Ascott expands footprint in Gurugram with 90 unit Citadines Paras Square Gurugram

CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), announced that it has secured a contract to manage its first Citadines-branded serviced residence in Gurugram, Haryana. The contract was awarded by Gurugram-headquartered Paras Buildtech, a subsidiary of Paras Group. The 90-unit Citadines Paras Square Gurugram is expected to open in Q2 2020. Ascott currently operates two serviced residences in Chennai and one in Navi Mumbai.


Citadines Paras Square Gurugram is located within Paras Square, a mixed-use development comprising over 100,000 square feet of retail space and the serviced residence tower. Citadines Paras Square Gurugram is strategically located off Golf Course Extension Road in Sector 63A, amidst the IT Special Economic Zone (SEZ) and premium residential projects. Delhi’s Indira Gandhi International Airport is only 40 minutes away, offering easy connectivity to business travellers coming to Gurugram. Citadines Paras Square Gurugram will comprise 90 spacious and modern studio, one-bedroom and two-bedroom units ranging from 45 Sqm to 65 Sqm in size. Residents will enjoy business, entertainment and recreational facilities along with Ascott’s world-renowned service excellence.

Mr. B.V. Bharadwaja, Ascott’s Country Head – India, said: “Gurugram is a significant IT-ITeS cluster and is considered as the business process management (BPM) capital of the world, employing 5% of the global BPM workforce [1]. In 2018, the hospitality industry in Gurugram also witnessed an increase across all three parametres – average daily rate (ADR), occupancy percentage and revenue per available room (REVPAR) [2], proving that there is an increasing demand for quality accommodation here. With the signing of Citadines Paras Square Gurugram, we will have two of our distinct serviced residence brands within 2 KM of each other, catering to both luxury and upscale segments.”

Mr Aman Nagar, Director, Paras Buildtech, said: “We are proud to be partnering with The Ascott Limited for the management of our second hospitality project. Ascott’s knowledge of the lodging market and its global reputation is consistent with our endeavor to develop quality, upscale projects that cater to global citizens.”


Maharashtra Government signs MoU with IIFL Home Finance Ltd.

IIFL Home Finance Ltd. (IIFL HFL), India’s leading housing finance company on Wednesday signed a Memorandum of Understanding (MoU) with the State Government of Maharashtra. This MoUfocuses on extending the benefits of Credit Linked Subsidy Schemes (CLSS) under PMAY across state of Maharashtra to home buyers belonging to affordable housing segment.

Pic-IIFL Signs MoU with Maha Govt

The MoU was signed in the presence of Sanjay Kumar (Addn. Chief Secretary, Housing Deptt, Govt. of Maharashtra), Hemkumar Gopalakrishnan (Regional Manager, NHB), Monu Ratra(CEO,IIFL HFL), Ajay Jaiswal (IIFL HFL) and Sundeep Bhatia (IIFL HFL).Through this MoU, Housing Department of Government of Maharashtra will make provisions and facilitate permissions for IIFL HFL to educate customers and enlighten them about the benefits of PMAY. Under the agreed terms and conditions, IIFL HFL will be able to conduct on the spot counseling for home buyers visiting its branches, give presentations to defined audiences and proactively call potential customers tofacilitate home loans helping them avail CLSS subsidy benefits.

Monu Ratra, CEO, IIFL Home Finance Ltd. said “We are committed to support Hon’ble Prime Minister’s vision of ‘Housing for All by 2022’. We thank the Government of Maharashtra for giving us this opportunity to educate and enable customers in availing CLSS subsidy under PMAY. Witha network of over 10 HFC and over 150 NBFC branches located across the state, this MoU with the Government would allow us to facilitate benefits of Pradhan Mantri Awas Yojana among the affordable housing segment of home buyers”

IIFL HFL has been one of the leaders in CLSS scheme working towards financial inclusion with customized product such as ‘Swaraj Home Loan’. For its continued support in helping beneficiary families avail benefits of CLSS Subsidy under PMAY, IIFL HFL has twice received the award for ‘Best Performing PLI under Credit Linked Subsidy Scheme for EWS/LIG under Pradhan Mantri Awas Yojana’ from Ministry of Housing and Urban Affairs.

The company was recently in news for touching 23,500+ beneficiary family mark in CLSS subsidy distribution under PMAY. In the state of Maharashtra alone, IIFL HFL has approved home loans of Rs. 1000+ crore under PMAY (Urban) CLSS scheme. Till date the company has supported more than 6800 beneficiary families in the State to avail CLSS subsidy amounting more than Rs. 160 crores under PMAY.

Across India, till the month ended January 31, 2019, IIFL HFL has approved home loans of up to Rs. 3300+ crores under PMAY (Urban) CLSS scheme to beneficiary families belonging to EWS/LIG/MIG category. More than 23500+ beneficiaries have been benefited by the subsidy scheme providing Rs. 535+ crores as subsidy under PMAY. 

The average ticket size for loan amount disbursed to customers under this scheme is Rs. 14 lacs in case of EWS/LIG. IIFL HFL has made exceptional growth in terms of beneficiary numbers and CLSS subsidy disbursement under PMAY-Urban. Since the launch of the scheme in 2015, CLSS beneficiary numbers of IIFL HFL have grown from 65 in FY 2015-16 to 23,500+ till Jan ’31, 2019. 

दुबई में आयोजित हुआ मेगा इंडिया-यूएई बिजनेस शिखर सम्मेलन

अग्रणी रियल एस्टेट डेवलपर के डब्ल्यू ग्रुप द्वारा आयोजित इस शिखर सम्मेलन में विद्वान पैनलिस्टों ने की शिरकत। इस भव्य समारोह में श्री पंकज कुमार जैन, एमडी, के डब्ल्यू ग्रुप ने उद्योग जगत में उत्कृष्ट योगदान के लिए भारत और संयुक्त अरब अमीरात (यूएई) के जाने-माने उद्योगपतियों को सम्मानित किया। 

India-UAE 1-business summit held in Dubai-Pic

28 सितंबर 2018: अग्रणी रियल एस्टेट डेवलपर केडब्ल्यू ग्रुप ने दुबई में होटल अटलांटिस में एक मेगा इंडिया-यूएई बिजनेस शिखर सम्मेलन का आयोजन किया।  इस भव्य समारोह में श्री पंकज कुमार जैन, एमडी, के डब्ल्यू ग्रुप ने उद्योग जगत में उत्कृष्ट योगदान के लिए भारत और संयुक्त अरब अमीरात (यूएई) के जाने-माने उद्योगपतियों को सम्मानित किया। कार्यक्रम में अपने विचार व्यक्त करते हुए, श्री जैन ने कहा, “यह हमारे लिए एक गर्व का क्षण है और मैं इस आयोजन को सफल बनाने के लिए के डब्ल्यू ग्रुप की पूरी टीम को दिल से धन्यवाद देता हूं।”

India- UAE business Summit-Dubai pic

इस अवसर पर मौजूद गणमान्य व्यक्तियों में उत्तराखंड के पूर्व मुख्यमंत्री डा. रमेश पोखरियाल, श्री के.सी. त्यागी, मुख्य महासचिव  और राष्ट्रीय प्रवक्ता, जेडीयू, महामहिम सुहेल मोहम्मद अल जरुनी और महामहिम शेख तहनून बिन सईद बिन तहुनून अल नाह्यान शामिल थे। साथ ही इस मौके पर फिल्म जगत से अभिनेता राजपाल यादव एवं अभिनेता गजेंद्र सिंह चौहान उपस्थित रहे। के डब्ल्यू ग्रुप द्वारा आयोजित इस शिखर सम्मेलन में विद्वान पैनलिस्टों ने भी शिरकत की जिसमें प्रखर वक्ता सचिन गुलाटी, सिनियर वाईस प्रेसिडेंट एंड हेड- वैल्युएशन्स (इंडिया), स्ट्रेटेजिक कंसल्टिंग ग्रुप, जेएलएल (इंडिया) प्राईवेट लिमिटेड, करण शर्मा, मैनेजर, स्ट्रेटेजिक कंसल्टिंग, जेएलएल (इंडिया) प्राईवेट लिमिटेड, सीएंडडब्ल्यू से बादल यागनिक, मैनेजिंग डायरेक्टर- लीजिंग इंडिया, अर्चित कुमार सूद, एमआरआईसीएस, एमटीपीआई- पार्टिसिपेंट, अभिमन्यू गोयल, पार्टिसिपेंट एवं गगन रणदेव (नेशनल डायरेक्टर), कोलियर्स इंटर्नेशनल शामिल थे।