TheMeadowDance (Residentialgatedcommunitywithearthshelteredvillas) (R id i l d i ih h h l d ill ) Hyderabad

AProjectReview&InvestmentAnalysis/Review(draftcopy) ByVRNETPvt.Ltd www.vrnetconsulting.com

Abouttheproject:TheMeadowDance
TheMeadowDanceisbeingdevelopedin2phases.Phase1willcompriseof villasandPhase2willhaveapartments.Thetotallandextentforbothphasesis 20acres. 20 Phase1comprises84spaciousvillaswithearthcoveredroofs.Theproject providesallbenefitsofanindependenthometogetherwiththesafetyand conveniencesofurbancommunityliving.Thehomesarefullyfurnishedand i f b i li i Th h f ll f i h d d comewithcustomizationoptionswhichallowcustomerstocreatehomesto suittheirlifestyle. Amenitiesincludeswimmingpoolandclubhousewithtopofthelinefacilities. A iti i l d i i l d l bh ith t f th li f iliti Whilethebuiltareaofeachhomeis4450sqft,thesizesofplotsvary.

Credentialsofthebuilder
Name of the Developer Total Environment Building Systems Private Limited

Name and address of the company 78, Imagine, EPIP Zone, ITPL Road, Whitefield, Bangalore developing the project 560066 Name of the developer group Track record in years Projects d P j t developed till d t l d date Ongoing projects of the developer Total Environment Building Systems Private Limited 14 years 18 projects till d t - 17 i B j t date in Bangalore and 1 i P l d in Pune Windmills of Your Mind Whitefield, Bangalore The Magic Faraway Tree Kanakapura Road, Bangalore Van Goghs Garden Kasturba Road Cross, Bangalore The Meadow Dance Rajendranagar, Hyderabad

Abouttheproject TheMeadowDance
Total no of units Total Saleable area in million square feet q Start date of the project 84 villas 0.373 million sq ft

Feb 2011

Possession committed to customer 3 years from the day of start as per sale agreement Architect for this project Inhousearchitecturaldesignteam Shibanee andKamal Architects

Thecompanyafterhandingovertheprojectplanstoprovidehandholdingservices andmaintenancetocustomersfor10years

CurrentStatusoftheproject
Project:TheMeadowDance,Hyderabad Project : The Meadow Dance Hyderabad Architects:Shibanee andKamal Builder:TotalEnvirnoment andbuilderspvt.Ltd Projectstatus Builderwithexperience The builder has a good reputation and proven expertise in constructing high rise villas and apartments in Bangalore ThebuilderhasagoodreputationandprovenexpertiseinconstructinghighrisevillasandapartmentsinBangalore andPune ConstructionoftheprojectisexpectedtocommenceduringApril2011 ProjectimplementationisproceedingwellasperschedulewithroadconnectivitytotheprojectgettingreadybyFeb 2011.HandoveroftheprojecttobeingbythebeginningofApril2013 Quality Customersareassuredofhighqualityofmaterialsandworkmanshipbythebuilderinthisproject.

Completion Stage

Constructionto Commencein Feb2011

Construction Stage Brick work

Construction Stage Structure work

TheMeadowDance:ProjectPositioning
Hiend Luxury Housing AboveRs1crore

Project positioning: Targetedtowards thepremium segmentofthe segment of the market

Luxury housing

BetweenRs80100lakhs

PremiumLifestylehousing

BetweenRs60 80lakhs

Premiumhousing

BetweenRs35 60lakhs

ValueHousing

BetweenRs10 35lakhs

Affordablehousing Affordable housing

BetweenRs5 10lakhs Between Rs 5 10 lakhs

LowCostHousing

BelowRs5lakhs

TheMeadowDance:ProjectPositioning
Hiendcustom Builtvillas/ themevillas inaGated Communityorbranded Homeswithglobalhotels

Rs 3 crore & above

Project positioning: Targeted towardsthe premium segmentof themarket the market

Between Rs 2 3 crore Premium Luxury Villas in CBD/SBD Independent houses/ Villas in CBD Luxury Apartments in gated community with More than 5000 sq.ft. in CBD and SBD.

Premium Theme Villas in CBD/SBD/PBD Independent housing/Villas in CBD/SBD

Apartments in gated community with about 5000 sq.ft. in CBD and SBD.

Between Rs 1 2 crore

Between Rs 80 1 crore Villas/Villaments in CBD Villas in SBD/PBD/Independent housing in CBD/SBD Apartments in gated community with about 2000 sq.ft. in CBD and SBD.

LuxuryVillaDevelopersMap HyderabadRealEstateMarket
Local,regional,nationalandinternationalcompaniesarebuildingluxuryvillasintheHyderabad.Thecostofvillasrangefrom Rs40Lakhs toRs12crore depending onsizeofplots,livableareaanddetailing/specificationsoftheproject.
Projectstatus

Planning& Approvals

Projectlaunch Project launch

Foundation stage t

Brickwork stage t
ConstructionPhase

Finishing Stage St

Completion& handover h d
Handover Phase

Pre ConstructionPhase

Rs3.2crore andabove and above

TheMeadowDance Rajendranagar TotalEnvironment Royalwoods Kismatpur Prestige

CasaEstebana Kompally KonceptAmbience

Rs2crore to Rs3.2crore

DivyasreeOrion Nanakramguda Divyasreebuilders

RamkyPearl Kukatpally RamkyEstates

BanyanTreeResorts Maheshwaram MakProjects LegendChimes Kokapet LegendGroup BollineniHomes Madhapur BSCPL VillaIsle Shamirpet RajenRahejaGroup

AshokaAlamaison Kompally AshokaBuilders

Rs1.0crore toRs2.crore

Hillpark Chandanagar Aparna Constructions

SarkOne Mokali SarkGroup

AparnaPalmMeadows Kompally SpendidAparna RamkyPearl Kukatpally RamkyEstates

Rs60lakhs to Rs1.0crore
Greenwoods Dundigal Modibuilders SterlingHomes Kompally Modibuilders

InduAranya Indu Aranya Nagole InduGroup

PrakruthiNivas Dundigal VishalGroup

BelowRs60 lakhs l kh

Location TheMeadowDance

LocationAnalysis TheMeadowDance
Locationoftheproject:SurveyNo279,BesideGreenWalkways,Himayat Sagar Road,Budvel, Rajendranagar,Rangareddy Dist.Hyderabad500030

Locationconnectivity
GoodconnectivityandclosetoHimayatsagar lake Sereneenvironmentawayfromthehustleandbustleofthecity. LocationoftheprojectisoffthemainroadconnectingtheExpresswayandtheairport. LocationisclosetotheupcomingSEZsinGachibowliandfinancialdistrict. This project is located at Rajendranagar which is approx 5 2 km from APPA Junction | 3 6 ThisprojectislocatedatRajendranagar whichisapprox5.2kmfromAPPAJunction|3.6 kmfromtheHimayat Sagar Dam|12kms fromtheRIALandapprox30minutesfromABIDS (CBD) Approx10kmtoNH7 Hyderabad Bangaloreroad Approx16kms toGachibowli andApprox10kms toMehdipatnam andatboththeseplaces k hb l d k hd d b h h l youwouldfindtheabovementionedzones AdjacenttoORR closetoAPPAJunction(5km) ClosetoHimayat Sagar Lake 3.2km

Analysisoftheproject
Project construction quality and amenities Total Environment undertakes all construction activities inhouse so as to maintain and deliver quality. With the project The Meadow Dance Dance it is bringing a unique concept of earth sheltered homes to the city of Hyderabad Hyderabad. This concept has rarely being used before in large group housing projects. In this system of designing each home is set partially into the ground and the roof of each home is curved and has an earth cover which is landscaped. Benefits of a earth sheltered home vary from natural sound proofing, reduced rain water runoff, reduced temperature variations, lesser maintenance requirements and a harmonious blend with natural surroundings. The company has been delivering good quality projects in Bangalore and Pune to its customers. The quality levels achieved by the developer are appreciable and the quality risk profile of the developer is relatively low. Design and Amenities The project provides opportunity to extensive customize the villa by the customer. The project has provisions for amenities such as home security systems, private terrace garden i each villa, swimming pool, gym, club h t d in h ill i i l l b house with t of th li f iliti ith top f the line facilities, power back for common areas and for the villa. The project design is unique and ensures privacy for villa owners.

Analysisoftheproject
Location The project is located close to Himayat Sagar Lake near Rajendranagar in Hyderbad. It is well connected to Gachibowli and is close to the financial district and SEZs in Hitech city. Further it is about 10km from the international airport. The location of the project is in the suburbs of the city, which is a serene gated environment. However it will entail travel to the work place of a minimum of about 1012 kms oneway. Also development of area is still on and facilities such as schools, hospitals, banks, shopping are far off. Hence, the location risk for the project is relatively moderate to high. Project legal quality and land approvals The land titles of the project are clear and all pre construction approvals for the project including the planning permits have been obtained. The projects legal risk profile is relatively low. P j t fi Project financial quality Th project i a j i t d l i l lit The j t is joint development with l d owners and th t ith land d the developer has completed the approach road to the project from the Rajendranagar main road. The project will have high salability in the short to medium term, which means that it will be funded by internal accruals and cash flows from customer advances and debt funds y from banks. Hence, the financial risk for the project is relatively moderate.

Analysisoftheproject
Pricing of the project The company charges Approx 3.32 Cr for a unit of Villa with land of 509 sq yards (4580 sq ft) and 4450 sq ft built space. The company is contemplating to build the prototype in the next few months. It is expected that once the prototype is done, the sales progress will pick pace. In terms of pricing, for a premium project in this locality the pricing is a bit stiff and on a higher side. As the company has a strong brand loyalty and satisfied customers in the Bangalore market and as all the villas are totally customized, and the supply is below hundred villas the company might not be troubled in selling the villas at a villas, premium to the market. Timelines for the project: The project is currently at the inception stage. The approach road for the project is underway. It would take a minimum of three years for the project to the delivered to the end customers. The timely completeness risk f the project is relatively d l d h d h l l k for h l l moderate. Project sponsor quality The developer has a sound track record in delivering high end villas and apartments in Bangalore and Pune. While this is the first project in Hyderabad, the p g p j y , project is expected to cater to the needs of successful business man, top notch professionals, high net worth individuals in the city and also NRIs. The financial risk profile of the developer is relatively low.

Lowerlevel(Groundfloor)Plan Builtarea 4450sf.ft

Upperlevel(Firstfloor)Plan

View ExternalView

View ExternalView

View MasterBedroom

View MasterBathroom

View Kitchen

Finalword
As per our analysis this project is targeted towards individuals who value design and desire to live in a serene and environmentally friendly neighborhood. As the project is highly i hi hl customizable, the project will meet i di id l taste and requirement. i bl h j ill individuals d i Overall risk of the project is moderate to low and individuals can expect a good to significant appreciation for their investment in the medium to long term.

Disclaimer
The statements, information, opinions and views expressed in this research reflect the personal views of the author(s) about the project and the company. Although every effort has been made to ensure that the information included in the report is correct and upto date, they should not be taken to represent, nor are they intended to represent any p p , y p , y p y investment advice into the property. While due care has been taken to include relevant data we may have missed out on others due to lack of market data. Our research professionals provide important input into our investment banking and other business selection processes. processes Investors should assume that VRNET Pvt Ltd and/or its affiliates are seeking or will seek investment Pvt. banking/consulting business or other business from the company or companies that are the subject of this material and that the research professionals who were involved in preparing this material may participate in the solicitation of such business. Past performance is not a guide for future performance, future returns are not guaranteed and a loss of original capital may occur. The Project Review & Investment Analysis/Review of the project is not an independent piece of research and the management of the company has paid professional fees for undertaking this research. VRNET Pvt. Ltd does not provide tax advise to its clients, and all investors are strongly advised to consult with their tax/investment advisers regarding any potential investment investment. Before making an investment decision of buying/leasing a property, on the basis of this research, the reader needs to consult his financial adviser. The authors of the report dont accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this research report.