Pre-Acquisition Feasibility · WW-SAMPLE-2026
Plot 14B, Sector 43, Gurugram, Haryana 122009 · Delhi NCR
Equity multiple of 1.87× means every ₹1 invested returns ₹1.87. DSCR of 2.14× exceeds the 1.25× lender minimum. All metrics clear institutional hurdle rates (CREDAI NCR 2024 survey).
Plot specifications, regulatory envelope, and building design parameters derived from DTCP Gurugram (Haryana) building code.
Setbacks Applied
Zone: Residential — Plotted Colony (Sector 43). Jurisdiction: DTCP Gurugram (Haryana). Building envelope computation per DTCP Gurugram (Haryana) norms — FAR 1.8× applied to 2,400 sqm yields 46,500 sqft gross floor area. After 70% efficiency ratio: 19,389 sqft sellable.
| Metric | Value | Trend |
|---|---|---|
| Average Selling Rate (Sector 43) | ₹9,200–10,800/sqft | ↑ 12% YoY |
| Inventory (Gurugram overall) | 18,400 units | ↓ 8% from peak |
| Absorption Rate (Sector 40-50) | 72% in 12 months | ↑ improving |
| New Launches (Q1 2026) | 3,200 units | → stable |
| Ready Reckoner Rate (circle rate) | ₹6,500/sqft | ↑ 5% revision |
| Rental Yield (Sector 43) | 2.8–3.4% | → stable |
| Price-to-Income Ratio | 8.2× | ↓ from 9.1× |
| NCR Total Unsold Inventory | 1.42 lakh units | ↓ 15% from 2023 |
Monte Carlo Simulation — Profit Distribution
Strong — 91% of simulations return a profit. Even the P5 worst-case holds at ₹0.86 Cr. Upside P95: ₹8.12 Cr. Based on 50,000 randomised cost overrun, absorption rate, and selling price scenarios.
P5 – P95 Profit Range · 50,000 Simulations
Wide spread of ₹7.26 Cr — high uncertainty. Consider pre-selling units before groundbreaking to lock in revenue.
Low tail risk — only 9% of simulations result in a loss. VaR at ₹0.42 Cr means even the 5th percentile outcome is still profitable.
Profit is most sensitive to Selling Rate (₹/sqft) (₹6.52 Cr swing) and Construction Cost (₹5.08 Cr swing). Focus cost negotiations on these two variables.
| Cost ↓ / Rate → | -20% | -10% | 0% | +10% | +20% |
|---|---|---|---|---|---|
| -20% | 6.2% | 12.8% | 19.4% | 26.0% | 32.6% |
| -10% | 2.1% | 8.7% | 15.3% | 21.9% | 28.5% |
| 0% | -2.0% | 4.6% | 11.2% | 17.8% | 24.4% |
| +10% | -6.1% | 0.5% | 7.1% | 13.7% | 20.3% |
| +20% | -10.2% | -3.6% | 3.0% | 9.6% | 16.2% |
4 of 25 scenarios result in a loss (red cells). Best case: 32.6% margin at −20% cost / +20% rate. Worst case: -10.2% at +20% cost / −20% rate. The base case (outlined) is 11.2%.
Even the downside scenario (25% probability) returns ₹1.94 Cr profit — the project remains viable across all three scenarios. Base case has a 55% probability.
Which input variables most affect your profit? Correlation coefficient (r) from 50,000 Monte Carlo runs. Higher |r| = higher sensitivity.
Most sensitive — 1% rate change shifts profit by ~₹0.18 Cr
Second largest driver — cost overruns directly erode margin
Fixed input — negotiate hard or explore JV to reduce
Delayed sales increase holding cost and reduce IRR
Higher interest erodes profit — explore lower-cost funding
Lower sensitivity — standard 3% allocation is adequate
Approval delays have modest impact if pre-planned
Focus your due diligence on the top 3 drivers: selling rate, construction cost, and land cost. Together they explain >85% of profit variance.
📍 Plot Location
28.4595° N, 77.0266° EMarket Benchmarking — Delhi NCR
Score 81/100 vs JLL Delhi NCR mid-market benchmarks
This project scores in the top quintile for Gurugram Sector 43. Margin of 28.7% exceeds the NCR median of 18%. IRR of 22.4% clears the 18% CREDAI hurdle by a comfortable margin. Construction cost efficiency is average — scope to improve with value engineering. Source: JLL India 2024 / CREDAI NCR Developer Survey 2024.
Cost Breakdown
Largest cost driver: Construction at 48% of total project cost. Construction at 48% — a 10% overrun here directly reduces profit margin.
No high-risk blockers. 3 medium-risk items — all manageable with early action before signing.
| Unit Type | Count | Area (sqft) | Rate (₹/sqft) | Value (₹L) |
|---|---|---|---|---|
| 3BHK Premium | 2 | 1,850 | ₹9,800 | ₹362.6L |
| 3BHK Standard | 2 | 1,620 | ₹9,500 | ₹307.8L |
| 2BHK | 2 | 1,180 | ₹9,200 | ₹217.1L |
| Total | 6 | 9,300 | ₹887.5L |
Floor plan rendering unavailable for this report.
6 Units · 19,389 sqft carpet ·
Open 3D Viewer →| Period | Cash Flow | Cumulative |
|---|---|---|
| Q1–Q2 | ₹-4.20 Cr | ₹-4.20 Cr |
| Q3–Q4 | ₹-5.60 Cr | ₹-9.80 Cr |
| Q5–Q6 | ₹-3.34 Cr | ₹-13.14 Cr |
| Q7 (Sales) | +₹9.21 Cr | ₹-3.93 Cr |
| Q8 (Final) | +₹9.21 Cr | +₹5.28 Cr |
Classic development J-curve: cumulative cash dips to ₹-8.81 Cr (peak capital deployment at month 9) before sales revenue recovers the position. Breakeven occurs around month 15.
| Structure | Dev Share | Land Share | Dev IRR | Risk Profile |
|---|---|---|---|---|
| Pure Sale (Outright) | 100% | 0% | 22.4% | Full developer risk |
| JV 70:30 Revenue Share | 70% | 30% | 28.6% | Shared — lower capital |
| JV 60:40 Area Share | 60% | 40% | 34.1% | Lowest capital outlay |
| Development Management Fee | 15% | 85% | 45% | Fee-only — zero capital risk |
JV 70:30 revenue share offers the best risk-adjusted return (28.6% IRR) with significantly lower capital outlay than outright purchase. Development Management Fee structure yields 45% IRR with zero capital risk — ideal if you can source a landowner willing to pay fees.
Quick flip (1-year) yields highest IRR at 38.2% but carries execution risk. The 2-year base case at 22.4% is the recommended hold period — allows full construction + sales cycle completion.
| Asset | Return | Risk | Liquidity |
|---|---|---|---|
| This Project | 22.4% | High | Low (24 mo lock-in) |
| Fixed Deposit (SBI) | 7.1% | Zero | High |
| Nifty 50 (5Y avg) | 12.8% | Medium | High |
| Gold (5Y avg) | 10.2% | Low | High |
| REIT (Embassy) | 8.5% | Low–Med | High |
| Rental Yield (NCR) | 3.2% | Low | Low |
This project's 22.4% IRR generates 215% more return than a risk-free FD and 75% more than Nifty 50 — compensating for the higher risk and illiquidity.
IGBC Green certification adds +10% to selling rates but only +5% to construction costs, generating a net additional profit of ₹1.24 Cr. Recommend pursuing IGBC Silver at minimum — the cost-benefit ratio is strongly positive.
| Item | Rate | Amount | Note |
|---|---|---|---|
| Stamp Duty (Haryana) | 6% | ₹78.6L | On land transfer value |
| Registration Fee | ₹30,000 | ₹0.30L | Capped under Delhi reg |
| GST on Construction | 5% | ₹31.5L | Under-construction units (no ITC) |
| Income Tax (Developer) | 30%+cess | ₹1.37Cr | On profit, assuming firm/LLP |
| TDS on Sale | 1% | ₹18.4L | Buyer deducts on agreement >₹50L |
| LTCG (if held >2Y) | 12.5% | ₹54.8L | Without indexation (post Budget 2024) |
Consult a CA for final tax structuring. LLP structure may offer pass-through taxation benefits vs company. Section 80-IBA deductions available for affordable housing projects (units < 60 sqm).
| Period | Principal | Interest | Balance |
|---|---|---|---|
| M1–M6 | ₹1.42 Cr | ₹0.46 Cr | ₹7.78 Cr |
| M7–M12 | ₹1.56 Cr | ₹0.38 Cr | ₹6.22 Cr |
| M13–M18 | ₹1.72 Cr | ₹0.22 Cr | ₹4.50 Cr |
| M19–M24 | ₹4.50 Cr | ₹0.10 Cr | ₹0.00 Cr |
| Project | Developer | Units | Price Range | Status |
|---|---|---|---|---|
Sobha City Phase 2 1.2 km | Sobha Ltd | 420 | ₹9,200–11,500/sqft | Under Construction |
Godrej Aria 2.1 km | Godrej Properties | 180 | ₹10,800–13,200/sqft | Nearing Completion |
Vatika Turning Point 0.8 km | Vatika Group | 310 | ₹7,800–9,400/sqft | Launched |
BPTP Terra 3.4 km | BPTP Ltd | 540 | ₹6,500–8,200/sqft | Under Construction |
Emaar Palm Heights 1.8 km | Emaar India | 260 | ₹11,000–14,000/sqft | Possession Due |
5 competing projects within 4 km radius offering 1,710 total units. Your selling rate of ₹9,500/sqft is competitively positioned in the mid-market segment.
| Location | Type | Area | Rate | Date |
|---|---|---|---|---|
| Plot 22, Sector 43, Gurugram | 3BHK | 1,620 sqft | ₹9,200 | Mar 2026 |
| Tower B, Sector 42, Gurugram | 3BHK | 1,850 sqft | ₹9,800 | Feb 2026 |
| Floor 4, Sector 43, Gurugram | 2BHK | 1,180 sqft | ₹8,900 | Jan 2026 |
| Plot 8A, Sector 45, Gurugram | 3BHK | 1,920 sqft | ₹10,200 | Jan 2026 |
| DLF Phase 4, Gurugram | 4BHK | 2,100 sqft | ₹11,500 | Dec 2025 |
| Sohna Road, Sector 47, Gurugram | 2BHK | 1,050 sqft | ₹7,800 | Nov 2025 |
Average transacted rate: ₹9,567/sqft across 6 registered transactions. Your assumed rate of ₹9,500/sqft is in line with recent market evidence.
| Approval | Authority | Timeline | Status | Fee |
|---|---|---|---|---|
| DTCP Building Plan | DTCP Gurugram | 45–60 days | Required | ₹3.2L |
| Environmental Clearance | HSPCB | 30 days | Required | ₹0.5L |
| Fire NOC | Fire Department | 21 days | Required | ₹0.8L |
| HRERA Registration | HRERA Gurugram | 30 days | Mandatory | ₹2.1L |
| Water & Sewer Connection | GMDA | 14 days | Required | ₹1.2L |
| Electricity Connection | DHBVN | 21 days | Required | ₹0.6L |
| Completion Certificate | DTCP Gurugram | Post-completion | Required | ₹1.5L |
| Occupation Certificate | DTCP Gurugram | Post-completion | Required | ₹0.8L |
Total statutory fees: ₹10.7L. HRERA registration is mandatory for projects with 8+ units or land area > 500 sqm. Budget 4–6 months for all approvals if applied in parallel.
| Category | Specification | Reference |
|---|---|---|
| Concrete Grade | M30 (columns/beams), M25 (slabs), M20 (foundations) | IS 456:2000 |
| Steel — TMT Bars | Fe 500D CRS (corrosion-resistant), 85 kg/sqm avg | IS 1786:2008 |
| RCC Design | Limit State Method, seismic Zone IV | IS 1893:2016 |
| Brickwork | AAC blocks (600×200×200mm), density 550 kg/m³ | IS 2185:2005 |
| Plumbing | CPVC (hot), uPVC (cold), SWR for drainage | IS 15778:2007 |
| Electrical | FR PVC copper wiring, MCB distribution, modular switches | IS 694:2010 |
| Fire Safety | 2-hour fire-rated structure, wet riser, smoke detectors | NBC 2016 Part 4 |
| Waterproofing | APP membrane (terrace), integral crystalline (basement) | IS 3067:1988 |
Commission a full title search (30-year chain) and encumbrance certificate from a local advocate. Verify no litigation pending on the plot.
Get geotechnical investigation done. Sector 43 has mixed soil — bearing capacity test critical for structural design.
File building plan with DTCP Gurugram. Current FAR 1.8× is approved for the zone. Include fire NOC application in parallel.
Based on JV analysis, 70:30 revenue share offers 28.6% IRR with lower capital exposure. Negotiate with landowner.
Shortlist 3 PMCs with Gurugram group housing experience. Brief architect on 6-unit layout with 2BHK+3BHK mix.
Start channel partner outreach and digital marketing. Target NRI Gurugram buyers via LinkedIn + WhatsApp groups.
Register project with HRERA (Haryana RERA). Threshold: 8+ units or >500 sqm. This project triggers RERA.
Break ground after DTCP approval + RERA registration. Target structural completion in 18 months.
Unit-by-unit revenue breakdown. Rates validated against RERA-registered transactions and listed comparables.
| Line Item | Qty | Rate | Amount |
|---|---|---|---|
| 3BHK Premium (2 units × 1,850 sqft) | 3,700 sqft | ₹9,800/sqft | ₹3.63 Cr |
| 3BHK Standard (2 units × 1,620 sqft) | 3,240 sqft | ₹9,500/sqft | ₹3.08 Cr |
| 2BHK Compact (2 units × 1,180 sqft) | 2,360 sqft | ₹9,200/sqft | ₹2.17 Cr |
| Car Parking (6 covered + 6 open) | 12 slots | ₹3.5L / ₹1.5L | ₹0.30 Cr |
| Club House Contribution | 6 units | ₹2.0L/unit | ₹0.12 Cr |
| Preferential Location Charges (PLC) | 2 corner units | ₹150/sqft | ₹0.10 Cr |
| Power Backup Charges | 6 units | ₹1.5L/unit | ₹0.09 Cr |
| Total Gross Revenue | ₹18.42 Cr | ||
14-line itemised cost breakdown. Each line traceable to a published reference or market quote.
| Cost Item | Amount (Cr) | % of Total | Source |
|---|---|---|---|
| Land Acquisition (2,400 sqm) | ₹4.07 | 31.0% | Circle rate + negotiated premium |
| Stamp Duty + Registration | ₹0.33 | 2.5% | 6% stamp + ₹30K registration (Haryana) |
| Construction — RCC Structure | ₹3.15 | 24.0% | CPWD DSR 2024 @ ₹1,325/sqft |
| Construction — Finishing & MEP | ₹1.89 | 14.4% | CPWD DSR 2024 @ ₹795/sqft |
| Construction — External Development | ₹0.63 | 4.8% | Roads, drainage, landscaping |
| Construction — Lift & Services | ₹0.63 | 4.8% | 2 lifts + DG + STP |
| Architectural & Structural Design | ₹0.18 | 1.4% | 1.5% of construction cost |
| PMC Fees | ₹0.15 | 1.1% | 2.5% of construction cost |
| Marketing & Sales | ₹0.55 | 4.2% | 3% of revenue — channel partners + digital |
| Legal & Documentation | ₹0.12 | 0.9% | Title due diligence, agreements, RERA |
| Finance Cost (10.5% p.a.) | ₹1.16 | 8.8% | ₹9.2 Cr @ 10.5% for 24 months |
| GST on Construction (5%) | ₹0.32 | 2.4% | Under-construction units, no ITC |
| Statutory Charges & EDC/IDC | ₹0.53 | 4.0% | DTCP charges, HUDA EDC, fire NOC |
| Contingency (3%) | ₹0.43 | 3.3% | Standard buffer for unforeseen costs |
| Total Project Cost | ₹13.14 | 100% |
| Item | Rate | Amount | Payable By |
|---|---|---|---|
| Stamp Duty (Haryana) | 6% of deed value | ₹24.42L | Buyer (conveyance) |
| Registration Fee | Flat ₹30,000 (capped) | ₹0.30L | Buyer |
| Stamp Duty on Agreement to Sell | ₹100 (nominal) | ₹0.001L | Both parties |
| Stamp Duty on GPA (if JV) | 3% of circle rate value | ₹12.21L | Developer |
| Notarization Charges | ₹500–₹1,000 per document | ₹0.05L | Developer |
These are the exact values submitted. Every calculation in this report flows from these inputs. If any input is incorrect, the entire model shifts.
If any of the above inputs are incorrect, email corrections@whitewarp.in for a free re-run.
Transparency on what we checked and what remains your responsibility.
5 of 10 items validated. 5 items require independent verification before proceeding.
Full audit trail. Every calculation is traceable to a published source. Open inspection — we welcome scrutiny.
Plot location, area (2,400 sqm), road width (18m), land cost (₹4.07 Cr), selling rate (₹9,500/sqft), construction spec (mid), timeline (24 months), finance rate (10.5%).
Source: User-submitted form
Applied Haryana Building Code 2017 + MPD 2021-41. FAR 1.80× on 2,400 sqm plot yields GFA 4,320 sqm (46,500 sqft). Setbacks: front 9m (18m road), side 3m, rear 3m. Buildable footprint: 1,680 sqm. Ground coverage: 70%.
Source: DTCP Gurugram / HBCC 2017
Base construction ₹2,650/sqft (mid-spec). Total construction: ₹6.30 Cr. Land + stamp duty: ₹4.07 Cr. Marketing (3%): ₹0.55 Cr. Professional fees (2.5%): ₹0.33 Cr. Finance cost: ₹1.16 Cr. Statutory: ₹0.53 Cr. Total all-in: ₹13.14 Cr.
Source: CPWD Delhi Schedule of Rates 2024
6 units: 4× 3BHK (avg 1,735 sqft @ ₹9,650/sqft) + 2× 2BHK (1,180 sqft @ ₹9,200/sqft). Total sellable: 19,389 sqft. Gross revenue: ₹18.42 Cr. Revenue/sqft weighted average: ₹9,500.
Source: RERA-registered comps / MagicBricks / 99acres
Monthly cashflow model over 24 months. Land cost at M0, construction phased M1–M18, sales revenue M12–M24 (50% pre-sold, 50% post-completion). IRR solved via Newton-Raphson iterative method. True project IRR: 22.4% p.a. Equity IRR (70% LTV): 31.4%.
Source: Standard DCF methodology
Stochastic inputs: construction cost (±15%, normal), selling rate (±20%, normal), absorption rate (±6 months, uniform), timeline overrun (0–6 months, triangular). Correlated via Cholesky decomposition (rate-cost ρ = -0.3). Output: profit distribution → P5 ₹0.86 Cr, P50 ₹4.38 Cr, P95 ₹8.12 Cr. P(profit > 0) = 91%.
Source: Proprietary MC engine, 50,000 iterations
Revenue ₹18.42 Cr − Total Cost ₹13.14 Cr = Deterministic Profit ₹5.28 Cr (margin 28.7%). P50 Monte Carlo profit ₹4.38 Cr accounts for variance in inputs. Variance: σ² = Σ(xᵢ − μ)² / N across 50,000 runs.
Source: Aggregated computation
Known Limitations
Found an error? We pay ₹5,000 for every verified correction. Email: corrections@whitewarp.in
Report prepared by: White Warp Analytics Engine v3.0 · COA No. CA/2018/102736 · whitewarp.in
Issued 5 May 2026 · Reference WW-SAMPLE-2026 · 50,000 Monte Carlo iterations · DTCP Gurugram (Haryana) jurisdiction
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White Warp · whitewarp.in · COA No. CA/2018/102736