‘Wegmans Business Park Phase-I’ by WIPL
RATED NCR 7-STAR BY CARE RATINGS
About the Project
‘Wegmans Business Park Phase-I’ is a commercial real estate project developed by Wegmans Industries Private Limited (WIPL). Located in Greater Noida, the project is well-connected via roads and is just 3 km from the Delhi-Noida Expressway. The project is an IT park with a 5-floored structure offering a saleable/leasable area of 3.13 lakh sq. ft. and has various amenities required for grade ‘A’ office space. At present, it houses reputed companies like LG, Samtel, Sasken and Ebay as its tenants. The construction of the building was completed in September 2009.
Project Star Rating Rationale
Developer Profile
Promoted by SK Gupta, WIPL was incorporated in 1992 and is a NCR-based real estate development company. The group largely focuses in the Noida/ Greater Noida region and has so far completed 5 projects – 4 commercial & a hotel – aggregating a developable area of 4.73 lakh sq. ft. till July 2013. The group also has interests in financial services, commodity trading and agro-based businesses.
Construction Quality of the Project
WIPL had hired the reputed Feedback Infra Services P Ltd (formerly Feedback Ventures) as the Project
Management Consultants (PMC). The principal architect of the project was a well-known Mumbai-based firm,
Hafeez Contractor. Delhi-based Sun Nirman Infrastructure was the civil contractor for the project. The project
provides various amenities such as 100% power back-up, food & beverages outlet, glass elevators, central air
conditioning, water fountains and open and covered car parking. The operation and management of the office
space is being done by the company.
Legal Aspects of the Project
The title of the land is clear as the same has been acquired by the developer from the Greater Noida Industrial
Development Authority (GNIDA) through lease agreement (dated February 14, 2005) for 90 years. The project layout is approved by GNIDA and the company has received all requisite approvals. The project has an available FSI of 1.25x and has been constructed accordingly.
Financial Details of the Project
The project was completed at a total cost of Rs.65 crore. The company funded the construction from term debt
(Rs.22 crore), promoter funds (Rs.4 crore) and balance from customer advances. The company had launched the
project with time-linked and construction-linked plans.
Other Key Highlights of the Project
100% Power back up
24/7 security service
High speed glass elevators
High speed internet access, satellite connectivity & international leased circuits
Centrally air conditioning
Large open spaces and landscaping
About the Contractors of the Project
Architects: The principal architect of the project was a well-known Mumbai-based firm, Hafeez Contractor, which was established in 1982 and has worked on commercial projects like DLF Infinity (Gurgaon), DLF Gateway Tower (Gurgaon), Delta Square Nairobi (Mumbai), DB Corporate House (Mumbai), Bhari Airtel (Gurgaon), IF&LS Corporate Office (Mumbai), etc.
Project Management Consultants: WIPL hired reputed Gurgaon-based Feedback Infra Services P Ltd (formerly Feedback Ventures) as PMC. Feedback is a reputed integrated infrastructure services company.
Structural and Mechanical, Electrical and Plumbing (MEP) Consultants: Delhi-based Sun Nirman Infrastructure was the structural consultant for the project. Incorporated in 2007, Sun Nirman is engaged in undertaking civil construction projects and the firm has completed more than 20 projects. WIPL appointed Sanelac Consultants Pvt Ltd as MEP consultants. Having more than 25 years of experience, Sanelac is a leading provider of services related to heating, ventilation, and air conditioning (HVAC) and industrial ventilation systems.
Civil Engineers: Sun Nirman Infrastructure Pvt Ltd was the civil contractor for the project. Incorporated in 2007, Delhi-based Sun Nirman is engaged in undertaking civil construction projects and has executed projects for reputed organizations such as South Asia Breweries, The French Consulate, NIIT, Realtech Group, etc.
