Property for sale , India
Prices from GBP £25,037
Ref: 85-347-211
1 Bedroom(s), 1 Bathroom(s) |
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* 7% net Guaranteed rent for 5yrs
* Excellent capial growth potential
* Only 5km from Special Economic Zone
* Beautiful, affordable villa project
Anticipated completion date: August 2009
Hill View
Situated only 5 km from upcoming MIDC Special Economic Zone (SEZ) Site at Poladpur, Mahabaleshwar and only 25 kms from Panchani Hill Station, an attractive tourist destination, Hill View Residential Project will provide valuable housing in line with the Indian Government’s plans to reduce the number of people residing within the heavily overpopulated City of Mumbai.
Hill View is easily accessible within 3 miles of the SEZ. It has been designed to accommodate the thousands of highly skilled technicians & management staff seeking affordable accommodation. Currently, no housing facilities exist in the area.
The project will provide luxurious accommodation and a high standard of living for the SEZ employees living there. Features of the project include
• A low density township set amidst 220 acres of lush green surroundings
• Open-air themed dining facilities, gymnasium and Club House available for all residents
• 24 hr security and intercom service. Individual parking allocations
• High quality finishes include granite and marble flooring, internet & satellite fittings, top quality
bathroom fittings
• Swimming pools, waterslides and children’s play area
• Multi cuisine restaurant and coffee shop.
• A tranquil escape from Mumbai’s over populated, polluted and un-affordable city centre
Special Economic Zones (SEZ’s)
• Special Economic Zones are tax free IT and manufacturing havens forming the backbone of India’s booming economy.
• These are based on a model originally developed in China: geographical regions with liberalised economic laws to encourage increased foreign investment.
• The most famous & successful SEZ is Shenzhen, China which developed from a small village into a city with a population of over 10
million within 20 years.
• Following the Chinese examples, SEZ’s are now established in Pakistan, India, Iran, Jordan, Poland, Kazakhstan, the Philippines,
Russia, and Ukraine.
• India currently has 811 units in operations in 8 functional SEZ's, each is an average size of 200 acres (0.81km2)
Maharashtra Industrial Development Corporation (MIDC)
• The only State Government Agency which has received formal approval for 11 SEZ’s whilst 7 more are proposed
• Have been responsible for some of Maharashtra’s most prestigious IT Parks, including Millennium Business Park and Rajiv Gandhi Infotech Park
• To date approved MIDC SEZ’s range from just under 1km2 to 32km2 in size
• Expected employment generation predictions range from 7,000 to 850,000 jobs created per site.
• $5.561million investment expected in the 11 approved sites alone
Maharashtra
Of India’s 28 states, Maharashtra is the most progressive and well administered in the country.
It’s capital, Mumbai (formerly Bombay), is the most populous city in India. The number of
people residing within the parameters of the city itself is estimated at approximately 13
million. It is arguably one of the most populated cities in the world, the total figure escalates to around 20 million when peripheral suburbs are included, forming the world's sixth most populous metropolitan area.
Maharashtra is India's leading industrial state, contributing 13% of national industrial output.
It is both the commercial and entertainment capital of the country, housing important
financialinstitutions, such as the Reserve Bank of India (RBI), the National Stock Exchange of India (NSE) and the corporate headquarters of numerous Indian companies. Bollywood, the multi billion dollar centre of India’s Hindi film and television industry is also located in Mumbai.
India's largest Stock Exchange, the Bombay Stock Exchange (among the five biggest SE’s in
the world), is also located in the city. 20% of India’s exports leave Maharashtra in the form of software from specialist parks (Special Economic Zones) throughout Maharashtra. Other major industries in Maharashtra include: chemical and associated products, textiles, petroleum and pharmaceuticals. Mumbai has attracted migrants from all across the country because of the immense business opportunities, and the relatively high standard of living, Real estate in desirable areas of Mumbai is not cheap. Undersupply of properties has driven prices in certain regions in Maharashtra to levels comparable with Europe’s larger cities. It is not uncommon to pay £2,500 - £5,000 per month to rent a three bedroom apartment, and to purchase such a unit, one would expect to pay approximately £500,000.00. A four bedroom apartment can easily achieve a monthly rental figure in the region of £7- 8,000.00 (purchase price of £1million), in the area of Bandra.
Payment Terms
• Non refundable reservation deposit: INR160,000 / €3,000/ £2,000
• 30% plus costs 7 days from Booking Form (less deposit)
• 6.5% net price at Boundary Walls
• 6.5% net price at Excavation and Filling
• 6.5% net price at Internal Demarcation & Road Levelling
• 6.5% net price at Drainage System
• 6.5% net price at Provision of Service Ducts & STP
• 6.5% net price at Public Amenities & Internal Roads
• 6.5% net price at Foundation & Plinth
• 6.5% net price at First Slab
• 6.5% net price at Completion of Structure
• 6.5% net price at Finishing
• 5% net price plus costs on Possession (Anticipated Aug 2009)
Costs of Purchase
All costs of purchase are included in the price list.
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