Bhubaneswar: The Kingston Business Park, a commercial cum residential project of Kandoi Estates Pvt. Ltd. is awarded four star rating by CRISIL Real Estate Star Ratings (CREST) on 25th March 2015 here at Bhubaneswar. Mr. Anirudh Agarwal, Regional Head of CRISIL Real Estate Ratings Presented the award to Mr. Navin Kumar Kandoi, Director of Kandoi Estates Pvt. Ltd..
Mr. Navin Kumar Kandoi, Director, Kandoi Estates Pvt. Ltd. exultantly expressed “CRISIL rating is the finest rating any project can have. It gives me immense pleasure we have been awarded a 4 Star Rating certificate from an independent rating firm which is acknowledged by all, especially the customers, as the best. The process involved made us aware of the best practices thus providing us the opportunity to improve our performance.”
CRISIL carried out a stringent exercise to evaluate the Kingston Business Park project in various parameters like construction, financial, innovation and legal aspects before awarding the rating as per CREST norms.
CRISIL Real Estate Star Ratings (CREST) provides city-specific all-round assessment of real estate projects, and helps buyers benchmark and identify quality projects within their city. Launched in 2010, CRISIL has evaluated around 300 real estate projects across 50 cities. The ratings addresses two critical needs in the realty sector: improved transparency and objective benchmarking of projects.
“Kingston Business Park” situated at the logistic hub i.e. Manguli, Cuttack is a commercial cum residential project. Office, Home, Showroom and Warehouse all within one boundary finds a perfect solution to time scarcity of the present work life. With a modern and aesthetic outer elevation, the Vastu compliant project offers all basic amenities. It comprises of 84 Units of Office, 94 Units of Flats (88-1BHK & 6-2BHK), 8 Units of Warehouses and 1 Unit of Showroom.
Mr. Anirudh Agarwal, Regional Head – CRISIL Real Estate Ratings, said, “There is a need for enhanced transparency in the real estate sector, which can be achieved through self-regulation by developers. The good news is that we are now seeing developers coming forth and embracing this concept by opening themselves up for third-party evaluation — a positive sign indicating dedication towards customer-centricity and professionalism.”
Jeetu Mohapatra, CEO Orimark, authorised Channel Partners of CRISIL Real Estate Ratings, said “it is a strategically located multi utility project offering space for office, warehouse and residence. It is the need of the hour. Embedded with huge amenities suitable for both the commercial and residential units it is going to offer a unique and most desirable ambiance. Their move to opt for CREST ratings reflects their credibility and assures timely delivery.”