7.6 Acres Land for Sale in Mysore

LJ Hooker - TOTAL REAL ESTATE SOLUTIONS

PHONE : +91 96118 10905 OFFICE : +91 80 – 2559 0005 EMAIL : [email protected]

This document shall be referred to as the Information Memorandum (IM) for the Expression of Interest (EOI) campaign of the registered property owners, and will comprise the only information package which is being made available by LJH to Bidders in accordance with the details contained herein.

The landowners have appointed LJ Hooker (LJH) as its Consultant to advise on the process of finding a suitable buyer for this site. The purpose of this document is to provide Bidders with basic and preliminary information to assist the formulation of their initial Bid and is issued upon the express understanding that recipients will use it only for the purposes set out therein.

This document has been prepared on the basis of available information and the Bidders should conduct their own due diligence, investigation and analysis. Further, it should not be assumed that there shall be no change or deviation in the information provided. While LJH has taken due care to try and ensure the accuracy of the information contained in this IM, it has not conducted any due diligence and does not confirm the accuracy, adequacy, sufficiency or otherwise of any information contained in this IM.

This IM does not, and does not purport to, contain all the information and data each Bidder and/or its advisors may desire or require in reaching decisions concerning their Bids. Each Bidder should conduct his own investigations and analysis and should check the accuracy, reliability and completeness of the information in this IM. Bidders should form their own views as to whether information provided herein or separately is relevant to any decisions that they make and should make their own independent investigations in relation to any additional information that they may require.

The information contained in this IM or any other information which may be provided to Bidders is subject to change without notice. Further, it should not be assumed that there shall be no deviation or change in any information provided. LJH may, in its absolute discretion, but without being under any obligation to do so, update, amend or supplement the information contained herein including the envisaged transaction process mentioned.

While this IM has been prepared in good faith, neither the landowners, nor its employees or its Consultant (LJH) make any representation or warranty, express or implied, or accept any responsibility or liability, whatsoever, in respect of any statements or omissions herein, or the accuracy, completeness or reliability of information, and shall incur no liability, under any law, statute, rules or regulations as to the accuracy, reliability or completeness of this IM, even if any loss or damage is caused by any act or omission on the part of the landowners or its employees or its Consultant , whether negligent or otherwise.

This IM has not been filed, registered or approved by any regulatory or judicial authority. Recipients of this document, resident in jurisdictions outside India as well as those residents in India should inform themselves of and observe any applicable legal requirements and the landowners, its representatives and its Consultant will not be responsible for compliance with the same.

DISCLAIMER



All enquiries should be directed in the first instance to :

Mr. B. M. Poonacha

Senior Manager – Land and Special Projects

+91 9611810905

[email protected]

LJ Hooker are pleased to offer this signifcant opportunity to the market on behalf of the property owners, M/s ROHAN DREAM HOMES (P) LTD.

The owners hereby seek expressions of interest from suitable parties to make an outright purchase

of this landmark property.

It is envisaged that the succesful entity could be an individual company, or a consortium that has

demonstrated capacity to close the transaction.

Interested parties are required to complete the Expression of Interest documentation provided, and

to submit the same with the refundable earnest money to the Managing Agent, LJ Hooker, prior to

the closing date as advertised.



A Growing Satellite City Famous For Its Grandeur and Tranquillity

MYSORE



CONTENTS

1. OVERVIEW 1.1. General Overview

1.2. Mysore Snapshot

1.3. Project location

1.4. Site Details

1.5. Development Options

1.6. Current status

2. LAND DETAILS 2.1. Copy of Survey Plan

2.2. Legal Opinion of Title

3. TERMS 3.1. Preferred model

3.2. Alternate models that may be considered

4. RESPONSE DOCUMENT 4.1. Terms and Conditions

4.2. Return E.O.I for completion

Annexure

A. Response Document



1. OVERVIEW

1.1 GENERAL OVERVIEW

The opportunity is to purchase a 7.6 acre (330,268 sft) parcel of land, having a frontage of 1400 ft

(425 meters), situated on Harishchandra Road, Fort Mohalla, Mysore, preferably through an outright

purchase of the owners’ title.

The plot, located close to the Mysore Race Club Limited, Jayachamaraja Wadiyar Golf Club, The

Mysore Palace and other landmarks of the city. The land parcel is in close proximity to the

residential layouts viz. Fort Mohalla, Vidyaranyapura, Chamundipura. It is just 600 meters from

Mahatma Gandhi Road and has potential for a very marketable residential apartment project or an

A++ commercial office space or a mixed use development.

The site has a current FAR of 2 rendering a potential development area of up to 6,60,535 sft (61,388

sqmtrs)

1.2 MYSORE SNAPSHOT

Mysore also known as the Cultural Capital of Karnataka State in South India, is the 2nd largest city in

Karnataka (population of over 1 million), and features among the most preferred tourist

destinations.

Mysore, the imperial city, is the erstwhile capital of the Mysore State. Situated 763 meters above sea

level and surrounded by hill ranges from north to south, Mysore revels in maintaining its old world

charm and mysticism. About 140 Kms from Bangalore, Mysore has never failed to mesmerise

tourists with its quaint charm, rich heritage, magnificent palaces, beautifully laid-out gardens,

imposing buildings, broad shady avenues and sacred temples.

Mysore’s status as a premier educational centre cannot be undermined. With a multitude of

professional Educational Institutions in the fields of Engineering, Management, Law, Medical Colleges

apart from Vocational Training Institutions, Mysore has abundant supply of technically qualified

Manpower.

The emergence of Bangalore as the knowledge capital of the country and its recognition as the

world’s fourth largest technology hub employing about 4,25,000 in IT and 1,75,000 in the ITES

segment has had its spill over effect on Mysore with the advent of IT and BPO firms and a growing

young and dynamic workforce, this regal city is trying to strike a balance between the good old days

while trying to keep up pace with the changes affecting it; A city that is old, yet new. Mysore is also

well known for its yoga centres like Ashtanga yoga which originated here.

With Bangalore getting saturated and bursting at its seams, Mysore is a very attractive cost-effective

alternative location. Mysore is well connected by Rail, Road and Air to the State Capital Bangalore



1. OVERVIEW (contd.)

and the rest of the Country. Infrastructure is being upgraded to national standards with works on

various project like new SEZ, Industrial Estates, Road widening, 24 x 7 Water Supply, expansion of

the Airport, Double Track Rail link with Bangalore, a New Expressway of international standards

connecting Bangalore and several Star Hotels in full swing.

Industries in Mysore

The Mysore industrial zone is a fine blend of industries and educational institutions known for

excellence. Since ages, Mysore is known for its traditional silk sarees, exotic sandalwood oil and

incense. While tourism is the major industry in Mysore, the growth of information technology

related industry in the first decade of the 21st century has resulted in the city emerging as the

Second largest software exporter in the state of Karnataka, next to Bangalore. Industries in Mysore

are mainly concentrated around the industrial areas located in Belagola, Belawadi, Hebbal (Electronic

City), Hootagalli, Nanjangud and Thandavapur.

The Next IT Hub

Mysore is proving to be the next IT hub in Karnataka after the phenomenal success of Bangalore.

The Government of India has recognised the potential of Mysore to emerge as the number one city

among the 20 Tier II cities of India for the promotion of IT industry. Currently, most of the IT

related industries in Mysore and the Software Technology Park (STP) are concentrated around the

Hebbal and Belavadi Industrial Areas.

The Next Investment Destination

Mysore being the second largest city of Karnataka, one of the five most industrial states of the

country, over 500 MNCs and 66 global fortune 500 companies are doing business in the state. If one

had ever been exploring business opportunities in the state, Mysore provides convincing reasons for

the same.

The city holds you the promise of an investor-friendly environment with highly simplified

procedures and fast track approvals through single window mechanism. Good connectivity and good

logistics support and spur investments.

Mysore has good presence of leading IT, Biotechnology, Electronics, Telecommunications and Heavy

Machinery Industries such as BEML, J.K. Tyres, RBI Note Press, Nestle, L & T Infotech, L & T

Electronics, Hindustan Unilever, Automotive Axles (Bharath Forge), Reckitt Benckiser, TVS Motors,

AT & S, Reid & Taylor and South India Paper Mills to name a few. Infosys has established one of the

largest technical training centres in the world and Wipro has established its Global Service

Management Centre (GSMC) at Mysore. This is attributed to excellent telecommunication network

and optical fibre connectivity. The city is endowed with perhaps the best industrial relations and




congenial law and order conditions in the country. For most enterprises, availability of skilled

manpower remains the most harrowing bottleneck. Mysore exhibits an immaculate blend of

traditional and modern industries and excellent educational and training institutions. This explains

the availability of highly skilled manpower churned out by a large number of engineering colleges and

technical institutions. The city also houses world class research and development institutions in the

country such as CFTRI, DFRL, CSRTI, BARC etc. Excellent infrastructure, availability of land and

quality power and water supply ensure smooth functioning of enterprises.

For industrial Establishments usually Land is at a premium and sites for medium to larger scale

development are extremely rare. But Mysore has abundant availability of suitable land. Mysore has

moderate climate and the weather throughout the year is pleasant. The summers are warm and

winters are cool.




1.3 PROJECT LOCATION DETAILS

The site is located on the Harishchandra Road in Fort Mohalla and formerly housed the Surabhi

Dairy Farm. The site is about 7.6 acres of commercial land situated on a State Highway leading to

Kozhikode (Kerala), This road is also an alternate route to Ootacamund (Ooty) . Mysore’s largest

tourist spots the Mysore Palace and the Chamundi Hills are just a stones throw away. Well known

resorts and spas are also located nearby.

The site is about 4 kilometres from Mysore Railway Station, 6.9 k.m from the Mysore Airport and is

centrally located in the off-CBD area – an area where land parcels of comparable size are now very

scarce. The site is suitable for commercial development.

The land was acquired by the current owner in 2008 and thereafter converted for commercial use.

North – South View East - West View

View of Chamundi Hills from Site




1.4 SITE DETAILS

This prime site has an approximate 1400 feet frontage in the Western direction and located on the

State Highway connecting Mysore to Kozhikode (& Ooty). The North facing entrance provides a

clear 100 feet frontage. The topography is generally level, with the site longer in the North – South

Direction.

A satellite image of the property is provided below to give an idea of the perimeter and location.

Site Sketch

Location Map




1.5 DEVELOPMENT OPTIONS

Due to the location and current zoning & land use the following options are believed possible:

Option 1: Residential Apartments

The site can be developed in to a residential apartment project targeting the mid – upper level

buyer.

The FSI is 2 giving a total possible built area of some 6,60,535 sft (with site cover of 45% and a floor

plate of approximately 1,48600 sft this would give a size of G+ 4)

Land Use Built up area

Residential Apartments 6,60,535 sft

We believe that apartments in this location could sell at Rs. 2750 to 3000/sft.

Option 2: Commercial Office Space

This site can be developed into a A++ commercial office space.

Commercial buildings in this location can garner a conservative rental of Rs. 25 /sft. At a capitalised

value at a 10% rate this amounts to around Rs. 3000/sft.

Target clientele would be IT companies, large corporate entities, ITES, BPO, Back offices of Financial

Services/Banking companies.

Option 3: Mixed use Development

In this option, we recommend a master plan mix as below:

Land use Percentage BUA Sale/rental value

Office Space 30% 1,98,160 sft Rs. 25/sft

Retail 15% 99,080 sft Rs. 55/sft

Residential 55% 363,294 sft Rs. 2750/sft

The combined sale value of this configuration would be around Rs. 3400/sft.

Note: The bidders are advised to calculate the cost of construction, approvals, site development, architecture

fees and other related expenses before submitting their bids.




1.6 CURRENT STATUS

Land Title:

The plot is owned by M/s Rohan Dream Homes (P) Ltd., who is the rightful owners of the property

and have legal title over the same. This is an SPV established to acquire and hold this property.

The bidders would need, as a part of their due diligence, to get their advocate to verify the title. All

documents for the same can be provided to the prospective bidders in due course of time.

Available BUA : 6,60,535 sft.

(As per current FAR)

Sanctions and Approvals:

The current land use is commercial. The bidder would have to account for sanctions and approvals

for his proposed projects.



2. LAND DETAILS

2.1 SURVEY PLAN

2.2 LEGAL TITLE OF THE LAND

A detailed title report has been compiled by leading advocates Sagar & Co. Copy of this can

be provided to the bidders on written request. We recommend a detailed legal opinion by the

bidders advocate as part of their due diligence process.



3. TERMS

3.1 PREFERRED MODEL

The land owners wish to dispose off the property for reinvestment in other on going projects and as a result their goal is an outright sale of the property.

Primary Issues of the land owners are:

1. Wish to exit the property in a complete and ‘clean’ manner.

2. Have the transaction completed in a business-like manner with time being of the essence (subject to clear title being made available).

3. To deal with only reputable entities having proven capacity to complete.

Preferred Model

The favoured option is as an outright sale to the incoming party(s), where;

1. The price and terms are established through a detailed MOU.

2. Prior to completion the landowners provide full and clear title

The land owner will be reviewing the incoming party’s demonstrated ability to complete such a transaction.

If a bidder submits a non-compliant bid they should clearly demonstrate the terms of their offer and outline the benefits to the seller.

Note: The sale can also be executed through sale of company shares to transfer ownership to the buyer.

3.2 ALTERNATE MODELS THAT MAY BE CONSIDERED

The client may consider a JV option with reputed developers looking at creating land mark projects in Mysore.

However, the preference would be an outright sale



4. RESPONSE DOCUMENT

The response document is attached under separate cover

Details required from interested parties include;

1. Bidder details including contact details for the relevant officers.

2. Bidders financial standing

3. Price and terms being offered

4. Details of any outstanding issues in regards the bidders Due Diligence

5. If a non-compliant offer full details of bid terms

The response document must be lodged with a cheque/Demand Draft for the refundable earnest money * (Rs.5 lac) no later than Friday 16th March 2012 at 5pm at the LJ Hooker Office.

Once the EOI closes the landowners will review the submissions and short list those that they wish to pursue negotiations with. All parties will be informed of the status of their submission within 14 days of the close of the EOI.

Expressions of Interest Close Friday 16th March 2012

at 5pm

Lodge your Response Document (and cheque made Payable to Ausdia Project Marketing Pvt Ltd LJH - Sales Account) in sealed cover marked “Surabhi Dairy Farm Land – EOI Bid” at

LJ Hooker Project Marketing

201, Raheja Plaza, Commissariat Road, Bangalore – 560 025

* The Rs. 5 lac cheque for the bidders Earnest Money will be refunded within 7 days of withdrawal of a bidders Response Document or 7 days after the Landowner declines the bidders EOI, whichever occurs first. For the successful bidder the Rs.5 lac will become part of the final consideration between the parties.

Documents

7.6 Acres Land for Sale in Mysore