Housing Project Studio 2020 : Surat

The 'Housing Project Studio' is focused on the development/redevelopment of the greenfield/brownfield sites in the selected cities around the country. This Periocular project aims at exploring the potential and feasibility of greenfield privately owned land development in Surat city. Over the years Surat city has grown rapidly both demographically and spatially majorly because of its economic drivers like textile, diamond, and other industries. A land parcel of a minimum of 9-10 hectare was to be selected in Surat city for exploring the potential of real estate development and it was done by applying the Delphi method over 7 sites across Surat, The selected land parcel was of Vesu, VIP road and comprehensive real estate development proposal for this site was made. The VIP road is a booming real estate market and it has become prime locations for residential and commercial development. Here as per micro-market, the Product mix, Unit size, Selling Price were identified. Then based on FSI iterations, Project Financials were worked out. Detailed cash flows were prepared by doing construction and sales schedules. The master plan was prepared by reviewing GDCR regulations. And the finance strategy was formulated for the Project based on financial determinants like IRR, NPV, ROI, and payback period.