Can you describe your project briefly? Shriram Panorama Hills is a first of its kind integrated township promoted by the Shriram Group on 80 acres of land.6 million square feet of built up area is proposed to be constructed here. A product mix of residential, commercial and an office phase which is essential for township living is being developed with 2300 apartments & 220 villas with different dimensions & design. When did you start the project?We bought the land through VUDA auction and got the approval in the year 2009. We have started the project mid 2009.What are all the facilities you offer?Club house, hospital, school, and convention centre.A township project requires an able architect. Who is your architect?Asia’s No 1 township designer – Jurong Town corporate are our architects, more than 1000 townships have been constructed by them across world.Are you constructing the apartments and villas?Yes!What is the timeline for the project? Though we have officially started the project mid 2009, from June 2010 onwards the construction has started in full stream. By 2015 ( 60 months -5yrs ) we will be completing the project.Usually, mega projects of this size will undergo a lot of changes ;difficult to complete within the said time frame. How confident you are on completion of the township?
Yes we are not an exception. We too have also made certain changes according to the market conditions within the frame work of the approval norms.The township will be the first of its kind in Vizag. How is the response for your project?
The response is highly encouraging and in the last 18 months we have sold more than 400 units of apartments & 100 units of villas. The increased response is reflected in our construction also.The location today, is not heart of the city. So, a city living family will not buy the apartments here, isn't it?
In any part of the world if a city is getting polluted people tend to relocate to a suitable location. We have analyzed the number of the flats booked for apartments & villas, surprisingly 40% of the clients are very well within the city. Vizag city like any other city is growing now in all the directions. So, our location though not in the heart of the city is very much a part of the city.What is the price of your apartment?Apartments start from the range from Rupees 30.5 lacs.Is it not too high?No, it is less if you compare the surrounding projects in terms of location, design, ambience, lifestyle, rental yield & appreciation.What is the price of your villas?Villa price starts from 1.5 crore.Is it not too high?If you travel 10 kms away from the site to the surrounding areas you will get your answer.What is the common area to saleable area ratio for your apt?20% to 24%.If a group of people approach you, to buy an apartment or villa, is any special price is possible?
Yes, of course, depending upon the number of people in the group.Your two BHK seems to be small; your 3 BHK and 4 BHK seem to be big for a family. Why has it been designed like that?
Our 2BHK starts from 1252 sft – 1338 sft; 3BHK starts from 1592 sft – 2096 sft & 4BHK starts from 2294 sft – 2375 sft. This cannot be termed as too small because the buyer has a lot of options. What is the present rental rate per month for 2 and 3 BHK apartments?Today in Madhurawada 2BHK & 3BHK in thesurrounding areas is less than 7/- per sft, we expect a rental range of between 12/- to 14/- per sft per month on completion of the project ( Almost 30% - 40% more than the surrounding neighbourhood).What is the possible appreciation for an apartment or villa in the next 3 to 5 years. ?
30% to 60%.Vizag is not an established real estate hub; how do you expect a major real estate value for your project in future?
Vizag real estate market is stable & has strengthened over the years. The number of public sector enterprises & manufacturing units present in Vizag is a matter of pride for Vizag real estate and also for our project. I saw one of your ads, comparing your project location with Banjara hills and Jubilee hills in Hyderabad. Can you elaborate?
Banjara and Jubilee Hills in Hyderabad were considered to be on the outskirts once, but today these are considered as prime real estate ( Yendada hills can be termed the future Banjara & Jubilee Hills of Vizag ).The approach road from both NH and Beach Road to your project is not so good. Can anything be done from your end to make it as a motorable and good road ?
VUDA in their master plan have marked this road as an express highway as a link between beach road and NH-5 road. The tender has been awarded and the work has commenced. It is an 18 months road project & and completion of the road work will add value to our project.If I book an apartment or villa with your assurance of completing the unit as livable , within a specific period of time, and if you don't deliver as per your promise (in most of the projects in the city, the buyers face such issues.) how are my interests protected?
The buyers’ interest is fully protected and insulated with a penalty clause on account of delay in delivery. The same is mentioned in our agreement. If I want to change few of the specifications ( like flooring, bathroom fittings) you provide, will it be possible?
Yes, possible, our modification policy allows the buyer for a customize the few of the specifications without effecting the architectural elevation & design of the unit. If I need to add few electrical points as an addition, would I be allowed to do so?
Yes, it is possible.Will you arrange for bank loans?Yes! For my regular correspondence on my unit, will you designate a person who can be a single point contact?
Our Customer Service Executive’s are working on the project tower wise and each Executive is assigned to take care of each and every individual.Can you list out the facilities to be made available in the club?Indoor games, billiards & fitness center, food court.Who will do the maintenance? The first year after completion of the project Shriram will do the maintenance and after the completion of 2 years , the Owner’s Association formed will take over the same. I am living in USA. If I buy an apartment or villa, after it is completed, can you assist me for getting a tenant?
We are planning to have a property management team who can take care of such services.The school, hospital, clubhouse (which you propose to develop under Phase 3) will be meant only for residents or for outsiders also?
Outsiders too can join By the end of this project, almost 3000 dwellings will be created. If 4 persons per unit is the number of persons residing, almost 12,000 people will be residing in the township. Keeping 30% of the township's population as guests, about 16,000 people will be housed here. Will it not be congested?
As per our calculation, the occupancy along with guests works out to 200 people per acre ( 80 acres township ).When will the clubhouse start functioning?Clubhouse will start functioning fully on the completion of Block 2.Why should I pay the corpus fund to you rather than paying to Association?
During construction period the Association is not an entity. As a builder it is our duty to form an Association and transfer the funds & assets to the Association.What is the share of my UDS if I buy 2 bed room house?Undivided share is determined based on the salable area.Can I opt for an additional car parking?Yes with additional charges subject to availability.Backup power?0.5 K. Watts per Apartment & for villas, 25% back up from centralized DG except AC.When & by whom will the Association be formed?It’s our duty to form an Association and also to transfer funds & assets to the Association.Is there any separation between villa & apartments in terms of people living & trespassing?
No separation. By viewing your project I understood that Orchids north B is not designed as per Vaastu, how confident are you about Vaastu?
It’s very difficult to put 100% Vaastu but changes can be done accordingly.What & which hospital, school, convention centre are going to be constructed in your township?
So far we have not signed up with any hospital, school, and convention centre. We are planning to start the work by 2012.I heard this landlord is a relative of Y.S.Jagan, will there be any issues in the future? What is the assurance?
The project is an outright land purchase done by us and we are the sole owners for the project. There are no other private parties involved with us. It is a whole and sole ownership of Shriram Properties. Since these are high rise apartments, what is the life span for the buildings being constructed, I mean the quality of work & material?
Usually in INDIA standard life of the building with a standard specifications will be 80 years to 100 years if they are constructed with our conventional technology ( In Mumbai high storied apartments up to 50 floors are even now in habitable condition.)The villas looks like a slope/stepwise formation from Orchids to Daffodils, what if it rains heavily & the water flows down to Daffodils?
Slope management with step construction is being carried out and a retainer wall is to be built on the vertical side slopes in the villa vicinity.Why has the construction been is so delayed, I have seen the foundations & few villas slab work being done almost 2yrs back?
As we have mentioned earlier, the construction was started originally 18 months ago but due to some technical issues, there has been a delay. How many swimming pools for the entire project?Two swimming pools inside the Club house.
What is super built up area?The area inclusive of plinth area and a portion of common area is called super built up area.What is carpet area?The usable area in the flat is called carpet area.What percentage of carpet area will be allocated to each flat generally?It varies from project to project, which will be calculated by the project ArchitectWhat is saleable area?Saleable area is nothing but super built up area.What is Sinking fund?Sinking Fund is a Corpus Fund collected from the residents which will be utilized at the time of any major break-up of machineries in the complex or for external painting of the building etc. The Sinking fund will be transferred to the Association once it is formed.Why should the Sinking fund be paid initially and with held with the builder till it is transferred to the Association?The entire amount in respect of the flat should be collected before possession inclusive of sinking fund. As early as the Association is formed it will be transferred.Difference between Sinking fund and Maintenance Charges?Sinking Fund is the deposit which will be paid once in a life time. Maintenance charges are collected monthly to maintain the Complex. For the first year we are collecting for 12 months in advance, if the Association is formed within one year, the remaining maintenance charges out of the amount collected from the clients will be transferred to the Association.What are the facilities included for maintenance charges paid?Water, common area electricity, landscaping, security, house keeping, lift maintenance, DG maintenance, STP, WTP, swimming pool and club house etc.,When and by whom is the Association formed?The residents will form the Association within one year or after one year of maintenance period.Why there is no provision for nominee instead of joint applicant?We will make a provision for the nominee column in the application form henceforth. Nominee should be the same in case of joint applicant.What benefits are given in case of client referrals / or group bookings?Referral commission will be fixed by marketing. In case of group booking the discounted rate for the flats will be offered by them onlyOn what basis is the payment schedule determined?Payment schedule is normally connected to the construction schedule.
What are the formalities to be done in case the client is residing abroad?The booking can be done by anybody on behalf of the client. Further the client has to execute a 'Power of Attorney' in whosoever name he wants to, so that the Power of Attorney holder can accomplish all the activities pertaining to the flat on client’s behalf. How to get POA if client is abroad?Soft copy of POA will be sent to the client, which he has to be executed and notarized by the Notary at his place and send sent it to the power of attorney for signature.What are the procedures for remittance of payments from abroad?They can directly remit the payments to our account or send the cheques to us.Can the agreements be sent abroad for clients signatures, if the client is abroad?No, it can be signed by the Power of Attorney holder instead.