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Old May 6th, 2019, 09:41 AM   #2941
rskarthik2k3
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^ Have they re-started the building activity in this project? For long duration, there was no activity at all....

Also, there is no activity in the Akshaya project that has come to stand still next to BSR mall at Jain college junction in Thoraipakkam...but they are now marketing for their project at Thiruporur..

When these real estate companies cannot complete earlier projects, why do they kick start projects in other locations only for those projects also to get stuck at later stages....at end of the day, common man suffer....

Not sure if these are taken into considerations in the RERA Act that can help the buyers of inordintate delays particularly in the bigger projects...
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Old May 7th, 2019, 02:19 AM   #2942
karkal
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Tech scene to boom in Porur

Quote:
With the plan for four new IT parks in this suburb, the sector is expected to generate 53,000 jobs by 2023

Around 14,000 employees are expected to occupy office space in Porur by 2019-2020.
Quote:
CHENNAI: Porur is emerging as an IT hub in Chennai. A space of 5.3 million square feet is on the cards. Developers are rushing to buy properties in and around the region. Apart from DLF, three new IT parks are likely to come up in the next three to four years. These include RMZ IT park coming up in 1.7 million square feet by 2021, ASV IT park likely to be ready by 2023 and Raheja IT park on 1.1 million square feet by 2020.

As per a study by TVS Emerald, the proposed IT parks are expected to generate 53,000 jobs creating a huge demand for housing. V Ganesh, executive vice-president Emerald Haven realty Limited says that TVS is investing around Rs 380 crore to Rs 400 crore (including land cost) in two land parcels to tap this growing market which he feels is now priced at Rs 4,899 per square feet.

A Shankar, Chief Operating Officer, Strategic Consulting, Jones Lang LaSalle (JLL) says that Porur is definitely an emerging IT hub especially along the Mount Poonamalle Road as this corridor is already dotted with established IT parks such as DLF CyberCity, Jayanth Tech Park, L&T Infotech, etc. “Due to a huge demand and limited supply across Chennai, there has been a lot of interest in this particular corridor for IT Park developments due to its proximity to the airport, city centre and prominent residential catchments. Approximately six million square feet of new IT commercial space is under construction along this corridor,” he says.

The study predicts that demand for homes in Porur will be around 60 per cent. It also predicts that there will be a demand for 6,000 houses by 2019-2020 in the region.Shankar says that commercial growth will transform the region with a huge increase in residential demand and retail outlets. “We are witnessing hotels and restaurants coming up in this micro market which will make this area the best-suited destination for all asset classes,” he says.

Other than Pallavram-Thoraipakam growth, the next level of activity is Mount Poonamallee Road. The construction of flyover in Porur has given a positive outlook and further improvement in road infrastructure will lead to better prospects.

According to Shankar, the average selling price of residential apartments in the region on the Mount Poonamalle Road near IT developments is in the range between Rs 7,500–8,500 square feet, whereas in the other parts of the region, off the main road, is between Rs 4,500-Rs 5,500 square feet. “Owing to the demand it is anticipated that the price appreciation of residential property would be highest among other micro markets of Chennai,” he says.

Key developments

Porur and its areas witnessed huge development and a lot of key developers have been constructing residential projects which include VGN and Appasamy developers, says a senior official from CBRE, a real estate consulting firm. The shortage of land parcels in Guindy has boosted the Porur market.
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Old May 7th, 2019, 12:14 PM   #2943
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Porur is the next big thing in Chennai.
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Old May 7th, 2019, 02:50 PM   #2944
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Quote:
Originally Posted by rskarthik2k3 View Post
^ Have they re-started the building activity in this project? For long duration, there was no activity at all....

Also, there is no activity in the Akshaya project that has come to stand still next to BSR mall at Jain college junction in Thoraipakkam...but they are now marketing for their project at Thiruporur..

When these real estate companies cannot complete earlier projects, why do they kick start projects in other locations only for those projects also to get stuck at later stages....at end of the day, common man suffer....

Not sure if these are taken into considerations in the RERA Act that can help the buyers of inordintate delays particularly in the bigger projects...
RERA has reined such builders. Announcing too many projects without completing none and facing liquidity problems and wrath of the investors whose patience is tested.Chittibabu has learnt his lesson

Last edited by nickelby; May 9th, 2019 at 02:54 PM.
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Old May 9th, 2019, 01:21 PM   #2945
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All eyes on the South

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Singapore’s top PE investors largely eye Bengaluru, Hyderabad and Chennai, says Shobhit Agarwal
Quote:
Singapore investors are betting big on Indian commercial real estate and other new sunshine sectors, including logistics and warehousing. Major Singapore-based private equity firms are funnelling billions of dollars into the country's real estate sector, particularly in South Indian cities.

- Part of the whole article -

In Chennai

The city saw total PE inflow of $1.7 billion in the last four years, out of which Singapore investors alone pumped in approx. $930 million. Interestingly, Japanese conglomerate Mitsubishi Corp also invested nearly $25 million in a residential project by Shriram Properties — Shriram Park 23 in Southern Chennai — in 2018. This equity investment marked Mitsubishi’s entry into the Indian real estate sector.
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Old May 9th, 2019, 06:10 PM   #2946
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Prestige is coming up with a mega residential complex in Radial Road in an area of 22 acres. This seems to be diagonally opposite to Embassy Splendid Tech zone.



Blocks



More details :

http://environmentclearance.nic.in/w...O9UK9Y7ToR.pdf
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Old May 10th, 2019, 01:01 AM   #2947
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Quote:
Originally Posted by MyNation View Post
Prestige is coming up with a mega residential complex in Radial Road in an area of 22 acres. This seems to be diagonally opposite to Embassy Splendid Tech zone.



Blocks



More details :

http://environmentclearance.nic.in/w...O9UK9Y7ToR.pdf


Isn’t this site on the lake catchment area???
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Old May 10th, 2019, 03:03 AM   #2948
KRISHNAKUMAR N
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Quote:
Originally Posted by MyNation View Post
Prestige is coming up with a mega residential complex in Radial Road in an area of 22 acres. This seems to be diagonally opposite to Embassy Splendid Tech zone.



Blocks



More details :

http://environmentclearance.nic.in/w...O9UK9Y7ToR.pdf
I think this place should have an office instead. It will create an ecosystem for organized development.
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Old May 10th, 2019, 07:05 AM   #2949
rskarthik2k3
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Quote:
Originally Posted by H Factor View Post
Isn’t this site on the lake catchment area???
Entire stretch on either side of radial road is catchment area for 4 big lakes which finally dumps the excess water into the marsh....this entire eco system is beyond repair now...
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Old May 15th, 2019, 08:18 PM   #2950
gnams
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Quote:
Originally Posted by MyNation View Post
Prestige is coming up with a mega residential complex in Radial Road in an area of 22 acres. This seems to be diagonally opposite to Embassy Splendid Tech zone.



Blocks



More details :

http://environmentclearance.nic.in/w...O9UK9Y7ToR.pdf

If i remember correctly, somewhere i read like Prestige owns a landbank of around 40+ acres.
It it true? If so, they are coming up with residential only in 22 acres and the rest will be developed for commercial ?
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Old May 16th, 2019, 03:31 PM   #2951
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Ramesh Residence in Chennai by Murali Architects

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