Ozone Urbana | 187 acres township | APP

[avinash2060]

[engineer.akash]

Breathtaking...........Thanks Avinash for the renders

[avinash2060]

by Irfan Khan | July 03,2010 - 10:05 AM

Topics : Real Estate
Industries : Real Estate
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Ozone Group has raised Rs 200 Cr from Urban Infrastructure Real Estate Fund for its 'Urbana' township project in Bangalore and is planning to raise another Rs 100 Cr for this project in next few months.

Ozone has formed an SPV - Ozone Urbana Infra Developers Pvt.Ltd for executing this project.

Bangalore based Ozonegroup is launching a Rs 2800 Cr Urbana project, an integrated township planned in Devanhalli, Bangalore on 164 acres. The project will have retail, hospitality, education, IT & R&D campuses and residential units.

Transaction Reference: Hindu Business Line
Transaction Note

The first phase will need an investment of Rs 1,400 Cr of which Rs 400 Cr will be raised through bank debts. The company intends to fund the balance through internal accruals and advance from customers besides the pe investment.

In the past, Ozone Group has raised funding from Urban Infrastructure Opportunities fund (UIOF) and HDFC India Real Estate Fund.

UIOF has invested in Ozonegroup at both the entity level as well as in the SPV - Ozone Projects Private Limited, for The Metrozone, Chennai. HDFC Real Estate has also invested in this SPV.

'The Metrozone' is the flagship project of OzoneGroup, spread over 43 acres in Anna Nagar, Chennai. The project comprises high-end residential units, retail, commercial and hotel.

Urban Infra Real Estate Fund (UIREF) is a $500 Mn Mauritius based fund for investments investments in Indian Real Estate. UIREF and UIOF are advised by Urban Infrastructure VC Ltd.

Another Real Estate player, Ansal API is looking to raise PE for its 3,500 acre township project - Sushant Golf City in Lucknow by diluting upto 49% stake.

Deal Curry

[pan@search]

I am new to this.. so if i missed in noticing something, i am sorry for my ignorance. I just started my search for Plots.

This project looks great on paper. But being on higher side of pricing, i am little confused.

I am looking this project from the Investment purpose (if by completion time thing come up in surrounding, may also look for residence).

The current price is Rs 2100. What is good price we can predict say down 7-8 years, keeping in mind that the complete project will take at-least that much time (i am not convinced that it will be completed by 5 years, 7-8 year is min).

If it double (say 4200) in 7-8 years, then it means return of 12-14% (simple). Do we think this as good, seeing other avenues where the return over 7-10 years is about 15-20. Also, most of us take some amount of Loan and pay interest. So, the actual return will be lower than this also. Please give your view on this.

[avinash2060]

[european]

it looks amazing, when does the construction start?

[anonamou]

This project has been receding from it's promises... Well most projects of this size do get into trouble... but here are some clarifications now (in Red):
- The 167 acres is now under 150. - This is kind of true, but there are ongoing efforts from Ozone Group's side to retain the 10-15 acres loss (Horticulture department).
- The targets of launch have just plainly been delayed over 9 months (no explanations given). - Target launch is nearing. Maybe Pongal/Sankranthi.
- The commercial projects are a non-starter, also they are unable to attract investors. - Commercial work has now started. Saw this on the last visit (day-before).
- Their funding partners (Axis bank: to whom the property is mortgaged) are not issuing NOCs. - These are now issued, and HFC banks (like HDFC have also sanction, disbursed loans).
- CRISIL has issue C rating. - http://www.crisil.com/Ratings/Rating...rs_31aug09.htm - This is something that CRISIL did on their own, Ozone Group did not go in for a CRISIL certification or audit. Most real-estate projects do not go in for it. Anyway, what is important is the funding they wanted from Banks... and this is available today.
- Very very un-friendly staff and unprofessional way of dealing. Delays on every single little transaction. - They finally helped. But this is a point they could surely improve upon.
- And now, the KIADB land row (for commercial lands, SEZ notification, etc) and illegal land-grabbing by Ozone via highly influential people - http://www.deccanherald.com/content/...ay-sharks.html - The KIADB land row does not effect Urbana, but there is some part of commercial land expected back in the form of grant (which they are confident about). The DH article really is referring to the first point (Horticulture department).

[Indian Sun]

sad, the renders looked so good.

[sweetysmiley]

hey guys, never ever believe this ozone group. they are involved in a big land scam (in their urbana project) and not ready to pay back the money to its investors. their customer service is very very bad. the guy who is leading the bangalore group is very very bad and too rude. pls go through the below links before u plan an investment with ozone group, especially ozone urbana.
http://www.deccanherald.com/content/...ay-sharks.html
http://www.crisil.com/Ratings/Rating...rs_31aug09.htm

[sweetysmiley]

Guys,

Pls dont invest in Ozone Urbana township project. They are involved in a very big land scam. They have grabbed land from government and trying to make it legal. Pls go through the below links before u plan to invest anything with ozone.

http://www.deccanherald.com/content/...ay-sharks.html
http://www.crisil.com/Ratings/Rating...rs_31aug09.htm

[sixsigma1978]

Originally Posted by anonamou

This project has been receding from it's promises...
- The 167 acres is now under 150.
- The targets of launch have just plainly been delayed over 9 months (no explanations given).
- The commercial projects are a non-starter, also they are unable to attract investors.
- Their funding partners (Axis bank: to whom the property is mortgaged) are not issuing NOCs.
- CRISIL has issue C rating. - http://www.crisil.com/Ratings/Rating...rs_31aug09.htm
- Very very un-friendly staff and unprofessional way of dealing. Delays on every single little transaction.
- And now, the KIADB land row (for commercial lands, SEZ notification, etc) and illegal land-grabbing by Ozone via highly influential people - http://www.deccanherald.com/content/...ay-sharks.html

Originally Posted by sweetysmiley

hey guys, never ever believe this ozone group. they are involved in a big land scam (in their urbana project) and not ready to pay back the money to its investors. their customer service is very very bad. the guy who is leading the bangalore group is very very bad and too rude. pls go through the below links before u plan an investment with ozone group, especially ozone urbana.
http://www.deccanherald.com/content/...ay-sharks.html
http://www.crisil.com/Ratings/Rating...rs_31aug09.htm

Posters with 1 post to their credit maligning a project in quick succession. I smell a rat!
If you think a project's up to no good - approach Consumer Court or file an FIR against them. Or bring up your posts count with some quality contributions so your rantings can be considered worthy!

[MeMumbaikar]

yeah

lol does smell like a rat

[anonamou]

Originally Posted by sweetysmiley

hey guys, never ever believe this ozone group. they are involved in a big land scam (in their urbana project) and not ready to pay back the money to its investors. their customer service is very very bad. the guy who is leading the bangalore group is very very bad and too rude. pls go through the below links before u plan an investment with ozone group, especially ozone urbana.
http://www.deccanherald.com/content/...ay-sharks.html
http://www.crisil.com/Ratings/Rating...rs_31aug09.htm

I have had my shares of ups and downs in this project.

@ Sweetsmiley - these are not true. They have not grabbed any Govt. land. On the contrary they have 'aggregated' land for Govt. Check the Gazzette details (now they are all available on websites of kar.nic). Land parcels of this size is bound to get into a bit of trouble (common in realty, if you notice from your previous investments / experiences). There have been many big projects of very big developers which got caught in uglier issues and are even today sitting on murkier land deals. But it's how the developer helps and works around them.
This project, has lower risks (as of today) and the rewards (upsides) are great. Hiranandani has launched an apartment 4 Kms further from this project at INR3300, so one needs to measure the upside clearly.

[anonamou]

Originally Posted by sixsigma1978

Posters with 1 post to their credit maligning a project in quick succession. I smell a rat!
If you think a project's up to no good - approach Consumer Court or file an FIR against them. Or bring up your posts count with some quality contributions so your rantings can be considered worthy!

@Sixsigma1978: Not true mate!
I tried to bring out the facts. I am happy to continue doing so...

BTW, the dead-rat has been removed, the place sanitized and 'Lilly-of-the-valley' room-freshener in the air!

BTW - This project has started to bustle... If u r not already in it... u have v less time to get in.

[sixsigma1978]

Originally Posted by anonamou

@Sixsigma1978: Not true mate!
I tried to bring out the facts. I am happy to continue doing so...

BTW, the dead-rat has been removed, the place sanitized and 'Lilly-of-the-valley' room-freshener in the air!

BTW - This project has started to bustle... If u r not already in it... u have v less time to get in.

I guess my post wasn't clear - I took yours as a context to point to sweetsmiley's double rantings post!! People would take him a little more seriously if he posted a few projects to his credit instead of ranting off in the very first. Everyone knows about risks associated with these projects! This isn't a forum for investment decisions...

Appreciate the feedback

[avinash2060]

Heard all the Support Infra (Roads ,Waterlines ,Power Lines etc) for Plots are Completed .when is the next phase of this project being Launched which is apartments. What happened to commercial aspect of this Project? those who own a plot here plz update on the project

[avinash2060]

[sixsigma1978]

Few more renderings of the project :

[sixsigma1978]

Proposed School

Proposed Hospital

[avinash2060]

Originally Posted by sixsigma1978

Proposed School

Proposed Hospital

Lovely renders finally Something is happening if not @ least they updated renders in website