Project Profile
Type of project Residential
Location of project Gomti Nagar Extension Type of development Joint Development Start date of project April 2015
Possession committed to customer
as per sale agreement 48 months from date of launch Total saleable area 1.904 Million square feet (Sq. ft.) Percentage of physical completion
as on September 2015 5 per cent
Sponsor Profile
Name of the project Paarth Arka
Name & address of the company developing the project
M/s. Paarth Infrabuild Pvt. Ltd., Ground Floor, Plot No. 73,
Pataparganj Industrial Area, Delhi - 110092 Name of the developer group Paarth Infrabuild Pvt Ltd
Track record in years 9
Projects developed till date Nil
Ongoing projects 2 (2.98 million sq ft)
Project Rating Drivers
• Project construction quality and amenities
o Structural quality: The structural quality of the project is backed by the sound track record of the architect (Hafeez Contractor) and fair track record of in-house structural consultants1. The project has been designed in conformance with seismic zone III requirements.
o Amenities: Amenities will include billiards room, swimming pool, banquet, gymnasium, power back-up, kids’ play area, jogging track, and crèche.
o Location – The project is located in Gomti Nagar Extension close to Shaheed Path in Lucknow (Uttar Pradesh). It is 17 kilometres (km) from the airport, 12 km from Hazratganj (city centre), 12 km from Lucknow railway station.
• Project legal quality – The legal quality of the project is backed by clear and marketable land titles, free from encumbrances as certified by legal advisor, Mr. Sarvesh Kumar Gupta. The title search for the land was conducted for 12 years.
• Project financial quality – The project has a moderate financial quality with initial funding being made through promoters’ capital, followed subsequently by customer advances. The developer does not intend to rely on project funding.
• Project sponsor quality – Mr. Pradeep Misra, one of the promoters of the company, has experience of 23 years through Rudrabhishek Enterprises Pvt Ltd (REPL), a real estate consulting company set up by him in 1992. REPL provides services in urban planning, architecture, civic services planning, geographical information system, engineering, strategic consulting, and project management services. It is the project consultant for Paarth Arka.
However, Paarth Infrabuild Pvt Ltd has no development track record in the real estate market.
Currently, it is focusing on two residential group housing projects — a hotel/service apartment project and a township project comprising residential and mixed land use in Lucknow.
1 The initial structural consultant, Chordia Engineering Consultancy Services, is no longer associated with the project.
Paarth Arka
Current rating: Lucknow 4 Star (Re-affirmed in October 2015)
Earlier rating: Lucknow 4 Star (Assigned in May 2014)
Project Photographs (As on October 2015)
Tower 1 Tower 2
Tower 3 Tower 4
Tower 5
