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Editorial


GIREM 101 GIREM


(Global Initiative for Restructuring Environment and Management) No. 34, Ground Floor,Andree Road, Bangalore - 560027


PRESIDENT SHYAM SUNDAR S PANI shyam@girem.in


EDITOR-IN-CHIEF R.CHANDRAKANTH chandrakanth@girem.in


ASSISTANT EDITOR NIRMALA RAO


CONTRIBUTORS S.DAS MAHAPATRA (DELHI) BINDU GOPAL RAO (BANGALORE)


EDITORIAL ADVISORY PANEL: SANKEY PRASAD CMD, Synergy Property Development Services


SANJAY DUTT CEO - Business, Jones Lang LaSalle


RAMESH MENON Founding Partner, Certes Realty


NARESH NARASIMHAN Director, Venkataramanan Associates


MARKETING HEAD RUPALIM rupalim@girem.in


ART DIRECTOR KIRAN KUMAR REDDY kiran@girem.in


Accord industry status


Te real estate sector, both commercial and residential, is buoyant and has been having a cascading effect on the economy. One of the plus points of the sector is that it pro- vides large scale employment, despite in- creased mechanisation that is taking place in the construction sector. Not to forget its


contribution to the gross domestic product.


However, the sector has not found favour with the government. Developers and builders have been demanding for quite some time industry status for the sector, but it has fallen on deaf ears. Te Finance Minister, Pranab Mukherjee just glossed over the demands of the sector which include special economic zone incentives for promoting real estate development like housing finance, rental housing, deduction for irrecoverable rent and as- sessment for bank incremental deposits.


Industry status will bring about major transformation in the outlook and nature of the sector, inculcating corporate culture and industry discipline.Importantly, it would help the sector get bank loans on average interest rates and at low collaterals.


Notwithstanding the lack of government support, the sector is looking ahead and there is pan-India development. GIREM 101 is enthused about the growth momentum the sector is find- ing in not just the metros but also in II and III tier cities. We have featured Top Realty Destinations for commercial space at a macro level, but must confess that there is a lot of activity in many cities which we have not mentioned for reasons of space constraints.


In line with our vision, GIREM 101 is looking at the urban eco system and in this holistic picture, we have featured on how technology helps in improving efficiencies. GPS in transporta- tion has been doing wonders and we hope that GPS would be deployed on a larger scale.


One of our sections which we are excited about is the Global Trends. In the first issue, featured Mazdar city in Abu Dhabi high on energy efficiency. In the second issue, we highlighted Copenhagen which is riding its way to become a bicycle city. In this issue, we are featuring Seoul, a totally wired city and now working to become a global design city. We hope that such sto- ries will impact us positively.


R.Chandrakanth Editor


GIREM 101


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