Work is on in eight of these projects and the company will start delivering flats by the year-end and complete the process of possession in the rest of the projects within 18 months to 36 months, depending on the size of the project, a press release from KUL said. Wow!Pune-based realty developer Kumar Urban Development Limited (KUL) today said it had taken up 18 redevelopment projects, including two skyscrapers, in Mumbai with an initial investment of around Rs 500 crores.
"Redevelopment is the future of real estate in Mumbai that faces severe constraints on the availability of open land within the city limits," KUL Chairman & Managing Director Lalitkumar Jain said.
"On the one hand the demand for housing stock is rapidly growing in the city, while on the other there are thousands of ageing buildings which are dilapidated and have reached a stage where it is not possible to carry out structural repairs. Moreover, their rehabilitation does not make economic sense, and it is better to construct new buildings instead," Mr Jain, who is also the Vice-President of the Confederation of Real Estate Developers Associations of India (CREDAI), said.
According to the release, KUL has filed its Draft Red Herring Prospectus (DRHP) with the regulator Securities and Exchange Board of India (SEBI) seeking to launch its initial public offer (IPO) to raise up to Rs 450 crores.
To read more, please, visit NetIndian
Related Stories:
1) THURSDAY, OCTOBER 1, 2009Kumar Builders join the IPO bandwagon
Lalitkumar Jain plans Rs 400-500 crore Nirvana!
2) FRIDAY, DECEMBER 4, 2009
Realtors move to metro peripheries for villa projects
However, Kumar Builders launch "Kumar Couture", 24 sky-villas, in Worli, Mumbai!
3) FRIDAY, MAY 22, 2009
Kumar Builders' 45 Nirvana Hills at Paud phata on Karve road in Kothrud Pune
"Not for the young out of town IT guys!"
4) FRIDAY, MAY 22, 2009
Kumar Builders open booking of the first 30 stories skyscraper in Pune, 45 Nirvana Hills, first phase of 79 acre township at Paud phata on Karve road
Property rate Rs. 4,500 per sq.ft.
(on saleable area)!
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God save the souls who want to invest in their IPO
ReplyDeleteyes agree, these are desperate attempts to save IPO which certaily going to bust unless he manages some dumb fund managers which also can not be rules out. See everything is possible in INDIA thats why we are seen now as land of opportunities (or land of fools) by western fund managers. thee is saying which goes.."there is fol born every minute" and they are so active that until they fall in some trap..they can't rest in peace.
ReplyDeletelet the FED interests start climbing and see how the party gets over.
for those curious investors if still out there about the RE IPOs by an investment guru and expert -
ReplyDeletehttp://www.blog.happionaire.com/2010/02/ipo-incredibly-pathetic-offerings-and.html
What a sham !!! KB Management must be really insensitive to its past customers who have been pleading with them to complete the half completed projects. Case in point, Kumar Shantiniketan..this project was supposed to be one of their premium properties...the fact remains that this project is atleast 3 yrs. behind schedule..most of the amenities as shown in brochure are missing...poor construction quality…low grade materials…pathetic customer service…callous KB management…thick skin attitude by their CRM personnels…the whole project was sold as mere hype, which we the customers are coming to realize in all these years…the fact of matter remains that KB is a bunch of fraudsters of the highest order. GOD SAVE THE NEW CUSTOMERS from getting cheated and throw away their hard earned life time savings.
ReplyDeleteHi Saviour
ReplyDeleteKumar Builders have a long track record for the last decades. Our clients will vouch the quality delivered by us. When it comes to building trust of clients our name is foremost & a brand to recommend. The chairman of the company & his team has work relentlessly to build the reputation. Projects like Kubera Sankul, Hillscapes, and Cerebrum have not only delivered before time but exceeded every client expectations. When it comes to delay in certain cases we are not only forthright with our clients but also incredibly accommodating. We have not only interacted personally with all the clients but also compensate for any inconvenience that we may have caused. This initiative is not only being appreciated & applauded by the clients but also proves our sincerity & commitment in delivering excellence at every stage to our consumer. We are very transparent in our dealings & we ensure that the clients are well informed by a customer guideline created exclusively by us for every client individually so that they are well aware of the commitment made by us & to educate our clients on every aspect of the product. You will find that the amenities delivered by us are better than shown in any brochure. KUL provides possession check list to each customer before possession & only after customer’s satisfaction on each point possession is handed over. KUL has provided customer help line nos. to all to give the best of services. In an attempt to show some of you reading this the trend setting work done by chairman of the company & his team we request you to visit the following links, showing the kind of research done & initiative taken to deliver the best. We are incredibley passionate about building homes & life spaces. We believe that the life is a climb but the view is beautiful. It is the people whose life we touch in this journey that comprises the family of KUL. Our new name reflects our age old values & commitment.
Please find below, the completed pictures of Kumar Shantiniketan. We look forward to your feedback from our KUL family members. http://on.fb.me/dep4Ep
I somehow don't agree with the above mentioned comments. When I booked my flat with Kumar Builders in pune I did tremendous research in terms of realty investment and going with their name I booked my first ever flat at Shantiniketan. I got the possession by 2010 start and I am currently resding in shantiniketan. I am afraid but I have not really had any such major issues that have been mentioned above. My flat is spacious with all the necessary amenities and the premises are good enough.
ReplyDelete