by Prashant Kapadia/INS
Mumbai, December 2017: The 2nd edition of The Real Estate Management Institute’s (REMI) Owner Developer Program was launched on 28th November 2017 at Mumbai. This 32 hour- 4 day program scheduled for 28th, 29th Nov and 5th & 6th Dec 2017 has already crossed the middle mark and has thus far been true to its promise.
The program started off on a very informative note with the session on ‘Market Trends in Real Estate’ delivered by the Head of Research for JLL, Mr. Ashutosh Limaye. He discussed the office, retail and residential market trends in top 7 cities of India and in the course of the presentation clearly drew out the macro and micro factors that affected these trends. Session Two focused on ‘Capital Raising & REITS’ and offered the participants pertinent information on this financial aspect. Mr. Gulam Zia, Director, Knight Frank followed up with a highly interactive Harvard Business School’s India-based case study on project feasibility. The diverse mix of participants from cities like Bengaluru, Hyderabad, Gujarat and Kolkata and of course Mumbai, had a very educative experience debating and discussing possible solutions to the case study and in the process developed a fine understanding of what a feasibility study should offer.
Day Two of the 2nd edition of the REMI Owner Developer Program focused on enhancing delivery capabilities under RERA. It began with a highly interactive panel discussion where there was a great deal of learning on both sides. The 3 speakers representing the Project, Accounting and Design aspects of the construction process shared a great amount of relevant knowledge based on actual experience. Taking on from Day 1, the financial focus turned on to ‘Cashflow Management Under RERA’. Again there were several queries which were ably answered by the Real Estate Expert Mr. Jayesh Kariya and team.
The legal team of Hariani & Co then took over and delivered a crash course in Joint Venture/ Joint Development Agreements and what a developer ought to look for in those. The last session was one on Legal Due Diligence by a partner of Cyril Amarchand Managaldas.
Shubika Bilkha, Business Head at REMI, ‘’ The real estate sector is metamorphosing into a tightly controlled and regulated industry. Real estate companies have had to change their business practices almost overnight to keep pace with the evolving environment. It has never been more challenging to be a leader in real estate. The overwhelming response received across the industry for the ODP has been most encouraging. We were pleased to see the participation of a number of prominent real estate companies in the program. This highlights the commitment of key players in this sector to align their businesses for greater professionalism and transparency.’’ The ODP programme participants had an opportunity to meet, learn, dialogue and network with peers and significant influencers in the real estate industry and offered participants an eagle’s view of what to expect, how to respond and what they need to know to capitalize on the possibilities.
