Le Virsa

GT Bypass Road, Amritsar

About Le Virsa

The New Concept Gives The Owners The Benefit Of Having

• No Fear Of Encroachments
• No Housekeeping Charges
• Staying In Fully Maintained Star Resort
• Fully Furnished Apartments And Resorts
• Professionally Managed Homes To A Star Ratings
• Prospects Of Good Income /Returns When Not Occupying
• Easy Exit Clause As It Can Be Sold In The Market At Market Price
• Good Appreciation Due To Maintenance By An International Hotel Chain
• The Hni And Nris Neighbourhood In A Niche Lush & Green And Up Market Ambience

The Location

• The Location is an ideal place away from the hustle-bustle of day to day life yet located on a well connectedthe 4 lanes-ring road connecting with Airport and the city. The NRI/ HNI who like to be away from crowds yet close to the Golden Temple and look for a five star life style for a short stay ora long stayis offered by Le Virsa, managedby a Five Star Hotel Chain.

Project Features Area And Future Development

• The Trade being Open to Pakistan a Great Business activity is expected besides religious tourism. The total area is spread over 26 acres and is coming up as a mixed use property. The ambience will be like a resort, The main entrance for the lobby and facilities will be in the front with a front of 90 ft touching the 4 Lane Highway. The front of the project is about 600 ft. Touching the 4-lane Highway.
• The total area of 5.5 acres is dedicated to the hotel serviced apartments and connected services is a continuous area as shown in google map. the area of 2 acres is currently earmarked for the condo suites/hotel service apartments and services. an area of3 acres (on the rightsideof apartments) is available, in addition, for future development for serviced apartments.

Total Built Up Area

• 85 thousands Sq ft for serviced 120 apartments. 50 thousand sq ft for 20 villas Area for common area and front house activities 20 thousand sq ft Can be enhanced if needed. Swimming Pool area with restaurant about 5000 sq ft. Back End Office Operations 6000 sq ft with separate entry.

Current Status Of The Project

• The Serviced Area for front End and Back End - At Designing Stage
• The Serviced Villas – 18 Villas Structures are completed and ready for internal finishing and furnishings.
• Condos / Apartments are ground plus 6 and we have reached 5 levels as far as structures are concerned.
• All Connecting Roads are laid and Internal Roads are ready for final finishing. Street Furniture is being designed . The Lawn is ready at the entrance.

Theme

• Cultural Heritage of Punjab. The lobby will house a cultural library with information on history and culture of Punjab, painting and placards showing details of the tourist destinations like The Golden Temple, The Spot of Great Alexander, Maharani Moran Haveli, Ram Tirath - The Place where Luv and Kush were born, The BSF Retreat, India Gate etc. The tourists will be HNI from Africa, USA, Europe and Indian Sub continent who have limited options currently. We have a plan to thrust the market at International Level and National Level.
• A tourist cabs will be provided with options on daily basis to visit the places in and around. Special early morning visits to be organized for the in house guests.

The Wall Of Fame

• Conference Halls- There will be 1000 persons conference or banquet hall and a mini theatre for cultural shows and movies. A Sprawling Lawn is dedicated to gatherings.
• Other Facilities– The grand lobby and welcome center , swimming pool, gym, children’s play area indoor, 4 cubicles of 4 seats each for one on one business meetings, library.
• Movements Within The Resort- Golf Carts Will Be Provided For All Residents/ Guests For The Movements Within The Premises.
• Number Of Apartments -120 – (One Bhk 689 To 800 Sq Ft =96 Two Bhk 1245 Sq Ft =24 )
• Number Of 3 Bhk Villas–16 Since They Are Connected With The Property They Will Be Offered For Long Stay For Families As Premium Living Villas.
• Specifications- Designer Furniture And Designer Walls, Air-Conditioned Rooms, As Per Approvals For A Five Star Standards.
• The Elevation-It is based on a confluence of heritage and would be having roman andanglo - frenchflavour architecture.the theme in side will also revolve around panjab heritageandculture with continental flavours. Wearetargeting thenri and markets and european in thehni sector.

The tourism industry in Amritsar is the future due to underlying fact of attraction of HNI to Golden Temple and opening of 137 items of trade with Pakistan at Waga border. In addition Amritsar has been declared as heritage city of Punjab by government of Punjab and Department of Tourism of India has sanctioned incentives and funds to promote Amritsar as tourist status destination of India. Most of the international hotel brands have either started work and others are looking at options in Amritsar. Home rental in Amritsar is a relatively lesser known industry and units offer range from individual "bungalows" and apartments to exclusive villas but not professionally managed and operated.

The more exclusive the tourism offering, the better the revenue generation potential becomes for the promoters and for the country, which will in turn result in an increase in volume and quality of employment generation. It is therefore imperative that Le Virsa maintains and grows its 5-Star plus exclusive tourism offering, and this can only happen through professional management of the hotel. This includes regulation to ensure the orderly marketing and management of rentals. To achieve this, Developers have agreed to sign up a franchise agreement with international 5 star Hotel chain.

Owners' Central Room Revenue Pool Account

The rental pool is being set up on a "for profit" basis by the developer, and control of the operation of the rental pool will be managed by the Developer as a Hotel Manager by forming a hotel management company, who is contracting a commercial franchise of an International Hospitality Chain, to operate the rental pool in the best interests of the owners. The remuneration of the operator will be linked to some fixed license fees and the revenue and profitability of the rental pool - a formula that has proved to be highly successful for the hotel industry. The objective is to create a vehicle that will be trusted, used and eventually managed by the Management Company and the owners in the rental pool will get 40% of net room revenue and 60% will retained by the management entity to run the hotel at 5 star levels.

The Net Room Revenue - NRR The Net Room Revnue includes the net revenue income generated from renting of rooms on regular basis minus the franchise fee, Govt taxes and commissions paid to travel agents. An Owners' Central Room Revenue Rental Pool (OCRRR) account will be set up. Each owner will have a share in this pool based on square feet area he or she is holding. 40% from NRR will go to OCRRR. Each owner will get the remuneration from this central pool based on the square feet area held by each owner. A special online software is being developed to have a transparent system where by the owners can log in and see actual sales and total room occupancy linked to online booking system of the hotel. Each owner gets a unique id and a log in id.