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REAL ESTATE INDUSTRY Real estate is "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of real property; (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings or housing." The Indian economy currently stands among the world's fourth largest growing economy in terms of purchasing power parity and holds the distinction of being a key contributor to Asia's balance of payment surplus. Though after the market downfall it substantially got down even then people still invest in properties because the down fall is not for a long period of time. Indias GDP is estimated to be the third largest in the world by 2020. Indian Real Estate has huge potential demand in almost every sector. Real Estate can be divided into various segments

INDIAN REAL ESTATE SECTOR

RESIDENTIAL COMMERCIAL RETAIL SPACE

HOSPITALITY SPACE

SPECIAL ECONOMIC ZONE

The favorable demographics, increasing purchasing power, customer friendly loan facility are giving a boost to the industrial growth. The real estate prices have grown from 9.2% to 9.5%. With a boom in the economy the real estate prices have shot up in almost all the cities. Hence many are opting for housing loans to fund their housing needs.

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Why Invest In Indian Real Estate? Flying high on the wings of booming real estate, property in India has become a dream for every potential investor looking forward to dig profits. All are eyeing Indian property market for a wide variety of reasons:

Its ever growing economy which is on a continuous rise with 8.1 percent increase witnessed in the last financial year. The boom in economy increases purchasing power of its people and creates demand for real estate sector.

India is going to produce an estimated 2 million new graduates from various Indian universities during this year, creating demand for 100 million square feet of office and industrial space.

Presence of a large number of Fortune 500 and other reputed companies will attract more companies to initiate their operational bases in India thus creating more demand for corporate space.

Real estate investments in India yield huge dividends. 70 percent of foreign investors in India are making profits and another 12 percent are breaking even.

Apart from IT, ITES and Business Process Outsourcing (BPO) India has shown its expertise in sectors like auto-components, chemicals, apparels, pharmaceuticals and jewellery where it can match the best in the world. These positive attributes of India is definitely going to attract more foreign investors in the near future.

The relaxed FDI rules implemented by India last year has invited more foreign investors and real estate in India is seemingly the most lucrative ground at present. The revised investor friendly policies allowed foreigners to own property, and dropped the minimum size for housing estates built with foreign capital to 25 acres (10 hectares) from 100 acres (40 hectares). With this sudden change in investment policies, the overseas firms can now put up commercial buildings as long as the projects surpass 50,000 square meters (538,200 square feet) of floor space. Indian real estate sector is on boom and this is the right time to invest in property in India to reap the highest rewards.
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MUMBAI REAL ESTATE Mumbai is no way behind when it comes to a talk on property. The Mumbai real estate is in its growth orbit and attracts investors from major multinationals in the recent times. Such is the potential of the city's infrastructure that it is known to be spearheading most cities as far as property market is concerned. With Mumbai serving as the entertainment city, even the organized retail sector here is fast flourishing. Purchasing real estate in Mumbai requires a significant investment, and each piece of land in the city has unique features, so the property market in Mumbai has evolved into several different fields. Having the potential to leverage high returns, a large number of real estate projects are financed everyday in Mumbai. NRIs can shop for property in the city with the expectation of attaining an investment good, or with the purpose of utilizing it as a consumption good, or both. Mumbai is also the fashion capital of India, so it is one of the foremost cities to be hit by the retail buzz. With the opening up of the retail market, there has been a growing demand for retail properties in Mumbai. This has created a viable market for mall space and other retail stores and showrooms. These retail stores and malls are either owned by a business group or leased for hefty prices as the demand is high. The property prices as well as the increase in rental values in Mumbai owe much of its credit to the large scale investments in the commercial sector. Mumbai has always been the hot favorite for most of the corporate sector to have their headquarters in the city. And with increasing investments by MNCs in the IT, ITES and the BPO sector, there has been a growing demand for office space; which have consequently created an imbalance in demand and supply for residential properties. The rental values in Mumbai have also in high corresponding to that in other metros.

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NAVI MUMBAI- EMERGING COMMERCIAL HUB Even Indias leading conglomerates have taken up commercial space here. The state administration has already shifted wholesale commodity markets to Navi Mumbai. So, you have endorsements from different segments that Navi Mumbais commercial real estate is much sought after, he says. Suresh Haware, MD, Haware Builders concurs. Even at the nano end of the commercial real estate spectrum, demand is high, he says. It is the small offices and shops segment that have witnessed the highest demand at Haware Builders commercial projects in Navi Mumbai, he reveals. Today, industrial units in Navi Mumbai are relocating to locations in Raigadh district and commercial is the latest buzzword in Navi Mumbais real estate scenario, says Vijay Gajra of the Gajra Group. Commercial options in Navi Mumbai span a huge price band. Growth of the residential segment in Navi Mumbai, prior to that of the commercial segment, actually works out in favor of the end-user today, as manpower resources are easily available, he points out. Commercial real estate in Navi Mumbai comes at competitive prices vis--vis other options in the Mumbai metropolitan region (MMR), with the added advantage of being located in a well-planned city, adds Gajra. IT/ ITeS SEZs and businesses that have anything to do with rail/road transport and logistics or shipping, are proving to be the next big segment in Navi Mumbais commercial spectrum, shares Mayur Shah, honorary secretary, MCHI. Ramneek Bakshi, principal of global property consultants, LJ Hooker, points out that MNCs view India within the parameters of the Brazil, Russia, India, China (BRIC) equation. When they look at India as a business entity, Mumbai takes prime position. When they start looking out for space, Navi Mumbai, which forms the third level of real estate pricing, is attractive for MNCs looking to set up shop in the Mumbai region, he explains. At the Norwegian consulate in Mumbai, George Mathew, honorary consul general, concurs, If you look at real estate pricing trends in the MMR, Navi Mumbai fits the bill on many counts. However, the clincher is the price efficiency and developed infrastructure that Navi Mumbai provides, he concludes.

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2. HAWARE ENGINEERS & BUILDERS PVT. LTD.

2.1 Background & Inception Haware Engineers & Builders Private Limited was established & in 1994 and is registered with Registrar of Companies (ROC) as a private limited company under Indian Companies Act 1956. The company is a privately owned real estate development, construction and marketing company with offices in Navi Mumbai , Mumbai and Thane. The company ranks highest amongst the leading builders and developers in Navi Mumbai & Mumbai area. Our portfolio includes residential projects, commercial complexes, InfoTech parks, shopping malls, multiplexes and townships; more than 125 projects and 40 million square feet area in aggregate, along with hundreds of acres of residential and commercial land under various stages of planning and development. "The growth and effectiveness of the Haware Group is no small matter. We need to build an enduring and powerful organization made up of thousands of people who care" "Since our incorporation Haware Engineers & Builder Pvt. Ltd., has enjoyed unprecedented success. After more than a decade of year-on-year growth in excess of 50%, we are now one of the Mumbai's leading Developers. This growth has been achieved through maintaining our focus firmly on our customers requirement and by striving always to meet and exceed them.

Late. Mr. Satish Haware B. Arch. (Mumbai University)

The man behind Building Houses Building trust ..

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2.2

NATURE OF BUSINESS CARRIED

Group Activities 1. Building Construction 2. Building Advances Research Centre 3. Housing Finance, Other Finance 4. Car Finance 5. Material Test Laboratory 6. Technical Education 7. Media Advertising 8. Hotels Building Research Centers We have established a Building Advances Research Center to undertake continued research with a view to according you modern buildings with the efficient and state of art technology, amenities, infrastructure and earth quake resistant buildings. 1. Developing passively and climatically conditioned buildings 2. Providing innovative environmental control systems and concepts 3. Building diagnostic technologies 4. Solar energy utilization in buildings, solar heating techniques, cost benefit analysis of thermal energy 5. Reapplication of traditional architecture to enhance cultural and aesthetic values 6. Design of cost effective bricks /blocks 7. Enhancement of building life studies 8. Weather resistance treatment 9. Utilization of natural light and wind for human comfort 10. Efficient utilization of free space in the houses and so on.
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2.3

VISION, MISSION, COMPANY POLICY

VISION Engrosses not only those deserving houses in Mumbai and Navi Mumbai, but the entire nation......" MISSION We have a mission of providing houses to all. Our entire staff is motivated with this mission. Common man is our priority. COMPANY POLICY 10 Commandments Of Our Housing Philosophy 1. No hidden cost 2. Cost is Fixed i.e. No Escalation 3. Quality Construction 4. Timely Possession 5. Highest Reliability 6. Beautiful Elevation Design 7. Super Deluxe Amenities 8. Homely Relationships 9. Tension Free Schemes 10. Transparency Dealing No Hidden Cost and Fixed Cost System

Rate v/s Cost Of House: Normally it is observed that the buyers are RATE CONSCIOUS & not COST CONSCIOUS. It is the FINAL COST of which the buyer should be careful of rather than the rates. Many in todays property market take undue advantage of this rate consciousness of the buyer. Each of the above 10 FACTORS are associated with the cost. They do not appear in rates, but have

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influence on the cost of house. In fact they are Ten Commandments of todays Real Estate Market. Basically the land cost, development & other overhead charges and the construction cost are the three components deciding the rates. Break up of these will help removing doubts form the buyers mind. The land cost vary from place to place, whereas, the construction cost may not vary significantly. It is noteworthy that HAWAREs are following these commandments as their business ethics. Unreasonable rates quoted in the market are associated with the risk & unreliability, which creates confusion among the genuine buyers. Hidden costs & cost escalations are found everywhere; fixed cost system for housing, without escalations is the need of the hour. Again HAWARES have adopted fixed costs system for their projects. Reputed organizations including public bodies are found to have cost escalation built in their design. Housing schemes designed by Haware Engineers & Builders Private Limited are totally free from hidden cost and cost escalations.

.Quality Construction: Our foremost principle is no compromise in quality at all. Quality of construction at all our sites is ensured at three levels viz. 1. Material Level (all the building materials received at site including steel, cement, sand, tiles, bricks, etc are tested in standard laboratories before put into use), 2. Processing level (R.C.C casting procedures, proper mixing, mix design, cube tests, pile castingtesting, rock foundation tests etc.) & 3. Finishing Level (workmanship, aesthetics, utility, color schemes etc.) If any material fails the test, the whole lot is rejected and removed form the site. Once casted the quality of the concrete cannot be altered. Therefore utmost care is taken while doing so. Quality is the watchword at all our sites. These stipulations of Haware Engineers and
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Builders Pvt Ltd are strictly enforced through trained team of engineers at sites. Quality Document outlining the detailed procedures has been published by Haware, which is followed by the engineering staff at sites. Through rigorous exercises and international reviews, Haware Engineers & Builders Pvt. Ltd. has been awarded ISO-9001-2000 quality certification by American Quality Assessors.

Timely Possession: 'Our Commitment is Timely Possession' Like Quality, Speed of construction is very important from planning, designing, construction to finishing. Since concrete has its own setting behavior, unnecessary haste is dangerous. At the same time if time schedule is missed, cost escalation, interest on invested money; overheads can make the project unviable. For example if an amount of Rupees Four Lakh remains engaged against booking somewhere for a period of say 2 years, it is as bad as increasing the cost by around say Rs.72,000/-, which amounts to around 20% increase in the cost of a house or increase in the rates by say Rs.200/- per sq.ft. Our schemes are speedier ones. Within a year we complete the project and handover the houses. Some projects are completed even before this period, which really means saving in the cost of a house. Thus by getting timely possession, customers are saving on the cost of a house, which is our commitment, says Managing Director of the company. Haware Engineers and Builders Pvt Ltd are the unique examples that declare the possession schedule at the beginning of the year & handover timely possession that too in ceremonial way.

Highest Reliability: 'Reliability is Our most Priority' We have established 100% reliability. We value that the customer is investing his hard earned money in his dream house. Every paisa he has paid shall be fully utilized in realization of his dream house. This is an integral part of our housing philosophy. We do it very systematically. Our reliability has now become a time tested reality. We care for this single factor very much and see to it that the confidence level and satisfaction level of the buyers remains very high. Thus Quality, Speed and Reliability are our specialties and commitments to the customers.

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'We just don't promise, we perform 'Homely Relationship: We consider that the customer is a part of our family. We put our leg in his shoes and extend all the required help. What is most important of all these are that the relationship formed between the buyers & the sellers should be valued most. If it grows with time, the success of the project is ensured. The foremost important thing is that the buyer & seller have to understand each other & co-operate. Customer relation is the single largest factor for the long-term association with clients. Haware Engineers and Builders Pvt Ltd have maintained it and are experiencing widening of their customer base, day in and day out. New Customer coming along with existing customers is the common scene in our office and at sites. Thus we proudly say that We Build Houses and Homely Relations". Our customer care department is the testimony of this fact. We maintain our buildings even after handing over of the possession of houses. This is because we care and value our customers the most.

.Beautiful Elevation Design: With our own architectural expertise and experience, our buildings have been designed to provide abundant natural wind and plenty of natural light to each and every house. Space utilization achieved in our planning/designing of buildings is best and perfect. Not an inch is wasted. Beautiful building elevation design, aesthetics and attractive color schemes used provide richness to the buildings and environment. Many special items like balustrades etc. used for beautifying make our buildings unique. Our buildings stands out with pride in the surrounding locality.

Super Deluxe Amenities: All amenities provided in the house are of super deluxe category. Luxurious Spartex/Granamite flooring, Marble/Granite kitchen platform with best quality stainless steel sink, Aluminum sliding windows with jamb etc. Are added in each and every project of ours beside other amenities. Special scheme for best and optimized utilization of water has been
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the unique design in our projects. Separate water tanks for drinking water, general-purpose water and fire fighting water have been provided in this design. Recycling of used water for flushing purpose will not only save water but also reduce the expenses on water bills. This conservation of water will be of much help to the residents in a long way.

Tension Free Housing Schemes: A simple factor of Tension for 2 years may cause loss to 10 kgs. of weight & loss of active life for valuable 2 years. Tension influences the economics. Therefore schemes should be tension free & HAWARES housing schemes are totally tension free. Our customers relax and rest assured that they will realize their dream house well within the given time.

Total Transparency: We have maintained total transparency in all our dealings. Everything about the scheme is informed to the customer right in the beginning. Promise what is possible and fulfill what is promised has been our philosophy. All customers coming to us, experience the different and homely atmosphere. All our dealings are transparent.

One Window Scheme: We have established one window scheme wherein customers dont have to move here and there for anything related to the house. We extend our supporting hand to our customers to avail housing loan easily from a number of housing finance companies. Even we inform them the changes in finance schemes and rate of interest of various finance companies and help customer to select the cheapest and best housing loan option. Even for obtaining water connection, electric meter and power supply our customers rely on us. Since these are to be obtained from other public companies, it takes little time, but with our executive liasioning team the process is expedited.

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Innovative Schemes Of Water Harvesting: WATER HARVESTING: Research & Development division of Haware Engineers & Builders Pvt. Ltd. have developed a three tier system for new complexes, with 3 underground tanks each for flush water, drinking water & regular use water are available. This will lead to proper use of water, conservation of water & also will save up to 40% on billing expenses.

5 Solid Reasons to Buy a Dream House Now 1) Real Estate prices are all time low & good choice is available. 2) Easy availability of loans from many finance companies. 3) Increased amount of loan is available. 4) Interest rates are lowest in last 25 years. 5) Income tax benefits are very attractive.

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2.4

PRODUCT & SERVICES Residential

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COMMERCIAL

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2.5

AREA OF OPERATIONS

Area: Fantasia Business Park, Vashi Navi Mumbai, Near Railway Station Designation: Client Servicing Agent Lead Generation Direct Marketing in Commercial Complex and Residential Complex Back Office Calling Analyzing the factor effecting buying behavior

Area: Centurion Business Park, Seawoods Navi Mumbai, Near Railway Station Designation: Client Servicing Agent Lead Generation Direct Marketing in Commercial Complex and Residential Complex Individual Leasing & Corporate Leasing

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2.6

OWNERSHIP PATTERN HAWARE ENGINEERS AND BUILDERS PVT LTD PVT. LTD.

The ownership pattern of Haware Engineers and Builders Pvt Ltd is in the form of Private Limited Company. All the Business Operations Decision which is of utmost importance is handled by Suresh Haware (MD). And rest decisions are taken subsequently with the help of family members. For marketing purpose they have In House Marketing (Haware Builders) and an outsourced Private entity named Alliance Property Consultants which is led by Rajesh Ruparel and Team. There are separate departments in Haware Marketing Department which are Commercial Team, Residential team and Land Acquisitions & Sales team.

Name of Person Suresh Haware Smt. Ujjwala Haware Sanjay Haware Pravin Haware B.Tech

Qualification

Designation Managing Director Chairperson Executive Director Director

Architect B.E.(Mech)

ALLIANCE PROPERTY SERVICES LTD. Alliance Property Services Ltd. Mainly deals in Commercial and Residential which deals mainly with Investment or Occupancy in Residential and Investment, Occupancy and Corporate Leasing in Commercial Real Estate. HAWARE CONSTRUCTION ALLIANCE PROPERTY SERVICES LTD.

RESIDENTIAL

COMMERCIAL

INVESTMENT

OCCUPANCY

INVESTMENT OCCUPANCY CORPORATE LEASING

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2.7

COMPETITORS INFORMATION

Top 10 Competitors 1.Arihant 2.Progressive builders 3.Akshar 4.Bhumiraj 5.Goodwill developers 6.Adhiraj 7.Mahaavir 8.Swaraj builders 9.Shah group 10.National builders

Difference Between Haware Builders and Rest of Competitors Haware Builders 1 Location Business Complex & IT Park Located Railway Station Commercial Navi Mumbai i.e Vashi & Seawoods In-House + Alliance Property (Marketing Partner) 5 %Less than the Market price Pricing And Lowest rentals in Navi Mumbai 5 Booking , Maintenance & Management Management office @ every complex Booking Office Competitors Located near Proximity Area and reach and not near Railway Station Commercial + Residential

Pattern

Partners

In-house Marketing

Market Price & Comparatively higher Rentals

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2.8

AWARDS AND ACHIEVMENT

Yashasri Puraskar Certificate From Maharashtra Times

Glory of India Award-Delhi Mr.Amit Haware receiving the Glory of India award on behalf of Mr.Suresh Haware

International Excellence Award

Entrepreneurial Excellence Award Brihan Maharashtra Mandal, New York(U.S.A.) have conferred on Mr. Satish Haware a prestigious award viz., Entrepreneurial Excellence Award in a conference held at New York, USA on 3rd July 2003. Click here for details.

Shree Gaurav Award To Suresh Haware by Navi Mumbai Council

National Level Udyojakta Award Mumbai: Chief Minister of Maharashtra Hon. Shri. Vilasrao Deshmukh honored M/s. Haware Engineers & Builders Pvt. Ltd. for outstanding Achievements. They have handed over possession of large number of houses in Navi Mumbai and served the society with its
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basic need of housing in this hour of recession. They have successfully implemented many of the customer friendly schemes. He conferred Renowned Architect and Managing Director of M/s. Haware Engineers & Builders Pvt. Ltd. Shri. Satish Haware with the prestigious National Level Industry Award of Jagtik Marathi Chamber of Commerce and Industries, in a function held recently at Y. B. Chavan Center in Mumbai.

Shilpakar Gaurav Award Architect Shri. Satish Haware (M.D.) received Shilpakar Gaurav Award for Haware Engineers & Builders Pvt. Ltd., for outstanding contribution in Housing Industry in a function held at Kolhapur.

Award of Excellency to Mr. Suresh Haware by the Saturday Club Mr. Suresh Haware, Managing Director, Haware Group of Builders & Engineers Pvt. Ltd. was presented the The Award of Excellency at an International Conference organized by the Saturday Club. Executive Directors of the Saturday Club and prominent business personalities graced the event on Saturday, 5th January 2008 along with Mr. Vinay Kore, Minister of Unconventional Energy Resources.

Best Stall Design - Builders Association of NaviMumbai 8th Property Exhibition 2007

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Nirmiti Awards to Mr. Suresh Haware by Rotary Club International

Haware Builders & Engineers Pvt. Ltd. won the Artists in Concrete Awards 2008 organized by Loksatta & Reify Projects Pvt. Ltd. Mr. Suresh Haware, Managing Director, Haware Builders & Engineers Pvt. Ltd receiving the Artists in Concrete Award for the Beat Commercial Premises in Mumbai from Mr. Jayant Patil, Finance Minister of Maharashtra, Mr. Kumar Ketkar- Editor, Loksatta and Arch. Shahshi Prabhu.The Event was held on 17th February 2008 at The Renaissance, Mumbai.

ISO 9001-2000 Certified Haware Engineers and Builders Pvt. Ltd., is a ISO9001-2000 certified company.

CSR ACTIVITIES: State Presidents- The Maharashtra Builders forum Participated in Baba Amtes Bharat jodo Abhiyan as Navi Mumbai In charge. Maharashtras Rural and Urban Slum Settlements establishes Haware Real Estate Academy 5 Labour schools and 7 mobile dispensaries for welfare of constructions workers and their families. Donated 5 ambulances to NGOs. Active in save Trees campaign and beautiful city drive Initiated starting 502 bus routes for Vashi Sanpada residents. Round the clock work and efforts and always in the forefront in the social education cultural field for residents of Navi Mumbai

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2.9

WORK FLOW MODEL

SALES PROCESS The promise of customer-driven innovation is quite compelling and the management of relationships with prospective buyers and existing customers warrants a solution to: Maintain the client database with a 360 degree view of each customer Keep track of reservations and inventory availability in real time Keep the property portfolio up to date with data on new developments Get relevant, accurate and timely information at a moments notice Easley create & issue property transaction related documents transaction related documents

3. Automatically manage all communications with the customer from inquiry to

possession and beyond.

Sale Process Cycle Follows through these Process

1. Leads 2. Follow Up 3. Booking For Sales 4. Approve For Sale 5. Other Unit Activity 6. Collection 7. Receipt 8. Payment 9. Complaint Management

Which can be diagrammatically be represented as follows

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Sales Process Cycle Leads

Follow Up

Booking For Sales

Approval For Sales

Other Unit Activity

Collection

Receipt

Payment

Complaint Management 1. Leads Generating new leads and obtaining leads from the organization. Not only the sales and marketing departments helping generation the leads but also the finance and human recourse department takes an active part in lead generation, since the prospects are difficult to find within the potential customers. Some leads are taken from the database which is outsourced by 99acers.com, makan.com websites and also walk-ins on the site. 2. Follow Up After generation of lead comes the follow-up. 78% of the companys sales are done only because of continuous follow-ups with the potential clients. Once the client shows interest in the project than the sales person has to be in constant touch with client so as the client do not deviate to any other sources.
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3. Booking For Sales After the constant follow-up and when the client gets interested in buying or leasing of property the booking amount is taken from them and generally the booking amount is 10% of the total value in term of sale and Rs 5000 in case of leasing but mainly it depends on what property he is interested on. 4. Approve For Sale Booking of sale only ensures that the buyer of the property is very much interested in buying and leasing the properties but there are at times chances that buyer changes his decision. This stage approve of sale finalizes the buying process. 5. Other Unit Activity Other unit activity involves documenting the sales, preparing notary or registering the sale with the registrar. And paying of property tax by builder and buyer equally. If it is a lease agreement, than arranging meeting of owner and the tenant, fixing brokerage. In case of payment through banks i.e. loan all documents are given to the buyer which helps him to get loan easily. 6. Collection After meetings and documentation work the possessor has to clear all the dues which are committed and in case of loan has to clear all the procedure and pay up the decided amount in case of leasing. 7. Receipt & Payment Receipt and payment goes hand to hand. After collection is over comers receipt, this includes transfer of ownership in case of sales or transfer of possession in case of lease. Receipt of property tax and other related payment receipts are also handed over to the buyer. And the same property tax is been paid to the buyer or possessor. 9. Complaint Management After the entire procedure if the client is facing any problems may direct report to Head office or may write up on the online website portal and a quick action would be taken in case of sensitive issue in any delays.

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3.

MC KINSEYS 7S FRAMEWORK

Explanation of each element:1. Structure: - Structure is the way the organization is constructed and who report to whom. 2. Strategy: - Strategy is created to maintain and make competitive benefit over the competition. 3. Skills: - Skills are the actual skills of the employee who are working for the company. 4. Style: - What style of leadership does the organization adopts. 5. System: - In system the daily activities and events that staff members join in, to get the job done. 6. Staff: - In staff employees and their general capabilities are included. 7. Shared value: - Shared value is also called super ordinate goals. These values are the centre values of the company that are evidence in the corporate culture and the general work.

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McKinseys 7S Model relating to Haware Engineers and Builders Pvt. Ltd. 3.1 Structure:-

Haware Engineers and Builders Pvt. Ltd. has an organization structure that implies Centralization of authority at the top Departmentalization of jobs Hierarchy of command Narrow span of control Intense division of labour.

This type of structure provides a clear and well defined work setting to its employees. Responsibility of top management in Haware Engineers and Builders Pvt. Ltd Empowerment of people Building excellence throughout the organization Open and transparent communication Setting up of performance management system Motivate the managers

Following are the departments in Haware Engineers and Builders Pvt. Ltd.

HAWARE BUILDERS

HUMAN RESOURSE DEPARTMENT

PROCUREMENT DEPARTMENT

FINANCE DEPARTMENT

ENGINEERING DEPARTMENT

LEGAL DEPARTMENT

MARKETING DEPARTMENT

Architecture Department

Electromechanical Department

Civil Department

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3.2

Strategy:-

It is a coherent set of actions at gaining a suitable advantage over competition, improving positions and allocating resources. The main strategy is to ensure maximum utilization of available resources. For this purpose the company believes in promoting from within the organization, thereby encourage its people to strive for higher management stability. The set up also allows them to take the advantage of common pool of technical, marketing and finance talent of the highest quality. Haware adopts the following other strategy. 1. Avoiding the Intermediaries. During the sales activity of commercial and residential units whenever a broker approaches with his clients, while dealing with the broker, We ( Haware Sales Person) try to get in direct touch with the Brokers Client in order to cut brokers brokerage, we directly approach client. 2. Maintaining and improving quality All the blocks at every property are regularly scrutinized and maintained. Every Complex of Haware Builders has Maintenance Department where in People are appointed to take care of the clients and their problems. 3. Business intelligence Every Employee of Haware let it be from Finance or Human Resource Department they all have been trained and given insight about the Real estate market and the present scenario of the projects, thus helping them to grab each and every opportunity of sales and getting rewards for the same. 4. Long standing client relationship We at Haware Builders maintain a long standing relationship with our clients and look forward for servicing them at par in order to make then satisfy with what they posses. We help them in registering and notary facilities.

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3.3

Skills:-

One of the important attributes or capability possesses by the organization are skills. The term skill includes those characteristics or strength which most of people use to describe the company. The company believes that human resource is the single largest factor responsible for more effective utilization of all other resources. The following are skills possessed by Haware Engineers and Builders Pvt. Ltd. 1. Communication skill and technical skills 2. Initiative 3. Interpersonal skills 4. Analytical skills 5. People sensitivity

3.4

Style:-

Haware Engineers and Builders Pvt. Ltd believes to have a Charismatic Leadership style This depicts from their own MD Suresh Haware, who is a member of the Bharatiya Janata Party (BJP) from the Belapur constituency. He was a nuclear scientist till he became a politician. President of Navi Mumbai Real Estate Organization, with such diverse background and a huge fan following. At Haware believe in Charisma of the person which could easily attract others and gets work done rather more easily.

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3.5

System:-

System refers to the organizations methods that are used for the flow of information from one department to other department. Haware has an adequate system of internal control designed to provide reasonable assurance on the achievement of the objective relating to efficiency and effectiveness of operation, reliability of financial reporting. There is a system compliance to follow rules and regulations and for safeguard of assets. Maintain the records and documenting each and every Purchase done by the clients at any of the complex and recording the same in the respective property file. There is a particular chain which the employees of the Haware Builder have to follow, Following is explained with the help of the diagram. 1. Whenever any executives get the information of Sale, Purchase, Barren Land, Tender, notices, Corporate Franchising Space by their respective sources. 2. They need to record it in the Secure Data Exchange System so that whenever any other employees wants to know the information, he can simply log in for the details pertaining to Market Site & Selection, Design & Construction or Facility management done by the executives. 3. If the executive uses the information and comes to know about more information he/she may update the same information for further reference. 4. Design & Construction details are worked with Landlords, Franchisees & Partners 5. Facility Management is done by Brokers & Attorneys 6. Market/Site Selection Consultants & General Contractors

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3.6

Staff:-

The company is accommodating various employees, they comprise of staff, workers and trainees. The people in organization are very dedicated and work towards the improvement of the organization. Steps after recruiting an employee is done in following manner. 1. 15days real estate background training 2. 1 month field supervision and site study ( can be extended) 3. 1month direct counter selling (for employees other than Sales department) 4. 15days documentation and leasing study. 5. 1 month Department wise training (On Job & Off Job training) 6. Full time work flow and training evaluation

In this way 4 months period is dedicated to brushing the new employee no matter which department is he in he has to go through this procedure.

3.7

Shared Values:-

Intensity to win Make customer satisfy Team, innovate, excel

Act with sensitivity Respect for the individual Thoughtful and responsible

Unyielding integrity Delivering on commitments Honesty and fairness in action

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4. SWOT ANALYSIS

Strengths 1. Infrastructure in place 2. Location is suitable 3. Very focused Management 4. Well Rounded and Managed Business

Weakness 1. Focus may be too narrow 2. Lack of awareness among the perspective customers 3. Absence of strong sales and marketing expertise

Opportunity 1. Market Segmentation is poised to rapid growth 2. New Market offer great potentials 3. Potential to Diversify into great market segment

Threats 1. Economic Slowdown could reduce the demand 2. Market may become price sensitive 3. Major player may enter targeted market segment

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Strengths and Weakness relates to the internal environment of Haware Builders whereas, Opportunities and Threats are related to the external environment of Haware builders i.e. the The Real Estate Market as a Whole.

This can diagrammatically represented as given below

INTERNAL ENVIRONMENT

EXTERNAL ENVIRONMENT
Diffe

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5.

GENERAL INTRODUCTION

Meaning: Real estate is land, all of the natural parts of land such as trees and water, and all permanently attached improvements such as fences and buildings. Objective Of Real Estate Industry: To create value by developing land or land with attached structures to sell or to lease or by marketing real estate parcels and interests. Purpose of Real Estate: People use real estate for a wide variety of purposes, including retailing, offices, manufacturing, housing, ranching, farming, recreation, worship, and entertainment. Real estate is a broad term refers to: Residential new homes and existing (resale) homes, Commercial shopping centre and offices, Industrial and manufacturing buildings Vacant land and farms. Housing, land, commercial, property

People Involved In Real Estate Industry: 1st Circle Landscapers 2nd Circle Designers 3rd Circle Market Researchers Developers 4th Circle Appraisers Financial Analysts Construction Workers 5th Circle Sale Personnel Leasing Personnel Managers 6th Circle Office Support Workers Building Maintenance Workers Grounds Maintenance Workers

Abstractors

Engineers

Architects

Surveyors

Attorneys

Indias real estate market is on a high growth curve. The industry is projected to grow to US$60 billion by the end of FY2020 at an average rate of 20%. Looking at the bigger picture, the recession seems like a hiccup. Despite talks of price correction, the worse is definitely behind us.

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6.

OBJECTIVE OF STUDY

1. Understanding the elements which influence the Real Estate Industry. 2. Understanding the Difference between Residential & Commercial Products 3. Understanding the difference between Corporate & Individual Leasing 4. Understanding the Sales Process in Commercial Property 5. Understanding Lease Process of the Commercial Property

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7.

LEARNING EXPERIANCE

uring My internship with Haware Engineers and Builders Pvt Ltd first week I was given Job to analyze the Real Estate Market of Navi Mumbai and to understand the complete Navi Mumbai Market and factors which influence the

buying pattern in Commercial Property in which I learnt following things.

Key Learnings

1. Factors that affect Real Estate Industry 2. Experiencing live Interactions with Clients 3. Initiated new Idea of Advertising 4. Documenting the Agreements, notary, Leave & Licensing. 5. Tackling the Brokers. 6. Essential requisites to close the deal

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1. Factors which affect the Real Estate Industry.

i. Economic conditions ii. Demographics iii. Transportation iv. Management expertise v. Government regulations vi. Climate vii. Topography Factors Influenced by Nature. Factors Influenced By Human Being.

A. Factors Influenced By Human Being (Man Made Factors) i. Economic Condition Economic condition influences the Real Estate Market, as Real Estate Market do depend on the Purchasing power of the Individual sometimes the purpose is sheer Investment and sometime the purpose is of Occupancy. Investment would be done by those individuals who have more Disposable Income, disposable income generally comes through savings done on past. If during Inflation where in all the prices of general product rises the disposable income gets reduced indirectly affecting the Purchasing power of the individual and vice versa. Occupancy would be done by those individuals who have been relocated, expanding, business purpose. If individual who wants to buy a 1000sqft with a budget of 75, 00,000 INR or 50,000 INR (Purchase & Rent resp.), during inflation wherein his savings are reduced and also the prices of the Real estate rising will minimize his budget and also would now will be wanting to buy area of 750sqft.

ii. Demographics Demographics consists of factors such as a. Age b. Gender c. Culture, Religion. d. Taste & Preferences

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a) Age:- The Purchasing Power of a working young individual would be higher as compared to the retired person. The mentality would also vary in taking decision even if the purchasing power would be same e.g. given 80,00,000INR to A who is 30year man working as a manager in a nationalized bank will want to buy a New House in metropolitan city where in he would get all things what he need. Where as if same amount given to B a 65year old retired businessman will buy a House in a remote area thinking about his health due to pollution. b) Gender: - Real Estate is influenced by the Gender factor when the decision of buying /leasing a house (residency) is there female would come forward in taking the decisions whereas male would accompany them. Meanwhile while buying commercial plot on rent or purchase male would dominate the decision making. c) Culture, Religion:- Real Estate Market is influenced by this factor e.g. If the Property is built near a Mosque (Masjid) the target potential customers to be tapped would be Muslims, vice versa.

iii.

Transportation Proximity to nearby mode of transportation will give a advantage to the Real Estate Property, proximity to railway station, bus station, highway, or road crossing.

iv.

Management Expertise Real Estate Property gets influenced by Managers who manage the property, it is

through

ability and skills how he convinces the people and converts potential

customers to buyers.

v.

Government Regulations Government regulations also influences the Real Estate Market, if the Taxes which are imposed by the government goes down the individual saves his money and thus increasing the saving and meanwhile increasing the Purchasing Power.

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B. Factors Influenced By Nature. i. Climate Climate being a natural Factor influences the buying behavior of the individuals and also the real estate companies, e.g. the area in which property is based if in temperate zone or area which is cool humid with moderate rainfall is always given a first preference and also adds up to propertys appreciation rate.

ii. Topography Topography includes land mass whether the area is plain, plateau or a hilly region, as depending on that the prices of the real estate vary

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2. Experiencing live Interactions with Clients

While working as a field executive at Seawoods I had many interactions with my walk-in customers and the major observation I noticed that most of my walk-in clients were more interested to buy property for investment purpose as while further knowing on this that Seawoods area there was an L & T Corporate project coming up with 36 corporate towers and 3 shopping complexes with investment upto Rs. 20,000 crore. This factor led the walk-in clients to put in their hard earned money in a business complex which had nano shops ranging from 200sqft to 2000sqft for investment purpose since they had forecasted a growth in Seawoods. Many of my clients were from the same area and few of them were from the NRI Complex which was near to the Centurian Mall of Haware Builders amongst them mostly were Guajaratis and marwadiss While dealing with the clients which were not from the same area I used to update them with the recent developmental changes that are taking place in Seawoods and the rising costs in real estate comparing market price and our business complex prices. Even I tried to induce people in buying rather than leasing it as leasing wasnt that profitable for my company than selling the units. Many a times I had bad experience as coming to the pricing part each floor had a different price and the price reduces as we goo to higher floors and also the room negotiation on the top floor decreases and also top floor has attached terrace, hence I targeted the top floors to Libraries book centers and offices which would like to work in isolation.

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3. Initiated new Idea of Advertising

During my Internship I, had planned out a new way of advertising the Real estate Products, i.e. in a way of GREETING CARDS, thats right as I figured it out that generally purchasing and leasing of Commercial or Residential are taken by a male member of the Firm or Family. So if I directly inform the male member of the respective houses my Marketing work would rather be easy. Hence I figured it out how would I communicate my real estate products to my potential customers. If at all a Kid brings something for his/her Father lovingly, the father would take it happily and would try to figure it out what his/her kid has brought. This idea hit me and during my internship Fathers Day was to come so guess what we thought A HAPPY FATHERS DAY GREETING CARD with all the Haware Products Printed on the backside with the companys marketing details which would be given to all the school and college going students to gift their Fathers A GREETING . This was the Advertising Method opted by me but to a limited market area i.e. only Seawoods Area and not in Vashi as the main reason in Vashi was lack of Human Resource like marketing executives and field executives. And if at all this strategy went good there would be high walk-ins and few executives to attend them.

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4. Documenting the Agreements, Notary, Leave & Licensing. This was the crucial part and very important part as documents provide legal evidence during any disputes. Documents such as

Quotation of Corporate Leasing, Corporate Leasing Requirements, Letter Of Intent and Individual Leasing Agreements

These documents are very important from Real Estate view point and acts as a proof and have to be maintained by both the parties.

On buying the Plot by an individual he has to register it with the Plot register department which is in Koparkhairne, Navi Mumbai. Registration in leasing is not compulsory, registration is costly and many a time Notary is preferred by tenants as it is relatively cheaper. Registrations charges are to be shared between the owner and the tenant incase of leasing. I have attached below my work done in corporate leasing with to Major MNC company 1. MC Donald 2. Decathlon Sports India Pvt. Ltd For Mc Donald we had invited them to inspect our location and expand their branches in Seawoods, the concerned person inspected and gave a clean chit and than we had forwarded the quotation of renting the space For Decathlon Sports India Pvt. Ltd, which is a leading sports brand of France now operating only in Bangalore wanted to expand in Navi Mumbai area. They were interested in Vashi Fantasia Mall where in they had closed the deal catering 50,000sq ft

Attached below is the specimen of

1. FORMAT OF SENDING THE QUOTATION OF LEASING 2. FORMAT OF REQUISITES REQUIRED BY THE CORPORATES 3. FORMAT OF LOI ON ACCEPTANCE OF LEASING AGREEMENT 4. FORMAT OF INDIVIDUAL L & L AGREEMENT OF LEASING
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(FORMAT OF SENDING THE QUOTATION OF LEASING) Haware Builders Pvt. Ltd C-100,Sector-17,Vashi Plaza,Vashi Navi-Mumbai Tel: 9820029887 / 9820047663 / 9820060887 To, Saurabh Kalra Mc Donalds India Subject: Offer for giving shops on rental basis at Centurion Complex Nerul-Seawoods Sir we introduce ourselves as sole marketing and transaction agents for project centurion all sale and lease transaction are rooted thru us by virtue of mandate given by Haware builders. As per our final talks and your personal visit on site at centurion, we give you following area as per your requirement Shop G-09A G-09B G-09P Total Carpet 769.09 sft 769.09 sft 400.42sft 1938.60 sft Location Front Road Facing Front Road Facing Atrium Facing Rental Rates (Negotiable) 150/sft 150/sft 120/sft

Rates for the front shop would be constant for atrium facing shops Minimum guarantee or 14% of sales whichever is higher Deposit is expected 6 months of the rental subject to final Negotiation. Term: 3years and above (with Lock-in Clause of 3Years from both the sides) as may be required, Leave and License agreement subject to final negotiation and escalation 10%p.a. Other Terms and Conditions: Service Tax and any other tax applicable payable by Lessee. Stamp Duty and Registration Charges 50:50 Expect a positive revert at earliest Thanking you Yours faithfully For Haware Builders Pvt. Ltd. (Rajesh Ruparel) 9820029887 (Aditya Upadhyay) 9870498667
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(FORMAT OF REQUISITES REQUIRED BY THE CORPORATES) Hardcastle Restaurants Pvt. Ltd. (HRPL) requirements for setting up a McDonalds Family Restaurant

1.

Description of the premises:

The Owner shall own / possess a property admeasuring approximately 3500 square feet carpet area, at the ground floor level or a combination of ground and first floor. The property should have a frontage of approximately 40 feet minimum. The ideal property should have a provision of approximately 4 car parks exclusively for HRPL.

2.

Term and Type of the Transaction:

The duration of the agreement would be for 25 Years and on Conducting of Business Arrangement basis. 3. Following are HRPLs Requirements at the premises:

The Owner shall, at its own costs, carry out the following works (Part A and Part B):

Part A: I. Flooring and Skirting: As per specifications of HRPL-

II.

Dado Tiling: As per specifications of HRPL

III.

Faade: Toughened glass faade with fixed glazing having 12mm thickness.

IV.

Drainage: Grease trap and Independent drainage conjnection from the said premises to the main sewer of the relevant Municipal Authority.
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Part B:

I.

Water Tanks: Install two nos. water tanks of 10000 litres capacity each, one under ground / floor mounted break tank and one overhead water tank. The Owner shall ensure a regular independent supply of 15,000 litres of water per day to HRPL.seperate water meter and line to be provided by the owners

II.

Electric Power: The Owner shall provide cables for supplying electric power at the said premises of 200 KVA Low tension (LT) from the Utility Company. HRPL shall be charged at the subsidised rate of LT Tariffs of the Utility Company for the electricity consumed, at actuals, in the said premises. Separate meter and connection to be provided by owners. The Owner shall, at its own cost, get the said premises approved as a Restaurant from BMC. All outgoings with respect to getting BMC approvals required for the said premises shall be borne by the Owner. The Owner shall, at its own cost, get the licenses required for running the QSR including the Eating House License. Renewal fees for the said licenses shall also be borne by HRPL. To be borne by HRPL Open Spaces, Car Parks and Signage rights:

III.

IV.

4.

I. Space for installation of utilities: The Owner shall provide adequate space, as per the requirements of HRPL, with relevant NOC / permissions from the society / landlord, for location of the following utilities: a. Chimney and exhaust system on the terrace of the said building. b. Gas bank in the compound of the said building. c. HVAC units and condensing units on the terrace/compound of the said building. d. Pump room and chlorinating system on the terrace/compound of the said building. e. Garbage bin in the compound/basement of the said building. II. Car Parks: The Owner shall provide exclusively for HRPL a minimum number of 10 car parks.

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III. Signage: The Owner shall permit HRPL to put up signage along the demise of the said premises. The Owner shall also permit HRPL to install an independent pole sign in the open area in front of the premises allotted to HRPL as also a pole sign on the top of the terrace of the building.

5. All property taxes, municipal taxes, assessment, levies (present &future) to be borne by the Owner. 6. All outgoing with regards to the business of QSR will be borne by HRPL.

7. Termination
HRPL can terminate the agreement by giving six months notice in writing. Owner will have the right to terminate, only on the following grounds: a) b) Conducting Fee not paid by McDonalds for continuous period of two months, with one month cure period. Tenancy claimed by McDonalds.

8. Fitment Period
120 days rent free period for fitment 9. Documents to be signed: a) Conducting of business agreement for 25 years. b) Limited /Special Power of Attorney to be given by the Owner to HRPL for permissions. c) Declaration by the Owner in favour of HRPL.

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(FORMAT OF LOI ON ACCEPTANCE OF LEASING AGREEMENT) Letter of Intent (Annexure I) The Manager, Hawares Fantasia Business Park, Plot no. 47, Sector 30A, Vashi, Navi Mumbai - 400705

Subject: Letter of Intent (LOI) for your property Decathlon worldwide is a sports equipment and sportswear retail company. Decathlon has over 600 retail outlets, mainly in Europe with a work force of over 50,000 people worldwide and its a part of Oxylane Network. Decathlon Sports India Pvt. Ltd. is its wholly owned Indian subsidiary company. Our mission is to make accessible the pleasure of sports to more Indians with the best value for money possible. We are interested in taking the subject property on license to run our Wholesale Cash and Carry store with auxiliary services. The details of proposed transaction are covered in the LOI and its annexures. This LOI is subject to title clearance of your property and approval of our board and other conditions specified in the LOI.

Thanks and Regards, For Decathlon Sports India Pvt. Ltd

Jeremie Ruppert Regional Manager Maharashtra

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This letter of intent is executed on this ___day of June, 2012. Licensors Representative Hawares Fantasia Business Park, Plot no. 47, Sector 30A Vashi, Name & Address Navi Mumbai 400705 Hereinafter referred to as Licensor. (Proof of Registered Agreement authorizing the representative to sign up with the Licensee on the terms and condition of this LOI on behalf of all the Licensor) Manager - HawaresFantasia Business Park Mr.Rajesh Ruparet-98200 29887 Ground floor of the building in property bearing Plot No.47, sector 30A , Vashi, Navi Mumbai.

2 3

Contact Person Description of the Schedule Premises (property being license d)

Store Area

Total area admeasuring 15087 Sq/ft of carpet area on the ground floor .However the actual measurements will be done jointly before signing the license leave and license deed. Also 7907 sq/ft of common area abutting the store area, at no additional cost. Refer Annexure II for the Architecture plans clearly demarcated.

Play Ground Area

Total area admeasuring 12234 sq/ft of Atrium Area of the building as per the attached master plan (Refer Annexure-II) at no additional cost. . 75 reserved car parks clearly demarcated in the first level of basement of the schedule premises will be at no additional cost of licensee. Ground Floor.

Car Parking Guarantee

7 8

Floor Level Licensee Address Name &

Decathlon Sports India Private Limited, a company incorporated under the provisions of the Companies Act, 1956 having its registered office at TATA Housing Xylem, Plot no 4 and 4(A), Dyavasandra Industrial Area ITPB Main Road, | Whitefield, Bangalore - 560 048, represented by its Regional Manager, Maharashtra, Mr. Jeremie Ruppert. Wholesale Cash and Carry or Retail of Sports Goods and business auxiliary & related services in accordance with
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Nature of Business

applicable law. Commercial & Leasing Terms 10 Date of Possession of the Upon signing of leave and license deed and receipt of security building. deposit there under, the Licensor shall hand over vacant possession of the property on as is where is basis.

11

License Tenure

5 years from the license commencement date, and renewal for further periods of 15 years (3 terms of 5 years each) as per the same terms and conditions as per the initial Leave and License deed. Further, the Lessors will neither have the possibility to refuse the renewal at the end of every 5 years, nor to modify the condition of the leave and license deed. Both the parties will execute fresh leave and license at the end of each term.

12 Lock-in Period

3 years from the rent commencement date

13 Interest Free Refundable Rs. 6975000/- (Rupees sixty nine lakhs seventy five thousand Security Deposit only) equivalent to 3 months of rental. (Deposit shall be paid at the time of execution of the leave and license. No amended OC is required for demolition of partition wall between the shops certificate to that effect from the registered architect shall be provided). Upon expiry or earlier termination of the Leave and license deed, the Licensor agrees to repay the security deposit to the Licensee simultaneously on handing over of vacant possession of the licensed premises after deduction of amounts due to the Licensor from the Licensee in terms of the leave and license deed. In the event the Licensor fails to refund the Security Deposit, the Licensor shall be liable to pay interest thereon at the rate of 18% percent per annum from the date of expiry or termination and the Licensee being willing and able to hand over vacant possession of the Schedule Premises, as the case may be, up to the date of complete repayment. The Licensee shall also be entitled to hold back possession of the licensed Premises without paying any rent until the entire Security Deposit and applicable interest if any, less any deductions is refunded in terms of the leave and license deed.

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14 Rent for Premises

Scheduled Rs.23,25,000- per month (Rupees Twenty three lakh twenty five thousand only) on a lump sum basis. Service tax will be additional and borne by the Licensee as applicable under law. Maintenance charges shall be paid by the licensor to the developer.

15 Rent Payable Date 16 Rental Escalation 17 Rent Free Period

On or before 10th day of every month in advance. 15 % once every 3 years on the last paid rent. 150 days /5 months after the date of handing over of the vacant possession of the building on as is where is basis or from the date of store operation commencement whichever is earlier. The Licensor & Licensee will undertake the following activities. 1) The Licensor to provide all requisite documents for title clearance within fifteen days of signing the LOI.. 2) Registered agreement of authorization by the various landlords to one representative/person. 3) The Licensor to provide NOC from the Bank if any portion of building proposed for license has been mortgaged. 4) The Licensor to provide the drawing and design calculation to Licensee for structural validation with the third party at the cost of the Licensee. Also the Licensor shall allow Licensees representatives to access/enter the schedule premises/building for onsite structural verification if required.

18 Conditions Precedent to license

19 Assignment/Sub Leasing

The Licensee shall be entitled to sublet the Schedule Premises or portions thereof to sister or group companies of the \Licensee wherein Decathlon S.A (parent company) holds a minimum of 10% of shares with prior permission of the LICENSOR. The duration of such sub- license or license arrangement shall not exceed the term of the license and the Licensee hereby undertakes to return possession of the Schedule Premises to the Licensor on expiry or termination of the license created pursuant hereto. The original Licensee will be liable for compliance by the assignee of all the terms of the license leave and license deed.

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20 Transfer of license

The Licensee shall not have the right to transfer the license in favor of a third party. . The Licensee shall be entitled to effect such additions or alterations to the Schedule Premises as may be required for providing such devices, gadgets and equipment and fixtures in the Schedule Premises as the Licensee may deem fit from time to time for the purpose of carrying on its business, with intimation to the Licensor .No permission shall be required for modifications required for fixing shelves, partitions, water purifiers, refrigerators, computers, air-conditioners, and other light appliances / machinery required in the Schedule Premises, provided any such modifications shall not change the structure of the premises and provided that any and all such modifications shall be in compliance with applicable law. Major structural repairs not attributed by Licensee shall be done by the Licensor and cost for the same shall be borne by Licensor.

21 Alterations/ repairs

22 Termination

1. If the licensor selling the property during this license period the licensors agreed to transfer the interest of this license to such person as the licensor may select and the licensors agree to continue this license as per this license terms. 2. In the event of any law or regulation of the state or central government regulation preventing the Licensee from conducting its current business in India, during the lock in period, the Licensee has the right to Terminate the Leave and license deed without any obligation.

23 Termination by Licensee

The Licensee shall have the option to terminate the Leave and license deed, after lock-in period of 3 years, by providing 6 months advance written notice to the Licensor. The Licensee shall have the right to terminate the Leave & License deed within lock-in period without any liabilities if any of the contractual obligations are not fulfilled by Licensor within 30 days from the date of written communication to the Licensor.

24 Termination by Licensor

The Licensor shall have the option to terminate the leave and license deed, if the license rent and charges are not paid by licensee for 2 consecutive months in a year. It is not applicable in case of any breach of contract by the Licensor for which the rent is withheld. In case of damage to the building/schedule premises due to
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25 Force Majeure

Force Majeure that renders the Schedule Premises/building completely unusable, the Licensee shall not be required to pay the rent till such time the building/schedule premises is repaired and restored to usable condition within 6 months. If the Licensors failed to restore/ repair the building to usable condition within 6 months then the licensee have every right to terminate the license leave and license deed with notice period of 2 months 26 Service Tax The Licensee shall pay the applicable service tax. The Licensee shall deduct tax deductible at source (TDS) as stipulated under the provisions of the Income Tax Act, 1961 from the sums payable under the license. TDS certificates to be provided latest before end of May of next financial year.

TDS

27 Property Tax & Municipal The Licensor shall promptly bear and pay present and future Taxes property taxes, rates and cesses in respect of the Scheduled Premises to the concerned authorities. For this purpose the licensee shall divide the agreement in into two parts viz one as leave and license and another one for amenities. 28 Business Related Taxes 29 Licensor Scope of Work The Licensee shall pay the Business Related Taxes. The Licensor shall arrange to give a certificate from a registered architect to establish the fact that no amended Occupancy Certificate is required for demolition of internal walls between the shops. The Licensor shall comply with Work Split List, as detailed in Annexure III. On taking possession of the property the Licensee will remove the partition walls within the schedule premises within 15 days to facilitate Licensor to complete his scope of work as stated in clause above. On signing of the Leave and license deed and receiving the full deposit. 125 KVA supply up to the panel boards. Additional power as required by the Licensee shall be provided by the Licensor and all electricity board related deposit for the additional power shall be borne by the Licensee. Electricity board related refundable deposits to be paid back to Licensee at the time of vacating the premises.

30 Licensee scope of Work

31 Possession of the Property

32 Electricity

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33 Power Back-up

The Licensor will provide 100% power back up for first level of basement covered car park lighting, Toilet lighting, lift, and firefighting systems. The Licensor shall provide suitable space for installation of licensees Diesel Generator at the ground level/first basement at no additional cost. The Licensor shall be entitled to inspect the condition of the license d Premises during the term of the license during business days and business hours by providing 24 hours notice to the Licensee or on mutual understanding. The Licensor shall during the term of the license , insure the Schedule Premises including the building thereon against risks of lightning, fire, storm, tempest, flood, inundation, terrorism, vandalism, civil disturbance or unrest, earthquake, subsidence and landslide. Copies of the insurance policy shall be furnished to the Licensee from time to time. The Licensee shall, during the term of the license , insure its inventory, fixtures and fittings brought into the license d Premises against risks of lightning, fire, storm, tempest, flood, inundation, terrorism, vandalism, civil disturbance or unrest, earthquake and burglary third party insurance relating to its employees and customers.

34 Generator Space

35 Inspection of premises

36 Insurance

37 Armless clause

The Parties expressly renounce to all appeals of any nature and for whatever cause they may be in compensation for damages (material and immaterial) resulting from the abovementioned risks against each other, their respective employees, representatives and subcontractors and their insurers. The Parties undertake on behalf of their insurer to obtain such waiver of recourse from their respective insurers in the same conditions. The Licensee shall be entitled to display its nameplates, logos, signboards, placards and advertisements at the gate and on the external faade of the building or in the Schedule Premises at no extra cost. Refer Annexure IV. However, the Licensee shall be liable to get the necessary permissions from the concerned authorities, bear and pay for obtaining the licences and such licensee, statutory or municipal taxes relating to the erection and display of such signages; All advertisements except that of the licensee will have to be approved by the Licensor and suitable rent adjustments made.
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38 Signage

39 Stamp duty Registration Charges 40 Trade Licenses Licensee activity 41 Electricity charges .

& To be borne by the Licensee & Licensor equally.

for Trade license and approvals to be obtained by the Licensee at their own cost Electricity charges towards chargeable area and signages will be borne by the Licensee at actual..and all business overheads pertaining to the business of the license shall be borne paid by the licensee.

42 Maintenance Charges for Maintenance charges pertaining to the common areas shall be the building borne and paid by the licensor to the developer This maintenance shall cover security cost, common area cleaning, common area lighting, toilets, fire hose reel and sprinkler system ,other than sprinkler system in the licensed premises and the first basement parking given to the licensee common generator fuel, annual maintenance of lift, generator, water pumps, painting etc as per maintenance split list in Annexure V. 43 Validity of LOI LOI is valid only for a period of 90 days from the date of signing and may be mutually extended by the Parties. This LOI is nonbinding document. This LOI is subject to approval of Licensee board and title clearance. Further, this LOI is subject to approval by the various owners who shall constitute the licensors. This LOI is executed in representative capacity as manager of fantasia business park and is subject to final acceptance by the various owners of individual units who shall be the licensors.

44 Signing of license Leave The Leave and license deed will be executed on completion of and license deed the condition precedent as mentioned in this LOI or within 90 days from the date of signing of the LOI, whichever is earlier. 45 Indemnification The Licensor hereby agrees to indemnify, keep indemnified and hold harmless the Licensee against all claims, demands, damages, costs, liabilities and expenses arising from any breach or default on the part of the Licensor in the performance of any statutory obligation or any covenant of the license, or on account of a latent defect in title or any infirmity affecting the intended use of the Schedule Premises by the Licensee or by any other investors in the said Building. Likewise, the Licensee hereby agrees to indemnify, keep indemnified and hold harmless the Licensor against all claims,
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demands, damages, costs, liabilities and expenses arising from any breach or default on the part of the Licensee in the performance of any statutory obligation or any covenant of the license . 46 Confidentiality The Parties hereby agree and promise to hold this Letter of Intent in strict confidence, to protect and safeguard against its publication, disclosure or transfer to any third party; to restrict access to this Letter of Intent to its officers, directors, and employees, consultants and professional advisors who clearly need such access;, to advise each of the persons to whom it provides access, that they are strictly prohibited from disclosing or transferring this Letter of Intent or any of its terms to any third party; and to maintain specific and adequate procedures to prevent the publication, disclosure and transfer of this Letter of Intent, or any of its terms to any third party. The Licensor will indemnify the Licensee against any loss suffered as a result of injury to staff or damage to property caused as a result of defective construction whether of the base building or the fit out component.

47 Defective Construction

This document is drafted in two sets, one is with Licensors and other one is with licensee and both are treated as original.

Licensors Representative For Fantasia Business Park

Licensee For Decathlon Sports India (P) Ltd

Ruppert Jeremie Regional Manager Maharashtra. Manager

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(FORMAT OF INDIVIDUAL L & L AGREEMENT OF LEASING) LEAVE & LICENSE AGREEMENT THIS AGREEMENT OF LEAVE AND LICENSE is made and entered Mumbai this 15th day of June 2012 BETWEEN Polepalle Parimala having its address at Flat-C-49, Block-29, Kendriya Vihar, Sector38, Nerul (W), Navi Mumbai-400706, herein after called as the THE LICENSOR (Which the expression unless be repugnant to the context or meaning thereof be deemed & include his/her/heirs, executors, administrators & assigns) of the ONE PART. AND Gopala Krishna Vakacharla (Proprietor of M/s. Samriddhi Solutions) having address at B-607, Mahavir Varsha, Sector-6, Ghansoli, Navi Mumbai 400701 herein after called as the THE LICENSEE (Which the expression unless be repugnant to the context or meaning thereof be deemed to include his/her heirs, executors and administrators) of the OTHER PART. WHEREAS the licensor is the exclusive and absolute user of and seized and possessed of the Shop no.S12-33 on the 2nd floor in Centurion Shopping & Shop Complex, Plot No. 88-91, Sec-19A, Seawoods Dharave, Nerul-East, Navi Mumbai-400706 hereinafter, for the brevity's sake, referred to as THE SAID PREMISES AND WHEREAS the Licensee has requested the licensor to give the said premises on leave & license basis for a period of 33 months from 01/07 /2012 to /31/3/2015 hereinafter referred to for brevity's sake, as THE SAID PERIOD. AND WHEREAS the licensor has agreed to allow the licensee the use of the said premises on leave & license basis for the said period on terms and condition hereinafter appearing. NOW THIS AGREEMENT OF LEAVE & LICENSE WITNESSETH AND BOTH THE PARTIES HEREIN AGREE AS UNDER THAT: 1. The licensor is the exclusive and absolute user of and is seized and possessed of the Shop No.S-33 on the second floor in Centurion Shopping & Shop Complex,Plot no88-91,Sec-19A,Nerul(E) Navi-Mumbai and is occupying the same on ownership basis. The licensor hereby state and declare that he has hereby allowed the Licensee to use occupy the said premises on leave & license basis for a period of 33 months, commencing from 1/7/2012 ending on 31/3/15 The Licensee has agreed to occupy and use the said premises on Leave & License basis for the said period.
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2.

3.

4.

The Licensee shall pay license fees for the use of the said premises as under, Service tax if any to be paid by licensee in addition to the license per month

Period 1/7/12 to 31/5/13 1/6/13 to 30/04/14 1/05/14 to 31/03/15

License Per Month Rs. 10,000=00 Rs. 11,000 = 00 Rs. 12,000 = 00

5.

The Licensee hereby irrevocably and unconditionally further agrees that notwithstanding anything contained in the provisions herein written the licensee shall handover peaceful and vacant possession to the licensor, on the expiration of the said period and/or expiry of the renewal period and/or on revocation of this license, and in the event of licensee not vacating the said premises as agreed herein he renders himself liable to pay to the licensor, in addition to compensation/license fees, the liquidated damages calculated at Rs.750/- (Rupees Seven hundred fifty only) per day up to the day of handing over of peaceful and vacant possession of the said premises to the licensor. 6. The Licensee shall keep the said premises in good condition and if any damage is caused to the said premises, the licensee shall make good the loss caused to the licensor or account of such damages and breakages. 7. The Licensee shall not cause any nuisance to neighbors and shall refrain from doing any act which might be objectionable to the owners and/or the neighbors. 8. The Licensor shall have right to enter and inspect the premises at any time proper and suitable to him but only after giving one day notice conveying their intention to do so. 9. The Licensee shall not keep, permit or allow any one else to use the said premises and/or grant license to use occupy or sublet nor shall Licensee transfer or assign the benefits of this agreement to any person or persons. 10. The Licensee shall not carry out any illegal business or activities nor shall any prohibited articles or commodities which could damage to the said premises and shall observe all the rules and regulations of the housing society, government, semi government and local authorities. 11. The license shall automatically terminate on expiry if the said period and licensee shall immediately vacate the premises and handover peaceful and vacant possession of the said premises to the licensor. 12. This license shall stand automatically revoked on breach of any of the terms/ conditions /covenants of this agreement of leave and license by the licensee and

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13.

14.

15.

16.

17.

18.

licensor shall have the right to get the said premises vacated and take over vacant possession if Licensee refuses to vacate peacefully. The Licensee shall keep Rs. 50,000/- (Rupees Fifty Thousand Only) as an interest free Security deposit with the licensor on or before execution of these presents for the said period , and on the completion of the said period or earlier termination thereof,, as herein provided and on handing over the vacant and peaceful possession of the said premises by the licensee to the licensor, the Licensee shall receive, from the Licensor, the balance amount or complete amount of Security Deposit, as the case many be, after deductions of all compensation/ liquidated damages/license fees, expenses and damage to the said premises ,if any due, as also all the arrears of charges due as per this Agreement. The licensor and Licensee hereby covenant with each other that the licensor can terminate this agreement earlier that the date stipulated hereinabove by giving one month in writing, after a period of 10 months which will be treated as lock in period from both sides, to the other party of such intention and accordingly the said agreement shall remain terminated on expiry of the notice period. Any notice to be given by either of the parties will be deemed to have been duly and properly given and served if the party giving notice delivers the said notice to the other party and gets the acknowledgement thereof or sends the notice by registered post with acknowledgement due at the address mentioned hereinabove of the respective parties. Any change in address of either of the parties shall be notified to other party in the same manner as mentioned above as in case of notice. The licensor only shall have and shall be deemed to have the ownership, full control, legal possession and occupation of the said premises and the Licensee shall use and occupy the said premises as Licensee only and the Licensee shall not claim any interest of any nature whatsoever in the said premises and that nothing in this agreement shall be constructed as either creating any right/interest/tenancy/subtenancy/lease/sublease etc., in favour of the licensee in or over or upon the said premises or transferring any interest therein favour of the licensee other then the permissive right of use hereby granted. The license granted to Licensee is revocable and non-transferable and which is to be terminated on the expiry of the said period as stated hereinabove or earlier subject to the terms and condition as herein stated. Licensee further agrees that he shall not let/sublet/underlet/assign and/or put any third party in possession of the said premises as the license hereby granted is personal to the licensee. The Licensee shall, on expiry of the period of this agreement or the renewal period as the case may be or on earlier revocation and/or termination of this agreement, vacate the said premises as herein provided and remove himself together with all his articles/things and hand over the vacant possession of the said premises without any

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19.

20. 21.

22.

23.

24.

let/hindrance and in good order and condition, except for normal wear and tear which is expected. The Licensee shall occupy and use the said premises on AS-IS-WHERE-IS basis and hence shall not ask or require from the licensor from the licensor any payment for any alteration/additions/ repairs/renovations of the said premises. If any alteration / additions / repairs/ renovations of the said premises is required by the Licensee it shall be carried out by the Licensee after obtaining prior approval from the licensor (the approval shall in reasonable circumstances, be immediately granted by the licensor) and appropriate authorities including the co-operative society. It is expressly agreed & declared by the licensee that any alteration, modifications and/or additions of a structural and/or permanent, nature made by the licensee in or to the said premises with the consent of the licensor shall at all times be and remain the exclusive property of the licensor and licensee shall not be entitled to any claim, compensation or payment nor shall he demand any amount on this behalf. The Licensee has accepted that the said premises are in a co operative society and if the said cooperative society/builder objects to this license at any time than the Licensor shall terminate the license by giving two months notice At any time either of the parties shall terminate the license by giving one month notice. licensor covenants with the licensee that he has duly paid all the society dues, maintenance charges and all other outgoings including of Housing society in respect of the said premises up to the date of the this agreement and henceforth the licensee shall pay the society dues and shall be liable to bear and pay the electricity bills & telephone bills daily maintenance and operational cost if any respect of the said premises corresponding to the said period and/or renewal period upto the earlier termination of this license and/or period upto the date of handing over of the peaceful and 'vacant possession of the said premises, as the case may be. In case/any telephone connection is to be obtained it will be obtained with the permission of the owner property taxes for the said unit shall be paid by the licensor The Licensee, his family members, staff and visitors shall take all reasonable care of the said premises and shall indemnify the licensor from the against any damages/loss by reason of use/occupation of the said premises and he shall not do any act or thing which may cause any harm/damage to the said premises an/or to the fixtures / fittings in the said premises and shall keep proper care of the same as he would take in case of his own property and belongings and shall always keep the said premise in clean/ habitable/ decent/ sanitary condition and free form waste/rubbish. The Licensee, his family members, staff and visitors shall not do/cause to be done, any act/deed, in or about the said premises which is illegal/ improper/ indecent/ immoral or which may expose the licensor to any damage/loss/harm, due to any
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lega1/government/society's action, or any action by the person/s so affected and shall not disturb /injure /damage /remove /shift /displace / misplace or cause to be disturbed/ injured /damaged /removed shifted /displaced /misplaced any of the fixtures/ fittings provided in the said premises. 25. The licensee, his family members, staff and visitors shall observe all rules/ regulations, now in force, or as may be imposed hereafter by the concerned society /association /government /municipal authorities, in respect of his use/occupation of the said premises, from time to time. 26. All expenses relating to legal expenses, stamp duty & registration charges shall be paid by the licensor and Licensee equally. The licensee further agrees that at request of licensor he shall present himself at the Office of the Sub-Registrar of assurance and admit his executions of this presents. 27. The licensor shall obtain written permission of the said society/builder allowing the said premises to be used by the licensee.

28. The Licensee shall indemnify the licensor and their respective heirs, executors, administrators and assigns, and save them of and keep them harmless from all claims/ demands/ damages/ actions/ costs / charges, to which they may be held liable, by reason of any activity/ negligence/ commission/ non-performance/ non-observance, of any terms/ conditions/covenants of this license or otherwise, howsoever, by the Licensee or any one acting under him. 29. The licensor should not be liable for any theft, loss, damages or destruction of any property of the licensee or any other person, lying in the said premises nor for any bodily injury to any person in the said premises from any cause whatsoever. 30. This agreement shall be governed under all applicable laws /rules/ notifications in the force as on the force as on the date of this agreement and more particularly under the Indian contracts Act, 1882, and The Maharashtra Rent Control Act, 1999. 31. Chairs 7, 32. Any dispute is subject to the jurisdiction of the Court/Competent authority in Mumbai. IN WITNESS WHEREOF, THE PARTIES HERETO HAVE HEREUNTO SET AND SUBSCRIBED THEIR RESPECTIVE HANDS ON THE DAY AND THE YEAR FIRST HEREINABOVE WRITTEN. SIGNED, SEALED AND DELIVERED BY the Within named LICENSOR SIGNED, SEALED AND DELIVERED BY the Within named LICENSEE
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5. Tackling the Brokers. In real estate industry mainlt 50% of the business is done through brokers and consultants who bring the potential clients to the property and also many a times end up closing the deal Broker on cracking a deal gets brokerage from the client he sells of leases out and also from the investor whose plot he leases. Brokerage in lease is generally one months rent from both the parties if the agreement is for 11 months and if more than 11 months it is 2 months brokerage. In Haware we have booking offices in every complexes and we keep an eye on the walk in if we sense that the person is a broker we generally dont give them more information or if he is a capable broker we end up having a mutual agreement with Haware builders.

Specimen is given below

Agreement of Mutual Understanding We, Haware Builders Pvt. Ltd, declare a joint alliance with (A) any person, partnership, association, limited liability company or corporation which acts for another person or entity and (B) for a fee, commission or other valuable consideration, lists for sale, sells, exchanges, buys or rents, or offers or attempts to negotiate a sale, exchange, purchase or rental, and any person, partnership, association, limited liability company or corporation employed by or on behalf of the owner or owners to whom we have serviced, than (A) would be sharing the (B) equally with us (Name of firm) failing to which if (A) does not share (B) he will be exempted to do the transaction and would be liable to pay 80% of his (B) failing that, same can be sue able at (name of the court). What we assure and reassure is we are concerned about your safety, your security, and your privacy. Let's work together in partnership to ensure that we can have the best way forward. Let us grow together equally.

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6. Essential requisites to close the deal First of all you need to know all the minute things about the Real Estate Market terminology i. Build Up Area

The area what is occupied by the plot including Pillared Area and Walls, in short it is the total area which the builders has. For sale Purpose price is always calculated on build up area. Per Sq ft price X Total Build up Area ii. Loading

Loading Factor is of most important as it determines how much space for utility you would get in buying particular build up area. Generally loading includes Pillar Space, Walls and sometimes also builders margin of Profit in it. Mainly there is 50 % loading in Commercial Real Estate market and 30% loading in Residential Real Estate Market. iii. Carpet Area Carpet area is the area which is available for utility. In Commercial Carpet Area is Half of the Buildup Area e.g Build up area 1000sqft than Carpet area 500sqft and Lease is always quoted on Carpet Area i.e Rs 90/ carpet area. Per Sq ft Rent Rate X Total Carpet Area iv. Height/Loft In order to have an advantage over the loading factor builder increases the height of the plot so that the owner or the tenant can make lofts. Lofts divide the total area making the plot Duplex and eliminating the loading factor. This is only done in Commercial Real Estate. For getting Lofting Permission the builder has to apply to the respective town municipal corporation after getting the permission only he can prepare lofts.

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Hawares Every Commercial property has lofting facility since we have clear height of 12ft in every plots v. Terrace Area

Shutters and terrace area are small issues but at times very important. Open area that is terrace plots have 0% loading and for sale purpose Terrace area is calculated half E.g. terrace area is 300sqft and price going is Rs 10000/sqft for sale than the price of the terrace would be 300 X 10,000 / 2 = Rs 15,00,000.

These are the Basic things the sales person has to understand while selling the plots or leasing them, without the knowledge of this part the deal can never be converted into actual sales.

MY ACHEIVEMENTS While during my internship I was give a target of 4 deals of lease in commercial Complex mainly of Seawoods that is Centurian Business Park where in I not only completed my targets but crossed it. I did 5 leasing Deals and 1 Sales Deal amounting to Rs 40 Lakh and also getting 4 Corporate Leasing Leads which were than subsequently handed over to my Senior for executions they were 1. Mc Donalds 2. BATA 3. Play Park Gaming Zone 4. Bombay Deign

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The Reason behind my success was only because I followed the said Sales Process Cycle and implemented it throughout. I used to have frequent follow ups with my clients who were interested in the property and also used to continuously search for more leads by going through websites and getting their corporate Mail ID.

Even I use to post on Property Websites such as 99acers.com and Makan.com which they do helped me with the information of Perspective and interested buyers and even my advertising strategy helped me a lot my work sequence which I followed is given in the above chart which explains each and every area or my work. At last after the deal is done we have to be in constant touch with my clients so as to maintain the image and stand by my companys policies. Each and every mail and documents were maintained in secure data exchange system and was scrutinized by my senior Mr. Rajesh Ruparel and Prerna Ruparel.

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8 PROBLEMS FACED

Real Estate Market is Unorganized and Scattered Since the Real Estate Market is very Unorganized and scattered in Area of Navi Mumbai there was much difficulty in getting the leads since the competition was intense and sale or lease was generally done through brokers and the consultants in case of Corporates.

Brokers & Middlemen Mainly this industry runs on brokers and consultants on whom many of the prospects do believe in since brokers have maximum exposure to the area with maximum knowledge of the various builders. Clients thinks brokers are not biased but sometimes brokers are attracted towards heavy brokerage and sell or lease the plots at price comparatively higher than market price

Lack Of Amenities & Negligence Lack of Civic Amenities and Negligence of concerned authorities to unauthorized hoardings, there were many problems due to these factors as due to unauthorized hoarding of the politicians and the ongoing fests the visibility of the Business Complex was hampered and also the surrounding area to Business park was not well maintained due to lackluster of the civic authorities.

Decisions are dynamic and can be influenced easily Buying and leasing decisions are taken carefully since the money involved in this activity is huge and also the risk of sustaining the new market is questionable. The prospects easily gets influenced by the surrounding environment which consist of people an many factors discussed earlier and changes his decision not to grow and expand and the deal is lost.

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9. CONCLUSION & RECOMMENDATION

CONCLUSION Efforts on integrating the Real Estate Market should be done in order to organize it. This can be done by creating an equal opportunity to the brokers and the consultants so that there is a steady growth in the market and not where in brokers look on to their benefits and not on their clients which in turn fails clients operations and lowers his efficiency and than leads to degradation of markets And further more once the FDI is allowed in this market every one would be benefited in Real Estate and in order to prepare the market for this upcoming opportunity the Real Estate market should be well segmented and monitored by authority in order to share the revenue considerably. RECOMMENDATIONS What I have observed while surfing for my postings in 99acers.com and makan.com where in they just provide us details just of potential clients and do not indulge in activity of broking nor assign any brokers or consultants to carry on the operation. What I recommend is open a web portal similar to the above mentioned sites and put an additional feature of assigning brokers and consultants area wise segments and passing the leads area wise to respective broker and same would be conveyed to the interested clients. And also provide clients with financial assistance by contracting with banks in that area. This practice would not only benefit brokers and builder and also the clients who will get indepth knowledge about where he wants to relocate or invest the broker assigned to him is well versed about the area. This was what I recommended and now is being implemented by the name www.propertynfinancemart.com hope to see it working soon and waiting for the approval on FDI in INDIA.

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