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Aliens Group is a privately held Indian real estate and construction company founded in 2004 and headquartered in Hyderabad, Telangana. It also has a group of companies such as Aliens Infra Tech Pvt Ltd and Aliens Developers.[1]
The company has received the Asia Pacific Property Awards under two categories for its project- Apartment for Aliens Space Station and Mixed-Use Development for Aliens Space Station at the International Property Awards 2012.[2]
History
Aliens Group was founded in 2004 by Hari Challa and Venkat Challa.[1] Its projects include Aliens Space Station, a residential skyscraper in Gachibowli, Hyderabad; at Template:Convert, it is currently tallest brick mortar structure, and will be amongst top ten or twenty buildings in when completed fifth-tallest building in the city.[3] The company's notable projects include Aliens Valley, Aliens Elite and Aliens Hub.[4][5]
Funding
Aliens Group raised INR Rs 200 crore (US$30 million) from Edelweiss Broking Limited for its project Aliens Space Station.[6] The company handed over a Rs 580 crore contract to Mumbai based New Consolidated Construction (NCCCL) to speed up the construction work and ensure timely delivery of flats.[7]
Awards and Achievements
- 2008: Awarded a Platinum Rating by Indian Green Building Council (IGBC) in the Residential Townships Category.[8]
- 2008: Received IGBC Green Homes Platinum award under Indian Green Building Council.[9]
- 2009: Cityscape Awards Real Estate Asia under the best Residential Development- Future.[10]
- 2012: Asia Pacific Property Awards under two categories - Apartment for Aliens Space Station and Mixed-Use Development for Aliens Space Station, at the International Property Awards 2012.[2]
- 2012: The founder and MD of Aliens Group, Hari Challa has conferred The Green award for his project Space Station.[11]
- 2012: Aliens Group's founder Hari Challa also received The Platinum Award of Excellence and was listed 5 among India's Top Young Builders.[12]
Controversy
The group ran into controversy due to delay in delivery of flats in - Aliens Space Station 1. This project was conceived in 2006 and pre-booking started in 2007. The project's construction got stalled later due to various politico-economic and alleged misuse of investors money reasons. Aggrieved home buyers started filing cases in Hyderabad Consumer court and in National Consumer Court. There was a group FIR filed by home buyers against the company in January 2015.[13][14]
In March 2015, Harish Challa, Aliens Director, was jailed for about sixty (60) days later released on bail, for the breach of trust of House buyers under IPC sections 420 (cheating) and 406 (breach of trust), with at least 15+ FIRs registered, leading to even escalation of the matter to State Home Minister Nayani Narshimha Reddy by some home buyers. [15]
In 2016, Aliens Group managed to raise Rs. 200 crore funding from ECL Finance Ltd, the non-banking financing arm of Edelweiss Financial Services Ltd which helped to resume construction in Space Station and closing out pending cases through compensating aggrieved customers.[16]
References
- ↑ 1.0 1.1 Hari Challa, Managing Director and a co-founder, Aliens Group(15 December 2009).
- ↑ 2.0 2.1 Aliens Group chosen for two awards. Business Line(15 November 2017).
- ↑ Aliens Space Station Hyderabad.
- ↑ Aliens Group set to launch Hub in Hyderabad. Financial Chronicle.
- ↑ City Reality tees off a success mantra. the Times of India(11 January 2012).
- ↑ Edelweiss' NBFC arm invests $30 mn in Hyderabad developer. VCCircle(7 December 2016).
- ↑ Aliens Group awards Rs 580 crore contract to NCCCL. The Economic Times(8 March 2017).
- ↑ Aliens Group bags green tag. Sify(22 October 2008).
- ↑ Green Habitate 29-1.CDR.
- ↑ Aliens Group begins handover of Space Station. Hindu Metroplus(8 November 2011).
- ↑ A Shade of Green. Deccan Chronicle(4 May 2012).
- ↑ India's Top Young Builders. CW Property Today Magazine(November 2012).
- ↑ A decade after tall promises, flats booked in Hyderabad construction project yet to 'appear'. The News Minute(2016-12-08). Retrieved 2018-11-14.
- ↑ Aliens Group awards contract to NCCCL. Realty Plus Magazine(9 March 2017).
- ↑ 'Aliens Group MD arrested for cheating customers. Times of India(2016-12-08). Retrieved 2015-03-15.
- ↑ With Rs 200 crore private equity infusion, will Aliens project take off now?. The Times of India(8 December 2016).
