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Investment Pack . . . . . $5000
Expression of Interest for Investment
Shri Hanuman Youth Centre Project – Funding
The Land
It is
anticipated to buy a 61,050 m2 piece of land at 221 Jesmond Rd, Karaka,
Auckland. The land is fully consented for 182 lots and houses.
The
Project
The plan is
to build the following
a.
Shri
Hanuman Ji Youth Centre with 40 ft Shri Hanuman Ji on the building. It will
comprise two levels with each floor being 1,500 m2.
b. 200 Apartment Retirement Village
c.
40
Room Elderly Care Centre
d. 30-room Dormitory to accommodate 100
youths.
e.
100
residential sections
Ownership
The entire
property will be an entity of the Hindu Council of New Zealand (HCNZ). The
residential sections will be sold and the rest of the properties will remain to
be owned by HCNZ.
Risks
a.
The
wastewater and water lines are about 250m away from the property. Although the
council is also responsible for obtaining the line, we may have to contribute.
We can also have modern-day septic treatment on site.
b. Timeline for consenting. As we will
be changing the use, we will need to reapply. There is a fast-track method for
such projects, and we will explore it.
c.
We
may not get permission to put up a 40 Ft Statue. But I am very hopeful.
Funding
The plan is
to get the land collateral-free. Hence we will need to raise approximately $16m.
An Organisation called 'Vanar Sena' will be formed and all the investors will
be the company's shareholders. The company will have 3 well-respected Directors
to look after the interests of the investors. The company will lend the funds
to HCNZ Trust as a second mortgage. This will allow us to borrow for
development.
The
directors will attend all Project Control Group (PCG) meetings to protect its
investors.
The
remaining funding will be available from a bank or second-tier finance company.
Investors'
Return and Terms
We will be
required to raise NZ$16.5 m. We will give an interest of 10% per annum and the
interest will be paid out monthly. We
will require the funds for 5 years or less. 3,300 packages of $5,000 will need
to be raised.
Surplus
There
will be a surplus of more than $30m once all the residential sections and all
the apartments are sold. There is a huge buffer for the investors.
Shri Hanuman Youth Centre Project – Details
The Management
- The Property will be under the Hindu Council of NZ trust. The trustees are Dr Guna Magesan, Dr Vinay Karanam and Vinod Kumar.
- Govardhan Mallela, the director of
TAS NZ Limited, will provide accounting services, and Bharat Parshotam of
Parshotam Lawyers will provide legal services.
- Vanar Sena Limited with two
directors will be the holders of all the shareholders' funds.
- Vanar Sena Limited will advance funds to HCNZ
Trust to purchase the land as well as use the balance of funds to pay dividends
and for project-related costs.
- HCNZ
Trust will give a second mortgage over the property.
- HCNZ
Trust will be borrowing the rest of the funds from the bank or other finance
companies but not without the agreement from the Directors of Vanar Sena
Limited.
- The project is anticipated to take 4
years to complete.
History of the Land
A. The land was purchased for $19.8m
about 3 years ago and lots of consenting work has already been done. It
has Resource Consent and subdivision
consent. Bayleys valued it at $22.2 m only a year ago. We will be paying $14.5
m.
B. The current Resource Consent is for
182 houses yielding a surplus of more than $70 m.
Funding
We want you
to invest for future generations. All your invested money will be returned to
you in less than 5 years with an interest of 10% per annum.
One can invest in multiples of $5,000. We need to raise $16.5 m or sell 3,300 parcels for $5,000 each.
FAQs on Investment Pack
Yes, you can invest in multiples of $5000, that is 3 packs amounting to $15,000.
10% per annum returns paid out monthly.
Yes, however, the interest rate would still be 10% per annum, paid out annually to you as per your convenience.
Sorry, no. The minimum amount to invest is 1 pack valued at $5000.
Yes, you can opt to get your principal back after 2 years. Two Years is the lock-in period.
Yes, two (2) years. You can opt to get your principal back after 2 years.
Generally speaking, No. However, on case to case basis, we shall review your request and allow to withdraw your principal amount.
Four (4 months) from the date of investment (rounded to its nearest month end). We shall return your investment in full in case the amount is not invested in the any of the ongoing or planned project.
Yes, we pay you 2% per annum returns for the invested duration time.
FAQs on Shri Hanuman Youth Centre
This will allow us to obtain further funding to develop the property. Other funders will always require a first mortgage.
All the decisions on further funding will only be obtained after approval from the directors of Vanar Sena Limited. The project will leave a huge profit as well as the four structures as assets of HCNZ. Hence the risk is very low..
There is consent already and hence the groundwork will start immediately.
We will be asking for a fast-track method from the Council. Yes, all the structures will need to be designed and passed by the council. While the residential houses will start within 9 months.
We will immediately apply for Resource consent and ask for the environmental court hearing and then we need to pray.
The directors of Vanar Sena Limited will need to attend monthly PCG (Project Control Group) meetings, which will have a full say on the project and will do monthly reporting.
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