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Tuesday, June 30, 2015

Flatchat raises $2.5 Million from Commonfloor

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Flatchat, a mobile only app for students and bachelors to find accommodation and flatmates has raised 2.5M$ from CommonFloor.com. Founded six months back by Gaurav Munjal and Hemesh Singh,Flatchat enables easy and quick chatting connectivity between a seeker, a prospective owner, a tenant to potential flatmates and other seekers.

With the raised capital Flatchat is aiming to make its product team stronger by hiring the best product and engineering talent. The fund will also be used to scale up operations and establishing foothold across the country especially in the cities which have a higher population of students and bachelors.

Commenting on the big leap by the company, Gaurav Munjal, CEO, Flatchat saysThe rentals problem especially for bachelors and students is a tricky one, and we always believed that the best way to solve the problem is not with having more listings or a better UI but a behaviour change in the way owners and seekers communicate, real-time. And that’s how Flatchat came into existence and within six months has seen a remarkable growth, thanks to CommonFloor for believing in us since the inception and for this impetus which will help us take Flatchat to the next level.”


Sumit Jain, Co-Founder & CEO, CommonFloor.com, commented, “We are excited to support Flatchat team in their endeavour to simplify the students & bachelors' accommodation concerns in the country. This segment has a good growth potential and Flatchat’s unique and technology centric operating model is a differentiating factor which seamlessly connects seekers and owners on a real time basis on a chat based platform.”

Flatchat has crossed 50,000+ users across both Android and iOS platforms, with 80% of the traffic coming from Android. More than 350,000 messages were exchanged on the platform last month and the product has seen a growth of 100% MOM. On Google Playstore, standing at a rating of 4.5, Flatchat is the highest rated rentals app, with over 1100 ratings.

About CommonFloor.com
Launched in 2007 by Sumit Jain, Lalit Mangal and Vikas Malpani, CommonFloor.com, is India’s leading real estate platform that combines property search, apartment management and vendor management and caters to a person’s complete residential requirements.
From searching for an apartment to facilitating interactions within an apartment community on the ‘CommonFloor’ platform, to connecting one to relevant service providers, the platform is dedicated to meeting all aspects of consumers’ needs around their home. With over 5 lakh active property listings from over 200 cities, it has over 1 lakh residential projects listed with it. CommonFloor.com has been funded by Accel Partners, Tiger Global and Google Capital.
To know more about CommonFloor.com, please visit: http://www.commonfloor.com/

About Flatchat
Flatchat connects potential flatmates, prospective owners and seekers to group together by providing matches based on location and requirement. An accommodation assistant is also present to help with queries and in solving issues, if any.

Flatchat is a broker free platform which aims at connecting you with Flats (owners) and Flatmates without having to go through Brokers. Flatchat helps you with accommodation services in Bangalore, Mumbai, Delhi-NCR, Pune, Chennai and Hyderabad.

When you share a flat, the most important thing is with “whom” you are going to share it with. All you need is a Facebook profile to get started. Flatchat then shows you matches according to your needs. You can chat with these matches and take it ahead, and voila! Your accommodation worries are taken care of. Download Flatchat at http://flatchat.com


Mr. Sunil Subramaniam named CEO of Sundaram Mutual

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Mr. Sunil Subramaniam, Deputy CEO, has been designated CEO of
Sundaram Asset Management Company Limited with effect from 1st July, 2015. Sunil has also been inducted into the Board of Directors as a Whole Time Director.

Mr. Sunil Subramaniam, aged 54, joined Sundaram Mutual in September 2005. In his tenure spanning over nine and half years, he has handled various roles – Vice President (Retail Distribution), Executive Director (Sales and Marketing), Director (Sales and Global Operations) and most recently Deputy CEO. He is also on the Board of Sundaram Asset Management Singapore Pte. Ltd. During the time he has been with Sundaram Mutual, the AUM of Sundaram Mutual has seen many fold growth.

Commenting on this appointment, Mr. Harsha Viji, Managing Director, Sundaram Mutual, said, “Sunil has over the years taken a more central role in the leadership of the company, and with his elevation to CEO, he will take on an even wider role. Starting as head of retail sales, Sunil moved on to head the sales and marketing of the entire organization and was instrumental in driving the highly successful NFOs, and retail focused sales that helped us build a strong base. Over the last few years, he has also managed the portfolio management business and the Singapore business from end to end, with great results and I wish Sunil the very best in his new role.”
Sunil Subramaniam - CEO - Sundaram Mutual

Mr. Sunil Subramaniam has completed his Master in Business Administration from The Open University Business School, London and is an MSc graduate from IIT, Madras. He is also a Certified Associate of the Indian Institute of Bankers.

He has 31 years of work experience in the financial services sector across MNC, Public sector and Private sector companies. 

The companies he has worked with include State Bank of India,
American Express Bank and Bank of America.

About Sundaram Mutual Fund:

Sundaram Mutual Fund, a major player in the fund management with retail focus, has an
accomplished and acclaimed track record since it commenced business in 1996 with assets under management of about Rs.22,000 crores as on May 31, 2015.

Sundaram Mutual Fund has a bouquet of equity and fixed-income funds catering to diverse investor preferences.

Sundaram Mutual Fund has 88 locations across India covering all leading centers.

For more information on Sundaram Mutual Fund and its products, 
please visit


For Media Enquiries:
Harit S. Tank
Tel.Nos.: 022 – 26819101 Dir.: 022 – 26819115 Mobile: +91 98194 55607.
Email: harittank@sundarammutual.com or harit.smf@gmail.com
Ajit Narasimhan

Tel.Nos.: 044 – 28569900 / Dir.: 044 – 28569809 Mobile: +91 98405 05930.

Mutual Fund Investments are subject to market risks, read all scheme related documents
carefully.


Nominations for CavinKare - MMA Chinnikrishnan Innovation Awards 2015

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Nominations for CavinKare - MMA Chinnikrishnan Innovation Awards 2015..!


The 4th edition of CavinKare – MMA Chinnikrishnan Innovation Awards 2015 which to be held in September this year(2015) , now invites nominations from across Tamil Nadu and Puducherry. 

The award gets bigger and stronger this year as Madras Management Association (MMA) is partnering with CavinKare to honor aspiring small and tiny entrepreneurs. 

The CSR initiative has been established in memory of Late Shri R ChinniKrishnan- who pioneered the sachet revolution and it embodies qualities of him like dreamer, innovator and ideator. 

Application download from

 www.mmachennnai.org/www.cavinkare.com 

head-cce@mmachennai.org/mma@mmachennai.org.cce

96770 77700 / 94440 58176

For more details

G. Sreenivasan
Sr.Manager - Regional Media PR
brand-comm

Sagas Kalyani Arcade | # 10, 3C - 2nd Floor | Cenotaph Road |Teynampet |
Chennai – 600 018 | M:+9198411 09712 | 

Monday, June 29, 2015

Monthly Real Estate Monitor Pune June 2015

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by JLL India

OFFICE
The demand for office space remained stable.
 Transaction activity recorded moderate pre-commitments and healthy movement among
the ready to occupy office spaces,
 primarily due to the consolidation and expansion by the existing occupiers.

Major transactions:
Bloomberg and Metro, both in SBD
Key Precincts
Rental Value (INR per sq ft per month)
Capital Value (INR per sq ft)
MG Road
100–160
15,000–21,000
Bund Garden Road
90–130
13,000–17,000
FC Road
100–150
15,000–20,000
JM Road
100–150
15,000–20,000
DP Road
90–130
12,000–16,000
SB Road
80–140
13,000-16,000


RETAIL
In the month of May, the demand for Pune residential market improved primarily on the back of attractive pre-launch offers by select developers.
Also, launches by prominent developers witnessed good demand.


New Launches:
A new tower inside Godrej Prana in South East submarket
Rama Melange Residences in Hinjewadi

Key Precincts
Rental Value (INR per sq ft per month)
Capital Value (INR per sq ft)
MG Road
100–160
15,000–21,000
Bund Garden Road
90–130
13,000–17,000
FC Road
100–150
15,000–20,000
JM Road
100–150
15,000–20,000
DP Road
90–130
12,000–16,000
SB Road
80–140
13,000-16,000

RESIDENTIAL
In the month of May, the demand for Pune residential market improved primarily
 on the back of attractive pre-launch offers by select developers.
Also, launches by prominent developers witnessed good demand.

New Launches:
A new tower inside Godrej Prana in South East submarket
Rama Melange Residences in Hinjewadi
Key Precincts
Rental Value (INR per month for a 1,000 sq ft 2BHK apartment)
Capital Value (INR per sq ft)
Wakad
10,000–13,000
5,000–6,500
Hinjewadi
9,000–11,000
4,800–6,500
Kharadi
11,000–15,000
5,000–7,200
Hadapsar
13,000–18,000
5,500–7,500
Undri
8,000–12,000
4,000–5,500
Pimri-Chinchwad
8,000–15,000
4,500–6,000

Policy/ Infrastructure..!
There were no infrastructure update for May, 2015.
About JLL India..!
JLL is India’s premier and largest professional services firm specializing in real estate. With an extensive geographic footprint across 11 cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 6800, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, industrial, capital markets, residential, hotels, health care, senior living, education and retail advisory.
The firm was named the Best Property Consultancy in India (5 Star Winner) at the International Property Awards – Asia Pacific for 2012-13. For further information, please visit www.joneslanglasalle.co.in
For more information about research, contact
Ashutosh Limaye
Head, Research and REIS +91 98211 07054
 Sujash Bera
Assistant Manager,
 Research +91 033 3343 6125
 sujash.bera@ap.jll.com


Monthly Real Estate Monitor Mumbai June 2015

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by JLL India

OFFICE

The month of May witnessed robust transaction activity in
Mumbai office market. Interestingly, select occupiers were seen expanding
their offices in suburban nodes of the city.
 Navi Mumbai submarket witnessed
two office building completions.

Major transactions:


Snapdeal and Integreon, both in western Suburbs

Key Precincts
Rental Value (INR per sq ft per month)
Capital Value (INR per sq ft)
Lower Parel
160–220
17,500–24,000
BKC
240–330
26,000–34,000
Andheri - Kurla Road
100–145
10,000–15,000
Goregaon-Malad
85–110
9,000–12,500
Wagle Estate
50–65
5,200–6,900

RETAIL
Healthy transactions in existing as well as new malls in
 Suburbs helped reducing the number of vacant space
 in the sub-market.

Major transactions:

Reliance Trends in Western Suburbs

Skipper Furnishings and Mom & Me, both in Eastern Suburbs

Key Precincts
Rental Value (INR per sq ft per month)
Capital Value (INR per sq ft)
Lower Parel
260–390
22,000–32,300
Malad
160–250
12,500–20,000
Ghatkopar
130–220
10,100–18,300
Mulund
125–200
9,500–15,500
Thane
100–185
8,000–14,500
Navi Mumbai
75–150
7,000–12,000


RESIDENTIAL
Mumbai residential sector saw slight fall in overall sales during month of May.
However, new launches remained stable.
Suburban locations of Mumbai remained attractive destination for the new launches.

New Launches:
Sheth Avante at Kanjurmarg
Sheth Montana at Mulund
Bhagwati Greens at Kharghar

Key Precincts
Rental Value (INR per month for a 1,000 sq ft 2BHK apartment)
Capital Value (INR per sq ft)
Lower Parel
60,000–1,10,000
25,000–40,000
Wadala
35,000–60,000
15,000–23,000
Andheri
32,000–55,000
12,500–21,500
Ghatkopar
30,000–46,000
11,500–17,000
Ghodbunder Road
12,000–25,000
6.000–9,500
Kharghar
10,000–18,000
6,000–9,000

Home buyers in Mumbai and the rest of Maharashtra are set to receive
a relief as the state government is planning to reduce the stamp duty on
residential properties spread over less than 750 square feet for the economically weaker sections(EWS), lower income groups (LIG) and middle income groups (MIG).

The stamp duty rates will be rationalised with 1% levy for houses for EWS, 2% for LIG houses, and 3% of the agreement value for MIG houses.

About JLL India..!

JLL is India’s premier and largest professional services firm specializing in real estate. With an extensive geographic footprint across 11 cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 6800, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, industrial, capital markets, residential, hotels, health care, senior living, education and retail advisory.
The firm was named the Best Property Consultancy in India (5 Star Winner) at the International Property Awards – Asia Pacific for 2012-13. For further information, please visit www.joneslanglasalle.co.in

For more information about research, contact

Ashutosh Limaye
Head, Research and REIS +91 98211 07054

 Sujash Bera
Assistant Manager,
 Research +91 033 3343 6125

 sujash.bera@ap.jll.com

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