Real Estate Newsin Property Time |Property News ! Tue Nov 26, 2013 7:18 am
by Noida real Estate
Four Seasons' Noida proj with 3C priced at Rs 20-22cr/aptmt
The realty sector is going through one of its worst ever phases, with rating agency Liases Foras saying unsold inventory is at an all time high in Mumbai and National Capital Region (NCR). The firm predicts it will take developers almost five years to sell the current unsold stock in Mumbai and 3.5 years in NCR. But none of that seems to be stopping Four Seasons from chalking out India plans for luxury housing. Four Seasons, owned by Bill Gates and Saudi Arabia's prince Alwaleed Bin Talal, is planning branded residences in Mumbai on a plot next to its existing hotel as well in Bangalore and Goa. This is in addition to a project called Delhi One, but is located in the capital's outskirts at Noida. Delhi One was officially launched this November and should be ready in 2016.
Vidur Bharadwaj, director, The 3C Company says “What makes it unique is that it is a mixed land use project where you have Four Seasons hotel, the Four Season residences, a very high end luxury retail in the lines of Emporio and office space. So, it is a great location because it is right at the skin of Delhi. It is on the DND Flyway. So, you pay the toll and you enter the project. It has all these great components, so, you can live here, eat there, exercise there, go to work there, walk to work, it is the epitome of luxury.” Being built by local developer 3C, the starting price of an apartment here is a whopping Rs 20-22 crore for a 7500 square feet of super area not carpet area. The basic price has been fixed at Rs 25000 a square feet but the final ticket price will also depend on the bouquet of services a buyer chooses. Chris Hart, president, Hotel Ops (Asia Pacific), Four Seasons Hotels says “There will be options, if they want a dog walking or any particular type of service or if they want a daily housekeeping, or they need a chef for catering or engineering type of services, we can provide them an ala-carte sort of offering.” “There are two kinds of services, one that are mandatory like the concierge service, the common area housekeeping, the post service, all the high end services, anything and everything which Four Seasons Hotel offers when you are living in the hotel. Then there is housekeeping, there is room service which is ala-carte menu. You can even get the chef of the Four Seasons to come and cook Sushi for you in your residence. So, imagine living in a presidential suite at the Four Seasons Hotel and multiplying the area by 5 times,” explains Bharadwaj. There will be six bigger apartments having a super area of 15,000 square feet, but that's not being sold just yet. It’s pretty clear 3C is charging top dollar for getting these luxury residences branded by the Four Seasons Hotel. What happens if this partnership were to fall through? Hart says “Four Seasons is here for the long term. It is a management contract, so, like any contract it could be broken, both parties have to live up to certain expectations. We try to choose our partners very carefully. We have been very impressed with 3C and what they have accomplished in the last 10-12 years.” Bharadwaj further adds “The maintenance package is all being done by Four Seasons at a very reasonable price which is on a cost plus basis which is what we have signed up with Four Seasons. Everything is being maintained by them, all the services are by Four Seasons, there is 80 year contract with them, more than a lifetime. It is with 25 years non-compete. So, there will be no other Four Seasons in Noida or Delhi for the next 25 odd years.”
Source Money Control
RE: Real Estate Newsin Property Time |Property News ! Wed Dec 04, 2013 12:01 pm
by ombuilder000 • 2 Posts
The real estate industry has seen its development due to easy availability of raw materials and labor. Many construction companies are investing a lot in all parts of the country to give India a new look. Today, we can see and better quality flats, houses, cottages, villas, office buildings, shopping malls with great architectural designs all across the nation and this has happened only to the hard work and dedication of the construction companies.
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