India Real Estate Monitor » Amritsar

India’s First BOP Studios

Wed, 16 Jun 2010 16:19:14 +0000

PA very ambitious and unique project has been announced by a Better Option Propmart(BOP) a Delhi based Real Estate Management and Advisory firm. They are set to launch 15 Real Estate ‘boutique’ across the Northern India.

These will be first of its kind boutiques and will be known as ‘BOP Studio’. The idea is based on the model of any walk-in-store for property consultancy and purchase. It will have sit –in-consultants who will provide detailed and free counseling to every customer. The ambience will be of any high class store and will have the database of various projects in North India.

The Managing Director of the company, Mr. Amit Mavi said on the occasion, “You could walk-in, avail yourself of our free real estate consultancy and still not buy any property being showcased. Our aim is to bring the ‘consumer durable shopping experience’ to real estate buyers. We expect people to perceive BOP as a real estate advisory service provider rather than a mere property seller.”
The initial investment in the project is said to be huge that of at least 60 lacs per studio on the infrastructure alone. The firm plans to open 2,000 square feet street outlets at most of the hot spot destinations for Real Estate like Agra, Amritsar, Chandigarh, Jaipur, Lucknow, Kanpur, Noida, Meerut and others.

The studios will yield profit if they handle at least 10 projects every year and achieve sales of Rs. 150 cr per city. The financial engagement looks tough more so for Tier II cities as the average realization from residential projects there is lower than that in metro cities.

Will this idea become successful, only time will tell?

Small Developers Selling Their Land Due To Cash Crunch

Mon, 28 Jul 2008 13:59:46 +0000

Due to the depressed real estate market, all projects of small developers (grade C & D) are up for sale as no development has started because of severe cash crunch. And the big developers (grade A & B) are said to be scouting for these kinds of projects as they are proving to be more viable for them.
According to sources, this phenomenon is more evident in tier II cities but, slowly moving to metros as well.
Explaining the reasons, the sources said that whatever support was available in terms of short-term financing or private equity is now focused only on large developers with stronger balance sheets because of their ability to hold out longer.
Several smaller developers are so badly hit that they are choosing to sell their land parcels to larger developers. The cities that are witnessing these kind of transactions are Amritsar, Chandigarh, Karnal, NCR, Indore, Mumbai, Pune, Bangalore and Chennai.
In fact, small developers, reeling under the impact of cash crunch, feel that holding onto their projects will bleed them more, and thus they are forced to sell them to larger developers. A number of such damage-control transactions are expected in many smaller cities and metros.“Lack of liquidity is a very serious problem for almost all developers today.
The current environment is like a perfect storm for the developer community, as almost all sources of financing have dried up, at a time when the real estate markets may also be moving southwards. Having said that, it is the smaller developers who are worst affected — so badly hit that they are choosing to sell their land parcels to larger developers,” said Sandeep Singh, director, capital markets group, Cushman & Wakefield India:
A bigger impact of the liquidity crunch is from the bank-debt side. Banks are being very choosy about whom they are lending to and for what kind of project. While large developers are still able to get bank loans, it’s the smaller ones who are having a tough time. Most of the developers expanded so fast in the last three to five years that they do not now have any ability to pump in more of their personal equity in any given project.
Explains Pawan Swamy, MD, Jones Lang Lasalle Meghraj: “In this scenario, the smaller developer has an underperforming project that was not doing well to begin with. Regardless of the state of the market, he would wish to sell it off to a larger developer, since the project is not taking off in the first place. It is a straight forward transaction based on logic rather than the liquidity issue.”

Alpha One Mega Project In Amritsar

Wed, 23 Jul 2008 13:08:57 +0000

Delhi-based real estate developer and asset management company, Alpha G:Corp, key coalition associate in the pan-India conglomerate. G:Corp, has signed up a joint venture with property-owner in Punjab to conceptualize, design and develop the impressive Alpha One mega project in Amritsar. It will be spread over twenty five acres on G.T. Road. Alpha G:Corp was allotted the mega project status since it submitted the most superior development plan. The initial investment will be two hundred seventy crores rupees in the Ist phase and this is going to be a destination centre encompassing retail, entertainment, luxury hotel and stand-alone boutiques on a total space of 2 million sq. ft. The features in Phase 1 also include a two hundred room luxury boutique hotel under the brand name Ishta from the Ananda group of hotels, which alone will entail an investment of over one hundred crores rupees.

Street Of Dreams Of Emaar-MFG

Mon, 28 Jan 2008 13:02:16 +0000

19 January 2008. Emaar-MGF today introduced its new concept of style guide. This concept is named as “Street of Dreams”. It offers the buyers a preview of their concept villas, penthouse and apartments. Main aim of street of dreams is to provide different varieties to its customers. For this purpose, it has designed a style guide of international designs made by architects across the world for buyers to choose from. They have planned to do road shows for the marketing of this with their marketing supporter Hamptons.

Spread across 3,000 acres (three sectors), Mohali Hills is the flagship project of the group, being developed as an integrated township housing an international school (tie-up with Singapore-based school Raffles), hospital, multiplex, mall and commercial space besides 13-storey group housing units, plots and villas.

The concept villas, spanning across 300 to 500 square yards, have been designed as Andalusian (southern Spain), Mediterranean and Spanish and priced from Rs 99 lakh onwards. The apartments (cost Rs 47 lakh onwards) and penthouses (cost Rs 90 lakh onwards) have a Middle-East feel. Its villas are fetching a good response with about 50 villas having been sold til now in Sectors 108 and 109.

Emaar-MGF corporate communications head Anupama Chopra said that the company would have followed the same strategy as of “Street of Dreams” for its other large projects. The company currently has two large projects in Gurgaon and Hyderabad and it has plans to disclose its other projects in Ludhiana, Amritsar and Jalandhar in Punjab after its initial public offer for Rs 7,000 crore comes up this quarter.