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Commercial / Residential Project Situated at Gurgaon City

Location

Near HUDA office.

Plot Area

The project has 32200 square yards land which falls in the municipal area of Gurgaon.

Status of Land

Company got plan approved for commercial cum residential building in year 1987 under section 205 of MC Act. Haryana which was challenged in the court by Haryana government but subsequently decree was obtained in favour of the builders by the High Court. The Supreme Court is also given jedgement in favour of the Builder.

 

There are 8 blocks of Residential purpose each block is GF + 7.5 floors.

 

1 block hotel - GF + 20 floors

 

1. block Commercial - GF + 20 floors.

 

Total proposed area is 68000 sq. mtr./ approx 700,000 sq. Ft. Appx.

 

Company at the presnt is under liquidation and can be restored as and when required. No present balance sheets are available. There are liablities approx to the tune of Rs. 5 crores which includes the bank and misc. Bank has already agreed for the one time settlement and the other parties have already been negotiated for one time settlement.

 

At present moment there are 2 structures standing on the land covering approx 50000 sq.ft of residential apartment that can be completed within 6 months.

 

In the year 1989 ministry of defence notifified the project as no construction was allowed within 1 KM of the ammunition depot of the air force. But Chandigarh high court has granted a stay order on the notification and since thenthe entire sector 14 and the surrounding areas have been developed (Civil writ No. 6669/98 - Anup Singh & others Vs Union of India, Chandigarh)

 

Presently the owner is ready to sell the project.

 

The entire land is freehold. All necessary documents pertaining to the property are available for inspection.

Demand

120
 

Profitability Equation  
R
Cost of Land (475000 sq.ft residetial + 225000 sq.ft. Commercial)
120.00
Construction Cost (475000x1100 + 225000x2500)
104.25
Expenses Marketing and commission etc.
15.00
Total projected Cost
239.25
Projected sales (475000x3500 + 225000x10000)
391.25
Profit Margin
152.00

 



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