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PE players place bids for Rs. 2,000 crore realty project

PE players place bids for Rs. 2,000crore realty project

               The Private Equity funding giants including Blackstone, Morgan Stanley, IDFC and Singapore-based developer and investor Ascendas and Mapletree are among the players who have joined the race and put in bids for the Essar Group-backed Equinox Realty's commercial project involving an investment of Rs. 2,000cr. In the emerging scenario in case transaction materializes, it would be one of the biggest PE deals in commercial property. Recently, Ascendas bought a property in Hyderabad from Phoenix Infocity for Rs 855cr and Blackstone has also struck a deal for DLF's special economic zone (SEZ) in Pune entailing an investment of Rs 810cr. The project in question is located off the Bandra Kurla Complex with a development space of 1.2 million sq ft and has become one of the largest campuses in the area.

              According to an insider, for Essar, it is a non-core asset for which funds are showing interest as it is half-rented and has a huge future business potential because of its location. The company had bought this property from the Ashok Piramal Group's Peninsula Land for Rs 1,100cr in 2007. Most of the big funds such as Blacktsone, Morgan Stanley and IDFC are looking at commercial properties due to stable returns and lower risk. According to market experts, in case one enters with 11% yield per annum with a 15% cost escalation one can easily make a return of 18 to 19%. They think it is better than taking development risks in residential projects and giving 24 to 25% returns to investors. 

concrete mix design..........

Good quality concrete starts with the quality of materials, cost effective designs is actually a by-product of selecting the best quality material and good construction practices. Following are 10 Things to remember during Concrete Mix Design and Concrete Trials.

1. ACI and other standards only serves as a guide, initial designs must be confirmed by laboratory trial and plant trial, adjustments on the design shall be done during trial mixes. Initial design “on paper” is never the final design.

2. Always carry out trial mixes using the materials for actual use.

3. Carry out 2 or 3 design variations for every design target.

4. Consider always the factor of safety, (1.125, 1.2, 1.25, 1.3 X target strength)

5. Before proceeding to plant trials, always confirm the source of materials to be the same as the one used in the laboratory trials.

6. Check calibration of batching plant.

7. Carry out full tests of fresh concrete at the batching plant, specially the air content and yield which is very important in commercial batching plants.

8. Correct quality control procedures at the plant will prevent future concrete problems.

9. Follow admixture recommendations from your supplier

10. Check and verify strength development, most critical stage is the 3 and 7 days strength.