MUMBAI PRIDE Feasibility report

MUKTISTAR CONSTRUCTIONS PVT. LTD.

Feasibility Report

Proposed Re-Development of
PRABODHANKAR THACKREY NAGAR,

SECTOR 1 TO 7, Charkop,
Kandivali (West), Mumbai - 400 067, Maharashtra, INDIA.

I have had the privilege of leading MUKTISTAR
Constructions PVT. Ltd., Pro-active MUMBAI PRIDE
project as a forward looking strategic initiative, such
as the Smart City & the Global Investors aimed at
boosting Economic & Growth.

MUKTISTAR through its high level knowledge
platforms and representations; has played a pivotal
role in driving policy advocacy and thought
leadership towards actualizing key Government
Policy such as Smart City amongst others.

I am confident that my management team and
international offices, will continue to partner/ JV with
the MUKTISTAR & company to active inclusive Growth
& Position in INDIA and Globally Preferred investment
destination.
This is already happening.

Founder & Chairman

Mr. Jitendra Gaikwad

A FEASIBILITY STUDY OF OPENING AND CONSTRUCTION OF SMART CITY IN INDIA.

THESIS

A thesis submitted in partial fulfillment of the requirements for the company in-house purposes. The
degree of Master of Business from the College of Dupage / Chicago USA
By

Nasir Shaikh

A feasibility study of market expansion for company Muktistar Constructions Pvt. Ltd.

This thesis was undertaken for company Muktistar Constructions Pvt. Ltd. which prefers anonymity due to its business field.The case company is of small size to big
size and operates in the Smart City Constructions Projects in India. The goal of this thesis is to contribute to the company s understanding of international markets
In general, and, specifically to analyze the feasibility of a market expansion into India.
The main theoretical concepts covered in this thesis relate to internationalization, market and country analysis, and the corporate decision making process. The
market entry strategy is based on requirements rather than classical models. Country analysis is based on the four dimensions model defined by Founder and
Chairman Mr. Jitendra Gaikwad.
Unpublished theses submitted for the use of its own company in-house and deposited in the Company Muktistar Constructions Pvt. Ltd. Of Charkop / Mumbai, are
as a rule open for inspection, but are to be used only with due regard to the rights of the authors. Bibliographical references may be noted, but quotations or
summaries of parts may be published only with the permission of the author, and with the usual scholarly acknowledgments.
Extensive copying or publication of the thesis in whole or in part also requires the consent of Nasir Shaikh /Thailand.

DISCLAIMER

Certain statements in this communication may Be forward looking statements within the meaning of applicable laws and regulations. These forward-looking
statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking
statements. Important developments that could affect the Company s operations include changes in the industry structure, significant changes in political and
economic environment in India and overseas ,tax laws, import duties, litigation and labor relations. MUKTISTAR CONSTRUCTIONS PVT. LTD(MCPL) will not be in any way
responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent
events or circumstances.

This feasibility report has been designed with inspiration of fruits. Diversity of enchanting colours, and
explicit design illustrates activities in various forms and freshness within. Each section has its unique
adaption, creating its identity and values. This inspiration is what demonstrates our ideology in
methods of working, what MuktiStar believes in, truthfulness.

Summary 01

Program 08
Site Building

Economic Initiatives from 39
Government of India

Why 63
MuktiStar

3 True Reasons why MuktiStar

Should do Joint Venture 87

Revenue 99
Model

1

Summary

Engineering for a sustainable future begins with examining how we live..

The theme for this section is adapted from Papaya fruit, the core flourishes 2
with sunrise colour illustrating the warmth of the beginning, where in it’s seeds
depict fragments of the content, of this report.

© MUKTISTAR - MUMBAI PRIDE - FEASIBILITY REPORT

3

© MUKTISTAR - MUMBAI PRIDE - FEASIBILITY REPORT 4

Executive Summary

 The Feasibility Report develops
alternatives that support the Program’s
objectives, under the leadership of
Chairman Mr. Jitendra Gaikwad,
converting Charkop City into Smart City
“Mumbai Pride” under the brand name
of MUKTISTAR.

 MUKTISTAR have adopted a Purpose and Need Statement that includes primary and secondary
program objectives.

 Management to conduct a Feasibility Study to assess Proposed Redevelopment MHADA Project,
ability to raise US $ 4.95 Billion for the building of a Mumbai Pride. The Study was designed to gauge
a variety of subjects that impact the feasibility of conducting a major capital campaign/gain.

 The Prime Piece of land under consideration belongs to MHADA (Maharashtra Housing and Area
Development Authority) and it admeasures around 139 hectares & accommodates 7 numbers of
sectors. Each of the sectors is flanked 15,514 HIG, LIG and MIG units constitute 75% of the total
land.

 The Township project Re-development includes new construction to create the Residential &
Commercial income producing property and position it in the local market as a Re-development
program.

 The Financial Feasibility analysis covers an assumed 7 year forecast period. The findings indicate the
proposed Re-development Project is likely to generate estimated US $8.71 billion in surplus

5

working capital over the forecast period, while requiring estimated US $ 40 million in total at risk
capital contributions to sustain development that represent an average cash on cash return of
estimated 14.30% per annum for the assumed 7 year holding period.

 A Feasibility analysis pertaining to the pre construction phase, construction phase and
post construction phase operating and non operating cash flows and funding requirements
supporting the Re-development, construction, marketing and operations for a smart city – Mumbai
Pride.

 The expressed purpose of the Executive Summary is to provide the Board of Directors, and others,
Feasibility Study participants, and other appropriate individuals with a quick synopsis of the Study.

 The Executive Summary Report is not designed to take the place of the final full Report, which has
been provided to the Department. This reveals a position of strength from which to begin
developing a capital campaign marketing program.

 The proposed Township project MUMBAI PRIDE (A Smart City) is already transforming with active Re-
development.

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we initiated with idea
building, which developed

more ideas..

7

The
Most Desirable
Housing Layout

 All of these research components and sustainable strategies will contribute towards
making this Towers the most attractive residence Mumbai Pride. Residential will be taken
to a new level with high rise towers this will effect on local residents about the local and
global impacts of their lifestyles on a daily basis. The architectural design of the tower will
be guided by respect, for the residential quality of neighboring hoods. The highest levels of
indoor environmental quality and solar power will foster health and happiness amongst
residents.

 A design balancing privacy and community

 Easy access to all towers and other areas.

 Building stylish and elegant looks encourage sustainable lifestyles to all residents of their
choices.

 Designed to the highest standards of all amenities, comfort, lighting and acoustic quality.

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9

Program

Site Building

 An interactive “information center” where residents and visitors can easy access
about building design.

 A 9th floor onwards residents starts, supporting experimental green roof, solar
panels, and outdoor social space.

 A building oriented towards the sun on a site with unobstructed solar access.

The theme for this section is inspired from the fruit Kiwi , the outer skin spawns the feel of the ground, which this
chapter talks about, site building. beautifully crafted, the core highly illustrates the magnitude of the making
process, spreading out defining what we call the reach.

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PRABODHANKAR THACKREY NAGAR,SECTOR 1 TO 7, Charkop, Kandivali (west), Mumbai-67,Maharashtra,INDIA.

11

Project Area 12
Characteristics

The Prabodhankar Thackrey Nagar Sector 1 to 7”
Charkop, Kandivali (west), Mumbai-400067(INDIA)

 Land is located in an established micro-market of
Mumbai surrounded by a well developed Industrial,
Commercial & residential catchment.

 The site enjoys a wide frontage on Link Road.

 Being extremely close to the railway station there is a
significant demand driver for residential and
commercial sales.

 The Location of land is well connected to the main town
by S.V. road, Western Express Highway, New Link Road and
Local trains. It will soon be connected by metro and sea
transport & Coastal Free expressway.

 New Milestones is laid on dated 12th Oct 2015. by
our Honorable Prime Minister Narendra Modi for 2 New
Metro Lines to run across the city.

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EXISTING MHADA MASTER LAYOUT

TOTAL AREA 13,97,068.85 SQ. MTR

EXISTING MHADA NON MARKETABLE OPEN SPACE LIG & MIG HOUSES
OPEN SPACE PLOTS IN CLUSTER
OPEN SPACE PLOTS

WATER TRAINING CHANNEL

PATHWAYS

SCHEME ROADS

D.P.ROADS
SOCIAL FACILITIES

MHADA COMMERCIAL PLOTS

DESCRIPTION PLOT AREA IN SQ. MT PERCENT

LIG & MIG HOUSES 451507.00 32.39 %

HIG APARTMENT PLOTS 348632.02 25.13 %

COMMERCIAL PLOTS 14770.65 1.06 %

SOCIAL FACILITIES 120681.33 8.4 %

D.P. ROADS 94786.84 5.78 %

SCHEME ROADS 121502.05 8.7 %

PATHWAYS 93127.06 6.68 %

WATER TRAINING CHANNEL 15048.07 1.88 %

OPEN SPACE PLOTS 59982.66 4.25 %

OPEN SPACE PLOTS IN CLUSTER 72111.37 5.18 %

EXISTING MHADA NON MARKETABLE OPEN SPACE 4919.80 0.35 %

TOTAL 1397068.85 100%

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PLANNING OVERVIEW

 The Re-development of this MHADA (Maharashtra Housing and Area Development Authority)
Residential land into Commercial income producing Smart City is subject to a number of
considerations and potential outcomes.

 Existing the entire node has open space equivalent to 4.25% of the total layout area.

 Proposed area for Re-development of Open space area equivalent to 20.18% of the total layout area.

 The overall existing commercial area is 1.06% of the total layout area. The proposed plan would
enhance the commercial area to 11% of the total layout area. (The commercial area described here
would be in form of Central Business District, Hotels, Malls, MUMBAI EYE etc). The area would also
accommodate world class Amusement Park admeasuring 28000 Sq. Mt

 Existing Layout under consideration comprises most of the houses built on ground and ground + 1
structure constituting 57.5% of land coverage and inadequate open space thus hampering light and
ventilation and environment. The proposed layout reduces the structure land cover to 38%. This would
compliment light and ventilation to structure.

 
 The overall solar power generated by installation of solar panels within the development of Charkop

would amount of 27 MW per year.

 Employment for 3500 people.

 Free Insurance policy for resident. (Currently MuktiStar is paying Insurance Policy Premium free of
cost for tenants who gave us consents)

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PROPOSED RE-DEVELOPMENT ON MHADA MASTER LAYOUT

TOTAL AREA 13,97,068.85 SQ. MTR

STAR HOTELS PROPOSED AFFORDABLE HOUSES
MUMBAI EYE (SALE PLOT AREA)
PROPOSEDCBD PROPOSED LIG & MIG
18 METER SPCRHOEPOMSEERDOADSMARKET PLACE HOUSES
SHOPPING MALL EXISTING MHADA
COMMUNITY HALL HIG APARTMENT PLOTS
DRAMA THEATER
FIRE STATION EXISTING
DISASTER MGMT MHADA
100 BED HOSPITAL COMMERCIAL PLOTS
NEIGHBOURHOOD MGMT.
TEMPLE

PROPOSED EXOIPSTEINNSGPMACHEAPDLAOTS
AFFORDABLE HOUSES
FOR MHADA MHADA SOCIAL FACILITIES
MHADA D.P. ROADS
EXISTING MHADA
NON MARKETABLE
OPEN SPACE

EXISTING
WATER TRAINING CHANNEL

DESCRIPTION PLOT AREA IN SQ. MT PERCENT

PROPOSED LIG & MIG HOUSES 200983.00 14.38%

EXISTING MHADA HIG APARTMENT PLOTS 348632.02 25.13%

EXISTING MHADA COMMERCIAL PLOTS 14770.65 1.06%

EXISTING MHADA SOCIAL FACILITIES 120681.33 8.40%

EXISTING MHADA D.P.ROADS 94786.84 5.78%

PROPOSED 18 METER SCHEME ROADS 220836.05 15.80%

EXISTING WATER TRAINING CHANNEL 15048.07 1.88%

EXISTING MHADA OPEN SPACE PLOTS 59982.66 4.25%

EXISTING MHADA NON MARKETABLE OPEN SPACE 4919.80 0.35%

PROPOSED AFFORDABLE HOUSES FOR MHADA 60864.00 4.35%

PROPOSED TEMPLE 5700.00 0.50%

PROPOSED NEIGHBOURHOOD MANAGEMENT 2150.00 0.19%

PROPOSED 100 BED HOSPITAL 8468.00 0.69%

PROPOSED DISASTER MANAGEMENT 5520.00 0.39%

PROPOSED FIRE STATION 5500.00 0.39%

PROPOSED DRAMA THEATER 2160.00 0.20%

PROPOSED COMMUNITY HALL 8424.00 0.65%

PROPOSED SHOPPING MALL 4455.00 0.31%

PROPOSED MARKET PLACE 16213.00 1.18%

PROPOSED CBD 30314.00 2.19%

PROPOSED MUMBAI EYE 14631.00 1.04%

PROPOSED STAR HOTELS 21297.00 1.52%

PROPOSED AFFORDABLE HOUSES(SALE PLOT AREA) 130732.43 9.37%

TOTAL 1397068.85 100%

15 OVERALL OPEN SPACE GENERATION ON REDEVELOPED CLUSTERS 281928.49 20.18%

Building Systems Design Concept

 The building systems installed in the Master Plan Layout make achieving the zero carbon goal possible.
These systems move, recover, and generate energy and connect utility and local building sources with the
demands of the users and building. The design & architect team has spent much of the feasibility phase of
work brainstorming, researching, and evaluating system concepts and strategies that are currently
available in order to evaluate if the goal of a zero carbon building is reasonable and achievable.

 The feasibility-phase design & architect work suggests that a zero carbon building is an achievable goal,
and it is especially so given that integrated design and proactive users. The system design that best
balances the multiple program elements and achieves project goals.

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ZERO CARBON BUILDING
VIEW
Through effective design of
the building envelope, selection of
water and lighting fixtures, and smart
use by residents, energy consumption should
be 70% below the current best-performing in
our smart city program. Heat delivery and on-site
energy production will engage a combination of
traditional (ex. radiant heating), systems to solar
power comfort and power efficiently. A Zero
Carbon building - one that produces enough
energy to offset its greenhouse impact - is
achievable through an integration of simple,

cost-effective energy saving strategies
and innovative energy generation
technologies.

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Objectives

 A 47-unit Towers just steps away from Kandivali Link Road.
 The 3 level Podium + 45 Storey building systems serves for existing 15,514 Residents.
 The 3 level Podium + 20 Storey building systems serves for upcoming 20,000 Residents

from MHADA Authority.
 A building oriented towards the sun on a site with unobstructed solar access.
 An interactive “information center” where residents and visitors can learn about building

systems and access and real-time performance.
 A 5th floor onwards starts the residential floor, and experimental green roof, solar panels,

and outdoor social space.

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EXISTING MHADA TENANTS 25

SQ.M Suggested
Residential Tower
42 Details for Tenants

SQ.M 72

MUMBAI PRIDE - 2 BHK SQ.M

25 Sq. Meter Tenants = 8721 Nos. 30

EXISTING MHADA TENANTS SQ.M

45

SQ.M

MUMBAI PRIDE - 2 BHK

30 Sq. Meter Tenants = 3974 Nos. 40

EXISTING MHADA TENANTS SQ.M

MUMBAI PRIDE - 3 BHK

40 Sq. Meter Tenants = 2809 Nos. Option 1 40

EXISTING MHADA TENANTS SQ.M

Chart Showing MUMBAI PRIDE - 3 BHK 60
proposed area for existing
25,30,40 Sq. meter Families SQ.M

MUMBAI PRIDE (SHOPS) +

12

SQ.M

40 Sq. Meter Tenants = 2809 Nos. Option 2

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Program Summary

 The project has 6 clusters with 47 towers, 45 floors each in a total of 747780 gross square meter.

 There are 3 primary program components:
1) 2 BHK
2) 3 BHK
3) 3 BHK + Shop

 The initial program is developed by Muktistar in conjunction with the department of MHADA and
Maharashtra State Government

 Further refinements to this program were made during the Feasibility Study.

Residential Tower Details Breakdown of Flats

Number of Clusters 6 Type of Flats Number Area/ Flat

Number of Towers 47 2 BHK 8731 42 SQMT
45 2 BHK 3974 45 SQMT
Number ofFloors 15,514 3 BHK 2809 72 SQMT
(each Tower) 2 BHK & 3 BHK
3 BHK 2809 60 SQMT+ 12
Number of Flats (*with shops) SQMT Shop
Type of Flats

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Proposed
Residential
Master Layout

23

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Suggested Residential
Tower Options to MHADA

The 3 level podium + 20 storey building systems serves

for upcoming 20,000 Residents from MHADA authority

MHADA Residential Tower Details
(As per Approval of MHADA Floor Plan)

Number of Towers 20

Number of Floors 20

Number of Flats 20,000

25000 Number of flats
20,000
Number of flats
NUMBER OF TENANTS IN THOUSANDS 20000 Number of flats 18,421
15000 16,471
10000
Number of flats Number of flats
13,333 14,583

5000

0

525 SQFT 480 SQFT 425 SQFT 380 SQFT 350 SQFT

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Mumbai Pride Utilities

 Revamp the existing Infrastructure like roads, drainage system, Service
lines with fully sophisticated and service friendly infrastructure.

 Build 18 m wide internal road will accommodate walking, jogging and
cycling track around the complex.

 Provide Free and paid parking around the complex.
 Set up Juice, fruit, milk and newspaper kiosk along the Walking pathway.
 Provide health Kiosk along the walking pathway.
 Hazard free sitting areas.
 Construction of flyovers at major junction would contribute to signal free

road.
 Erection of “Escalator Over Bridge” to connect neighborhoods would

enhance the pedestrian to use the broad pathways.
 Hawker free zone.
 Each proposed building cluster will be well connected to 6 numbers of

Market complex placed at strategic locations.
 Each market complex will have separate section for Vegetable, Fish,

Poultry and grocery.
 Jain Temple in Sale area.
 Temple.
 Hockey and football stadium.
 Modern skating Rink.
 Student security tracking systems
 Vehicle security tracking system
 Free wifi
 Free transportation for senior citizens within smart city
 Plantation of 2097 trees
 Free bicycles for cycling track

27

Mumbai Pride Utilities 28

 Provision of MODERN CARE FASCILITIY centrally in the neighborhood.
 Provision of Air ambulances and road ambulances.
 Provision of Fully sophisticated Fire Station.
 Provision of Fully Integrated Neighborhood management system.
 Hi-end Security and surveillance system at podium and neighborhood

level.
 Provision of Disaster (Rescue) Management cell to curb both Natural and

manmade Calamities.
 The entire Cluster of buildings for PAP would have 3 level podium car

parks.
 The ground level will comprise of access lobbies to each building in the

cluster.
 The basement level would only comprise of Rain water Harvesting tank

and bottling Plant.
 Hi – end security and surveillance system within building.
 Video door bell for all flats.
 X- Ray Bag screening equipments.
 Metal detectors.
 The top podium level would house the following areas:
 Dada Dadi park, Nana Nani Park, Youth Park,
 Toddlers play area., Swimming pool, Tennis court,Badminton court, Box

Cricket net.
 We value Nature, thus pledge to replant all existing Trees around

Charkop with in landscaped areas.
 Provision of employment for above 3500 residents (PAP)of the

neighborhood
 Provision of Revenue model to the neighborhood to have a sustainable

development.

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MuktiStar
R&D

 Simulation platform for Smart City based technologies and solutions aims at Defining and creating
a common functional environment for land use and construction databases

 Establishing information model as a way of conduct in land use planning (e.g. building inspection,
planning, interaction with concerned parties)

 improving exchange of information between different sectors of planning and thus accelerating
processes concerning land use developing an open environment for business concepts serving land
use and construction.

 MuktiStar is strongly based on pilot projects, which represent different levels of planning starting
from regional dimensions through city plans down to construction of individual buildings, as well
as interaction and data exchange between these levels.

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Project Feasibility &
Re-development Project Summary

 The project as proposed is technically and financially feasible, cost effective and will result in a benefit
to the proposed project to be assessed.

 The proposed project is also fulfill all the Rules and regulation is borne by our Government of India.
 Project is awarded by WCRC/Singapore and obtain Pattern Rights and Trade mark with MHADA.

© MUKTISTAR - MUMBAI PRIDE - FEASIBILITY REPORT 32

Mhada Correspondence Copies

First intent letter
from Govt. Authorities of India

33

Copyright & Patent Certifications

34

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Participation in
Exhibition

Reifbs

Real Estate Investment Forum & Business Spaces

29th Sept. to 2nd Oct. 2011
MMRDA Exhibition
Bandra Kurla Complex
Mumbai

© MUKTISTAR - MUMBAI PRIDE - FEASIBILITY REPORT 36

Project History

Planning Process Submissions

 Land Survey  Established 2 Corporate Offices.  Dec 27,2010, Proposal submitted to
MHADA & Govt. authorities
 Soil Testing  Hired Field Staff to convince tenants.
 Jan 24,2011 Proposed Project
 Water & Power requirement Survey  Distribution of informational Pamphlets, presentation made to Hon. Minister
Brochures & DVD’s (Vision & Action film), of Housing Shri Sachin Ahir, along
 Hired Sr. architects, Jr. architects & Umbrellas to Tenants. with MHADA engineers & Secretaries of
Draftsmen. Housing department
 Acquired promising 3500 numbers of
 Making of final architect drawings consents out of 15514.  June 14,2011 Received a letter of intent
from MHADA demanding relevant
 Preparation of 9`X15` architect  29th Sept. to 2nd Oct. 2011,- Presented drawings & 70% consents
models project at Reifbs Exhibition, BKC, m o r e
than 40,000 visitors including  July 5,2011 & July 12,2011 submission
 Discussed solar power generation foreign investors, top business of proposed layout presentation
process with MGIT Solar Company tycoons, Bureaucrats & Politicians w e r e drawings made to MHADA
of Japan Present.
 Submitting consents to MHADA on
regular intervals.

 April 12,2013 blue prints of proposed
layout drawings submitted to
concerned authorities through
MHADA

37 © MUKTISTAR - MUMBAI PRIDE - FEASIBILITY REPORT

Govt. of Maharashtra GR Copy DCR 33(5)

38

39

Economic
Sustainability
of
Government of India

The theme for this section is adpated from the fruit Watermelon, admiring its shell strenght from the
outside, which demonstrates a true sustainbility, where in a contrast of its tender and soft inside, resulting
to a fruitful outcome.

© MUKTISTAR - MUMBAI PRIDE - FEASIBILITY REPORT 40

we worked with the time
to integrate what is
possible

41

Overview

 The primary goal of this feasibility is to determine the project scope and estimated cost to
the full vision of a “Mumbai Pride” project. A secondary goal was to test the feasibility of
“Smart City “ model of sustainable Residential and commercial that would be comparable
in first cost to a project benchmark. The conclusion reached is that first cost neutral,
sustainable housing is viable but that the first cost of building a unique, integrated high
class facility as described in this Report is indeed higher.

 Life cycle cost analysis results indicate that a 30-year payback can be expected using
reasonable assumptions for the Living lifestyle model; meanwhile, the High end lifestyle
model pays back immediately and continues to save operating costs over its lifetime.

 The Feasibility Report as a whole demonstrates the Mumbai Pride’s potential contribution
to the Company, educate.

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GoVErn mEnt oF InDIA

InItIAtIVEs

43

Economic Initiatives from
Government of India:

The Government has always supported housing activities in the form of Free land, tax incentives
along with other such sops.

Extension of Tax benefits to mass housing projects

Reduction in the rate of interest from 13.50% to 8.75% per Annum.

Abundance of land made available in line with the same objective of propelling growth through
housing scheme.

Government eases FDI norms in Townships, shopping complexes & business centres – all
allow up to 100% FDI under the auto route.
Conditions on minimum capitalization & floor area restrictions have now been removed for the
construction development sector.

© MUKTISTAR - MUMBAI PRIDE - FEASIBILITY REPORT 44

Implementation
of REITS

Single Funds have
window been setup to
clearances boost urban & rural
Infrastructure

Infrastructure Government of India
to get a boost which Regulations
to
includes both
Real Estate Boost Real Estate
and Transportation
100% FDI
allowed in
Construction

Sector

Announcement
of 100

Smart Cities

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