Channel partners eye big biz in Realty

Innovations seem to be the flavour of the season, especially for the real estate sector, which is anticipating a renewed growth, especially in the housing sector, in 2010.

With many big real estate players signing off their land banks in 2009 to generate resources, their channel partners seem to have gained immensely from it.

According to real estate experts, channel partners who had been trying to venture in development activities got a leeway by purchasing land from the developers who were willing to sell it. The real estate experts maintain that this type of agreement between developers and channel partner is win- win situation for both with big developers being able to generate resources while the channel partners having better understanding of the requirements of regional people leveraging their expertise.

Chandigarh-based Premium Acres Infratech Private Limited, that has been channel partners for renowned developers, has ventured in construction activities as the company announced its intention to construct villas in Mohali. The company purchased 30 acres in Mohali in the TDI city being developed by TDI, for which they have been channel partner.

Premium Acres Infratech Private Limited Managing Director, Sanjay Jain maintained that the company that was planning to start the construction of villas at Mohali soon, had also plans to launch residential, commercial and hospitality projects in Himachal Pradesh, Punjab and Haryana. The company is working on mix model to have land bank for construction activities- creating own land bank as well as purchasing land bank from developers.

Elaborating on the Mohali residential project, Jain maintained Premium Acres Infratech Private Limited planned to construct 300 plots and flats within the next 18 months. The investment for the project is estimated at Rs 150 crore, for which the company has arranged funding from private players as well as banks.

Jain added the company would be construction 200 villas titled Court Yard Platinum villa, Gold villa, Silver villa, Bronze villa and Copper villa and 100 flats.

With construction linked payment plans, the company aims to deliver in 18 months. The 200 villas that would be coming in cover area of 1,700 sq feet have been priced Rs 41.80 lakh upwards and the flats with covered area of 1,200 sq feet have been priced at Rs 21.50 lakh each.