Tag Archives: Royal Institution of Chartered Surveyors

In London, Tata Housing Development to represent APAC at the International Property Awards

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Tata Housing Development Company (Tata Housing), India’s fastest growing real estate development company, with over 46 million sq ft under various stages of development, has once again triumphed at the most prestigious Asia Pacific Property Awards 2012 (part of the International Property Awards), for the fourth year in a row, bagging five coveted awards under various categories.

Tata Housing is the country’s only residential developer to receive the prestigious five-star award in the Leisure Architecture category for La Montana; highly commended awards in the Show Home category for Prive and Primanti; highly commended award in the Development Marketing category for La Montana; highly commended developer website for www.lamontana.co.in.

Additionally, La Montana, a Mediterranean-themed township located at Talegaon, designed by international architect firm F + A, was adjudged as an Asian contender in the Leisure Architecture category, to compete against the highest-scoring contenders from Europe, Africa, the Americas and Arabia, to find the ultimate ‘world’s best’.

Speaking on the achievement Brotin Banerjee, managing director and chief executive officer, Tata Housing, said, “At Tata Housing, it’s our constant endeavour to create benchmark projects based on the consumer’s needs and requirement. We are proud of our continued success at the Asia Pacific Property Awards. This year is special for us as our project La Montana achieved the distinction of winning the five-star rating for Best Leisure Architecture India, and it leads from the Asia Pacific region to be honoured with Best Leisure Architect Residential Asia Pacific. It is indeed a very proud moment for us as this is the only residential project to be nominated from India to represent the Asia Pacific region for the International Property Awards. This will strengthen our commitment to create landmark projects in the country.”

Held in association with Royal Institution of Chartered Surveyors (RICS) Asia, the Asia Pacific Property Awards recognises 40 categories of distinction within the fields of development, interior design, architecture and real estate. Each project was judged by a team of 65 professionals from the property discipline. They are ascertained based on quality of design, construction and presentation of individual properties as well as interior, architecture and marketing.

The Asia Pacific Property Awards are part of the long-established International Property Awards and its winners’ logo is recognised as a symbol of excellence throughout the global industry. Founded 18 years ago, these accolades distinguish excellence in the property industry worldwide, and promote international standards. For the last four years consecutively, Tata Housing has been acknowledged with multiple accolades at this prestigious annual symposium, demonstrating that it is again at the forefront of the real estate industry in Asia.

Real Estate Industry In India To Reform

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LAA cover
Photo by Joe AthialyIndian Real Estate Developers have fastened their seatbelts to come at par with their counterparts in other parts of the world. This has been started by the formation of new boards and committees which will include leaders from the Real Estate and Infrastructure sector of the country.

The move was initiated by RICS (Royal Institution of Chartered Surveyors) India.

The persons in the committee will mainly focus on developing standards and practices in the Indian Realty Market to increase the level of professionalism and transparency among professionals as well as bring reforms in policies for the benefit of people at large and overcome barriers obstructing the growth of industry.

The various challenges that have to be met are the currently fragmented and old legal system including the current laws on land acquisition, problems associated with Rent control laws, providing infrastructure facilities keeping pace with the speed of urbanization, lack of skilled professionals in the industry, among others.

As said by Sachin Sandhir, MD, RICS India, “As the mark of property professionalism worldwide, RICS aims to develop professional knowledge and standards in India and protect public interest through best practice regulation. We are pleased to be represented by India’s most established and respected professionals in this industry and are confident our new Boards and Committees will enable us realize this goal”.

An Agenda-driven conference on the issue saw participation from various Government bodies such as SEBI, National Housing Bank, Ministry of Corporate Affairs. Matters that were discussed were the need for valuation reform and the directions for future practices for the Real Estate Industry.