Bestech – A Firm Delivery

The firm of Park View fame, Bestech has been garnering headlines for their new offering – Bestech Parkview Altura at Sector-79 in Gurgaon. This is one of the few launches Gurgaon has seen in times when the market here has been slowing down. This launch is their first in residential segment in past three years.

Bestech Group forayed into real estate business more than two decades ago. Since then it delivered quality and customer satisfaction with projects not only limited to residential and commercial sectors but also hospitality and retail. The scale of delivery and achievements are plenty – Bestech has accredited to its name a total development of 30 million sq. ft. and of this 11 million sq. ft has already been delivered, another 7. Million sq. ft is under development and a total of 11.5 million sq. ft is under planning. The Group is a brain child of Mr. Dharmendra Bhandari and Mr. Suni Satija who are themselves civil graduates. Bestech is name much familiar in NCR not only with consumers but also intermediaries, financiers and media. The firm’s claim to fame has been  timely delivery of projects, quality construction and better specifications. Below are some facts that form the backbone of the much familiar sounding statement (we gathered the data during our interactions with the firm’s management):

Top 5 delivered residential projects by Bestech Group at Gurgaon:

S.no. Project Location Sizes Total units Start of construction End of construction
1. Park View City-I Sohna Road, Gurgaon 3BHK apartments. Size varies from 2345 sq. ft. to 3939 sq. ft. 526 September-2004 August-2007
2. Park View City-II Sohna Road, Gurgaon 3/4BHK apartments. Size ranges from 1859 sq. ft. to 2639 sq. ft. 443 September-2005 August-2008
3. Park View Residency Sector-3, Palam Vihar, Gurgaon 2/3BHK apartments. Size ranges from 1415 sq. ft. to 1920 sq. ft. 689 January-2007 January-2010
4. Park View Spa Sector-47, Gurgaon 2/3BHK apartments. Size ranges from2995 sq. ft. to 3495 sq. ft. 396 June-2009 September-2013
5. Park View Spa Next Sector-67, Gurgaon 3/4BHK apartments. Size ranges from 1790 sq. ft. to 2685 sq. ft. 467 February-2010 April-2014

 

Bestech Parkview City- Delivered Project
Bestech Parkview City- Delivered Project

Under the Park View series Bestech has a number of other projects in Gurgaon which are at present under-construction. Park View Grand Spa is placed in Sector-81, Gurgaon with a total of 19 lac sq. ft. comprising  of 561 apartments, 30 penthouses and 7 luxurious villas. One of the striking features of the project is an 8 acre central park. Park View Sanskruti is a project featuring 3BHK and 4BHK apartments in sector-92, Gurgaon, adorning all modern day luxurious facilities. A new tower was launched in the project Park View Spa in sector-47 in the year 2014, with an exclusive development of only 30 apartments of 3BHK + Lounge segment. Following suit is the recent announcement of Parkview Altura, with 3BHK and 4BHK apartments and high end specifications with split AC’s, modular kitchen and a number of sports engagements. A special Possession Linked Payment Plan (25:25:50) has also been announced for the project with first 25% to be paid in first four months, next 25% on completion of super structure and balance 50% is to be paid when the project is nearing completion.

Bestech Park View Ananda
Bestech Park View Ananda

Park View Ananda at New Gurgaon is a project the firm is currently handing over to buyers. It is a project which has received several accolades in media and is already inhabited.

The firm has been performing well even in commercial developments. Here are the top 5 delivered commercial projects by Bestech at Gurgaon (we gathered the data during our interactions with the firm’s management):

S.no. Project Location Size (in sq. ft. ) Start of construction End of construction
1. Bestech Centre Point Sushant Lok, Gurgaon 30,000 November-1999 November-2001
2. Central Square Sector-56, Gurgaon 74,000 August-2005 December-2007
3. Bestech Cyber Park NH-8, Gurgaon 5,60,000 July-2007 October-2012
4. Park View Business Tower Sector-48, Gurgaon 7,65,000 March-2009 November-2011
5. Orient Bestech Business Tower Sector-34, Gurgaon 6,52,000 February-2008 August-2013

 

The Bestech Group also has a commercial project under-construction, Bestech City Gate located in New Gurgaon. The project is a mix of modern day retail and office spaces, with retail shops ranging from 1000 sq. ft. to 6500 sq. ft. The project once complete will lend the much needed ready retail backing for the residents of New Gurgaon.

Bestech Group initiated their journey in the hospitality sector 15 years back, and their major assignments include Park Plaza Noida, Radison Blu Suites Gurgaon, Radison Blu Hotel Indore and Radison Blu Hotel Nagpur. The group has strategic partnership to develop 49 hotels spanning 11 cities in India with the Carlson Rezidor Group.

Their timely delivery has been appreciated by the industry, and Bestech was recognized for same when they won the title of “Best Timely Delivery of the projects in Gurgaon” at The Infra & Realty Sutra Awards 2014. Another award that recognized their dedication for timely delivery was the “Excellent Delivery Track Record” award at the NDTV Property Awards 2014. Their project Bestech Parkview Ananda was also conferred as the “Premium apartment project of the year – North” at the prestigious NDTV Property Awards 2015. All this has been possible for firm’s background in construction, owned equipment and machinery, stringent quality checks and experience gained over the years.

A number of groups boast of keeping up to their employee expectations and treating them as an integral part of the organization, Bestech moves a step ahead to cater to the workers at the construction sites as well. Worth a mention is their CSR effort termed as the “Mobile Crèches ”. The mobile crèches are day care centres for the children who live at the construction sites and caters to their need for nutrition, education and healthcare. Several thousands of families and children have benefitted from these services and facilities.

Site for New Launch-Bestech Altura
Site for New Launch-Bestech Altura

One of the major complains in the real estate sectors have been relating to the delivery woes. NCR has witnessed projects delayed by over 3-4 years. The list is long and several noteworthy names fall into the list as well. Amidst all this, Bestech has emerged as a developer with a solid delivery track record. We also believe that firm’s typical way of operation i.e. manage few projects at a time is also a contributor to their achievements. Moreover firm is backed by credible financial partners, more recently JP Morgan backed them in their project Bestech Park View Altura.

4 Replies to “Bestech – A Firm Delivery”

  1. @Rakshit: Current Best Investment Price in this Sector should be below INR 4000/-. My take is go for Ready to move properties as these will have high ROI which incl. Tax Savings + Minor Rents + Good Deals + End Users. All these factors add roughly INR 500/- psf per annum to RTM property in comparison to these null and void investments.

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