BPTP, a leading real estate developer from NCR, has launched its second township — ‘Astaire Gardens’ in sector 70A, Gurgaon. The first phase of this integrated township, comprising plots, independent floors and villas, is spread across 102 acres amidst wide open spaces, offering comfort of living that provides space and security. Astaire Gardens is strategically located in close vicinity of Gurgaon’s Golf Course Extension Road/Southern Peripheral Road. Easily accessible from NH 8, it is linked to all commercial and business hubs of Gurgaon.
The integrated township offers freehold plots, ‘August’ villas of 347 to 545 sq yards and ‘Monet’ independent floors of 196, 250, 350 and 545 sq yards sizes, opening out to landscaped gardens, recreational areas and parks. This gated community boasts of facilities like world-class spa lounge, multi-cuisine restaurant & bar, ultra-modern health club, swimming pool, jogging tracks, amphitheatre besides power back-up and electronic surveillance. Other amenities like schools, healthcare facilities, daily needs and conventional retail are within walking distance.
Says Amit Raj Jain, senior vice president, marketing, BPTP, “Astaire Gardens is planned around a beautiful landscape spanning three parks with 45 per cent open and green area and clearly designed recreation areas and streetscaping. Our dwelling units are versatile in terms of design, size and quality to provide optimal space utilisation.” Adds Sandeep Bedi, director, Strategy Systems, BPTP, “We are not selling en bloc and we are not allowing transfers till 30 per cent payment is made to avoid speculative buying. On the contrary, we are incentivising people who genuinely want to buy and payment plans are aligned accordingly.”
BPTP is the first real estate player to launch two unique townships in Gurgaon in a very short span of time. Late last year, it came up with BPTP Austoria, a 200 acre fully integrated township in Sector 102, in close vicinity of proposed Dwarka Expressway, offering 3/4 bedroom independent floors and villas with best of amenities. BPTP claims to have 3.5 crore sq ft of sold or under development real estate worth Rs 7,000 crore. “During 2007-09, we have sold more apartments than DLF or Unitech,” says Bedi.
Having a land bank of over 1,800 acres, BPTP is currently focusing on NCR. It has a 10 acre project in Hyderabad which it plans to develop later. The company is also going slow on four IT SEZs in Noida, Greater Noida, Faridabad, Gurgaon and is even contemplating to convert these for residential purposes. “Currently our complete focus is on Gurgaon. We are not even getting into any residential development at this stage in Noida where we recently launched — Noida City, a 4.5 million sq ft mixed use development,” says Bedi.
BPTP, according to Bedi, is funding its Astaire Gardens township project through bookings and debt, while its much talked-about IPO has been hanging for the last one year. BPTP had announced a Rs 1,500 crore IPO last year and its proceeds were earmarked to clear a part of debt as well as funding land conversion. Bedi hopes that BPTP’s IPO may well be launched around May this year.