Maruti Lifestyle
Current Rating: ‘Raipur 6 Star’ (Reaffirmed in January 2015)
mohammad
Earlier
Rating: ‘Raipur 6 Star’ (Rating assigned in December 2012)
Project Profile
Type of project
Location of project
Type of development
Start date of project
Possession committed to customer
Total saleable area
Percentage of physical completion
as on December 2014
Villas & Apartments
Opposite R K Mall, Mahoba Bazar, Raipur.
Bought out
October 2009
July 2015 (Entire project)
0.8 million sq ft
90 per cent
Sponsor Profile
Name of the project
Name and address of developer
Name of developer group
Track record in years
No. of projects developed till date
No. of ongoing projects
Maruti Lifestyle
Avinash Developers Private Limited
Avinash House,
Maruti Business Park,
G E Road, Raipur – 492 001.
Avinash Group
18 (Since 1996)
26
11
Project Rating Drivers
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Project construction quality and amenities
o Construction quality: The structural quality of the project is backed by the track records of the
architect and structural engineer. The project has been designed in conformance with the
seismic zone II requirements. The quality of construction is monitored by random cube tests
through third-party agencies. The developer does not provide defect liability for the project.
o Amenities: The developer will provide major amenities such as clubhouse, swimming pool,
gymnasium, spa and sauna facilities, indoor games, bowling alley, badminton/tennis/squash
court, joggers’ park, skating rink, library, indoor cricket, kids’ play area, yoga hall, conference
room, business centre, banquet hall, and guest rooms. The clubhouse will be open for people
who are not part of the project, but who will have to pay membership fees.
o Location: The project is located opposite RK Mall at Mahoba Bazar in Raipur and is in
proximity to educational institutes, shopping areas, and railway station. The project has
strong road connectivity and is well-connected to other parts of the city. The project targets
businessmen and high-ranking government officials.
Project legal quality – The legal quality of the project is backed by a clear and marketable land
title and an agreement to sale that mentions details such as payment schedule, default implication,
and transfer clause. The possession date, delay compensation, and maintenance clause do not
form part of the agreement to sale.
Project financial quality – The project’s financial quality is strong marked by sanctioned bank
lines and sound project sales.
Project sponsor quality – The project’s sponsor quality is driven by the strong development track
record of the company in the Raipur real estate market and sound financials. The developer has
completed 26 projects (3.5 million square feet [sq ft]) over the past 18 years. As on March 31,
2014, the developer had a net worth of Rs.714.2 million and gearing of 1.68 times.
Project Photographs (As on December 2014)