Indivaraa-Our Philosophy:
A simple Google search will reveal ample evidence regarding the future of tourism and travel in India. With improved road networks and increased frequency of air and rail travel, coupled with the rise of hybrid work environments, there is an unprecedented demand for “home away from home” experiences. Indivaraa has evolved to meet this demand by creating spaces that are well-ventilated and tailored to various needs—from midnight Maggie cravings to early morning swims and workouts. Each room is designed as a studio unit to ensure that even long-term guests feel comfortable and refreshed.
Indivaraa Leisure: Our goal is to transform the road less traveled into a delightful experience. We carefully select destinations that are not only established tourist spots but also hold significant potential for growth. In recent years, many popular tourist destinations in India have experienced rapid development, leading to a surge in hotel offerings. However, these locations often struggle to keep up with the evolving trends and demands of millennial and Gen Z travelers. For example, there is a growing need for amenities such as electric vehicle charging stations, ample play spaces for children, and well-maintained health and wellness facilities like gyms and pools.
(SAI – Shiv Anand Isiri): This place is named in honor of Shri Shiv Anand, the late grandfather of our friend and the previous owner. Shri Shiv Anand was a noble man who made significant contributions to elevating education standards in the region. His legacy of dedication and commitment to educational advancement continues to inspire us.
Access:
Our property is conveniently located on National Highway (NH169 A), near the business districts of Manipal and Udupi. While it’s close to these bustling areas, it remains a serene retreat, offering a peaceful escape from the noise and hustle. A few extra minutes of travel are well worth the tranquility you’ll find here.
What can you do here?
The land on which this property is situated belongs to the family of the late Shri Shiv Anand. Once all necessary permissions are obtained, we will provide a legal opinion on the title. Teramor Developers have entered into a joint development agreement with the landowners to develop a commercial hotel on the premises, with a proposal to share the built-up area.
The shares of the developers and landowners are clearly defined on a unit-wise basis in the Joint Development Agreement (JDA). Both parties have agreed to lease the entire property to Teramor for management purposes.
The land has been commercially approved, and all building permissions have been obtained in accordance with the hotel building norms. While we are working towards achieving a 5-star rating for our facility, it is prudent to anticipate that the property will meet at least 3-star standards.
This property will be RERA-approved, and all funds will be channeled exclusively through RERA-designated bank accounts. No funds will be collected before obtaining RERA approvals.
We will seek loan approval from scheduled commercial banks for the property purchase once all permissions are secured. However, given the unique nature of this project, we are unable to provide a definitive confirmation at this time.
We plan to complete the construction of the property within 18 months from the commencement date.
We recognize that delays in construction and operations are possible and may not always be within the developers’ control. Despite any such delays, we will be disbursing ₹15,000 per month for 24 months, beginning in April 2026. This extended period is designed to ensure that the developer remains motivated to expedite the project.
We will retain at least 25% of the units, along with the commercial space designated for the restaurant and common activities. This strategy will serve as a pressure point to incentivize the developer to adhere to the project timelines.
Fifteen Equated Monthly Installments of ₹2,00,000 each will commence in October 2024, contingent upon the receipt of all necessary permissions. All payments should be directed to RERA-designated accounts. In addition, a 5% GST and registration charges at the time of property purchase will be the only additional costs.
We will enter into an Agreement of Sale (AOS) upon receipt of the initial payment from the customer. The AOS will document all commitments made by the developer. Once the occupancy certificate is obtained, the unit will be registered in the customer’s name. Simultaneously, a lease deed will be executed to safeguard both parties’ interests.
A three-month moratorium will follow the final instalment. Beginning in the 19th month after the initial payment, ₹15,000 will be credited monthly to the customer’s pre-agreed account for the subsequent 24 months. Revenue sharing will then start, 42 months from the date of the first payment.
This timeframe accounts for potential delays in construction, the receipt of occupancy and other mandatory clearances, as well as the time required for operational stabilization. It also considers the need for extensive promotional campaigns to establish a market presence for the property. However, the company commits to revisiting this stance if the property achieves a sustained occupancy rate of 70% or higher for six consecutive months, which will offset the promotional and campaign costs.
The property we are offering can reasonably command a rent of ₹5,000. Currently, the occupancy rate in the Manipal/Udupi region is 60%. Given this, the monthly payout is expected to be slightly over ₹50,000. Please use the calculator below to explore different payout scenarios.
An amount of ₹15,000 will be paid on the 5th of each month. Occupancy-based calculations will be conducted quarterly, on June 30th, September 30th, December 31st, and March 31st each year. Any adjustments to the amounts will be settled on July 5th, October 5th, January 5th, and March 31st, respectively.
For example based on occupancy, at room rent priced at Rs 4500, the payable amounts are as follows:
We propose to offer a property buyback guarantee. After 24 months from the initial payment, you may initiate the sale of the property by notifying us via email. The company will then repurchase the property within 90 days of receiving your notification.
Valuation: The buyback price will be the greater of 20% of the invested amount (i.e., ₹36.0 lakhs) or 10% above the market value of the property. The market value can be determined by any SBI panel valuer.
We will assess the payment capacity of each individual in advance to mitigate the risk of default. However, in the event of unforeseen circumstances, we will refund the total amount paid, without any deductions, within six months from the date of the first default.
We are relying on the following factors to ensure the successful delivery of the project:
Our Regional Director overseeing the project, Mr. Sharan Shetty, holds a postgraduate degree in Tourism and Hospitality Management from New Zealand and has hands-on experience in establishing a prominent pub and brewery in Mangalore. Additionally, two senior management members bring over a decade of experience in the hospitality industry.
While we do not plan to enter into any corporate tie-ups for the hotel to ensure better returns for investors, we remain open to exploring lucrative management offers, should they arise, with mutual consent.
The size and design of our units will be one of the property’s major highlights. Each unit features a thoughtfully designed layout that includes a living area, bedroom, and a balcony, ensuring both comfort and style.
Our property boasts a range of premium amenities, including a rooftop swimming pool, an elegant banquet hall, and a state-of-the-art gymnasium. We are also future-ready with over 20 EV charging points to support modern mobility.
Additionally, we offer a sprawling 10,000+ sq. ft. activity-themed restaurant tailored to the university crowd, along with exclusive children’s play areas. These unique features make our property truly stand out from the rest.