in urban areas would love to avail off. Real estate big wigs like Godrej Properties (for a project in Bengaluru) and Sunteck Realty (for a project in Mumbai) have tied up with national and international concierge service providers, an exclusive and innovative concept. On their path breaking tie up with Vertu, a luxury cell phone service provider for 'signature concierge services', MD Kamal Khetan of Sunteck Realty Pvt. Ltd. said that it “redefines the essence of concierge service known till date. Through our tie up our patrons will have access to the concierge service available in 30 countries worldwide.” and went on to talk about how partnering with complimenting brands helps create positive equity.

The Emergence of a Strong Luxury Residential Real Estate Market in India

The real estate industry has always been a mega dynamic business in India. From the bursts in population  in major and smaller cities to the flurry of national and international investors that recent decades have seen, every one is looking for the next best thing to put their capital and hard earned savings into. Mid level high end residential and well as commercial real estate has always been a common feature and one that has boomed over the years. However, there is a growing demand for new class of real estate ventures in the country that have made India a force to reckon with when it comes to real estate development – namely that of the luxury and ultra premium market.

Prices per square footage in cities like Mumbai, Bangalore and Delhi are no joke with rates reaching competitive levels with major metros around the world and buyers today are becoming far more discerning as to what level of luxury and quality they expect from their real estate purchases. An increase in purchasing power and growth in the upwardly mobile urban class has also contributed to this upswing. Gone are the days when the presence of a swimming pool and health club on premises were considered the ultimate in luxury living. Today buyers are faced with high end choices that offer facilities like multi tier security systems, on premises lounges and cafes, concierge services and much much more than one ever imagined some scant years ago.

Tie ups with other service providers also feature in grand projects like Sunteck Realty's 'Signature Island', which is set to be a landmark development in Mumbai city's famed Bandra Kurla Complex (BKC) area. The project offers exclusive apartment that have a bespoke design facility for lavish living on a king size scale. In fact, Sunteck has fast emerged as one of the leading players in the luxury real estate market today due to its service oriented approach, sound financial planning and discerning eye on the future of this market. A quote from Sunteck founder, chairman and managing director Kamal Khetan in a recent interview with Forbes, sums up what we can expect to see “Over the past few years, the company has focused on building a strong equity as a brand synonymous with ultra luxurious and premium living. With distinct brands catering to each segment of luxury has enabled us to ensure that luxury living is made available to the end user.”
With the leading real estate enterprises like Sunteck branching out and developing in to the uber luxury segments, the real estate market in India is poised for a lot more grandeur and functionally high end living options to come and investors are watching with a close eye.