CRISIL Rates Bella Vista Phase-I as Belgaum-5 Star Residential Project
Belgaum, 22nd April, 2014: Bella Vista, the flagship project of Adam Realty, one of the renowned real estate developers of Belgaum, has been awarded a Belgaum-5 Star Rating by CRISIL Real Estate Star Ratings (CREST). This award was presented by Anurag Jhanwar, Director, CRISIL Real Estate Ratings to Raj Bhandari, Managing Director of Adam Realty at a function held at Bella Vista grounds in Belgaum that was attended by many city luminaries and the media. MP Suresh Angadi, Belgaum South MLA Sambhaji Patil, Belgaum Rural MLA Sanjay Patil joined executives from Crisil, Adam Realty and land partner Vega on the podium.
“CREST is an independent, credible and comprehensive ratings service that seeks to help property buyers and developers benchmark and identify quality real estate projects in their respective cities. Our ratings provide a comprehensive evaluation of all critical project specific parameters. Today, we are pleased to announce the award of “Belgaum – 5 star rating” to Bella Vista-Phase1.” said Anurag Jhanwar.
Mr. Jhanwar further added, “There is a need for enhanced transparency in the real estate sector, which can be achieved through self-regulation by developers. The good news is that we are now seeing developers coming forth and embracing this concept by opening themselves up for third-party evaluation — a positive sign indicating dedication towards customer-centricity and professionalism.”
It has always been our mission to build some of the finest quality residential projects. Our people come to work every day with that mission in mind. So we are pleased and honored that an independent and reputed firm like Crisil has acknowledged their hard work.
–Mr Raj Bhandari.
Star rating is assigned on the basis of five key parameters:
- Sponsor quality: Developers’ track record (construction, financial strength and ability to complete the project).
- Construction quality: Structural quality, project consultants track record, execution capability and after-sales services
- Legal documentation: Land title, sales agreement, other statutory approvals and clearances
- Financial quality: Viability of the project, developer’s financial strength, accounting quality
- Innovation: project concept, process innovation, building design and construction technology
Launched in 2010 by CRISIL, India’s leading ratings firm, CREST is the undisputed leader in third-party property ratings in India and currently covers over 250 projects at various stages of development; across 46 cities.
ADAM Realty is a USA-India based builder whose team members have developed and managed some of world’s finest projects. ADAM’s mission is to provide the best quality homes and home-living experience, from superior design, material, workmanship and state-of-the-art technology, to the well appointed amenities, property maintenance and services. ADAM’s fully integrated, in-house processes, make homes more affordable than one would expect. ADAM is currently developing three projects in Belgaum, including finished flats, bungalows, plots and serviced apartments ranging from INR 15 lacs to 2 crores.
Bella Vista is a premier gated residential development of nearly 200 flats, bungalows and villas ranging from 800 to 5400 square feet. Located in Nanawadi, 5 minutes from Belgaum Railway, Station, Bella Vista is nestled in greenery from all sides and provides best of infrastructure and amenities, including a well appointed club with gymnasium, swimming pool, game rooms, business center, children’s playgrounds, walking paths, 24X7 security, uninterrupted water supply and electricity back up. Bella Vista Phase I will complete by year-end.
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