An old western concept, they are a new market in corporatised India
Relocating to a new city and looking for a cost-effective, comfortable and convenient accommodation? Service apartments, long known to the West, are the latest buzz here for long-staying guests, giving them the comfort and convenience of a home without the hassles of having to maintain or look after it.
Ideally suited for medium to long visits, service apartments are a natural choice for corporate employees or expatriates relocating to a particular city. A service apartment offers the privacy, space and comfort of a house and at the same time gives you the services and amenities of a hotel.
The concept of service apartments, though a recent phenomenon in India, is an established global concept. Villas in Spain, flats in the UK, apartment complexes in the US, have all created a vibrant and viable market for those wanting more than just a room in a hotel. It is also a convenient and cost-effective alternative to ordinary accommodation options.
Service apartments are particularly popular with business travellers, both mid-level and senior management level business executives. Other patrons include expatriates, non-resident Indians visiting the country for long spells, people renovating their homes and of course foreigners visiting the city for long durations.
In north India, the emerging suburbs of the Capital, Gurgaon and Noida have practically become the base of commercial activities and this development has prompted a flurry of activities in the service apartment sector in Delhi. Other big players include CB Richard Ellis, DLF Gymkhana and Select Hotels. The Gupta-Jain-owned Clarion Luxor in New Delhi and The Orchid Park Plaza in Bangalore also have service apartments.
Already operational is Savoy Suites in Noida, targeted only at the specific requirements of middle and senior level business personnel travelling for a typically more than a week. It is a 44-unit apartment complex, each with a generous living area, kitchenette, bedroom and spacious bathroom.
More: financialexpress.com
Send an E-Mail for Gurgaon Property Enquiry!
Related News from Gurgaon
India seeks higher-value outsourcing work
In an office in the southern port city of Chennai, Indian analysts pore over stock market data for a London-based fund company, searching for investment opportunities. Some 1,200 miles away in Gurgaon, on the outskirts of Delhi, Indian lawyers have taken over research and patent filing for several Western technology and healthcare companies. These are examples of knowledge process outsourcing (KPO), a new fad across India, where companies are trying to move up the value chain and away from call centres staffed by young people tutored in American accents. More : reuters.com
Builders to take a hit as realty prices fall
Real-estate developers could see their operating margins, fattened by a two-year housing boom, shrivel this year by half as property prices soften and consumers postpone buying decisions, according to a new report by multinational broking firm First Global. Residential units account for about 75% of the real-estate market and have a strong impact on developers profitability. First Global said developers expansion plans could result in an oversupply of houses in some markets. Some 10 large Indian builders expect to construct about nine times as much as they built in the past by 2011, according to a First Global analysis. The report said
India’s retailers change fast as Wal-Mart waits
NEW DELHI (Reuters) - In the New Delhi suburb Gurgaon, shiny new shopping malls line the main street, housing Western brands ranging from apparel retailer Benetton Group (BNG.MI: Quote, Profile, Research) to restaurant chain Ruby Tuesday (RI.N: Quote, Profile, Research). In India's largest city, Mumbai, an electronics store draws crowds of customers by listing discounted prices on flat-panel televisions and refrigerators -- a major shift for shoppers accustomed to haggling with small, independent shopkeepers. India's fast-growing, young, urban middle class is driving a retailing revolution, bringing Western-style formats including hypermarkets, department stores, specialty chains and even dollar stores. As many as 250
Gurgaon: Properties News: What foreign expats feel about working in India
The outsourcing and IT boom has led to a deluge of foreign expats in India. But how do they feel about working in India? Has their experience with managers in India been positive? Most foreign expats think that Indian managers are over-confident, immature and think themselves to be more knowledgeable than their foreign clients. Says Michael Anderson, COO of a US-based BPO in Gurgaon: “Indian managers lack honesty. One of the clients I know wanted to upgrade headcount at his India centre from 20 to 100 in three weeks. The Indian manager said yes very confidently. But failed to deliver.
Toshiba Scales Up Retail Thrust With Concept Store
The computer systems division of Toshiba Singapore Pte. Ltd., in partnership with HCL Infosystems, has unveiled a series of new concept stores named shopToshiba for its mobile computing products for the home, SOHO and SMB customers. In the first phase of rollout, the two companies have established seven shopToshiba stores in Delhi, Pune, Bangalore, Hyderabad, Gurgaon and Mumbai. The two partners plan to extend this network of exclusive retail stores to 15 cities by the end of 2006. L. Ramprasad, associate vice president-Toshiba mobile computing business, HCL Infosystems, said, This initiative will add a new dimension to the retailing of