Kiara Kronicle | Newsletter

Dear friends and colleagues,
I wish and hope that this newsletter finds you safe and in good health. It gives me great contentment and satisfaction to announce that the three towers – B1, B2, and B3 – are now ready. The structural work of the three towers has been completed and the interior work would be completed in the next fortnight. As I mentioned in the earlier newsletter, the lifts have also been installed and are functional. This is a great achievement considering the various challenges which we all faced during the entire construction, COVID-19 being the most noteworthy.

The sight of the towers bestows a feeling of nostalgia and they lend a resplendent quality to the surroundings. Those customers who have booked their homes in the initial phase of the construction activity would also be able to reminisce about this experience.

It is often mentioned that the accessibility and convenience of urban amenities contribute to the quality of urban life experiences. As society
changes and evolves, so to do people’s quality of life requirements and aspirations. Hence, there are clearly acknowledged linkages between the provision of varied urban amenities and changing lifestyles and aspirations. Increasing ethnic diversity through globalization also contributes to urbanism trends as new city residents bring their own understandings of intensification and the relationship between urban amenities and perceived quality of life.

Dear friends and colleagues,
I wish and hope that this newsletter finds you safe and in good health. Holi is just around the corner and hence this newsletter is splashed with various colours. This ancient festival heralds the arrival of spring after winter, it also signifies the triumph of good over evil and is celebrated as a day for spreading the colours of our great country. The Kiara Residency project also celebrated Holi by organizing a get-together of our partners, which included customers, bankers, brokers, and the staff working on the site. I wish to thank you wholeheartedly for the great response and hope and wish you all enjoyed the event. Incidentally, the main gate of the project was also inaugurated on the day we had this event.

The work in your Kiara Residency project is progressing rapidly. In this newsletter (as in earlier newsletters), I make it a point to ensure, that an analysis of the current status of the construction work is presented to you along with some of the initiatives, which have been adopted by Kiara.

The elevators which I had made a mention of in the earlier newsletter, have now been installed and are functional. This will ensure that all the visitors to the site are enabled to use the elevators to reach their respective units. I recently used the elevators to ascertain the progress of the project, on all the floors, and I was particularly amazed by the view from the
top floors of the buildings. Those customers who have already purchased units on the top floors or those who are in a process of doing so should consider themselves as quite fortunate.

Dear friends and colleagues,
I wish and hope that this newsletter finds you safe and in good condition. I also wish and hope that you must have had a cracking Diwali. The Diwali of 2021 has probably been the most anticipated as the one in 2020 was rather subdued because of the outbreak of the global pandemic. However, as I am sharing my thoughts with you, a new variant of the SARS-CoV-2 virus, named ‘Omicron’ has spread its tentacles across the globe. Researchers opine that this mutated virus has the potential to spread faster than the original SARS-CoV-2 virus. Considering this, it is of paramount importance that we continue to follow all the safety precautions, which we started and diligently followed during the surge of the previous pandemic.

The work in your ‘Kiara Residency’ project is progressing rapidly. In this newsletter, I intend to analyze the current status of the construction work and also share with you some initiatives, which have been adopted by Kiara, very recently. It is to the credit of our employees and the contractors (whom we consider as our partners) that we have been able to rapidly make progress in the construction of the behemoth ‘Kiara Residency’ project. This has been achieved despite the various stoppages, directly and indirectly, resulting from the global pandemic. Some key milestones of the work completed in percentages are as follows: 100% of RCC work is completed, 70% of external plasterwork, 84% of the internal plasterwork, 94% of the block work, 93% of the fixing of door frames, 27% of waterproofing work, and 84% of the fixing of railings.

Dear Friends & Colleagues,

I wish and hope that this newsletter finds you safe and in good health. As I am penning this article, thankfully, the spread of the COVID-19 pandemic in India seems to have been controlled, as is evidentin the reduced number of cases. However, we all need to continue to adopt the precautionary and safety protocols, to ensure that every imminent and looming third wave is not as horrific as the first two ones.

The work in your ‘Kiara Residency’ project is progressing rapidly. We have completed the structural work for the three towers, the painting, flooring, plumbing and other allied work has already commenced. The main entrance gate has been erected and we have now started working on the amenities of the project. It is the right time for you to visit the site to witness your future home.

In this newsletter, I intend to share some details about the significance of ‘specifications’ in a real estate project.

Dear Friends & Colleagues,
I wish and hope that this newsletter finds you safe and in good health. The rapid spread of the COVID-19 pandemic has created an unprecedented environment and in these testing times, I wish to reach out to you to make sure that you and your near ones are safe. At Kiara, our customers, contractors, partners, employees, and community at large are always our priority, and through this newsletter, we attempt to
build relationships apart from enriching lives.

India finds itself in the grips of the second wave of infections, although most of the cases have been concentrated in six states. In the states where cases have spiked, the governments have been quick to impose limits on movement, leading to concerns that such localized lockdowns may hamper economic recovery. All said and done, the economic recovery is likely to be delayed because of these sudden aberrations, but given the resilience shown in the past, the future is certainly going to be bright.

Regardless of these unfortunate but challenging circumstances, the construction activity in your ‘Kiara Residency’ project continues uninterrupted. As a matter of fact, I am delighted to advise you we have now almost completed the entire structure of the project i.e., the three towers have been constructed, the imposing main gate signifying the entrance to this beautiful project has been erected and the work on the boundary wall is in progress. The completion of the structure and the other activities has now provided the much needed ‘form’ of this edifice.

Dear Friends & Colleagues,
As the effects of COVID -19 are felt around the world, real estate in general is being impacted in many different ways. The human and business impact of the COVID-19 pandemic continues to unfold globally. The rapid pace at which the pandemic is spreading and global actions to curtail it are having an unprecedented impact on the way we live and do business. While it is early to fully understand the impact of these events, history can serve as a valuable source of information as we look forward. Over the past century, external shocks such as an epidemic or a pandemic followed by an economic downturn have had an immediate to short-term impact on commercial real estate (CRE) asset prices, but minimal influence on transaction activity. However, the CRE industry recovered from these events at varying paces. While event-oriented downturns showed a quicker rebound, longer-term events, such as the 2008 recession, resulted in a more protracted recovery. As a rule of thumb, the industry has historically lagged the broader economy by six months in terms of experiencing the effects. But the expansiveness, depth, and unprecedented reach of this pandemic has started impacting the CRE industry much sooner. The evolving economic situation has had a significant influence on property owners, brokers, developers, and prospective home buyers.

It is with pride that I can advise you that your ‘Kiara Residency’ project, although impacted by the global pandemic, has progressed unabatedly. The pandemic – enforced lockdown was forced in the second half of March 2020 and due to this the construction in the ‘Kiara Residency…