Total built up area of the Proposed Building 1,06,256 Sq. ft. of which 37,174 is kept as car parking area & remaining 69,082 is the FAR Area. The FAR works out to 3.30, which is minimal. We can go up to 4 FAR.
The Project envisages construction of a Hotel consisting 50 Double Rooms, Restaurant and a Banquet Hall. The building will also have about 38,155 Sq. ft. of Commercial Area. The Commercial Area can be reduced and rooms or Banquet area can be increased as desired by the Directors.
The Restaurant (4th Floor) will have a Carpet Area of 7929 Sq. ft. (Can seat 112 Guests at a time) and will have ample area for Kitchen, Store and other Offices & Staff Cafeteria.
The company M/s. Nema Hospitality is a Private Limited Company. This company was taken over by the promoters in 2014. Nema Hospitality owns 48 cents (21000 Sq. ft.) of land facing Seaport-Airport Road at Kakkanad, the software technology capital of Kerala — very close to the Cochin Export Processing Zone, Infopark and Dubai Internet City. It is also very close to the District Collectorate and has direct approach to Cochin International Airport.
Cost of Construction Estimated
As the construction of the building is planned by self the rates adopted are 30 % less than contract construction rates.
Source of Funds
Return on Investment Expected
The rate of occupation for rooms is taken at the lowest of 40% average but in reality will be much higher at 50 to 60% in the first year itself due to the proximity to a lot of software companies.
So there is a net short fall of 7.30 Crore which can be met by bank loan or by selling one floor of Commercial Space. The market rate of commercial space today is more than Rs. 10,000/- per Sq. ft. at the area.