With urbanization at its peak in India, the construction industry has been boosting consistently. While the industry mostly has been fail-safe while ensuring maximum profit for its investors, there were huge inconsistencies as well as a drop in profit in the construction industry during the pandemic. While many of the organizations closed their construction operations, some of the organizations were able to mitigate the drastic impact of the pandemic through proper planning and business models. The Chennai-based organization Amace Projects Private Ltd is one of them.
Started in 1999 by N.Jayaraman, Amace Projects is a Real Estate Solution company that has done various projects such as multi storied residential, high-rise commercial, and IT parks, factories, hotels, institutional buildings, and so on. Known for its professional as well as ethical practice, the firm has handled more projects than any other PMC in Chennai. The firm also has delivered 7 million Square feet of development managed as PMC and has obtained 8 Million Square Feet of pre-construction approvals. A debt-free company that has been profitable since its inception, the firm is currently handling 6 million square feet of projects.
Coming to the services offered, the firm has a gamut of real-estate services to offer to its clients. The mission of the organization is to provide solutions to all facets of real estate without compromising ethics and quality. The services provided by the organization are Project Management Consultancy, Pre-Construction Approvals and Completion Certificate, Project
Feasibility Studies & Advisory, Technical Audit & Due diligence, Quantity Surveying and Cost Management, Land Identification & so on.
While most of the above services are offered by MNC realty companies, Amace Project is the only PMC Company that also takes care of the statutory requirements of the projects, which gives it a distinct advantage over other PMC firms. The firm is also known for its cost optimization which is achieved by splitting the overall scope into multiple contracts, identifying, negotiating, and supplying high-value supplies directly through the client.
Starting with a couple of engineers, Amace Projects presently has an employee strength of around 40 engineers. The majority of the projects done by the firm have been ordered by repeat clients. While the firm has chosen to remain in and around Chennai because of its hesitance towards geographical expansion which might dilute the firm’s services, there have been occasional projects outside the city within Tamilnadu and Karnataka also.
Amace Projects has remained profitable since inception and has remained compliant with all statutory requirements. Some of the prestigious clients of the firm are Aban Construction, ASTA Properties, Bennett & Cole¬man, Cholamandalam Finance, Dadha Pharma, Emaar MGF, K.Raheja Corp, Kochar Homes, Kotak Realty Fund, Marudhar Rocks, MM forgings, Pricol Properties, Puravankara, Polysetty Somasundaram Group, Sohail Bahwan Group, Tablets India, TVS Investments, VVA Group of companies and WS Industries
The firm’s competency in the development regulations and Project Management was tested in full in a multi storied residential development at Vadapalani, Chennai. The land parcels were in 2 parts with a road in between, the property being part of a larger parcel with unauthorized sub-divisions. Being a Joint Development, a lot of leading developers didn’t show interest due to these factors, despite the property being in a prominent residential location.
Amace Projects not only obtained the statutory approvals for the client but also managed the 660 apartment project without any construction delays. Another feather in the firm’s cap was canceling a 7-acre layout approval and reclaiming the OSR and roads back, which was a first of its kind in the state of Tamilnadu. Subsequently, the firm obtained the IT development sanctions for this property for a leading developer from Mumbai.
In terms of plans, the firm is expecting numerous inves¬tors again to invest in real estate as part of a long-term investment. The firm is also planning for strategic tie-ups with like-minded PMC companies to take up projects in diverse locations.
apartment project without any construction delays. An¬other feather in the firm’s cap was canceling a 7-acre layout approval and reclaiming the OSR and roads back, which was a first of its kind in the state of Tamilnadu. Subsequently, the firm obtained the IT development sanctions for this property for a leading developer from Mumbai. In terms of plans, the firm is expecting numerous inves¬tors again to invest in real estate as part of a long-term investment. The firm is also planning for strategic tie-ups with like-minded PMC companies to take up projects in diverse locations.
