High Monthly Rental Income
Serviced Apartments @
Earn Rs.30,000 to 40,000 per month
by investing in Serviced Apartments in JEOLIKOT
– Nainital, North India’s Favourite Hill Station
On an investment of just Rs.35 lakhs and 50 lakhs
(all inclusive of registration, stamp duty, furniture & fitouts, taxes & deposits)
Construction Completed !
You can expect to start earning from Sep / Oct 2018
4x Greater Rental Income
than Normal Apartments
Exploding Demand for
Hotel Apartments in India
Managed by India’s Leading
Hotel Apartment Operator
Huge Tax Savings (80C & 24)
Upto Rs.3,50,000 p.a.
Home Loan Available
Pre-Approved by Top Banks
Zero Maintenance Asset
with 20 Year Lease
Enjoy FREE Stays Every Year
7 Free Days across India
Already Operating @
Bangalore, Cochin & Delhi-Neemrana
Outstanding Location & Views
Jeolikot / In a valley surrounded by forest
Start earning rental income from Sep / Oct 2018
Actual View from all Rooms @ Starlit Suites Jeolikot
Table of Contents
While we recommend you read the entire offer document in the order shown below,
you can jump directly to a particular section by clicking on the topic of interest :
- What is this Starlit Suites serviced hotel apartment concept?
- Why should you invest in Serviced Apartments?
- How does Starlit Suites generate such high monthly income?
- How much will you earn every month?
- What makes this income so predictable & stable?
- Can you sell off this apartment after sometime?
- Where is Jeolikot, Nainital located?
- Who is the Operator? (Operator Profiles)
- Financials – Unit Size, Cost, Payment Schedule & Loans
- Documentation involved & how to book your unit?
- Contact details of our team
Enjoy Stress-Free Rental Income!
Why go through all the stress & hassles of buying & renting out property on your own to ultimately earn just 2% to 3% per annum, when you can earn almost 4 times as much – i.e. 8% to 10% per annum – without any maintenance or involvement from your side by investing in these serviced apartments?
What is Starlit Suites / Serviced Hotel Apartment Concept?
Starlit Suites is a leading 3 star serviced hotel apartment operator of India and by investing in their hotel apartments in Jeolikot and other major cities, you can earn highest monthly income of Rs.25,000 to 40,000 per month on lowest investment of just Rs.35 lakhs (Studio) & Rs.50 lakhs (1 BHK) respectively.
HOW DOES THIS WORK?
- You invest in a fully furnished, fully air-conditioned and fully serviced hotel apartment (Studio / 1 BHK) that is built to the standards of a 3 star hotel / resort.
- The unit is owned completely by you (registered in your name just like any other apartment) but is operated and managed by Starlit Suites Group and marketed to the leading Indian corporates and MNCs (incase of metro cities) and tourists & vacationers / pilgrims (incase of tourist or spiritual destinations like Jeolikot, Shirdi & Tirupati) as a 3 star extended stay serviced hotel apartment and as a destination for corporate getaways, meetings, training and incentive programs, etc.
- The operator already has rate contracts and formal tie-ups with over 200 leading companies in India – including many Fortune 500 firms such as Cisco, Dell, HP, TCS, Wipro, Infosys, etc – whos’ employees stay in these hotel apartments when they travel on work, thus giving the operator assured business / occupancy throughout the year.
- Incase of tourist and spiritual destinations like Jeolikot, Shirdi and Tirupati, the operator has tie-ups with leading travel agencies, online portals (like Makemytrip.com / cleartrip.com / booking.com etc) and event management companies to capture casual tourists / vacationers / pilgrims as well – in addition to companies for conferences and offsite meetings.
- The total gross revenue generated by all the units in the entire hotel apartment resort is then shared in a 50:50 ratio between you (the investor/owner) and Starlit Suites (the operator).
- This means you earn rental ROI of 8% to 10% in the beginning – which is 4 times greater than rental income from normal apartments or villas – and the income grows to as much as 20% per annum over time.
- The operator Starlit Suites is a leading player in his category and is currently managing hotel apartments at Bangalore, Cochin, Pune & Delhi-Neemrana, with towers under construction at 6 more cities of India. You can view their complete profile in the “Annexure” section at the end of this page.
Continue reading to know more and also see the “ANNEXURE” section at the end of this offer document for exhaustive information on income projections, payment schedule, location map, floor plans and much more.
Jeolikot, near Nainital
North India’s Favourite Hill Station
. Less Crowded and More Serene than Nainital
with Views of Snow Capped Mountains
Starlit Suites Jeolikot is located 16 kms before Nainital, situated equidistant from Bhimtal and Nainital. Being in a forest zone which has hardly been touched, it offers the perfect secluded ambience with panoramic views of the mountains around and snow capped peaks during winter.
Largest Resort in the Area (60+ rooms)
Preferred for Corporate Events
Preferred over Nainital / Bhimtal
Less Crowded and More Serene & Peaceful
Pantnagar Airport / Kathgodam Railway
90 Minutes / 30 Minutes
Largest Corporate Tourism Target Audience @ Pantnagar
Industrial Estate spanning 3340 acres with almost 400 companies
Why should you invest
in Starlit Suites?
4 Times Greater Rental Income than that of Normal Apartments
Purchasing a regular apartment and then renting it out will only give you 2% to 4% returns per annum. In comparison, serviced apartments give you 10% to 20% ROI per annum.
No Maintenance Charges + Stress-Free Management
These hotel apartments are managed & maintained completely by the operator at his cost – thus freeing you of the hassles involved in renting out property on your own.
Tried & Tested Model + Exploding Demand for Hotel Apartments
Over 380 investors round the world are already reaping benefits of this investment as Starlit Suites – with their rich experience of 37 years in hotel industry – has perfected this model over the last 6 years and is successfully operating 4 hotel apartments at Bangalore, Delhi-Neemrana, Pune & Kochi.
Highly Affordable Price & Relaxed Payment Schedules
Units start as low as Rs.35 lakhs, making this very affordable. You also get loans from HDFC for upto 60% of unit cost, which means you pay just 40% or Rs.14 lakhs from your pocket and rest is funded by bank.
Timely & Automated Payment of Monthly Income to Your Bank Account
Each month’s income is credited directly to your bank account through ECS on the 25th of the following month, making collection of rent a stress-free and automated experience. You don’t have to worry about timely payments or collection and encashments of cheques etc.
Seven Days Free Stay @ Starlit Suites
– You get 7 days free stay for 1 unit owned by you per year with complimentary breakfast.
– Out of this, 4 days can be at any location where Starlit is operating and balance 3 days can be availed at the location where you have invested (in this case, Jeolikot).
– You can accumulate the same for 2 years and also can gift free stays to family, friends and colleagues.
Asset Pays for Itself & Becomes Free in 8 Years
Unlike a normal apartment where EMI is 2 to 3 times greater than rental income, incase of serviced apartments, income is always greater than EMI and hence the project pays for itself and due to such excess income, you will recover your entire initial investment (i.e.40% of unit cost) within 8 to 9 years.
Chance to Acquire Property in a Serene Location
Apart from monthly income, you are also going to earn capital gains as you are acquiring an asset in a prime and serene location. Normally, it would not be easy to acquire an organised product at such low ticket sizes and because of this, you will also enjoy capital gains in addition to high monthly income.
View of Central Courtyard @ Starlit Suites Jeolikot
How does Starlit Suites serviced apartment generate such high monthly rental income?
- A custom designed serviced hotel apartment resort is constructed by a boutique builder, with all the facilities of a 3 star resort such as banquet hall, gym, pool, bar & restaurant, meeting rooms, etc.
The resort consists of a mix of Studio, 1 BHK and 2 BHK units (depending on demand in each market which varies from city to city) which are fully furnished to support extended stays with facilities like microwave, cooktop, fridge, etc..
- Individual investors like you would buy 1 or multiple units which will be owned completely by you & registered in your name.
- The price quoted is ALL INCLUSIVE – that is, basic cost of the unit plus cost of furniture, fitouts, taxes, deposits, registration and stamp duty.
- You pay the total unit cost in instalments linked to progress of finishing – in this case, operations are slated to begin in June 2018 and you pay in instalments till June. For those investing after June 2018, the cost would be payable in instalments over 2 months from the date of booking.
- You can get loan for upto 60% of unit cost, which means only 40% is paid by you and balance is funded by bank.
- At the time of booking your unit, you also enter into a 20 year RMA (i.e. Rental Management Agreement) with Starlit Suites, the hotel operator.
- You along with all other unit owners in this hotel apartment will handover the keys of your respective units to Starlit Suites (the operator) on the basis of the above mentioned RMA for next 20 years.
- Starlit Suites (the operator) will then bring in manpower and working capital to run this resort and rent out rooms / units for corporate getaways to employees of India’s leading corporates and MNCs (including Fortune 500 companies) and to families and large tourist groups from all over North India.
- The operator has formal tie-ups / rate contracts with leading firms & MNCs across India (such as TCS, Cognizant, Tech Mahindra, Capegemini, Accenture, Hitachi, ICICI, etc.) which ensure continuous demand / occupancy for rooms throughout the year.
- Incase of tourist and spiritual destinations like Jeolikot, Shirdi and Tirupati, the operator has tie-ups with leading travel agencies, online portals (like Makemytrip.com / cleartrip.com / booking.com etc) and event management companies to capture casual tourists / vacationers / pilgrims as well – in addition to corporates.
- The total gross income generated by ALL the units in the resort is then pooled into a SINGLE BUCKET at the end of each month and then 50% of such total income is distributed equally among all investors – of course based on the size of unit / proportion of area owned by them in the tower.
- Your share of the above 50% paid to all unit owners translates into annual returns of approx 7.5% in Year 1, 8% in Year 2 and 10% to 12% in Year 3 and this keeps increasing year on year to almost 18% to 20% p.a. by 20th year – which means 4 to 5 times greater rental income than that of regular apartments or villas.
- You earn income irrespective of whether YOUR unit is rented out / occupied or not :
Since income of all rooms is pooled into a single bucket and then divided equally among all unit owners, you will earn as much income as any other similar unit owner – irrespective of whether your own particular unit is occupied or not.
- No scope for operator to cheat you as you are getting 50% of TOTAL or GROSS INCOME :
Since you and other unit owners are being given 50% of TOTAL / GROSS income – that is total revenue BEFORE any expenditure is deducted by operator – you will always earn high rental income irrespective of the expenses incurred by the operator.
- Income is credited automatically to your bank account every month via ECS :
Your income is credited directly to your bank account through ECS credit on the 25th of every month – which means absolutely no manual collection of rent cheques!
* For the 1st & 2nd year, you get 40% of total income and from 3rd year onwards, you get 50% of total income. This is done as operator incurs massive expenditure in marketing & promoting the new building in the beginning and is hence given 60% of the total income in the 1st & 2nd year and from 3rd year onwards, the total income is shared equally in a 50:50 ratio between you (the investor) and operator.
What is the rental income per month?
Income Projection Sheet
On average & in the beginning, you will earn approx Rs.25,000 per month on a Studio of Rs.35 lakhs and approx Rs.40,000 per month on a 1 BHK of Rs.50 lakhs – translating to 8% to 10% ROI per annum.
Over the next 15 to 20 years, this income will grow to Rs.50,000 & Rs.80,000 per month for a Studio & 1 BHK respectively – translating to almost 16% to 18%.
- For you to know how much you can expect to earn per month from year 1 upto year 20 and beyond, the operator has created a detailed Income Projection Sheet (PDF), based on the occupancy levels he expects to achieve and the room rates he can charge based on the rate contracts that he has with his clients.
- Operator has assumed average occupancy rate of just 70% throughout the lifetime of the property – which is a very conservative estimate as he is running his existing properties at a much higher 75% to 80% on average.
- Even the room rates he plans to charge are very conservative compared to other hotels in the surrounding areas – infact Starlit Suites gives you 2 to 3 times larger rooms for 50% to 50% LESS than comparable hotels.
- Click here to view this Income Projection Sheet (will open in a new browser tab/window).
for Lesser Cost
- In Nainital, Bhimtal and surrounding areas, comparable 3 star resorts charge between Rs.4500 to 6000 per night for a standard double room which is on average 250 to 300 sft in size.
- Starlit Suites Jeolikot is the largest resort with 66+ rooms, which can accommodate more than 200 guests at a time, has the unique advantage of being able to host large corporate retreats, training programs, incentive programs and large family groups & destination weddings.
- Starlit Suites, is giving you a 504 Sft Studio & 720 Sft 1 BHK rooms at an average rate of just Rs.3500 per night – which means you are getting 2 to 3 times larger room for almost 20% to 30% LESS than the cost of comparable hotels in the same area.
- This makes Starlit Suites an incredible VALUE FOR MONEY option which attracts not only companies but also leisure travellers / tourists as well.
* Prices quoted here for comparable hotels are for a Double Occupancy Cancellable Booking with Breakfast. Many price comparison or online booking websites show prices that are AFTER DISCOUNT / COUPONS and EXCLUDING breakfast or NON-CANCELLABLE rates which might be misleading and hence always consider above when comparing prices with Starlit Suites. Such hidden charges could add as much as 20% to the basic cost of a room. While online portals give you massive discounts once in a while, the hotel is actually getting paid a much higher rate as the discount is borne by the booking portal and NOT the hotel.
Enjoy 7 FREE Star Nights per Year
You get 7 nights free stay per unit per year, with complimentary breakfast.
Out of 7 nights, 4 nights can be used at any Starlit Suites tower across India.
4 towers are currently operational, 6 under construction and 20 more in pipeline.
What makes this income so predictable and stable?
What is the guarantee that I will earn the income that is being showcased here?
This model is tried and tested and has been running successfully for the last few years at Bangalore, Cochin, Pune & Delhi-Neemrana.
The below features make it a foolproof investment where all your interests are safe guarded & no one can manipulate your investment or its returns.
You Earn Income Even If your Room is Vacant
Since income from all the rooms is combined into a single bucket and then divided equally among all investors irrespective of whether their particular unit is rented out or not – you will still earn as much as every other unit owner in the building. Hence, you need not worry about whether your individual unit is getting rented out or not.
Stable & Predictable Demand Locked-In In Advance
The operator has already established relationships with over 200 MNCs – including many Fortune 500 firms – and signed formal rate contracts with many of them, which gives him assured business / occupancy for rooms throughout the year – which in turn means consistent monthly income for you.
Gross Income Sharing : No Scope for Operator to Cheat You
You get 50% of Gross Income – which is TOTAL INCOME BEFORE any expenses are deducted by the Operator – and hence there is no scope for manipulation and making your income independent of expenditure incurred by the operator. This means operator cannot inflate expenses and show less profit to try and cheat you etc.
Audited Statements Issued to You every 3 Months
Once every 3 months, you are given Audit Certificate (issued by a Chartered accountant) giving you details of the entire revenue generated by the building for each month and how that income is being split between operator and investors. This along with above aspect of sharing of gross income will ensure highest level of transparency as this leaves no scope for operator to manipulate accounts in any manner.
No Cash Transactions
Since payments are made by companies by RTGS / cheques or by employees’ credit card, there is hardly any cash involved and hence no scope for operator to manipulate occupancy figures to hide any income. Even incase of bookings by casual travellers, systems have been put in place by the operator to eliminate any unaccounted occupancy.
No Maintenance Charges or
Operator pays all expenditure out of his share of income – hence ZERO expenditure for you as investor
As an investor, you do NOT incur any expenditure for day to day management or operations of the hotel tower.
All expenses are incurred by the operator OUT OF HIS SHARE OF THE INCOME and hence such expenditure does NOT affect YOUR SHARE of income.
- OPERATING EXPENDITURE
Staff salaries, electricity & water costs, licenses, etc and all and any expenditure related to day to day operations are paid for by the operator out of his share of income and hence will not be paid or shared by you.
- FURNITURE REPLACEMENTS
Your unit comes with furniture, appliances and fitouts included, which are executed by the operator to ensure highest quality. Incase of any damage to the items, they are replaced at the cost of the operator and hence you as an investor need not worry about the quality and safety of your furniture or having to pay for repairs and replacements etc.
- INTERNAL MAINTENANCE
The operator takes complete responsibility for maintaining the property on the lines of a 3 / 4 star accommodation AT HIS COST to ensure highest occupancy. This automatically ensures the highest upkeep of your property and strong capital values and appreciation.
Is there enough demand for serviced apartments in India?
A growing number of business travellers / companies & tourists prefer staying in serviced apartments than hotels because…
- The operator’s main target is the corporate traveler who travels for training, conferences, exhibitions, short-term projects, etc. where typical stay lasts for 10 to 14 days on average and can extend up to as much as 6 months to 1 year in some cases.
- Another big target segment are employees who have been relocated to a new city or fresh hires who are being given 15 to 30 days of free accommodation by their employer.
- Incase of spiritual destinations like Shirdi and Tirupati, even casual tourists / pilgrims are increasingly preferring serviced apartments as rooms are 2 to 3 times larger and more importantly, 30% to 50% CHEAPER than hotel rooms.
- Such long term travellers always prefer a serviced apartment over a regular hotel because they can cook their own meals, order room delivery of food from their favourite restaurant and entertain guests in their rooms – which is not possible in star hotels.
- And they can enjoy all of this with an ambiance similar to a 3 star hotel, but in much bigger rooms with more space – giving them a comfortable “home away from home” feel.
- After salaries and office rent, the 3rd biggest expenditure for companies are employees’ TRAVEL RELATED COSTS.
- Serviced apartments are 30% to 40% CHEAPER than hotel rooms, which results in tremendous cost savings for companies – especially when employees travel for extended periods.
- The operator also complies with their requirements for fire and safety measures, ensuring highest safety for their employees in line with corporate insurance policies.
- This coupled with the serene and secluded ambience of Starlit Suites Jeolikot, will ensure a constant flow of companies and leisure travellers to across India.
Operator Profile and Experience
Starlit Suites – India’s No.1 extended stay serviced apartment operator
To understand their leading position in India in this segment and their unique strengths to ensure good monthly income in the long run, click here to read their profile.
- There are NO organized or established serviced hotel apartment chains / operators in India, that too with multiple properties across the country.
- Existing serviced apartments are fragmented, unorganized and mostly run by individuals or part time players who have no expertise in the business and are limited to just one location or city.
- Starlit Suites is the first organized & branded player in the Extended Stay Segment across India with properties in multiple cities (4 operational, 6 under construction and 20 more in the pipeline) and is hence leading the market.
- Other hotel brands are focused entirely on the Short Stay Segment which is completely different and DOES NOT COMPETE or COMPARE with serviced apartments – as the target customers, pricing, duration of stay, facilities provided are completely different in both these industries.
- Starlit Suites focuses purely on Extended Stay segment for corporate travellers which has a much larger audience + consistent, predictable and growing volumes year after year.
Can you sell this apartment after sometime & exit?
YES you can.
You can sell your unit to anyone at any point of time and exit with substantial capital gains, in addition to the monthly income that you would have earned until then.
Massive Demand for High Monthly Income Assets
- Current FD rates in India are at an all-time low of 6.75% per annum and are set to fall further to as low as 5% over the next few years.
- Rental income from residential property is a minuscule 2% to 4% and falling.
- Commercial property may give you 7% to 8% ROI but they need a much larger investment of Rs.3 to 5 crores which is impractical for most of us.
- So people will happily buy any asset that gives you more than 9% to 10% ROI – which Starlit Suites exceeds by a large margin as it gives you 10% to 12% in the beginning which grows to as much as 18% to 20% by 15th year.
- Investors would queue-up outside your door to buy such a high income generating asset from you as there are no other safer, stable and predictable income alternatives in India.
Greater Appreciation than Regular Apartments or Villas
Since these apartments are fully furnished, fully air-conditioned and fully serviced and come with a long lease with high monthly income, they will appreciate a lot more than regular apartments or villas.
Loans make it Very Affordable
Small ticket sizes and availability of loans make these highly affordable and easy for anyone to invest in Starlit Suites, because of which there is massive demand for such assets – making it easy for you to sell whenever you want to.
Constant Waiting List for Resale Properties
We receive enquiries on daily basis from many investors who are eager to purchase such high income assets and hence reselling your unit will be easy due to such waiting list that builds up in each city. For example, at Bangalore where we did our first tower (126 room hotel at Electronic City), we have a waiting list of over 57 people who are eager to buy any unit that may come up for resale.
Buyer Gets Income from Day 1 of Investment
The person who is buying this asset from you would start earning rental income immediately (i.e. from Day 1 of his investment) and thus would be willing to pay you a premium to buy such a proven asset from you. You can also show your bank statement as a proof of income being generated by your unit.
Seven nights FREE Stay @
ANY Starlit Suites property
- For every unit you own, you get 7 nights of FREE stay with breakfast PER UNIT PER YEAR.
- Out of these 7 nights, you can spend 4 nights at any other Starlit Suites location (currently operational at 4 locations, 3 more to get added by end of 2017 and 20 other cities eventually over the next 6 to 8 years).
- That is, if you invest in Starlit Suites Jeolikot, you can use all the 7 free nights at Jeolikot, or use upto 4 nights at any other location such as Bangalore, Hyderabad, Shirdi, Tirupati, Delhi-Neemrana, Cochin, Kolkata plus 20 more locations and balance 3 nights at Jeolikot.
- You can also gift these free nights to your family, friends and colleagues and any unused free nights can be rolled over to the next year (for a maximum of 2 years).
Asset becomes Free in 10 Years
You will recover your entire investment in 10 to 11 years
- When you invest using a home loan, the income from these hotel apartments will be greater than the EMI you pay on your loan.
- This is because your EMI is calculated at 8.35% (current floating rate) on 60% of unit value, whereas you are earning income of 8% to 10% on 100% of unit value.
- For example, when you buy a Rs.35 lakh Studio by taking 60% loan which is Rs.21 lakhs, your EMI would be approx Rs.21,000 per month, whereas income in 2nd year itself is Rs.22,000 and by end of 3rd year is Rs.25,000 per month.
- And the excess profit will only keep increasing every year, for example – by 5th year, income grows to Rs.35,000 per month, which means you are left with profit of Rs.10,000 per month!
- Because of this excess income (which keeps increasing every year as EMI remains same but income keeps increasing), you will accumulate enough funds to recover your entire investment of 40% in 10 to 11 years time.
- Post this, you will continue earning monthly income FOR FREE as technically, you are earning this on ZERO investment (as you have recovered your entire initial investment).
- Therefore, investing in this hotel apartment using a loan is the smartest way to create wealth and earn higher ROI in the long run.
- Even if you can afford to pay the entire cost of unit from your own funds, it is financially more lucrative to invest using a loan.
Invest in Starlit Suites Jeolikot if…
- You want to generate an increasing & continuous stream of high passive income to supplement your primary source of income and elevate your lifestyle.
- You want to invest in an exotic holiday home that generates a high rate of return throughout the year, without maintenance hassles.
- You want to build a secondary source of income as a back-up / insurance against job loss, etc in these increasingly uncertain times.
- If you dream of retiring early or are on the verge of retirement and want to create a steady stream of stable, predictable and high monthly income.
- If you are an NRI yearning to return to India but are unsure or have no safe way to generate a consistent monthly income to maintain your current lifestyle that you enjoy abroad, once you are back in India.
- If you are an NRI who has settled abroad and decided not to come back to India forever but want to take advantage of India’s booming economy and real estate story – for which this asset is the best way to participate in India’s growth.
- If you dream to own a chain of hotel rooms across India by investing in multiple micro assets across top cities of India instead of sinking all your money into a single asset in just one city.
- If you want to own an asset that is entirely managed by India’s leading professionals rather than having to manage them yourself.
- If you have already retired and want a safe investment that can generate monthly income without having to lock-in your capital for a long time, which is the case with most of the options available today such as FDs, Provident Fund, finance or chit fund companies which provide low monthly returns, no capital appreciation and also block your funds for a very long time.
Enjoy Stress-Free Rental Income
Why go through all the stress & hassles of buying & renting out property on your own to ultimately earn just 2% to 4% per annum, when you can earn almost 4 times as much – i.e. 8% to 10% per annum – without any maintenance or involvement from your side by investing in these serviced apartments?
– Located 16 kms before Nainital and equidistant from major tourist spots including the Nainital and Bhimtal lakes.
– Just 30 mins from Kathgodam Railway – daily Shatabdi Train to and from Delhi
– Just 90 minutes from the Pantnagar Airport – 3 Air India flights a week from Delhi
– Close to over 3300 acres of industrial area with over almost 400 companies.
SIZE OF PROJECT
3 Towers + 1 Main Building spread over 1.5 Acres
Ground + 3 Floors
66 Units in total – Mix of Studios, 1 & 2 BHKs
TYPE, SIZE & COST OF UNITS
~ Studio (504 Sft) – Rs.35 Lakhs
~ 1 BHK (720 Sft) – Rs.50 Lakhs
EXPECTED COMPLETION DATE
Construction completed and interiors in progress. Operations will begin in September / October 2018.
SANCTION / APPROVAL STATUS
All Approvals Received & Project Pre-Approved for Home Loans
Returns Matrix, Payment Schedule,
Booking Amounts & Loans
Affordable Prices & Unit Sizes
Studio (504 Sft) : Rs.35 Lakhs – Selling Fast
1 BHK (720 Sft) : Rs.50 Lakhs
These figures are of :
– Inclusive of all furniture and fitouts as per list of furniture and fitouts available in the annexure section at the bottom of this article
– Inclusive of Registration and Stamp Duty as applicable on date of registration (subject to changes by govt from time to time)
– Inclusive of all taxes / GST, cess & deposits payable to local municipality / government (subject to changes by govt from time to time)
– Exclusive of G&C’s service fee of 1.5% on the basic value (read more about this here)
Unlike other apartment projects where you are charged an additional premium for floor rise or premium location etc, there are no such additional charges in this hotel apartment and everyone pays the exact same cost irrespective of position of your unit in the tower.
This ensures that everyone in the apartment earns equal returns irrespective of unit position.
Easy Payment Schedule
- Booking Amount :
10% on booking / along with booking form.
- On Execution of Agreements :
10% on execution of agreement in 1 to 2 weeks from date of booking.
- Balance 80% :
– Incase of self funding, this is payable in equal instalments by September 2018.
– Incase of loan funding, another 20% is payable by September 2018 and balance will be funded via loan. (subject to your individual eligibility*).
– Investors purchasing after September 2018, may pay the cost in instalments spread over 2 months from the date of booking (80% incase of self funding and 20% incase of loan funding in which case loan will be disbursed after signing agreements.
Upto 60% of unit cost can be funded via home loan, which means you pay only 40% out of your pocket. Entire loan process will be handled in-house by us on your behalf so you don’t have to spend time and energy in running around banks etc.
Income is Credited to Your Bank Account Every Month (via ECS)
Each month’s income is credited directly to your bank account on the 25th of the following month and hence there is no need for you to monitor or follow-up for collection of income.
Returns / ROI
While a detailed “Income Projection Sheet” is available in the annexures section, given below is a quick summary of returns you can expect to earn – based on very conservative occupancy and room rates assumed by the operator which we have also validated at our end, based on existing market rates of comparable hotels in the area) :
- 6.5% p.a. by end of 1st year of operations (and this does not include the abrupt hike in capital appreciation of asset in the first 3 years)
- 7.1% by end of 2nd year
- 10% to 12% by 3rd year
- 12.3% to 13% p.a. by 5th year
- 16% to 18% p.a. by 15th year
If you take into consideration the high initial appreciation of capital values in the first 3 years, you may end up earning an average ROI of 20% in 1st and 2nd year alone.
Sale & Construction Agreement (SCA)
This is between you and the builder for purchase of the flat and covers the terms and conditions of sale and construction of the hotel apartment and the timelines involved. This agreement will also have clauses to compensate you incase of delays in construction.
Rental Management Agreement (RMA)
This is between you and Starlit Suites (operator) and captures the terms and conditions of the revenue-sharing agreement with the operator. It contains important clauses related to revenue sharing, operator’s responsibilities, complimentary stay, period of contract, etc.
Furniture & Fitouts Agreement (FFA)
This is between you and Starlit Suites (operator) and it covers the cost and schedule of items that will be included as part of furnishings of your room as per 3 star hotel apartment standards.
Power of Attorney (POA)
This is a legal document giving Starlit Suites the power to operate the unit on your behalf and is a matter of legal formality.
Booking Your Unit
The booking process is fairly simple as explained below :
Please inform one of our team members who will send you the booking form, which you can fill and send back a soft copy along with details of payment of booking amount which you can pay via net banking or by issuing a cheque.
Based on your preference if any, a short list of available units will be sent to you and you can choose from the same to proceed further. All units are priced the same and the returns are distributed equally and hence you can choose any unit out of whatever is available without bothering too much about floor or facing.
In addition to booking amount, once you pay 20% of unit cost, agreements will be printed and issued to you for signing, post which they will be sent back to builder for execution and you will be given your set once builder signs the agreements.
Balance 80% may be paid as per payment schedule and incase you are going for loan, the same will have to be disbursed right away. Please contact our in-house Loan expert Sridhar Kumar on +91 9686627071 / firstname.lastname@example.org for further info or assistance on loan application process and to get a free estimate of your loan eligibility.
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