VSR 85 Avenue Sector 85 Gurgaon ₹ 22.43 Lac to…
VLPL Avenue 83 Gurgaon is being developed and completed for delivery by Venetian LDF Projects LLP, a joint venture limited liability partnership company with its main promoter and partner Mr Somnath Munjal, who had been a seasoned real estate investor himself launched Avenue 83 in association with Mascot Buildcon Private Limited (MBPL) started construction and marketing under the Development Management model, with an associate company, VSquare. But lately VLPL dissociated itself from MBPL and VSquare, and started construction and development on its own.
About the Promoter of VLPL: –
Mr Somnath Munjal, promoter of Avenue 83, is also the Vice President of Impulse Marketing, a company founded by Mr Manish Anand and Sanjay Bakshi in 1999. Mr Somnath Munjal, who is one amongst eight Vice President of the company, has been into direct marketing for Impulse Marketing, selling books and reference products from Oxford University Press, Penguin Random House, Hachette, Ripley, Dorling Kindersley, National Geographic, Encyclopaedia Britannica amongst others directly to customers. It has an extensive distribution network in major cities and towns in India with almost 5,000 sales specialists spread across over 200 offices.
About commercial project Avenue 83: –
VLPL Avenue 83 Gurgaon is one of the finest mixed use commercial retail offices and entertainment building superbly located at the intersection of 84-meter-wide main sector road and 24-meter-wide access road for dense residential catchment. The land area is 2.3625 Acres with TCP license number 12 of 2013 (13/03/2013) and 180090 Sq Ft to be unevenly distributed amongst Ground plus 11 Floors for mixed used development with ground coverage of 40%.
The super structure of VLPL Avenue 83 Gurgaon building is under finishing stage which consists of high-street low maintenance retail blocks on Ground and First Floor with anchor store, entertainment, restaurant, food court and 5 screen multiplex blocks on second and third floor. While Fourth to Eleventh Floor are earmarked for dedicated lockable but pre-leased office space with minimum size of approx. 300 Sq Ft and in its multiple on super area term. The building will expectedly be ready for possession by end of 2021. Avenue 83 is pre-leased at Rs 50 Per Sq Ft to neighbouhood health and wellness firm which is engaged in preventive health care for neigbourhood community for a period of 15 years with rental enhancement of 15% after completing of every 5 years’ lease term, which is managed by team of well-known doctors well experienced for community health care management. It is well connected to Dwarka Expressway, National Highway 8 and Southern Peripheral Road. This building has ample parking space on upper and lower basement levels.
Investment Prospect in Avenue 83: –
Any body expecting 7 to 8% of regular monthly rental return, for a period of 15 years with 15% rental increment every 5 years, one can invest in pre lease office space with minimum approximate capital of Rs 30 Lakh and avail 11% per annum assured return payable monthly right from day one in Avenue 83 until possession and subsequently can get rental return every month, which is very decent and secured investment, if the person is not keen to occupy the purchased office space for self-use minimum period of next 5 years after possession. For self-use attractive proposal can be given in retail space on ground and first floor and food court, fun zone, restaurant space on second or third floor. There are brand enquiries, and there are high possibilities of leasing due to density and catchment, the pre-leased concept can be developed in retail and food courts as well to sell as pre-leased property.