Central Park says it is having all the financial and structural aspects of its Bellevue project examined by leading auditors and technical consultants and that it would hand over copies of their final audit to its customers.
Bellevue is the latest project of Central Park,which is part of Sweta Estates Private Limited,a leading real estate developer.Central Park says Bellevue is designed to create panorama,totality,family environs,and revitalize upscale living.
This project follows the success of Central Park I on Golf Course road in Sector 42,Gurgaon,and the company has now launched Central Park II,an integrated upscale development in Sector 48,Sohna Road,Gurgaon.
Phase I of Bellevue,which is part of Central Park II,comprises over 400 exclusively designed apartments in the range of 2,350 sq ft to 4,650 sq ft,which are now being handed over to owners for possession.Built on 10 acres,the project includes undulating landscaped greenery and is a perfect getaway for the discerning end users seeking luxurious homes.
With its nine towers,a clubhouse,pool,sport and recreational amenities,Bellevue has been developed so as to make it the closest an individual can come to owning a resort.The luxuriously built apartments have been designed by HOK (Hellmuth,Obata + Kassabaum),the worlds fourth-largest architectural firm.
Bellevue,which was launched at a price of Rs 2,050 per sq ft,now carries a re-sale value of Rs 6,000 per sq ft,a clear evidence of its great demand and endorsement from the upscale home market. Connectivity is an USP of the project with IFFCO chowk,the Metro station and the international airport,all within easy distance.
At Bellevue,transparency is a central philosophy Vineet Nanda,vice-president of business development at Central Park,says: A distinctive feature of the Bellevue project has been the use of the latest British construction technology,known as Mivan shuttering.This costs 25% more compared to normal construction technology as it creates a complete concrete structure.Mivan uses aluminium frameworks for the construction of tall buildings,to impart solid structural integrity and high degree of seismic resistivity.Also,in a rare example of transparency,Bellevue apartments will be handed over to all customers with certificates from leading auditors and technical consultants like Grant Thornton,certifying the saleable areas of the apartment,computation of escalation,specifications,construction quality and structural integrity.
Nanda adds: The Bellevue project,which is being conceived for discerning customers,is replete with the best possible amenities including an amphitheatre,basketball court,power backup,double-level basement parking,solar water-heating,water bodies,fire-safety systems,high-speed communications network and a beautifully designed park and play area for children. Central Park is jointly promoted by Amarjit Bakshi and K S Bakshi.Central Park also has Ashmore PLC,a leading international PE fund based out of UK as a third partner with an equity participation in the company.
Neeraj Dhawan,CFO,Central Park,says,The company has the distinction of being a Zero Debt company and its market cap is valued at over Rs 5,750 crore by the PE fund while inducting equity in the company.
Currently,Central Park has over 2 million sq ft of existing development and another 6 million sq ft are in an advanced stage of planning and execution.
