Panchshil signs brand licensing for premium residential projects
The Pune based real estate developer firm signed the agreement with another real estate Pune based developer Elite Landmarks to construct medium size apartments in Pune. As per the Panchshil this is first of its kind brand licensing in India.
The Panchshil under its brand licensing division will be lending its brand, its architectural and marketing expertise to Elite Landmarks for its new project which would known as the ‘Elite Residences which is inspired by the Panchshil’ and is priced at Rs 12,000 per sq feet.
Mr. Atul Chordia, chairman, Panchshil Realt, says that following the current market trends they decided to enter in to medium size residential projects. The ratio of their commercial- residential development is 80:20, but in future they will give more importance to residential developments. They have collaborated with some of world’s famous brands to create life style.
The Elite shall be allowed to use the word and mark ‘Panchshil’ for the limited purpose of marketing, promotion, advertising and sales. Except this The Panchshil will also be lending its expertise for the best use recommendation for the project site, master planning of the project, recommendation of consultants and involvement in finalization of designs and also in mechanical electrical and plumbing work, material specifications and in the development of overall quality standards.
Mr. Chordia further says that the Brand partnership and licensing is the only way in front of them. By this model they will connect with developers to develop luxury residential projects by giving design and architectural support. They will work with so many developers using this model.
Source: The Business Standard
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