FAQ - OFFICE SPACE @ EMPRASA STARTUP VALLEY What’s the project expanse? The commercial office space will have total saleable area of 2 Mn sq ft, which consist of 4,000-office space of 500 sq ft each (20,000 workstations). The community of 52 acres will house smart features and amenities like finishing business school for entrepreneurs, convention & exhibition centre, training centre and so on which will encourage various stake holders like VCs, incubators, startups to be present in the community. 1.
Where is it located? Emprasa startup City is located in Hoskote, Bangalore. The project is 4 kms from the Hoskote toll plaza. Airport and KR Puram is 30 mins from the project. 2.
How far is it from the city? K R Puram railway station is 20 mins, New international airport is 30 mins, Whitefield/ITPL is 15 mins, Volvo factory is 10 mins, Byapanahalli Metro Station is 25 mins. 3.
Why Hoskote? Taking its cue from Navi Mumbai, NEO Bangalore, also called Hoskote, is set to recreate the success of its inspiration
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A planned township near established industries & with world class connectivity, NEO Bangalore upholds the notion of developing a new Bangalore with a futuristic vision of a metropolis. A SEZ for Electronics, hardware & IT at Baglur; the Aero IT SEZ under development at Budigere will create employment for 100,000. Hoskote, which until recently was a small part of the city, Is now being rated as a up market area with great potential by developers & investors thanks to aggressive investment plans & developments. An Auto Hub of 1,500 acres is coming up in Narsapura, near NEO Bangalore. Logistics parks are coming up in Kambalipura, NEO Bangalore. Hoskote industrial area houses around 200 industrial units. Hoskote is home to the manufacturing units of many corporate giants including VOLVO, Bando & Honda.
In total, around 500 Japanese are expected to work in this corridor. Karnataka to set up 500 acre exclusive township for Japenese firms .Chief Minister Siddaramaiah said the township will come up at Vasantha Narsapura and it will host only Japanese firms . Mahindra & Mahindra Aero space is also in the process of being setup. 200 acres has been made available to IT sector on Malur road. In the last few years, land prices in Hoskote have witnessed tremendous growth, of more than 40%. To cater to such a surging industrial congregation, Residential space of more than 400,000 will be required in the next 3 years
What is the status of approvals? We have received IT Park approval from Karnataka Udyog Mitra for development of Commercial office space in 20 acres . 5.
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What are the features & common amenities? Star hotel Finishing Business School Auditorium Training Centre Multiplex Retail Stores Food court & restaurants Pubs & Night clubs Gym , Spa and Pool Sports Facilities (Indoor & Outdoor)
Is this a phased development & what is the timeline of completion? Yes, this is a phase wise development. The commercial tower in Phase 1 will be completed within 36 months with a grace period of 6 months 7.
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What is the current status of the project?
Road work is done and the site office is ready. Expected commencement by Q4 of this year . What are the unit sizes available? The office spaces are available in multiples of 500 sq ft units. 9.
10. Why purchase a
commercial unit in Emprasa? Traditionally, commercial units are available in sizes of about 50 Lakh. However at Emprasa, retail investors have an excellent opportunity to invest in commercial spaces of unit size as low as 500 sqft. Also, the Rate per sqft to own a commercial unit in Hoskote is 40% lower than current market price. 11. What
is the option of payment plans available to purchase a commercial Unit in Emprasa? There are three plans : Plan 1– 80% down payment Plan2 – 50% down payment Plan3 – 20% down payment 12. What is Pre
operative return (POR)? The purchaser shall be entitled for return at 10% per annum, till date of possession, on the cumulative amount that the purchaser has paid excluding Vat & Service Tax from the date of credit of amount in the bank amount, as an incentive for expediting and encouraging on time payments of due amounts. The eligible amount will be paid on a quarterly basis on the 15th of the month succeeding every quarter of the calendar year. If Tax deduction at source (TDS) applies on such payments, then the vendor /Developer shall pay the interest after deducting appropriate TDS as per the provisions of the Income-tax Act,1961. 13. What is the
assured rental? An assured rental @ 9% on the basic sale price will be paid for 3 years from the date of possession.
14. Are there any extra charges?
VAT, ST, Registration, stamp duty, Legal and documentation charges and any other taxes will be extra and on actual and will be charged as per prevailing rate. Service Tax: ST will be applicable at all payment stages. VAT: VAT will be charged as per the stage of construction as per prevailing rate Stamp duty, registration, legal and documentation charges and any other taxes will be only applicable at possession. 15. Will I get a
Bare/Warm shell unit? Warm shell (A warm shell unit will contain cement screed flooring, AHU and power backup) 16. What will be my expected property
value in six years time? Expected property value by 2022 is Rs 8,000 per sq ft 17. What will happen in case
developer is not continuing the project? In such cases developer will refund the entire amount paid by customer Is there any maintenance during lease period? Maintenance cost shall be payable by Tenant / occupier & not payable by owner during the locking period of 3 years . 18.
19. What
will happen in case customer wants to cancel, post execution of agreement? The developer will deduct 20% of total sale price and refund the balance amount less POR if any. 20. Can
I use the property post possession and still earn assured rentals? Client has to mandatory lease the property to Artha/ its Subsidiaries to get assured rentals. Under any circumstances client do not have option to occupy. 21. What will be
the building structure? Proposed structure will be G+12 levels. The complete structure detail will be
communicated post getting technical clearance from local authority. 22. What will be
the loading percentage? Approximately 30 % - 40%.
23. What will be
the maintenance charges? Maintenance charges shall be payable by occupant on quarterly basis in advance. This is applicable only after the assured rental period. The maintenance amount will be determined by the property management company. 24. Other charges as payable on possession
apart from BSP? Registration and Stamp duty and other taxes will be applicable as per the prevailing rates.
25. Do I get car parking?
Car parking will be provided post possession, on rentable basis. The property management company shall determine the rent. 26. Will I get UDS?
Yes approximately @ 50%. We are working on the same and we shall provide the details post technical clearance of super structure from local authority. 27. What will be
the exit option, can a client resell anytime and exit? No, client has to take NOC from the developer and clients can resell only by following the transfer and assignment clause in agreement, where he has to Pay Rs 1,00,000 as an assignment fees. After possession he is free to transfer or sell to any party without paying any additional charges to developer. 28. What will be
the process of leasing post three years assured rental return?
This will be managed by professional property management company .The project management company has exclusive right to lease & collect rent .The rent will be divided in proportionate to all owners from the total rent of particular floor area . 29. What will be
the booking amount? Rs. 200,000 (Two Lakhs) will be the booking amount. Allotment agreement will be signed as per payment plan plus service tax.
30. How does the purchaser/s make the balance payment?
The balance amount is payable vide PDC according to the payment plan. Partners 1. 2. 3. 4. 5. 6.
Squareyards: Marketing Partner Broadway Malyan : Master planners Deepak Mehta : Architects BMR advisors: Corporate advisors India Bulls: Preferred Banking partner Ramboll : Structural Design Consultant