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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Gurgaon > Chintels Paradiso, Sector 109, Gurgaon
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Old February 16 2011, 12:59 PM   #1
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Default Chintels Paradiso, Sector 109, Gurgaon

CHINTELS Group presents 3 & 4 BHK Group Housing in Sector- 109 Gurgaon. Spread over 12.36 acres the site has major USPs like;

  • 0 Km from Delhi.
  • A stone’s throw from the Dwarka Expressway with proposed Metro line.
  • 1 Km from Palam Vihar.
  • 0 Km from commercial.
  • 5 Km from IGI Airport.
Licensed project consist of spacious large size apartments of following configuration;
  • 3 BHK+3T - 1785 sft
  • 3 BHK+ 3T + SR - 1850 sft
  • 3 BHK+3T+SR - 2050 sft
  • 4 BHK+4T+SR - 2630 sft
  • 4BHK+4T+SR - 3150 sft

UNBEATABLE BSP PRICE: Rs 3275/- psft (only for limited time period and may be taken off anytime without notice)

Booking Amount: Rs 3 lacs for 3 BHK & Rs 4 lacs for 4 BHK in favor of "Chintels India Ltd. - Project Chintels Paradiso"
15% payment to be completed within 15 days
10% payment to be completed in next 60 days
Remaining Construction linked..


If price info is correct than it is interesting investment ?

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Old February 16 2011, 01:07 PM   #2
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Is it with Shobha Group??

What the track record of the group Chintels?

have the brokers started to take cheques?
 
Old February 16 2011, 01:22 PM   #3
 
 
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This is separate venture of Chintels & not with Sobha & cheques r being accepted .
 
Old February 16 2011, 01:37 PM   #4
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manoja is the project attractive
 
Old February 16 2011, 01:40 PM   #5
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Senior Members - Do you have any more information about Chintels?
 
Old February 16 2011, 01:52 PM   #6
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Quote:
Originally Posted by youngturk View Post
Senior Members - Do you have any more information about Chintels?
checked with a broker , hes offering me a price of 3275 -4%
 
Old February 16 2011, 02:18 PM   #7
 
 
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Chintels owns a massive Land bank on the D e way . In fact, they have sold some part of their holding to DLF & a few others . They have a JV with Sobha & QVC for another project, where the land belongs to Chintels .
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Old February 16 2011, 02:56 PM   #8
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Looks to be attractively priced. Anyone has more info to share about location and other charges.
 
Old February 16 2011, 03:02 PM   #9
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Many sectors on the Eway, especially 109 has good population, since the NPR Eway cuts the New Palam Vihar in two equal parts. It means that this area has an existing supply of electricity, sewers, water. Projects in these sectors wont require substantial time to become liveable. The negative is presence of a lot of middle class already in these sectors, as well as lower-middle class in nearby villages.

 
Old February 16 2011, 04:00 PM   #10
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Default CRISIL ‘B’ for CHINTELS INDIA’s bank facility

CRISIL has assigned its ‘B/Stable’ rating to the proposed bank facility of Chintels India Ltd (CIL). The rating reflects CIL’s exposure to funding- and saleability-related risks associated with its ongoing residential real estate project Chintels Serenity, and the company’s short track record in the real estate development business. These rating weaknesses are partially offset by CIL’s moderate financial risk profile marked by low gearing.
Outlook: Stable
CRISIL believe that CIL will scale up its operations gradually, supported by its experienced management team. The financial risk profile of the company is expected to remain moderate—its net worth is expected to remain average and its gearing, low, over the medium term. The outlook may be revised to ‘Positive’ if CIL generates more-than-expected cash accruals, driven by significant improvement in profitability as a result of timely completion of ongoing projects. Conversely, the outlook may be revised to ‘Negative’ if CIL’s debt servicing ability is adversely affected because of lesser-than-expected customer advances for its ongoing Chintels Serenity project.

About the Company
CIL, incorporated in 1985, is a part of the Chintel group, promoted and managed by Mr. Ashok Solomon and his family. The company commenced operations as a real estate consultant and a trader in agricultural land. In 2007, company entered into real estate development. Company is developing a 153-acre township in Gurgaon (Haryana) in joint venture with Sobha Developers Ltd (Sobha) and QVC Reality Company (QVC). CIL is also developing a group housing project, Chintels Serenity, in Gurgaon, with a total saleable area of 1.12 million square feet, for an investment of Rs.3407 million. The company will fund the project through term loan of Rs.300 million. CIL has already entered into a property development agreement (PDA) with land owners which are its group companies, Chintels Exports Pvt Ltd, Intels India Pvt Ltd, and Raj Kiran Pvt Ltd, and Mr. Ashok Solomon in his personal capacity. As per the agreement, CIL will purchase the land at Rs.1000 per square foot, amounting to Rs.938.1 million. CIL is proposing that the payment for land will happen after the full repayment of term loans contracted for the project. The project is expected to be launched by April 2011 and completed by April 2014.

CIL reported a profit after tax (PAT) of Rs.32.9 million on net revenues of Rs.3.6 million for 2009-10 (refers to financial year, April 1 to March 31), against a PAT of Rs.31.6 million on net revenues of Rs.6.5 million for 2008-09.
 
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