Andheri project finished in less than 12 months; repays entire SWAMIH capital
Project Overview
Gem Paradise is a residential society development project with total carpet area of 0.56L Sq ft and 67 units
Project being developed by Vayuputra Builders & Infrastructures Pvt Ltd.
The Location
Project is located in D N Nagar, Andheri (West) with excellent connectivity by road, rail and metro
Project History
Project was re-launched in 2017 after removal of previous Developer in 2014.
Due to long history of litigation along with NBFC crisis and it being 1st project of Developer, funding became a challenge.
Overall, the redevelopment was delayed by about 10 years.
SWAMIH Investment
Project was re-launched in 2017 after removal of previous Developer in 2014.
Due to long history of litigation along with NBFC crisis and it being 1st project of Developer, funding became a challenge.
Overall, the redevelopment was delayed by about 10 years.
SWAMIH Impact
Project completed within ~1. 5 years of investment despite losing 3-4 months in covid lockdowns.
Monitoring to ensure no diversion of funds u2013 all inflows are used for project completion
Contractor/vendors dues cleared. Salaries paid to the employees
28 new units sold; ~44 Cr collected
67 homebuyers + society members to finally get their homes
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