Time and again each project has drawn wholehearted response, with an ever eager investor, homemaker and business community waiting to own our property. Where else can one find so much faith but in those golden little nuggets that teach us how to lead a clean and pure life. For, only when we practice a superior quality of life, can we initiate the world into following the same.
Upturn in Residential Property Mart: Chennai
The demand has been more pronounced for residential property in and around the city. Fierce completion aggravated by the entry of nationalized banks, fiscal lending norms, all time low interest rates, fiscal sops and freebies in the form of waiver of processing fees and personal accident insurance are instrumental in driving the demand from end users and investors.
In stark contrast to the situation prevailed three year ago, the Chennai city is back with renewed enthusiasm and reverting the attention of investor in housing. There has been a consistent demand for built units or those nearing completion. The driving force behind the sudden spurt in demand for apartments ranges from dip in lending rates, flexible financing norms to fiscal sops for investments in housing. Apartment prices are likely to go up in city areas where scarcity of land is acute in suburbs where demand exceeds supply. The market is vibrant in that besides new entrants to the city, established developers are gearing up to launch new projects. With emphasis on quality, aesthetics, additional amenities and properly management services, today's home buyers increasingly demand more value for their money and they are getting it as well.
The Chennai real estate market is witnessing frenzied activity across all sectors, Call centers and other IT-enabled services, retail malls and middle class residential apartments are driving the market. The falling rates of interest and the tax breaks offered on housing loans continue to drive interest in residential real estate. Most of the residential real estate is purchased today by end users. But with the consumers becoming savvy, the demand is for good quality housing with a high level of lifestyle components such as clubs, parks, shopping complexes etc. Social infrastructure such as schools, colleges and medical facilities has started affecting real estate values. This will be more marked at the end of the year when another stretch of the Chennai Metro becomes functional. An estimated 4-5 million sq. ft. residential property supply is likely to enter the market in the next two years.
The commercial property market has revived with acute shortage of grade a quality office space in demand. With Chennai continuing to remain as a hot destination for multinational and corporates and economics recovery well on its way, office space with amenities and maintenance are lying unutilized for quite sometime are being slowly absorbed. On seeing the sudden uptrend, a few residential property developers are switching over to development of commercial projects. This sudden turn may affect residential property supply level in the near future which in turn may also lead to a price spiral, according to realtors who have been closely monitoring the changing market dynamics.
Le Royale Foundations is a Partnership Firm Incorporated on 20th day of April 2005 , having its Corporate office at Flat No.D,IInd Floor,Old No.77,New No.1,Nehru Street,Razzack Garden,Arumbakkam,Chennai-600 106.. The Promoter entered into Construction of residential Property in the name and Style of M/s. The Royale Demeure in the year1999 and with the support of New Partners the firm started a firm under the name and style of M/s. Le Royale Demeure at No.58,Old No.15,Y Block,5th Avenue, Anna Nagar,Chennai-600 040. During the period of Operation the Firm completed more than 9 Projects in Chennai and 3 on going project in on around the Chennai. The main objective of the company being, promoting housing and property development with a well-knit team of qualified professional to undertake project implementation work. The Firm is less likely to see the future challenges as a dilemma.
The Firm is an emerging player in the construction industries. The promoters of the Firm are T.Govindaseetharam, T.Alimelu, P.B.Srikanth, R.Rajeswar, P.S.Anuja, R.Sajjana Priya is a team of experienced person, whose expertise is rooted in a strong technological base, operational resources and with impressive entrepreneurial background.
Due to increase in demand and volume of business, we have incorporated our sister concern in name and style as M/S. LE ROYALE BUILDERS PVT. LTD., on 13th May, 2011. This company has expanded its activities by inducting technically and financially sound experts in this construction field. Mr.P.B. Srikanth is the Chairman and Mr.R.Rajeswar is Managing Director of the M/s. Le Royale Builders Pvt.Ltd.,
ACTIVITIES OF THE FIRM:
M/s. Le Royale Foundation and M/s. Le Royale Builders Pvt.Ltd., are engaged in the business of selling, developing, maintaining properties and construction works in Tamil Nadu. We also act as a consultants, distribution of building material and consultants for goods, material and Services relating to the development of the property. The firm has executed the below mentioned projects at several places:
The Firm had accomplished several numbers of residential projects of various sizes and has grown from strength to strength in the last year. The Company distinct departments co-ordinate with the consulting engineers for project planning, architectural design and execution. The Promoters Associates concerns are managed by Sri P.B. Srikanth and Sri R. Rajeswar.
CURRENT FOCUS OF THE FIRM/COMPANY- The Middle Class Residential Segment:
Le Royale Foundation, after a review of its experience and its innate strength, has made conscious decision to focus on the ‘residential’ segment that it understands best. Le Royale Foundation has also decided to consolidate its position in Chennai before extending its reach to the rest of South India and later spreading its wings wider.
The decision to concentrate on Chennai has also led the company to choose the middle class segment as its niche. The reasons for picking this segment are two - the highest growth in Tamil Nadu is in this segment, the space for the limited demand of luxury apartment is already over crowded with experienced players. Moreover, Promoter’s experience profile suits this segment best – the company’s understanding of their needs, their limitations and reputations that the company has in this segment that has been built mostly on word of mouth. In addition, the Firm is thorough with the in’s and out’s of formalities related to documentation, mortgage etc. required by these buyers who avail of loans from their employers, banks or building societies.
In fact, Le Royale Foundation’s reputation as a reliable builder relies on the trust of its clients that they would iron out all the problems in documentations requirements in having their loans cleared and disbursement made on time.
PERFORMANCE OF FIRM:-
Highlights of the performance of the Firms Audited for the year ending 31st March 2011 , given as under:
|Profit before Tax
|Deposits and Advances
Le Royale Foundation and M/s. Le Royale Builders Pvt.Ltd., are having office at No. 1, Nehru Street, Flat No.3, II Floor, Razack Garden, Arumbakkam, Chennai-600 106. The Company has fully furnished office with computer aided design and planning Department supported by Accounts and Inventory System. The Company’s office is centrally located between sites in different places.
Marketing function is personally handled by Sri. P.B.Srikanth, Administration managed by Sri. T.Govindaseetharam and Building Operation works are carried out by Sri. R.Rajeswar .The Company has made a significant dent in the market and has built up blue-chip clientele which includes MNC's, Bank's, Financial institutions, Software Companies, Government Companies and other Corporate high net worth individuals.
SOURCES OF SUPPLY :
Le Royale Foundations has already established stable source of supply from different Market Leaders, to name a few:-
S. No. Name of Company
1. RMC Readymix (India) Pvt. Ltd.
2. Penna Cement Industries Ltd.
3. Vax Consultants Private Limited
4. Smart Sanitary Stores Private Limited
5. F.G.R. & Co.
6. Birla Ready mix
7. Om Sakthi Steels
7. Swift Engineering.
9 . Om Sakthi Agencies
10. The India Cements Company
11. R A & Company
12. Annai Auxilium Steel Traders
13. Power Electricals
14. Sakunthala Agencies
15. Marble House
16. Granite & Granite
17. Sarvodaya Electricals
18. Chabara Steels
19. Marble World
20. Emgee Industries
21. Mehta Marbles
22. Dolphine Marketing
23. Johnson Tiles
24. Antony Depot
25. Loyal Sanitation P.Ltd.,
26. Chennai Roofings
27. Tamilnadu Electricals
29. NDR Industries
30. Kailash Timbers
OTHER STRENGTHS OF FIRM/COMPANY:
Soundness in specifications, top-notch and excellence in quality of materials used, design is the hallmark for all our creation, timely completion of the projects and value for money philosophy in amenities offered, and above all after-sales service are instrumental in driving the company to the pinnacle of glory. Aesthetic design, keeping in mind the contemporary life style, besides affordability and uncompromising quality, guide the construction. The company does not sub-contract any work on the site; every aspect of the construction is executed by in-house team,
thus ensuring control on price, schedule, workmanship and over all quality. A well-knit team, strict adherence to ethical practices, compliance with statutory regulation and the exquisite depiction of engineering designs of expert hands with an immaculate finish, are the hallmark of our company.
The Company depends to a great extent on its strengths in vendor relation and procuring all requirements on time.
Based on the track record and commitment to excel backed by full orders of next year business on hand and in pipeline, the company is all set to achieve higher levels of performance year after year and the year 2011-12
Would be in that direction and the Firm/company can manage the construction work at any place. Based on the past performance, the firm can able to achieve higher level of Performance in the forth coming years.
Project completed details
|S.No.||Site Address||Builtup Area||Date of Commencement||Status of the|
|(in sft)||& Completion||Project|
|1||Royale Garden,||5420||Commenced in||Work in|
|No.11, Krishna Nagar,||June, 2011||Progress|
|Thanikachalam Nagar, Chennai|
|2||Royale Palms||5460||Commenced in||Work in|
|No.77, Selvam Nagar,||June, 2011||Progress|
|Thanikachalam Nagar, Chennai|
|3||Royale Monarch,||6150||Commenced in||Work in|
|Plot No.10, A Block, IV Main Road,||August, 2011||Progress|
|Thanikachalam Nagar, Chennai|
|4||Royale Kala Sri Nivas,||6150||Commenced in||Work in|
|Plot No.176, Sri Ayyappa Nagar,||October, 2011||Progress|