A premium residential property development in Mumbai. One Tower, two wings. The project will be developed as one of the finest project on the market.
The company is looking for Venture Capital Funds or Private Equity Partners and shall be needing working capital of INR. 20 Cr. (US$ 4.4 Million) for completing the project successfully.
The average cost will be approximately INR 3200/= (Carpet) which includes the liaison cost, approvals, architectural plans, etc. Plus the TDR cost @ 2200 per Sq.Ft, for 27,000 Sq.Ft. means INR 4.78 Cr. Say INR 5 Cr. (1.1 Million US$ Approximately).
The project will be developed as one of the finest project in the market, as the Company will have possibilities of developing over 55,000 plus Sq. Ft. Carpet area, means after returning 27,000 Sq.Ft to the members, almost 50,000 Sq.Ft. Sper Built Up area. (Total Construction will be approximately 82000 to 83000 Sq.Ft. built up area).
Rear side will be allotted to the existing CHS resident members to the tune of 15 to 20 % increased area then the area they owning 21700 Sq.Ft. Remaining area will be available to the Company for sale in the open market. The indicative price as on date is Rs. 13,500/= per Sq.Ft Super Built up area. If the project is selling initiated after 1 year, every possibility that the 40% material can be sold @ Rs. 15,000 to 16,000 by the time the project is complete with the world class amenities are provided, developed, marketed and promoted this project as a premium project.
The anticipated constructed area of the project is 56,000 Sq. Ft. Carpet and approximate Built Up area shall be 75,000 to 80,000 Sq. Ft.
The members occupying approximately 21700 Sq.Ft. Carpet today, as informed by the authorities. The Company shall offer 10 to 20% additional area to the existing members / flat owners, means 27,000 Sq.Ft. carpet area will be returned to the existing members. The Company by providing excess area, shall compete with other developers, and to obtain this assignment in our favour. Remaining area will be available with us for selling in open market, which will be over 50,000 Sq.Ft.
The Company shall be needing working capital of INR. 20 Cr. (US$ 4.4 Million) for completing the project successfully, the company will keep looking for re-development opportunities in future and will be looking for Venture Capital Funds, private equity partners to mobilize means for the project. The Company shall be joining hands with other Companies for various synergies to broad base the project Designing, Marketing, development, Publicity and Promotion at an appropriate time.
Exit Route to the VC Funder :
The Company shall acquire a Public Limited Company, Listed on BSE (Mumbai Stock Exchange) (Already Negotiated) Once the V C Fund is mobilized, the Company shall allocate 20 % shares stake to the V.C. Funds, and then Change Companies Main Object. The V.C. Funds can liquidate the Shares after 5 Years, as well as the Company shall offer a Buyback @ INR 25 per Share (providing 2.5 times minimum return.) and if the shares are quoted over and above the offered price, the VC Fund can liquidate it by placing it to private equity holders.
If you are interested investors, please contact us on Merar for more information.