Jaipur, Rajasthan
94.1%
Asset CAGR
1.94x
Buying Alpha
14Mos
Vintage
1. The Investment Thesis
"Capturing the "Middle-Market" residential surge in Jaipur through a high-volume, consolidated apartment portfolio."
In 2024, we identified a significant supply-demand mismatch in Jaipur's mid-segment residential market. While individual buyers were struggling with rising interest rates, we utilized a "Property Bank" strategy to consolidate 70 units within the Uday Raj development. Our thesis focused on "Bulk-to-Retail Liquidity"—by securing a large block of inventory at a highly competitive entry point of ₹17 Lac per unit, we were able to offer a standardized, "investment-ready" product to a group of 20 strategic investors. This volume-based approach allowed us to capture the rapid appreciation of the micro-market as the project neared completion and end-user demand intensified.
2. Valuation Bridge
| Line Item | Amount (PER SQ FT) | Notes |
|---|---|---|
| Land & Basic Cost | ₹1,700.00 | Bulk acquisition price of ₹17 Lac per unit (avg 1k sq ft). |
| Technical Construction | ₹125.00 | Oversight of finishing, quality checks, and utility snagging. |
| Approvals & Liaising | ₹65.00 |
| Registry facilitation and portfolio management for 20 investors. |
| Total Cost Basis | ₹1,890.00 | Total capital deployed to secure and manage the unit portfolio. |
| Buying Alpha | ₹1,410.00 | Value added via bulk pricing and market timing. |
| Current Valuation | ₹3,300.00 | Current market valuation based on ₹33 Lac per unit. |
"Uday Raj was as much a management play as it was a real estate play. Coordinating 20 investors for a 70-unit block required a level of transparency and reporting that standard 'Property Bank' assets don't usually demand. Initially, the project faced a minor bottleneck in finishing schedules that threatened to delay our retail exit window. We solved this by taking a more active role in the oversight of the finishing stages, ensuring that the 'Theia-backed' units were prioritized for quality and handover. This proactive management ensured that when the market price hit the ₹33 Lac mark, our inventory was the most 'move-in ready' in the building. It taught us that in high-density residential plays, the exit price is often determined by the quality of the last 10% of the work."
— Ayush Bansal, Managing Director
Execution Timeline
Jan 2024
Portfolio Consolidation
Successfully secured 70 apartments at Uday Raj through a single bulk transaction for 20 investors.
Jun 2024
Asset Standardization
Implemented quality control measures and standardized finishing across all portfolio units.
Oct 2024
End-User Surge
Market sentiment for ready-to-move-in apartments in Jaipur spiked, leading to rapid price appreciation.
Feb 2026
Present Value
Holding position at a current market valuation of ₹33 Lac per unit, representing nearly 100% growth since entry.