Vijayaram Vihar
M/s Raghava Estates & Properties Limited was founded in 1988 and is based in Vijayawada, India. Company engages in the real estate and property development activities. It has developed good number of housing colonies and apartments in various locations in Vijayawada.
| Project Name | : | Vijayaram Vihar | |||||||||||||||||||||||||||||||||
| SPV Name | : | Arthveda star (Vijayawada) Realty Private Limited | |||||||||||||||||||||||||||||||||
| Developer Name | : | Raghava Estates and Properties Limited | |||||||||||||||||||||||||||||||||
| City | : | Vijayawada | |||||||||||||||||||||||||||||||||
| Location | : | R S.No.178/1, 178/2,Opp. Ananda Vihar,Edupugallu Village, Kankipadu Mandal, Krishna District, Vijayawada | |||||||||||||||||||||||||||||||||
| Land Acquired | : | Yes | |||||||||||||||||||||||||||||||||
| Approval Received | : | Building plans sanctioned | |||||||||||||||||||||||||||||||||
| Principle Amount Outstanding (INR) | : | 4.01 Cr. | |||||||||||||||||||||||||||||||||
| Type of Project | : | Residential | |||||||||||||||||||||||||||||||||
| Construction update | : |
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| Status update | : | The project is stuck up for the last 3 years for want of funds. Luckily some lender have shown interest to fund the project to the tune of Rs 7 cr required for the completion of the project. Under the circumstances the developer feels it will be best to take the project forward in two phases(Block A and Block B respectively) with 2 separate tranches from the lenders and utilize the sales proceed from the completed block towards the construction of the next block and repayment of lender. Time required for completion of the first block with common works is 5 months and thereafter another 4 months for completion of the 2nd block. Considering that it take 9 months to complete the project and also to repay the lender. The developer has committed to provide fair return on investment to Arthveda post completion of project. | |||||||||||||||||||||||||||||||||
| Percentage of Share holding of STAR Fund in SPV | : | 26% | |||||||||||||||||||||||||||||||||
| Investment held in form of | : | Equity Shares Rs 26,000/- Cr & OFCD Rs 4,00,25,000/- Cr | |||||||||||||||||||||||||||||||||
| Latest Valuation done as of | : | 31st March 2020 by M/s Meraki Consultants, Mumbai | |||||||||||||||||||||||||||||||||
| Statutory auditors for FY March 2019 | : | M/S Kondaveti & Associates; Vijayada |
2017
2016
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