KATHMANDU, June 24
The first luxurious high-end apartment project in Nepal -- Park View Horizons undertaken by Varun Developers, a sister concern of RJ Corp -- is near completion.
About 80 percent of the construction works of the mega housing project has already been completed. "The structure is already complete. We are going through the plastering and finishing tasks," said Dilip Neupane, general manager of sales and marketing at Varun Developers.
This milestone housing project compromises of 212 units, which is a combination of penthouses, duplexes and single floor apartments. Almost 80 percent of the units have already been booked. The remaining units consists of duplexes and two to four bedroom single floor apartments.
The project is sprawled over 30 ropanis in Dhapasi, Kathmandu and boasts of 70 percent open space.
This mega housing project comes with posh amenities like jogging tracks, centrally heated and air-conditioned rooms, world class club with Jacuzzi and gymnasium, separate swimming pools for adults and kids, tennis courts, kid´s zone, multi-level parking and barbeque for private parties, RO water treatment plant, among others.
The developers have professionals and high-value customers who want lavish lifestyle in Kathmandu. They estimate that about 60 percent of their current customers are families. The rest are either business groups or non-government agencies who want to use the apartments as guest houses for their frequent foreign guests.
"Our apartments are a better investment for this segment rather than keeping their guests in hotels as they have frequent guests who stay for a considerable amount of time," Neupane informed. He further added that Park View matches top hotels in Kathmandu in terms of facilities.
Some investors have also invested in Park View apartments as apartment hotels which they will lease for their paying guests.
The luxurious lifestyle, however, does not come cheap. Two bedroom (BR) apartments ranging from 1,566 to 1,983 sq.ft. are priced between Rs 11.9 million and Rs 15.2 million.
Similarly, three BR apartments ranging from 1887.09 to 2794 sq.ft. cost between Rs 14.4 million to Rs 21.4 million and four BR apartments covering 2659 sq.ft. are available at Rs 20.3 million. Three BR duplexes covering 3305 sq.ft. costs Rs 25.3 million.
"Although we are not giving discount on prices, we are open to negotiations with customers who are interested in our apartments," Neupane said. "Though all housing projects profess to have earthquake resistant structure, we have paid special attention to structural safety."
Park View Horizons is the first housing project to get clearance from Ministry of Environment, Science and Technology, Neupane added.
Apartment living, which is fairly a new concept in Kathmandu, is gaining much acceptance as it caters to the increasingly busy lifestyles of Kathmanduites. It provides security and peace of mind as one does not have to worry about maintenance, managing various utility bills or leaving their apartment for considerable amount of time.
Although Park View Horizons is the first one for Varun Developers, RJ Corp -- one of the most dynamic conglomerates in India -- has immense experience with real estate sector in various countries.