Editor’s
Note
Brigade Insight is now 26 issues old, which is both an exciting and intimidating thought. We have created a tradition that not only must endure, but must improve with age!
The new "brand Bangalore", created and fuelled by the city's Silicon Valley tag and outsourcing boom, can be seen in the growing need for intelligent, space-efficient commercial buildings. North Star, our iconic new office building in the Brigade Gateway enclave, Summit I and II in Brigade Metropolis and Brigade TechPark in the Whitefield area, will be welcome additions to the city's landscape.
Pressure is being felt not only for office space, but niche residential accommodation as well. Senior Citizens are a case in point. They have very specific needs that are often just not met in standard apartment complexes. Insight will tell you how Serenity addresses their problems-security, special features and lifestyle-enhancing facilities-so they can lead an independent, comfortable life as members of the community at the Brigade Gardenia enclave.
This issue of Insight also announces the opening of a versatile, state-of-the-art venue for concerts, exhibitions, conferences, conventions, ceremonies and receptions. The MLR Convention Centre, in the Brigade Millennium enclave, will be a valuable benefit for corporate, cultural and social events of all types and sizes.
And finally, there's Snippets. This issue looks back and forward at the same time, connecting the past and present in a very relevant fashion! Read on, enjoy the insights and get back to us with your thoughts.
A lot has happened since the release of our previous issue of Brigade Insight in Feb '06- Central and state budgets were pronounced and passed; the stock market sensex rose sharply to 12,000 and settled down to saner levels of around 10,000; interest rates have risen sharply; many property developers are contemplating going for IPOs and raising private equity funds.
During this period, Brigade has commenced the construction of the residential, hospital, shopping mall and office portions in Brigade Gateway. So also the residential and software facility buildings in Brigade Metropolis.
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While the Indian economy is buoyant and the general mood of the Indian public is positive, the recent stand-off between the State Govt and NICE was a dampener. With a new and dynamic Commissioner at the helm of Bangalore Mahanagara Palike, citizens' hopes of getting better roads and pavements have gone up. Laying of foundation stones for Bangalore Metro and the 6-lane expressway to Electronic City will certainly pave the way for a better Bangalore!
Our civic authorities' efforts to widen roads in Bangalore needs to be reciprocated by the citizens. The Government's policy of awarding TDR (Transferable Development Right) Certificates is very progressive and a win-win proposal to both the person/s giving up the land and the civic authority. It is like having your cake and eating it too!
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I fail to understand the psyche of our policy makers who want the economy to grow fast (cross 10% rate) and at the same time try to curb growth by imposing new taxes, introducing confusing laws and increasing interest rates and making availability of money more difficult for developmental purposes. This is the enigma of India.
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After a sharp upswing in real estate prices, due to a stock market correction, increase in home loan rates, tighter scrutiny of loan applications and monetary controls, speculators seem to be going slow on fresh investments leading towards a plateau situation.
But due to substantial price hikes of raw material like cement, diesel and overhead costs escalation, there may not be any possibility of reduction in real estate prices barring a few exceptions. It may still be a good time for the 'actual user' and 'genuine investor' to make fresh buys on a selective basis-based on the location, the project, permissions, and the credibility of the developer.
Sd/-
—M.R. Jaishankar
Managing Director, Brigade Group
Brigade Gateway meets the press
Brigade Group held a press conference on 3 March, at Hotel Windsor Manor, to announce its proposed plan for Brigade Gateway, the 40-acre lifestyle enclave in Malleswaram- Rajajinagar. The conference was well-attended, beginning with a presentation followed by a question and answer session and lunch.
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An artist's impression of the
residential section of
Brigade Gateway by night |
Focusing on Brigade Gateway's status as a lifestyle enclave, the presentation touched upon the residential, commercial and retail components of the enclave. Brigade Group
also announced its association with PVR Cinemas for a 11-screen multiplex and Columbia Asia for a 150-bed hospital at Brigade Gateway.
In addition, the press conference also highlighted Brigade Metropolis-the 36-acre integrated enclave, located just 6 km from Indiranagar enroute to whitefield. Proposed investment plans for other real estate projects in Bangalore and Mysore were also announced.
Customer feedback
The model apartment complex and site office at Brigade Gateway were both impressive. I left feeling I was in safe hands. As for the apartment itself: it was everything I could have hoped for and more. It feels so spacious. The layout is wonderfully sensible, almost as if we had designed it to meet our specific needs. I think the challenge for us will be to keep the interiors as elegant and minimalistic as they look now!
I cannot tell you how much I am looking forward to living at Brigade Gateway.
—Meena
Construction commences at
Brigade Gateway and Brigade Metropolis
In the last issue of Brigade Insight, we talked of Brigade Gateway and Brigade Metropolis, our two integrated enclaves, having received environmental clearance. Construction at the two enclaves have now started in full swing.
Meet your celebrity neighbours at
Brigade Gateway
 Many prominent personalities are making Brigade Gateway their home. The picture shows Viswa Prathap Desu, GM-Marketing, Brigade Group, with Shankar Mahadevan (singer and music director) and his wife, Sangeeta, at our marketing office at Brigade Gateway.
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