The Prime Estates is a Partnership firm engaged in real estate development for the last 8 Years. They have been associated with a following project .The present proposal involves the Sale of Devleoped Plots in a Gated Community at Kuvathur, Kanchipuram District. They have netered into a Joint Venture Project with the Land lords for developing a residemtial Lay out involving a area of 5.73 Acres And another project In Kuthambakkam village 9 acres for development of CMDA approved plots.
Currently, about 5% of India's GDP is contributed by the housing sector. The GDP share of the Real Estate Sector (including ownership of dwellings) along with the business services was 10.60% in 2010 – 11. Estimate show that every rupee invested that is invested in housing and construction, 0.78 paisa gets added to GDP. Housing ranks fourth in terms of the multiplier effect on the economy and third among 14 major industries in terms of total linkage effect according to Economic Survey 2011 – 12.
India will have around 27 to 30 million shortage of housing units by 2013 and for this, huge amount is required to carry on the development. The real estate sector in India is being recognized as an infrastructure service that is driving the economic growth of our country. In fact FDI in the sector is expected to increase to US $ 25 Bn in the next 10 years, from present US $ 4 Bn. Residential property prices are stabilized now and deemed attractive for the NRI home buyer.
The firm already completed a good joint venture project in a prestigious location. The project is in an elite location and was constructed with luxury finishes. The property is at V.Gangadaran Street, in Nungambakkam near Valluvar Kottam in a posh location. We had entered into a Joint Venture Agreement with the Landlord to develop this property. We have constructed 4 flats The construction envisaged by was of a very high quality targeting the high end customers. As such as the materials used and the amenities provided was comparable to the best in the High end Market.