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MUMBAI:Demographic
patterns spurred by the rising income levels across the burgeoning
middle class consumers have created buoyancy in the real estate
market in India. The Indian middle class, which numbered around
57 million in 2001-02 is expected to swell to around 92 million
by 2005-06 and cross the 153 million mark by 2009-10 (Source: NCAER).
India ’s real estate opportunity is huge and local developers
and foreign investors alike are buoyant on the back of a booming
economy, favourable demographics and liberalised FDI regime with
a 30 per cent growth in the market.
In
an effort to help the Indian consumer make an informed choice, CNBC
AWAAZ, I ndia’s premier Hindi business consumer channel, for
the first time presents India’s most credible Real Estate Awards
in association with CRISIL. CNBC AWAAZ and CRISIL Real Estate Awards
is an initiative that honours India’s leading developers and
builders who have played a major role in shaping the India success
story. The Awards recognise the best in the industry that have the
potential to raise the bar and set new benchmarks for newer entrants.
“The
first ever Real Estate Awards by CNBC AWAAZ and powered by CRISIL
will bring to light some of the best practices in the nascent yet
promising real estate industry, setting standards based on which
the industry can take cues to grow. More importantly, the Awards
will enable the consumers make informed decisions since the winners
will be awarded by one of the most credible authority in the industry
– CRISIL. The impact of this sector's development on overall
economic growth is significant, even in the medium term.” said
Ajay Chacko, Head of Marketing, CNBC Universe, while commenting
on the need for an award in this space
The
awards will felicitate the real estate developers in the retail,
commercial and residential sectors across the country and the best
across small, medium and large-scale real estate developers. CRISIL
will evaluate the entries for the Theme awards and Category awards
based on certain set parameters. Nominees will be short listed in
each category depending on the architectural design, execution,
and facilities on offer amongst other considerations like compliance
to environment and safety norms. Achievement awards and Special
awards are not open for nomination entries; the nominees are auto
nominated by CRISIL depending on the venture’s performance
and contribution towards the real estate sector. An esteemed jury
of well-known industry leaders in the real estate space will shortlist
the winners for the same.
The
real estate awards are an endeavor to celebrate and reward excellence
in a sector that is undergoing a metamorphosis from disorganized
state to one of order, from mini to mega projects, and from primitive
to ultra modern. The awards bear testimony to the belief that regulatory
constraints need to be complemented with positive strokes for a
balanced development of a sector as important as real estate, which
contributes significantly to both the economic growth and employment
generation in India . The awards will not only benchmark real estate
projects, thereby encouraging healthy competition among the developers,
but will also help to showcase the best practices in the sector,
for everyone to emulate. Overall, the awards are a landmark event
for the real estatesector." Said Akash Deep Jyoti, Head, Corporate
Infrastructure and Ratings, CRISIL Ltd.
Given
below ar a list of categories for the Real Estate Awards.
Nomination
Based Awards
Theme
Awards – Residential property
- Group
1 (based on sq ft..) – SMALL
- Group
2 (based on sq. ft.) - MEDIUM
- Group
3 (based on sq. ft) – LARGE
Theme
Awards - Commercial property
Group
4
Category
Awards
- Category
1 - Consumer Protection
- Category
2 - Transparency
- Category
3 - Financial Systems and processes
- Category
4 - Best project execution
- Category
5 - Best Legal
- Category
6 - Best Overall systems
- Category
7 - Best Organizational structure
Self
Nominated Awards
Achievement
Awards (No nomination Required)
- Category
1 - Outstanding Contribution to RE sector
- Category
2 - Most diversified RE developer
Special
Awards (No nomination required)
- Architect
of the year – Residential
- Architect
of the year – Commercial (Office)
- Best
Internet Portal
- Best
Mall
- Best
Golf course
- Best
Interior Residential
- Best
Interior Commercial
- Best
Marketing Campaign
An
esteemed jury of well known industry leaders in the construction,
infrastructure and real estate space will shortlist the winners
for the Special Awards.
Methodology
of the CNBC AWAAZ and CRISIL Real Estate Awards
- Applications
for participation in response to advertisements in various media
- Applications
to be sent directly to CRISIL
- On
receipt of application, CRISIL will send a request for information
to the participants. If the required information is not received
before the deadline, the application will not be considered for
awards
- Applications
only for completed constructions in the FY 2006 (Jan 2006 –
Dec 2006)
- No
zonal preference
- CRISIL
will evaluate the entries after close and short list the final
nominees based on the information provided.
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