Lakshmi Nilayam
M/s Madhu Infra is a mid-segment real estate developer / builder company based in Hyderabad. It is a private limited company incorporated under the Companies Act 1956. The company has been promoted with the primary objective of construction of apartments, hospitals, industrial structures and community house development along with the real estate land development. The promoters of the company have good experience in the construction business and in developing real estate projects.
| Project Name | : | Lakshmi Nilayam | ||||||||||||||||||||
| SPV Name | : | Arthveda Northstar (Guntur) Private Limited | ||||||||||||||||||||
| Developer Name | : | Park Ville Projects Private Limited | ||||||||||||||||||||
| City | : | Guntur | ||||||||||||||||||||
| Location | : | Survey No.272,Syamala Nagar, Guntur | ||||||||||||||||||||
| Land Acquired | : | Yes | ||||||||||||||||||||
| Approval Received | : | Building plans sanctioned | ||||||||||||||||||||
| Principle Amount Outstanding (INR) | : | 11.51 Cr. | ||||||||||||||||||||
| Type of Project | : | Residential | ||||||||||||||||||||
| Construction update | : |
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| Status update | : | Sales have slowed down as is the condition in real estate market. The investment manager is also exploring options to bring in another investor in place of STAR Fund for getting exit for Arthveda STAR Fund. Amount to be received on future sale of Apartments will depend up on various critical factors like completion of Project in soonest possible time and recovery of markets from Covid-19 Pandemic and other factors. It is difficult to give a reasonable projection at this point of time as no sale is happening over recent past and dramatic erosion of project value as Approximately 5.5 crores required for completion of the project and with no additional funding by Arthveda and other lender, the developer is finding difficulty in completing the project in time. The developer has committed that with proper funding for the remaining part of the project, the construction will be completed within six months. | ||||||||||||||||||||
| Percentage of Share holding of STAR Fund in SPV | : | 67% | ||||||||||||||||||||
| Investment held in form of | : | Equity Shares Rs 67,000/- Cr & OFCD Rs 11,50,00,000/- Cr | ||||||||||||||||||||
| Latest Valuation done as of | : | 31st March 2020 by M/s Meraki Consultants, Mumbai | ||||||||||||||||||||
| Statutory auditors for FY March 2019 | : | Brahmayya & Co; Guntur |
2017
2016
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