At the outset I would like to thank you for your passion to save our heritage homes. It’s been 2 weeks, and only handful has expressed their interest in this project. I was expecting good response from the NRG's in particular but it did not happen. However, I’m still optimistic by passage of time the response will get bigger and better. Frankly, I am still getting responses and I hope we should have enough numbers on board in time to Get-Set-Go.
As I said in my initial message, this project is People Partnership Project (PPP) and hence everyone contribution is important to make this truly community project. Besides, Finance, we need expertise from individual like Architect, Curator, Engineer, Hospitality Manager, local famer etc.
The essence of this concept is authentic Goan like dress code for staff Goan traditional clothes, food or cuisine only authentic Goan, Water source only well water, Etc.
But to give head start to this project at this stage we need;
a) Individual who can invest minimum 5 lakhs (minimum 5 years*)
b) Property owners ready to lease property
We will need minimum investment of Rs 2 crores. Rs 1 crore could be used for renovation and refurbishing property to convert into as a hotel property. The balance Rs 1 crore will kept aside for staff salaries and future monetary needs. To make a small beginning we will need 2-4 properties on lease for 25-30 years period with rights to buy if the owner opts to sell the property after the lease expiry
Investors will be equal partners along with the ancestral homes owners. Architect, engineer, Curators are welcome to join. Their services will be compensated with sweet equity and not in cash.
As the world revolves around money, it is important to make this project economical viable which will ensure survival of our heritage homes and profits to the all stake holders. The return on investment or turnaround of profits on investment is approximately between 3-4 years. The profits will be shared as per share equity of stake holders/investors. Property owner profit ratio will be as equity share and will be based on the property valuation at the time of lease agreement.
Current estimate annual revenue on a 4 room property is approx. Rs 18 lakhs to 20 Lakhs @ Rs 1500 ($35) per room night (Rs 1500 X 300 days room occupancy). Deducting property maintenances and staff salaries (40%) the profit will be around 10 lakhs per annum (60%)**.
As a potential stake holder, kindly provide following data.
1Full name
2Current Nationality
3Current residence
4Your Ancestral place in Goa
5Are you Investor?
6If yes, your investment commitment (in lakhs)
7***Are you property owner?
8If yes, location of property
9Additional information of property (No’s of rooms, total house area, plot area, estimate value of the property).
10Contact information
11 Telephone:
12Email ID
The above information will remain confidential and would not be disclosed to any other person or entity.
After collating above data and once we have required number of investor/property owners on board with firm commitment I will circulate general message with all in copy to take it to next level.
In interim, I would request your help to get more people on board by discussing this project with your friends or family members. Together Everyone Achieve More. Please feel free to discuss/suggest ideas to make this economical viable project which will help save our ancestral properties. Only catch: Goa Centric ideas within Goan traditions ambit.
Warm regards,
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