River Valley One Current Rating: Ahmedabad 4 Star (Reaffirmed in March 2016) Mohammadearlier Rating: Ahmedabad 4 Star (Assigned in January 2014)
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River Valley One Current Rating: Ahmedabad 4 Star (Reaffirmed in March 2016) mohammadEarlier Rating: Ahmedabad 4 Star (Assigned in January 2014) Project Profile Type of project Residential Location of project Near Ahmedabad airport, Shahibaug, Ahmedabad Type of development Bought out Start date of project (expected) April 2013 Possession committed to customer as April 2016 (Revised from December 2015) per allotment letter Total saleable area 1.1 million sq ft Percentage of physical completion as 85% on February 2016 Sponsor Profile Name of the project River Valley One Lilamani Infra Name & address of the company 203, Shaswat Complex, opposite HDFC House, Behind developing the project Landmark building, Mithakali Six Road, Navrangpura, Ahmedabad – 380009 Name of the developer group Lilamani Group Track record in years 9 Projects developed till date 2 (0.42 million sq ft) Ongoing projects 1 (1.1 million sq ft) Project Rating Drivers Project construction quality and amenities o Construction quality: The structural quality of the project is backed by the established track record of the architect (99 Studio), structural consultant (J+W Consultants) and Singapore based landscape architect (TLS Landscape). The developer has maintained a check list for most of the construction activities and has done testing of raw material. o Amenities: Amenities include a clubhouse with gymnasium, lawn tennis, basketball, skating ring, cricket pitch, yoga and meditation hall, coffee shop and snack bar, indoor games, swimming pool, jogging track, landscaped gardens, children’s play area, and power back-up in common areas and lifts for 24 hours through DG sets. o Location: The project is located at Shahibaug, Ahmedabad (Gujarat). The project site is surrounded by residential area and has Sabarmati River on one of its side. The project is located near schools and hospitals and has proximity to Gandhi Mandir, GIFT City, Metro Project and cantonment area. It is around 3 kilometres (km) from Ahmedabad airport and 5 km from Ahmedabad railway station. Project legal quality – The project has a clear and marketable land title, free from encumbrances, as certified by the legal consultant, H Desai & Company (solicitors). The sale agreement mentions super built-up area and time-linked payment schedule. However, delay compensation, terms of cancellation, and defect liability period are not mentioned in the agreement. Project financial quality – The project has a moderate financial quality, backed by moderate sales and bank line of credit. The project is funded mainly through customer advances and bank line of credit. Project sponsor quality – o Lilamani Group was started in 2007 by four promoters — Mr. Mahendra Vora and his three sons. Mr. Mahendra Vora has an experience of about 16 years in construction through different partnership firms. Before starting Lilamani Group, he had completed eight projects of around 1 million square feet (sq ft) in residential and commercial segments in Ahmedabad. o The promoters play an active role in the overall planning and execution of projects, along with managing other affairs of the company. The company focuses on residential and commercial projects in Ahmedabad Classification: EXTERNAL Project photographs (As on February 2016) Classification: EXTERNAL .