Reactions of Mr. Seemanto Roy, Head – Aamby Valley City and Sahara Entertainment Business on Budget 2010

The Budget presented by the Hon’ble Finance Minister is progressive and will help the economy leapfrog.

The relief announced for the real estate sector and the enhanced allocation for development of Urban & Rural infrastructure augers well for the Indian Real Estate Industry.

The emphasis on solar energy and setting up of the National Clean Energy Fund is also well timed and will make India a key player in supporting the cause of curbing Global Warming.

The Budget has something for everybody. His proposal to corporate surcharge from 10% to 7.5% and also the lowering of tax slabs on personal incomes will create a surge of demand and competitiveness in the market.

The creation of a unique symbol for the Indian Rupee like the US Dollar and the British Pound will give an enhanced and unique identity to our national currency.

Reactions of Mr. Sushanto Roy, CEO, SPCL on Budget 2010

"I congratulate the Hon’ble Finance Minster for a very realistic budget. This budget goes on to prove present Government’s pragmatic approach instead of a populist one. The Hon’ble Finance Minister, Mr. Pranab Mukherjee has chosen a very balanced approach in devising the Budget for 2010-11. Though there are not too many big bang reform-centric announcements, but what has come as a relief to the markets is the absence of major negatives, barring the hike in MAT, increase in excise duties and increase in the levy of oil prices.

Despite higher social spending, the government did not overshoot its FY10 fiscal deficit target of 6.8 per cent by too much. Also the Government has announced a roadmap to bring down the deficit in coming years with FY11 target at 5.5 per cent. The focus of the budget on rural infrastructure, other developmental & employment generating schemes in rural India will ensure continuation of rural consumption demand which will help in economic growth.

I expect the realty and infrastructure sectors to gain from this budget. The infrastructure sector shall get benefited from higher government allocation and from the proposal of a deduction of Rs.20,000 towards investment in infra bonds. The realty sector would also benefit from continued focus on strengthening existing affordable housing schemes, extension of tax exemption period for real estate projects from existing 4 years to 5 years and extension of 1% interest subvention scheme on housing loan. All such measures will have positive impact on the real estate sector.

To summarize it, I will say that overall the budget has been positive for all the sectors. Though the Hon’ble Finance Minister has laid emphasis on consolidating the economic recovery, improving investment environment, inclusive development, strengthening transparency and public accountability, however it will be a tight rope walk for the government to deliver its promise of inclusive growth."

Sahara City Homes becomes the first Integrated Townships to be awarded IMS certification

Certificate for taking care of Quality and Environment Management, Occupational Health & Safety Management and Social Accountability

Sahara City Homes becomes the first townships to be awarded with Integrated Management System (IMS) certification for its Lucknow (191.24 acres), Nagpur (106.65 acres) and Indore (88.47 acres) Townships. Integrated Management System involves integration of one or more management systems. Sahara City Homes Townships at Lucknow, Nagpur and Indore have been conferred with ISO 9001:2008 (Quality Management System), ISO 14001:2004 (Environment Management System), BS OHSAS 18001:2007 (Occupational Health & Safety Management System) and SA 8000:2008 (Social Accountability System) as an acknowledgment to its ability to meet its objectives and at the same time ensure that the interests of customers are rightly met.

Speaking on the occasion Mr. Sushanto Roy – CEO, Sahara Prime City Limited said, “We are committed to achieve customer satisfaction by ensuring excellence of performance in all our offerings and services. We have created and developed an environment that ensures continual improvement in our business processes. In the same direction, this integration will help us in proactively meeting the expectations of customers, stakeholders and the requirements of the regulators while on the other hand will be useful in utilizing our resources more efficiently and effectively.”

SPCL has a vision to build integrated townships across 217 cities in India. The current business plan of the company is focused on developing 88 integrated townships under the “Sahara City Homes” brand name and 15 residential complexes under the “Sahara Grace” brand name across 99 cities in India. SPCL is currently developing 9 townships and one residential complex. Construction on 16 more townships is expected to commence within the next 12 months.

Each Sahara City Homes Township is spread on 88 to 300 acres and is designed in such a manner that each township accommodates 2,000 to 4,000 residential units. The residential units offered by the Sahara City Homes township includes high rise building apartments, duplex apartments, independent houses, row houses, semi-detached houses and bungalows.

The integrated townships are planned to be self-sufficient communities, with an array of commercial outlets and services which will be constructed in order to facilitate easy access of these amenities to the residents of the township. These will include a school, a hospital, a hotel, retail facilities, leisure facilities and other amenities, such as convenience stores, post offices and maintenance services. By placing these commercial centers around the periphery of integrated townships, the Sahara City Homes will be able to cater to both, the integrated township residents and also the customers that may reside outside of the integrated township.

The ISO 9001:2008 confirms that the senior management at Sahara Prime City Limited takes a strategic approach to their management processes and working practices, leading to streamlining operations, thereby reducing waste and improving business performance by effectively managing risks.

The ISO 14001:2004 certificate awarded to Sahara City Homes sets out standards on how one can go about putting in place an effective Environmental Management System (EMS). The standard is designed to address the delicate balance between maintaining profitability and reducing environmental impact; with the commitment of entire organization, it enables to achieve both objectives.

BS OHSAS 18000:2007 certificate to Sahara City Homes ensures a safe and healthy working environment by providing a framework that allows organization to consistently identify and control its health and safety risks, reduce the potential for accidents, aid legislative compliance and improve overall performance. SA 8000:2008 to Sahara City Homes certifies that the company is taking care of social responsibilities such as to develop, maintain and enforce policies & procedures that help in managing ethical practices and at the same time demonstrate total transparency to the stakeholders.

Pre-budget wish list of Mr. Sushanto Roy, CEO, Sahara Prime City Limited

· Given the pent-up demand for affordable housing which was discovered during the recent slowdown there is a need to reintroduce tax holiday under section 80IB for housing projects constructed after March 31, 2008.

· Tax holiday for hotels, under section 80ID should be extended to 10 years from existing time limit of 5 years, in view of the long gestation period for the industry.

· Early resolution and clarification on pending issues related to Real Estate Mutual Funds (REMF) and Real Estate Investment Trust (REIT)

· We also wish that Hon'ble Finance Minister will extend the benefit of external commercial borrowing scheme to the entire Indian real estate sector under automatic route including, Special Economic Zones (SEZ) and not just for development of townships, hotels, hospitals, with a view to benefit from low costs of borrowing internationally.

· Foreign direct investment in the real estate sector should not be subjected to the condition of minimum three year lock-in period for repatriation of the original foreign investment. This shall ensure availability of greater capital and liquidity for developers to fund their existing projects and growth.

· Grant of industry status to real estate sector will also help raise much needed construction capital at low cost domestically and has been a long pending demand from the sector.

· Stamp duty rates on property transactions to be rationalized or brought down and to be made uniform across all States.

· An upward revision to tax exemption to the extent of Rs 3.0 lakh compared to existing limit of Rs.1.50 lakh available on housing loan interest payment under section 24(b) of I-T Act will help boost demand for residential units.

· We also submit that the real estate regulator should be set up with an intention to make the system transparent, efficient and competitive and to protect the interests of consumers. It should serve as a platform wherein, if the developers have issues with local bodies, the regulator should assist the industry in addressing these issues.

Sahara solemnizes 101 marriages of underprivileged in its annual ‘Samuhik Vivah Samaroh’

Marriages of Hindu, Muslim, Sikh & Christian couples were solemnized in a grand ceremony

Organized since 2004 till date, 707 couples have been blessed

Sahara India Pariwar, a major business conglomerate, today solemnized 101 marriages of girls coming from the weaker section of the society, in its annual event ‘Samuhik Vivah Samaroh’. The Samaroh is organized every year by Sahara with huge fanfare at Sahara Shaher, Lucknow. The event witnesses 101 weddings of underprivileged girls from different religions, performed at one common venue. This year, 89 Hindus, 9 Muslims, 2 Sikhs and 1 Christian couple tied the knot on this auspicious occasion. The Samuhik Vivah Samaroh is being organized since 2004 and this is its seventh consecutive year. Till date, 707 couples have been blessed.

For the 101 marriages every year, Sahara invites applications from bride and groom families who can not bear the cost of marriage by themselves. After verification process, the applicants are included for the Samaroh.

All the marriage arrangements like fooding, clothing, lodging of the relatives, Welcoming of the Baraat, Kanyadaan, 101 Mandaps, etc. were made by Sahara India Pariwar. In addition to this, Sahara also helps all the newly wedded couples in initiating a new life. For this, Sahara gifts Rs. 1 lakh worth of basic household items to each couple. The gifts consist of Color Television, Refrigerator, Almirah, a double-bed, dressing table, jewelry, Suits to the groom, Sarees to the bride and wrist watch for both. Sahara even takes care of the delivery of these gifts at the couple’s house.

The whole ambience of Sahara Shaher was made enchantingly beautiful with decoration of flowers and Rangoli, amidst chants of marriage hymns with Shehnai being played in the background. Relatives danced with joy & revelry and had a feast of different dishes. The marriages of various communities were solemnised by the renowned priests of their respective communities. The Samaroh was conducted amidst a gathering of distinguished invitees and Kartavyayogi workers of Sahara India Pariwar, who extended their heartiest greetings to the newly wedded couples. This was followed by lunch organized for the newly wedded couples, their families and guests.

The newly wedded couples were bestowed with a photograph that featured all the 101 couples. The camera used for capturing this golden moment is the 1914 made special American Panoramic Kodak Still Camera which can rotate upto 360 degrees and produces a very sharp image. The same camera is also used to take pictures of newly elected Lok Sabha and Rajya Sabha Members.

Mr. Abhijit Sarkar, Head – Corporate Communications, Sahara India Pariwar, said, “Sahara India Pariwar has always kept corporate responsibility and social stewardship as an integral part of the organization and made determined efforts in the development of society and the nation. The annual ‘Samuhik Vivah Samaroh’ is one such step in the same direction.”

On this occasion, Reverend Smt. Chhabi Roy - Mother of Mr. Subrata Roy Sahara, cricketing sensation Mr. Yuvraj Singh, former Miss World and cine star Ms Diana Hayden, former captain and currently the manager of the Indian Hockey team Mr. Dhanraj Pillai, Smt. Swapna Roy - Dy. Managing Worker (P&W), Sahara India Pariwar, Smt. Kumkum Roy Choudhury, Dy. Director Worker, Sahara India Pariwar, Shri Ashok Roy Choudhury, Dy. Director Worker, Sahara India Pariwar, Mr. Abhijit Sarkar, Head – Corporate Communications, Sahara India Pariwar blessed the newly wed couples.

Aamby Valley City is now connected by air

A major step forward to make Aamby Valley first home

Aamby Valley City, in its constant endeavor of building Life’s finest abode is proud to introduce regular access by air to one of the finest airports in the country located at Aamby Valley

22 minutes is all it takes to get from Mumbai to Aamby Valley

Now Aamby Valley, first planned hill city of modern India, becomes first to offer Air services

The new services at the exclusive airport are presented to the World by
Hon’ble Minister of Civil aviation, Mr. Praful Patel in the august presence of Mr. Subrata Roy Sahara, Managing Worker and Chairman, Sahara India Pariwar and Mr. Seemanto Roy, Head - Aamby Valley City

Starting with 6 flights per week between Mumbai and Aamby Valley, the hill city plans to increase connectivity to more cities as well.

Aamby Valley City, announces the introduction six flights a week, regular, non-scheduled flights between Aamby Valley City and Mumbai, starting 5^th Feb 2010, enabling fast and easy access to Life’s finest abode. The services commenced with four flights today, three of them to Mumbai and one to Delhi. One of the flight carried Hon’ble Minister for Civil Aviation Mr. Praful Patel, Mr. Subrata Roy Sahara – Managing Worker & Chairman, Sahara India Pariwar and Mr. Seemanto Roy, Head- Aamby Valley City and a few existing customers of Aamby Valley City.

On this occasion Mr. Praful Patel congratulated Mr. Subrata Roy Sahara for starting much needed services to Aamby Valley, the closest city from Mumbai, which is connected by Air.

Mr. Subrata Roy Sahara, Managing Worker and Chairman, Sahara India Pariwar said, “Aamby Valley City is being developed with a view of making it the most sought after address in India. A first home for many, these services will add to the best city living experience for Aamby citizens and visitors.”

Mr. Seemanto Roy, Head – Aamby Valley City said, “It’s a momentous day for Aamby Valley City, as it becomes the first private city to offer regular and exclusive air access. To emphasize further people living in Mumbai and suburbs can actually look forward to shifting to modern hill city and continue to work in Mumbai. We want the citizens and visitors to use the service for their regular commute and have ensured price affordability for the same. Soon similar opportunities would be available to Pune residents as well.”

“These attractive priced services are also a boon for all those who have wanted to come to Aamby Valley from all over the world to buy an exclusive home or just for a short business or leisure trip and required quick air access. They can all connect with Aamby Valley flights at Mumbai and our services partner Air One, will facilitate smooth access to Aamby Valley.”

Currently, flights will take off from Mumbai and later air services to more cities will be added. With the introduction of this facility the citizens, business visitors and other guests can now reach Aamby Valley from Mumbai in 22 minutes. The travel experience to Aamby Valley is a sheer pleasure as the guest travel in luxuriously configured aircraft, go through one of the fastest and exclusive check in process both at Mumbai and Aamby Valley and enjoy the luxury of exquisite airport lounge at Aamby Valley.

Aamby Valley City is located between two metro cities Mumbai and Pune and hence connectivity by air definitely benefits the people flying in from these two major cities as well. It creates a new golden triangle.

With quick time air connectivity, Aamby Valley City now is an ideal business and leisure destination for an overnight dinner or a game of golf or even a sumptuous lunch with business associates in premium luxury environs. The service offered will bring the desire of many to work in Mumbai and live in Aamby Valley City.

This announcement is a great achievement for the City as it gives them an edge and reiterates the company’s key feature of setting benchmarks not only for themselves but for others to follow.

The air services are provided by Air One and the flights can be booked at www.airone.in or at 0124-4222204.