- Country: India
- Industry: Real Estate
- Stage: Start-up
- Investment size: $2,500,000 / min. $2,500,000
We are looking for investor to develop a low-cost housing project to cater the acute shortage of houses in Nainital district, Uttrakhand, India.
Nainital is the 2nd largest town in Uttrakhand, India and has been identified as a Millennium city. It is the regional capital of the Kumaon region and is being its major commercial trading and industrial centre.
The city growth rate is currently 4.0% per annum and is supposed to grow double with regard to other developments.
Unfortunately, the residential construction has not kept in pace with the city growth, and currently Nainital faces a housing crisis. Within Uttarakhand it rates 2nd to Dehradoon for housing demand, especially in terms of medium to low-cost affordable housing.
As having a penthouse or villa is every Indian’s dream and the spending power of the Indians is rapidly growing, this will be a hot cake project.
The area to be developed lies on a 17.95 hectares plot located in Bhimtal or Mukteshwar area. The plot lies northeast of the city of Bhimtal and is just 7 km from city centre. It is located 5 km from Mukteshwar / Haldwani –Nainital bypass road
Each house will be built on a 0.03 hectares plot with separate title deeds. It will have a car porch and D.SQ.
There is no competitor in that area. We will be the first to enter a township project in the Nainital area of Uttrakhand.
Rationale for the deal
With no competition in the market we can set the benchmark.
Use of financing
The fund will be used for purchase of land and construction.
Opportunity for the investor
Any investor with an open approach towards real estate in India is acceptable. Expected payback period is around 8-9 months. Both hands-on and silent investors are invited. The investor will have a say in everything including the share pattern. We expect ROI of 80% in 20 months.
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