High Monthly Rental Income
Hotel Apartments @
Earn Rs.55,000 to 60,000 per month
by investing in Serviced Hotel Apartments in TIRUPATI
– one of the top 10 most visited Spiritual Destinations of the World
On an investment of just Rs.65.99 lakhs
~ all inclusive price for a 2 BHK ~
(home loan available)
Available Exclusively & Only through G&C
Completion by March 2019
4x Greater Rental Income
than Normal Apartments
Exploding Demand for
Hotel Apartments in India
Managed by India’s Leading
Hotel Apartment Operator
Home Loans Available
from Leading Banks
Huge Tax Savings (80C & 24)
Upto Rs.3,50,000 p.a.
Zero Maintenance Asset
with 20 Year Lease
Enjoy FREE Stays Every Year
7 Free Days across India
Already Operating @
Bangalore, Cochin & Delhi-NCR Neemrana
Bang in the center of Tirupati
SOLD OUT !
Since we are in the final stages of completion of
this iconic tower of Tirupati, all units are sold out.
We highly encourage you to consider Starlit Suites SHIRDI where you can earn the SAME ROI as Tirupati, that too with almost no competition!
Operations in Shirdi are expected to begin by June 2019
and we have only 7 units of 2 BHK left in that tower.
2 BHK (990 Sft) : Rs.70.51 Lakhs all inclusive
Construction is 95% Complete
. Finishing Works In Progress .
Completion Expected by March 2019
Rooftop Swimming Pool
Only One of its Kind & Highest in Tirupati
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 in Tirupati is this located?
- Operator & Builder Profiles
- Financials – Unit Size, Cost, Payment Schedule & Home 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 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?
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 Tirupati and other major cities, you can earn highest monthly income of Rs.55,000 to 60,000 per month on an investment of just Rs.65.99 lakhs (2 BHK).
HOW DOES THIS WORK?
- You invest in a fully furnished, fully air-conditioned and fully serviced hotel apartment (1 BHK / 2 BHK) that will be built to the standards of a 3 star hotel.
- 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 Shirdi & Tirupati) as a 3 star extended stay serviced hotel apartment.
- 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 spiritual destinations like 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 revenue generated by all the units in the entire hotel apartment tower 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 & 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.
Located right in the middle of Tirupati
Starlit Suites Tirupati is located right in the heart of Tirupati and is just 6 minutes from the Main Bus Stand and 10 minutes from the Railway Station.
Starlit Suites Tirupati is part of a 10 acre residential complex – 6 acres of row homes / villas (fully operational) & 4 acres of residential apartments, of which Starlit Suites is one building.
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 8% to 10% 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 Delhi, Pune, Bangalore and Kochi.
Highly Affordable Price & Relaxed Payment Schedules
Units are priced at just Rs.65.99 lakhs (all inclusive price) and you also get home loans from leading banks for upto 60% of unit cost, which means you pay just 40% or only Rs.30 lakhs from your pocket and rest is funded by bank – making it very affordable and easy on your pocket.
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 across India
– You get 7 days free stay per 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, Tirupati).
– 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 Prime Locations
Apart from monthly income, you are also going to earn capital gains as you are acquiring an asset in very prime and key commercial localities of key cities of India. Normally, it would not be possible to acquire such prime property at such low ticket sizes and because of this, you will also enjoy tremendous capital gains in addition to high monthly income.
Masterplan of Starlit Suites Tirupati
(part of a 10 acre mixed use residential development, consisting of row homes and apartments)
How does Starlit Suites serviced apartment generate such high monthly rental income?
- A custom designed serviced hotel apartment tower is constructed by a leading builder, with all the facilities of a 3 star hotel such as gym, pool, bar & restaurant, meeting rooms, etc.
The tower 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 construction.
- You can get home 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.
- Once construction is complete, 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 hotel apartment and rent out rooms / units for extended stays to employees of India’s leading corporates and MNCs (including Fortune 500 companies).
- The operator has formal tie-ups / rate contracts with leading firms across India (such as Infosys, Wipro, Cisco, HP, Dell, HCL, TCS, Biocon, etc) which ensure continuous demand / occupancy for rooms throughout the year.
- Incase of spiritual destinations like Tirupati & Shirdi, 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 tower 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 – ofcourse 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% in Year 1, 8% in Year 2 and 10% in Year 3 and this keeps increasing year on year to almost 18% p.a. by 20th year – which means 3 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.55,000 to 60,000 per month on a 2 BHK of Rs.65.99 lakhs.
Over the next 15 to 20 years, this income will grow to as much as Rs.90,000 per month – or around 16% to 18% per annum.
- A detailed Income Projection Sheet (PDF) is available in the annexures section at the end of this page and it shows you how much you can expect to earn per month from year 1 upto year 15.
- This sheet is created by the operator, 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.
- For this, 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 gives you 2 to 3 times larger rooms for 30% to 60% LESS than comparable hotels.
- When you scroll down to the end of this page, you will find a link to view this income projection table in the “Annexures” section.
for Lesser Cost
- In Tirupati, comparable 3 star hotels such as Marasa Sarovar, Minerva Grand, Fortune Grand Ridge, Ramee Guestline, Keys Hotel, etc are charging Rs.3,800 to 12,000 PER NIGHT for room that is on average 200 to 400 Sft in size.
- Starlit Suites on the other hand is giving you a 1 BHK of 843 Sft & 2 BHK of 1224 Sft for an average rate of just Rs.3500 to 7000 per night – which means you are getting 2 to 3 times larger room for 20% to 40% 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 tourists & pilgrims but also business travellers 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 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.
Look at what comparable top hotels in Tirupati are charging as of today…
Shown below are screenshots of the world’s most popular hotel reservation website – booking.com where you can clearly see the kind of rates being charged by top comparable hotels in Tirupati as of today.
Rates shown below are for both Suite Rooms (comparable to 2 BHKs in Starlit Suites) and Regular / Double Rooms (comparable to 1 BHKs in Starlit Suites) – compared to which Starlit Suites is going to be much more affordable / cheaper despite providing the same quality of service, amenities and ambience.
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 and 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.
** SINKING FUND **
- To keep the hotel fresh, new and relevant to changing tastes and amenities, the operator carries out overhauls / upgrades of major equipments and amenities of the hotel (such as lifts, carpets, exterior facade, power back-up generators, etc) which needs a significant investment once every 8 to 9 years.
- Instead of expecting investors to invest once again out of their pockets, the operator creates a corpus of funds by setting aside 3% of your share of income into a separate account called a “Sinking Fund”.
- This money & the interest earned on the same belongs to you and all the other investors jointly is used to make such large changes and overhauls.
- This way, you will not have to invest extra money once every 8 to 9 years which is very important and has to be done to keep the building and rooms attractive to guests in the long run.
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 employee 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 close proximity of these hotel apartments to major IT/ITES, finance & other business hubs, is greatly contributing to the increasing demand for such corporate serviced residences 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 8% to 10% in the beginning which grows to as much as 16% to 18% 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.
Home Loans make it Very Affordable
Small ticket sizes and availability of home 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 Tirupati, you can use all the 7 free nights at Tirupati or use upto 4 nights at any other location such as Bangalore, Hyderabad, Delhi-Neemrana, Shirdi, Pune, Cochin, Kolkata, Trivandrum and balance 3 nights at Tirupati.
- 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 8 Years
You will recover your entire investment in 8 to 9 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 8.4% (current floating rate) on 60% of unit value, whereas you are earning income of 10% to 12% on 100% of unit value.
- For example, when you buy a Rs.65.99 lakh 2 BHK by taking 60% loan which is Rs.38 lakhs, your EMI would be approx Rs.38,000 per month, whereas income in Year 1 itself is Rs.39,500 per month – which means you are left with profit of Rs.1,500 per month EVEN AFTER paying off your EMI.
- 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 8 to 9 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 home 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 home loan.
Invest in Starlit Suites Tirupati 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 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?
Near Bhimas, off Renigunta Highway & just 900 meter from Main Bus Stand
SIZE OF PROJECT
144 units spread across 12 Floors
10 acre mixed development project with apartments and villas
TYPE, SIZE & COST OF UNITS
1 BHK (843 sft) – SOLD OUT
2 BHK (1224 sft) – Rs.65.99 Lakhs
EXPECTED COMMENCEMENT & COMPLETION DATES
Construction of tower is complete and furnishings are in progress to be completed by March 2019.
SANCTION / APPROVAL STATUS
All sanctions & approvals received and project is also pre-approved for loans by all top banks such as HDFC, ICICI, Axis and many more.
Where in Tirupati is this located?
Located near Bhimas, just 800 meters from the Central Railway Station and Bus Stand, Starlit Suites boasts of one of the best locations in the town being located close to the town center, yet away from all the noise and dust. It is just 6 kms from the Venkateshwara Temple entrance.
Tirupati is the most visited pilgrimage destination in the world.
With an estimated 20 million + visitors every year, Tirupati witnesses 100,000 visitors during off-peak season and as many as 400,000 to 500,000 visitors per day during holidays / peak season.
Tirupati witnesses equal traffic and popularity in both recession times and boom times as on both occasions, Lord Venkateshwara is 1st one to be remembered by many devotees, thus ensuring lifelong tourism which will only increase every year.
Much more than just a Temple Town!
The temple town, Tirupati, is in for a giant leap in progress with premier institutes and industrial majors setting up their units in the Tirupati-Chittoor-Nellore hub, giving a tremendous boost to employment in this region.
- The state has established a new 149 acre IT park at Renigunta (outskirts of Tirupati), very close to the Tirupati International Airport – making it attractive for companies to set up shop here.
- An IT incubation centre called “INQ” is already operational, to make it easy for firms to setup their operations in the city.
- Adjacent to IT Park, the state has also developed a 504 acre “Electronic Hardware Manufacturing Cluster (EHMC)” near the Tirupati (Renigunta) International airport – andland has already been allotted to leading electronic component manufacturers and is set to change the face of the city into an IT and electronic hub.
- Mobile company Celkon had started production in 2017 and Micromax, Karbonn, Lava and two more mobile companies from China will also start their factories shortly, as part of the Rs.2000 crore Mobile Technology Park.
- The state has also developed a ceramic ware manufacturing zone near Srikalahasti where many leading ceramic manufacturers like Kajaria have been allotted land to setup their units.
- 2 wheeler giant Hero MotoCorp has set up its Rs 800 crore unit and is planning to start production in December 2018.
- ZOHO – the CRM software company is in the process of setting up a development center in Tirupati.
- AECOM-Deloitte has been appointed as the Project Management Consultant (PMC) to implement the “Smart City” rollout for Tirupati – which is among the top 100 cities shortlisted by the central government to be upgraded as a Smart City.
- Tirupati International Airport is all set to operate international services from 2018 – resulting in both a significant reduction in travel time & a big boost to pilgrim tourism in this area. From 2015-16 to 2016-17, traffic through Tirupati airport has increased by 48% (over 5,00,000 people used the airport in 2017) – showing the immense potential for growth.
- Premier institutes like the Indian Institute of Technology (IIT) and Indian Institute of Science and Education Research (IISER) are already underway in Tirupati to provide highly skilled manpower to the industries in the surrounding belts.
- The coexistence of such prestigious educational institutes and industrial biggies has formed a “forward and backward linkage’, – a winning combination that is very rarely possible in India, the benefits of which Tirupati is set to enjoy over the next few decades.
Tirupati International Airport
Number of visitors to Tirupati :
5,00,000 per day during weekends & festivals
1,20,000 per day during off-season
Even if just 1% of above traffic is capable of staying in a 3 star hotel, it is enough to fill-up the ENTIRE STOCK of 3 star hotel rooms in Tirupati, including Starlit Suites – infact the number of rooms available in Tirupati would NOT be enough to cater to even 1% of the daily traffic!
A huge and increasing influx of pilgrims has catapulted Tirupati into one of the most highly visited tourist and pilgrimage destinations in the world, thus giving immense scope for the hospitality industry (i.e. operators like Starlit Suites) to grow and flourish in perpetuity.
There are NO comparable 3 star quality serviced apartments / hotel rooms in Tirupati as of now, that too with massive 1 & 2 bedroom suites where groups/families can stay together in a luxurious and upmarket ambience – thus making Starlit Suites Tirupati a very promising investment.
There are no hotels in Tirupati with more than 100 rooms / suites in a SINGLE CAMPUS for corporate tourism (where companies will find it rewarding to hold strategy meetings, distributors award nights off site meetings, conventions at such locations as Tirupati, to give the opportunity to many employees to combine their work & spiritual life).
Existing hotels already get SOLD OUT on a regular basis and to such a great extent that guests no longer receive the standard of services that they otherwise expect, due to such the constant rush / overbooking at these old and shabbily run hotels.
The ban on any fresh constructions on the Hills (i.e. Tirumala means that there is no chance of any big hotel being constructed on the hill top / Tirumala.
Even in the heart of Tirupati city, NO BIG LAND PARCEL IS AVAILABLE to construct any large hotel – which means that Starlit Suites Tirupati will be the ONLY brand new 3 star hotel that is conveniently located in the heart of Tirupati.
Companies / corporates are find it increasingly difficult to find quality hotels / convention and training facilities at Tirupati.
High-end business environment, large scale employment, enhanced spending capacity and demand for better lifestyle will soon lead to an explosion in demand for quality branded hotel rooms in Tirupati.
And with the expansion / upgradation of Tirupati airport to an international airport status, traffic is only going to increase year after year!
It is hence very easy and safe to conclude, that Starlit Suites Tirupati will see tremendous demand and very healthy & high occupancy levels, which will only increase with time…
Builder Profile & Track Record
The builder is one of the most reputed names in the industry, having constructed the first commercial complex of Hyderabad, first villa project of Hyderabad and many more firsts.
With a proven track-record of excellence in the real estate sector for 3 decades they have reached commanding positions in the construction industry.
Their projects include some of the outstanding gated community villa projects, multi-storied residential complexes and commercial complexes in and around twin cities of Hyderabad and Secunderabad.
For full profile, please see the annexures section at the end of this article.
Returns Matrix, Payment Schedule,
Booking Amounts & Home Loans
Affordable Prices & Unit Sizes
2 BHK (1224 Sft) : Rs.65.99 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)
– Exclusive of G&C’s service fee of 1.5% on the total value (excluding registration & stamp duty).
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.
Comparative Price Analysis
Please click here to view a comparative analysis of cost price of Starlit Suites Tirupati versus comparable apartments in the vicinity and you will be thrilled to see that this super class high monthly income asset is available to you at a discount when compared to a regular apartment in the surrounding area.
Easy Payment Schedule
- Booking Amount :
20% along with booking form and agreements will be executed.
- Balance 80% :
– Incase of self funding, this is payable in instalments based on construction progress.
– Incase of home loan funding, another 15% to 20% is payable based on construction progress and balance 60% will be funded by the bank (subject to your individual eligibility*).
Home Loan Available
If you invest using a home loan, upto 60% of unit cost can be funded via the loan which means you pay only 40% out of your pocket.
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) :
- 7.2% p.a. in 1st year of operations (and this does not include the abrupt hike in capital appreciation of asset in the first 3 years)
- 10.2% to 11% by 3rd year
- 14.4% to 15% p.a. by 10th year
- 17.2 to 18% p.a. by 15th year
If you take into consideration the high initial appreciation of capital values in the first 3 years and considering that the asset value might almost double in 4 to 5 years, you may end up earning an average ROI of 30% in 1st and 2nd year alone and hence this is a NO – BRAINER Investment.
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.
Next Steps and Booking Process
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 home loan, the same will have to be disbursed right away. Please contact our in-house Home Loan expert Sridhar Kumar on +91 9686627071 / firstname.lastname@example.org for further info or assistance on home loan application process and to get a free estimate of your home loan eligibility.
Click on below links to view additional important information about this high monthly income project in Tirupati :
For bookings or queries please call any of our below team members :
19-1-23/2/1, Chintala Chenu
Opp Gopal Hero Honda Showroom
Tirupati Temple Town, Tirupati – 517501