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The project has total developable area of 50,649 sq. ft. and 37,532 sq. ft. is the total saleable area. The
estimated cost of the project is Rs. 4,454.70 lakhs.
The project is a 12 storeys domicile with one private apartment on each floor. It also offers terrace apartment on
the third level and pent house and duplex apartment with decks on the top floor.
The project is based on the concept of green building. Hence, it offers double glazed French windows to
optimize lighting, save energy and create a sense of serene airiness. Each residence has Variable Refrigerant
Volume system (VRV System) for air conditioning, video door phones, private in-unit alarm systems that
allows residents to view entry door and Wi-fi and direct to home satellite system for all the residents. It also
provides amenities like servant toilets, utility areas, drying areas and personal planter areas with decks, multi-
security with gated entry and swipe card lobby access.
Our Company commenced the construction of the project in March, 2010 and expect to complete it by the third
quarter of 2012-13.
2.
X’enus
X’enus is a commercial as well as a residential project. The plot area of the project measures approx. 9,294.72
sq. ft. and is located at Matunga, Mumbai. Our Company has acquired the development rights of CTS No. 545
of Matunga division admeasuring 3,412.19 sq. ft. by entering into a Joint Development agreement with Mr.
Ramniklal Joshi and Mrs. Bharati Joshi on May 15, 2009 and has acquired the adjoining property bearing CTS
No. 2/545 of Matunga division 5,882.53 sq. ft. from Mr. Govind Dhamanmal Gajaria and others.
The project shall have total developable area of 62,511 sq. ft. and total net saleable area of 24,123 sq. ft. after
re-housing of existing tenants by giving the fully constructed area of 12,539 sq. ft. (carpet area). The estimated
cost of the project is Rs. 2,972.80 lakhs.
This project shall be an ideal space for shops, commercial offices, banquets, exhibition hall, conference room
and business centre. It shall apt for professional small office setups. The project shall also offer residential area
with each apartment to provide maximum usable area.
3.
X’point
X’point is a commercial and residential project. The plot area of the project is 47,491 sq. ft. and is located at
Kandivali, Mumbai. Our Company has acquired the development rights of the aforesaid plot of land by entering
into a Joint Development agreement with the Prem Bhavna Co-operative Housing Society Limited on May 7,
2010.
The project shall have total net saleable area of 80,227 sq. ft. after re-housing of existing members of the
Society by giving fully constructed area of 49,400 sq. ft. (carpet area). The estimated cost of the project is Rs.
8,509.40 lakhs.
This project shall be situated at the prime location of Kandivali and be surrounded by commercial space,
shopping space and a hospital. Our project is suitable for shops, commercial offices, conference and exhibition
centers.
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Property Development and Execution Methodology
The following is a summary of the key aspects of our property development project and execution
methodology.
Land Identification, Market Research and Analysis
We believe that site selection is one of the key factors in determining the success of a new project. Accordingly,
we place a strong emphasis on selecting what we believe are the best locations for our projects. We commence
project conceptualization after site selection is completed. Our site selection process is led by our senior
managers, supported by external consultants and brokers. We conduct market research and analysis and apply
the experience and knowledge of our management team in selecting real estate for development.
We select sites for our projects based on a variety of factors including:
Demographic and marketing studies conducted by the Company or by third parties;
Suitability for development within one to six years from the date of commencement of the development
process;
Suitability of the site for the project conceptualized by us;
Financial review as to the feasibility of the proposed project, including profit margins and return on capital
employed;
Our ability to secure statutory permissions, approvals and entitlements;
Environmental and legal due diligence;
Competition in the area;
Proximity to local traffic corridors and amenities;
Profile of the inhabitants in the location and infrastructure facilities; and
Management's judgment as to the real estate market and economic trends and our experience in a particular
market.
Land Acquisition
We generally purchase/ acquire land for our projects through direct negotiations with the vendor. In case of
redevelopment project, we acquire land through negotiation with society, landlord, tenant, etc. as the case may
be. Once we have identified the land for acquisition and we have ascertained the feasibility of developing the
property, our acquisition team starts the process of acquisition. A broker often works as the intermediary for
setting up the initial communication between the parties.
Legal and Regulatory
Once the project land is identified, the property is referred to our legal counsel for preliminary due diligence.
Our legal counsel reviews the property documents to determine if the property is free from disputes and
encumbrances, to ensure that the vendor or the Society/Landlord has a clear and marketable title to the property
and to determine which regulations, consents and approvals will be required for the proposed development. The
legal counsel then submits a due diligence finding to our management who decide whether the project should be
pursued.
Target Land
Identification,
Market Research
and Analysis
Project
Conceptualization
Land Acquisition
Planning and
Design
Construction Work
Completion /
Handover, Sales
After Sales
Services Property
Maintenance and
Management
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