This are a few buildings which is more than 50-60 years old. I want to re-develop them. When redeveloped, these buildings will have added space, which could be sold or leased in the open market in the current market rate, which will be the income.
This is a redevelopment project - meaning existing building, which are dilapidated. Would be demolished and constructed with a new foundation and latest technique available, which will give a long and strong life to the newly constructed building.
I own a piece of land, and there are others who are my neighbours, who are also interested in redeveloping. If two or more neighbours who are next to each other then a cluster development can take place, giving more room and more space and everything big for the project.
For each project there will be paperwork from various department like the Municipal Corporation, etc. The project time will be between 30 months to 36 months at maximum. The cash payback period is 3 to 5 years. If the bookings are taken at a later stage, after the completion of the project, then the income is more, because the buyer gets the finished goods and next there is no interference by the buyer, which save a lot of time. The returns will start from the 3rd year. The ROI is more than 20% per year.
This is a good business, because the location of the plot is accessible. Walking distance to schools, banks, bus stops, railway stations, temples, churches, etc. The Municipal Corporation is also supporting addition-building areas.
The investors will get his ROI from the end of third year as a bullet payment i.e. Capital + Interest (mutually agreed upon)
There is a great demand for the place here because of strategic location. There is nearness to schools, colleges, banks, hospitals, place of worship, and etc.
The name of the plot is in my name. Currently I need finance to work my way up the ladder with the support of the investor. The neighbouring plots are waiting for my work and later they would work with me in a joint venture for their plots.
Addition funding is needed to relocate the existing occupants and get approvals from the agency and the consultant’s fees that would be joining in. Investors can contacts on Merar for more information.
This plot belongs to me. So I can take the entire decision.
The advantage is the strategic location.
The success can be sustainable. It can be repeated.