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Commercial cum Residential Project
Fixed return NCD, secured by development rights of commercial cum residential project in Dharavi, BKC, Mumbai
Issue Size
Upto ₹15 Cr.
Participation
Multiple of ₹10 Lac
Fixed IRR
18% p.a.
Investment Cover
Min. 2x
Tenure
24 months
(3 months Lock-in)
Interest Payment
Qtrly - Till 31/03/2024
Monthly- from April 2024
RANK FINWORLD LLP IS INVESTING 10% OF THE DISBURSED AMOUNT AS A PRINCIPLE INVESTOR
Project Configuration
- Big box Retail
- Shop & Office
- 2BHK & 3BHK
Amenities
- Banquet Hall, Swimming Pool,
- Fitness Centre, Parking, Garden,
- High Street Retail, Big Box Store
Connectivity
- Project situated at Sion-Bandra Link Road -2 mins.
- Proposed Dharavi Metro Station- 2 mins.
- Sion Railway Station - 3 mins.
Current Construction Status
- Rehab Building completed
- - A wing Full OC received
- - B wing part OC received
- Sale Building Shore Piling started
| Saleable Area (RERA CARPET) |
249 Residential Units ~ 1.36 lac sq.ft. 29 Commercial Units ~ 0.45 lac sq.ft. |
| Total Project cost | ~ ₹ 284 crore |
| Promoters Contribution | ~ ₹ 76 crore till date |
| Revenue at MSP | ~ ₹ 478 Crore |
| Profitability | ~ ₹ 194 Crore (69%) |
About Labdhi Group
Past projects by Labdhi
| Project Name | Location | Type of Project | Project Size | Status |
| Labdhi Gardens Phase 1 | Neral - Karjat | Residential | 1.64 lac. sq.ft. | Completed |
| Labdhi Gardens Phase 2 | Neral - Karjat | Residential | 1.97 lac. sq.ft. | Completed |
| Labdhi Gardens Phase 3 | Neral - Karjat | Residential | 1.65 lac. sq.ft. | Completed |
| Labdhi Gardens Phase 4 | Neral - Karjat | Residential | 1.95 lac. sq.ft. | Completed |
| Labdhi Gardens Phase 5 | Neral - Karjat | Residential | 1.85 lac. sq.ft. | Completed |
| Total | 9.07 lac. sq.ft. |
Ongoing project status
| Project Name | Type of Project | Total No. of Units | Units Sold | Collection |
| Labdhi Gardens | Residential | 482 | 270 | ₹ 57.65 Cr. |
| Labdhi Seabreeze | Residential & Commercial | 249 | 208 | ₹ 102.25 Cr. |
Security
- Exclusive First Charge by way of a Registered mortgage on the development rights, unsold units and entire cashflows including receivables
- Corporate Guarantee from the Flagship Company
- Personal Guarantee from Promoters and shareholders
- 100% pledge of shares
- DPNs & PDCs as per N.I Act
- Security Covered - Min. 2x throughout the tenure of loan
- Sole and exclusive charge on ISRA
- Monitored end use - Payment to be used towards Stamp Duty for JDA Registration, approval and construction cost
- Face value of Debutures - ₹ 5,00,000/- each
- Issuer / Obligor - M/s LABDHI BLISS PRIVATE LIMITED
- Promoters and Guarantors - Mr. Vikas Kewalchand Jain, Mrs. Amita Vikas Jain (M/s LABDHI LIFESTYLE LIMITED (Flagship Company))
Project configuration
| Type | Area (sq ft) | No. of units |
| Big box Retail | 23076.62 | 1 |
| Shop | 2932- 4942 | 4 |
| Office | 189- 648 | 21 |
| 2BHK | 537-732 | 198 |
| 3BHK | 882-922 | 47 |
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