The real estate industry is one of the most capital-intensive industries in the world drawing huge investments, skilled labor, and time execution for successful projects. Developers face hurdles which include construction delays, cost overruns, and quality assurance issues. To keep up with the rising demand for residential and commercial properties, developers should try to establish long-lasting alliances with credible construction partners so that quality projects can be delivered in time.
In India, which is marching ahead aggressively with respect to urbanization, Gurugram has turned out to be the prime destination for real estate. The trouble of conversing over heavy project deadlines with quality remains. Unpaid construction time could mean dollars going down the drain, losing customers’ faith while adding to legal troubles for a developer.
Agitation
It is well understood that for real estate companies such as Smart world Developers, project execution success or failure relies on the construction partner. Given that the company is into a number of projects, the company requires a contractor that has delivered quality developments punctually. The real estate industry has seen instances where developers and or their agents end up letting home-buyers lack faith in them while also affecting the sense of trust between developers and investors because of poor construction.
Poor choice of contractor leads to bad construction, unsafe conditions, and overhead delays, which tarnish the reputation of a developer and his financial credit worthiness. Homebuyers, today, are very particular about the transparency and time frame with which they would receive possession of their properties. This further requires strategic thinking by developers while formulating construction contracts.
Solution
Smartworld Developers has handed the project contract worth Rs. 532 cr for its upcoming Smartworld Sky Arc project in Gurugram to Varindera Constructions for timely and quality execution. The move is strategic as it reaffirms the interpretation of Smartworld’s sober commitment to developing high-end infrastructure with construction quality in mind.
Key Highlights of the Partnership:
Enormous Investment: The overall investment for Smartworld Sky Arc stands at an approximate Rs 1,700 crore, of which Rs 532 crore is earmarked for construction under Varindera Constructions.
Project Size: The project is over 6.9 acres and would have more than 900 units planned in its first phase because of the increased demand for premium lifestyle living.
Proven Track Record: Varindera Constructions is famous for delivering quality developments on time, and this makes it a go-to company for such a large-scale project.
Strategic Growth: Smartworld Developers has allocated contracts worth Rs 1,400 crore in the past half a year, thus showcasing aggressive expansion in the Indian real estate sector.
Founded in 2021 as a subsidiary of M3M India Group, Smartworld Developers has shown rapid footprints into Gurugram. The company eyes to hand over possession of nearly 50 lakh square feet over the next few months to reinforce the company commitment to urban development and housing solutions.
Conclusion
This construction mandate from Smart world Developers to Varindera Constructions has taken an important step towards the successful execution of Smartworld Sky Arc. It highlights the need and importance of strategic partnerships in the real estate industry, where timely delivery and construction quality play essential roles in the success factor.
As Gurugram continues to grow at a brisk pace, such large-scale projects would fulfil the emerging housing needs along with driving the economy. Smartworld Developers and Varindera Constructions will hence make this development a landmark in the region’s real estate. The partnership reaffirms the commitment to providing good infrastructure that meets the expectations of the modern homebuyer and, more importantly, investors.
Stay tuned for further updates on the progress of Smartworld Sky Arc and other upcoming projects by Smartworld Developers.
