Realty Illustrated in the current real estate market

in Efficient

In the current market scenario, it is essential for every company to be dynamic and adaptable. One of BPTP’s key strengths is their efficient use of capital and the ease with which they respond to changing regulatory and economic environments. This ability, along with the experience of their management team and their knowledge of the NCR real estate market, helps us to continue achieving business growth despite difficult economic environments. In order to equip themselves to deal with market trends they converted one of their high rise residential projects into low rise group housing. In October 2016, due to the global economic downturn and demand-supply dynamics of the local market, they deferred their SEZ development projects. This was done in order to reduce capital expenditure and the debt they would have otherwise taken on for the development of these projects. In January 2016, the Haryana Government permitted registration of independent floors built on residential plots. This amendment allowed us to realign their residential projects from plotted housing to independent floors.

The resulting optimization of the built-up area of these units permitted us to offer a unique three bedroom product to their clients at reduced unit prices. In September the same year, they launched Park 81 in Faridabad – a new independent floors project that they had previously planned to develop as plotted housing. In March 2016, the UP Government conducted an auction for the acquisition of 94.1 acres of commercial plots in Sector 94. This area, located on the NOIDA-Greater NOIDA expressway, was available at an aggregate consideration of INR 49.6 billion. Subsequently, the NOIDA Authority restructured the scheme permitting developers, who had acquired land from the Authority, the option to agree to a modified payment plan. They also allowed the developers the option to forfeit a part of the paid amount as a penalty, in exchange for a smaller portion of the plot. They chose to purchase a smaller plot spread across 21.7 acres, in consideration for the INR 12.7 billion that they had already paid.

They pride themselves on their ability to identify, acquire and consolidate land parcels for their projects. It is a well-documented fact that BPTP was the first developer to correctly analyse the potential in developing real estate in Faridabad. They ventured into the Faridabad market well before their competitors and therefore acquire large land parcels for the development of their projects. This foresight of their project research team put us ahead of the game and awarded us with a great deal of flexibility while executing their plans. The acquisition of large parcels of contiguous land allows for the development of large scale projects like townships in multiple stages.