Real Estate company looking for investment

By Admin | 4 Jul, 2020

Real Estate company looking for investment
Listing Id #2006082712
Overview of the real estate company:
Total area of the plot is 51,159 sq mts. Plan has been sanctioned for 2,62,000 sq ft of sellable area consisting of 326 units. Project has been divided into 2 phases. The construction of phase 1 of 216 units ad-measuring 1,67,000 sq ft is approx. 60-70% completed. The phase 1 is registered under RERA. Out of the 216 units under construction, 199 units are sold. The revenue receivable is from the said sale is between 13-14 crs. The balance cost of construction is also 13-14 crs. Phase 2 is not registered under RERA consisting of 110 units approx ad-measuring 95,000 sq ft.
The revenue quoted above is advance receipt from sale of units from customers.
Utilization of proceeds:
The proceeds will be utilised in completion of phase 1 and starting of phase 2. The bank has failed to disburse the sanctioned loan amount due to lack of funds with them. Thus, we are looking for financing/JV/Equity/Investor partner.
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