DLF signs Aman Resorts deal

DLF, country’s largest realty firm has signed the deal to sell its international hotel chain, Aman Resorts. In line with its strategy to exit non-core assets and reduce debt, DLF, has announced the sale of Aman Resorts to Adrian Zecha, the luxury hotel chain’s founder and chairman, for $300 million (about Rs 1,600 crore). Both the parties have signed a definitive agreement for a management buyout, and the deal is expected to close by February 2013, However, the deal, does not include Aman New Delhi, a trophy property at Lodhi Road, which is frequented by the who’s who of Delhi.

DLF Golf Country Club

DLF Golf and Country Club was launched in 1999 and is situated in the midst of DLF City in Gurgaon, spanning over 142 acre. DLF Golf and Country Club provides DLF residents with the world class golf infrastructure. The Clubhouse is designed by architect, Hafeez Contractor in a true colonial style, it also provides state of the art 18 holes golfing facilities for avid golfers. Apart from golf course, the club also provides DLF residents with Sports Complex and the Club House. Today, the club has become a must go spot for creme de la creme of Delhi-NCR and for MNCs and other business houses in the city.

DLF divesting in wind business

DLF, realty giant will be divesting its wind business, as part of a strategy to strengthen its real estate business. Most of the DLF shareholders are in favour of selling its wind power business in order to increase its focus on realty sector. DLF owns wind farms in Gujarat, Rajasthan, Tamil Nadu and Karnataka and has an installed capacity of 228.7 megawatts (MW). The company has hired Ernst and Young (E&Y) an audit and consulting firm in order to hive off the wind unit. The company is targeting to mop up Rs 1,000 crore through sale of its wind power unit.

Too early to tell if CCI changes in DLF buyer-builder pact will become model

Modifying the buyer-builder agreement of DLF-Belaire last week, the Competition Commission of India (CCI) said it could become a model pact for the industry, since DLF is the market leader. However, according to experts, the competition watchdog might be too ambitious here, as the dominance of DLF is yet to be proved at the Competition Appellate Tribunal(Compat). Incidentally, some real estate associations are already in discussion with CCI over a model agreement for the industry. According to CCI Chairman Ashok Chawla, the modified agreement in the DLF case could work as a model framework for commercial agreements between real estate developers and property buyers, and could serve as a benchmark for the sector. “It is a very large wish of CCI. Whether DLF was dominant or not is yet to be decided,” said M M Sharma, partner, competition practice, Vyas Associates. The moot point, according to Sharma, a competition lawyer, is whether DLF is dominant in the “relevant market”. Compat’s next hearing of the DLF case is slated for Wednesday. “Whether a real estate company is dominant or not — DLF was found to be dominant because it was big — most of them follow the same format pattern that flows from big players in the market,” Chawla had told media last week. According to Vinod Dhall, former CCI chairman, the CCI’s modification in the buyer-builder agreement is part of the appeal process to Compat for a particular case. “It is a case of abuse of dominance, and a part of it is the one-sided clauses. However, it will be hard to understand who started these one-sided clauses.” However, based on the outcome of the case, if DLF makes these changes in its agreement, many developers may feel compelled to fall in line, said Dhall. The former CCI chairman added that although it was more of a consumer matter, CCI looked into one-sided agreements due to a regulatory vacuum and consumer courts being unable to have made an impact. On the other hand, the Confederation of Real Estate Developers of India (Credai) told Business Standard that it had a meeting with CCI recently to discuss standard clauses for the sector. “We have asked CCI to give us standard clauses, a list of do’s and don’ts for the entire industry,” said Lalit Kumar Jain, chairman, Credai. “We will welcome a well-dialogued document, a result of detailed discussions on what’s right and judicious,” he added. Jain said Credai will study the modified clauses by the CCI in DLF’s case and come out with its own clauses, discuss with the CCI and circulate it among builders. In case of delay in delivery, the CCI said DLF should pay an amount to its buyers as penalty, similar to the penalty the builder charges from buyers for delayed payments, the CCI said. To this, Jain said that penalty is a “hugely disputable clause”. According to R R Singh, director-general of the National Real Estate Development Council (Naredco), the draft submitted by CCI is for a particular case and is up to the Compat to accept or reject it. However, he added that after some modifications and corrections, the draft could become a model agreement. “Whoever makes the model agreement for the industry, be it the regulatory authority or the state government, the draft will work as a base for model agreement,” he said. In March 2012, Compat had asked the CCI to pass an order specifying the extent and manner in which terms and conditions of the apartment buyers’ agreement need to be modified.

Golf not just a man's game, say city women

GURGAON: City-based woman golfer Nalini Singh Siwach's
clinching of the Hero-DLF GCC trophy, the fifth leg of the
Hero-WGAI Tour last week, and city-based veteran
golfer Smriti Mehra and Vani Kapoor, who was till recently
India's top amateur, getting tied for second position, has
once again showed that golf comes good to Gurgaon women.
Siwach, whose home course is the DLF Golf and Country,
overcame the nervousness of two double bogeys on the front
nine and held her nerve in the closing stages with one birdie
and five pars in the last six holes for a card of 75, Nalini
totalled 217, four clear of Smriti Mehra (80) and Vani
Kapoor (72), who were tied for second at 221. Neha Tripathi
(74) was fourth at 227, while Saaniya Sharma (80) slipped to
fifth at 229 and Meghna Bal (75) ended sixth at 232.
It was the season's first win for Nalini, who is coached by
Anitya Chand, also the coach for Kapoor. "It feels nice to
finally win after coming close many times and it becomes
even better because this is my home course," said an elated
Siwach, who was second last week. She was also third on two
earlier occasions. For Kapoor it was her second runner-up
finish and she has one win. In five events, there have been
four winners, with only Mehra winning twice. With Mehra dropping from the top with a horrendous run of
three bogeys followed by a quadruple bogey on the par-3
16th, Nalini just had to ensure she made no similar costly
mistakes. Smriti ended with an 80 to be in a tie for second
with Vani.
Talking about her plans, Siwach said, "I just want to remain
focused. The neck-and-neck competition and the pressure
we play under in these tours is an advantage. My aim is to
play in the European Tour."
Siwach said that while the number of women golf events has
risen, the number of girls taking up the sport is not going up.
"I am lucky that I am based in this city where I get to practise
in an international standard golf course like the DLF Golf
Course. In Gurgaon there is no lack of facilities with a lot of
surrounding golf courses but in other places there is which is
one reason why women who even %want to take up golf are
not able to," said Siwach.
"We need more girls not just playing golf but playing the
game at high levels. They need to understand %that they can
make a career out of it," she added.
Siwach said given that golf is an expensive game, there
should be more sponsors and scholarships for women in the
sport. "There must be several talented girls out there but
they do not have the means. I could take up the sport as my
father was in the Army and I had the opportunity but many
do not have that," she said.
"The government should come up with more golf courses
around the country. Infact it should start giving salaries to the players because ultimately if you don't make money out
%of it no one will come forward," she added.
Siwach said while they put in the same amount of hard work
as the men golfers but when it comes to prize money at the
end of the day, women still have some catching up to do.
"Compared to men, the prize money is much less. Though it
is coming up, we still want it to grow and for that you need a
lot of girls to come into golf," she said.
Vani Kapoor, 18, who is in the first year of her professional
golf., agreed.
"There need to be more women playing golf than the number
of events. More the players, better the money that will come
into the %sport and that's what works obviously," she said.
Kapoor, who was till recently the country's top amateur, says
Gurgaon as a location is perfect for her career with the best
of facilities for the sport available in the city. Kapoor added
that though she was expecting to win the event, DLF Golf
and Country being her home course, she is in no mood to get
demotivated. "You can't win everywhere so it is ok. I am not
playing bad golf but I am capable of much better golf. My
goal is to be number one on the tour," she added.

DLF FILES 5 PATENTS FOR INVENTIONS

First Real Estate Company in India to invest time, money and resources for inventions of critical unique technologies


New Delhi…October 3, 2012…..DLF Ltd., India’s largest real estate company, has filed five patents for inventions pertaining to safety and security against any possible safety threat/ hazards to the buildings/ premises and its residents. DLF is the true and first inventor of these inventions.

DLF has filed 5 patents related to the inventions in the field of:

 Firestop cable barrier: The invention is designed to restore the fire-resistance ratings of wall and / or floor assemblies by impending spread of fire, which is done by sealing openings with fire resistant materials and covering cables and joints by fire resistant material.

Containment of inflammable and combustible liquid: The invention relates generally to tanks for inflammable and combustible liquids, and more particularly concerns system for making such tanks fire resistant in above ground installations environments.

Methods and systems for storage of batteries: The batteries, used in residential and commercial places for providing power back-up support, contain lead and sulfuric acid, hence there is a risk associated with storage of batteries. The invention relates to the methodology of and system for, in particular indoor storage of batteries with equipped with appropriate devices.

Methods and systems for storing Oil: Primarily, in industrial and commercial usage, lubricating oil and greases are important resources, most of which deteriorates with time. However, good storage practice enhances shelf life and performance of lubricants and greases. The invention, in particular, deals with methods and systems of indoor storage of lubricants and grease, equipped with heat quenching and smoke detecting devices.

A method of diverting chilled water of HVAC system in case of fire: The large buildings have extensive air-conditioning system wherein several thousand liters of chilled water is available. The invention provides a method to utilize the chilled water in HVAC to fight fire, which is in addition to the existing water storage system of the building.
This is the first time in India, that any real estate company has invested its time, money and resources for inventions and development of such unique technology critical for safety and security of building, its premises and residents.

“These inventions are in tune with DLF’s commitment of providing safe, secure and comfortable premises to its residents/ tenants. In the changing times, the most important feature of modern real estate development is to enable the buildings to be self-sufficient and reliant to avert any threat arising out of accidents i.e. Fire. We are tirelessly working towards creating a world-class infrastructure in Cybercity, Gurgaon, giving it a unique status amongst global CBDs.” commented Mr Ramesh Sanka, Managing Director, DLF Commercial Development Ltd., on filing of pat In fact,DLF has the distinction of being the only private developer in the country, to undertake various initiatives to improve the infrastructure in and around its real estate developments, including establishment of privately owned fire stations in DLF IT Park Chennai, Cybercity and DLF City Ph-V in Gurgaon equipped with world-class hydraulic platforms of 90M height. Also, construction of 16-lane road and rapid metro service in Cybercity to facilitate commuting to-n-fro Cybercity.

About DLF:

DLF is a name synonymous with global standards, new generation workspaces and luxury lifestyles and has over 60 years of track record of sustained growth, customer satisfaction, and innovation.

The company has 345 msf of planned projects with 48 msf of projects under construction.
DLF's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments  and geographies, mitigates any down-cycles in the market. From developing 22 major colonies in Delhi, DLF is now present across 15 states-24 cities in India.

It has the distinction of developing commercial projects and IT parks that are at par with the best in the world. DLF has become a preferred name with many IT & ITES majors and leading Indian and International corporate giants, including GE, IBM, Microsoft, Canon, Citibank,  Hewitt, WNS, Bank of America, Cognizant, Infosys, CSC and Symantec, among  others.

DLF pioneered the retail revolution in the country and brought about a paradigm shift in the industry by redefining shopping, recreation and leisure  experiences with the launch of City Centre in Gurgaon in 2000. The Retail Malls business is a major thrust area for DLF. Currently, DLF is actively creating new shopping and entertainment spaces all over the country.

DLF FILES 5 PATENTS FOR INVENTIONS

First Real Estate Company in India to invest time, money and resources for inventions of critical unique technologies

New Delhi…October 3, 2012…..DLF Ltd., India’s largest real estate company, has filed five patents for inventions pertaining to safety and security against any possible safety threat/ hazards to the buildings/ premises and its residents. DLF is the true and first inventor of these inventions.

DLF has filed 5 patents related to the inventions in the field of:

 Firestop cable barrier: The invention is designed to restore the fire-resistance ratings of wall and / or floor assemblies by impending spread of fire, which is done by sealing openings with fire resistant materials and covering cables and joints by fire resistant material.

Containment of inflammable and combustible liquid: The invention relates generally to tanks for inflammable and combustible liquids, and more particularly concerns system for making such tanks fire resistant in above ground installations environments.

Methods and systems for storage of batteries: The batteries, used in residential and commercial places for providing power back-up support, contain lead and sulfuric acid, hence there is a risk associated with storage of batteries. The invention relates to the methodology of and system for, in particular indoor storage of batteries with equipped with appropriate devices.

Methods and systems for storing Oil: Primarily, in industrial and commercial usage, lubricating oil and greases are important resources, most of which deteriorates with time. However, good storage practice enhances shelf life and performance of lubricants and greases. The invention, in particular, deals with methods and systems of indoor storage of lubricants and grease, equipped with heat quenching and smoke detecting devices.

A method of diverting chilled water of HVAC system in case of fire: The large buildings have extensive air-conditioning system wherein several thousand liters of chilled water is available. The invention provides a method to utilize the chilled water in HVAC to fight fire, which is in addition to the existing water storage system of the building.
This is the first time in India, that any real estate company has invested its time, money and resources for inventions and development of such unique technology critical for safety and security of building, its premises and residents.

“These inventions are in tune with DLF’s commitment of providing safe, secure and comfortable premises to its residents/ tenants. In the changing times, the most important feature of modern real estate development is to enable the buildings to be self-sufficient and reliant to avert any threat arising out of accidents i.e. Fire. We are tirelessly working towards creating a world-class infrastructure in Cybercity, Gurgaon, giving it a unique status amongst global CBDs.” commented Mr Ramesh Sanka, Managing Director, DLF Commercial Development Ltd., on filing of pat In fact, DLF has the distinction of being the only private developer in the country, to undertake various initiatives to improve the infrastructure in and around its real estate developments, including establishment of privately owned fire stations in DLF IT Park Chennai, Cybercity and DLF City Ph-V in Gurgaon equipped with world-class hydraulic platforms of 90M height. Also, construction of 16-lane road and rapid metro service in Cybercity to facilitate commuting to-n-fro Cybercity.

About DLF:

DLF is a name synonymous with global standards, new generation workspaces and luxury lifestyles and has over 60 years of track record of sustained growth, customer satisfaction, and innovation.

The company has 345 msf of planned projects with 48 msf of projects under construction.
DLF's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals. Its exposure across businesses, segments  and geographies, mitigates any down-cycles in the market. From developing 22 major colonies in Delhi, DLF is now present across 15 states-24 cities in India.

It has the distinction of developing commercial projects and IT parks that are at par with the best in the world. DLF has become a preferred name with many IT & ITES majors and leading Indian and International corporate giants, including GE, IBM, Microsoft, Canon, Citibank,  Hewitt, WNS, Bank of America, Cognizant, Infosys, CSC and Symantec, among  others.

DLF pioneered the retail revolution in the country and brought about a paradigm shift in the industry by redefining shopping, recreation and leisure  experiences with the launch of City Centre in Gurgaon in 2000. The Retail Malls business is a major thrust area for DLF. Currently, DLF is actively creating new shopping and entertainment spaces all over the country.

Rate sensitive sectors extend gains after CRR cut

Interest rate sensitive sectors remained the frontrunners in Monday's trade even as the benchmark equity indices trimmed their gains after the Reserve Bank of India (RBI) kept the key interest rate unchanged in its latest credit policy decision.
Stocks from realty, banks and infra spaces extended their Friday's gains after the central bank announced a cut in the cash reserve ratio (CRR) by 25 basis points to 4.5%, but refrained from altering the repo rate from 8%.
The sectoral index on realty that closed at 1,737.58,was the biggest gainer, adding nearly 6.5%, followed by capital goods & infra and banking & financial services, which both rose 3-4% to end the session at 10,412.17 and 12,572.43, in that order. The 30-share benchmark Sensex closed at 18,542.3, up 78 points or 0.4%.
Realty stocks like DLF, HDIL, Phoenix Mill and Indiabull real estate surged as much as 6-to 14% on Monday while capital goods players clocked-in gains of more than 4%.The banking player rose 5-7%.
DLF Limited is india's largest real estate company and has a track record of over 62 -year of sustained growth,customer satisfaction,and innovation.Currently DLF has pan india presence across 28 cities.DLF has approximately 250 million sq.ft of completed development,350 million sq.ft. of planned projects and has 50 million sq.ft.of projects under construction.

RETAIL reforms to help real estate firms like DLF to kick-start projects

Friday's big-bang retail reforms have perked up some of India's biggest real estate firms such as DLF, the country's largest real estate company, is already planning to kick start the largest mall in India, with 4 million sq ft of space in Gurgaon and is hoping that by the time the mall opens in 2015-16, quite a few new retailers and brands would have entered the country by then with the easing of FDI in single and multi-brand retail."Retail real estate has been down and out for the last three years and this move will give a fillip to the segment," says Pranay Vakil, chairman, Knight Frank India.There are lots of empty spaces in malls across the top metros in the country right now. In the April-June 2012 quarter, there was about 26% vacancy in malls of Delhi-NCR, 23.5% in Mumbai and 18% in Pune and between 5% and 15% in Bangalore, Hyderabad and Chennai, and rentals have been under pressure."Rentals are not likely to go up immediately, but space take-up will be far better than current levels," said Anuj Puri, chairman and country head, Jones Lang LaSalle India. The condition to put at least 50% of total FDI in back-end infrastructure within three years of the induction of FDI will also help improve the infrastructure and its efficiency, say experts. According to Jones Lang LaSalle, malls are a Rs 24,000-crore business opportunity, which is expected to double over the next 10 years, with the opening up of FDI in retail While there has been severe opposition to opening up foreign investment in multi-brand retail in India which has delayed the policy by many years, there's no doubt that retail plays a big role in improving the productivity of economies at large.many real estate majors like DLf have seen complained about this delay in policies in the past. Ramesh Sanka, who heads retail at DLF, is more confident of building malls now. "We should be able to construct malls more confidently now," he says. The group is currently building one of the largest malls in India, in Noida, which will be operational middle of next year, and another one in Gurgaon's Golf Course Road.Next year, it will start construction on the 4 million sq ft Mall of India in Gurgaon, which will be the largest in the country when completed in 2015-16. "The policy will help the growth of organised retail in the country, including in malls," says Sanka. The opening up of both single and multi-brand retail for foreign players would allow for a whole new tenant mix in malls. At present, there are only a handful of large retailers who are chosen by builders to come in as anchor tenants for their malls, which is one of the reasons why a number of smaller malls have not been able to get the footfalls in the past few years. The total number of malls in India has jumped from 20 in 2003 to about 240 in 2010 to about 280 now. According to Jones Lang LaSalle, malls are a Rs 24,000-crore business opportunity, which is expected to double over the next 10 years, with the opening up of FDI in retail. While there has been severe opposition to opening up foreign investment in multi-brand retail in India which has delayed the policy by many years, there's no doubt that retail plays a big role in improving the productivity of economies at large.

Realtors in hectic talk with retail giants

With decks cleared for multi-brand retail giants to enter India, the country’s real estate developers are busy drawing up plans to tap the fresh demand the development will generate in the commercial realty sector.
The government on Friday decided to open up the multi-brand retail sector to up to 51 per cent of foreign direct investment (FDI). Earlier this year, the government notified rules to increases FDI in single brand retail to 100 per cent from 51 per cent “International retail chains like Walmart, tesco, Metro, Spar and a few others are in talks with real estate firms to take up space in mixed use projects and malls. As the retail space market was in a slump with increasing vacancy rates and falling rentals, the FDI policy has come as a major boost.According to a Cushman & Wakefield report, NCR saw the highest mall supply deferment of over 80 per cent, ensuring the city maintained vacancy levels at 28 per cent. NCR saw only 120,000 sq ft of mall supply in January-March and no supply in the April-June quarter of 2012.Developers, who shifted their focus to residential in times of economic slowdown, are back to drawing up big retail plans.India’s largest real estate player DLF, which is coming up with a 1.8 million sq ft mall at Noida called ‘Mall of India’, is in touch with all leading foreign players planning to enter India. “Yes, we are in touch with all foreign retail players, they were waiting for clarity on the FDI policy,” said Rajeev Talwar, executive director, DLF. He told Business Standard the company would be more focussed on the retail segment from now on. DLF’s Mall of India is expected to be operational in the third quarter of 2013-14.At present, DLF has 1.38 million sq ft of leased retail space across the country, and earns annualised rental income of Rs 250 crore. Last year, DLF had chalked plans to invest Rs 3,000 crore over five years to develop shopping malls of 3.5- 4.3 mn sq ft. As per Cushman & Wakefield, about 1 million sq ft of expected mall supply was deferred to second half of the year or next year. The overall vacancy rate for the major cities as the April-June quarter stood at 19.6 per cent.

DLF COMPLAINT ABOUT POLICY PARALYSIS

NEW DELHI: Kushal Pal Singh, the chairman of India's largest real estate firm, DLF Speaking at the company's 47th annual general meeting,complained that the slow decision making process of goverment is resulting in delays in vitally needed policy formulations. The billionare industrialist complained and warned that the current policy paralysis has had an adverse impact on the country's growth momentum denting business confidence
Singh called for "crucial changes in policy approaches aimed at providing easier access to capital at substantially lower interest costs and creating an investor-friendly atmosphere in the urban development and housing sector."
Unlocking the potential of the housing and construction sector is one of the key revival tools, he added. He said that the country's policymakers, bureaucrats and the judiciary have been somewhat apprehensive about the role of the private sector developers in the sphere of housing and real estate development
The ground reality ,his complaint,is that there are serious shortfalls in providing adequate urban infrastructure."The cost of not paying attention to our cities is enormous.The policy vaccum is leading to worsening urban decay and gridlock,a declining quality of life for citizens and a growing reluctance among investors to commit resources to india;s urban centers"complained singh.

India's unique demographic dividend could turn into a demographic nightmare: DLF chairman, Kushal Pal Singh

NEW DELHI: Kushal Pal Singh, the chairman of India's largest real estate firm, DLF, today warned that the current policy paralysis has had an adverse impact on the country's growth momentum denting business confidence, and could lead to its unique demographic dividend turning into a demographic nightmare.
Speaking at the company's 47th annual general meeting, the billionaire industrialist said, "It is clear that these developments are leading to a challenging scenario in which the decision making process of the government has slowed down, resulting in delays in vitally needed policy formulations."
He said that the country can ill-afford a deceleration in growth rates and consequent shrinkage of employment opportunities for young job-seekers.
"Inevitably, all this has had an adverse impact on the growth momentum of the country's economy and affected the confidence of the business community as well as the citizens," he said.
Singh called for "crucial changes in policy approaches aimed at providing easier access to capital at substantially lower interest costs and creating an investor-friendly atmosphere in the urban development and housing sector... Unlocking the potential of the housing and construction sector is one of the key revival tools." He said that there was a need for easier access to capital at substantially lower interest costs and the creation of an investor-friendly atmosphere.
He said that the country's policymakers and bureaucrats, and the judiciary, have been somewhat apprehensive about the role of the private sector developers in the sphere of housing and real estate development.
The ground reality, he said, is that there are serious shortfalls in providing adequate urban infrastructure. "The cost of not paying attention to our cities is enormous. The policy vacuum is leading to worsening urban decay and gridlock, a declining quality of life for citizens and a growing reluctance among investors to commit resources to India's urban centres," said Singh