Residential Projects/News in State Capital Region (SCR)

[vinodgopal]

Originally Posted by satchitananda

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

$ pola "varumai"

[wlbkng]

Originally Posted by satchitananda

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

Originally Posted by vinodgopal

$ pola "varumai"

Good one satchi & vinod..

May be "$ pona varumai"

[vinodgopal]

Originally Posted by wlbkng

Good one satchi & vinod..

May be "$ pona varumai"

varumai yin niram $

[kannan infratech]

Originally Posted by Indian Sun

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.

[vinodgopal]

Originally Posted by kannan infratech

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!!

[Indian Sun]

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

[murlee]

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/ind...roject/458291/

[lexraja]

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 .

[dkravind]

Originally Posted by lexraja

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 .

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 )

[win-win]

Originally Posted by lexraja

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 .

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

[murlee]

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/Defau...&ViewMode=HTML

[saysenthil]

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/DisplayA...=business&col=

[murlee]

There is hope for 2012

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/...cle2763888.ece

[kvijayasundaram]

Happy new year folks.

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



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

[murlee]

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-...23-60-120.html

[murlee]

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



SRC: http://static.panoramio.com/photos/o...l/48602077.jpg

[ORAGADAM]

Raga - Oragadam by Mohan Mutha

[murlee]

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/...cle2783734.ece

[murlee]

Prestige Bella Vista|Porur|33 x 17 Fl

http://www.prestigeconstructions.com.../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

[murlee]

Prestige Bella Vista - contd..

Master Plan



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