Bengaluru residential market joins the bandwagon, under stress for the first time; Office demand remains steady:Knight Frank India

Bengaluru, July 30, 2015: Knight Frank India today launched the third edition of its flagship half yearly report – India Real Estate. It presents a comprehensive analysis of the residential and office market performance of Bengaluru for the period between January–June 2015 (H1 2015).

  • Despite Bengaluru accounting for the highest number of new launches in H1 2015 in the country, it recorded a decline of 40% Y.O.Y, highlighting market malaise catching up with the city.
  • Bengaluru performing better than the National Capital Region(NCR) and slowly closing in on Mumbai in sales.
  • North Bengaluru exudes optimism regarding new launches and absorption while South Bengaluru loses its sheen.
  • West Bengaluru witnessing a slew of residential projects in the premium segment with metro connectivity as one of the major factors adding to its attractiveness.
  • Despite the relative slowdown in H1 2015, Bengaluru remains one of the best performing markets in India.

 ffice Takeaways:-

  • Bengaluru Office market continues to be bullish in its demand while new completions face constriction; rents expected to increase by 6% during the next 6 months
  • Gradual decline observed in IT/ITeS dominance; emergence of e-commerce takes forefront
  • Big ticket transactions led the city to account for the largest deal sizes in the country
  • Impending construction of the Metro rail project to have a short-term adverse impact on Whitefield
  • Untapped northern corridor like Thanisandra andNagawara holds potential for office demand owing to residential traction, improved infrastructure, lower rentals and good connectivity to CBD

Speaking about the findings, Satish BN, Executive Director, South said:

Notwithstanding a few hiccups, Bengaluru remains one of the best performing markets in India. Although the residential market did witness some lows with 40% drop in launches and unsold inventory build-up, we do expect buoyancy in the second half of the year as the office market has shown substantial quantum of absorption and this will have a positive impact on the residential market too”.

“Bengaluru Office market,on the other hand,continues to be bullish in its demand, accounting for the largest deal sizes in the country. However, dearth of ready-to-occupy office space is a concern as it is unable to catch up with the quantum of demand, and the depletion impacting on the interests ofpotential occupiers with large spacerequirements”.

Tally Set to Transform Business Taxation

Bangalore, India – July 30, 2015 – Tally Solutions, the premier Indian Software Product company, today announced the launch of Tally.ERP 9 Release 5.0, to help businesses in India address their most taxing problem, which is taxation.

With path-breaking technology of creating fully reconciled and triangulated tax returns, for Excise, Service Tax, VAT, and TDS/TCS – the new product release is designed to help businesses, their accountants and tax-practitioners, as well as taxation authorities, to quickly and easily match returns with actual data.  This will dramatically increase the compliance of businesses, and reduce the hassles faced by the authorities as well as businesses.

The product provides a hand-prepared tax generation experience to ensure that customers enjoy full visibility on the transactions used to compile the returns, thus helping them get the much needed confidence that their returns are filed with complete accuracy.

While most features in Release 5.0 are applicable for users across the world, and the Central Taxes (Excise, Service Tax, TDS/TCS) are for India, the VAT capabilities are being launched in an incremental manner beginning with 5 states in India namely – Karnataka, Maharashtra, New Delhi, Rajasthan and Tamil Nadu. Subsequent releases will provide the VAT return forms for the rest of the states, covering the entire country shortly.

“When we find businesses spending time on things which are not core to their business, we treat it as an opportunity for Tally to solve their problem.  Our legendary simplicity allows people to go back to do what they do best, while our technology takes this job over.  Ensuring that your books and returns are reconciled wastes time either during preparation of the return itself, or during scrutiny or assessment.  We believe the innovations behind our solution will go a long way to transform taxation for businesses,” saidBharat Goenka, Managing Director and Co-Founder, Tally Solutions.

St Martha’s Hospital Conducts Specialized Medical Camp for 60 Retirees of NLC

Bangalore, July 25th, 2015: The history of St Martha’s Hospital is rooted in the fact that it offers quality medical care to all those who come to them. For those who need a helping hand, St Martha’s has a track record of never turning a needy person away. In lines with this truly service-oriented character of the hospital, a free health check-up camp was conducted on the premises of St. Martha’s College of Nursing on the 10th of July 2015 from 8:30 am to 3:00 pm for the retirees of Neyveli Lignite Corporation(NLC) retirees. 

60 senior citizens attended by a team of well qualified doctors and nurses.The team comprised of 9 doctors, 3 nurses, 1 ECG technician, 2 ward aids, MRD technicians and other volunteers. Five clinics were set up ensuring the patients did not have to wait too long and could seek medical assistance based on the specific problem they may have. There were 2 clinics for medicine, 1 for ophthalmology, 1 for orthopedics and 1 for gynecology.

 A separate clinic undertook the ECG procedure for all those who required it. Multiple counters were set up for registration, measure of height,weight and blood pressure as well GRBS checkup. This smoothened the whole process and ensured that the patients were comfortable throughout the time they were at the camp. 

Speaking on the camp, Mr. Jayakar Jerome, Director of St Martha’s hospital said, “We have always been a hospital that is at the service of all members of society. We understand that senior citizens have specific medical needs and therefore tried to be as comprehensive as we could we could with this camp.”

Successful Bifollicular Hair Transplant with a Record 16,000 Hair Follicles by Hairline International

Bangalore, July 23rd, 2015: Hairline International Skin and Hair Clinic conducted a bi-follicular hair transplant of 16,000 single hair follicles on 23rd July. The entire procedure, spread over 7 hours was also telecast live via a webinar to medical professionals, dermatologist and potential hair transplant patients across the country.

This was the first of its kind transplant which made use of patient’s own hair from his scalp and beard combining both the FUE and FUT methods. This combination of methods helps achieve a denser look. The procedure was conducted by Dr Dinesh Gowda, Dermato-surgeon, Hairline International, utilized a bi-follicular unit wherein a family of two follicular units were transplanted two rows behind the frontal hairline. This was also implanted into the vertex and mid-scalp for a denser look.Usually only around 6000 hair follicles are transplanted in a single FUE session. But by combining the same with an FUE procedure of the scalp and beard, 16,000 single follicular implants were possible.

The procedure was telecast live with almost 2000 number of people logging in to view the procedure. Ramakrishna, a medical professional who watched the webinar said, “It is truly a great educational opportunity to be able to witness the procedure as it was being done. Besides being an innovative procedure, it also helped us understand how to work on bringing together to independent procedures to create something more effective.”

Speaking on the procedure, Dr Dinesh said, “There is an increasing demand among client for an effective means of transplant that is not too invasive, yet offers the maximum benefit in terms of coverage. We believe that with this combination of FUE and FUT, we will be able to provide hair transplant patients with what they need.”

“At Hairline, we believe in constantly innovating to help provide clients with comprehensive services that show results quickly. We decided to transmit this as a live webinar to share information as well as expose people in the profession to the several possibilities that may be around,” says BaniAnand, Founder, Hairline International.

Moncaro Winery talking to Key Distributors To Bring Award Winning Moncaro Brand of Wines to Karnataka

Bengaluru, Thursday, July 17, 2015: Moncaro, one of the most popular Italian wine producers and winner of many international awards, from the Marche region announced its plans to expand its footprints in the Indian market including expanding its presence in all the major cities in North and South India. Moncaro already has a presence in Maharashtra through its association with their Indian distribution company Riona Wines.

After creating a significant niche for themselves in the international wine market, Moncaro expanded its reach to China (one of their largest markets) through a joint venture in 2009 and today has over 15 flagship stores across all major cities in China. In 2014, Moncaro entered into a partnership with the Indian distribution company Riona Wines for retail in the state of Maharashtra.

Speaking about their plans for India, Mr. Doriano Marchetti, President of Moncaro and Partner, Riona Wines shared, “Moncaro is looking at India as a connoisseurs market. India is opening up to wine drinking culture and many people are opting for wine as an alternative to hard liquor. Indians know their wines very well and that has helped us to create brand image within a short span of time.”

Addressing a question on the wine consumption in India, Mr. Doriano shared, “Nearly 220 million cases of hard liquor is sold every year and over 250 million cases of beer is sold however, its only 1.7 million case of wine that’s sold every year with 1.2 million of them being Indian wines. India has always been a potential market for Moncaro and we are confident that the trend will change over the years. We have sold over 50,000 bottles in Maharashtra over the last 3 years and look forward to increasing that manifold in the next 5 years with a substantial reach across all other cities in India.”

Luigi Gagliardini – Export Sales Director, Moncaro, “Moncaro is happy to soon present Moncaro’s award winning wines to wine enthusiasts in Bangalore and Karnataka. Given South India’s retail strength of having over 56% of India’s liquor and wine retail stores and passion in opting for fine wines, such an foray is sure to be a connoisseurs delight to Moncaro and Wine enthusiasts alike.”

Mr. Enzo Mecella, Partner, Riona Wines added, “Not many are aware of the health benefits of drinking wine. Red wine contains antioxidants, helps in raising levels of omega-3 fatty acids and offer cardiovascular benefits. Moncaro’s aim is to combine the highest quality with the need to create a healthier product. Thanks to constant investment in R&D, Moncaro has been able to extend the wines’ longevity even with no sulphites, so much that the company is considering reducing sulphites in its entire product range.”

Mr. Mecella further added, “To educate the wine enthusiasts, we regularly conduct events through our tie-up with the hospitality groups to make them aware of the kind of wines and the kind of food pairings with the variety of wines.”

Answering the question regarding whether Moncaro will start their production in India, Mr. Doriano added, “At present, we are focusing on putting together our distribution network in place and are in talks with key distributors/liquor retail chains across the country and will be importing the wines from Italy.  We are however looking to partner with Indian wineries for bottling facility and production in the future. We will be concentrating on educating the Indian consumers on the various kinds of wines and wine etiquette through wine-tasting sessions, workshops. We are here for long-term and our focus is to provide quality and not to compete with any wineries.”

Some of the award winning wines wines to be launched and available in Bangalore soon are, Anfora (Verdicchio dei Castelli di Jesi), Le Vele (Verdicchio dei Castelli di Jesi), Elianto (Marcher Cabernet Sauvignon), Templi (Sicilia Nero D’Avola), Le Silve (del Parco Rosso Conero), Bel Colle Vino (da Tavola Rosso), and Tordiruta (Verdicchio dei Castelli di Jesi) Passito (Dessert Wine).

A Visual Treat of Live Blossoms – The Flower Show at Orion Mall Leaves Visitors with Some Beautiful Memories and Pictures!

Bangalore, July 18th, 2015:It took more than four days of hard work and toil to set up the mesmerizing flower installations at strategic points across Orion Mall. This flower show was between July 17th and 19th. Visitors walking through the corridors of the mall were greeted by larger than life flower installations made with real flowers.

Among the installations were an 8ft tall Flamingo and a 10ft tall butterfly, both of which brought the beauty of the flowers used to a three dimensional reality. A 7ft tall wristwatch in pink and purple with grass trimmings had folks stopping by in hordes. Two suspended Ambassador cars were decked with flowers making for a fantastic backdrop. Also present was an 8ft tall music trio, headphones, a wristwatch and stiletto measuring 10ft.

A range of colorful flowers with varied textures were used – some of them were Chrysanthemums in yellow, white and purple. Lillies in white, red, orange and yellow, Anthuriums in red and yellow, Birds of Paradise in red and orange, Orchids, Carnations, Roses, Gerberas, Tulips and a host of greens. To ensure that the installations stayed fresh across the three days, an elaborate self-watering system was set up in the wire frames of the installations.

Along with the installations was a special kiosk that was set up to sell a range of garden accessories, plants, flowers, pots, watering cans, etc. 

Mr. M.R Jaishankar, CMD Brigade Group receives Significant Achievement Award

Bangalore, July 08, 2015: Premier real estate developer Brigade Group’s Chairman and Managing Director, Mr M.R. Jaishankar, has received the Significant Achievement Award at the Vocational Service Awards Night organized by Rotary Club Chikmagalur. The award was given to Mr Jaishankar in recognition of his outstanding contribution in multifarious activities, able leadership and for being a real estate visionary par excellence. The award also recognises him as a role model to emulate. Commenting on the recognition, Mr Jaishankar said, “It is an honour to receive this award from Rotary Club Chikmagalur and it feels good to know that my contributions have made a positive impact in the lives of people.” Mr. M.R Jaishankar, as a young entrepreneur, established Brigade Group in 1986. The company’s very first project, Brigade Towers was the tallest building to be constructed by a private developer in Bangalore. Today, Brigade Group’s portfolio covers a wide range of projects in all domains of property development. Jaishankar’s leadership, commitment to quality and passion for innovation has enabled Brigade Group to grow from a single-building, small private enterprise to a diverse multi-domain, multi-city public limited company—a recognised leader in the field of property development.