SARE’s success in Chennai leads to investment in second
project worth Rs. 500 crore in Kolathur GST


•Inked a 61 acre deal project in Kolathur GST with a sell- out value of c. Rs. 500 crores
• Establishes presence in the two major growth corridors of Chennai – OMR & GST
• Premium lifestyles at affordable prices starting from Rs. 15 lac onwards
• OMR project recognized as ‘Residential Property of the Year’

After the success and recognition of South Asian Real Estate’s (SARE)
prime integrated township in OMR Chennai, and significant monetary appreciation for
customers and investors, the company is now acquiring 61.4 acres of land in Kolathur GST for
development as a residential township worth c. Rs. 500 crores. With this investment, SARE has
firmly established its presence in the two most important growth corridors in the city, namely
OMR and GST.

The newly acquired land is located on the GST growth corridor 28km from the Chennai Airport,
2km from the Koll Railway Station and is proximate to major industrial hubs of Oragadam and
Mahindra World City which house major automobile and IT / ITES companies and is also
surrounded by good quality educational institutes and upcoming infrastructure development.
Access to the land is from the GST via a 40 sq. ft. wide tarred road.

Commenting on SARE’s success in Chennai, Mr. Arvind Pahwa, CEO of SARE said, “We are
happy to announce the closure of our second transaction in Chennai. I am very confident about
the Chennai market with its strong IT / ITES and manufacturing base. It continues to be among
the fastest growing metros in the country. The education, age dynamics and increasing diversity
in the population will enable steady and sustainable growth models. We will continue to focus
on the middle income segment and offer a quality product offering to our customers as we as a
company are very focused on our customer’s aspirations. We are open to looking at further
investment opportunities in and around Chennai.”

The GST project will have 608 sterling apartments, 460 elegant villas and plots suffused with
every comfort of world-class stature. The total project is expected to be completed in three
phases, with phase-1 scheduled to be completed within 18 months from the date of
commencement of construction.

“We maintained our confidence in Chennai through the market downturn of 2008 / 2009 and
launched our OMR residential project in May 2010. Phase 1 and Phase 2 are sold out and we
have recently accelerated the launch of phase 3 with total sales to date in excess of 700
apartments. We have committed construction on 1.35 mn sq.ft. and the total buildable area on completion will be c. 6.8 mn sq.ft. With our second investment in Chennai, we look forward to
establishing SARE as a leading developer in the Chennai residential market. The scale of our
business will enable us to deliver best in class service to our customers and commit the
resources to ensure on time delivery of our projects.” stated Mr. David Walker, Executive
Director – Operations.

The GST project is designed as an integrated township with a gated residential layout, group
housing with well planned roads, inviting landscape and large open spaces, parks, play grounds,
convenient shopping, club house, school, hospital, an old age home and other amenities. The
elegance of the homes defies their pocket friendly pricing of Rs. 15 lac onwards.

Elaborating on the GST project, Mr. Vineet Relia, Chief Operating Officer, SARE and recent
recipient of a Professional Excellence in Real Estate Award 2011 explained, “While launching a
project we give paramount importance to the lifestyle of our customers in the particular
demography and their objective of maximizing the value for their investment. This project will
be tailored to meet the needs of middle class income group with suitable amenities and will be
well customized for them. The apartments will be designed in such a way that when people
come home after going through the stress of modern day corporate life they find the perfect
dream home & ambience to unwind and relax with their family.”

SARE’s OMR project was recently recognized as ‘Residential Property of the Year’ by Realty Plus
for its existing OMR project in a glittering event organized by CREDAI on 3rd February 2011 in Bengaluru.

http://www.saregroup.com/Press%20Announcement%20-%20Kolathur%20FINAL%20_2_.pdf

Imperial Towers|U/C|OMR

http://www.srisreenivasa.com/html/imperial-towers-overview.htm

http://www.srisreenivasa.com/images/inner/projects/imperial-towers-ele-1b.jpg

http://www.srisreenivasa.com/images/inner/projects/imperial-towers-ele-2b.jpg

Club House

http://www.srisreenivasa.com/images/inner/projects/imperial-towers-ele-3b.jpg

Site Plan

http://www.srisreenivasa.com/images/inner/projects/imperial-towers-site-plan.jpg

Location Map

http://www.srisreenivasa.com/images/inner/projects/imperial-location-map.jpg

Primex Verterra|U/C|Porur

http://primexinfrastructure.com/verterra/about.html

Covering over 4.2 acres, Verterra has 324 units in 9 blocks plus a Club House

http://primexinfrastructure.com/verterra/images/abt_banner.jpg

Video

N77NZV5xCw0

Layout Plan

http://property.magicbricks.com/microsite/buy/primex-infrastructure/images/layoutplan.jpg

Location

http://property.magicbricks.com/microsite/buy/primex-infrastructure/images/Verterra-Location-Map.jpg

Doshi Nakshatra II|U/C|Tambaram

http://www.doshihousing.com/nak2_project.html#

http://www.doshihousing.com/images/image_099.jpg

Site Plan

http://www.doshihousing.com/images/image_0616_o.jpg

Location Map

http://www.doshihousing.com/images/Nak_Location-Map.jpg

Status

http://www.doshihousing.com/images/img_3513.jpg.pagespeed.ce.sC9W0DMl5k.jpg

http://www.doshihousing.com/images/img_3499.jpg.pagespeed.ce.hrsu17VRk-.jpg

Fair Square Harmony|U/C|Padur

http://www.fairsquare.in/current-projects/harmony/

http://www.fairsquare.in/images/stories/harmonyimagegallery/Harmony-Aerial-View-big.jpg


Site Plan

http://www.fairsquare.in/images/stories/harmonyimagegallery/harmony-siteplan.jpg

Location

http://www.commonfloor.com/public/plan-images/India/Chennai/Fair%20Square%20Harmony/4e0871783651a.gif

Arihant Frangipani|U/C|OMR

http://www.arihantfoundations.com/Residential/Frangipani.html

http://www.arihantfoundations.com/templates/Common/images/frang.jpg

Site Layout

http://www.commonfloor.com/public/plan-images/India/Chennai/Arihant%20Frangipani/4caabce4022cd.gif

Location Map

http://www.arihantfoundations.com/templates/Common/images/site_map_frangipani.jpg

^^

Coool...... :banana:

Good that you have started this thread....

I was thinking that u include even other mega projects (like Hiranandini) inside this thread. Nevertheless a good start!

^^

Coool...... :banana:

Good that you have started this thread....

I was thinking that u include even other mega projects (like Hiranandini) inside this thread. Nevertheless a good start!

Pl keep the mega projects as separate threads for each.

Murlee,

Even Sare is a very big project coming up in phases. Once you have enough information, please start a new thread for them.

Primex Verterra|U/C|Porur


Doshi Nakshatra II|U/C|Tambaram


Fair Square Harmony|U/C|Padur


Arihant Frangipani|U/C|OMR


Pera vekkiranga paru.. velila poi enga veedu frangipani la irukkunu solla mudiyadhu orutharala.

Tamizh per vecha dhan approval nu sattam podanum.

Pl keep the mega projects as separate threads for each.

Murlee,

Even Sare is a very big project coming up in phases. Once you have enough information, please start a new thread for them.

Yes.. SARE OMR project is quite big and I will start a new thread for it tonight!

This GST road project is just announced and not so much info on it.. SO, lets wait till they release some data for a new thread..

This is a mega project from Unitech.. But dunno whether it is U/C or still in proposed stage.. So, posting here.. If more details come up, we can start a new thread for this..

Unitech Palm Villas| 200 acre integrated township|Nallambakkam

http://www.unitechgroup.com/residential/palm-villas-chennai/index.asp?links=p1&pro=palm-villas-chennai&pro_type=1

Site Layout

http://www.allcheckdeals.com/projects/unitech/Palm_Villas/maps/villas_lay.jpg

Location Map

http://www.allcheckdeals.com/projects/unitech/Palm_Villas/maps/villas_loc.jpg

Vijay Shanthi Park Avenue|U/C|Kelambakkam

http://www.allcheckdeals.com/projects/vijayshanthi/parkavenue/images/parkavenue_big.jpg

Site Layout

http://www.allcheckdeals.com/projects/vijayshanthi/parkavenue/maps/parkavenue_site_w.jpg

Location Map

http://www.allcheckdeals.com/projects/vijayshanthi/parkavenue/maps/parkavenue_loc_w.jpg

http://www.xsreal.com/green-edge

One apartment cost 2.4 crores,

http://i.imgur.com/DjHAe.png (http://imgur.com/DjHAe)

http://www.xsreal.com/green-edge

One apartment cost 2.4 crores,



This whereni grew up(rented house) this area was considered posh those days couldn't believe it's 15000 rs per sq feet now.

Chennai Pattinam Township Latest Pics

http://www.ceedeeyes.com/introduction.html

https://lh4.googleusercontent.com/-t1457DEEVy8/TseSPHrkKXI/AAAAAAAAAHc/gu9doZqQtK8/s912/100_9128.JPG

https://lh5.googleusercontent.com/-TK2JLcCfEXw/TseH64TyLHI/AAAAAAAAAEg/d8bmqb2NRoQ/s912/100_9279.JPG

DAV School

https://lh5.googleusercontent.com/-7WawCGh99dw/TseQE9JOG6I/AAAAAAAAAGQ/zdUp-AobuS8/s912/100_9163.JPG

https://lh6.googleusercontent.com/-BdAD8gV2ln4/TsePtyKTzcI/AAAAAAAAAF4/ld2bK8wUxg0/s912/100_9126.JPG


https://lh6.googleusercontent.com/-FAJUez-J8nc/TseQHKCKkFI/AAAAAAAAAGY/j8zUParqAyQ/s912/100_9188.JPG
SRC: https://picasaweb.google.com/105727609894723263248/CeedeeyesChennaiPattinamDAVSchool

^^ Semma dabba, palich palich colour scheme :bash:

Chennai Pattinam Township Latest Pics

https://picasaweb.google.com/105727609894723263248/CeedeeyesChennaiPattinamDAVSchool

i think TN govt can give housing board project to these developers........... this project exactly looks like a housing board for slum dwellers with gud landscaping.......:lol:

Chennai Pattinam Township Latest Pics


:cripes:

Consultancy Assignment for Transaction Advisory for Development of Thirumazhisai Satellite Town Development Project under PPP Mode

http://www.tenders.tn.gov.in/innerpage.asp?choice=tc5&tid=tnh64266&work=1

Chennai Pattinam projectu Idhu Venum Innavum Venum. fellows really lack the style. It is to be noted that CDS builders have built more than 10,000 apartments in the city but have always catered to the middle class segment.

Chennai Pattinam projectu Idhu Venum Innavum Venum. fellows really lack the style. It is to be noted that CDS builders have built more than 10,000 apartments in the city but have always catered to the middle class segment.

^^

These apartments may not look new age but they would nevertheless attract
MIG's who wish to stay close to the OMR . The concrete roads in the community look good and there seems to be a school , club house and play grounds.At the end of the day a lot of people would prefer functional liveable family oriented apartments with out the glitz.

^^

These apartments may not look new age but they would nevertheless attract
MIG's who wish to stay close to the OMR . The concrete roads in the community look good and there seems to be a school , club house and play grounds.At the end of the day a lot of people would prefer functional liveable family oruiented apartments with out the glitz.

Yeap Frills though we yearn for it would matter only after the core utility is satisfied

Govt ignores protest, clears plan for satellite township in suburbs

Ignoring protests by farmers, the Tamil Nadu government has decided to go ahead with its plan to set up a satellite township at Thirumazhisai in Tiruvallur district, about 25km north of Chennai.

The government has invited multinational companies for providing consultation for a feasibility study and other related works for building a 12,000-apartment complex at a cost of Rs 2,160 crore. Chief minister J Jayalalithaa recently announced her government’s proposal to set up the township on a 300-acre land to benefit all sections of people. This project will let middle and lower-middle income groups to own houses considering saturation in Chennai city and the skyrocketing real estate prices.

Soon after the announcement, farmers from five villages surrounding Kuthambakkam near Thirumazhisai appealed to Jayalalithaa to reconsider the decision to develop a satellite township on agricultural lands. “We are going ahead and implementing the project. We have to get the consultation work done before starting the project,” a senior official from Tamil Nadu Housing Board told TOI. He said the consultant would prepare a feasibility report for developing the vacant lands and assist TNHB in the bid process. “They (consultant) will identify the commercial potential and study parking requirements and open areas,” he said.

According to the plan, a review committee, comprising members from TNHB, CMDA and Tamil Nadu Urban Infrastructure Financial Services Limited (TNUIFSL), will be formed to look into all consultation works. The project plan also includes acquiring 13 acres of land from private owners for developing link roads to the Thirumazhisai satellite township, which would have all basic facilities like drinking water, drainage, rainwater harvesting, streetlights, community hall, schools, hospital, bus stand, park and playground. The official said the township would have 12,000 apartments and they would be sold to economically weaker sections and middle income group people at affordable rates. “It is estimated that about six months will be required for the study,” he said. However, R Elango, former president of Kuthambakkam village panchayat, said that due to local protests, the proposal for a township in the area was withdrawn thrice in the last 15 years – once in 1996, again in 2001 and the last in 2009. He claimed that the selected area is totally made up of agricultural land. Elango alleged that the TNHB authorities “misled” the chief minister by withholding the “real” status of the vast agriculture land.

HOMES FOR ALL

• The government plans to build
12,000 apartments at a cost of Rs 2,160 crore

• The proposal is to set up the township in more than 300 acres of agricultural land

• The project plan also includes acquiring 13 acres of land from private owners for developing link roads to the township

http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOICH/2011/11/23&PageLabel=8&EntityId=Ar00802&ViewMode=HTML

Hope they don't look like present TNHB complexes!

Chennai residential market sees 100 new projects in '11


The Chennai residential market has witnessed a strong upward movement in terms of capital values over the previous year with many micro markets crossing the peak levels of 2008.

According to Cushman & Wakefield, the highest capital appreciation in Chennai was witnessed in Adyar and Poes Garden both recording 25 per cent growth in capital values over last year. The demand for residential units in Chennai is likely to grow at a CAGR of 11 per cent between 2011 and 2015.

The infusion of supply over the next five years is expected to be around 117,500, which is higher compared with certain other major cities such as Bangalore, Hyderabad and Pune.
Property prices across most locations is likely to remain stable during the next few quarters.

Chennai witnessed nearly 100 new residential project launches during 2011 and approximately 15,000 units will be available in the city in the next 2-4 years. The supply during the year was mainly concentrated towards the mid segment and peripheral markets.

Kalpana Murthy, associate director – Residential Services, Cushman & Wakefield India, said the Chennai market had been steady and would remain stable over short to mid-term purely on account of positive demand trend. All segments and locations within the main city of Chennai were experiencing growth, with the mid segment registering the highest. The Chennai market is primarily self-sustained, thereby, even as the global markets seem to go through some upheavals (not to be confused with economic slowdown) Chennai’s reaction to these changes may be limited.

A substantial part of the total supply entering the market in 2011 was located in the growth corridors of Chennai. The more vibrant growth corridor locations of Perungudi, Thoraipakkam, Sholinganallur, Perungalathur saw the launch of 750 units. New upcoming locations of Kelambakkam, Beyond Vandalur, Oragadam and NH -4 recorded approximately 6,400 units largely catering to the investor segment.

However, most of these locations will be long-term investment options only.

http://www.business-standard.com/india/news/chennai-residential-market-sees-100-new-projects-in-11/456543/

SARE’s success in Chennai leads to investment in second
project worth Rs. 500 crore in Kolathur GST




http://www.meadowville.co.in/home.html

Masterplan

http://www.meadowville.co.in/images/masterplanelarge.jpg

Location

http://www.meadowville.co.in/images/map-large.jpg

Satellite Township!

Gvt compensation for 1acres - 6lakhs
1acres value before announcing the satellite township project - 40lakhs
1acres value after announcing the satellite township project - 80lakhs

Farmers are expecting higher compensation from government and works are ON for the same

http://epaper.maalaimalar.com/1122011/epaperimages/1122011/1122011-md-hr-2/15396625.jpg

Malaimalar

http://i.imgur.com/hf7nW.jpg

http://i.imgur.com/9bcdM.jpg

http://i.imgur.com/6OrBb.jpg

http://i.imgur.com/9345k.jpg

^^ I really like the leaf canopy :)

^^ I really like the leaf canopy :)

and i like the rest of it :D

Hmmm... Tennis courts, Swimming Pool and Garden on the terrace! I like :)

Podhumpa like pannadhu.. Poi andha flats ah vangi enjoy pannunga.

Podhumpa like pannadhu.. Poi andha flats ah vangi enjoy pannunga.

In Deiva Magan Sivaji sir asks his father "dad i need just a lakh and 25 thousand". naa andha maadhiri poi enga appa kitta dad i need just a crore and 25 lakhs nu than poi kekkanum

In Deiva Magan Sivaji sir asks his father "dad i need just a lakh and 25 thousand". naa andha maadhiri poi enga appa kitta dad i need just a crore and 25 lakhs nu than poi kekkanum


wlbkng pound'la illena euro'la anuppuvaru :)

http://i.imgur.com/ytmHI.jpg

• Located at no 34, OMR main road, Eggatur Chennai
• A unique residential development of 525 apartments, spread over 8.35 Acres with 4 towers. Three towers with 28 floors (100m height) & the signature tower with 50 floors (171m height)
• 60% of all apartments designed to ensure direct views
• Offering a range of residence sizes including a 2BHK + study at 1475 sq. ft, 3BHK at 1975 sq.ft,4 BHK at 500 sq.ft., duplexes and penthouses
• Apartments above the 10th floor will enjoy a stunning uninterrupted sea view
• Tallest residential development in Chennai overlooking the Bay of Bengal and the city

Developer: Archean Design & Development, Chennai
Architect: SRSS, Singapore
Civil/Structural Design/Lighting: Meinhardt, Singapore
Facade Consultants: Israel Berger & Associates, NY
Landscape Architect: Sitetectonix, Singapore
Local Architect: Mhetras Design, Chennai

Bono,

Can u please post the residential projects in the thread dedicated to residential projects in SCR?

Or, Kannan Sir can repost it there..

Bono,

Can u please post the residential projects in the thread dedicated to residential projects in SCR?

Or, Kannan Sir can repost it there..

Done

wlbkng pound'la illena euro'la anuppuvaru :)

$ pola varuma

http://i.imgur.com/ytmHI.jpg

• Located at no 34, OMR main road, Eggatur Chennai
• A unique residential development of 525 apartments, spread over 8.35 Acres with 4 towers. Three towers with 28 floors (100m height) & the signature tower with 50 floors (171m height)
• 60% of all apartments designed to ensure direct views
• Offering a range of residence sizes including a 2BHK + study at 1475 sq. ft, 3BHK at 1975 sq.ft,4 BHK at 500 sq.ft., duplexes and penthouses
• Apartments above the 10th floor will enjoy a stunning uninterrupted sea view
• Tallest residential development in Chennai overlooking the Bay of Bengal and the city

Developer: Archean Design & Development, Chennai
Architect: SRSS, Singapore
Civil/Structural Design/Lighting: Meinhardt, Singapore
Facade Consultants: Israel Berger & Associates, NY
Landscape Architect: Sitetectonix, Singapore
Local Architect: Mhetras Design, Chennai


I really like this #startMeesic

$ pola varuma

Is it "$ pola varuma" OR "$ pona varuma" ;)

Is it "$ pola varuma" OR "$ pona varuma" ;)

$ pola "varumai"

Is it "$ pola varuma" OR "$ pona varuma" ;)

$ pola "varumai"

Good one satchi & vinod..

May be "$ pona varumai"

Good one satchi & vinod..

May be "$ pona varumai"

varumai yin niram $

I really like this #startMeesic

I act like a Catalyst. ;)

In Chennai No chance for building a high Tower that too 50 storeyed.

# Museek start paa.

I act like a Catalyst. ;)

In Chennai No chance for building a high Tower that too 50 storeyed.

# Museek start paa.

then let them build one in tiruvalur or kanchipuram districts close enough to city's proximity. Simple!!:cheers:

^^ Exactly, that's what I was about to say :lol: Let them build in Tier 5 Siruseri !

Green Tree Homes to invest Rs 500 cr in second project

Chennai-based Green Tree Homes and Ventures Pvt Ltd is planning to invest around Rs 500 crore over the next three years in developing residential properties. The company would develop a total of around two million sft in the next three years, said company director Pon Ravichandran.

“We are planning to raise funds from private equity (PE) players, high networth individuals (HNIs) and banks to support us to reach the target. Talks with some PE firms are in an advanced stage and we expect some development in the next three to four months,” he said. However, the company has not decided on the percentage of the total investment to be raised through the source.


Green Tree has a land bank of around 55 acre and plans a 47-acre township project, its second project. It recently announced its first project, a 605- apartment township near the IT corridor at Siruseri, near here, with a project cost of Rs 150 crore. It would also launch 40 independent villas on the city outskirts on four acre. Construction works for the second half is expected to start in 2012.
The promoters of the company have already invested around Rs 50 crore for the first project. The first project, Green 201, on four acres would have a built-up space of around 700,000 sft.

The company would initially focus on townships and residential projects and eventually launch some commercial projects next year, added Ravichandran.

It is also engaged in a project by the State Housing Board in Korattur, near Chennai, to rebuild a plot with 66 owners into 164 apartments.

http://www.business-standard.com/india/news/green-tree-homes-to-invest-rs-500-cr-in-second-project/458291/

^^

A new township is being announced on OMR,GST,SPDR and beyond every other week . I hope these real estate folks discuss with the Corporates and the Govt to plan adequate social infrastructure like Malls,Multiplexes,Schools,Hospitals ,Road,Rail in these areas before they get too far ahead . A recent article in Hindu "Property Plus" cribbed about how other cities were providing well rounded townships with adequate social infrastructure but Chennai is yet to provide one even though the demand for the residential sector is higher than other South Indian cities . If we have to coax people to move to the Burbs or invest in them the Govt has to work actively with the Corporates in the respective areas to provide facilities comparable to the core city .



:cheers:

^^

A new township is being announced on OMR,GST,SPDR and beyond every other week . I hope these real estate folks discuss with the Corporates and the Govt to plan adequate social infrastructure like Malls,Multiplexes,Schools,Hospitals ,Road,Rail in these areas before they get too far ahead . A recent article in Hindu "Property Plus" cribbed about how other cities were providing well rounded townships with adequate social infrastructure but Chennai is yet to provide one even though the demand for the residential sector is higher than other South Indian cities . If we have to coax people to move to the Burbs or invest in them the Govt has to work actively with the Corporates in the respective areas to provide facilities comparable to the core city .

:cheers:

Yes.... If the development is evenly poised, then the prices also will be affordable and competitive (i saw an ad for a flat in egmore by DLF being priced at Rs 3 crores )

^^

A new township is being announced on OMR,GST,SPDR and beyond every other week . I hope these real estate folks discuss with the Corporates and the Govt to plan adequate social infrastructure like Malls,Multiplexes,Schools,Hospitals ,Road,Rail in these areas before they get too far ahead . A recent article in Hindu "Property Plus" cribbed about how other cities were providing well rounded townships with adequate social infrastructure but Chennai is yet to provide one even though the demand for the residential sector is higher than other South Indian cities . If we have to coax people to move to the Burbs or invest in them the Govt has to work actively with the Corporates in the respective areas to provide facilities comparable to the core city .



:cheers:

Exactly! Comparison was directly with Bangalore and how Chennai is lagging behind. Sad story!

Pongal release: Mega housing projects
6 Residential Projects Begin Pre-Launch Offers, May Set Trend For 2012

Notwithstanding the perceived slowdown in the real estate sector due to high interest rates, about half-a-dozen mega residential projects are slated for launch during the Pongal festival. Most of them have rolled out pre-launch offers to lure buyers.

Home buyers hesitate to book a property during the Margazhi month, (mid-December to mid-January), but over the past few years pre-launch discount offers during this period have attracted bookings. Industry sources forecast a steady demand and do not see a big slowdown in Chennai residential deals despite high interest rates drilling hole in consumers’ pockets.

“If these projects do well, then it could signal the revival in sentiment,” said Mathew Joseph, the head for mortgage lender Housing Development Finance Company (HDFC) .

The projects are mostly concentrated on the Old Mahabalipuram Road and GST Road. For instance, Green Tree Homes has just launched its 600-unit Green 2001 in Siruseri, Pacifica Builders is launching its Aurum, a 600-unit complex near Padur on the OMR and Olympia’s Grande, a 400-unit complex that will double its space when it completes, is coming up in Pallavaram.

“Bulk of the projects are launched on the OMR and GST Road, where IT professionals are looking to buy flats to avoid commuting long distances. So the demand is always there,” said S Ramaswamy, associate director of RECS Group, a real estate consultant.
There is a clear shift from the city to suburban Chennai. The target segment for the developers was the double-income middle-class tech families, Joseph said. “In Chennai, there has not been much of a slowdown. Only the sentiment has been slightly affected.”

“With no jump in prices, the residential market is very sustained. More project launches are expected by the year-end and next year, fueling positive growth in 2012,” said Chitti Babu, MD of Akshaya Homes and honorary secretary of Confederation of Real Estate Developers’ Associations of India.
“Demand always existed in Chennai but the interest rates could affect buying capacity,” said Kalpana Murthy, associate director of residential services, Cushman & Wakefield. However, with speculation that guideline values for property registration would be revised anytime now, buyers might rush to seal deals, she said.


http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOICH/2011/12/14&PageLabel=5&EntityId=Ar00500&ViewMode=HTML

Realty market beckons NRIs

“Although the current high interest rates have impacted the property market in Mumbai and New Delhi with slow demand, Indian property sector remains one of the most attractive investment sectors offering more than 20 per cent annual growth rate in prices. For NRIs, who enjoy the added benefit of attractive currency exchange rate along with relatively low interest rates, this is the right time to invest,” said Prashant Mirkar, general manager of House of Hiranandani, or HOH, a leading business conglomerate and one of the pioneers of destinations projects in India.

He said Chennai and Bangalore markets remain vibrant thanks to a spurt in investments by NRIs from the Gulf. HOH, which is showcasing its range of projects at the Indian Property Show, offers affordable premium housing solutions to upscale luxury and signature residential destinations and commercial project for purely investment and self-use purposes.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2011/December/business_December289.xml&section=business&col=

There is hope for 2012

http://www.thehindubusinessline.com/multimedia/dynamic/00880/BL1_REAL_ESTATE1111_880119f.jpg

Compared to the promise the Chennai residential market held out in the first half of 2011, the second half has disappointed with sales slowing down. The coming year, at least the initial months, don't hold much promise, feel developers.

However, despite the sombre mood, developers point out that there are bright spots — banks are more supportive on the home loan front, interest rates are bound to drop, the mid-segment and upper mid-segment-representing buyers for properties in the Rs 30 lakh to Rs 70 lakh segment are keen on purchases — but housing finance institutions say the active segment is across a narrower range of up to Rs 40 lakh — projects in locations that hold promise of development in the near term are doing well.

These characteristics will be the framework for the new projects expected in 2012.

EXTRANEOUS FACTORS

The slowdown in purchase this year is due to extraneous factors — uncertainty in the economic scene at home and abroad. Purchases have been particularly hit in the high-end segments, residential units priced above Rs 80 lakh, where the buyer primarily isn't a first-time home buyer, and is in no hurry to purchase a property. During the year, the elections to the Assembly and the local bodies also resulted in new project approvals and launches slowing down. But this helped to shore up prices despite the slow market, as supplies were also low.

Essentially, the Chennai market presents a mixed bag, with buyers being particularly choosy, due to low supply and a slow market.

Next year, developers will focus on the mid-range; new project launches will beat competitive rates. Developers will focus on value housing, keeping costs down. This will mean the introduction of new technology like precast and prefabricated construction and aluminium form work will catch on, to speed up delivery and handle labour shortage.

Mr Ajit Chordia of the Khivraj Group, a leading developer, says the first quarter of 2012 will be slow, as developers are cautious and ‘launches will be guarded.' Buyers, particularly early entrants to projects, are likely to benefit from the competitive pricing in prelaunch offer. But they would have to balance this against a longer wait for delivery on prelaunch bookings.

The first half of 2011 calendar year was good, with sales peaking in July-August. But subsequently, signs of a market slowdown became apparent, with buyers restricting themselves to enquiries, and becoming extremely choosy regarding projects, says Mr Chordia.

A major concern will be the proposed hikes in guideline values in Chennai. The Government is proposing a uniform guideline value of Rs 15 crore an acre between Sholinganallur and Siruseri on Old Mahabalipuram Road. While this may be alright for properties along the main road, land further away from the road or lands without access to main roads could be affected, as these are lands valued at approximately Rs 2-3 crore.

Similarly, guideline values in areas like Pallavaram, Guindy are multiple times the market value and this will affect registrations. This could hit transactions in the coming months.

LARGE PROJECTS

A good development in the Chennai market has been the completion of large projects along the Old Mahabalipuram Road, the IT corridor to the south of Chennai. As a location, the 30-km stretch is one of the largest residential markets, and it is seeing families moving in. Social and physical infrastructure is improving, and the momentum is building up in this key market.

For instance, at the Khivraj group's Olympia Opaline, more than 100-140 families have moved in, which is heartening, he says. More than 250 units have been handed over, and leasing is also happening in the price range of approximately Rs 12-18 a square foot.

Mr V. Suresh, Principal Executive Officer, Hirco, the Hiranandani Group's Palace Gardens project at Oragadam, a fast-developing industrial hub of Chennai, says in addition to the proposed 1,656 apartments planned in the first phase, the company is adding 966 units more for launch in the one and two-BHK units, in line with market patterns.

While numbers aren't available, 2011 sales were better than 2010, he says. More than 160 apartments have been handed over and rental activity is picking up. Depending on the level of furnishing, a bare shell apartment can get a rent of Rs 12 a square foot a month, and can go up to Rs 45 a square foot for fully-furnished units.

According to a senior executive in a housing finance institution, 2011 had started off on a good note, but from June, the sentiments were down, in line with the general industrial scenario. The September-to-December period has been the worst. But the want of new supply of residential projects helped sustain the market, despite the slow demand.

NRI investments have also been down despite the Rupee slipping against the US Dollar. This slide alone represents a 20 per cent gain for NRIs, and should have sparked keen interest in this market. But with the US, Europe and the Gulf economies hit, investor sentiment is down across the globe, the official said.

Keeping costs down will be a key sentiment in the coming year, as the developers target the middle-income groups.

http://www.thehindubusinessline.com/features/investment-world/article2763888.ece

Happy new year folks.

Unitech - Chaitanya ( G+17 X 10) -North Town (binny mills perambur)

http://unitechgroup.com/images/top-banner-north-town-chennai.jpg

Ananda and Brahma, part of Phase I were only G+13
Chaitanya and Ekanta are part of Phase II

New TNHB schemes for landowners


Tamil Nadu Ho-using Board is at the negotiating table with land-owners to come up with special packages in a bid to implement the Satellite Town Scheme at Thirumazhisai, according to sources.

There are four packages covering an area of 311.05 acres of land, which will consist of 12,000 dwelling units at an estimated cost of `2,160 crore. For those who give three to five acres of land, without the family having to incur the basic cost, 2,400 square feet of developed plot will be handed over. Those who give up between one and 2.99 acres; and 25 and 99 cents, 1,200 square feet and 800 square feet of developed plot will be allotted respectively.And those who give over five acres of land, TNHB will provide employment opportunities based on qualification and vacancy.

The satellite township scheme was proposed in 1998, when TNHB wanted to acquire 1,694.98 acres of patta lands in Vellavedu, Kuthambakkam, Narasingapuram, Chembarambakkam and Parvatharajap-uram villages of Poonama-llee taluk in Thiruvallur district.
Even though there are no pending against 310.42 ac-res aquired for the project, the move was opposed by most of the villagers. There are 60 petitions pending in the fast track court in Poon-amallee seeking higher co-mpensation. There was al-so a plea by political parties not to acquire cultivable land. A GO was issued later stating that only 466.49 ac-res will be utilised.
Sources said 119 land owners, who own 104.96 acres, were directly paid `1.47 crore. A sum of `1.39 crore each has been kept under the Civil Court Deposit under Section 30 & 31 (2) of land acquisition act for 199 land owners, who own 101.20 acres. Similarly, `1.21 crore each has been kept under revenue deposit for 81 land owners, who own 104.89 acres.

http://ibnlive.in.com/news/new-tnhb-schemes-for-landowners/216923-60-120.html

Any idea what these projects are? The photographer mentions the area as Sithalapakkam

http://static.panoramio.com/photos/original/48602077.jpg

SRC: http://static.panoramio.com/photos/original/48602077.jpg

Raga - Oragadam by Mohan Mutha

https://lh4.googleusercontent.com/-gLMZ81aTYEE/TwatmvhvvqI/AAAAAAAAAAk/y9VZnMg1fSo/s800/IMG_5972.JPG

AKSHAYA LAUNCHES METROPOLIS PHASE II

Akshaya Pvt Ltd has launched ready-to-move-in homes in the second phase of its Metropolis project, near Mahindra World City on the GST road, about 45 km to the south of Chennai.

The fully furnished, luxury segment apartments are available in a combination of 2 and 3 BHK ranging from 1,391 sq. ft to 1,799 sq. ft priced from about Rs 3,400 a sq. ft, according to a press release. Each apartment will be fitted with modern home décor, furnishings and gadgets including modular kitchen, hob, chimney, water heaters, fans, air conditioners, wardrobe in bedrooms and curtains.

Metropolis project comes with common amenities such as 24x7 securities, backup power generators, play area, service apartments, shopping area and club house. A four-acre central green adds to the beauty of the project.

The press release quoting Mr T. Chitty Babu, Chairman & CEO, Akshaya Pvt Ltd said, “Metropolis delivers the best of lifestyle and has been built to international standards with an Indian soul.” The GST road is the fastest growing suburb in Chennai with sizeable IT, Auto & EMS projects. The Phase I has been sold out and ready for occupation shortly and the project has moved on to the next level.

http://www.thehindubusinessline.com/todays-paper/tp-investmentworld/article2783734.ece

Prestige Bella Vista|Porur|33 x 17 Fl

http://www.prestigeconstructions.com/bella-vista/overview.html

Quick facts:

Location: Mount Poonamallee Road, Porur, Chennai
Development Type: Residential Apartments
Development Size: 25.18 Acres – 20 Residential Towers comprising of 33 Blocks (G+16 Floors)
Number of Units: 2613 Apartments of 1, 2, 3 & 4 Bedrooms

Location Map

http://www.prestigeconstructions.com/bella-vista/images/bella-vista-location-map-small.png

Prestige Bella Vista - contd..

Master Plan

http://www.prestigeconstructions.com/bella-vista/images/bella-vista-master-plan-large.jpg

Amenities

Clubhouse
Gymnasium
Health Club
Party Hall
2 Swimming Pools
2 Squash Courts
2 Badminton Courts
3 Pool Tables
3 Table Tennis Tables
Aerobics
Yoga
Library
Children's Play Area
Crèche and Space Provision for Super Market

Prestige Bella Vista - contd..

Renders

http://www.prestigeconstructions.com/bella-vista/images/bella-vista-central-greens-perspective-large.jpg

http://www.prestigeconstructions.com/bella-vista/images/bella-vista-palm-grove-perspective-large.jpg

Club House

http://www.prestigeconstructions.com/bella-vista/images/bella-vista-club-house-view-perspective-large.jpg

Big builders line up housing projects despite slowdown

Even as experts predict a financial slowdown in 2012 as a fallout of the European financial crisis, more residential apartments are being lined up by builders in suburbs. Prices in suburbs have remained stable for close to two years. While apartments are priced between Rs 4,000 and Rs 5,000 per sq ft along most parts of the Old Mahabalipuram Road till Kelambakkam, other regions like Bangalore Highway, GST Road and Oragadam belt are still cheaper. JC Sharma, MD of Sobha Developers , feels Chennai is a safe market for both promoters and apartment buyers.

"It is a steady market and not overheated. You hardly find a speculator in this market. There are very few investors too. The market is stable as majority of home buyers are end users," he said. Four major residential projects have been announced in suburbs in less than a week.

Sobha is gaining a foothold in Chennai real estate market in 2012 with an investment of Rs 400 crore on two residential projects. The group has announced a 556 apartment project on a six-acre plot near Kelambakkam and a 176-apartment project near Porur. So far, Sobha has been doing contractual projects for Infosys and Dell in Chennai.

Sharma is not unduly bothered about a projected churning of the Indian real estate market. He exudes confidence, "We do not want to overreact to this global scenario. As long as my customers' jobs are protected and I provide supply in the right segment, my apartments will sell. There is a huge housing shortage in this country. Strong players have a significant role in a disturbed market because they alone can deliver on time when the conditions are bad." Prestige, another Bangalore-based promoter, has entered the Chennai residential segment with a 2,613-apartment project, one of the biggest in the city, near Porur.

Meanwhile, Cee Dee Yes, a city-based developer, has launched the second phase of Chennai Pattinam, an integrated township near Tiruporur which boasts of a school, shopping mall. The builder has completed 1,380 apartments in the first phase, of which, about 700 are sold. In the second phase, it is promoting 1,228 apartments.

Tackling the unsold is a major task for many builders who operate in the suburbs. "We have about 600 unsold apartments that are ready to use. As a marketing tool, we offer our customers the option of renting apartments back to us at a rental of Rs 10 per sq ft per month. We will convert them into serviced apartments," said C Devadasa Sundaram, CMD of Cee Dee Yes.

It is not easy to promote townships in the suburbs with hardly any infrastructure in place, said Sundaram. He operates buses at 30-minute intervals from his township to Chennai city, both along the OMR and the GST Road. "We offer on our premises every facility a family needs. They are forced to get out only to go to offices. When it takes more than two hours for a software professional to travel from city to Sirusseri IT Park, people staying in our township can reach Sirusseri in just 20 minutes." Still, only 150 families have moved into Chennai Pattinam so far.

http://timesofindia.indiatimes.com/city/chennai/Big-builders-line-up-housing-projects-despite-slowdown/articleshow/11546678.cms

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2,600 new flats to come up at Foreshore Estate


The Tamil Nadu Housing Board has floated tenders to appoint a consultant to prepare a detailed project report for redevelopment of Foreshore Estate into a residential colony.

The Board plans to construct 2,600 flats in multi-storied residential complexes at Foreshore Estate. In the first phase, 1,610 flats will be constructed on 21.03 acres and in the second phase, construction of 990 flats will be taken up on 6.49 acres. To develop the second phase, 268 existing flats will have to be vacated and razed.

Two years ago, the Board had evicted more than 1,000 families from the Foreshore Estate to facilitate its redevelopment. The old buildings, promoted in the 1960s, were in a dilapidated condition and were pulled down to avert a disaster.

The consultant, apart from spelling out the marketing strategy of the project, will also have to do the structural design of the building in line with the seismic zoning of the area.

Facilities like fire fighting, safety devices, public address, access control, telephone exchange, communication tower, water supply, furnishing fit out, sewerage disposal and treatment plants, internal roads and arrangements for special security system will be available on the premises once it is redeveloped.

Five types of apartments will be constructed in the first phase. "We will construct 30 houses each with 1,800 sq ft and 250 houses each with an area of 1,440 sq ft," a senior TNHB official said. Another 200 houses will have an area of 1,080 sq ft each. In the low-end segments, 680 apartments will measure 780 sq ft each and 450 apartments will measure 648 sq ft each.

The earlier tenants of the housing board apartments would be given preferential allotment, said sources.

http://timesofindia.indiatimes.com/city/chennai/2600-new-flats-to-come-up-at-Foreshore-Estate/articleshow/11561200.cms

2,600 new flats to come up at Foreshore Estate




http://timesofindia.indiatimes.com/city/chennai/2600-new-flats-to-come-up-at-Foreshore-Estate/articleshow/11561200.cms

This is housing board quarters right, not for sale I suppose

Today's TOI has 4 huge residential projects advertised in the main paper itself.

1. Amarprakash in Chromepet - 1076 apts in 17 acres
2. Prestige Bella View in Porur - 2613 apts in 25 acres
3. Chennaipattinam in thiruporur - 2500 apts
4. S & P Living spaces at Mogappair - 2800 apts and 300 villas in 80 acres overall

That makes a total of 8989 Apts in just 4 projects.

If you notice, all of these are spread across the city and pretty much outskirts. Almost all of them have also announced a discount in prices or some freebies. S & P is giving a free trip to Singapore or a car park or a gold coin or a club membership.

While more residential projects are good, I hope the government regulates their location and brings about a concept of a few satellite townships or clusters. Each cluster should be a small self contained towns and connected with each other and main chennai city with a series of expressways and public transport corridors. Within each cluster, there can be multiple townships like the projects announced above with local light rail systems and mono rails acting as feeder systems.

Currently most of these townships are islands surrounded by very bad infrastructure. They are announcing all amenities inside. For example, consider the supermarket promised. There is going to be one supermarket for these 1000+ houses. Once outside the compound, the available alternatives are very less. Which means, that one supermarket will have a virtual monopoly and the prices are going to be pretty high. But the people there will not have much choice.

With the industries and offices also spread all across SCR, a lot many of these people also have to use their cars and bikes travelling over tens of kilometres in these pothole ridden roads - increasing road traffic congestion and harming their own health.

Despite so many projects, the housing demand of the lower income groups is still not being met. A lower middle class person has to literally go to the extreme outer fringes of SCR, to get an affordable house. This is a big gap and cannot be satisfied by just TNHB. We need a public - private partnership where private parties build big projects near the city while government helps with the land and also provides subsidies for the lower income people, at least in form of cheaper loans.

Of late, I've also been hearing that a lot of these new big projects remain unsold. chennaipattinam appears to have almost completed construction. not sure why apartments are still unsold or if this is their deliberate strategy. Hopefully, there is not a bubble waiting to burst.

Olympia Grande launched adding to more number of flats.
A new project from the Olympia Group christened “Olympia Grande” has been launched by Olympia Technology Park on Guindy and Olympia Opaline on Navallur OMR covering 3 million sq ft of constructed space.

This latest offering would be on a 7.5 acre parcel of land on main Pallavaram road opposite the newly opened Pallavaram Thoraipakkam Bridge.

Olympia Grande would be the first high rise residential building in Pallavaram with stilt plus 11 floors.

The location of the project is one of the main USP of the project. This project is centrally located connecting – SBD/CBD, OMR, ECR, GST (till Mahindra World City) to Oragadam. The transport options and basic amenities are unparalleled with all modes of transport available .

The project being just 2 km away from the airport is another added advantage. Olympia Grande has a boutique club with swimming pool, gym, party hall and indoor games.

The project would have 800 units approx broken up into 2, 2.5 and 3 bhk and the total project size is 0.9 million sq ft approx. "


http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article2818779.ece

Baashyam launches ‘Happy Windows'

Chennai: Baashyaam Constructions has launched a residential project ‘Happy Windows' in Kattupakkam, with 280 apartments in a land area of 3.51 acres.

With a 1.5km drive from Kumanan Chavadi Junction; the project is located in an ideal residential area, with ample space around. State-of-the-art amenities like gym, library, meditation hall, club house and proximity to the city makes this an ideal investment choice. Easy access to educational institutions, hospitals, banks and IT parks is added an advantage . The launch price of the project is Rs 3500 per sft.

Baashyaam Constructions have developed residential, commercial and infrastructure projects on varied scale ranging from small apartments to Independent villas. The group is completing 30 years in 2012 and venturing into large scale gated communities in the near future
http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article2818777.ece

Phase II of Prince Village launched
With a slew of prestigious commercial and residential projects in its kitty: Prince Infocity I & II, Prince Techno Park, Prince Residenzia, Prince Greenwoods, to name a few- Prince Foundations, Chennai's leading real estate developers, presents its latest offering.

After the successful launch of Phase I with all 582 apartments sold out, Prince Foundations launches Phase II of Prince Village, Tondiarpet.

Spread over 6.5 acres of lush greenery with 62% of the area devoted to open spaces, Prince Village II has 460 flats in 1, 2, & 3 BHK. It also includes 10,000 sq. ft. of commercial building area.

Facilities

There will be a unisex salon, departmental store, ATM, pharmacy, and much more, right within the compound. Prince Village offers sizes ranging from 1140-1460 sq. ft for a 3BHK to 940-985 sq. ft. for a 2BHK, and 580 sq.ft. for a 1 BHK apartment. Located in a well-developed part of the city, Prince Village II enjoys close proximity to renowned educational institutions, hospitals, shopping malls, and the railway station.

There's a mono rail project on the anvil too. Prince Village II boasts of a host of modern amenities including clubhouse, jogging track, tennis court, pergola with seating, basketball court, indoor games, air-conditioned gym, children's play area, shuttle court, skating rink, party hall and water bodies.

While Phase I of Prince Village will be ready for delivery in December 2012, Phase II is not far behind with expected delivery three years from now.

http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article2818780.ece

Sobha Meritta at Pudupakkam off OMR, on Kelambakkam - Vandalur Road
Sobha Developers Ltd. have announced a new their new luxury project Sobha Meritta in Chennai at Pudupakkam, on the Vandalur Kelambakkam road, off from OMR and near Chettinad Health City.

This project is coming up in around 6 acres of land with a total of 556 apartments coming up on 5 blocks of Stilt + 13 / Stilt + 14 floors.

For the first phase, 400 apartments are open for booking with 1, 2 and 3 bedrooms configurations in sizes in the range of 536 sqft. to 1775 sqft.

For more details, including location on Google Maps and online discussions, proceed to Sobha Meritta Details [placetolive.in]

This is Sobha's second project announced after their earlier Sobha Serene project at Poonamallee in Chennai.

Shrusti Foundations, based out of Velachery, Chennai has announced Shrusti Vedanshi - a residential cum commercial building in Velachery By-pass Road.

Shrusti Vedanshi will have commercial space on the frontage with the by-pass road, with the residential apartments in higher floors (total 7 floors) and in the rear.

A total of 41 apartments will be coming up in this project, with sizes ranging from 1160 sqft to 1985 sqft. The current rate is Rs.8700/sqft*.Features/Amenities include swimming pool, visitor's lounge, intercom facility, gymnasium, play area for children, power backup, piped gas supply and more.

Guys

Pl do not discuss in this thread. Pl post only project related posts/ news.

All discussions have been moved to Chennai Discussions Thread. Pl continue there, if you still want to do.

Thanks

State to get 1.8 lakh housing units in the next five years

The State will get an additional 1.85 lakh housing units in the next five years at a cost of Rs.17,230 crore. Of these, 1.43 lakh units would be for the economically weaker sections, R.Vaithilingam, Minister for Housing and Urban Development said on Monday.

Speaking at the inauguration of Municipalika, ‘10 international conference and exhibition on good urban governance for safe, healthy, green, inclusive and smart cities', he said 39,000 units were for other income groups divided into low, medium and high.

The three-day exhibition and conference at the Chennai Trade Centre is being organised by Good Governance India Foundation.

He said that as land was not available with the government for construction of dwelling units, in future, land pooling and joint ventures with land owners would be conceptualised for availing land for projects.

K.P. Munusamy Minister for Municipal Administration said that under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), during 2011-12, it has been proposed to utilise Rs.1,361 crore for housing and infrastructure programmes in urban areas in the State.

The government, he said, also plans to ensure that Tamil Nadu becomes an open defecation-free State by 2015 by developing a strategy and design for modern public toilets to take care of the specific requirements of women, children, the aged and persons with disability.

British Deputy High Commissioner in South India Mike Nithavrianakis said that addressing climate change and promoting low carbon development is of great importance to the United Kingdom.

The UK, he said was a global hub for cost-effective, innovative low-carbon solutions. In India, he said the UK had been working with various partners and the recurring theme was sustainable, energy efficient, low-carbon infrastructure.

Housing and Urban Development Secretary Phanindra Reddy said that the Chennai Metropolitan Development Agency has just completed the 3 traffic study and already some departments had started work on skywalks and foot over bridges from that.

Chennai Mayor Saidai S Duraisamy, and V.Suresh, advisor and Sanjiv Agarwal, Founder Trustee of Good Governance India Foundation spoke.

At the exhibition, green technologies and innovative equipment in areas including sewage treatment, unclogging drains, lighting, power saving and roads were on display.

An interesting stall features a waste water recycling technology developed by a team of alumnus of IIT Mumbai where 1,000 litres can be recycled at Rs.4. The technology is commercially available under the name Sugam Paryavaran Vikalp and is being used in Karnataka and Puducherry, said its co-inventor Avinash Kadam.

Digisewer, a camera mounted on wheels and that can enter sewer and water pipelines and being used in Mumbai is an interesting exhibit. LED lights designed as street lights, tube lights, indoor bulbs and focus lamps are being showcased by SRM Electronics. The Auroville stall showcases solar powered lamps and sustainable development.



http://www.thehindu.com/news/cities/chennai/article2826400.ece

http://timesofindia.indiatimes.com/city/chennai/Builders-disregard-SC-order-on-car-parking/articleshow/11643788.cms

CHENNAI: As India celebrated its 63rd Republic Day on Thursday, about 100 elderly home buyers observed a one-day fast protesting against their builder, a quasi-government organisation, which is levying hefty charges on them for providing stilt car park, a thing the apex court in the country had ruled illegal in 2010.

The customers were echoing the concerns of almost every home buyer in the city. Most Chennai builders have been collecting hefty amounts for providing car parking facilities, from Rs 75,000 to Rs 1.5 lakh for open car park and Rs 1.5 lakh to Rs 3 lakh for stilt car park. Though many individual buyers would have raised objection to such practices, such an organised spirited protest is being staged for the first time.

In the present case, the builder is the Central Government Employees' Welfare Housing Organisation, a unit of the ministry of housing and urban poverty alleviation. While the builder has put 485 stilt car parks up for sale in the apartment project nearing completion at Paruthipattu, near Poonamallee, the buyers are resisting it saying it goes against the Supreme Court's ruling. The apex court had ruled way back in August, 2010 that "The promoter has no right to sell stilt parking spaces as these are neither flat nor appurtenant or attachment to a flat."

Quoting from the SC order, Shivkumar K Iyer, the secretary of the Paruthipattu Allottees' Pre-possession Association, said, "The stilt car parking space is part of the common amenities and it cannot be treated to be a separate premises/garage which could be sold by the developer to any of the members of the society or an outsider."

D Shanmuganathan, a university professor, said, "Many private builders even sell open car park area knowing very well that it is a violation. Unless there is a regulatory body to pull them up, they will continue doing it."

President of Confederation of Real Estate Developers' Association of India, Chennai chapter, T Chitty Babu, however, claimed there is a difference between open car park and stilt car park. "While open car park cannot be sold as it is part of the undivided share of land already registered in the name of the apartment buyers, the stilt car park can be sold. We have taken opinion from leading lawyers on what the SC order says. They pointed out that since the stilt car park is attached to the apartment building, it can be sold."

But when the court itself has ruled that stilt area is common area, there is no need for any further clarification, points out D T Eshwaran, president of the Paruthipattu association.

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CITY GETS REAL
Siva Krishnan gives us an overview of the city's real estate market with a focus on shifts in the demand-supply equation and emerging real estate destinations in the city and suburbs


DEMAND, SUPPLY AND PRICING


In contrast to what was been witnessed in many of the more volatile cities over the last couple of years, Chennai's residential property market saw steady growth in terms of pricing, demand and supply. Chennai's residential property market is predominantly end user driven, and this fact did a lot to sustain consistent absorption throughout 2011.

The absence of overt speculation has also ensured that developer has move pricing of homes in a stable and gradual manner. Unnatural spiking has therefore been successfully kept at bay. We expect interest rates to decrease over the course of 2012, and this will result in greater demand for homes in Chennai in 2012.

Increased job security in the city has definitely helped the market to maintain buoyancy and a positive outlook. Over the last 12 months, it became increasingly evident that Chennai's residential real estate market is significantly dependent on the IT/ITES sector. With employment stability in this sector looking a lot better now than it did in 2010, demand for homes has now reached a comfortable and dependable growth trajectory from which developers are taking their market cues.

CONFIGURATIONS IN DEMAND

The preferred size for 3BHK flats in Chennai has increased from 1200-1300 square feet during the recession to 1400-1500 square feet in the revival phase. The preference for 2BHK sizes has also increased from 850-950 square feet to about 1100-1200 square feet. Again, the main reason for this upgrade in preferences is increased budgets made possible by improvement in the performance of the IT / ITES sector.

This is a welcome trend which is enabling architects, planners and developers to come up with better quality dwelling units. Affordable housing units continue to rule the roost in areas where social infrastructure lags and capital values are therefore lower.

We expect overall demand for residential properties in Chennai to increase once the interest rates stabilises from their current peak. There is a very healthy demand in both the primary and secondary markets, since supply is scarce in both owing to the severe lack of land within the city. Land pricing has, in fact, surpassed the buying capacity of developers and this has put pressure on their ability to come up with viable residential products. Lack of supply and exorbitant pricing are causing both the end users and investor segments to take a closer look at suburbs with decent infrastructure.

SUBURBAN DEMAND DRIVERS:

• Positive market sentiments

• Possible softening of interest rates

• Increased job security

• Unaffordable property rates in the central city

Year 2011 saw residential property pricing in Chennai moving up in a phased and rational manner, which helped in sustaining the momentum. Prices rose by between 8-30% in different areas, but these rises took place in small compartments and in proportion to the actual sales in particular locations and projects. We expect a similar trend to prevail in the year 2012.

Expected Price Movement For 2012:

• OMR - 15-30%

• GST - 10-15%

• City - 20%

• NH-4 - 5-8%

AREAS TO WATCH

• Madhya Kailash - Sholinagnallur
This stretch is witnessing a clear supply-demand mismatch, with demand outstripping supply. With new employment being generated in this corridor and corresponding absorption of IT space, this area and its peripheries are witnessing extremely healthy demand for residential property. Its proximity to the city adds to the appeal of this area, which will see good appreciation over the coming years. Encouragingly (and in contrast to other parts of OMR) all completed projects here are fully occupied.

• Velachery
Velachery is seeing consistent growth, because it is one of the few areas which are seeing holistic and self-sustaining development. With malls and other social infrastructure improving, Velachery is definitely next in line for good appreciation. In fact, near-lying areas such as Medavakkam, Pallikarnai, Pallavaram-Thoriapakkam, the 200 FT. MMRD Road and Rajakilpakkam are already experiencing the positive fallout effect of Velachery's growth as a residential property destination. These areas are also witnessing good absorption and capital appreciation. There is also significant demand for homes in Porur along the NH4 corridor up to Urapakkam on the GST Road.

The writer is Head - Residential Services (Chennai) Jones Lang LaSalle India

QUICK BYTES

• CHENNAI'S RESIDENTIAL PROPERTY MARKET IS PREDOMINANTLY END USER DRIVEN, AND THIS FACT DID A LOT TO SUSTAIN CONSISTENT ABSORPTION THROUGHOUT 2011

• THE PREFERRED SIZE FOR 3BHK FLATS IN CHENNAI HAS INCREASED FROM 1200-1300 SQUARE FEET DURING THE RECESSION TO 1400-1500 SQUARE FEET IN THE REVIVAL PHASE

http://epaper.timesofindia.com/Repository/getimage.dll?path=TOICH/2012/01/28/42/Img/Pc0420500.jpg






http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOICH/2012/01/28&PageLabel=42&EntityId=Ar04200&ViewMode=HTML

Investment by car groups outside Chennai has turned the Indian city into a global auto hub, spurring a housing boom

http://im.media.ft.com/content/images/536798f2-47bc-11e1-9a92-00144feabdc0.img
New development at Mahindra World City (above) and the Mylapore district in Chennai city centre (below), which has changed little

http://im.media.ft.com/content/images/5199edf4-47bc-11e1-9a92-00144feabdc0.img

The South Indian city of Chennai (previously known as Madras) has much to offer: the second-longest beachfront in the world, nearly 400 years of colonial and postcolonial history, and an impressive range of performing arts. It is India’s fourth-largest metropolitan area and the capital of Tamil Nadu, one of India’s most prosperous states.

Over the past decade, it has adopted the tag “Detroit of Asia” without irony. Unlike its shrinking US namesake, Chennai is one of the fastest-growing cities in the world. Investment by car manufacturers such as Ford, Hyundai, BMW, Renault-Nissan, and domestic companies Ashok Leyland and the TVS group, has turned the city into a regional automobile and auto components hub.

The city also boasts another accomplishment: a diverse local economy. Chennai is one of India’s largest exporters of software services, it has a well-developed healthcare industry and serves as a base for textile exporters. But unlike nearby Bangalore, economic growth has not fundamentally altered Chennai’s compact city centre.

IT and manufacturing investments have been made in earmarked corridors outside the city, along arterial roads, such as the East Coast Road, the Grand Southern Trunk Road and the Old Mahabalipuram Road, which have been upgraded into national highways. “Chennai is an old city which grew steadily over time, and has not therefore imploded,” says Lakshmi Venu, director of strategy at Sundaram Clayton, and a fourth-generation member of the family that owns and runs the TVS industrial conglomerate. “It was slower to catch up but its growth has been more sustainable.”

Residential real estate supply reflects changing local demand, both in central neighbourhoods, as well as along its suburban peripheries. “Chennai was always an overgrown village, where many residents had ancestral properties,” says Savita Idnani, a Chennai-based architect. Owners are now converting homes to apartment blocks for greater convenience.

Meanwhile, some old houses are being demolished to make way for apartments to accommodate younger families. “My father built a bungalow in 1974 near Mylapore [the city’s cultural district], and two years ago, my siblings and I converted it into six apartments,” says S Ramadorai, Mumbai-based vice-chairman of Tata Consulting Services, India’s largest software services company.

Building restrictions and small plot sizes prevent high-rise construction in the city centre, resulting in limited supply. Residential sale and lease prices in Chennai’s upmarket neighbourhoods are now equivalent to those in Bangalore, its better-known southern counterpart.

Developers have concentrated on building aspirational homes for a mid-market audience in the city’s new suburbs, at substantially lower rates of approximately Rs3,400 (£44) per sq ft. The most popular format is a set of high-rise towers of two- or three-bedroom apartments, between 1,100 and 1,500 sq ft of built-up area, available for between Rs4m-Rs5m. These gated communities often have a country clubhouse, swimming pools and gymnasium.
Mylapore district in Chennai city

True Value Homes, a local developer, is constructing Chennai’s “tallest residential building” – TVH Ouranya Bay – a 29-floor, 100-metre-high residential property on the IT corridor, estimated to be completed in December. Two-bedroom flats start at Rs4.5m; the penthouse will be Rs14m.

The real estate boom of 2008 and subsequent slowdown of 2009 did not escape residential developers. “Prices have been nearly stagnant in the last six quarters, and there are fewer new mid-market launches and some unsold inventory of 2008,” says Ashutosh Limaye, head of research for the global real estate firm Jones Lang LaSalle in India.

Chennai’s prospects have attracted national real estate developers. Prestige Constructions, a Bangalore-based company, has been active in Chennai for a while. Last week, the company launched a 25-acre scheme for 2,600 units in 33 apartment blocks, scheduled to be completed in three years. The flats will span 600 sq ft studios to 2,500 sq ft four-bedroom units, and are priced at Rs2.7m-Rs12m.

http://im.media.ft.com/content/images/50aee6f6-47bc-11e1-9a92-00144feabdc0.img
Map of Chennai

The Mahindra World City, an hour away from Chennai, is arguably the most ambitious real estate bet on greater Chennai’s future. The 1,500-acre, mixed-use township is backed by the Mumbai-based Mahindra conglomerate, in partnership with state-run Tamil Nadu Industrial Development Corporation. “The goal is to create India’s first integrated business city with a self-sustaining ecosystem for work, home, learning and play; a decongested urban space not in the midst of cities,” says Sangeeta Prasad, the chief executive of Mahindra World City Developers Ltd.

In the 10 years since its inception, 38 businesses have set up in the Mahindra World City, such as Infosys and BMW, employing 27,000 people. Residential construction has been slower, to follow commercial expansion. The first scheme of 200 bungalows and apartments “has seen substantial capital appreciation and rental pull”, says Prasad. Now on offer are two schemes of 700-750 units each: Aqualily – high-end villas, twin homes and apartments, and Iris – mid-market apartments. Prices vary from Rs4m-Rs8m for the apartments and Rs10m-Rs20m for twin houses and villas.

As a city known for its temple culture, preservation of tradition and rooted identity, Chennai is still coming to terms with its new status as a global urban centre. However, its leisure and retail environment reflects its changing demographics. Venu points to the prevalence of Korean shops and restaurants as an example of the city’s multicultural character.

T Chitty Babu, owner of Akshaya Homes, a well-regarded local developer, observes that young people are getting on to the property ladder in their twenties and thirties, unlike earlier generations, who waited until their fifties. The firm is building 2.1m sq ft of residential real estate in the city, in a variety of formats. Top-end three- and four-bedroom apartments in its “36 Carat” residential scheme, near the central business district, range from Rs35m-Rs40m and will be ready later this year.

.....................................................

Buying guide

Pros

● Compact and accessible city centre

● Affordable, varied housing

● Opportunity to enjoy traditional arts and culture

Cons

● Hot, humid climate

●Less westernised than other major Indian cities

● Fewer modern leisure amenities

http://www.ft.com/intl/cms/s/2/b3f29322-4378-11e1-8489-00144feab49a.html

"Less Westernized" it seems. So be it, we'll chalk out our own growth plan.

Yeah I was a little irritated to see that in the "con" section.

"Less Westernized" it seems. So be it, we'll chalk out our own growth plan.

:troll:

Enna pannalam?

Bikini girls 100 peru marina, elliots beach la 24x7 oda vidalam

Ponnunga dress code stockings+skirt, pasanga kizhinju pona tavusar (dead low hip only allowed, otherwise spanking at the spot as punishment)

Stylish graffiti on all centuries old buildings

Only football and rugby should be played.

All autos to be banned and only taxis permitted.

All bharathanatyam and other programs banned. Only ballet allowed.

Carnatic music banned. Only rock music allowed.

^^

Chennai is less westernised becos it is located towards the east.:lol::lol:

^^ :lol:

Thank god for not westernizing. Let us see what the west has brought to the world
1. Colonization
2. Slavery
3. Indentured labor
4. Religious barbarity
5. Wiping out native population by genocide
6. Wiping out the history of indegenous populations ( and make them hate their own past)
7. Religious barbarity
9. Rampant deforestation
10. Concrete Jungles
11. Root cause of Climate change
12. Hole in Ozone
13. and not to forget unwashed ass.es


Do we still want to Westernize. No Thanks. I hope Chennai and Chennai-ites mentally stay in the east for all the time to come.

^^ :lol: at the last point.

Thank god for not westernizing. Let us see what the west has brought to the world
1. Colonization
2. Slavery
3. Indentured labor
4. Religious barbarity
5. Wiping out native population by genocide
6. Wiping out the history of indegenous populations ( and make them hate their own past)
7. Religious barbarity
9. Rampant deforestation
10. Concrete Jungles
11. Root cause of Climate change
12. Hole in Ozone
13. and not to forget unwashed ass.es


Do we still want to Westernize. No Thanks. I hope Chennai and Chennai-ites mentally stay in the east for all the time to come.
:)

http://www.evpworld.com/about.html

http://www.exchange4media.com/45154_evp-world-chooses-challenge-for-theme-park.html

Chennai-based agency Challenge has won the media mandate for the EVP Group of Companies’ latest venture - EVP World Educational and Cultural Theme Park. The win comes on the back of a multi-agency pitch that saw the participation of 8-9 agencies.

EVP Santhosh Reddy, Vice Chairman, EVP Group of Companies, said, “We chose Challenge because of their sound strategy. We have not appointed a creative agency and creatives for the campaign have been designed by our in-house team.”

R Sakthivel, Founder and CEO, Challenge, added here, “The pitch was initiated a month back, and we won the account on the basis of the strength of the strategy that we suggested. An added advantage was that we are an INS accredited agency. Moreover, our successful media plan for other brands established their confidence in us.”

The agency has chalked out the media plan for promotions in the TV, print and radio space. The amusement park is being inaugurated on January 30, 2012 with the campaign going live the same day. Teasers began airing across TV channels and radio stations on January 27.

EVP World is the one of the largest amusement and entertainment parks in Asia, spread over a 100 acres along the Chennai-Bangalore highway. Some of the attractions include ‘Crazy Palace’ (an upside down building with reverse interiors), ‘Ice Land’ (a snow theme park), and a water park, among others.

The EVP Group of Companies is a real estate major with varied business interests in construction, education, agro industries, diamond & jewellery, and import of construction tiles and furniture.

http://www.jeayamshelter.com


http://www.jeayamshelter.com/images/fantac.jpg

Source:http://www.appaswamy.com/brooksdale.htm

http://www.appaswamy.com/images/brooksdale-frontele.jpg

Thank god for not westernizing. Let us see what the west has brought to the world
1. Colonization
2. Slavery
3. Indentured labor
4. Religious barbarity
5. Wiping out native population by genocide
6. Wiping out the history of indegenous populations ( and make them hate their own past)
7. Religious barbarity
9. Rampant deforestation
10. Concrete Jungles
11. Root cause of Climate change
12. Hole in Ozone
13. and not to forget unwashed ass.es


Do we still want to Westernize. No Thanks. I hope Chennai and Chennai-ites mentally stay in the east for all the time to come.

Good one! Can't stop laughing at 13.

Villa, won't you?

http://www.thehindu.com/multimedia/archive/00913/04PP_property_final_913031a.jpg

Wake up to birdsong, go for morning walks without the fear of being run over, read the newspaper without disturbance — these may sound like a dream today, but they don't have to be. Welcome to the gated villas.

The concept of villas is popular in the U.S. and Europe and has only recently come to India. Cities such as Bangalore and Pune were the pioneers, and Chennai is soon catching up.

Looking for alternatives

Earlier, consumers took pride in living in independent houses, but factors such as security made them look at alternatives. A gated villa lets the consumer live in an individual house yet, at the same time, provides them with all the amenities and benefits of apartment living.

Till recently, Chennai lacked good villa projects compared to Bangalore, which had Palm Meadows and Palm Retreat. The reason is non-availability of adequate liveable land in Chennai. Land values are so high that the composite value of a project is beyond the affordable limit or it is situated in a location devoid of basic infrastructure.

There is no dearth of demand for villas in Chennai. Compared to the number of apartments in Chennai, the number of villas on offer is miniscule, says Sivaramakrishnan A.S., Head — Residential Services (Chennai and Bangalore), Jones Lang LaSalle.

Attracting NRIs

Current projects which are on the periphery are attracting mostly NRIs and select investors, who hope the social infrastructure, which is far more developed in Bangalore, would improve by the time they settle down. Mr. Suresh Krishn, Managing Director of Isha Homes, says there is no cost advantage for builders when they take up villa construction in Chennai. However, there are other advantages. Since villas can be constructed only after the sale of a project, the builder does not incur construction costs before the sale. So the risk for builders is far less: they can construct the building only after it has been bought, whereas in apartment complexes, even if a few apartments on some floors are sold, the entire complex needs to be built.

Faster delivery

The time taken to construct villas is far less than for apartments, but taking into account the overall development, including amenities, then the time taken is the same, he says. The approval process is also simpler for villa projects than for multi-storeyed projects, which improves the turnaround time. The delivery of villas is faster because work can be started simultaneously, says Mr. Sivaramakrishnan.

From the buyer's angle, the quality of life in a villa is far better compared to what it is in an apartment. Natural resources such as water and air are shared by less number of people; noise pollution is negligible. Villas can instal solar panels and windmills to create an eco-friendly environment. Not to speak of offering privacy and security.

However, villas, as Mehul Doshi, Director of Doshi Housing, says, come at a premium when compared to apartments. They are at least 30 per cent more expensive than apartments, primarily because the FSI in villa projects is lower. The FSI in a villa project is generally around one, whereas it can be anywhere between 1.5 and 2.5 in case of an apartment project, depending on the width of the abutting road.



http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article2858992.ece

Radiance buys Greaves Cotton property in Chennai suburb

Radiance Realty Developers India Ltd has purchased four acres land from Greaves Cotton for Rs 80 crore to develop the property.

According to a press release from Radiance Realty (formerly NAPC Properties Ltd), the company plans to establish a premium, high-rise residential complex on the property at Thoraipakkam to the South of Chennai on the Old Mahabalipuram Road.

The deal works out to about Rs 4,580 a sq ft in the fast-developing southern suburb.

Radiance Realty is developing more than a million square feet of high-end residential properties spread across prime residential areas in the city and OMR.

It has also begun sales in its exclusive villa project in ECR.

Radiance Realty is promoted and run by Mr Varun Manian whose family recently sold stake their stake in the infrastructure arm NAPC Ltd to Vinci of France, a large construction conglomerate.

Mr Manian will focus on new ventures such as Real Estate and Renewable Energy, the press release said.

http://www.thehindubusinessline.com/companies/article2875965.ece

Another IT building gives way for housing project

http://www.deccanchronicle.com/channels/cities/chennai/another-it-building-gives-way-housing-project-573

Following a glut in supply of office space in the city, builders are taking a second look at their commercial projects.

With the demand shooting up in the residential segment, most builders are keen to convert their erstwhile commercial ventures into housing projects.

A completed commercial IT park on LB Road in Thiruvanmiyur was razed down recently to pave way for residential units by Ramaniyam Real Estate Pvt Ltd.

And the latest to take the alternative route is the Olympia Group that has decided to covert its former IT park venue into residential complexes.

“We had planned an IT park in Pallavaram. But following a slowdown in the segment we decided to convert about 7.5 acres of the land into residential units,” said Mr Ajit Kumar Chordia, MD of Olympia Group.

While the office space supply in Chennai is close to 18 million square feet, the annual offtake has been as low as 4 million square feet for the last two years.

The high vacancy levels in IT office space owing to recession had inhibited builders who have delayed or dropped new proposals.

But this slowdown is a positive trend that could help stabilize the supply to demand equation in the segment, analysts say.

“Also, the Second Master Plan of CMDA allows high-rise building constructions outside Chennai and this impelled us to go ahead with an 11-storey residential complex in the area,” Mr Chordia said. Olympia has unveiled a 780-unit gated community comprising two and three bedroom apartments.

Olympia Grande, a Rs 300-crore project, has been registered for green building certification with Indian Green Building Council and aims at delivery in next three years.

Announcing the company’s future plans, Mr Chordia said the company was also planning a 400-unit premium luxury villa project next week and the launch of its second phase of Opaline apartments in OMR in March.

http://i.imgur.com/kwz5b.jpg

Godrej launches first residential project in Chennai

Godrej Properties (GPL), the real estate arm of Godrej Group, today launched its first venture in Chennai, the Rs 450-crore ‘Godrej Palm Grove’.

Mr Pirojsha Godrej, Executive Director, GPL, said 1,556 modern apartments would come up over 12.5 acres along NH-4 Bengaluru Highway ranging from 1,188 sq.ft. to 1,489 sq.ft.

Armed with a pre-certified gold rating by the Indian Green Building Council, each apartment will cost “roughly” between Rs 50-60 lakh, he told a press conference here.

“Chennai is one of the most important real estate markets in the country and had been doing well for the past several years even when the market had not been so good in other cities,” he said.

He said the project, a joint venture with Addison and Co, would be completed in three to four years.

http://www.thehindubusinessline.com/companies/article2878998.ece?homepage=true&ref=wl_home

Indicating at delays in the approval process for such ventures all over the country, he said governments should understand that such delays could result in escalation of property prices.

The venture will house amenities such as club house and swimming pool among others, he added.

50-60L seems really expensive for that area? Especially considering the apartments are not that big..

^^They are still in the mumbai real estate mind set. Will settle down once they meet the real customers.

^^ the city is expanding towards that side. we have a probable new greenfield airport, country specific industrial hubs and other major investments in that part of the city (expanded city??). But yes, charging 3500+ / sq feet for that area at this point in time is bit too high.

Osian Chlorophyll, giving Chennai the colour green

http://www.groundreport.com/Business/Osian-Chlorophyll-giving-Chennai-the-colour-green/2944204

http://groundreport.com/includes/modules/phpthumb/phpThumb.php?src=01328942805_ARTICLE_IMAGE_chlorophilljpg.jpg&w=185


Nature has somehow taken a back seat in the life of today’s modern man, who has forgotten to enjoy this element that has sustained mankind throughout history. SPR&RG Constructions Pvt Ltd, a fast growing real estate player in the city is planning to bridge that gap through its new project ‘Osian Chlorophyll’ located at Porur, Chennai. Nature has been a core inspiration for the project and the company looks to bring out Mother Nature’s true embrace to the city. The project is being developed on greenery as a philosophy and is aimed at teaching Chennaites to live with nature.



The original meaning of green is trees, plants, bushes, fruits and flowers and that can be seen at Chlorophyll. The other happy by-product of the greenery will be the quality of air. That fresh air originates from a vast expanse of vegetation and it will soon become common property in and around Chlorophyll. The whole neighborhood will benefit from the effect of the four and a half acres of parks, vegetable gardens, herb gardens, flower farms and ornamental gardens. The produce will be harvested and sold at ‘Chlorophyll’.



Clad in all this vegetation will be ten towers of extremely well-appointed air conditioned apartments of various sizes and all the amenities one would expect to find, as well as some that will come as pleasant surprises. In this lush retreat, one can choose from homes that accommodate everyone from bachelors, small families to extended ones. Each one of the 997 apartments will be designed to give a sense of space, comfort and luxury. One of the unique aspects of the project is the 650 meter long jogging track on the terrace connecting all the towers. The other outstanding feature would be the infinity pool on the terrace.



The project is driven by an elite Quartet of Ex-L&T project team having over 70 man years of quality Industry experience. The team is working closely with an award winning team of architects, K.S.Ranganath and team landscaping architects and environmental planners Prabhakar Bhagwat to deliver the project.



SPR&RG Constructions Pvt Ltd is a vibrant and fully integrated real estate developer engaged in acquisition and development of residential and commercial real estate besides executing turnkey infrastructure projects. Their projects have been designed to have a positive impact on urban and social landscape, besides bringing tangible benefits to the local communities, long – term appreciation and increased market leverage on the net worth. Likewise their current project has a few one of a kind amenities and facilities derived from a unique philosophy.

Sabari's Serenity|13 x 9fl|Siruseri

Spread over 9 acres of lush greenery, Sabari’s Serenity has 13 towers which house 864 apartments in a range of 1, 2 and 3 bedroom apartments to choose from.

http://www.sabarifoundation.com/images/serenity_details.jpg

Location

http://www.sabarifoundation.com/images/serenity_locationmap.jpg

Site Plan

http://www.sabarifoundation.com/images/serenity_siteplan.jpg

Construction Pics

http://www.sabarifoundation.com/images/gallery/peepul_one_big.jpg

http://www.sabarifoundation.com/images/gallery/acacia_one_big.jpg

Site: http://www.sabarifoundation.com/gallery.html

Construction Pics

http://www.sabarifoundation.com/images/gallery/peepul_one_big.jpg

http://www.sabarifoundation.com/images/gallery/acacia_one_big.jpg

Site: http://www.sabarifoundation.com/gallery.html

hate this ugly mid rises, why bother with 9 floors make it low rise 3 floors or make it atleast 20 floors (100 m )

The max height allowed also depends on the road width & traffic in that location. Setback width from the perimeter fence also determines the max. height.

The max. height varies from site to site due to these facts. Small area sites will find it difficult to go high.

Property fair will be bigger this time



The annual property fair organised by the Confederation of Real Estate Developers' Association of India (CREDAI) promises to be better and bigger this year. The three-day ‘Fairpro 2012' exhibition, from February 17 at Chennai Trade Centre in Nandambakkam, will have nearly 65 developers showcasing around 250 projects. The projects are priced from Rs.10 lakh to Rs.10 crore.

Addressing a press conference here on Tuesday, N. Nandakumar, Secretary, CREDAI Chennai, said the market now is more stable and more promising than the previous years. “There is no problem with the market as such. If there are any delays in projects, it could be with the builder,” he said.

Talking about some of the challenges faced by the industry, Ajit Kumar Chordia, treasurer, CREDAI Chennai, said the steep increase in the guideline value was going to cause incredible hardship to sellers and buyers. The transaction value is only going to go up because of this.

Mr. Chordia said the industry is still waiting for clarity on the vacant land tax, especially for properties in municipalities.

T.Chitty Babu, president, CREDAI Chennai, said a legal corner would also be available at Fairpro 2012 to help prospective buyers seek any legal clarification.

As a post-Thane relief measure, CREDAI is undertaking planting of saplings on 67 km of the Puducherry – Chidambaram Road. It will also be making a contribution of Rs.2.5 crore to the Chief Minister Relief Fund.

http://www.thehindu.com/news/cities/chennai/article2893898.ece

Skypark|2 x 15fl|Pallavaram-Thoraipakkam Ring Road

http://www.vishwakarmaproperties.com/skypark/bg/1.jpg

http://www.vishwakarmaproperties.com/skypark/bg/2.jpg

Location

http://www.vishwakarmaproperties.com/skypark/images/loc_map.jpg

Demand for residential properties to go up


The stability in Information Technology (IT) and Information Technology Enabled Services (ITES) and the dip in inflation are expected to spur the demand for residential properties in Chennai, according to a real estate research firm.

Siva Krishnan, Head of residential services (Chennai), Jones Lang LaSalle India, told City Express on Friday that Chennai’s residential real estate market this year looked quite rosy. The increased job security in the sector has helped the real-estate market to maintain buoyancy and a positive outlook, he said.� “Over the last 12 months, it has become increasingly evident that Chennai’s residential real estate market is significantly dependent on the IT/ITES sectors. With employment stability in these sectors looking a lot better now than it did in 2010, demand for homes has now reached a comfortable and dependable growth trajectory from which developers are taking their market cues,” he said.
“We expect overall demand for residential properties in Chennai to increase once the interest rates stabilise from their current peak,” Krishnan said, in his report.

He also said FAIRPRO 2012 ( the annual real estate expo of Tamil Nadu) will give a fillip to the real estate market in Chennai in terms of clarity and benefits to the developers.

During the last six months, the real estate sector had taken a hit, as approvals were not happening. T Chitty Babu, President of Confederation of Real Estate Developers’ Associations of India (CREDAI), also highlighted this problem� recently.

However, during the last two months, things have improved and Babu said he feels that FAIRPRO will ride on the stability of the IT and ITES sectors. “We have been receiving a lot of queries from the IT sector since last quarter and this is due to the stability in this sector,” said Babu. He is also hopeful that the timing of the expo, which will begin just before the budget, will give ample time to customers to think and plan their buying decisions accordingly.

Interestingly, the preferred size for three BHK flats in Chennai has increased from 1,200-1,300 square feet during the recession to 1,400-1,500 square feet in the revival phase. The preference size for 2BHK flats has also increased from 850-950 square feet to about 1,100-1,200 square feet. “The main reason for this upgrade in preferences is increase in budgets, which was made possible by improvement in the performance of the IT/ ITES sectors,” Krishnan said.� There is a very healthy demand in the primary and secondary markets, since supply is scarce in both due to the severe lack of land within the city. Land pricing has, in fact, surpassed the buying capacity of developers and this has put pressure on their ability to come up with viable residential products. “Lack of supply and exorbitant pricing are causing both the end users and the investor segments to take a closer look at suburbs with decent infrastructure,” Krishnan said.

http://ibnlive.in.com/news/demand-for-residential-properties-to-go-up/231298-60-120.html

Now a condominium near the airport
Vishwakarma Properties has launched Skypark residences. Soaring 15 ceilings high, the Skypark is a Singapore-style condominium coming up near the airport. A bridge connects the two towers and to top it (quiet literally), will be a swimming pool . The structure, design and amenities have been inspired from condominiums across Singapore. "Indians are gearing up for a new lifestyle and we want to provide them with world-class amenities and a unique lifestyle concept to satiate their changing needs", says Mr Shanker, Managing Director of Vishwakarma Properties. "We are concentrating not just on the concept of an international condominium, but our focus is also on timely delivery and attention to detail." The project is expected to be completed within 24 months, from the launch date. The construction is done by the infrastructure wing of Vishwakarma, Mayan infrastructure.

Located just off GST on the 200ft Pallavaram, Thuraipakkam ring road (Gateway to the IT corridor), the project is only 3.5km from the airport and a stone's throw from railway station, schools, colleges and shopping.

Configuration: 3BHK -1371/1437/1377/2328/2323 sq.ft (101 nos); 2BHK - 1064/1120 sq.ft (100 nos)

6 exclusive Top Floor Penthouses – 2512/2172 sq.ft. with private terrace.
http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article2905285.ece

Godrej's first project in the city
Godrej Properties announces the launch of its first project in Chennai. The Mumbai-based real estate developer launches Godrej Palm Grove, located on the NH-4 Bengaluru highway about 25 kms from the city. Godrej Palm Grove is within the Chennai Metropolitan Development

Authority (CMDA) limits.
http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article2905278.ece
Spread across 12.5 acres, this premium residential project consists of 16 and 19 storey towers, offering a total of 1,556 modern apartments. Customers can choose from two and three bedroom apartments that range between 1,188 sq. ft and 1,489 sq. ft.

Pirojsha Godrej, Executive Director, Godrej Properties, in a press conference here says that Godrej Palm Grove is designed to combine luxury and convenience.

It has been pre-certified Gold by the Indian Green Building Council (IGBC). Larsen & Toubro, India's leading construction firm will construct this project. It is a joint venture with Addison & Co.

Jamals launches two projects
Chennai: Jamals has launched two residential projects “Jamals Luxor” at Kattupakkam and “Jamals Sana Homes” at Poonamallee.

Jamals Luxor is strategically situated right at Kattupakkam junction, close to Poonamallee and Porur.

Jamals Luxor consists of a wide range of two and three bedroom apartments, artistically designed.

All the 130 apartments are infused with modern amenities and highquality specifications. Jamals Luxor comes with modern amenities like Children play area, jogging track, Fitness Centre and Indoor / Outdoor recreational facilities.

Jamals Sana Homes comprising 54 two and three bed room apartments is located on the Poonamallee high road, next to the Blind School.
http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article2905281.ece

TN to appoint consultant for satellite town soon

http://timesofindia.indiatimes.com/city/chennai/TN-to-appoint-consultant-for-satellite-town-soon/articleshow/11955060.cms

CHENNAI: The residents of Kuthambakkam and Narasingapuram in Tiruvallur have vowed to leave no stone unturned to make sure that the state government drops the `2,160 crore Thirumazhisai township project. However, the government is very keen to finalize a consultant within a fortnight to prepare a feasibility study for the satellite town. The Tamil Nadu Urban Infrastructure and Financial Services Limited, at the behest of the Tamil Nadu Housing Board (TNHB), is now evaluating the bids submitted by 12 agencies/individuals to build an integrated township in 311.05 acres. The land spread across Kuthambakkam, Narasingapuram, Pravatharajapuram and Vellavedu was already acquired by the TNHB .

"We are keen on the project. Concerns of the landowners will be addressed soon," a senior government official said. The board has also begun the process of acquiring 12.87 acres for laying approach roads. As owning a plot or flat has gone beyond the reach of the poor and middle income families in the expanding city, chief minister J Jayalalithaa told the state assembly in September 2011 that the state would take up housing projects like Thirumazhisai satellite town project to support the economically weaker section, and middle-income families.

The 12,000-unit town would come up close to the Chennai-Bangalore national highway. The consultant will have to prepare at least three feasibility reports with various models/concepts. At least 60% of the township area falls in Kuthambakkam village, and the rest in the other three villages. "A recent meeting between district revenue officials and land owners was futile, with the latter daring to end their lives to protest the takeover of their lands for approach roads, as well as lands already acquired," said a revenue official of Poonamallee Taluk. Though 112 acres in Kuthambakkam was transferred to TNHB eight years ago, villagers still raise crops on the land.

R Elango, ex-president of Kuthambakkam village, who is spearheading the protest, said, "Why should the government take away our farm land? The need of a satellite town is inevitable, but not at the cost of disturbing farmers' livelihoods. It will also pose a lot of environmental hazards since the project site is close to the Chembarambakkam reservoir."

1 BHKs become popular in Chennai

http://content.magicbricks.com/1bhks-become-popular-in-chennai?fromSite=toi&utm_source=toi&utm_medium=referral&utm_campaign=toi-mb-whitelabel

With soaring property prices and high disposable incomes among young working professionals, one bedroom flats (1BHKs) are gradually becoming popular among end-users and investors alike.

Chennai, as any real estate expert will tell you, has always been an end-user-driven market. Which is precisely why 2BHKs (bedroom hall kitchen) and 3 BHKs continue to be popular here, thanks to the fact that Chennaiites have conventionally moved in with their families and preferred larger spaces.

However, parallel to the booming market for 2 and 3 BHKs, a small but steady market for 1 BHKs has evolved over the last few years. One of the reasons cited is the CMDA’s (Chennai Metropolitan Development Authority) mandate to reserve 10% of the space in larger projects for economically weaker sections (EWS). As Rajkumar Kamdar, Director, Prince Foundations, points out, “According to the provisions under CMDA’s Second Master Plan, projects spread across 2.5 acres or more must reserve 10% of their area for construction of 45 sq m units (or less) for EWS. Only one bedroom apartments can be constructed in that space. And since 2 BHKs and 3 BHKs are out of reach for the EWS (and the general public, at large), most of them feel that it makes economic sense to purchase a one bedroom apartment.”

But do these apartments necessarily cater to the EWS category? How many of them can really afford an apartment, no matter how small? Mehul Doshi, MD of Doshi Builders, believes that it depends on the location of the project. “One bedroom apartments in the heart of the city are definitely not affordable. But those in the suburbs and outskirts of the city are well within their reach,” he explains. Doshi clarifies that CMDA’s norm classifies these apartments based on size, not necessarily on income levels of buyers. So who are the buyers? Deepak Shah, Senior VP – Sales and Marketing, Prestige Estates Projects Ltd, says, “The buyer profile includes newly married couples, single working professionals from the IT sector, etc.”

These apartments also come to the rescue of bachelors (from the city and other places) who find it difficult to rent a place in the city. Suresh Jain, MD, Vijayshanthi Builders, says, “With the IT boom and the consequent influx of MNCs, owners/developers have been leasing out one bedroom apartments on OMR, GST, etc, to companies. Besides, a lot of young working professionals (from other cities) purchase one bedroom apartments in these areas and dispose of it once they leave the city.” Kamdar agrees that this is becoming a prominent trend. He says, “It serves as a small ticket investment for these working professionals. They pay EMIs instead of rentals, and since these apartments do not cost much, they do not feel financially burdened. They can either decide to keep the apartment and rent it out, when they leave, or sell it as per the market value.” Besides, with changing lifestyles and family structures, the single bedroom concept has found many takers from the younger generation.

As Deepak points out, “The emergence of nuclear families, growing trend of single men and women preferring to stay on their own, high income levels of buyers and the influx of people from other states who are keen on investing in apartments here, as opposed to paying rent, has led to an increase in demand for one BHKs.”

Whether as an investment or rental option, the saleability of one bedroom apartments cannot be overlooked. Take the Prestige Group, for instance. Their new project Bella Vista in Porur has 600 1 BHK apartments, each of which is about 600 sq ft in size. These apartments cost 25 lakhs onwards. Similarly, Osian Chlorophyll, by SPR &RG Constructions, in Porur has 232 single bedroom apartments (665 sq ft each) costing 29.9 lakhs onwards.

Prince Foundations’ Prince Village in Tondiarpet sold out its one bedroom apartments on the first day of its launch. Almost all projects have recorded good sales of one bedroom apartments. While exclusive projects for single bedroom flats may not be in the offing anytime soon in Chennai, developers are waking up to the potential of this segment. Mehul Doshi says, “We launched Doshi Etopia II on OMR a few months ago, and this project has 40 single bedroom apartments, most of which are sold. We’re planning to launch a project consisting of studio apartments and 1 BHKs in Perungudi very soon.”

Deepak Shah is of the opinion that the sector is set to grow further. He says, “As the city is on the fast track to growth and industrialisation, thanks to the booming IT, service and automobile sectors, demand for smaller houses, especially in the age group of 25 to 30, will grow.”

While many developers believe that single bedroom apartments are in vogue, thanks to CMDA’s mandate, some like Rajesh Babu, chief real estate consultant, RECS Group, are sceptical. He points out that single bedroom apartments were popular decades ago, when the apartment concept in the city came into existence. “With the introduction of G (ground floor) +3 or multistoried buildings, 2 and 3 bhk apartments grew in popularity. However, now, as per the second master plan, single bedroom flats have made a comeback of sorts but their proportions continue to be less and they cater to a small section of buyers. It will take ages for our city to even match the volumes that Mumbai, for instance, has recorded, in terms of single bedroom apartments that are popular there for a variety of reasons,” he explains.

Sandeep Pantvaidya, VP – Marketing, Sales and CRM, SPR & RG Constructions, also agrees that 2 and 3 BHKs continue to be the preferred choices. “While there is an opportunity to rent or sell single bedroom apartments as serviced apartments, it is still in its nascent stage. There isn’t much scope for further growth in this sector, otherwise.”

Opinions are divided on the growth prospects for single bedroom apartments in the city. While comparisons to the market in Mumbai may be unrealistic, at the moment, it is however, clear that the needs of a certain section of buyers are being addressed through single bedroom apartments. Where is it projected to go from here? Only time will tell.

A round-up from FAIRPRO 2012


Quote:

Adroit Urban Developers

Montage - Thalambur,OMR - 3600/sqft
Essence - Nungambakkam - 21000/sqft
Coimbatore
Ivory - R.s.Puram 6750/sqft
Altius - Gandhipuram - 4950/sqft

Agni Estates

Pride - Teynampet - 12000/sqft
Lakshmi Kripa II - Chrompet - 3775/sqft
Lakshya Kripa - OMR - 3150/sqft

Akshaya

January - OMR - 3000-3300/sqft

Alliance Group

Orchid Springs - Thirumangalam - 4995/sqft
Bougainvillea II - Porur - 7000/sqft appx

Arihant Foundations

Villa Viviana - Maramalai nagar
Luxury Villa - 4750/sqft, Style Villa - 4250/sqft, Terrace Villa - 3800/sqft
Panache - Arumbakkam - 9500/sqft
Frangipani - Siruseri,OMR - 3200/sqft
Jashn - Egmore - 15500/sqft

Arun Excello

Estancia - GST - 3650,3950,4450/sqft
Temple Green - Oragadam - 2549/sqft
Lathangi - Oragadam - 2210/sqft

Asvini Foundations

Atvarika - Kelambakkam - 3500/sqft
Akila Heights - Sembakkam - 4000/sqft
NRD Towers - 3200/sqft
Amanya - Nellikuppam - 1895/sqft
Ashvita - Siruseri - 3500/sqft
Amarisa-phase2 - Ramapuram - 5750/sqft

Baashyam

Happy Windows - Kattupakkam - 3750/sqft

BBCL

Sand Shore Villa - Palavakkam,ECR - 10425/sqft
Sukhin - Thiruvanmiyur - 10000/sqft
Harsham - Thoraipakkam - 5000/sqft
Ojas - T.Nagar - 16000/sqft
Thejus - Ambattur - 4200/sqft

Casa Grande

Versailes Amar Villas - Uthandi,ECR - 7000/sqft
Coral Reef - Thiruvanmiyur - 9250/sqft
Maple - Adyar - 10000/sqft
White Oak - Adyar - 10500/sqft

CeeDeeyes

Chennai Pattinam - Thiruporur - 2400/sqft

Devinarayan

Vaishnovi - tirumullaivoyal - 4120/sqft
Aikya - Kilpauk - 12830/sqft
Karapakkam - 4600/sqft
Mandaveli - 13830/sqft
Velachery - 5645/sqft
Kotturpuram - 9155/sqft

Embassy

Embassy Residency - Perumbakkam - 3649/sqft(2BHK),3749/sqft(3BHK)

ETA Star

Wings Haven - Plots,OMR - 2200/sqft
Le Chalet - Sriperambudur - Villas
Trinity -27 Lakhs(2BHK) 30 Lakhs(3BHK)
Twin Ridge - 42 Lakhs(3BHK)
Elite Crux - 36 Lakhs, Indepedent - 62 Lakhs
GlobeVill - Sriperambudur - 3000/sqft
Rosedale - OMR - 3400/sqft

Ganga Foundations

Ishana - Kolathur - 4995/sqft
Ragamalika - Tambaram West - 2950/sqft
Anandam - Chithlapakkam - 3950/sqft

Golden Homes

Opulence - Poonamalee High Rd - 3299/sqft
Trove - Poonamalee High Rd - 3200/sqft
King's Court - Anna Nagar - 12000/sqft
Aura - Anna Nagar - 9500/sqft

Godrej Properties

Palm Grove - Chembarambakkam - 3300/sqft

Green Peace

Silver Springs - Alandur -6750/sqft
Bryan Court - K.K.Nagar - 9000/sqft
Anna Nagar - 11500/dqft
Korattur - 6500/sqft
Chengalpattu Plots - 550/sqft

Inno Geocity

Geocity II Sector - 2750-2900/sqft

Isha Homes

Isha Yara - Medavakkam - 3575/sqft
Isha Mia Villas - Pudupakkam - 4900/sqft

Jain Housing

Westminister - Saligramam - 6245-6445/sqft
Alpine Meadows - Thiruneermalai - 3495,3595,3695/sqft
Pebble Brook - Thoraipakkam - 4195,4395/sqft
Inseli Park - OMR - 2895,2995,3095/sqft
Spring Meadows - Thalambur,OMR - 3045-3145/sqft
Antariksa - Kodambakkam - 6995/sqft
Avenue - Chitalapakkam - 3495/sqft

Jamal

Sana Homes - Poonamalee - 3950/sqft

JBM Shelters

Mudra - Perungudi - 5000/sqft

KGEYES

Besant Nagar - 13750/sqft
East Anna Nagar - 10000/sqft
Royapettah - 14500/sqft
Ekkathuthangal - 8750/sqft
Madambakkam - 3500/sqft

KGS Developers

Vrudhi - Kilpauk - 15500/sqft
Sunnyside - Siruseri - 3750/sqft
Primrose - Pallikarnai - 4500/sqft
Springfield - Thalambur - 36.5 Lakhs

Larsen & Toubro

Eden Park - Siruseri,OMR - 3750/sqft

Lancor Holdings

Abode Valley - Potheri,GST - 3375/sqft
The Courtyard - Nanganallur - 8500/sqft
Cirrus - Valasaravakkam - 9500/sqft

Landmark Construction

Vertica - Gopalapuram - 15000/sqft
The Grange Villa - Palavakkam - 10500/sqft
Orlando,Aspects - Korattur - 6500/sqft
Tivoli - Mogappair - 6500/sqft
Centralia - Chrompet - 3950/sqft

Mahindra Lifespaces

Mahindra World City - GST - Apartments - 3250/sqft
Aqualily Villas - Land - 1700/sqft Construction Cost- 3100/sqft

Malles Constructions

Jayshri - T.Nagar - 12700/sqft
Alankar - Manapakkam - 6000/sqft
Arcadiaa - Velachery - 6000/sqft

Mantri Developers

Synergy - OMR - 3790/sqft
Navaratna - Chrompet - 3990/sqft

Natwest

Aura - Urapakkam - 3300/sqft

Navin's

Golden Glade - T.Nagar - 15000/sqft
Sprngfield - Medavakkam - 3600/sqft
Jayaram Gardens - Manapakkam - 6100/sqft
Palm Fronds Villas - Karapakkam - 6590/sqft
Maris Dale - Semmenchery,OMR - 3950/sqft
Srishti - Keelkattalai - 5500/sqft
Eden Park - Gerugambakkam - 4990/sqft

Newry Properties

Sampreeti - Kilpauk - 12000/sqft
Sobhita - Pallikarnai - 4500/sqft
Sudeepta - Mogappair - 7000/sqft
Park Towers - Anna Nagar West - 9000/sqft

Olympia

Opaline - OMR - 3800/sqft
Grande - Pallavaram - 5200/sqft

Om Shakthy Developers

Santha Towers - Avadi - 2900/sqft
Temple Nagar - Kundrathur - 2599/sqft

Ozone Group

Metrozone - Anna Nagar - 8250/sqft

PACE Builders

Prana - Anna Nagar West Extn - 7995/sqft
Adarsa - Selaiyur - 4295/sqft
Acyuta - Maduravoyal - 3995/sqft
Anusa - Tambaram West - 3395/sqft

Pacifia

Aurum - Padur,OMR - 3000/sqft

Plaza Group

Pristine Acres - Perumbakkam - 3250/sqft
Opulence - Perungudi - 5500/sqft

Prestige Group

Bella Vista - Porur - 4400/sqft

Puravankara

Windermere - Pallikarnai - 3549/sqft
Swanlake - OMR - 3125/sqft

Pushkar Properties

Lily's Enclave,Imayal,Royal Court - Anna Nagar - 12000/sqft
Anantha - Kilpauk - 12000/sqft
Silver Stones,Soundarya Enclave,Aiswarya Enclave - Korattur - 7500/sqft
Manasarovar - Pallikarnai - 5000/sqft
Anusha - Chrompet - 4750/sqft

Rajparis

Crystal Spring - Madambakkam - 3400/sqft

Rajarathnam Construction

Royal Grande - Ambattur-Thirumullaivoyal - 3200/sqft
Wood Side - Ambattur-Thirumullaivoyal - 3300/sqft

Rajkham

Orchid - Ayyappanthangal - 3800/sqft
Anurup - Pallikarnai - 3400/sqft
Akash Ganga - Pallikarnai - 3800/sqft

Ramky Wavoo Developers (RWD)

Elyusium - Kelambakkam - 3150/sqft
Avalon - Nungambakkam - 11000/sqft
Atlantis - Nelson Manickam Rd - 10000/sqft
Ecopolis plots - vedanthangal - 150/sqft

Real Value

Neel Kamal - OMR - 3399-3499/sqft
Padmalaya - Kelambakkam - 3056-3326/sqft
Sai Skanda - Velachery - 1.30 Crores

Regaliaa Realty

The Ferns Villa - Thiruvidanthai,ECR - 6930/sqft, stall offer: 6660/sqft

ROMAA Housing

Romaa Paradise - Poonamalee - 2950/sqft

Ruby Builders

Ashok Manor - Tambaram west - 3800/sqft
Ashok Manor - Pallikarnai - 4200/sqft
Ruby Avenue - Irumbuliyur,Tambaram - 2600/sqft
Ruby Enclave - Old Perungalathur - 3000/sqft

S & S Foundation

Solitaire - Porur - 5950/sqft
Sarvam - Velachery - 4750/sqft
Sai Sarvesh - Mylapore - 14000/sqft

Shriram Properties

Shankari - Perumatunallur,Guduvanchery - 2400/sqft (2/3BHK),2250/sqft (IBHK)

Sobha Developers

Meritta - OMR - 3770/sqft
Serene - Porur - 4625/sqft

Sidharth Housing

The Nest - Rajakilpakkam - 3800/sqft
Dakshin - Urapakkam - 3200/sqft

South India Shelters (S.I.S)

Marakesh - Urapakkam - 3150/sqft
Safaa - Urapakkam - 3650/sqft

SPRRG

Osian Heights - Mint - 8000/sqft
Osian Chlorophyll - Porur - 4500-5000/sqft

Sreerosh Properties

Meadows - Anakaputhur - 3200/sqft
Silver Stone - Kilpauk - 10000/sqft

SSPDL

Lakewood Enclave Villas - Thalambur,OMR - 5500/sqft
Mayfair - Vandalur-Kelambakkam Rd - 3250/sqft

Tata Housing

Crescent Lake Homes - Oragadam - 2910/sqft (1BHK), 3250/sqft (2BHK)

TVH

Lumbini Square - Purasawakkam - 11500/sqft
Ouranya Bay - Padur,OMR - 3400-3600/sqft
Svasti - Thoraipakkam - 4750/sqft
Taus - Navalur,OMR - 4000/sqft
Battika - Alwarpet - 17000/sqft

Unitech

Uni Homes 1 - Nallambakkam - 2250/sqft
Uni Homes 1 - Nallambakkam - 2350/sqft
Gardens - 2800/sqft
North Town - Perambur - 5300/sqft

VGN

Brixton - Irungattukottai - 2085/sqft
Platina - Ambattur - 3000/sqft
Krona - Porur - 3595/sqft
Imperia - Maduravoyal - 3899/sqft

Vishwakarma

Skypark Residences - Pallavaram - 4850/sqft

Voora

Vidyasagar Oswal Garden - Korukkupet,near Central Station - 4050/sqft
GitanJali - T.Nagar - 15500/sqft
Mandaram Enclave - 10500/sqft

Yuga Homes

Kalpataru - Koyambedu - 5400/sqft
Altavda - Thaiyur - 2750/sqft


The general mood in the exhibition was upbeat and most of the builders claimed very good sales. For ongoing projects, Price has stagnated and remains the same since the hike in late 2011. Many new projects have been launched and they have been marked up by another 10-15%. Projects were focussed along Porur-Poonamalee Stretch.

comparative price trends for the past 3 years is as under.

FAIRPRO 2009 : Price Trends in Chennai - February 2009
FAIRPRO 2010 : http://www.indianrealestateforum.com/58298-post407.html
FAIRPRO 2011 : http://www.indianrealestateforum.com...1-post466.html

Nice compilation! TFS Ranga sir..

Today's Property Show - Where to buy in Central Mumbai and Chennai


http://www.ndtv.com/video/player/the-property-show/todays-property-show-where-to-buy-in-central-mumbai-and-chennai/224299?pfrom=home-topstories


^^

They are ofcourse highlighting the places to buy in different areas.....
What was interesting is that they were telling that Ramachandra - Harvard joint buisness venture is coming up in Porur Chennai! That should be some interesting investment indeed!!!

Today's Property Show - Where to buy in Central Mumbai and Chennai


http://www.ndtv.com/video/player/the-property-show/todays-property-show-where-to-buy-in-central-mumbai-and-chennai/224299?pfrom=home-topstories


^^

They are ofcourse highlighting the places to buy in different areas.....
What was interesting is that they were telling that Ramachandra - Harvard joint buisness venture is coming up in Porur Chennai! That should be some interesting investment indeed!!!
Already Porur-Poonamallee is choked. hm..interesting..
2006 itself, sterling's project costed 32 lakh for 1000 sq. feet apartment in kattupakkam..:nuts:

Nice compilation.. Ranga..

A round-up from FAIRPRO 2012


Quote:

Adroit Urban Developers

Montage - Thalambur,OMR - 3600/sqft
Essence - Nungambakkam - 21000/sqft
Coimbatore
Ivory - R.s.Puram 6750/sqft
Altius - Gandhipuram - 4950/sqft

Agni Estates

Pride - Teynampet - 12000/sqft
Lakshmi Kripa II - Chrompet - 3775/sqft
Lakshya Kripa - OMR - 3150/sqft

Akshaya

January - OMR - 3000-3300/sqft

Alliance Group

Orchid Springs - Thirumangalam - 4995/sqft
Bougainvillea II - Porur - 7000/sqft appx

Arihant Foundations

Villa Viviana - Maramalai nagar
Luxury Villa - 4750/sqft, Style Villa - 4250/sqft, Terrace Villa - 3800/sqft
Panache - Arumbakkam - 9500/sqft
Frangipani - Siruseri,OMR - 3200/sqft
Jashn - Egmore - 15500/sqft

Arun Excello

Estancia - GST - 3650,3950,4450/sqft
Temple Green - Oragadam - 2549/sqft
Lathangi - Oragadam - 2210/sqft

Asvini Foundations

Atvarika - Kelambakkam - 3500/sqft
Akila Heights - Sembakkam - 4000/sqft
NRD Towers - 3200/sqft
Amanya - Nellikuppam - 1895/sqft
Ashvita - Siruseri - 3500/sqft
Amarisa-phase2 - Ramapuram - 5750/sqft

Baashyam

Happy Windows - Kattupakkam - 3750/sqft

BBCL

Sand Shore Villa - Palavakkam,ECR - 10425/sqft
Sukhin - Thiruvanmiyur - 10000/sqft
Harsham - Thoraipakkam - 5000/sqft
Ojas - T.Nagar - 16000/sqft
Thejus - Ambattur - 4200/sqft

Casa Grande

Versailes Amar Villas - Uthandi,ECR - 7000/sqft
Coral Reef - Thiruvanmiyur - 9250/sqft
Maple - Adyar - 10000/sqft
White Oak - Adyar - 10500/sqft

CeeDeeyes

Chennai Pattinam - Thiruporur - 2400/sqft

Devinarayan

Vaishnovi - tirumullaivoyal - 4120/sqft
Aikya - Kilpauk - 12830/sqft
Karapakkam - 4600/sqft
Mandaveli - 13830/sqft
Velachery - 5645/sqft
Kotturpuram - 9155/sqft

Embassy

Embassy Residency - Perumbakkam - 3649/sqft(2BHK),3749/sqft(3BHK)

ETA Star

Wings Haven - Plots,OMR - 2200/sqft
Le Chalet - Sriperambudur - Villas
Trinity -27 Lakhs(2BHK) 30 Lakhs(3BHK)
Twin Ridge - 42 Lakhs(3BHK)
Elite Crux - 36 Lakhs, Indepedent - 62 Lakhs
GlobeVill - Sriperambudur - 3000/sqft
Rosedale - OMR - 3400/sqft

Ganga Foundations

Ishana - Kolathur - 4995/sqft
Ragamalika - Tambaram West - 2950/sqft
Anandam - Chithlapakkam - 3950/sqft

Golden Homes

Opulence - Poonamalee High Rd - 3299/sqft
Trove - Poonamalee High Rd - 3200/sqft
King's Court - Anna Nagar - 12000/sqft
Aura - Anna Nagar - 9500/sqft

Godrej Properties

Palm Grove - Chembarambakkam - 3300/sqft

Green Peace

Silver Springs - Alandur -6750/sqft
Bryan Court - K.K.Nagar - 9000/sqft
Anna Nagar - 11500/dqft
Korattur - 6500/sqft
Chengalpattu Plots - 550/sqft

Inno Geocity

Geocity II Sector - 2750-2900/sqft

Isha Homes

Isha Yara - Medavakkam - 3575/sqft
Isha Mia Villas - Pudupakkam - 4900/sqft

Jain Housing

Westminister - Saligramam - 6245-6445/sqft
Alpine Meadows - Thiruneermalai - 3495,3595,3695/sqft
Pebble Brook - Thoraipakkam - 4195,4395/sqft
Inseli Park - OMR - 2895,2995,3095/sqft
Spring Meadows - Thalambur,OMR - 3045-3145/sqft
Antariksa - Kodambakkam - 6995/sqft
Avenue - Chitalapakkam - 3495/sqft

Jamal

Sana Homes - Poonamalee - 3950/sqft

JBM Shelters

Mudra - Perungudi - 5000/sqft

KGEYES

Besant Nagar - 13750/sqft
East Anna Nagar - 10000/sqft
Royapettah - 14500/sqft
Ekkathuthangal - 8750/sqft
Madambakkam - 3500/sqft

KGS Developers

Vrudhi - Kilpauk - 15500/sqft
Sunnyside - Siruseri - 3750/sqft
Primrose - Pallikarnai - 4500/sqft
Springfield - Thalambur - 36.5 Lakhs

Larsen & Toubro

Eden Park - Siruseri,OMR - 3750/sqft

Lancor Holdings

Abode Valley - Potheri,GST - 3375/sqft
The Courtyard - Nanganallur - 8500/sqft
Cirrus - Valasaravakkam - 9500/sqft

Landmark Construction

Vertica - Gopalapuram - 15000/sqft
The Grange Villa - Palavakkam - 10500/sqft
Orlando,Aspects - Korattur - 6500/sqft
Tivoli - Mogappair - 6500/sqft
Centralia - Chrompet - 3950/sqft

Mahindra Lifespaces

Mahindra World City - GST - Apartments - 3250/sqft
Aqualily Villas - Land - 1700/sqft Construction Cost- 3100/sqft

Malles Constructions

Jayshri - T.Nagar - 12700/sqft
Alankar - Manapakkam - 6000/sqft
Arcadiaa - Velachery - 6000/sqft

Mantri Developers

Synergy - OMR - 3790/sqft
Navaratna - Chrompet - 3990/sqft

Natwest

Aura - Urapakkam - 3300/sqft

Navin's

Golden Glade - T.Nagar - 15000/sqft
Sprngfield - Medavakkam - 3600/sqft
Jayaram Gardens - Manapakkam - 6100/sqft
Palm Fronds Villas - Karapakkam - 6590/sqft
Maris Dale - Semmenchery,OMR - 3950/sqft
Srishti - Keelkattalai - 5500/sqft
Eden Park - Gerugambakkam - 4990/sqft

Newry Properties

Sampreeti - Kilpauk - 12000/sqft
Sobhita - Pallikarnai - 4500/sqft
Sudeepta - Mogappair - 7000/sqft
Park Towers - Anna Nagar West - 9000/sqft

Olympia

Opaline - OMR - 3800/sqft
Grande - Pallavaram - 5200/sqft

Om Shakthy Developers

Santha Towers - Avadi - 2900/sqft
Temple Nagar - Kundrathur - 2599/sqft

Ozone Group

Metrozone - Anna Nagar - 8250/sqft

PACE Builders

Prana - Anna Nagar West Extn - 7995/sqft
Adarsa - Selaiyur - 4295/sqft
Acyuta - Maduravoyal - 3995/sqft
Anusa - Tambaram West - 3395/sqft

Pacifia

Aurum - Padur,OMR - 3000/sqft

Plaza Group

Pristine Acres - Perumbakkam - 3250/sqft
Opulence - Perungudi - 5500/sqft

Prestige Group

Bella Vista - Porur - 4400/sqft

Puravankara

Windermere - Pallikarnai - 3549/sqft
Swanlake - OMR - 3125/sqft

Pushkar Properties

Lily's Enclave,Imayal,Royal Court - Anna Nagar - 12000/sqft
Anantha - Kilpauk - 12000/sqft
Silver Stones,Soundarya Enclave,Aiswarya Enclave - Korattur - 7500/sqft
Manasarovar - Pallikarnai - 5000/sqft
Anusha - Chrompet - 4750/sqft

Rajparis

Crystal Spring - Madambakkam - 3400/sqft

Rajarathnam Construction

Royal Grande - Ambattur-Thirumullaivoyal - 3200/sqft
Wood Side - Ambattur-Thirumullaivoyal - 3300/sqft

Rajkham

Orchid - Ayyappanthangal - 3800/sqft
Anurup - Pallikarnai - 3400/sqft
Akash Ganga - Pallikarnai - 3800/sqft

Ramky Wavoo Developers (RWD)

Elyusium - Kelambakkam - 3150/sqft
Avalon - Nungambakkam - 11000/sqft
Atlantis - Nelson Manickam Rd - 10000/sqft
Ecopolis plots - vedanthangal - 150/sqft

Real Value

Neel Kamal - OMR - 3399-3499/sqft
Padmalaya - Kelambakkam - 3056-3326/sqft
Sai Skanda - Velachery - 1.30 Crores

Regaliaa Realty

The Ferns Villa - Thiruvidanthai,ECR - 6930/sqft, stall offer: 6660/sqft

ROMAA Housing

Romaa Paradise - Poonamalee - 2950/sqft

Ruby Builders

Ashok Manor - Tambaram west - 3800/sqft
Ashok Manor - Pallikarnai - 4200/sqft
Ruby Avenue - Irumbuliyur,Tambaram - 2600/sqft
Ruby Enclave - Old Perungalathur - 3000/sqft

S & S Foundation

Solitaire - Porur - 5950/sqft
Sarvam - Velachery - 4750/sqft
Sai Sarvesh - Mylapore - 14000/sqft

Shriram Properties

Shankari - Perumatunallur,Guduvanchery - 2400/sqft (2/3BHK),2250/sqft (IBHK)

Sobha Developers

Meritta - OMR - 3770/sqft
Serene - Porur - 4625/sqft

Sidharth Housing

The Nest - Rajakilpakkam - 3800/sqft
Dakshin - Urapakkam - 3200/sqft

South India Shelters (S.I.S)

Marakesh - Urapakkam - 3150/sqft
Safaa - Urapakkam - 3650/sqft

SPRRG

Osian Heights - Mint - 8000/sqft
Osian Chlorophyll - Porur - 4500-5000/sqft

Sreerosh Properties

Meadows - Anakaputhur - 3200/sqft
Silver Stone - Kilpauk - 10000/sqft

SSPDL

Lakewood Enclave Villas - Thalambur,OMR - 5500/sqft
Mayfair - Vandalur-Kelambakkam Rd - 3250/sqft

Tata Housing

Crescent Lake Homes - Oragadam - 2910/sqft (1BHK), 3250/sqft (2BHK)

TVH

Lumbini Square - Purasawakkam - 11500/sqft
Ouranya Bay - Padur,OMR - 3400-3600/sqft
Svasti - Thoraipakkam - 4750/sqft
Taus - Navalur,OMR - 4000/sqft
Battika - Alwarpet - 17000/sqft

Unitech

Uni Homes 1 - Nallambakkam - 2250/sqft
Uni Homes 1 - Nallambakkam - 2350/sqft
Gardens - 2800/sqft
North Town - Perambur - 5300/sqft

VGN

Brixton - Irungattukottai - 2085/sqft
Platina - Ambattur - 3000/sqft
Krona - Porur - 3595/sqft
Imperia - Maduravoyal - 3899/sqft

Vishwakarma

Skypark Residences - Pallavaram - 4850/sqft

Voora

Vidyasagar Oswal Garden - Korukkupet,near Central Station - 4050/sqft
GitanJali - T.Nagar - 15500/sqft
Mandaram Enclave - 10500/sqft

Yuga Homes

Kalpataru - Koyambedu - 5400/sqft
Altavda - Thaiyur - 2750/sqft


The general mood in the exhibition was upbeat and most of the builders claimed very good sales. For ongoing projects, Price has stagnated and remains the same since the hike in late 2011. Many new projects have been launched and they have been marked up by another 10-15%. Projects were focussed along Porur-Poonamalee Stretch.

comparative price trends for the past 3 years is as under.

FAIRPRO 2009 : Price Trends in Chennai - February 2009
FAIRPRO 2010 : http://www.indianrealestateforum.com/58298-post407.html
FAIRPRO 2011 : http://www.indianrealestateforum.com...1-post466.html

Some points
OMR and ORAGADAM did not go up by a lot
Only thing that went up in OMR is ETA star plot doubled in 2 years from 1050 to 2200

15000 is norm in upscale city area from 10000

Today's Property Show - Where to buy in Central Mumbai and Chennai


http://www.ndtv.com/video/player/the-property-show/todays-property-show-where-to-buy-in-central-mumbai-and-chennai/224299?pfrom=home-topstories


^^

They are ofcourse highlighting the places to buy in different areas.....
What was interesting is that they were telling that Ramachandra - Harvard joint buisness venture is coming up in Porur Chennai! That should be some interesting investment indeed!!!

The first guy on the show periyaswamy seems like a bogus caller from the ndtv station he was putting fake tamil accent clearly

I think this property show might be a paid show, where there is every chance that builders might have paid to show cause their properties.
so you cannot assess the properties based on the shows. It is just a e-pamphlet for properties address.
I remember few years back, Vijay TV or Jaya TV did this with S.Ve.Sekhar

City may get local planning authority

http://www.deccanchronicle.com/channels/cities/chennai/city-may-get-local-planning-authority-184

The state government is planning to constitute a local planning authority (LPA) on the lines of Hyderabad and Bengaluru for developing fringe areas of the city lying between GST ROAD and ECR.

These areas are getting urbanized in a haphazard manner without any master plan or a long-term plan. Hence the urban development department has prepared a blueprint for the area south of the Chennai metropolitan area (CMA). This would lead to a real estate boom here.

After the government accorded approval in 2008 for the second master plan considering the growing demands, both present and future, of the CMA, the necessity for developing the areas on the outskirts of Chennai was felt.

Based on this, the government had CMDA to prepare a detailed plan for a few areas in southern suburbs.

The detailed development plan for the area south of the CMA of an extent of 562 sq.km falling in 134 revenue villages has been delineated and sent for government approval.

It comprises Maraimalai Nagar municipality, Guduvancheri- Nandhivaram Town Panchayat, Thiruporur Town Panchayat and parts of Thiruporur panchayat unions.

“Presently, only realtors exploit the resources in LPA areas. Instead, the government can create housing units both for economical weaker sections and high income groups at a reasonable prices, with adequate infrastructure facilities that will also help the existing households, which are deprived of sewerage connections and proper roads, besides connectivity,” sources in the government told DC.

Today's Property Show - Where to buy in Central Mumbai and Chennai


http://www.ndtv.com/video/player/the-property-show/todays-property-show-where-to-buy-in-central-mumbai-and-chennai/224299?pfrom=home-topstories


^^

They are ofcourse highlighting the places to buy in different areas.....
What was interesting is that they were telling that Ramachandra - Harvard joint buisness venture is coming up in Porur Chennai! That should be some interesting investment indeed!!!



Since initiating a relationship with Sri Ramachandra University in 1997, PHMI has helped the school raise the standard of education and patient care in Chennai.

http://www.phmi.partners.org/Experience/Clients

This is not a new thing, the relationship with Harvard and Sri Ramachandra University has been there for 15 yrs now.

Chennai Residential real estate prices rocks. Not sure if this is sustainable. Look at ECR rates much higher than OMR.

^It depends on the area. Certain area due to proximity to important places/landmark will sustain while others might not.

My F-in-law sold the yet-to-be-completed apartment in maduravoyal for 4600 per sq.ft. which is close proximity to koyembedu (market,bustand)/chennai bypass/ambattur ind. estate(some it parks as well)/anna nagar and he is thinking of increasing slightly.

ECR is rocking due to close proximity to beaches/entertainment stuff same as the place where I live (which is 8 miles away but prices of RE are more expensive near the beaches). OMR will also sustain due to IT atleast till supply/demand is met.

Guys,
what about secondary markets in these region?do any takers available?
before we get into some financial commitments, lets double check on all the possible scenarios..
World will not be same everyday..
high value flats ..secondary markets will always be tough. our people mindset is instead of buying 2nd hand at a very high cost, lets put some more money and buy the new one..

Does any one knows the price of Siena by XS real at padur?

Secondary markets in OMR is performing poor due to oversupply. It only driven by end user needs for immediate occupancy
The new ones are driven by investments also.

Guys,
what about secondary markets in these region?do any takers available?
before we get into some financial commitments, lets double check on all the possible scenarios..
World will not be same everyday..
high value flats ..secondary markets will always be tough. our people mindset is instead of buying 2nd hand at a very high cost, lets put some more money and buy the new one..

It is not in RE , in every other activity people generally give lesser preference to second hand "things". For example in key areas of Chennai like Adyar etc, second hand apartments cost atleast 30% less than fresh apartments. And no,not talking of some 70 or 80 year old flats that are all set to break down !. Generally concrete apartments built with proper engineering specs can last atleast 60-70 years.

The first guy on the show periyaswamy seems like a bogus caller from the ndtv station he was putting fake tamil accent clearly

NDTV channel is paid news channel of the congress party.Their other programmes generally appear to be made up and the real TRP rating for this channel is very low.

S&S Foundations - Mylapore|9 floors

http://ssfoundations.com/components/com_realestatemanager/photos/129D1F3D-C0E3-2B2D-E381-39E0E61F3D5D_mylapore-aug-25.gif

http://ssfoundations.com/projects.html?catid=40&id=11&task=view

S&S Foundations- Pallavaram-Thoraipakkam 200 ft road| 2 x 13fl

http://ssfoundations.com/components/com_realestatemanager/photos/651E8770-A862-C0B7-BE1E-F31B563D2EA2_pallikaranai.jpg

http://ssfoundations.com/projects.html?catid=40&id=12&task=view

S&S Foundations - Porur|11 fl

http://ssfoundations.com/components/com_realestatemanager/photos/4331F0C5-D39C-D6A3-729A-FA6F5A4E9B89_porur.jpg

http://ssfoundations.com/projects.html?catid=40&id=9&task=view

After a decade on fast lane, ECR set to expand

http://www.thehindu.com/news/cities/chennai/article2917362.ece

On full throttle: For the people of Chennai, the ECR has meant an escape from the routine; (above) but overspeeding by motorists claims several lives on the road every year. Photos: M. Karunakaran

The city's favourite getaway highway is now 10 years old. In a series of reports, The Hindu will examine how the development of this 113-km long stretch has had a far-reaching impact on Chennai and its people. Deepa H. Ramakrishnan on the journey so far and the road ahead

The swanky East Coast Road, which influenced lifestyles and aspirations of Chennai, has turned 10. The 113-km long stretch from Akkarai to Puducherry, dotted with resorts and beach houses, became a toll facility in March 2002 and was upgraded into a two-lane road from a small winding road passing through 154 villages.

The next big change that the road is likely to witness is the proposed four-laning. The detailed project report to widen it further with a median up to Mamallapuram is in the final stages and is expected to be submitted to the State government soon by the Tamil Nadu Road Development Company (TNRDC), which manages the facility. The consultant is currently looking at the environmental aspects of the project.

TNRDC managing director P. Umanath said that the ECR as a project has fully served its intended objectives during this 10 year period. “Our future endeavours will be to make the road more user-friendly, minimise accidents and support initiatives to promote tourism.”

The ECR also has been a learning curve for the TNRDC. Its former director K.R. Viswanathan said that for TNRDC, the ECR was the first Build-Operate-Transfer project that showed the potential for road development and opened the door for the more ambitious IT Corridor project on the same model and commercialise it successfully.

The road was built in 1998 by interlinking and improving a series of small village roads that connected the fishing villages along the east coast. The idea was to create infrastructure, facilitate inter-state connectivity and boost tourist movement. But within two years, it started showing signs of distress, adversely affecting the quality of rides and safety of motorists. In 2000, the State government signed a concessionaire agreement with the TNRDC in order to improve the road.

When the road was being built initially, several environmentalists and NGOs, including Indian National Trust for Architecture and Cultural Heritage (INTACH), objected to it as many trees had to be cut, which they said would lead to indiscriminate groundwater extraction.

“We had also objected as there are habitations every 1.6 km or 2 km and that could lead to accidents, which has become a fact now. If the government is planning to develop the road, it should ensure that the development on both sides is controlled and eco-friendly,” said INTACH Ajit Koujalgi co-convenor, Pondicherry, who had filed a case in the 1990s against its widening. However, road experts say that widening is a must to avoid accidents. “Environmentalists and the communities along the road must be taken into confidence and a strategy must be worked out to widen the road. Otherwise it would only lead to more accidents,” said a source, who was involved in the first phase of development of the road.

The road sees a number of accidents every year. G. Thirumugan, a taxi driver, who goes on trips to Puducherry frequently, said that many drivers think twice before taking the road on weekends. “People drive at breakneck speed and with the many curves on the road, vehicles easily turn turtle,” he said.

According to statistics available with Chennai Traffic Police, last year alone there were 51 fatal and 122 non-fatal accidents on the ECR in the stretch leading up to Muttukaadu. According to TNRDC statistics, there is one accident daily and 10 to 15 fatal accidents in a year between Akkarai and Keezh Puthupattu near Puducherry.

Many like S. Surya, who is in the hospitality industry, take a break once in two weeks to hang out with friends at beach resorts on the ECR.

“I love to drive fast on the road. We no longer prefer to drive to Pondy as the prices of alcoholic beverages are not very different from that in Chennai. Instead we have our own hangouts. There are places that extend the courtesy of letting you bring your own alcohol for parties,” Surya said.

Apart from making people want to take a fast ride, the road has fuelled the development of real estate, beach resorts and other tourism development activities.

Markand Desai, a property developer, who invested on the eastern side of the ECR 32 years ago, said that it was the development of the road that led to the boom in real estate. “The price of land has increased by 25 percent every year. Now the road is home to many of Chennai's rich and famous. People also seem to know to spend money and enjoy the facilities.”

-del-

City may get local planning authority

http://www.deccanchronicle.com/channels/cities/chennai/city-may-get-local-planning-authority-184

The state government is planning to constitute a local planning authority (LPA) on the lines of Hyderabad and Bengaluru for developing fringe areas of the city lying between GST ROAD and ECR.

These areas are getting urbanized in a haphazard manner without any master plan or a long-term plan. Hence the urban development department has prepared a blueprint for the area south of the Chennai metropolitan area (CMA). This would lead to a real estate boom here.

After the government accorded approval in 2008 for the second master plan considering the growing demands, both present and future, of the CMA, the necessity for developing the areas on the outskirts of Chennai was felt.

Based on this, the government had CMDA to prepare a detailed plan for a few areas in southern suburbs.

The detailed development plan for the area south of the CMA of an extent of 562 sq.km falling in 134 revenue villages has been delineated and sent for government approval.

It comprises Maraimalai Nagar municipality, Guduvancheri- Nandhivaram Town Panchayat, Thiruporur Town Panchayat and parts of Thiruporur panchayat unions.

“Presently, only realtors exploit the resources in LPA areas. Instead, the government can create housing units both for economical weaker sections and high income groups at a reasonable prices, with adequate infrastructure facilities that will also help the existing households, which are deprived of sewerage connections and proper roads, besides connectivity,” sources in the government told DC.



I read a recent article from TOI and posted in SSC too about the proposal to form a Chennai Mega region of about 8000 sqkm to include all neighboring cities Kancheepuram,SPDR,Mamallapuram and Tiruvallur. I wonder how this LPA above is going to fit into the scheme of things .


http://articles.timesofindia.indiatimes.com/2012-01-26/chennai/30666094_1_tiruvallur-chennai-metropolitan-area-sriperumbudur


:)

Since initiating a relationship with Sri Ramachandra University in 1997, PHMI has helped the school raise the standard of education and patient care in Chennai.

http://www.phmi.partners.org/Experience/Clients

This is not a new thing, the relationship with Harvard and Sri Ramachandra University has been there for 15 yrs now.

^^

Thank you dude.... I never knew that.... And yes..... I dont know the credibility of the show... So have to agree with the points told by all of you.... Thank you indeed!

I read a recent article from TOI and posted in SSC too about the proposal to form a Chennai Mega region of about 8000 sqkm to include all neighboring cities Kancheepuram,SPDR,Mamallapuram and Tiruvallur. I wonder how this LPA above is going to fit into the scheme of things .


http://articles.timesofindia.indiatimes.com/2012-01-26/chennai/30666094_1_tiruvallur-chennai-metropolitan-area-sriperumbudur


:)



MLPA (Mamallapuram Local Planning Authority) is already there under DTCP to take care of the suburbs of Chennai & Kancheepuram & Thiruvallur districts.

The news item is very vague and the writer seems confused.

Actually they propose to have a master plan for the localities mentioned and it will prevent hapazard / unorganised development.

^^

Thank you dude.... I never knew that.... And yes..... I dont know the credibility of the show... So have to agree with the points told by all of you.... Thank you indeed!


True Sri Ramachandra univ and Harvard medical International are in alliance. This is done so that SRU markets itself well in USA and collects capitation fees from NRI .

SRU will be allowed to admit 250-275 MBBS students from next year (existing 150 ) .25 % of students are from abroad. Heavy collection from next year.

S&S Foundations launches residential project


The Chennai-based S&S Foundations has launched a 108-apartment residential project on western outskirts of the city.

The residential project, Solitaire, consisting of a 11-floor tower on the Kathipara Junction-Porur Road are priced at Rs 5,950 a sq.ft for the 2- and 3-Bedroom-Hall-Kitchen units of 1,150-1,850 sq.ft.

The company has completed five projects in Chennai and is set to announce three more projects in the heart of the city in Mylapore, Velachery and Maraimalai Nagar, said Mr S. Sathyanarayanan, Managing Director, S&S Foundations.

S&S has a land bank of over 120 acres in and around Chennai.


http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/article2917719.ece

True Sri Ramachandra univ and Harvard medical International are in alliance. This is done so that SRU markets itself well in USA and collects capitation fees from NRI .

SRU will be allowed to admit 250-275 MBBS students from next year (existing 150 ) .25 % of students are from abroad. Heavy collection from next year.

TN colleges and universities need to become world class at the same time economically viable. I hope the model they come with works for everyone.

TN colleges and universities need to become world class at the same time economically viable. I hope the model they come with works for everyone.

Dude, But the developed universities are charging hell a lot that you can't even afford for a pocket (leave alone the hole on pocket).

SRM university has opened up is office in Dubai just for intake of NRI students for their chennai facility, they just ask for $10000 per year as the fees.

This is what the status of leading Indian Universities.

Dude, But the developed universities are charging hell a lot that you can't even afford for a pocket (leave alone the hole on pocket).

SRM university has opened up is office in Dubai just for intake of NRI students for their chennai facility, they just ask for $10000 per year as the fees.

This is what the status of leading Indian Universities.
^^

I was only mentioning about the money collected in black,bogus entrance exams and blatant violation of laws and admitting ? standard students. They re leading the way and all private universities in medicine follow them.

God save patients .

Compared to these students three and half year condensed MBBS students will be better as they ll at least go to rural areas.

After a decade on fast lane, ECR set to expand

http://www.thehindu.com/news/cities/chennai/article2917362.ece

The road beyond Pondy is in real shambles looks like a typical SH . Many places the roads have such a bend that vehicles in opposite sides will look like they are travelling in the same direction if seen from a distance then there will be a huge S bend.

Even roads inside cuddalore leading to South is very bad.

Why dont they think beyond Pondy. This road has the potential to be the second highway connecting North South TN which is not used to full potentail. It can create a new chapter in TN economic history.

One development that will be prominent in coming days will be that we will see lot of new Real estate projects in those areas that are going to be served by Mono Rail.

Infact it seems that Prestige Project in Porur, though very big has seen record booking. Likewise lot of players who earlier concentrated on other areas will now focus on Mono Rail served locations.

Of course, as always there will be a big gap between promises and reality .

One development that will be prominent in coming days will be that we will see lot of new Real estate projects in those areas that are going to be served by Mono Rail.

Infact it seems that Prestige Project in Porur, though very big has seen record booking. Likewise lot of players who earlier concentrated on other areas will now focus on Mono Rail served locations.

Of course, as always there will be a big gap between promises and reality .

Don't U know that Jayalalitha promise many thing like mono rail but hardly implements it.If u know her past two terms then u will understand.In this respect Karunanidhi is better.She has stopped third phase of the metro and she will not implement Mono rail project nor she will buy new buses.Infrastructure like roads etc will go at a very slow pace but vendetta and pungent criticisms of her opponents will be promptly executed.

Olympia Grande|17 x 11fl|Pallavaram|U/C

http://www.allcheckdeals.com/projects/olympia/olympia_grande/images/olympiagrande_big.jpg

Location Map

http://www.allcheckdeals.com/projects/olympia/olympia_grande/maps/olympiagrande_loc_w.jpg

Master Plan

http://www.allcheckdeals.com/projects/olympia/olympia_grande/maps/olympiagrande_mp_w.jpg

Olympia Grande|17 x 11fl|Pallavaram|U/C

People need to be cautious on Water(bore water) quality in this Area. Lot of leather Tanneries were here earlier. that is why this area did not boom that much.

Don't U know that Jayalalitha promise many thing like mono rail but hardly implements it.If u know her past two terms then u will understand.In this respect Karunanidhi is better.She has stopped third phase of the metro and she will not implement Mono rail project nor she will buy new buses.Infrastructure like roads etc will go at a very slow pace but vendetta and pungent criticisms of her opponents will be promptly executed.

Don't want to get into JJ vs MK boxing here but wish to state that the Third Phase of Metro was not stopped , because it was only a proposal. To start with, only first and second phases of metro had financial closure and were formally started. The Third Phase was deferred for future by previous MK govt because there was not enough finance to see through three corridors . The funding parties (CG/SG/Japanese FIs) would want to first see the patronage of existing metros before putting fresh money. And any further phases of Metro will have to be UG, meaning requiring much larger investments than phase 1 and 2.

To start with, only first and second phases of metro had financial closure and were formally started.
It is not 2 phases. only Phase 1 Implementation is going on. Phase 1 consists of 2 corridor.
Phase 2 DPR is in progress and might be tabled to SG this year. JJ might approve it after mono.
Ranga sir, are you following chennai mono rail thread?
It is moved on with private Firms will be applying before March.
Unlike metro project, CG may not share any cost. As you aware, SG economy was spoiled in last 8 yrs due to poor Policies of Thatha and SG also dont have money.
So pvt operators need to bring in their money, built it, operate it. SG govt will provide lands and monitoring it.
Since 100% is from Pvt companies, there was a delay. Also Mannargudi Mafia try to play their role and hence those tenders were scrapped.
you can see the Rest of it in Chennai mono Rail topic.

It is not 2 phases. only Phase 1 Implementation is going on. Phase 1 consists of 2 corridor.
Phase 2 DPR is in progress and might be tabled to SG this year. JJ might approve it after mono.


+1 and thanks for correcting me.

Ranga/Others,

everyone including me wants phase 2 metro. But metro phase 2 will be UG and will cost a lot. When Metro was started by MK in 2007, TNEB was not in such bad financial position. Hard fact: We (TN) have pitchai pathiram and they (Japanese) have akshaya pathiram. JJ is seeking Japanese help to fund TNEB (substation etc ) and may take Japanese funds for a new thermal power plant. So these things are priority. Metro ph 2 can wait. Let us finish current metro and show the world that we will use it effectively, then we will have so many people behind us to fund next phase of metro in chennai (and also in other cities of TN)

People need to be cautious on Water(bore water) quality in this Area. Lot of leather Tanneries were here earlier. that is why this area did not boom that much.

The project is so costly but seems booking is going in full swing ..Wondering how !!!!

The project is so costly but seems booking is going in full swing ..Wondering how !!!!

In what way you are telling it is costly.You pay per sqt above 4000 in forest like location 2 kms back of siruseri and this is in exact city center and close to airport and chrompet as you know in recent times changed into another T.nagar and they offer u for 5000/ sqt with good construction quality.

Yeah, this one will sell like hot cake as it is closer to sub-urban rail, GST, airport, metro near AP..

Any idea about this project??

Archean Group Add Albatross - Chennai




^^

@Murlee :

Why dont you start a new link for this mega project.

FACT SHEET
• Albatross – a unique residential development of 525 apartmen ts,
spread over 8.35 acres with 4 towers: 3 towers with 28 floors ( 100m
height) & the signature tower with 50 floors (171m height)
• Tallest residential development in Chennai, located on OMR overl ooking
Bay of Bengal and opposite Siruseri SIPCOT IT park- houses maj or IT
giants in Chennai
• Unique lifestyle amenities
• Choice of sizes- 2BHK + study - 1,465 sq ft, 3BHK - 1,975 sq ft,
4BHK - 2,500 sq ft
• Duplex & penthouses on 30th & 50th floors
• Uninterrupted sea view from all units above 10th floor
• 80% of apartments are designed to ensure 3 sides open to vie ws
• Car parking (2 basements + 1 stilt), mechanized parking

Home page:
http://www.addhomes.in/albatross/


Fact sheet:
http://www.addhomes.in/albatross/docs/Albatross-Fact-Sheet.pdf

Buyer's guide:
http://www.addhomes.in/albatross/docs/Albatross-Buyers-Guide.pdf

^^

In this above link they have mentioned interesting infor about Chennai specifically...

"D&B rated Chennai higher than Mumbai as occupier hub"

:cheers:

Albatross? I don't know why they would choose such a name. I know it is a bird, but it also a metaphor for "burden" or a "curse". It could become a putoff for some people who knows this meaning. Good luck to them!

I wish more project come with Indian names, rather than unrelated foreign names.

Albatross in not a foreign name. It is a bird and it can be called that only. Let us not be negative. Albatross has the biggest wing span enabling it to cross oceans. May be they builders wants their buyers to spread their wings.

I agree that we have wonderful Indian names that can be used for projects.

Has the project started?

Madarasi,
I am not sure if you read my post properly. I did mention that it is a bird.

But my observation is one of surprise, considering Albatross also has a negative meaning as well. "Albatross around my neck" is also a common expression that indicates "a burden difficult to get rid off". Normally when businesses name a major project or a release a new car or a new brand they do a lot of research on the name. They would like to avoid anything that is an object of ridicule or negative as it will affect their sales. That is why I am surprised.

For example, it will be very difficult to sell Tata Nano or any car with the name "Tata" in the US. In US "Ta-tas" is a slang (not used often now a days) for "breasts". Tata Nano means "tiny breast". This will turn away a lot of people from buying this. Tata will do well to launch it under a different brand they own. say Rover for example.

It personally doesn't matter to me. The business can do what ever they want with their own money.

FYI... Albatross is certainly a foreign name (Thanks Wikipedia). It is either Portugese, or Middle eastern. I am unable to find the Indian name for the bird Albatross. The investors can quickly turn this around. In Wiki, I have also learned that Albatross is an endangered species. If the investors contribute some money from the project to enable their survival and advertise it, that will work in favor of them.

In what way you are telling it is costly.You pay per sqt above 4000 in forest like location 2 kms back of siruseri and this is in exact city center and close to airport and chrompet as you know in recent times changed into another T.nagar and they offer u for 5000/ sqt with good construction quality.

I never said siruseri is cheap anytime. Yes, this project is in a location to die for but I did enquiries month(s) back and found some negatives 1) UDS is very less 2) There is foul chemical smell in that place 3) Groundwater will be worthless due to tanneries in past 4) Also this builder has repute for delaying delivery so project will be delayed. Lastly, the flat sizes are big, so actual cost including parking is huge.

Still if one is looking at investment/POV of letting out to people from other states/letting out to car owning/travelling types, this can be considered. Provided you dont mind the 4-5 year delay and all.

Albatross? I don't know why they would choose such a name. I know it is a bird, but it also a metaphor for "burden" or a "curse". It could become a putoff for some people who knows this meaning. Good luck to them!

I wish more project come with Indian names, rather than unrelated foreign names.

The builder is trying to tell the truth that buying his project will be a big financial burden for investors (with cost overrun, time delay etc). Appreciate the honesty !!:nuts:

City to push into Chengalpattu limits (http://www.thehindu.com/news/cities/chennai/article2961193.ece)

http://www.thehindu.com/multimedia/dynamic/00942/05THMARAIMALAI_NAGA_942319f.jpg
Efforts to cover more localities in outlying areas of Chennai under a Master Plan is under way. An aerial view of the developing parts in the proposed Chengalpattu composite Local Planning Area.


Master plan for neighbouring district shelved to facilitate expansion of CMA

The Chennai Metropolitan Area (CMA) is all set to make inroads into a chunk of the proposed Chengalpattu Composite Local Planning Area. To facilitate the expansion of the Chennai Metropolitan Area (CMA), the Housing and Urban Development Department has shelved the proposal of the Directorate of Town and Country Planning (DTCP) to create a composite Local Planning Area for Chengalpattu. However, a similar proposal for expansion of the Local Planning Area for Kancheepuram by including 25 more villages was approved and notified by the government in December 2011.

Here is a composite map illustrating the expansion of the Chennai Metropolitan Area.

http://www.thehindu.com/multimedia/archive/00942/05TH_NEW_CMA_col_ep_942320a.jpg

The government had earlier announced that the Chengalpattu Local Planning Area covering the municipality of Chengalpattu would be converted into a Composite Local Planning Area (LPA) in 2011-2012 in order to create separate Master Plan for the rapidly developing area comprising 128 villages of Chengalpattu Taluk and its municipal limits. This proposal for a composite LPA for Chengalpattu excluded 55 villages under Mamallapuram Local Planning Authority and two villages of Mamallapuram New Town Development Authority.

The idea of a separate master plan for Chengalpattu was proposed to regulate the rapid urban development on the Southern suburbs of Chennai. Even though building norms pertaining to Floor Space Index and set back are in place in the 128 villages included in the proposed Chengalpattu LPA, funding for major infrastructure projects was not forthcoming without a master plan.

The master plan is also crucial for planned zoning of land use covering residential, commercial or industrial. Demarcation of land use zones is yet to be done in the 128 villages across the area lying between Vandalur and Chengalpattu. Land use zones would put a stop to the unplanned development of hazardous industries near newly developing residential or commercial areas. As a number of villages in the area are witnessing rapid development with only building norms in place, many residential areas are inadvertently being developed in proximity to industries which may create problems in the long run. Consequently the DTCP was in a rush to create a master plan for Chengalpattu and had sent the proposal to government. Now, the opportunity for Chengalpattu to experience a planned urban development may also be delayed if the expansion of the CMA consumes time.

The existing Chennai Metropolitan Area (CMA) covers an area of 1,189 sq km and the expanded CMA would grow beyond Vandalur-Kelambakkam Road towards the south. Most of Kancheepuram and Tiruvallur districts would be part of the expanded CMA.

CMA should totally cover the Chenglepet & Thiruvallur areas.

The revenue functions can be looked after by the Collectors & revenue depts, whereas the Development Control should rest with the CMDA.

Some projects between Medavakkam-Pallikarnai in E.Tambaram to velacherry road.

http://img811.imageshack.us/img811/2964/img3793re.jpg
By ceeznic (http://profile.imageshack.us/user/ceeznic) at 2012-03-06

http://img9.imageshack.us/img9/7673/img3789e.jpg
By ceeznic (http://profile.imageshack.us/user/ceeznic) at 2012-03-06

http://img834.imageshack.us/img834/1858/img3794er.jpg
By ceeznic (http://profile.imageshack.us/user/ceeznic) at 2012-03-06

Some projects between Medavakkam-Pallikarnai in E.Tambaram to velacherry road.

http://img9.imageshack.us/img9/7673/img3789e.jpg
By ceeznic (http://profile.imageshack.us/user/ceeznic) at 2012-03-06


Awesome updates across threads CP.. Thanks for the time and effort.

Almost half of the road is covered by sand in this pic :bash:

^^

@Murlee :

Why dont you start a new link for this mega project.



Home page:
http://www.addhomes.in/albatross/


Fact sheet:
http://www.addhomes.in/albatross/docs/Albatross-Fact-Sheet.pdf

Buyer's guide:
http://www.addhomes.in/albatross/docs/Albatross-Buyers-Guide.pdf

^^

In this above link they have mentioned interesting infor about Chennai specifically...

"D&B rated Chennai higher than Mumbai as occupier hub"

:cheers:

Is the 50 floors tower approved? I think they only advertised the G+28 towers on Dinamalar and did not mention the 50 floors tower.

Is the 50 floors tower approved? I think they only advertised the G+28 towers on Dinamalar and did not mention the 50 floors tower.

^^

I dont know if it has been approved! But thats what is stated in their website...
Please do check those links....

Olympia Grande|17 x 11fl|Pallavaram|U/C

http://www.allcheckdeals.com/projects/olympia/olympia_grande/images/olympiagrande_big.jpg

Location Map

http://www.allcheckdeals.com/projects/olympia/olympia_grande/maps/olympiagrande_loc_w.jpg

Master Plan

http://www.allcheckdeals.com/projects/olympia/olympia_grande/maps/olympiagrande_mp_w.jpg
11 floors closer to the airport, strange.
how come airport authorities did not create any problem for this, but too much problem for the Metro, somehow this is also dangerous.

^^^^

Though it is near the airport, this site does not lie along the flight path nor the funnel.

Even higher would have been possible but for the FSI availabilty for the site.

^^

@Murlee :

Why dont you start a new link for this mega project.

Home page:
http://www.addhomes.in/albatross/



I think we should wait till we are sure some construction activity is going on and once we start getting some pictures, we can go for a separate thread..

kannan sir, what do u think??

Building on history

When real-estate giants say step into a Spanish villa, an eco-friendly home, or a modernist apartment you are bound to want in on the deal. There is a growing trend among builders in Chennai to attract customers with international concepts and architectural designs. Marketing plays a huge role in how a product is packaged and made appealing, “It's all about roping in your target audience with a product that they desire. The consumer context is very crucial when a builder has to develop designs,” says Fuzail Sait, brand executive of a consumer goods firm. From traditional Indian designs to European-inspired structural design, builders in the city are moving away from the mundane to the swish. .

Back in time

Bella Tuscany by XS Real builders located in Padur is inspired by the natural beauty, art and architecture of Tuscany. This Italian region is known for its gorgeous landscapes, vineyards, picturesque villas and architectural edifices. Typical Tuscan architecture can be identified by the tall, narrow, wood-framed windows, raised entries, wide overhanging eaves, Roman arches above windows with stucco or stone exteriors. Designed by architecture firm Shilpa, Bella Tuscany is a collection of bungalow apartments with plenty of open spaces, gardens, pools, fountains and terracotta plaques that come together to create a Tuscan-style space.

Apart from the Bella Tuscany project, Shilpa was also commissioned by XS Real to design Pallava Heights, located in Mylapore. Drawing inspiration from the glorious tradition of Pallava architecture, they created a beautiful heritage building that attracted a lot of people. “The building is designed around a swimming pool, just as the Teppakulam of the Kapaleeswarar Temple was the epicentre of Mylapore three centuries ago. The backdrop to the pool is a miniature of the Arjuna's Penance, specially carved by artisans from Mahabalipuram. We also sculpted a life-size Oor Kavalan who stands gallantly by the pool deck to check accidents,” says Sheila Sri Prakash, chief architect at Shilpa.

A trip down OMR and it's hard to miss Palace Gardens staring at you in its majestic glory. Designed by Hafeez Contractor, the man behind The Imperial I and II, the tallest buildings in India, Palace Gardens is heavily inspired by Neo-Classical architecture. “We went with the Neo-Classical theme and executed the design with minute detailing, it has Roman pillars and triangular pediments,” says Yogendra Badra, assistant vice-president, HIRCO Palace Gardens.

So what makes a building Neo-Classical? A Neo-Classical building is likely to have a symmetrical shape, tall columns that rise to the full height of the building, a broad triangular or segmental gable surmounting a colonnade as the major part of a facade, and a domed roof. The Neo-Classical style is rooted in Roman and Greek architecture, like that of the Roman Pantheon, which is characterised by a porch of Corinthian columns and a triangular pediment attached to the ends of the eastern arm.

Tropical tones

When you think of the sunny tropics, your mind usually pictures vacation homes where time stands still; there might be a beach nearby and sultry breeze coming your way. Now, Vijay Shanthi builders promise to build you a tropical getaway within city limits. Aptly named Rainforest, this project claims to incorporate earthy tones that are synonymous to Hawaii and Bali-style homes. “Our concept was to provide a tropical-themed building, complete with lush gardens and an outer façade made of line bricks that will keep the building cool and minimise electricity consumption,” says Suresh Kumar, managing director, Vijay Shanthi Builders.

Also, juxtaposing sleek contemporary design with Balinese landscaping is the new Vertica apartments at Peters Road. “We have brought in a landscape architect, Dewakusuma, from Indonesia to recreate the lush greenery of Bali,” says T. Udaykumar, managing director, Landmark Constructions

Mia Villas from Isha Homes offers an eco-friendly home that craftily blends the idea of living with Nature and Spanish-style villas. “The community devotes half an acre of land for an herb and kitchen garden, which provides the community with culinary and medicinal herbs as well as fresh produce,” says Suresh Krishn, managing director, Isha Homes.

Conceptually, villas are an import from Europe and inspired by Mediterranean architecture. The Alliance Group is creating a Spanish-villa community in Porur as well with tiled roofs and circular arches.

Spanish Colonial Revival houses were built in the early part of the 20th Century when Revival styles were popular. Other features of this style are small porches, smooth-plastered walls and chimneys, Roman or semi-circular-arched arcades and door and window openings, tall, double-hung windows, canvas sunshades and decorative iron trims.

Exposure to different cultures is clearly driving the real estate market and it's not surprising that people are buying into the idea of architecture-inspired properties, no matter how true to the style the end product is.

http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article2979868.ece

True Chennai is now into a different league. We need to make anything more classy and high class. Something different is needed to attract buyers and for something special people will be willing to pay more.

Palace garden of HIRCO is in Oragadam Mudichur road, not in OMR.

Hindu report is wrong. They are refering to the Upscale project.

Jains...

http://img853.imageshack.us/img853/8416/westminster.jpg

GK Shettys...

http://img85.imageshack.us/img85/6761/horizonresidencesinnerm.jpg

Krishna...

http://img195.imageshack.us/img195/9039/tivoligardens.jpg

I am not sure where these match box design of Hafeez contractor for Hirandani upscale meet the Neo classical design. Majestic should have other meaning. Let him see the Vidhan Shoudha facade and then talk about majestic. One thing good with "The Hindu" with their reporting skill the can make everyone believe some thing great is built.

source: http://realvalue.in/web/padmalaya

http://realvalue.in/web/sites/all/themes/theme523/images/Padmalaya/padmalaya.jpg

Source: http://www.navinhousing.com/Eden_Park.php#

http://www.navinhousing.com/images/eden_park_elevation2_big.jpg

Olympia Reflection| Villas + 4 High Rises + Boutique Resort|ECR

http://www.reflectionchennai.com/home.php


http://www.reflectionchennai.com/img/residence-bg.jpg

HighRises

http://www.reflectionchennai.com/img/luxury.jpg

Boutique Resort

http://www.reflectionchennai.com/img/boutique2.jpg

Location

http://www.reflectionchennai.com/img/location-map-big.jpg

Master Plan

http://www.reflectionchennai.com/img/siteplan.jpg

Cerus by Appaswamy

In Arcot road, Saligramam

http://img72.imageshack.us/img72/9241/ceruselevation.jpg

http://www.thehindu.com/news/cities/chennai/article2992094.ece

A transaction advisor for the Thirumazhisai satellite township is likely to be appointed by the month-end.

....

A high-level committee, headed by the Chief Secretary, will approve the mode of development, bid parameters, qualification for the bidder and specific mode of implementation on the basis of findings of the feasibility study to be undertaken by the transaction advisor.

A Government Order issued by the Housing and Urban Development Department last week said that 12,000 residential flats for various groups would be built as part of the proposed township. An extent of 311.05 acres had been earmarked at Chembarampakkam, Kuthampakkam, Parvatharajapuram, Narasingapuram and Vellavedu near Thirumazhisai.

It has been proposed that the expenditure towards procurement of land from private landowners and land to be alienated from the government for laying approach roads and expenditure towards the proposed development work will be met from the Tamil Nadu Housing Board funds. The expenses, which will be booked under the project cost, will be realised from prospective buyers.

THE GOVERNMENT HAS ALSO ISSUED ORDERS, SANCTIONING RECONSTRUCTION OF FLATS IN THE BOARD'S RENTAL QUARTERS IN CIT NAGAR AND MANDAVELI. THE NUMBER OF FLATS TO BE BUILT IN CIT NAGAR IS 474 AND IN MANDAVELI, 50 FLATS.

BESIDES, IT HAS APPROVED THE CONSTRUCTION OF 554 FLATS IN ASHOK NAGAR. THE FLATS WILL BE IN A MULTI-STOREYED STRUCTURE WITH 11 FLOORS.

THE PROPOSAL FOR THE CONSTRUCTION OF MULTI-STOREYED COMMERCIAL COMPLEX ON ABOUT 4.3 ACRES AND ANOTHER SIMILAR STRUCTURE FOR RESIDENTIAL FLATS OVER 1.3 ACRES, ALL IN THE SOUTH ASIAN FEDERATION GAMES VILLAGE AT KOYAMBEDU, HAS ALSO BEEN APPROVED UNDER THE PPP MODE.....

i wonder what will happen to the underground water level when these huge structures are occupied..

chennai: “Compact Homes”, a new series of homes from Arun Excello, are functional units with efficient design at affordable cost and with no frills attached. Three projects in the Compact Home Series launched by Arun Excello earlier totalling 480 units had received tremendous response and are sold out.

The new project in “Compact Homes Series” “Lathangi” at Panrutti, Oragadam, has been launched now. It is a few minutes' drive away from Oragadam Junction.

A two-bedroom apartment with an area of 545 sq.ft is offered at Rs.10.9 lakhs. All the apartments are in two-bedroom configuration.

This project is located at Oragadam amid the automobile hub of Chennai, SIPCOT Hi-Tech SEZ - an Industrial Growth Centre with good road access and well connected to the city.
http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article3004625.ece

Bay Influence getting ready
The project is expected to be completed by August 2012

Bay Influence, 4 BHK villas in Thiruvidandhai on ECR main road, is located at 3.5 km from Muttukad lake, the 4750-5000sq ft designer space is amidst 80% green area with landscaped private gardens and luxurious infrastructure.

A unique snorkelling bay and special underwater aqua gym adds to the rarity of the boutique villa.

Bay Influence, expected to be ready by August 2012, is priced at a very special offer of Rs. 5750 /sq ft.

http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article3004627.ece

MIX AND MATCH
Most large residential projects in the suburbs of the city are focussing on mixed development, with apartments and villas catering to multiple economic segments housed in the same project.

It is seen as a step towards inclusive living and a part of the evolution of integrated townships. Breaking the tried-andtested concept of constructing apartment blocks, developers, these days, are experimenting with mixed development, wherever possible.

These projects are typically spread across large tracts of land that run to more than 25 acres and they contain apartments of varying sizes (1, 2 and 3 BHKs) – villas, bungalow apartments and duplex houses – all in the same project. Says S Ramakrishnan, CEO, Marg ProperTies, "Such projects are possible only when large tracts of land are available and they can, naturally, be planned only in the suburbs and outskirts of the city. Optimisation of land costs is an important factor here. So from the developer's perspective, it makes financial sense to only venture into such development in large, planned townships."

Marg Swarnabhoomi, spread across 1,000 acres on ECR, is a case in point. The residential wing of the project has a variety of housing options across economic and lifestyle categories - a mix of high rise apartments, affordable homes, smart homes, to name a few.

This model is gaining popularity and developers believe that this approach makes social and economic sense, in the case of large projects. As Kalyan Jayaprakash, Director - Acquisitions, Inno Group and Director, Inno Geo City, explains, "In large-format developments, it is important to cater to multiple segments and create something for every aspiring home buyer. It fosters inclusive living; if you cater to only one segment, you will be creating ghettos." The group drew inspiration for the project from similar successful models in Europe. Inno Geo City, spread across 130 acres in Oragadam, has row houses, bungalow apartments, villas, 2 and 3 BHKs, with a host of amenities. He adds, "The idea is to create small sustainable cities that are self-contained and hence, environmentally-friendly. Well-planned townships such as these must ensure that all economic groups from rural and urban sections are accommodated."

Suresh Krishn, MD, Isha Homes feels that such projects also offer better saleability, as they cater to multiple economic segments. However, most of these projects are in various stages of planning and construction; so as of now, there is no completely functional model in and around Chennai. Suresh is of the opinion that though this is a good concept and managing such properties will pose challenges. "Each type of development, whether it is a villa or an apartment, requires a completely different set of amenities, including security systems. Planning and maintaining such projects is going to be a challenge and since the city doesn't have a working model yet, we will have to wait and see how this pans out," he adds.

Developers like the Mumbai-based Mahindra Group have always believed in catering to various segments in their projects. When they started work on the ambitious Mahindra World City project in Paranur, the company was sure that they wanted to build a city that was not only best in class, but which will also cater to different segments of society. "When we planned the Mahindra World City, we realised that we have to take into account the different demographics and psychographics of the people who will live there. We believe in an inclusive philosophy where projects will cater to all segments," says Sangeeta Prasad, Chief Operating Office, Mahindra Group. "Our Aqua Lily project is, for example, a mix of villas and apartments. There definitely is a trend towards such developments, however, it may not be feasible all the time because it could result in a mish-mash,” she says. Sangeeta adds, “When people look at buying a house they usually prefer an environment that matches their sensibilities."

R Kumar, Managing Director, Navin Housing and Properties (P) Ltd, views it as a welcome trend and feels that more developers should focus on catering to different segments of society. "It is a builder's responsibility to provide a well functional, eco-friendly complex that will cater to people from different categories in society. The trend is here, but this can be implemented only in large projects like mini townships that have huge tracts of land at the developer's disposal," he says. "For the developer, it makes a lot of sense as it will allow him to utilise FSI to the maximum as a mixed segment will include villas, row houses and apartments. Our company is quite keen to work on a project like. But our first attempt failed due to the restrictive approval policies of the CMDA (Chennai Metropolitan Development Authority). The best examples of mixed development can be seen in Mumbai suburbs like Andheri, where several developers have taken up such projects. They are the need of the hour in Chennai too, but the CMDA here has several restrictive policies that deters developers from taking up such projects. If the CMDA officials could be convinced about its benefits, we could soon see more of such developments in future," he says.

http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOICH/2012/03/17&PageLabel=41&EntityId=Ar04100&ViewMode=HTML

OWN A LUXURY VILLA FOR THE COST OF AN APARTMENT! WITH ARTHA MEADOWS, OFF GST ROAD

India's burgeoning cities are making living spaces more and more cramped. The sky high costs have forced many to move into match-box style apartments that barely offer accommodation. Under such circumstances, even dreaming of a villa seems a distant dream. This is where Artha has made a paradigm shift.

Artha has transformed the way home buyers think. It offers luxury villas at the cost of an apartment. Imagine, an elegant villa in a gated community with French windows overlooking your own lawn. In a pollution-free environment with clear blue skies, fresh breeze and plenty of lush greenery. Where the mind is set free from the stress of daily life, your very own space to live and experience life the way you want to. Complete with all the amenities of modern living. Artha Meadows from the house of Artha is a huge, expansive 7.5 acre project.

Suresh Rangarajan, CEO, Artha, says, "We have successfully marketed and sold 20 projects in Chennai and Bangalore in just 3 years and have achieved high levels of customer satisfaction. Our USP is value for money; we offer a 3-Bedroom Villa set in a gated community starting just Rs. 25.95 lakhs. This is an aspirational product at an unbelievably affordable price. The elevation is contemporary and each villa is designed to look elegant and charming. The design is aesthetic and functional and has a luxurious use of space." We have not compromised anywhere on quality but are able to provide this price because of the more economical land prices."

Each villa is a wonderfully designed space that incorporates modern design and offers the kind of privacy that an apartment can never do. Take the internal staircase or the private kitchen garden for instance. The plan has been designed by a leading architect and has used space to the optimum yet allowing room for comfort. The materials used are of high quality and the accessories are from reputed brands.

Artha Meadows is strategically located in on the arterial GST Road in Chennai and lies just 3 kms from Mahindra World City. It affords the peace and privacy of an exotic resort and yet remains easily accessible. The best of both worlds literally, is situated closed to many world class facilities including schools, apparel and fashion accessories SEZs, Auto ancillaries, the world's best known IT marquees like Capgemini, Infosys, Wipro, Renault Nissan, Mastek and others.

Artha Meadows is well-connected to the city through rail and road. It lies just 4.5 kms away from Paranur Railway Station and 38 kms from the Chennai airport. A shuttle service is operated every 30 minutes between Mahindra World City and GST Road. This makes access quick and easy.

Artha Meadows offers a host of amenities that have been thoughtfully planned and executed. The Club House is the epicenter of plenty of sporty and fun activities. It offer facilities like a Swimming pool, Gym, Multi-purpose Hall, Cafeteria and indoor games. The large swimming pool invites one to slip into its cool embrace and wash away every trace of stress. The Gym is wellequipped with modern equipment and is the perfect way to stay healthy and energetic. The Multipurpose Hall is the ideal space to host get-togethers and small functions. The Cafeteria is a great hangout to catch up with a conversation and take a quick bite too! A range of Indoor Games are offered to keep one engrossed for hours.

Artha Meadows is self-contained and one does not really have to leave the premises to shop or to get routine chores done. Amenities include landscaped gardens, ATM, Clinic & Pharmacy, Laundry, Departmental Store and shuttle service. The lovely landscaped gardens are ideal for an evening stroll or to just immerse yourself in the vibrant beauty of nature. The well-stocked convenience store ensures that you do not have to rush out of the gated community every time something on the grocery list runs out. Some of the other features are well-laid roads, 24x7 Security, uninterrupted water supply and others.

Other exciting amenities that are expected to come up are a Gold Souk, so one can indulge your eternal desire for this precious metal. There will also be a huge Canopy which is a shopping, lifestyle and commercial centre spread over a huge area of 60,000sq ft.

When it comes to children's education, there's no cause for worry as good schools are available in the neighborhood. Artha Meadows is located close to excellent educational centres like Mahindra World School which is an international school spread over 5 acres and located just 3 kms away.

Maintenance is no hassle as Artha has a team to take care of this. Artha Meadows is located at a place where the value is fast appreciating. Investing here is not just an investment in your dream but a wise one whose value keeps growing. You can have your very own private sanctuary where you own not just the villa but the plot of land too. Hence the investment and appreciation potential is much higher.

Artha has signed up the leading Southern actress and recently crowned Dreamgirl - Hansika, as the brand ambassador of Artha Meadows. Given that Artha Meadows is all about dream villas, who better than the Dreamgirl herself to endorse the project.

http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOICH/2012/03/17&PageLabel=42&EntityId=Ar04200&ViewMode=HTML

RISE TO GLORY
the growth story of Velachery from a sleepy hamlet to an emerging residential hotspot in South Chennai

http://epaper.timesofindia.com/Repository/getimage.dll?path=TOICH/2012/03/17/42/Img/Pc0420400.jpg

http://epaper.timesofindia.com/Repository/getimage.dll?path=TOICH/2012/03/17/42/Img/Pc0420600.jpg

http://epaper.timesofindia.com/Repository/getimage.dll?path=TOICH/2012/03/17/42/Img/Pc0420500.jpg

Velachery is growing at break-neck speed but it still manages to retain its old world charm. Take a walk down the Taramani Link Road and the by-pass road and you can see a huge crowd of hip, 20-something girls and boys hanging out at the local eateries or busy shoppers making a beeline to high-end branded showrooms that dot the main road. Walk a little further and you are greeted by skyscrapers and large residential complexes. Amidst traffic snarls and a new landscape, this sleepy neighbourhood has etched its own metamorphosis. The new Velachery is vibrant, and is a work in progress.

"Velachery is one of the older localities with good social infrastructure. However, land is scarce as most of it has already been developed. But it is in the throes of development as builders are keen on setting up projects here," says R Williams, a senior citizen and a resident of the area for the past 38 years.

"In the last five to six years, the locality has undergone a sea change. A lot of old buildings, particularly large bungalows, have been razed and very high-end commercial and residential buildings have come up. These have changed the very face of Velachery," explains Stanton Morrais, Director, Vindhya Homes. "Velachery has developed
into a residential hub today providing quality residential developments, commercial offices and glitzy malls with good retail options. One of the main reasons why Velachery is witnessing a huge facelift as compared to other older localities of the city, like Adyar, is its proximity to OMR. Another reason for the development in the area is its huge contribution to the IT industry. Nearly 30 to 40% of IT employees are from this neighborhood. Their exposure to modern developments abroad and demand for quality residential space has pushed up the real estate development in this area," he adds. However, residents in the locality still like the area for its innate old world charm. "Despite the change it is witnessing, Velachery retains the flavor of good old Chennai," adds Stanton.

N Ravichandran of True Value Homes (TVH) says, "The government lacks clarity in promoting infrastructural developments here. This locality has the potential to be a very huge separate township by itself. People of all income groups are nested here and witness the growth of the locality everyday. However, frequent powercuts and long-pending road widening projects are impediments to its growth." Water supply lines, better sewerage system, development of link roads and stormwater disposal systems are expected to be completed soon. Besides these, a number of other projects are being implemented in the area. A number of projects - Monorail, satellite bus terminus, lake beautification, Phoenix Mall, Grande Mall, etc, have been planned in this area.

Once all the proposed retail malls, commercial buildings, hotels and commodity markets are operational in the next couple of years, there will be a surge in economic activities in the area. This will also lead to demand for real estate, both residential and commercial, in the area. "This locality has good connectivity and it will improve further in the coming years. I wanted to purchase an apartment here when I came back from the US in 2005 and I’m glad that my investment in here has proved to be a wise decision," says Srikanth Menon, an employee of Cognizant Technology Solutions.

"Residential apartments in the locality command a very good price, particularly projects that offer the latest amenities. Prices for residential built-up areas range from 5,500 to 8,000 per sq ft, depending on the type of construction. With the opening of the Pallavaram Highway which leads to the International Airport at Meenambakkam, Velachery is the new gateway to South Chennai and is fast emerging as one of the most sought-after hotspots of the city," says G Ramanarayanan, a real estate consultant in the locality.

QUICK BYTES
VELACHERY IS ONE OF THE OLDER LOCALITIES WITH GOOD SOCIAL INFRASTRUCTURE. HOWEVER, LAND IS SCARCE AS MOST OF IT HAS ALREADY BEEN DEVELOPED. BUT IT IS IN THE THROES OF DEVELOPMENT AS BUILDERS ARE KEEN ON SETTING UP PROJECTS HERE
VELACHERY HAS DEVELOPED INTO A RESIDENTIAL HUB TODAY PROVIDING QUALITY RESIDENTIAL DEVELOPMENTS, COMMERCIAL OFFICES AND GLITZY MALLS WITH GOOD RETAIL OPTIONS


http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOICH/2012/03/17&PageLabel=42&EntityId=Ar04201&ViewMode=HTML

i wonder what will happen to the underground water level when these huge structures are occupied..

Exactly....I read somewhere that they are going to build multistoreyed buildings in Ashok Nagar...that's a bad idea..we are all talking abt increasing the FSI....will they augment water supply also?

City needs to grow both horizontal and vertical to accommodate/sustain the current and future economic activity.

When CMDA did the master plan for 2025-26 they would have planned for all the amenities like water, sewage, transportation, power etc.

I read recently Chennai is creating one more reservoir to take care of the expanding city limits.

City needs to grow both horizontal and vertical to accommodate/sustain the current and future economic activity.

When CMDA did the master plan for 2025-26 they would have planned for all the amenities like water, sewage, transportation, power etc.

I read recently Chennai is creating one more reservoir to take care of the expanding city limits.

If we care to take care of all the lakes in suburban chennai, fence them properly, desilt/deepen them and put proper storm water drain network, Chennai's water supply can be doubled and infact we can even support twice the present population. But then that means that we should also control the RE Mafia...

RISE TO GLORY
the growth story of Velachery from a sleepy hamlet to an emerging residential hotspot in South Chennai




Velachery is the next Annanagar+TNagar in making for sure. Or even better given that it is going to have a MRTS, Mono, Metro, and Suburban Rail and Bus Stand in /near by..

I can say this as someone who has seen the place from early 1980s.. then Velachery was famous as a place for newcommers to rent out cheaply. Then full of carpentry shops and woodmills. Vijaynagar was so cheap since those who lived there needed boats every rainy season . Everything has changed for better now. Hope the flyover @ VLCY junction is completed ASAP, otherwise the place will choke .

City needs to grow both horizontal and vertical to accommodate/sustain the current and future economic activity.

When CMDA did the master plan for 2025-26 they would have planned for all the amenities like water, sewage, transportation, power etc.

I read recently Chennai is creating one more reservoir to take care of the expanding city limits.

chennai will have surplus water as cost of desalination of sea water will become much lower than the present cost of 7 paise per litre in a decades time and improvement in technology for conversion has already brought down the cost to 4 paise per litre in some countries.

http://img.makaan.com/images/iq/article-images/Chennai20120315055320.jpg

SRC: http://makaaniq.makaan.com/property-market-overview-february-2012-chennai.html

Guideline values of properties of agricultural lands have, on an average, gone up by 270 per cent.
In contrast, the values of properties in residential areas have seen an average 170 per cent rise.
The revised guideline values will come into force from April 1. Details regarding the new values will d be hosted on the website of the Registration Department shortly.
Analysing the revision, an official says that higher increase in the values of agricultural lands [compared to those of house sites] is due to greater real estate activity in areas on the outskirts of cities. For example, Tirumazhisai, about 30 km from Chennai, has farm lands. But, it is in such areas where the degree of real estate developments is higher compared to core parts of Chennai. This has a direct bearing on land value, resulting in greater increase in the values of properties in peri-urban areas. For a comparison, the real estate activity in localities of Chennai such as Anna Nagar and Purasawalkam has reached almost the level of saturation.
Secondly, the base of the present guideline values of the agricultural lands in peri-urban areas or fringes of cities is very low.
The previous revision in guideline values across the State was carried out in August 2007. Explaining the decision regarding the revision in guideline values, Finance Minister O. Panneerselvam stated that the State was losing huge revenue due to non-revision of guideline values even after substantial increase in the market value of properties.
To give relief to the public, the stamp duty on instruments of sale and other instruments would be brought down from the present rate of six per cent to five per cent with effect from April 1, he added. With a few more days to go for the conclusion of the current financial year, approximately 32 lakh documents have been registered, fetching around Rs. 6,200 crore. While the growth rate in terms of document registration was a mere five per cent, the rate in terms of revenue collected was 28 to 29 per cent.
The wide variation in the growth rate figures has been attributed to streamlining in the mechanism of registration such as insistence by the authorities on proper fixation of values for house sites/ layouts and the consequent reduction in the rate of documents referred to the district authorities under Section 47 of the Stamp Act. The implementation of the Samadhaan scheme and registration of more number of high value documents have also been cited as reasons.
K. Shanmugam, Principal Secretary (Finance), in his post-budget press briefing, stated that the receipts from stamp duty and registration were expected to grow at about 31 per cent in 2012-2013 due to the revision of guideline values. According to the budget document, expected revenue from collection of stamp duty and registration for the next year would be around Rs. 8,467 crore.

src: http://www.thehindu.com/news/states/tamil-nadu/article3251798.ece

The all-in-one mantra

http://www.thehindu.com/multimedia/dynamic/01038/31PPFLATS_1038774f.jpg

A few years ago, whenever someone planned on renting or buying a house, the first question he would ask was whether there were schools in or around the area.

This would be followed by a volley of questions as to how far the property was from the bus stand, railway station and market. Yes, locations played an important role in zeroing in on a house then. But, is it still so?

Earlier, people chose to live in specific locations but they are now leaning towards large, self-contained townships. What is driving them there? Is it the amenities or the “lung space” (green areas) they offer?

Green spaces

Generally, people live within the CBD (Central Business District) limit for want of good schools, shops, entertainment and restaurants. The idea of a self-contained township was far-fetched. Developers did not take up large townships within the city due to non-availability of land. They were happy constructing around 30 units with limited or no amenities.

Today, central locations are congested and shrinking. They provide no “lung space”. While this might have provoked the change, it all comes down to the fact that people want a peaceful life at home.

They also realise self-contained townships can provide both lung space and a slew of amenities. These township projects have minimal plot coverage and offer a lot of green cover within the project, adding to the pleasures of community living.

Now, the big game changers are landscaping, serene surroundings, schools, club houses, health club facilities (indoor and outdoor sports), multiplexes, health care, restaurants and swimming pools. This is attracting buyers, says A.S. Sivaramakrishnan, associate director, Residential Services, Jones Lang Lasalle.

According to Cushman & Wakefield India's report, the demand for residential units in Chennai is likely to grow at a rate of 11 per cent from 2011 to 2015. The supply, over the next five years, is expected to be around 1,17,500 units, which is higher than cities such as Bengaluru, Hyderabad and Pune. Chennai witnessed nearly 100 residential project launches during 2011 alone and approximately 15,000 units will be available in the next two to four years. The supply is concentrated on the mid-segment and peripheral markets.

In the last 10 years, Chennai has mostly had stand-alone projects with one or more buildings. But with the advent of IT and opening up of real estate to FDI (Foreign Direct Investment), townships happened. Today, one can see multi-storeyed buildings across the city, says R. Kumar, managing director, Navin Housing & Properties Pvt. Ltd.

A disadvantage?

But Kumar is of the view that while the self-contained residential space offers quite a few infrastructural and social amenities, they still cannot match the conveniences of centrally-located homes. Staying away from the city and not experiencing its bustling life is certainly a disadvantage, he feels.

Have townships changed the residential market? They will certainly influence the residential market concept, says Kumar. But, over a period of time, these communities will also become preferred locations by themselves.

However, Vasudevan, president, Embassy Property Developments Ltd., feels the concept of townships will take a long time to catch on in Chennai, and at present, most of them are not ready for occupation. Compared to its Gurgaon counterpart, Chennai has a long way to go. But townships will be a reality once big developers set foot here.

Sivaramakrishnan is hopeful self-contained townships will change the way we live in metros.

The market anticipates that once a large project is executed, the momentum towards “real, large, well-equipped communities” will pick up.

http://www.thehindu.com/life-and-style/homes-and-gardens/article3263018.ece

Emerging trends in Chennai residential mart (http://content.magicbricks.com/emerging-trends-in-chennai-residential-mart?fromSite=toi&utm_source=toi&utm_medium=referral&utm_campaign=toi-mb-whitelabel)

http://content.magicbricks.com/wp-content/themes/timesofindia/img_resize/timthumb.php?src=http://content.magicbricks.com/wp-content/uploads/2011/11/chennai1.jpg&w=292&h=200

Chennai has witnessed steady growth in its residential market in the past few years, with the economy springing back to action, the residential real estate market, too, has recovered strongly. Demand has returned, prices have increased substantially and a number of new projects have been launched in the market.

The growth in Chennai’s residential market may be attributed to the fact that it is primarily end-user driven. Investor participation is long term in nature, thereby mitigating a speculative market scenario. Stability in the market since 2010 has instilled confidence in the end-users to proceed with their purchase decisions.

Demand was more evident in the mid-end category, primarily towards the peripheral locations of the city where majority of the affordable projects are located. However, unfavourable global economic state of affairs and a higher rate of interest in the second and the third quarter of the year somewhat dampened the optimism in the market and slackened the sales figures. Despite the subdued economic conditions, developers went ahead with their plans and several large scale projects were announced during 2011. This may be due to the fact that the Chennai market is primarily self-sustained and is not much affected by the upheavals in the global markets.

Supply and Development

According to a study by Knight Frank India, Chennai is slated to witness the infusion of around 67500 residential units in the forthcoming three years. Chennai south leads the market in terms of number of units under construction accounting for 68% of the total number of units coming up in the city, followed by the western region with 27%.

The southern part of the city is mostly preferred by people employed with the IT/ITeS sector due to the presence of the IT corridor in the region. Majority of the new projects are situated along the OMR in locations such as Perungudi, Sholinganallur, Thoraipakkam, Tambaram and Perungalathur. Another emerging market on the OMR with several new residential launches is Kelambakkam, which is more investor driven due to its lower prices. Of late, the IT/ITeS corridor of OMR is fast turning into a self-sustaining region with a number of good schools, colleges, hospitals and organised retail, thereby further augmenting residential market growth in the region.

In the western region, mention can be made of Sriperumbudur where a number of residential projects by leading developers have been launched. Sriperumbudur is strategically located on the Chennai Bangalore highway and improved infrastructure coupled with the presence of major industries will continue to drive residential prospects in the region. Other prominent micro-markets in west Chennai witnessing residential development include Mogappair, Oragadam, Vanagaram and Porur.

The northern and central parts of the city have minimal supply lined up for the next few years. However, the dearth of developable land notwithstanding, several prestigious projects are scheduled to become operational in central locations like Kilpauk and Egmore.

These locations house smaller projects in the premium category catering to HNIs and have demand for individual bungalows as well as re-sale properties. On the other hand, Purasawalkam, Tondiarpet and Ayanavaram are some of the key micro-markets in the northern region which have witnessed the launch of residential projects by reputed developers.

Another important observation regarding the Chennai residential market is the demand for 3 bedroom apartments exceeding other unit configurations. Around 46% of the total number of units under construction belongs to the 3 BHK category, followed closely by 2 BHK at 44%. While 1 BHK and 4 BHK apartments are lower in numbers, 5 BHK apartments understandably have a marginal presence in the number of units underway in the city.

Significantly, the projects under construction have seen encouraging absorption with all the regions witnessing more than 50% of residential units sold. Barring the central locations, which saw around 51% absorption, 60-64% of the total number of units in the residential projects under construction in the other regions has been booked or sold.

According to a United Nations study, Chennai has a deficit of around 60000 housing units.

About 6000 of them are in the high income group segment, 12000 in the middle income group and 18000 in the low income group. The economically weaker sections in Chennai need 24000 housing units. While around 67500 residential units are in the pipeline, they will be catering to the housing needs of the high income and the mid income segments only. This has led to the demand for a change in the city’s development control rules to facilitate more residential growth.

With the quantum of supply lined up in the aforementioned categories, developers may be faced with pressure on pricing in the forthcoming quarters. However, prices are unlikely to decline drastically due to the rising cost of construction.

V Nagarajan, Property consultant

The sluggish property market in Mumbai is not an indicator of the boom witnessed in the rest of India. If the absorption rate of property is anything to go by, Bangalore, Chennai, Gurgaon are witnessing a significant demand for residential property.

Here are trends that could help you comprehend the trend in each city:

Absorption rate: Absorption rate is the number of apartments sold per month of the inventory in a particular market. It is an indicator of the demand situation in a particular real estate market. For example during the calendar year 2011, Mumbai (includes Navi Mumbai and Thane) saw 6,650 apartments sold each month against 9,092 in 2010, according to JP Morgan, a global bank. This means, the absorption rate fell 27 per cent. Every property market has an inventory of apartments. If the absorption rate is high, the inventory gets exhausted quickly. With the absorption rate in Mumbai falling, it will take two years to sell the unsold inventory.
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Chennai: The residential absorption rate in Chennai rose 37 per cent in 2011. High launch activity has resulted in increased unsold inventory in the market. Unsold inventory rose to15 from 10 months early last year. Average property prices rose 8 per cent to 30 per cent in pockets from Anna Nagar to Rajeev Gandhi Salai.
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(Based on report by JP Morgan)
http://profit.ndtv.com/News/Article/property-demand-bangalore-chennai-and-gurgaon-hot-mumbai-cold-301232

Happen to see to these projects ... Ponnamallee and areas around have started to get many projects including the following !

Jamals Sana Homes

http://jamalsenterprise.com/sana_homes/index.html

Jamals Luxor

http://jamalsenterprise.com/luxor/index.html

XS Real Properties launches Villa Boutique on OMR

he Chennai-based XS Real Properties, a fast-growing property development company promoting properties under three different brands to cater to the needs of middle, upper middle and high income groups, has now launched Villa Boutique in Srinivasa Gardens at Padur on OMR, the city’s IT corridor.

The project, spread across an area of 100 acre, offers 23 villas in built up sizes of 2,400 sq ft and 2,500 sq ft. The project has common amenities such as clubhouse with a terrace swimming pool, gym, a combined indoor games and party hall, besides common water and sewage treatment plants and DG power back up for each villa. Each villa will have two car parks.

“The OMR stretch has already been flooded with large projects. Hence, we would launch a small exclusive segment of homebuyers who would look to live in a small community environment,” says S Suresh, business head, XS Properties.

According to him, unlike in a large community where the common amenities could be found wanting, the facilities in a smaller community will offer a superior living experience. “Con*temporary design and aesthetics, lush green surroundings, wide roads and easy connectivity makes Villa Boutique an ideal destinati*on for homebuyers,” Suresh added.

The Mahabalipuram Local Planning Authority (MLPA), the local panchayat body, has approved the project. Also, the villas will be basic vaastu compliant and allow customisation within technical limits, a company statement said.

The company has offered an all inclusive launch price ranging between Rs 1.38 crore and Rs 1.5 crore, depending on the size of the villa. The project is likely to be ready for possession in 12 to 13 months from now.

http://www.mydigitalfc.com/real-estate/xs-real-properties-launches-villa-boutique-omr-781

^^

Location Map

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http://www.xsreal.com/xqsit/villa-boutique/index.html

XS Real - Siena, Helios City

http://www.xsreal.com/xqsit/siena/index.html

Location

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Master Plan

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Elevation

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Status

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XS Real Green Edge

http://www.xsreal.com/xqsit/greenedge/green-edge.html

Location

http://www.xsreal.com/xqsit/greenedge/images/green-edge-location.jpg

Elevation

http://www.xsreal.com/xqsit/greenedge/images/green-edge-big.jpg

Really resilient times for real estate, cheer up, folks!
Outlook for the year is positive as we will continue to be one of the high-performing economies, builders


In the cusp of expansion:Chennai happens to be a major market for real estate in Tamil Nadu. An aerial view of residential houses and commercial complexes near Koyembedu in Chennai.— Photo: S.S. Kumar Tamil Nadu market has traditionally been conservative and is primarily driven by end users. The State has one of the highest numbers of industries in the country and is among those with the highest urban population. With the increase in investments in infrastructure, manufacturing and IT/ITES sectors, the growth in the real estate sector is bound to increase.

Last year was one of the most resilient periods of growth in real estate absorption, primarily due to the confidence exhibited by occupiers in their growth plans. Chennai experienced 5.1 million sq ft of office space absorption in 2011-12. This is a 30 per cent increase when compared to the space taken up in the city in 2010-11.This year, there is cautious optimism in the air amidst the economic crisis in Europe and slow recovery in the US. The expected absorption in 2012-13 is around 4.3 million sq ft.

Last year, nearly 41 million sq ft space was built for residential projects and absorption was about 36 million sq. ft. in Chennai. Similarly, 4 to 4.5 million sq ft in commercial space was built in Chennai, with about 25 per cent being vacant.

Coimbatore is shining as a secondary destination in the state for IT/ITES, thanks to its quality manpower, economic and industrial environment. With corporate giants like Dell, HCL, IBM ramping up in Coimbatore, the city has gained a trusted status as an IT destination. Madurai, Tiruchi and Thanjavur are following suit, with plans from the government for quality infrastructure increasing their investment favourability in the eyes of corporates. Chennai happens to be a major market for real estate in Tamil Nadu. Last year, against a launch of 41 million sq ft, the market saw absorption of about 36 million sq ft and would see a growth of 10-15 per cent in absorption this year on the back of easing interest rates.

Besides Chennai, the other cities in the State did not see growth because of lack of availability of quality office space supply, established stream of quality manpower and poor marketing prowess. A focussed approach towards development and infrastructure along with a strong drive to attract more IT/ITES investors is essential for the welfare of the State, as compared to the others in the near future.

The State Government is currently making efforts to provide more homes in the affordable housing category and towards this an increase in FSI (Floor Space Index) for providing homes under the affordable housing category has been introduced. The Government can make efforts to introduce a single window system for grant of approvals in a time bound manner.



Residential market

The appreciation in residential real estate is due to shortage of homes across the country. As per the government report, it is estimated that by 2012 there would be a need for nearly 27.6 million homes. Chennai would account for 11 per cent or 3 million homes by 2012. According to a recent McKinsey report, nearly 60 per cent of the entire population will move towards urban areas for employment and housing. This will eventually create a demand for housing, says T. Chitty Babu, Secretary, Confederation of Real Estate Developers' Association of India.

The residential real estate market in Chennai is unlikely to see a plateau any time soon. The combination of factors ranging from increase in number of nuclear families to growing job opportunities in Chennai and around it have led to a steep demand for residential real estate market.

Chennai has always been a conservative market as far as residential real estate is concerned. It had two types of consumers – first-time buyers and those looking for a second home (investors). With several employment opportunities available in Chennai and surrounding areas, people have started migrating from other places. This has created a need for affordable housing. The need for owning a house was also due to increase in the rental value within the city. Instead of going for rented accommodation, the first-time buyers prefer to go for an outright purchase of a property with the help of housing loans. As far as investors (the second category) are concerned, they prefer to invest in land or a house as it fetches more or equal appreciation.

Over a period, the supply could not meet the demand within the city. This led to a natural extension of urbanisation towards to suburbs. During 2004-05, Chennai saw larger development happening in suburbs. New pockets were opened such as Old Mahabalipuram Road (OMR), Grand Southern Trunk Road (GST road), Oragadam, OMR-GST connectivity roads. Then came the 2008 recession; when other markets like Mumbai, Delhi, Hyderabad and Bangalore felt the heat, Chennai survived. The market in Chennai fell by 5 to 10 per cent only. However, from the first quarter of 2009-10 onwards the market had a sustained growth by 10 per cent.

The demand for residential units in Chennai is likely to grow at a rate of 11 per cent from 2011 to 2015. The infusion of supply over the next five years is expected to be around 1,17,500, which is higher compared to certain other major cities such as Bangalore, Hyderabad and Pune. Chennai witnessed nearly 100 new residential project launches during 2011 and approximately 15,000 units will be available in the city in the next two to four years. The supply during the year was mainly concentrated towards the mid segment and peripheral markets.

Commercial Market

Again since Chennai is the major market for commercial would like to share that about 4 – 4.5 million sq ft was absorbed last year and we should see similar absorption this year too. The outlook remains stable for the commercial segment. The majority of this year's supply (6.2 million sq ft)?is expected from IT/ITES special economic zones. Of the total stock of 46.1 m sq ft, about 27 per cent is available for absorption and with the expected demand this year, the vacancy level is expected to marginally drop to 26 per cent.?

Kalpana Murthy, Associate Director – Residential Services, Cushman & Wakefield India, said that the Chennai market report indicates that total commercial space absorption forecast for 2012 is 4.2 million sq. ft, which is a 9 per cent increase from the last year's absorption. Chennai apart from Bangalore is the only city to witness positive demand over the supply that entered the market.

Chennai is expected to register a supply of approximately 1.4 million sq ft. in 2012, 72 per cent lesser than the total supply in 2010. This is due to fewer project developments initiated during the recessionary period, project completions being delayed and a more cautious approach towards planned developments. This slowdown in office supply is a positive indicator for the office real estate segment.

The higher growth potential of demand and the restricted supply during the year makes Chennai the only market that has seen a drop in vacancy this year, apart from Bangalore, with 2011 vacancy being 16 per cent when compared to 20 per cent last year. It is also lower compared to some of the major cities such as Pune, Kolkata and Mumbai.

Demand generators

Sivaramakrishnan A.S., vice-president (Residential Services), Jones Lang LaSalle Property Consultants, says that initially, the growth in Chennai real estate market was driven by information technology companies. This phenomenon got changed with entry of multi-nationals in the automobile and ancillary, telecom and engineering segments. These multi-nationals have created new pockets in suburbs. People move into these suburbs for want of jobs. This has led to the development of various industrial zones such as DLF SEZ, IT parks in Ambattur and Guindy, Industrial parks in Poonamallee, Irungattukottai and Sriperumbudur, ELCOT IT Park, Siruseri SIPCOT IT Park and financial city at Perumbakkam in Chennai and around it.

All these industrial parks are bound to attract residential townships in and around these areas. For example, the Tamil Nadu State Government has issued directive to include Ambattur into Chennai Corporation from October 2011. The former SIDCO industrial site in Ambattur is now transforming into an IT hub. These factors will generate several up-market residential areas in Ambattur and around it. Similarly, industries in Irungattukottai and Sriperumbudur are also hoping to create new townships in these locations. Sriperumbudur SEZ has companies such as Hyundai, Saint-Gobain, Nokia, Foxconn, Samsung, Dell, Motorola and many more who have invested more than $2 billion. On the southern suburb, Siruseri Sipcot IT Park on OMR has housed all the IT companies across the globe and this has attracted more number of residential projects.

Spread of residential real estate has been happening in and around the four major corridors namely National Highway 4, OMR, GST road and Outer Ring Road (emerging corridor). There are several residential projects coming in the corridor which are being built by various developers such as Mantri, Hiranandani, Puravankara, DLF, TVH, ETA, Olympia, Akshaya Homes and name a few.

Outlook and demand

Some of the key demands from CREDAI side are introduction of a single-window system for grant of approvals in a time-bound manner. Other demands are withdrawal of impact and infrastructure fee, conversion of IT space into commercial space, provision of social infrastructure for development of township and provide water, waste management, transport facility and social infrastructure in the growth hobs of O.M.R, G.S.T Road and Oragadam. The outlook for the year is positive as we will continue to be one of the high-performing economies clocking 7 per cent GDP growth. With inflation seemingly under control the interest rates should soften which apart from increasing urbanisation should see demand growing for residential spaces.

The second biggest challenge is to improve the occupancy rate in the completed projects. Many suburbs have huge supply of houses but poor connectivity for potential commuters. Mr. Chitty Babu feels that this issue has to be addressed by the State Government and the city planning authorities. Tamil Nadu which levied and collected impact and infrastructure fees from the developers has not deployed in the same place from where the money had been collected.

If it had been deployed in the same location, the occupancy rate would have increased. It is clear that developers will only provide all the required facilities within their preview and the rests are vested on the local government.


http://www.thehindu.com/todays-paper/tp-features/tp-editorialfeatures/article3264388.ece

http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOICH/2012/04/07&PageLabel=4&EntityId=Ar00400&ViewMode=HTML

HIGH-RISE Market

City’s Realty Prices Have Risen 196% Since 2007, The Highest Growth In 15 Cities

Jayaraj Sivan | TNN




The residential apartment market in Chennai has been the most stable among urban centres in the country in the past four years. Residex, the residential price index brought out by the National Housing Bank, shows that except for a slight correction in 2008 on account of the global economic slowdown, apartment prices in Chennai registered a steady growth, quarter after quarter.
Among the 15 cities covered in the survey, Chennai witnessed the maximum growth of 196% between December 2007 — when NHB started recording Residex — and December 2011. While prices softened all through 2008, they went up by 48% in 2009, 49% in 2010 and 38% last year. These figures do not reflect Chennai’s suburban markets, which are not covered by the study. Pune and Mumbai are the only other markets that re m a i n e d f a i rly steady during the same period. Pune is only 84% above the 2007 mark and Mumbai has gone up by only 93%. New Delhi, though not a booming market, has seen some incremental steady growth.
Most other cities have had a chequered graph. For instance, Kolkata, Faridabad and Bhopal, despite growing during the turbulent times in 2008, could not maintain the tempo.
The worst markets, however, are Jaipur, Hyderabad, Kochi and Bangalore, in that order. They are still below the 2007 base index of 100 points. Jaipur is 36% below, Hyderabad 21%, Kochi 18% lower, and Bangalore has just about recovered to the 2007 mark.
A fine balance between the demand and supply apart, Chennai has traditionally been a conservative, end users’ market, noted Confederation of Real Estate Developers’ Association of India secretary T Chitty Babu. “Chennai was the first city to recover from the 2008 fall. The city and its suburbs have seen robust growth in automobile, telecom, textile and leather industries, over and above the IT sector. About one lakh jobs have been generated annually in the past two years,” he said.
Moreover, the central business district (CBD) or the core city does not have much space for creating new residential stock. When the middle class and the lower middle class move to the suburbs, the affluent are keen on staying within the city. It pushes the realty prices up, noted Babu.
This has had a negative fallout on the suburban market as well. Nanganallur, Adambakkam, Mogappair and other residential hubs on the periphery of the CBD, which were havens for the middle and lower middle class for close to two decades, have become exceedingly costly over the past year. A builder developing a 64-apartment project in Nanganallur is now quoting Rs 8,500 per sq ft. The overall price of the smallest apartment in the project is close to Rs 1.25 crore. This is a place where the price was in the region of Rs 3,000 to Rs 5,000 till recently and one could buy a house for less than Rs 30 lakh.
Another leading builder is demanding Rs 9,000 per sq ft at Mogappair. A leading banker said, “I can understand if a builder quotes that price in the CBD. Builders are jacking up prices all over and making cities unaffordable for the masses. Chennai is not an island to remain permanently insulated from the rest of the world. Realty is like the stock market. Nobody will know when it crashes.”

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Fresh air, silence drive flat sales on GST, OMR


It’s back to basics for those looking to buy a house. Middle-class buyers are heading to the suburbs — as far as Urapakkam and Kattankulathur — not just because apartments are affordable but also as they are away from noise and pollution.

“Chennai has become congested and it’s not peaceful for retired people like me,” said Adambakkam resident S N Vijayagopal who has invested in a flat in Urapakkam. “Prices in Adambakkam have shot up and I can’t afford to buy here. So we bought a place in Urapakkam close to the suburban railway line and bus stop,” he said. “It’s calm, the air is cleaner, and the builder has promised power back-up.”

Developers have been promoting affordable apartment projects on Grand Southern Trunk Road and Old Mahabalipuram Road in the past few years. Most apartments are priced between Rs 20 lakh and Rs 35 lakh.
“As the city and its surroundings are getting crowded and expensive, owning a house here is only a dream for middle-class families. Hence, there is a gradual shift towards GST Road, OMR and Poonamallee,” said S Ramaswamy, associate director, RECS Group, a real estate consulting firm.

Lifestyle changes are also contributing to the shift. “Buyers are looking for gated communities with facilities such as swimming pools and club houses at an affordable price,” said Kalpana Murthy, associate director, Cushman and Wakefield.

GST Road and OMR are well connected and more social and civic infrastructure is planned. A monorail network is planned from Vandalur to the city, and the mass rapid transit system (MRTS) network expansion is nearing completion. However, housing projects in Sriperumbudur have not caught the fancy of buyers due to inadequate civic and social infrastructure, experts said.

People say they are willing to commute an hour or two for the benefits of living in a peaceful environment with good civic infrastructure.

“There are good schools on OMR and more are coming up alongside gated communities on GST Road. This is a good sign for buyers,” said a Mylapore-based lawyer who is planning to move into a new apartment in Kattankulathur.

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REGISTERING CHANGE
The revision in the state's guideline values of land comes after five years and is set to have far reaching consequences.

The government of Tamil Nadu has revised the rates of guideline value of land in all zones, including residential, commercial and agricultural land across the state with effect from April 1, 2012. This revision comes after five years with the last set of values having come into effect in August 2007. The revenue policy note, presented in July last year, reflected that this change was due to be ushered in and speculations were rife over the last eight months as to when the revision wouldcome into effect. In November 2011, the proposed revision of values for each region was put up for public opinion in all the Tahsildar offices and reviews were taken into consideration, before the current set of rates were introduced in the state. The new values affect all types of land including agricultural, residential,
industrial and commercial property in urban and rural areas equally. With a rise of almost 300% in many areas, the reaction to this revision has been mixed. There are three main aspects that this change brings in, the first being the prevention of black money and the loss of revenue to the state and country. "The revision is a welcome move and is set to usher in a cleansing of the real estate industry and land transactions across the state," states A S Shivaramakrishnan, Head, Residential Services, Jones Lang LaSalle India, Chennai, a premier international real estate consultancy firm. "The revision of the guideline values equaling the market value of land in most part across the state will greatly enhance the transparency index of real estate transactions in the city and promote investment and growth in a big way."

A major concern in India is cash transactions in real estate deals, which is encouraged by the divergence of guideline value and market value. People often register the transaction at guideline value (sometimes as low as 20% of the transaction value itself), pay the registration and stamp duties based on the guideline value alone (affecting the buyer of property) and reflects the accounted portion equivalent to the guideline value alone for capital gains and tax purposes (affecting the seller of the property). With such high degree transactions happening in cash in most deals, it had become rare to find buyers or sellers insisting on a fully transparent deal. This lead to huge revenue losses for the state exchequer. This is not only illegal, but also creates a vicious cycle of investment of black money in the real estate sector. "Major legal reforms are still required with respect to property valuation and land acquisitions," says RS Nambi, a Tax and Legal expert and advisor to the World Bank. "An ombudsman and valuation officer in every registering office to examine and evaluate the transactions, disputes and divergences between published values and the market can go a long way in ushering greater fluidity to real estate transactions. This revision of guideline values is the first step towards preventing the loss of revenue for the state and unearthing black money. We have to wait to see how the latest measures of the budget with respect to bringing in TDS on amounts greater than 2 lakhs will apply to property sales this year. The capital gains tax that the seller has to pay is calculated on transaction value or guideline value, whichever is higher according to law. "

The previous year saw close to `3,200 crores worth of stamp duties and registration fees being paid for property transactions between October 2011 and March 2012. The revision is expected to boost the revenue in the state this year to a figure greater than `8,500 crores in 2012-2013. Targets for revenue collections for the month of March were set for all the sub-registrar offices across the state by the Inspector-General of Registrations.

With expectations of a hike in the values, there has been a rush of registrations and many people who might have otherwise waited to conclude their transactions, were pushed to finish them before March 31. "With a high number of transactions having happened in March, the target of 21 crores set for the Neelankarai SRO was successfully achieved by the middle of the month itself," states Vimala Jayakumar who runs a document services outfit in Neelankarai. "Usually, there are around 40 registrations per day and in March it rises to about 60-70 per day. But this year, there was a heavy rush in the last two weeks of March, with more than 200 registrations happening per day." This clearly shows that the revision of guideline values will not only promote transparency and usher in more revenue to the state, but it will also act as a mechanism to force people to complete delayed transactions all at once and bring in a combined revenue to the state, which has been starved of funds. It is estimated that the combined revenue of 1000 crores has been collected by the state for the month of March 2012 through these transactions alone.

The Inspector-General of registrations chairs the committee formed by different sub-collectors across the state to determine the guideline values. The proposed values were published in November 2011 and public opinion was invited. Accordingly, they were modified before coming into effect in April of this year. Says Vimala, "Overall, the new values reflect the market rates. Wherever people disagreed with the rates, appeals were submitted and they were taken into consideration. The older and newer guideline values have been listed by survey number, street and category on the official website of the Registration Department of Tamil Nadu (www.tnreginet.net) and the website itself mentions that values relating to 1.1 lakh streets and over 29 million survey numbers.

While it is a great move to bring in transparency in the state's real estate industry, there are some concerns as to how this revision will affect the public and developers. With steep revisions of up to 270% in most cases, the question on how this re-evaluation of property will affect the common folk remains. The hardest hit areas are the centers of urban development and the heart of Chennai city. "In the peripheral areas, it is business as usual even with the hike in values. Similarly, for multi-storeyed buildings, the direct impact is not as high, since the undivided share values come up only to 20-30% of overall values. The significant impact is within city areas where the values have jumped up to unaffordable levels," says AS Shivaramakrishnan. "While the cost of land is already high in the city, the steep increase in guideline values will make it impossible for developers to be able to afford to get premium FSI for redevelopment projects. What this means is that, on old buildings that can come up for redevelopment with joint-development agreements between the owners and developers due to revision of the FSIs over the last two decades can be rendered unfeasible if the developer has to pay the kind of fees based on the new guideline values for the premium FSI that would be his profit centre. Any move to provide some incentives for redevelopment projects on 25-30 year old buildings are necessary to avoid bringing redevelopment to a grinding halt.

The concern is that the move makes it all that more expensive and unfeasible for urban projects. Similarly, peripheral development needs the social infrastructure to expand accordingly. In a city like Bangalore, this has happened in concentric circles and not in an unbalanced way like we are seeing in Chennai. With the city at a crucial stage of its metamorphosis, with major infrastructure projects like the metro in progress, a significant aspect that affects its citizens and growth itself is redevelopment of existing structures and buildings. New infrastructure is being built to raise a brand new city from the ashes of the former metropolis. This has been the story in cities all across the world, right from New York to Mumbai, where redevelopment has been key to boosting its growth ahead. Hence, while it is a positive move by the government to bring in equity in the values of transactions, it is important that the city and state authorities remember that the redevelopment of its buildings is necessary for growth.

QUICK BYTES

• THIS YEAR, THERE WAS A HEAVY RUSH IN THE LAST TWO WEEKS OF MARCH, WITH MORE THAN 200 REGISTRATIONS HAPPENING PER DAY

• A TARGET OF 21 CRORES SET FOR THE NEELANKARAI SRO WAS SUCCESSFULLY ACHIEVED BY THE MIDDLE OF THE MONTH ITSELF

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Fresh air, silence drive flat sales on GST, OMR


http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=TOICH/2012/04/07&PageLabel=4&EntityId=Ar00402&ViewMode=HTML

What?? Housing is affordable and people are buying?? No way! I thought we are close to apocalypse.

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They have started marketing Pallavaram - Thoraipakam Road as velachery!! Konjam too much..

http://www.nhb.org.in/Residex/CHENNAIres.php


NHB Residex CHENNAI

Cities Zones 2007 Index Jan-Mar 2010 Index Apr-Jun 2010 Index Jul-Sep 2010 Index Oct-Dec 2010 Index Jan-Mar 2011 Index Apr-Jun 2011 Index Jul-Sept 2011 Index Oct-Dec 2011 Index
Chennai Zone 1 Dr Radhakrishnan Nagar 100 158 143 135 116 116 137 116 202
Zone 2 Tondiarpet; Narayanappa Garden 100 187 206 203 238 207 308 262 252
Zone 3 Perambur; Choolai; Edapalayam 100 197 231 268 296 267 351 301 377
Zone 4 Ayanavaram; Purasawalkam; Kolathur 100 283 454 530 593 568 557 588 618
Zone 5 Virugambakkam; Anna Nagar; Kilpauk; Nungambakkam 100 163 262 378 390 391 397 411 604
Zone 6 Nehru Nagar; Chepauk; Marina 100 175 155 161 166 134 185 300 267
Zone 7 Chetpet; Egmore 100 103 110 130 124 170 153 188 157
Zone 8 Ashok Nagar; Thyagaraya Nagar; Saligramam 100 232 242 284 248 275 323 354 427
Zone 9 Kodambakkam; Guindy; Chromepet 100 171 156 185 197 210 244 279 228
Zone 10 Mylapore; Adyar; Velachery; Thriuvanmiyur 100 141 196 221 217 205 252 283 382
City Index 100 164 183 210 214 218 248 271 296


http://www.nhb.org.in/Residex/13.jpg

They have started marketing Pallavaram - Thoraipakam Road as velachery!! Konjam too much..

Boss ithu Three much. I remember the place, during my ex-polaris days, this area was covered with thick green thorn plants, not sure whether it was was marsh land or something.

But antha areavku 4500 Rs sq ft, romba over.
Nothing is nearby except for Jersusalem college of engineering.

Boss ithu Three much. I remember the place, during my ex-polaris days, this area was covered with thick green thorn plants, not sure whether it was was marsh land or something.

But antha areavku 4500 Rs sq ft, romba over.
Nothing is nearby except for Jersusalem college of engineering.
Ashok, ippo anthe area engeyo pogiruchu...

Where is that 'Rajiv Nagar' mentioned in the location map(between Velacherry Main Road and OMR)

They have placed it right in the middle of marshland!.

Plot poda arambachitangala enna?

Nothing is nearby except for Jersusalem college of engineering.

Boss.. Intha area ku vandhu romba naal aacho?? Vandu parunga.. Place is buzzing with activity..

Pallikaranai Marsh mattum illana, the whole stretch btwn Velachery and Pallikaranai would have been a real estate hot spot..

Boss.. Intha area ku vandhu romba naal aacho?? Vandu parunga.. Place is buzzing with activity..

Pallikaranai Marsh mattum illana, the whole stretch btwn Velachery and Pallikaranai would have been a real estate hot spot..

nannum athu than solla vanthen.. infact, 4500 is relatively ok ok.

Boss.. Intha area ku vandhu romba naal aacho?? Vandu parunga.. Place is buzzing with activity..

Pallikaranai Marsh mattum illana, the whole stretch btwn Velachery and Pallikaranai would have been a real estate hot spot..

My Aptmt is closer to pallavaram station, rarely i go to opposite side of station, that too NRI for nearly five years.so less idea sirjee
But still I believe 4500 is costly. One of the apartment, 1.5 KMS from station , on the way to Kilkattalai was around 3300,probably it would be right now 3500.

My Aptmt is closer to pallavaram station, rarely i go to opposite side of station, that too NRI for nearly five years.so less idea sirjee
But still I believe 4500 is costly. One of the apartment, 1.5 KMS from station , on the way to Kilkattalai was around 3300,probably it would be right now 3500.
hm...ashok, you meant JGA? they have put 1 more projects and that is sold like hot cake.....rate/sq.feet...i think it is 5k there..
JGA started with 1.1k in 2005

Luxury project launched

A Rs 300-crore mega residential project spread across six acres of land before Sholinganallur junction in Old Mahabalipuram should dot the skyline by 2014. Adressing a press conference here on Wednesday, director and chief executive officer of ASV Constructions Vaibhav B Kamdar said the super luxury project, Alexandriea, designed by Singapore architects Team Three would have four towers, each with 17 floors comprising 374 designer homes.

The property is sea facing and is just a few kilometres from Adyar and Neelankarai. The project will be built on 20 per cent of the land and will have 80 per cent open area with lush greenery overlooking the Bay of Bengal.� Three towers will have six three-bedroom apartments of 1,850 square feet on each floor. The fourth, the signature tower, will have four luxurious four-bedroom apartments of 2,750 square feet, without shared walls to ensure complete privacy.

The apartments are expected to cost more than a crore of rupees and Vaibhav says that since they serve the IT clientele, it won’t be hard to market their property.

“Over the last 10 years we have been developing commercial complexes and IT parks with international standards, which house 500 companies such as Cisco, Aricent Group, Posco, Renault, Nissan, CTS, Tata Motors, Cap Gemini and Deloitte. Now, with OMR being declared a part of the city, we decided to develop a super luxury residential enclave targeting the upmarket segment,” said Vaibhav.

Alexandriea will have top of the line recreational facilities like a club house with gymnasium and aerobic hall, badminton and multi-purpose courts, swimming pool and jacuzzi, steam and sauna baths, squash courts, virtual golf courses, tennis courts, cricket nets, foot reflexology and other facilities like serviced apartments, a mini mart, 24/7 security surveillance, 100 per cent wi-fi connectivity and CCTV cameras, said Bharat Kamdar, managing director of ASV Constructions.


http://ibnlive.in.com/news/luxury-project-launched/247954-60-120.html

http://www.ndtv.com/video/player/the-property-show/the-property-show-residential-prices-rise-200-in-chennai/229112?hp

Luxury project launched

http://ibnlive.in.com/news/luxury-project-launched/247954-60-120.html

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http://www.ndtv.com/video/player/the-property-show/the-property-show-residential-prices-rise-200-in-chennai/229112?hp

Residential prices rise 200% in Chennai :cheers:

http://www.thehindubusinessline.com/companies/article3311700.ece

.........In the residential market, the developer plans to launch ‘uber-luxury', mid-market, and plotted developments in Bangalore and Hyderabad. In Chennai, DivyaSree would launch a 140-acre township project in a 50:50 partnership with Kotak Realty Fund. ........

PLOTS OF GOLD

Real estate yields higher and faster returns when compared to other investment options


Two or three decades ago, a typical middle-class individual would invest in a home only after taking care of his immediate needs — a child's education, a daughter's marriage, a parent's medical expenses or the occasional family vacation. As a result, he would end up buying a home only when he was in his 50s. Owning a home was the least of his priorities.

The present generation, though, is different. As soon as an individual takes up his first job, he starts thinking about investing in a home.

Around the world, real estate has always been considered an income-generating asset, says a recent report by the Chamber of Indian Industries.

Indeed, real estate is an attractive investment option, as it not only yields regular returns but also ensures capital appreciation, says T. Chitty Babu, chairman and chief executive officer, Akshaya Pvt Ltd., and Secretary, CREDAI (National).

In the last two decades, investment in real estate (as an asset class) has fetched higher and faster returns when compared to any other asset. This trend is likely to continue in the coming years. The main reason behind this is the huge demand-supply mismatch that exists in the Indian housing sector. This mismatch is unlikely to be bridged, and hence the sector will continue to fetch good returns to investors. Where and in what to invest would depend entirely on the individual and his budget, though investing in the up-and-coming suburbs of growing cities can fetch good returns in the medium and long term, says Chitty Babu.

First home

There are two types of first-time buyers, those who want to live in their own flat and, the others, who buy a flat but are forced to stay in a rented house due to personal demands. For a first-time buyer, any time is a good time, says Srinivas Acharya, Managing Director of Sundaram BNP Paribas Home Finance Limited.

Prices seem to have skyrocketed from 2007. They have almost doubled in most cases, even tripled and quadrupled in a few areas. The wait-and-watch attitude may not yield desired results. Since land is limited and construction costs are likely to go up owing to higher taxation and rise in the cost of raw materials, waiting for a downturn may not be advisable, says Chitty Babu.

In the current market scenario, buying a home and moving into it, saves on rental costs and also provides tax exemption. With a shortfall of nearly 28 million homes, it is expected that the government will provide some benefits to home seekers in the future, as housing is a basic need. In order to meet the shortfall/demand, the government needs to act as a catalyst by introducing policies that can spur demand, including the revision of IT exemption limits, says Mr. Acharya.

Second home

There are two types of investors in this category — those who look at second homes as an investment and those to whom a second home is an upgrade in their standard of living.

Most of the time, when somebody invests in a second home, it is not only for the rental income. One needs to look at capital appreciation of the property and tax exemptions available for such investments.

The rental yield from the second flat may not be enough to match EMI inflow. Hence it is an individual choice to invest in a second home after factoring in interest rates, the possible rental income and the capital appreciation expected from the property in a given time frame.

Investing in the suburbs such as OMR and GST may be wise, feels Mr. Acharya, as the demand will increase in the next two years. These two areas are witnessing increased activities in the field of IT and manufacturing. This will increase the rental value in these areas.

Investment option in land

It is a long-term investment option.

It involves lots of risks such as encroachment and land-grabbing. One should look for clear title deeds and no encumbrances. Similarly, one should check for support infrastructure. Most of the financial institutions, according to Mr. Acharya, do not offer funds for the purchase of land. If a loan is given, the buyers should construct the house within three years from the time of taking the loan.

Investment option in real-estate funds

Most real-estate funds are close-ended with a horizon of three years and the funds pay out dividends based on rental incomes. The unit value increases because of capital appreciation.

It would be advisable to understand the past performance of the funds and the returns offered to investors in the past.

However, it will only allow the fund-raising institutions to create land banks. There will be no immediate liquidity possible and these investments will be the first to get affected in a downturn.

http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article3313016.ece

Globevill project in full swing

Globevill, the mega residential township promoted by ETA STAR Property Developers Ltd, is located on NH4 Chennai Bangalore highway, Sriperumbudur near the SIDCO industrial belt.

Globevill is a much sought after housing project by customers who plan to own one right on the NH4 Highway.

According to Mr.Fayaz Ahmed, director, marketing, the company's vision is to provide increased standard of life with meticulous planning, architectural design and high grade materials.

On 82 acres land Phase I construction is in full swing and already 700 apartments have been sold.

Globevill in the near future would present 3000 lifestyle apartments of varying sizes 600 to 1300 sqft in single, two, and three BHK homes in four phases.

Now the company is going ahead with Phase III customer bookings.

Modern amenities like convenience stores, swimming pool, jogging path, bicycle track, play area, restaurant, gymnasium, clinic, are also being provided. Globevill also has a school; Ryan International school and the whole township has been designed in such a way that it is a pedestrian friendly campus.

By planning its water management, it becomes a sustainable entity.

An estimated 300,000 people are employed in the MNCs that dot the NH4 and this makes it a potential investment.

http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article3313017.ece

A mini township near Vandalur

Adinath Shantiniketan is an integrated residential apartment complex of 686 apartments in Vandalur, less than 2 km off GST.

It is in the affordable home segment. Spread over 8.6 acres of land, buyers can choose from a variety of layouts, each designed keeping in mind a different family structure.

The apartments range from 517 sft to 1091 sft; with single, double, and three bedrooms to choose from.

Given that community living is increasingly popular among modern families, a mini township is coming up, replete with modern functional and recreational amenities.

It is connected to the IT corridor, shopping malls, educational institutions, hospitals, and the Vandalur Zoo. Local buses, and trains contribute to the connectivity through Tambaram bus-stand.

The township includes a commercial space equipped with an ATM, grocery store, clinic, pharmacy, and a bakery. There is also a club house with swimming pool, day care, library, Home Theatre, Gym, and select indoor games. Modern utilities provided within the community cover – 24 hour D.G. Backup, STP, 24 hours security, solar lighting for common areas, and rain water harvesting.

As part of the same project, Covai Properties of Coimbatore are partnering with Adinath to promote “Serene” - an exclusive retirement community for Senior Citizens. They have acquired 5 blocks for this.

http://www.thehindu.com/todays-paper/tp-features/tp-propertyplus/article3313019.ece

ASV Alexandriea| 4 x 17 fl|Sholinganallur

Master Plan

http://asvalexandriea.com/static/images/masterplan.jpg

Location

http://asvalexandriea.com/static/images/location-map.jpg

Renders

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Site Address: No 54 , Narasimhan Nagar, Potheri Village , Guduvanjeri GST Road, Chennai -603 202

http://sdil.co/?cat=8

Raj Paris - Crystal Spring
Residential Apartments @ Madambakkam, Chennai (http://www.99acres.com/customised/crystal-spring-madambakkam-chennai-residential-property/)

http://www.99acres.com/customised/crystal-spring-madambakkam-chennai-residential-property/gifs/crystal-spring-madambakkam-chennai-residential-property-slide-2.jpg

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http://www.99acres.com/customised/crystal-spring-madambakkam-chennai-residential-property/gifs/crystal-spring-madambakkam-chennai-residential-property-site-map.jpg

There is a big project which is coming near the silverline office near the padi junction. Who is promoting this project. The project is more than 15 floors.

Hallmark Infra In Talks To Raise $20M In PE For Residential Project (http://www.vccircle.com/500/news/hallmark-infra-in-talks-to-raise-20m-in-pe-for-residential-project)

Hallmark has just struck a deal to raise $10 mn each for two residential developments from Paracor Capital.

Chennai-based realty firm Hallmark Infrastructure is looking to raise $20 million in private equity funding for its 40 acre residential development of villas and row houses, according to a top company executive.

Anand Jain, managing director of the company told VCCircle, the firm is in talks with Paracor Capital Advisors for raising funds for the project which is located adjacent to Mahindra World City (MWC) in Chennai. Hallmark plans to raise the capital within the next few months.

At present, Hallmark has a developed asset bank of nearly 1 million sqft and it is adding another 4-5 million sqft.

Most of the company’s projects are at Maraimalai Nagar, which is located near MWC. Its upcoming projects include an IT SEZ, a warehouse, a shopping mall, a residential township, villas and service apartments.

If the proposed PE deal materialises, it would mark third successive private equity fundraising in quick succession for Hallmark which has just inked twin deals with real estate PE fund Paracor raise Rs 50 crore each for two separate residential projects in Chennai-- Golden County and Emerald. Emerald is a 0.8 million sqft development whereas Golden County is a 2 million sqft development which already has ready property under its belt.

Knight Frank India was the sole advisor for Hallmark Infrastructure in the twin deals.

Amit Goenka, national director-capital transactions at Knight Frank India, says, "The project is coming up on GST road and enjoys a captive audience of over 30,000 employees who are currently working in MWC and Maraimalai Nagar."

According to a source, “Paracor is looking at an internal rate of return (IRR) of 24-25 per cent from this investment and it has entered the project in the land aggregation stage and will hold 50 per cent stake in the projects. Paracor is looking to stay invested in this project for the next 3-4 years.”

An e-mail query sent to Paracor Capital Advisors spokesperson did not elicit any response.

For PCA this comes as yet another transaction in south India. It has recently struck a deal to invest $6 million through Madison India Real Estate Fund in residential project of Bangalore-based Shriram Land.

India-focused real estate investment fund Madison India Real Estate Fund is managed by Madison Advisors Limited and its Indian advisor is Paracor. Paracor also advises another Mauritius-based fund Paracor India Investments Limited, which focuses on private equity transactions. Paracor Investments typically invests growth capital of between $5-10 million and takes equity stakes of between 26 and 49 per cent. It focuses on investment opportunities in finance, logistics, food & beverage and consumer facing companies.

Although it could not be immediately ascertained the twin deal with Hallmark could also have been under Madison India Real Estate Fund.

The latest deal adds to a clutch of transactions have been announced in Chennai. ASK Property Investments invested around $10 million in a project by Real Value and Reliance Capital invested close to $7 million in another project of L&T and Arun Excello called Estancia.

Natwest, a city-based developer, is launching its new project Aura in Urapakkam. The gated community, spread across 3.15 acres of land, comprises 214 apartments and eight individual mid-rise towers. The project consists of one, two and three BHKs of sizes ranging from 607 sq ft to 1,703 sq ft. The group is also launching Mango County, a farm house plot project, spread across 80 acres, on Bangalore Highway.

Navin Housing is launching its 100th project, Eden Park on the Porur-Kundrathur main road on April 22, 2012, near the PSBB Milenium School. The bookings will be open at the site from April 21 to April 23. The building will have two-BHK and three-BHK apartments, along with amenities such as a club house, swimming pool and manicured lawns. Navin has also launched Block B of their Springfield project in Medavakkam.

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Guideline rates lag 10-45% behind booming realty market (http://timesofindia.indiatimes.com/city/chennai/Guideline-rates-lag-10-45-behind-booming-realty-market/articleshow/12830999.cms)

CHENNAI: If you need any proof of how buoyant the real estate scene in Chennai is, here it is. In the five months since the guideline values (government-notified rates for registration of properties) were revised across Tamil Nadu, the market rates have already overtaken them by 10-45%. The guideline value is used by the state government to assess the actual value of the property for levying stamp duty. Guidelines values were revised late last year after a gap of five years so that they would be indicative of prevailing market rates.

Growing demand for housing in the city has resulted in a steady climb in apartment prices both in the city and the suburbs over the last six months. "Hence, in most areas, the guideline value is below the market price and the difference ranges from 10% to 45%," real estate consultant S Ramaswamy of RECS Group said.

For instance, the guideline value of land on the Arch Bishop Mathias Road in Boat Club is 18,000 per sq ft whereas the prevailing market value for the street is around 33,000 per sq ft. Similarly, guideline value for RK Salai is 19,000 per sq ft whereas the market rates are close to 25,000 per sq ft. Guideline values are on the lower side even in central business districts. Guideline value on Khader Nawaz Khan Road, which is a premium shopping hub, is only 9,500 per sq ft. Guideline value on Haddows Road is also similarly low.

Experts say prices in most parts of the city have increased by close to 20% in the last six months, going by the residential price index (Residex) brought out by the National Housing Bank.

According to recent figures, Chennai is one of the fastest growing real estate markets among all metros, but this boom is not reflected in the new guideline values finalized five months ago. Guideline values were revised after a span of five years. In the meantime, prices within city had increased two to four-fold while the jump was about five to six times in the suburbs.

However, property consultants also point out that many buyers and sellers are keen on registering properties at market price. "Whenever a property is registered for a price higher than the guideline value, that becomes the new benchmark for the locality. Hence, over a period of time, the gap between guideline and market rates will reduce," said P Ramesh, a mediator.

While guideline values in the city are higher than market values, in the suburbs it is the reverse, and that is a matter of concern, say realtors. This disparity is partly owing to the slow growth of real estate prices in suburban areas. "Even if properties are available at lower rates, we have to pay a higher stamp duty and registration fees there as they are calculated based on guideline values, which are higher than market prices," Chitty Babu said. There is also a section of developers who feel that in some areas, the guideline value revision has been far too steep. "With such upward revisions, middle income people will find it difficult to buy properties in the city. Already, many of them are moving to suburban locations," PV Sanmugam, managing director, Kgeyes Residency said. But how far this argument will cut ice is a matter of debate.

Even when the guideline values were low, builders kept apartment prices high, said P Manikandan, who ended his five-year hunt for an apartment a month ago.

Green 201 Township Design (http://buildotechindia.com/township-design/)

Green 201, is an upcoming township at Chennai developed by Green Tree Homes and Ventures Pvt Ltd. The holistic planning and attention to detail approach ensure a design that addresses cultural, social, environmental and economic needs to create a well integrated community living.

The micro township is based on the concept of resort properties that feature design elements to relax the senses of the guests. The same aspects such as 70% landscaped open spaces, large windows and terrace gardens for every home have been integrated in this housing development. The residential units are in the sizes of 1040sqft to 1367sqft and have been specifically designed keeping in mind the needs of nuclear families. The interior design provides optimum space utility. The 6’x 6’ size French windows in all rooms offer maximum ventilation & light and no wall sharing between apartments offer better privacy. On the other hand, the site design and layout combine amenities and green surroundings in a way that residents can enjoy the natural environment. For example, more than 400 window gardens give the feel of a holiday home, while leaf shaped amphitheatre located at the centre of the five towers provides a relaxing atmosphere and space for leisure. The eco-friendly features of the project include solar and wind mill power generation for common lighting.

http://buildotechindia.com/wp-content/uploads/2012/03/OMRSiruseri-IT-Park.jpg

Project Brief:
Location: OMR, Siruseri IT Park, Pudupakkam, Chennai
Land Extent: 3.81 acres
Towers: 5
Apartments: 585

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I feel bubble is ready to burst!!

I feel bubble is ready to burst!!

My friend , if there are 50000 new apartments coming up , chennai has a population of more than 7 million and even if we assume that 5% of the population can afford to buy the apartments it translates into 3,50,000 apartments on demand .... This is a rough calculation of demand and supply in chennai and actuals may be more ....

Now you tell me What Bubble you are talking about ???

My friend , if there are 50000 new apartments coming up , chennai has a population of more than 7 million and even if we assume that 5% of the population can afford to buy the apartments it translates into 3,50,000 apartments on demand .... This is a rough calculation of demand and supply in chennai and actuals may be more ....

Now you tell me What Bubble you are talking about ???
is it? your arguement might hold good, if the prices are at a affordable price and if most of the houses are bought as 1st house.
here the proportion is most of the houses are bought as 2nd house or 3rd house..

is it? your arguement might hold good, if the prices are at a affordable price and if most of the houses are bought as 1st house.
here the proportion is most of the houses are bought as 2nd house or 3rd house..

Dear ,

This 5 % of the population alone was considered as affordable in those days before 20 yrs also and overall it has grown in numbers .....then can you explain why the prices of nungambakkam have crossed rs 16000 per sq ft when compared to barely rs 1000 per aq ft 15 or. 20 yrs before ??? No point in crying but unfortunately thus has been the truth and you r left with two choices ..... Just buy or wait and watch .... One of my friend is sitting on a cash of abt 50 lacs and ia waiting tp buy new apt in nungambskjam since 2006.... Can u explain why he could not buy so far ?? Will nungambakkam fall less than rs 10000. Per sq ft now ???

Although it is not affordable for people like me , our Real estate folks will find some or other buyers and keep moving their prices .....i have safely assumed only 5% as affordable range ..... No wonder the prices have doubled in city in the past 3 years.... We have to accept the fact

Srinivas Housing Project : 7 Floor Enrico Tower in Perumbakkam

http://www.sreenivashousing.com/future-projects.html

KGS Gardenia @ Karasangal

http://www.kgsdevelopers.com/gardenia_project.html

http://www.kgsdevelopers.com/gardenia_project.html

KGS Sunnyside @ Siruseri

http://www.kgsdevelopers.com/sunnyside_project.html

KGS Spring Field @ Thalambur

http://www.kgsdevelopers.com/springfield_project.html

http://www.kgsdevelopers.com/springfield_project.html

My friend , if there are 50000 new apartments coming up , chennai has a population of more than 7 million and even if we assume that 5% of the population can afford to buy the apartments it translates into 3,50,000 apartments on demand .... This is a rough calculation of demand and supply in chennai and actuals may be more ....

Now you tell me What Bubble you are talking about ???

The reason I think there is a bubble because income hasn't been growing as much as the prices , I can understand boat club prices but 10000 becoming entry barrier in most south chennai makes me to wonder if it's sustainable

is it? your arguement might hold good, if the prices are at a affordable price and if most of the houses are bought as 1st house.
here the proportion is most of the houses are bought as 2nd house or 3rd house..

One thing for sure the prices will not come down as the rate of sale now is good in chennai when compared to other metros.if the builders do come with affordable housing then the demand will more than double.Chennai is normally an end user market but if u say that mostly houses are bought as 2nd house or 3rd house then speculation fever is also catching up with chennai too like other major metros.But chennai is predominantly end user and a steady market only any ur thoughts or assumptions are far away from the mark.I can presume from ur comments that u r always wary of investments on account of suspicion or lack of confidence in yourselves.This trait is found from among most people of the delta regions of TN.

I can presume from ur comments that u r always wary of investments on account of suspicion or lack of confidence in yourselves.This trait is found from among most people of the delta regions of TN.
Ranga sir,
Lets not discuss about individual personalities and request you to sincerely took back your comments.
From my circles, my friends, i know most of them are looking to buy 2nd or 3rd property for investment purpose only and most of them are holding back.
As pointed out now most of the flats are nearly 30 to 40 lakh and % of salary people going for that is reduced.
no doubt that Chennai RE is holding up its share so far by the booking numbers. but occupancy numbers are very low in those flats.
lets see how long it will hold up on bookings too..
1 important factor on Chennai RE market is overseas people are booking a lot..

http://img802.imageshack.us/img802/9746/mapleprojectimage.jpg

http://www.kgsdevelopers.com/prim_rose_project.html

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Ranga sir,
Lets not discuss about individual personalities and request you to sincerely took back your comments.
From my circles, my friends, i know most of them are looking to buy 2nd or 3rd property for investment purpose only and most of them are holding back.
As pointed out now most of the flats are nearly 30 to 40 lakh and % of salary people going for that is reduced.
no doubt that Chennai RE is holding up its share so far by the booking numbers. but occupancy numbers are very low in those flats.
lets see how long it will hold up on bookings too..
1 important factor on Chennai RE market is overseas people are booking a lot..

Mr.Krishnaswamy sorry if it has offended u but fact remains that includes me too that investment opportunities are missed as i bore the same doubts on purchasing plots at throw away price just near about Velacherry in the mid eighties while others from other states working along with me in chennai just invested and reaped harvest in mid 2000.Flats around Rs30 lacs to Rs 40lacs in the immediate suburbs is the rate prevailing in all the major metros of south India and the sales do take place.Are the builders in Chennai foolish to announce more and more projects if the demand slackens.BTW what do u mean by booking numbers are holding up the share but occupancy numbers are low unable to comprehend.NRIs are buying in all the cities much more so in Bangaluru and Hyderabad and not just in chennai.U r young better shed this pessimism and regret in the late age as i do now.Residential property asset is as good as gold or land in the future.Never miss an investment opportunity.chennai is a growing city with good potential for investments in the realestate.

Real value Padmalaya|Siruseri|15 x 12 fl

http://realvalue.in/web/sites/all/themes/theme523/images/Padmalaya/padmalaya.jpg

http://realvalue.in/web/padmalaya

Kris,
30-40 lac apts in suburbs outside of core city area, I am talking about city area where the entry point is 1crore.
I think far flung new suburbs of chennai are priced correctly its consistent with other metros like bangalore/pune but core city areas priced really high because of either demand or not so good infrastructure in suburbs

I think siruseri/oragadam are priced right even today and will turn out be good in long run.

8000 in Velachery, 7000 in valsaravakkam are exorbitant in my opinion but I was always prooved wrong in the last 5 years so may be market is right..

Kris,
30-40 lac apts in suburbs outside of core city area, I am talking about city area where the entry point is 1crore.
I think far flung new suburbs of chennai are priced correctly its consistent with other metros like bangalore/pune but core city areas priced really high because of either demand or not so good infrastructure in suburbs

I think siruseri/oragadam are priced right even today and will turn out be good in long run.

8000 in Velachery, 7000 in valsaravakkam are exorbitant in my opinion but I was always prooved wrong in the last 5 years so may be market is right..

Yes dear , I also wished the same for the last 3 years but never happened ..... Also, with the govt increasing guideline values in core city in many places , the entry point is still crossed one crore mark and in many places it is running into 3 or 4 crores such as alwarpet , mahalingapuram, Mandaveli, Boatclub, poes etc...one side govt has increased values and another side RBI has reduced homeloans interest rates ... by the end of 2012 we can safely assume an increase of atleast 10% from todays prices ....

The prices will definitely come down(not sure when,may be after 2020), when the NRI's do not want settle down back in India(they own now almost half of chennai),and also because of their own culture change, they cannot trust anyone in India to look after. so they want to sell it,as the number of sellers exceed the buyers,naturally prices will come down.

untill this happens, I don't see the prices coming down, may be it can stagnate, definitely will not go down.

Mangal Tirth Esates launches Maplewood Premier (http://www.mydigitalfc.com/real-estate/mangal-tirth-esates-launches-maplewood-premier-350)

The high-end limited unit residential apartment project is located at Kottivakkam on OMR, Chennai’s IT corridor

http://www.mydigitalfc.com/sites/all/files/imagecache/article/sites/all/files/article/mangal.jpg

Mangal Tirth Esates, which developed Chennai’s first shopping mall Spencer’s Plaza, and which subsequently br*anched out to develop residential space, has now launched a high-end limited unit residential apartment project at Kottivakkam on OMR, Chennai’s IT corridor.

The project, Maplewood Premier, has come up a little over five grounds (each ground = 2,400 sq ft) and will offer just six residential apartments of about 3,300 sq ft each. All ap*artments have four bedrooms with living/dining rooms, dry and wet kitchen with attached bathrooms. Each apartment has four reserved covered car parks along with room and bathroom to house domestic staff on the stilt level.

“Even though the project is lo*cated on OMR, it is coming up at a location that is within a five-minute driving distance from Tidel Park, American International School and the Kri*shnan Tennis Academy. The project is located close to the shopping hubs of Adyar and Thi*ruvanmiyur,” says Vijay Sada*ra*ng*ani, director, Mangal Tirth Estates.

While the ground floor will have an air-conditioned visitors’ lounge and a reception, facilities like a swimming pool, fully fitted gym, laundry area and a party deck will be available at the terrace level.

Other facilities of this stilt plus two-level project include an aut*omatic eight passenger elevator, air-conditioned children play pen, CC*TV security network and 100 per cent power back up. In ad*di*tion, all apartments will have LAN network, in house audio and video cabling, besides a biometric reader for res*idents’ entry that ensures a secured home.

The apartments have been des*igned by Singapore’s leading arch*itects Ong & Ong keeping in mind all the important aspects like ample natural light, air and privacy for every area within the apartment. The apartments are priced at Rs 9,750 per sq ft.