Investment Proposals. Blue Stone Partners

Transcription

1 Investment Proposals Blue Stone Partners

2 Scope: Real Estate Overview New Delhi Gurgaon Available Investment Options

3 Overview of Micro Markets New Delhi

4 Delhi: City Profile Area 1484 sq. km. Population Approx. 22 mn. Literacy Rate is over 86.21% Modes of Commuting Autos State run buses Private Transport Metro Key Industries Banking and Financial Services IT / ITES and BPO sectors Retail Key Drivers for Growth Enterprising population Capital of India attracting MNC s Commercial Importance Per Capita Income is INR 2,01,000/- Delhi contributes to 3.1% of total GDP

5 Delhi - Analysis INFRASTRUCTURE Power Traffic congestion Public Transport Business Support Facilities Social Infrastructure 4-6 hour shortfall during peak demand season of May-July Slow moving traffic during peak hours on nearly all primary roads provided by auto rickshaws, buses, rapid transit system, taxis & Metro railways Home to numerous business hotels & convention centres Sufficient number of public/private schools & hospitals; shopping & eating options plentiful POLITICAL/ECONOMIC Political Stability Security Strikes/dharnas frequent though mostly restricted to political zone Being the Political Capital, enjoys favorable law and order situation REAL ESTATE Cost Quality High real estate values coupled with high cost of construction Poor quality buildings; new constructions offer international quality but are few & far OTHER Residential General city attractiveness Skilled workforce Ample options available to suit all budgets & specifications Historical city; nation s capital & hub of political activities; never away from the limelight Large talent pool available through numerous reputed educational institutes in the city

6 Overview : Delhi: Rental & Capital Values Micro Locations Rentals ( INR / sq ft / month ) Capital Values ( INR / sq ft ) Connaught Place INR INR Bikaji Cama Place INR INR Mohan Cooperative INR INR Pitampura INR INR Okhla INR INR Nehru Place INR INR Jasola INR INR Saket INR INR

7 Preferred Locations: Industry Wise Micro Locations Major Occupiers Pitampura Insurance, Banking, Engineering, Consulting Connaught Place Banks, Financial Institutions, Corporate Houses, Consultants Bikaji Cama Place Insurance, Consultancy, Govt Offices Mohan Cooperative Automobiles, BPO, Call Centers, Software Companies, Warehouses, Manufacturing Okhla Industrial, Manufacturing, Telecom, BPO Vasant Kunj Automobiles, IT, Educational Nehru Place IT/ITES, Corporate Houses Saket Jasola IT / ITES, Insurance, Corporate Houses Consultancy, Financial Services

8 Major Corporate Hubs: New Delhi Category SBD CBD Area Bhikaji Cama Place Connaught Place Capital Value Range (INR PSF) SBD Jasola SBD Nehru Place Prominent Buildings Som Dutt Towers, Mahindra Tower, NBCC HT House, Birla House, Statesman House, New Delhi House, DLF Capitol Point, Konnectus DLF, Salcon Aurum, M6 Plaza, Splendor Forum Eros Corporate Tower, IFCI, Devika Tower Area Categorization Commercial Commercial Commercial Commercial SBD Okhla Bharti, Vodafone Industrial/IT/ITES SBD Saket PBD Pitampura PBD Mohan Cooperative Rectangle One, Southern Park, DLF South Court, Ras Vilas Aggarwal Towers, D Mall, Gopal Height, Pearl Height, KLJ Tower Espire Tower, Jaguar Tower Commercial Commercial Industrial/ IT/ ITES

9 Overview of Micro Markets Gurgaon

10 Gurgaon: City Profile Area 732 sq. km. Population Approx. 1.5 mn. Literacy Rate is over 84.7% Modes of Commuting Autos State run buses Private Transport Metro Key Industries IT / ITES & BPO, Consulting, FMCG, Retail, Finance & Banking, Autombiles, Pharmaceutical, Consumer Durables Key Drivers for Growth Cosmopolitan population Close proximity to the airport Investment friendly environment Commercial Importance Per Capita Income is INR /-($ 2036)

11 Gurgaon - Analysis INFRASTRUCTURE Power Traffic congestion Public Transport Business Support Facilities Social Infrastructure 3-4 hour shortfall during peak demand season of May-July Traffic snarls in peak hours on corridors to & fro from Delhi; Situation expected to improve Intra-city transport through private cars, shared taxis and the metro World class business hotels, convention halls & leisure facilities Ample hospitals, schools & community parks; entertainment & leisure options abundant POLITICAL/ECONOMIC Political Stability Security Largely unaffected by political ramifications Occasional incidents of violence, overall a healthy law and order situation REAL ESTATE Cost Quality No longer enjoys much cost advantage; intense competition from alternative destinations Quality developments with world-class facilities; high standard of maintenance & security Availability Plenty; 9.1 mn. sq. ft. of grade-a supply likely to be available by the end of 2014 OTHER Residential General city attractiveness Skilled workforce Sufficient options available from mid-range to high-end premium condominiums High quality of life with some infrastructural issues likely to be resolved soon Easily available

12 Overview : Gurgaon: Rental & Capital Values Micro Locations Rentals ( INR / sq ft / month ) Capital Values ( INR / sq ft ) Udyog Vihar INR INR Sector 32 INR INR Sector 44 INR INR Sohna Road INR INR Cyber City INR INR MG Road INR INR Golf Course Road INR INR Extended GC Road INR (Retail) INR (Retail)

13 Preferred Locations: Industry Wise Micro Locations Major Occupiers Udyog Vihar IT/ITeS, Export Houses, Engineering Sector 32 Retail, Pharmaceutical, FMCG, Consumer Durable Sector 44 Consulting firms, Consumer Durables, Engineering Firms Cyber City IT/ITeS, FMCG, Banking, Retail, Consulting, Telecom MG Road Airlines, Consumer Durables, Automobiles, IT/ITeS, Banking Golf Course Road IT/ITeS, Consulting, Automobiles, Retail Sohna Road IT/ITeS, Banking & Finance, Automobiles Extended GC Road IT/ITeS, Consulting, Banking & Finance

14 Major Corporate Hubs: Gurgaon Category Area Capital Value Range (INR PSF) SBD DLF Cyber City SBD Golf Course Road CBD MG Road PBD Sector SBD Sector PBD Sohna Road SBD Udyog Vihar Prominent Buildings Infinity Towers, Building 8, 9 & 10, Cyber Greens Augusta Point, Masterpiece, Vatika Atrium, Technopolis, Orchid Centre Global Business Park, DLF Corporate Park, Time Tower Adidas, USHA, Ranbaxy, ITC Whirlpool, Apprarel House, Jindal House Vatika Technology Park, Universal, ILD, Spaze IT Park Shapoorji Pallonji Info City, ASF Centre, ASF Towers Area Categorization IT/ITeS/ Commercial Commercial Commercial Institutional Institutional IT/ITeS/Commercial IT/ITeS/Industrial

15 Options Available investment proposals

16 Option 1 Option 1 Splendour Forum, Jasola District Centre, South Delhi: Total Development: 2,62,000 sq.ft (Appx) Floor Plate: 30,000 sq ft (Appx) No. of Floors: 3B + G+ 5 Floor Offered : Third Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: 400 sq. ft. 260 sq ft Commercial 65 % (Appx.) Jasola A Grade Financials & other details: Current Status Leased Tenant Forrester Research India Pvt. Ltd. Asking Price INR 9 Million/ USD 1,50,000 Annual Rent INR 6,24,000/ USD 10,400 Annual Yield 7 % Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Lock in Period 3 Years Distance from the Metro 200 Metres Escalation in Rent 15% after every three years

17 Floor Plan: Area occupied by Forrester Reasearch India Pvt. Ltd. Third Floor - Splendour Forum

18 Overview: Jasola Key Characteristics Has emerged as next big commercial hub of Delhi Well connected to commercial areas such as Nehru Place, Okhla Industrial Estate, Noida and Faridabad and residential areas such as New Friends Colony and Sarita Vihar Tenant Profile Shipping Companies, Financial Institutions, Insurance. Average Rental Values : INR per sq. ft. per month ($1.3- $2) Average Capital Values : INR 16,000-24,000 per sq. ft. ($260- $400) Pros Cons Planned Development Plenty of residential options available in the vicinity Good Connectivity & Public Transport Good quality of buildings, Large Floor Plates Distance from the Airport Infrastructure continues to be weak Distance from the CBD Lack of business hotels at the moment

19 Layout : Jasola District Centre For Public Use Emaar MGF 5 Star Hotel (Under Const) Omaxe Citadel Multilevel Car Parking Saluja SC Tower Baani Uppal Corporate M-6 One DLF Tower B Splendor Forum TDI Centre Realtech ABW Copia Elegance DLF Tower A

20 Option 2 Option 1 Paras Square, Golf Course Extension Road, Gurgaon Total Development: 2,75,000 sq.ft (Appx) Floor Plate: 57,000 sq ft (Appx) No. of Floors: 2B + G+ 14 Floor Offered : Ground Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: 500 sq. ft. 300 sq ft Retail 60 % (Appx.) Gurgaon A Grade Financials & other details: Current Status Under Construction Expected Completion April 2017 Asking Price INR 8.45 Million/ USD 1,40,833 Assured return till possession 11% Expected Annual Rent INR 9,00,000/ USD 15,000 Expected Annual Yield % Type of ownership Freehold Developer support for leasing Yes Type of development: Mixed Use Availability of larger units Yes

21 Location Map: Paras Square

22 Ground Floor Plan:

23 Overview: Golf Course Ext. Road Key Characteristics Currently under developed infrastructure which is likely to significantly improve over the next 2-3 years Grade A buildings with a healthy mix of residential and commercial properties Tenant Profile IT/ITeS, Consulting, Banking & Finance, Automobiles Average Rental Values (Retail Spaces) : INR per sq. ft. per month ($ $2.0) Average Capital Values (Retail Spaces) : INR per sq. ft. ($200- $300) Pros Given that it is an extension of the Golf Course Road, it is perceived as a premium micro market Huge availability of Grade A buildings On the future metro corridor Close proximity to luxury residential apartments Cons Currently poor infrastructure and roads Poor accessibility. Inadequate public transportation at present Distance from NH 8 and the international airport High real estate costs owing to its premium perception

24 Option 3 Option 1 Well Done IT Park, Sohna Road, Gurgaon Total Development: 7,50,000 sq.ft (Appx) Floor Plate: 30,000 sq ft (Appx) No. of Floors: 3B + G+ 5 Floor Offered : Super Area: Carpet Area: Category: Efficiency Location: Third 2040 sq. ft sq ft IT/ITeS 70% (Appx.) Gurgaon Current Status Tenant Financials & other details: Leased in a furnished format Cocoberry Asking Price INR 17.3 Million/ USD 2,89,000 Annual Rent INR 12,60,000/ USD 21,000 Annual Yield Currently 7.3 %; Will increase to 7.8% after one year Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Quality of Construction: A Grade Lock in Period 2 Years Distance from the Airport 19 Kms Escalation in Rent 15% after every three years and 10% after the first year

25 Location Map: Welldone Tech Park

26 Floor Plan: Third Floor Welldone Techpark, Gurgaon

27 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well mantained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

28 Option 4 Option 1 Spaze IT Park, Sohna Road, Gurgaon Total Development: 14,00,000 sq.ft (Appx) Floor Plate: 84,000 sq ft (Appx) No. of Floors: 3B + G+ 12 Floor Offered : Super Area: Carpet Area: Category: Efficiency Location: Third 2028 sq. ft sq ft IT/ITeS 70% (Appx.) Gurgaon Current Status Tenant Financials & other details: Leased in a furnished format Changyou (NASDAQ Listed) Asking Price INR Million/ USD 3,24,480 Annual Rent INR 14,60,160/ USD 24,336 Annual Yield Currently 7.5 %; Will increase to 8.6% after three years Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Quality of Construction: A Grade Lock in Period 3 Years Distance from the Airport 19 Kms Escalation in Rent 15% after every three years and 10% after the first year

29 Location Map: Spaze IT Park

30 Floor Plan:

31 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well mantained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

32 Option 5 Option 1 Spaze IT Park, Sohna Road, Gurgaon Total Development: 14,00,000 sq.ft (Appx) Floor Plate: 84,000 sq ft (Appx) No. of Floors: 3B + G+ 12 Floor Offered : Super Area: Carpet Area: Category: Efficiency Location: Eighth 977 sq. ft. 684 sq ft IT/ITeS 70% (Appx.) Gurgaon Current Status Tenant Financials & other details: Leased in a furnished format Blue Harp Technologies Pvt. Ltd. Asking Price INR 9.37 Million/ USD 1,56,320 Annual Rent INR 7,03,440/ USD 11,724 Annual Yield Currently 7.5 %; Will increase to 8.6% after three years Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Quality of Construction: A Grade Lock in Period 3 Years Distance from the Airport 19 Kms Escalation in Rent 15% after every three years and 10% after the first year

33 Location Map: Spaze IT Park

34 Floor Plan:

35 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well mantained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

36 Option 6 Option 1 Vipul Plaza, Golf Course Road, Gurgaon Total Development: 2,10,000 sq.ft (Appx) Floor Plate: 36,000 sq ft (Appx) No. of Floors: 3B + G+ 5 Floor Offered : Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: Ground 8737 sq. ft sq ft Commercial 70% (Appx.) Gurgaon A Grade Current Status Tenant Financials & other details: Semi Furnished office ready to be leased Not yet leased Asking Price INR 160 Million/ USD 2.66 Million Expected Annual Rent INR Million/ USD 2.09 Million Expected Annual Yield Type of Ownership 7.86 %; which will increase to 9.04% after three years Freehold Expected Lease Period 9 Years (3+3+3 ) Distance from the Airport 13 Kms Expected Lock in Period 3 Years

37 Location Map: Vipul Plaza

38 Floor Plan:

39 Overview: Golf Course Road Key Characteristics A premium corporate hub with presence of a large number of multi national companies Grade A buildings with good quality infrastructure & roads Tenant Profile IT/ITeS, Consulting, Automobiles, Retail, Banking & Finance, Oil & Petroleum Average Rental Values : INR per sq. ft. per month ($1.3 - $1.6) Average Capital Values : INR per sq. ft. ($210- $280) Pros Possibly the most premium micro market of Gurgaon Mostly Grade A buildings which are well maintained Has offices of a large number of world renowned companies Close proximity to premium housing Cons Distance from NH-8 (likely to improve significantly after the 16 lane expressway takes shape) High cost of real estate as compared to other micro markets in Gurgaon Construction of Rapid Metro is likely to cause hindrance on this stretch over the next 2 years Poor public transportation at present

40 Option 7 Option 1 Total Development: Centrum Plaza, Golf Course Road, Gurgaon 3,00,000 sq. ft (Appx) Floor Plate: 50,000 sq ft (Appx) No. of Floors: 3B + G + 5 Floor Offered : Fourth Super Area: Carpet Area: Category: Efficiency: Location: Quality of Construction: Distance from the Airport 1750 sq. ft. sq ft Commercial 65% (Appx.) Gurgaon A Grade 22 Km. Financials & other details: Current Status Leased in a furnished format Tenant Guthy Renker Asking Price INR 27.5 Million / USD Annual Rent INR 2.1 Million / USD 35,593 Annual Yield 7.6% Type of Ownership Freehold Lease Period 5 Years (3+2 ) Lock in Period 3 Years Escalation in Rent 5% on the base rent every year

41 Location Map: Centrum Plaza

42 Floor Plan: Fourth Floor; Centrum Plaza, Gurgaon

43 Overview: Golf Course Road Key Characteristics A premium corporate hub with presence of a large number of multi national companies Grade A buildings with good quality infrastructure & roads Tenant Profile IT/ITeS, Consulting, Automobiles, Retail, Banking & Finance, Oil & Petroleum Average Rental Values : INR per sq. ft. per month ($1.3 - $1.6) Average Capital Values : INR per sq. ft. ($210- $280) Pros Possibly the most premium micro market of Gurgaon Mostly Grade A buildings which are well maintained Has offices of a large number of world renowned companies Close proximity to premium housing Cons Distance from NH-8 (likely to improve significantly after the 16 lane expressway takes shape) High cost of real estate as compared to other micro markets in Gurgaon Construction of Rapid Metro is likely to cause hindrance on this stretch over the next 2 years Poor public transportation at present

44 Option 8 Option 1 Vatika Mindscapes, Mathura Road Total Development: 6,50,000 sq. ft. (Appx) Floor Plate: 15,000-38,000 sq ft (Appx) No. of Floors: 3B + G + 13 Floor Offered : Sixth Super Area: Carpet Area: Category: Efficiency 5239 sq. ft sq ft IT/ITeS 70 % (Appx.) Financials & other details: Current Status Leased Tenant M/S Larsen & Toubro Asking Price INR 55.6 Million/ USD 0.92 Million Annual Rent INR 3.89 Million/ USD Annual Yield 7% Location: Faridabad Type of Ownership Freehold Quality of Construction: Distance from the Metro A Grade 1 Km. Lease Period 5 Years (3+2 ) Lock in Period 3 Years Escalation in Rent 15% on the base rent after three years

45 Location Map:

46 Floor Plan:

47 Overview: Mathura Road Key Characteristics Important stretch that links South Delhi with Faridabad Combination of Commercial, Retail, IT/ITeS and industrial projects line up this stretch Tenant Profile IT/ITeS, Automobiles, Retail, Banking & Finance Average Rental Values : INR per sq. ft. per month ($0.9 - $1.2) Average Capital Values : INR per sq. ft. ($120- $150) Pros Excellent visibility on from the main highway Close proximity to premium micro markets like Jasola in South Delhi Comparatively cheaper real estate costs Bang on the metro corridor Cons Perceived to be poor cousin of South Delhi Presence of sick industrial units influences the perception Traffic snarls (which are now easing due to variety of infrastructure initiatives) Grade A buildings are far and few

48 Option 9 Option 1 Vatika, Mindscapes, Mathura Road Total Development: 6,50,000 sq.ft (Appx) Floor Plate: 15,000-38,000 sq ft (Appx) No. of Floors: 3B + G + 13 Floor Offered : Super Area: Carpet Area: Category: Efficiency Location: Multiple Opt. 500 sq. ft. 350 sq ft IT/ITeS 70 % (Appx.) Faridabad Current Status Financials & other details: Under Construction Expected Completion June 2016 Asking Price INR 39,00,000 / USD Assured Returns 11% till possession and 10% after possession (for 36 months) Expected Annual Rent INR 3,90,000 / USD 6500 Expected Annual Yield 9% Type of Ownership Freehold Quality of Construction: A Grade Developer support for leasing Yes Distance from the Metro 1 Km. Availability of larger units Yes

49 Location Map:

50 Floor Plan:

51 Overview: Mathura Road Key Characteristics Important stretch that links South Delhi with Faridabad Combination of Commercial, Retail, IT/ITeS and industrial projects line up this stretch Tenant Profile IT/ITeS, Automobiles, Retail, Banking & Finance Average Rental Values : INR per sq. ft. per month ($0.9 - $1.2) Average Capital Values : INR per sq. ft. ($120- $150) Pros Excellent visibility on from the main highway Close proximity to premium micro markets like Jasola in South Delhi Comparatively cheaper real estate costs Bang on the metro corridor Cons Perceived to be poor cousin of South Delhi Presence of sick industrial units influences the perception Traffic snarls (which are now easing due to variety of infrastructure initiatives) Grade A buildings are far and few

52 Option 10 Option 1 Vatika, One On One, Sector - 16, Gurgaon Total Development: 5,69,765 sq.ft (Appx) Floor Plate: 24,000 sq ft (Appx) No. of Floors: 3B + G + 6 & G + 35 Floor Offered : Multiple Options Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: Distance from the Airport Min 500 sq. ft. 325 sq ft Commercial 65 % (Appx.) Gurgaon A Grade 17 Km. Current Status Financials & other details: Under Construction Expected Completion December 2017 Asking Price Assured Returns INR 8.66 Million/ USD Mill 10.5% till possession and 9% after possession (for 36 months) Expected Annual Rent INR 7,80,000 / USD Expected Annual Yield 9% Type of Ownership Developer support for leasing Availability of larger units Freehold Yes Yes

53 Location Map: Vatika One On One

54 Site Plan:

55 Sector 16, Gurgaon Key Characteristics Excellent accessibility from the NH-8 with high visibility & branding Likely to be a first of its kind, world class development with some of the highest structures Tenant Profile IT/ITeS, FMCG, Banking, Retail, Consulting, Telecom companies Average Rental Values : INR per sq. ft. per month ($1.3 - $1.8) Average Capital Values : INR 13,000-18,000 per sq. ft. ($220- $300) Pros Modern buildings that are easily accessible from the NH-8 Close proximity to the international airport Scalability options easily available High cost of real estate Cons Distance from the CBD Insufficient public transportation provisioning at present A lot of buildings in the vicinity are poorly maintained Traffic Congestion during peak hours

56 Option 11 Option 1 Spaze IT Park, Sohna Road, Gurgaon Total Development: 14,00,000 sq.ft (Appx) Floor Plate: 84,000 sq ft (Appx) No. of Floors: 3B + G+ 12 Floor Offered : Sixth Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: Distance from the Airport 5372 sq. ft sq ft IT/ITeS 70% (Appx.) Gurgaon A Grade 19 Kms Current Status Tenant Asking Price Financials & other details: Ready to be leased Not yet leased INR Million / USD 0.61 Million Expected Annual Rent INR 3.54 Million/ USD Expected Annual Yield 9.85% Type of Ownership Freehold Expected Lease Period 9 Years (3+3+3 ) Expected Lock in Period 3 Years

57 Location Map: Spaze IT Park

58 Floor Plan: Sixth Floor; Spaze IT Park, Gurgaon

59 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well maintained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

60 Option 12 Option 1 Spaze IT Park, Sohna Road, Gurgaon Total Development: 14,00,000 sq.ft (Appx) Floor Plate: 84,000 sq ft (Appx) No. of Floors: 3B + G+ 12 Floor Offered : Sixth Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: 1000 sq. ft. 700 sq ft IT/ITeS 70% (Appx.) Gurgaon A Grade Financials & other details: Current Status Ready to be leased Tenant Not yet leased Asking Price INR 6.7 Million / USD 111,666 Expected Annual Rent INR 0.66 Million/ USD Expected Annual Yield 9.85% Type of Ownership Freehold Expected Lease Period 9 Years (3+3+3 ) Distance from the Airport 19 Kms Expected Lock in Period 3 Years

61 Location Map: Spaze IT Park

62 Floor Plan: Sixth Floor; Spaze IT Park, Gurgaon

63 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well maintained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

64 Option 13 Option 1 Imperia H2O Onyx, KP-5, Greater Noida West Total Development: 9,14,760 sq.ft (Appx) Floor Plate: 15,000 sq ft (Appx) No. of Floors: 3B+G+14 Floor Offered: Super Area: Carpet Area: Category: Efficiency: Location: Quality of Construction: 500 sq. ft. 335 sq ft IT / ITeS 67% (Appx.) Gr. Noida A Grade Current Status Financials & other details: Under Construction Expected Completion December 2016 Asking Price INR Million / USD 44,492 Assured return till possession 14% Pre-lease rental for 3 years post possession Expected Annual Yield 9.14 % Type of ownership Developer support for leasing INR 2,40,000 / USD 4068 Leasehold Yes Type of development: Mixed Use Availability of larger units Yes

65 Location Map: Imperia H2O Onyx

66 Site Plan:

67 Overview: Greater Noida Key Characteristics Arguably one of the most well planned cities in the National Capital Region with excellent infrastructure Presence of large number of corporates such as Honda, Yamaha, LG, Moserbear, Minda, Samsung, Wipro, HCL, NIIT etc. Tenant Profile IT/ITeS, Automobiles, Consumer Durables Average Rental Values : INR per sq. ft. per month ($ $0.70) Average Capital Values : INR per sq. ft. ($75 - $80) Pros Located in the 4th largest BPO hub of India Largest residential hub around homes in radius of 5 km Connected by 5 expressways including FNG Presence of sport complex, stadium, golf course and institutions Cons Distance from the airport Currently no metro network (Proposed to be connected) Attracting skilled manpower still remains a challenge Occasional incidents of law & order

68 Option 14 Option 1 Iris Tech Park, Sohna Road, Gurgaon Total Development: 3,36,000 sq.ft (Appx) Floor Plate: 35,000 sq ft (Appx) No. of Floors: 3B + G+ 10 Floor Offered : Tenth Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: 2296 sq. ft sq ft IT/ITeS 70 % (Appx.) Gurgaon A Grade Financials & other details: Current Status Leased in a furnished format Tenant M/S Asian Oilfield Services Ltd. Asking Price INR 23.1 Million / USD 385,728 Annual Rent INR 17,35,776 / USD 28,929 Annual Yield 7.5 % Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Lock in Period 3 Years Distance from the Airport 19 Kms Escalation in Rent 15% at the end of three years

69 Location Map: Iris Tech Park, Sohna Road

70 Floor Plan: Tenth Floor; Iris Tech Park, Gurgaon

71 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well maintained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

72 Option 15 Option 1 Total Development: Iris Tech Park, Sohna Road, Gurgaon 3,36,000 sq.ft (Appx) Floor Plate: 35,000 sq ft (Appx) No. of Floors: 3B + G+ 10 Floor Offered : Seventh Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: Distance from the Airport 2647 sq. ft sq ft IT/ITeS 70 % (Appx.) Gurgaon A Grade 19 Kms Current Status Tenant Financials & other details: Leased in a furnished format M/S American Swan Lifestyle Company Pvt. Ltd. Asking Price INR 27.5 Million / USD 466,589 Annual Rent INR 20,64,660 / USD 34,994 Annual Yield 7.5 % Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Lock in Period Escalation in Rent 2 Years 15% at the end of three years

73 Location Map: Iris Tech Park, Sohna Road

74 Floor Plan: Seventh Floor; Iris Tech Park, Gurgaon

75 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well maintained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

76 Option 16 Option 1 Iris Tech Park, Sohna Road, Gurgaon Total Development: 3,36,000 sq.ft (Appx) Floor Plate: 35,000 sq ft (Appx) No. of Floors: 3B + G+ 10 Floor Offered : Fourth Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: 1705 sq. ft sq ft IT/ITeS 70 % (Appx.) Gurgaon A Grade Financials & other details: Current Status Leased in a furnished format Tenant M/S Getit Infoservices Pvt. Ltd. Asking Price INR Million / USD 291,295 Annual Rent INR 12,88,980 / USD Annual Yield 7.5 % Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Lock in Period 3 Years Distance from the Airport 19 Kms Escalation in Rent 15% at the end of three years

77 Location Map: Iris Tech Park, Sohna Road

78 Floor Plan: Fourth Floor; Iris Tech Park, Gurgaon

79 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well maintained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

80 Option 17 Option 1 Iris Tech Park, Sohna Road, Gurgaon Total Development: 3,36,000 sq.ft (Appx) Floor Plate: 35,000 sq ft (Appx) No. of Floors: 3B + G+ 10 Floor Offered : Ninth Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: Distance from the Airport 2500 sq. ft sq ft IT/ITeS 70 % (Appx.) Gurgaon A Grade 19 Kms Current Status Tenant Financials & other details: Leased in a furnished format M/S Kvantum Marketing Insights Pvt. Ltd. Asking Price INR 26 Million / USD 440,678 Annual Rent INR 19,50,000 / USD 33,050 Annual Yield 7.5 % Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Lock in Period Escalation in Rent 3 Years 15% at the end of three years

81 Location Map: Iris Tech Park, Sohna Road

82 Floor Plan: Ninth Floor Iris Tech Park, Gurgaon

83 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well maintained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

84 Option 18 Option 1 Iris Tech Park, Sohna Road, Gurgaon Total Development: 3,36,000 sq.ft (Appx) Floor Plate: 35,000 sq ft (Appx) No. of Floors: 3B + G+ 10 Floor Offered : Fourth Super Area: Carpet Area: Category: Efficiency Location: Quality of Construction: 2663 sq. ft sq ft IT/ITeS 70 % (Appx.) Gurgaon A Grade Financials & other details: Current Status Leased in a furnished format Tenant M/S AD2C India Pvt. Ltd. Asking Price INR 27.3 Million / USD 462,188 Annual Rent INR 20,45,184 / USD 34,664 Annual Yield 7.5 % Type of Ownership Freehold Lease Period 9 Years (3+3+3 ) Lock in Period 3 Years Distance from the Airport 19 Kms Escalation in Rent 15% at the end of three years

85 Location Map: Iris Tech Park, Sohna Road

86 Floor Plan: Fourth Floor; Iris Tech Park, Gurgaon

87 Overview: Sohna Road Key Characteristics Emerging hub with comparatively cheaper real estate options in close proximity to residential colonies Newly constructed Grade A buildings which are generally well maintained Tenant Profile IT/ITeS, Banking & Finance, Automobile companies and showrooms Average Rental Values : INR per sq. ft. per month ($0.7 - $0.90) Average Capital Values : INR per sq. ft. ($80- $130) Pros Affordable real estate costs Close proximity to residential apartments Availability of Grade A buildings Plenty of real estate options to choose from Cons Upcoming infrastructure Chaotic traffic condition during office hours Accessibility is an issue with limited public transportation options Distance from the airport and other parts of Delhi

88 Thank You Blue Stone Projects Private Limited Level 4, Augusta Point Golf Course Road, Gurgaon Website: India: Gaurav Passi Mobile: E Mail: gaurav@bluestonepartners.in USA: Bhavna Singh Australia: Sushie Diwedi Mobile: Mobile: E Mail: bhavna@bluestonepartners.in E Mail: sushie@bluestonepartners.in