Hello All ,

SARE group is about to launch a project in Navi Mumbai .. any Idea about the location and how is navi mumbai. As far as SARE group it's FDI so safe and there Gurgaon project is going well.

Any ideas are welcome ..

Real estate investment and development firm South Asian Real Estate has closed a deal for buying a 100-acre piece of land in Navi Mumbai from Mumbai-based developer Silver Oak. SARE and Silver Oak have set up a joint venture company, in which SARE will have a majority stake. The joint venture will develop an integrated township on the 100 acres, which will include mid-income residential development, mainly low-rise. The cost of the land parcel in Panvel is between Rs 150-200 crore, said a source close to the development, who did not wish to be named.
“The total cost of the project will be $350 million (Rs 1,575 crore) including construction expenditure and land acquisition. It will be financed through combination of customer advances, equity and debt,” said the source. SARE will infuse Rs 75 crore as equity contribution. Consulting firm Ernst & Young is running the transaction.
The joint venture company is expected to start work on the township in three-six months and is expected to take 5-7 years to finish the project. Many real estate developers are showing interest in projects around Navi Mumbai in the backdrop of several infrastructure initiatives being undertaken or announced by the government, including an international airport here.
Since 2006, SARE has raised Rs 2,000 crore and currently has around 40 million sq ft of property under construction through 8 projects across India. The Navi Mumbai integrated township will be the company’s second largest project in the country after its 112-acre township project at Old Mahabalipuram Road in Chennai. The company is looking at investing in a project spread over Rs 50-75 acres every quarter hereon, said another source.
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  • Strangely enough if you go to the website of the company the last financial statement is for the year 2008.. and actually there are no links.. so no idea where these figures spew up from...

    Maybe it is good.. but the means of finance.. customer advances (read suckers) is the only option as debt and equity is not going to work at all..

    So maybe not a good time to enter into UC properties..



    Originally Posted by aashuggn
    Hello All ,

    SARE group is about to launch a project in Navi Mumbai .. any Idea about the location and how is navi mumbai. As far as SARE group it's FDI so safe and there Gurgaon project is going well.

    Any ideas are welcome ..

    Real estate investment and development firm South Asian Real Estate has closed a deal for buying a 100-acre piece of land in Navi Mumbai from Mumbai-based developer Silver Oak. SARE and Silver Oak have set up a joint venture company, in which SARE will have a majority stake. The joint venture will develop an integrated township on the 100 acres, which will include mid-income residential development, mainly low-rise. The cost of the land parcel in Panvel is between Rs 150-200 crore, said a source close to the development, who did not wish to be named.
    “The total cost of the project will be $350 million (Rs 1,575 crore) including construction expenditure and land acquisition. It will be financed through combination of customer advances, equity and debt,” said the source. SARE will infuse Rs 75 crore as equity contribution. Consulting firm Ernst & Young is running the transaction.
    The joint venture company is expected to start work on the township in three-six months and is expected to take 5-7 years to finish the project. Many real estate developers are showing interest in projects around Navi Mumbai in the backdrop of several infrastructure initiatives being undertaken or announced by the government, including an international airport here.
    Since 2006, SARE has raised Rs 2,000 crore and currently has around 40 million sq ft of property under construction through 8 projects across India. The Navi Mumbai integrated township will be the company’s second largest project in the country after its 112-acre township project at Old Mahabalipuram Road in Chennai. The company is looking at investing in a project spread over Rs 50-75 acres every quarter hereon, said another source.
    CommentQuote
  • I noticed in one of the progres magazines by SARE Homes..They are also capturing Panvel in Cities list..Anybody having any idea on this launch ?

    Appreciate quick reply.


    Go through last page of this link ..http://www.saregroup.com/pdfs/construction-update-january-2012.pdf

    Rgds..



    Originally Posted by aashuggn
    Hello All ,

    SARE group is about to launch a project in Navi Mumbai .. any Idea about the location and how is navi mumbai. As far as SARE group it's FDI so safe and there Gurgaon project is going well.

    Any ideas are welcome ..

    Real estate investment and development firm South Asian Real Estate has closed a deal for buying a 100-acre piece of land in Navi Mumbai from Mumbai-based developer Silver Oak. SARE and Silver Oak have set up a joint venture company, in which SARE will have a majority stake. The joint venture will develop an integrated township on the 100 acres, which will include mid-income residential development, mainly low-rise. The cost of the land parcel in Panvel is between Rs 150-200 crore, said a source close to the development, who did not wish to be named.
    “The total cost of the project will be $350 million (Rs 1,575 crore) including construction expenditure and land acquisition. It will be financed through combination of customer advances, equity and debt,” said the source. SARE will infuse Rs 75 crore as equity contribution. Consulting firm Ernst & Young is running the transaction.
    The joint venture company is expected to start work on the township in three-six months and is expected to take 5-7 years to finish the project. Many real estate developers are showing interest in projects around Navi Mumbai in the backdrop of several infrastructure initiatives being undertaken or announced by the government, including an international airport here.
    Since 2006, SARE has raised Rs 2,000 crore and currently has around 40 million sq ft of property under construction through 8 projects across India. The Navi Mumbai integrated township will be the company’s second largest project in the country after its 112-acre township project at Old Mahabalipuram Road in Chennai. The company is looking at investing in a project spread over Rs 50-75 acres every quarter hereon, said another source.
    CommentQuote
  • They have put some details on the website now
    CommentQuote
  • Any Updates on this project ?
    CommentQuote
  • Originally Posted by aashuggn
    Any Updates on this project ?


    Dear Sir,

    Greetings from Sare Homes!

    With reference to your query we would request you to kindly contact our contact our CRM Team .
    Assuring you of our best services at all times.

    Sincere Regards,
    Team SARE Homes
    CommentQuote
  • I am not able to send you inbox message . Can you share the details of project on Forum . It will be helpful for all the readers.
    CommentQuote
  • Originally Posted by aashuggn
    I am not able to send you inbox message . Can you share the details of project on Forum . It will be helpful for all the readers.


    Dear Sir,

    Greetings from SARE Homes!

    Request you to kindly contact our information Team.

    Assuring you of our best services at all times.

    Sincere Regards,
    Team SARE Homes
    CommentQuote