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.

Sunteck City Features Disney Inspired Rooms

Sunteck City launched by Sunteck Realty Ltd (which is led by Mr. Kamal Khetan) is literally, an epitome of luxury. The Disney inspired rooms at Sunteck City are the real highlights of the project.

At Sunteck City, our Disney inspired rooms are especially designed for your little ones. They are as follows:
Princess Room:
At Sunteck City, Take your little princess’ hand and lead her into the land of her dreams – her very own Princess room where she can awaken from her 4 poster Princess bed into a world full of magic. Where the beautiful princess stories come alive and where castles, tiaras and wands remind her every single moment how special she is.

Mickey Mouse room:
At Sunteck City, Give your child a room where every day is a celebration – the Mickey room. from a special mickey bed to a table in the centre and special Mickey, Minnie, Daisy and Donald chairs for each of his or her friends, it truly a place for sharing, caring and lots and lots of fun.

Spiderman room:
He is cool, smart and all grown up. He is your super hero. The Spider-man room at Sunteck City, is his world…his secret space. Where he can zoom out of his Spidey bed into his special hi-tech zone, full of webs on the wall, which store his cool stuff.

Project Highlights for Sunteck City

Following are the project highlights for Sunteck City that was launched by Kamal Khetan’s Sunteck Realty Ltd:

• Project spread over an expanse of more than 20 acres

• Phase-1 of Sunteck City comprising of 3 premium towers

• Luxurious 2& 3 BHK residences

• Strategically located and nestled amidst world- class recreational, educational and medical facilities

• Quick access to Western Express Highway via new East- West flyover

• Disney inspired spaces: Children’s room, swimming pool, library, children’s play area.

• Activity Zone : Multipurpose court, jogging track, indoor games zone, squash court and state of the art gymnasium

• Leisure Zones: Club House, Multiple pools, Steam, sauna and Jacuzzi, Sit – Out zones for senior citizens, themed gardens, landscaped areas designed by an internationally acclaimed team of architects

• Lifestyle Amenities : Concierge desk, business centre, launderette service, banquet room with party lawn, car recognition gates, gated security, 24/7 surveillance and security features

Kamal Khetan’s Sunteck Realty associates with Vertu to redefine Indian luxury residential spaces

- Exclusive Access of Global Concierge Service through a dedicated ‘concierge desk’ at Sunteck’s flagship project- Signature Island located at BKC–

- ‘Signature Concierge services’ to enhance the luxury lifestyle experience of Signature Island–

Mumbai, March 27^th, 2012: Sunteck Realty, led by Kamal Khetan a leading premium real estate developer, in association with Vertu, market leader in luxury mobile phones announced the launch of ‘Signature Concierge services’ for the residents of Signature Island. Sunteck’s Signature Island, the flagship project of the company is located in the heart of Bandra Kurla Complex, Mumbai. The concierge services will be accessible through the Vertu Signature & Constellation handset in each apartment and a dedicated ‘Signature concierge services’ desk at Signature Island. An ultra-premium luxury project, Signature Island, will be home to top honchos of the corporate world and the association with Vertu is a step towards giving them the best concierge services available globally.

Signature Island, with developable area of over 1 mn sq.ft, is an iconic landmark at Bandra Kurla Complex (BKC) that makes for an enviable residential address for the discerning few. Each of the duplex apartments at Signature Island, designed on the concept of ‘Bespoke’ model which offers high degree of customisation to the residents. The duplex apartments are available in two configurations- 7000 sq.ft and 11,000 sq.ft. Signature Island is surrounded by renowned international educational institutes, hospitality services and infrastructure. BKC being the commercial hub of Mumbai, makes the ‘walk to work’ concept come alive. Signature Island is nearing completion and will be handed-over by end of the year.

Speaking on the announcement, MrKamal Khetan, Chairman & Managing Director, Sunteck Realty says “The fast growing luxury market in India is testament to the fact that India’s global traveller appreciate exclusivity and has a penchant for luxurious experiences. Signature Island apartments have been meticulously designed to cater to the lifestyle preferences of its residents and provide unparalleled luxurious living spaces. To give a complete experience of luxury, we started with the best location and engaged the most esteemed and renowned partners to deliver an ultra luxurious project. The association with Vertu reiterates Sunteck’s endeavour to bring world-class amenities at Signature Island.”

Signature Island residents can access the Vertu’s concierge service through a dedicated key on the Vertu handsets, which will be made available in each apartment. In addition to this, the ‘Signature Concierge desk within the premises of the project, will enable residents to interact with a Concierge representative in person.The Signature Concierge services will provide bespoke 24/7 assistance to the residents.

Speaking on the association, Mr. Gordon Watson, Head of Vertu Europe, Middle East,Africa and India, “The Vertu concierge service is a manifestation of the luxury lifestyle that Signature Island reflects. Our Concierge service will enable the residents of Signature Island to experience exclusive lifestyle without having to actually arrange it themselves. It will be our endeavorto leverage our knowledge bank and global network to satisfy the lifestyle needs of the residents.”

Signature Island Project features( to be updated )

•        Duplex apartments with grand atriums with the height of more than two hundred feet

•        Each duplex unit has its own elevator within the unit

•        Indoor temperature control swimming pool

•        Well equipped gymnasium

•        In house health care centre, mini consumable shop, laundry

•        High-end digital security system

•        Exclusive audio visual rooms

•        Partnered with Talati & Panthaky, the renowned architect for architectural design and site supervision services

•        Shapoorji Pallonji has completed major RCC structure.

•        JLL has been engaged as an independent consultant for project management

Notes to editors:

About Sunteck Realty:

Sunteck Realty Ltd is a leading real estate developer, a Mumbai focused real estate development company with a market capitalization of approximately INR 25 billion. It has over 35 million square feet of city centric developments across 27 projects and 4 rented assets. Of these developments, more than 80% are premium luxury residential with balance being commercial spaces. Nearly 90% of Sunteck’s economic value emanates from its Mumbai projects. Sunteck Realty forms part of the Bombay Stock Exchange Realty Index and is listed on NSE. 9% stake is held by Kotak Realty Fund in the listed entity. Some of the other major share holders in the company include marquee investors like US based pension fund Tiaa cref & Singaporean hedge-fund Tree-line Capital. The company is developing several projects with the renowned Ajay Piramal group under a Joint Venture.

About Vertu:

Vertu is the pioneer and leading manufacturer of luxury mobile phones. Created to complement the discerning customer’s lifestyle, Vertu offers tailored, luxury services in combination with the finest in design, engineering and manufacture. With three distinct collections- Signature, Ascent and Constellation- Vertu uses innovations in manufacturing technology with traditional craftsmanship, assembling each phone at the company’s headquarters in England. Vertu is available in over 500 stores, including over 70 Vertu boutiques, in 66 countries worldwide. For more information please visit www.vertu.com

For further information, please contact:

Nikhil Savio / EshaManwani

Hanmer MSL, Mumbai

Ph: 09833277327 / 09833520457

Email: nikhil.savio@hanmermsl.com / esha.manwani@hanmermsl.com

Palak Dani

AGM – Marketing and Corporate Communication

Sunteck Realty Ltd

Cell- 9004256669

Email- palak.dani@sunteckindia.com