Mahisbathan, Sector V, Kolkata Bought Out 5.75 acres 0.77 million sq ft 6 blocks

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1 RATINGS Panache Rating assigned: Kolkata 6 Star (Re-affirmed in June 2016) Earlier rating: Kolkata 6 Star (Assigned in February 2015) Project Profile Type of project Location of project Type of development Land Area Total saleable area No. of blocks No. of units Unit configuration Residential Mahisbathan, Sector V, Kolkata Bought Out 5.75 acres 0.77 million sq ft 6 blocks 520 apartments sq ft (2, 3 & 4 BHK) Block 1 & 6 - Basement + Stilt + 25 floors Block 2 B+S+24 floors No. of floors Block 3 B+S+22 floors Block 4 B+S+19 floors Block 5 B+S+17 floors The project s total saleable area of 0.77 million sq ft. will be increased by 10% owing to additional FAR from green building norms. The project continues to comprise of 6 blocks with additional floors. The developer is in the process of revising the sanction plans and approvals. Location: The project is located at Mahisbathan, Sector V, Kolkata. It is approximately 5 kilometres (km) from New Town and Sector V of Salt Lake and 9 km from Rajarhat Kolkata s IT hub. It is around 11 km from the airport and 17 to 18 km from the city centre. The project is in close proximity to the upcoming new metro line (New Garia-Airport Metro). A number of hotels, hospitals and schools are located in proximity. For the location map, please refer to

2 CREST Rating Report 2016 Pricing Table Loading on carpet area Loading on built-up area Base price Stamp Duty Registration Charge Service Tax 51 per cent 31 per cent Rs.4.23 million to Rs million (February 2015) (Super Built Up)* Rs.6.00 million to Rs million (May 2016) (Super Built Up)* 7.00 per cent of the agreement cost 1.10 per cent of the agreement cost 3.09 per cent of the agreement cost Maintenance Charge Rs.3 per sq ft per month * The ticket range is calculated on base price of the project Sponsor Profile Name of the project Name & address of the company developing the project Name of the developer group Chairman Managing Director Developer website Project website Track record in years 30 years (PS Group ) 12 years (Srijan Group) Panache PS Group Trinity Tower, 83, Topsia Road (South), Kolkata , West Bengal. PS Group (in association with Srijan Group) Mr. Pradip Kumar Chopra Mr. Surendra Kumar Dugar

3 RATINGS Project Rating Drivers Project construction quality and amenities Construction quality: The structural quality of the project is backed by the sound track record of the architect (M/s. Design Cell, Kolkata) and structural consultant (M/s. SPA Consultants Pvt Ltd, Kolkata). The civil work for the project is being undertaken by civil contractor (M/s. Raj Trimurti Infraprojects Pvt Ltd, Kolkata) and is managed by in-house teams. The project has been designed in conformance with the seismic zone requirements. As per the mutual understanding between the two groups, the project will be executed by PS group. 120% 100% 80% 60% 40% Planned project progress 50% 100% 20% 0% 0% Jun-14 Jan-15 Aug-15 Mar-16 Oct-16 May-17 Dec-17 Jul-18 Project Start Date Physical completion as on date of report Project End Date Architect: Design Cell Structural consultant: SPA Consultants Pvt Ltd Total 8 years experience 100 projects Total 25 years experience 700+ projects Major clients: PS group, Srijan Group, Alcof Group, Diamond Group, Heritage Group Largest project, 1.2 mn sq ft. Major clients: Godrej Properties, Ambuja Realty, Mani Group, Keppel Land International Pvt Ltd and Wipro Ltd Largest project, 2.2 mn sq ft. 3

4 CREST Rating Report 2016 Civil Contractor: Raj Trimurti Infraprojects Pvt Ltd Total 12 years experience 29 completed residential projects Major clients: Riddhi Siddhi Group, Akshara Group, PS Group and Siddha Group 31 residential projects ongoing Quality measures Onsite testing laboratory External testing Soil test report Designed as per seismic zone requirements Amenities: Major amenities in the project community hall, Indoor games, Gymnasium, Landscaped gardens and 24 hrs power back-up through DG sets. Project legal quality The legal quality of the project is backed by clear and marketable land title, as certified by Tapan Kumar Lahiri Advocates and receipt of project approvals. The customer agreement has clauses on possession date, grace period, construction-linked payment schedule, delay compensation, cancellation clause in case of delay in payments from customers, and penal interest in case of delay in payments by customers. The developer is in the process of revising its approvals and will be making application for the same for the additional FAR received for Green Building. Checklist of clauses included in construction and sales agreement Possession Date Grace Period Saleable area mentioned Default Implication Delay Compensation Defect Liability Period (No. of years) Payment schedule Maintenance clause Holding Clause Escalation Clause Cancellation Clause Specifications Carpet, Built-up and Super built-up area 2 years Construction Linked

5 RATINGS Amenities Plan Layout Floor Plan Parking Space Allotment details Title search certificate Annexed Approvals Project financial quality The project s financial quality is moderate, marked by strong group support and good initial bookings for the project. The developer has construction finance tie-up of Rs.50 crores from SBI Bank and intends to fund the construction cost of the project throgh customer advances and Bank line. Funding till date Funding planned 0% 37% 63% 100% Customer advances Bank line Customer advances Bank line Price trend and % change in ticket size 42% % % 35% 30% 25% 20% 15% 10% 5% Apr-15 May-16-0% Lower ticket size (Rs. In million) % Change Higher ticket size (Rs. In million) 5

6 CREST Rating Report 2016 Project sponsor quality The project sponsor quality is driven by the established track record of both the sponsors (PS & Srijan Group). The sponsors have strong presence in the commercial and residential real estate segments and have projects in Kolkata, Chennai, Coimbatore, Patna and Asansol (West Bengal). Most of the past and ongoing projects of the sponsors are through joint ventures with reputed developers. As per the mutual understanding between the two groups, PS Group is responsible for construction and sales of the project. PS group has around 30 years of experience in real estate and has completed projects in Kolkata, Asansol, Coimbatore, Patna and Chennai real estate markets. The group has developerd residential, commercial and mixed development projects in past and has strong second line of management with autonomy for undertaking decision for operational matters. Construction track record - PS Group Completed projects in mn sq ft (101 projects) Ongoing projects in mn sq ft ( 32 projects)

7 RATINGS Project Photographs (As on May 2015) 7

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