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Vol : 1 Issue : 3 

August 2011

Chennai Real Estate

Invest or Not Developer of the Month Chandrakant Kankaria

Project of the Month The Village

Focus Chennai's Top 100 Projects


Luxury Living Gets a New Identity! Premium luxury lifestyle in the heart of Chennai

Kothari Road, Nungambakkam

Salient Features: 1.20 Acres

21 Villa Apartments

4 BHK

5410 - 5460 sqft

Five Star Clubhouse & more...

Contact

97898 51111 Vijay Shanthi Builders Limited : 20/43 Kasthuri Ranga Road, Near Russian Cultural Centre, Alwarpet, Chennai-600018


Editor’s Note

Editor & Publisher Kishore Kumar editor@chennairealty.biz Editorial Consultant InkWell Publishing Production Manager Prasanna Venkatesh Design Head Nandha Gopala Krishnan

Dear Patron, Chennai was in the thick of things at the political, economical and consequently at the real estate level. With the bureaucracy completely being churned over, decision making took a back seat and red-tapism had set in, making it difficult for the real estate industry to move forward. Though there seem to be some light at the end of the tunnel towards the later part of the month, it remains to be seen how the new government will take to growing the real estate industry in Tamil Nadu. The month also saw Chennai’s penchant for luxury homes at Luxury Homes 2011. The success of the event is another testament to Chennai’s increasing reputation as a stable real estate investment destination. In this edition, we take an in-depth look at property investment in Chennai at a time when it’s not clear how the market would go from here. On the face of it, everything looks to be fine, customer off-take of homes remains healthy, new projects are getting launched and prices seem to be holding up. Whether the trend would continue and the growth sustainable remains to be seen in the next coming months. This edition comes loaded with very useful information on topics like property registration, making your home environment friendly, saving energy, Feng Shui and more. The article on making homes safe for elderly people should make an interesting reading. Also featured is updated Top 100 Projects which should continue to serve useful in the hands of a potential home buyer. The Village developed by Phonenix-Hodu Developers on OMR is being showcased as ‘Project of the Month’. I was personally very impressed with the development at site and feel that this could well become another iconic residential development on OMR, the first being Hiranandani Upscale. Chennai Realty was the partner magazine for ‘Luxury Homes 2011’ expo at Chennai and came up with Chennai’s first real estate show directory in association with Eyeball Media, the organizers. The show directory was distributed to all 2800 registered visitors. Once again, we are happy to report that our weekly e-newsletter PropWatch has crossed a readership of over 17,346 numbers and growing. I personally apologize for the inadvertent errors on some pages of our previous edition and promise that such mistakes will not happen again. We sincerely regret for the inconvenience caused. Happy reading!

Kishore Kumar Editor - Chennai Realty.biz

Marketing Manager Leslie Anburaj +91 8754487370 marketing@chennairealty.biz Sales Manager Geo Bruce +91 8754489127 sales@chennairealty.biz Subscription Keerthana +91 8754489129 subscription@chennairealty.biz Photography Stalin Ramesh Website Developer Vinzing Designs www.chennairealty.biz Circulation Head Radha Krishnan

TNENG/2011/0086

Marketing and Registered Office No. 53-A, Church Street, Thangam Colony, Anna Nagar, Chennai - 600 040, India Contact: 044-26160216 Printed by NPT Offset Pvt Ltd Chennai Realty.biz is solely owned, published and designed by Dimension Four Infomedia LLP. Whilst every effort was made to ensure the information in this magazine was correct at the time of going to the press, the publishers cannot accept legal responsibility for any errors or omission, nor can they accept responsibility of the standing of the advertisers or editorial contributions. The views expressed do not necessarily reflect those of the publisher.


Contents 10

10 WHAT'S HOT: Is this a good time to invest in real estate in Chennai? Find out… FEATURES 26 Comfort Zone: Ace Photographer Sunder Ramu opens out his favourite space 28 Feng Shui: Demystifying the art & science of Feng Shui 30 Trend Turner: More on making your home go green 32 Show Space: Deco Aro gives you a taste true home décor 36 Health Quote: Is your home designed for the elderly? Find out… 38 Tech Talk: Here’s how you could reduce your electricity bill

INDUSTRY FOCUS 16 Project of the Month: The Village 20 Developer of the Month: Chandrakant Kankaria 24 Watch Out: Style trends you could make use of 34 Smart Money: How to calculate your rental yield? 35 Smart Money: Learn how your house could pay for your pension? 40 Policy Police: Everything you need to know about property registration 42 Get Help: Investing in Plots. Check this out!

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NEWS YOU CAN USE 06 Realty Bytes: Interesting updates on the realty scene 46 Chennai's Top 100 Projects: A one-stop ready reckoner for the potential homebuyer 58 Cityscape: Chennai’s residential and commercial price trends 61 Handy Guide: Looking for a handy man? Here are some tips!

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62 City Musing: Pergolas – catching the style trends Chennai Realty August 2011 5


Realty Bytes Hotel chains check into pilgrim sites in South

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ith healthy growth in domestic tourism to popular pilgrimage sites like Madurai, Thanjavur, Tiruchi, Rameswaram and Tirupati, several midsegment hospitality chains are planning to set up hotels in these regions. As per industry estimates, a 50 to 60-room hotel in areas like Tiruchi (Srirangam temple), Madurai (Meenakshi temple) and Rameswaram (frequented by devotees to perform last rites) with investment per key in the range of ` 30 lakh - ` 50 lakh is a good starting point for a venture. Companies like Fortune Park Hotels, an ITC owned hotel chain, is looking at properties in Rameswaram and Tiruchi. “Setting up and managing properties in tier II and tier III locations is an attractive proposition not only from the cost of fund perspective but also from the recovery perspective,” says Suresh Kumar, of Fortune Park Hotels. Sarovar Hotels & Resorts, another hotel management company, has inked a joint venture with Marasa Hospitality (part of the Africa-based Madhavani Group) for opening hotels in Tirupati, apart from other religious destinations. “Unlike in resorts where there is a high element of seasonality, hotels in pilgrim towns clock good occupancies throughout the year,” says Anil Madhok, managing director, Sarovar Hotels & Resorts.

Educational institutes want Special Education Zones

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ith manufacturing industry increasingly giving up on Special Economic Zones, or SEZs on the grounds that they have become unviable, there is another sector of the economy that would like SEZs. In their case, though, SEZs would stand for Special Education Zones. “Creating a Special Education Zone will allow educational institutes to set up in a large area and then optimise common services such as auditoria, canteens, hostels or student accommodation, sports facilities,” said Sanjay Chordia, chairman, Suryadatta Group, which runs a clutch of educational institutes. Concurred Vidya Yeravadekar, prinicpal director, Symbiosis Society which runs educational institutes, saying, “According to government rules, every educational institute needs to reserve 40% of its plot for sports facilities. If we had an Educational Zone, we could all of us collectively set aside the space as part of the common facilities,” adding, “I believe education is an industry and we plough our profits back into the business.”

Chennai to host world’s largest tyre manufacturing facility

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rench tyre major Michelin's upcoming manufacturing facility north of Chennai, with a total capacity of 4.5 lakh tonnes radial tyres is likely to be the group's single largest manufacturing facility in the world. The first plant is currently under construction and will begin production in November 2012, rolling out about three lakh radial tonnes of truck tyres in the first year.

and will hire about 1,500 people," he added. The first set of 356 employees is already undergoing training at a centre on the site as well as in centres across the world.

According to Nicolas Beaumont, President and Managing Director "The maximum tonnage on site is 4,50,000 tonnes and it will eventually be the biggest in the group. Close to 90% of the production will be for domestic use". The first factory, which will produce bus and truck radial tyres, is being set up at Thervoy Kandigai SIPCOT Industrial Park on 290 acres of leased land in Tiruvallur district. "We are investing ` 4,000 crore over seven years

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Chennai Realty August 2011

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Realty Bytes Chennai turns out hottest real estate destination

Attrition highest in Bangalore, Hyderabad & Chennai

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ompanies located in the southern cities of Bangalore, Hyderabad and Chennai are finding it difficult to hold on to their young employees as attrition levels in these cities stood at 15 percent the highest in the country during the last twelve months. The survey also showed that "better salary" was one of the major reasons for high attrition levels. Majority of the respondents in all of the surveyed cities expressed this view. The survey shows that in the last 12 months, attrition has been the highest in Infrastructure companies, IT & ITES firms. Among the cities surveyed, both Ahmedabad (9.02%) and Mumbai (9.83%) had the lowest attrition rates in the last one year. Even during the last three months (April-June 2011), the attrition levels in both Mumbai and Ahmedabad were just over 7%, while both Chennai and Hyderabad had attrition rates over 10%.

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f one were to go by the recently released National Housing Bank’s Residex, a property price index across 15 cities in India, Chennai has seen the maximum gain of over 130 percent in property price appreciation from 2009. The increase, though, may be true only of the Central Business District areas of Chennai as the index does not cover the peripheral areas of the city. The main reason for rapid increasing of prices in Chennai are twofold, first is the lack of supply of land within city and second is the long delay in getting building plan approved with the government authorities. Even during the downturn in 2009-10, the property prices in Chennai went down only marginally by less than 10 per cent as compared to 25 – 40% correction in cities like Mumbai, Bangalore and Hyderabad. Residential property price indices in Lucknow, Kolkata, Mumbai, Pune and Ahmedabad did not do too badly either. They managed increases of 50-85 percent from their lows in 2008. The big jump in prices explains why many large developers have been moving to these Tier-2 and -3 markets. It is noteworthy that the even after this rise, the average property price in cities such as Ahmedabad, Chennai or Kolkata is significantly lower than in Mumbai or New Delhi. However, whether this kind of rally would continue remains in question, especially given the elevated interest rate scenario. Ms Kalpana Murthy, Associate Director, Residential Services, South, Cushman & Wakefield, feels that most of the locations are already experiencing stable capital values now as markets driven by endusers are typically price sensitive and steep escalation can affect demand.

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Action picks up on the IT space front in Chennai

he IT space leasing in Chennai which was in doldrums a year back, is witnessing some action finally with big IT names like Cognizant and HP signing up for space to the tune of 1 million sq.ft in the city recently. While Cognizant is closing in on 6.5 lakh sqft in the upcoming Ramanujan City in Taramani, which is promoted by Tata Realty, while transnational giant Hewlet Packard is close to signing up 3 lakh sqft in the same SEZ. Cognizant has a global headcount of more than 1.1 lakh, of which nearly a third are employed across its facilities in Chennai. In February, the company announced plans to expand its construction programme in Chennai, Pune, Coimbatore and Kolkata. It said it would invest more than $500 million by the end of 2014 to expand software development and training facilities. The Ramanujan deal is expected to help seat 6,500 Cognizant employees over the next few years. Other big ticket deals in recent months include global e-shopping giant Amazon’s expansion by 80,000 sqft in Shapoorji Pallonji’s tech park in Taramani and Renault Nissan’s design division expansion in Mahindra City by 75,000 sqft. Rentals in the technology space are showing signs of recovery. “In the Taramani belt, last year deals were struck at ` 38-42 per sqft for warm shell (which includes air-conditioning and power back-up), but the going rates now are ` 42-45 a square feet. Overall, things BIG BIZ DEALS are looking up,” a real DD Cognizant is closing in on 6.5 lakh estate consultant said. sqft in the upcoming Ramanujan Tata Realty is developing City Ramanujan City, earlier known as MGR Film City, DD Hewlet Packard is close to signing in partnership with Indian up 3 lakh sqft in the same SEZ Hotels (another Tata group DD Amazon’s 80,000 sqft expansion at company) and Tamil Nadu Shapoorji Pallonji’s tech park Industrial Development DD Renault Nissan’s design division Corporation, the state expansion in Mahindra City by government’s investment 75,000 sqft arm.

Chennai Realty August 2011 7


Realty Bytes Real estate infrastructure and amenities charges to stay

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he Madras High Court has upheld the constitutional validity of levy of infrastructure and amenities charges in the state by Govt. of Tamil Nadu by way of amendment of Sections 63B and 63C of the TN Town & Country Planning Act, 1971, (TCP Act) and the statutory rules known as TN Town & Country Planning (Levy of Infrastructure & Amenities Charges) Rules, 2008.

The initial levy was introduced in June 2007 for special and multi-storeyed buildings for ensuring sustainable development leading to the formation of well-planned urban areas and growth centres with additional source of water supply, facilities such as broad road connectivity and provision of infrastructure for long-term basis. The Government fixed ` 500 a square metre for commercial and IT buildings, ` 1,000 a square metre for multistoreyed buildings, ` 200 a square metre from institutions and ` 300 a square metre for industrial use.

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have to pay ` 150 and ` 300 as minimum and maximum. Pending final decision from the courts, the Government had directed applicants to pay an initial amount at the rate of ` 100 a square metre as infrastructure and amenities charges.

square metre as minimum rate and maximum rate per square metre at ` 1,000. Commercial building, information technology building, group development and special building will have ` 250 and ` 500 as the minimum and maximum rate per square metre for institutional building, the minimum and maximum rate per square metre will be ` 100 and ` 200. Industrial buildings will

French auto major may drive into Chennai for its ` 4000 Cr Project

hough there’s been some confusion as to whether the French automobile major Peugeot Citroen’s (PSA) final decision on locating their ` 4000 crore integrated manufacturing facility in India, it looks like Chennai could well walk away with the project. The factors which may favour Chennai bagging this prestigious projects includes a mature automotive manufacturing ecosystem with a good supply chain system and availability of skilled manpower with good logistical support. PSA, which had evaluated several sites in many states, has finally zeroed in on a site near Sriperumbudur, which has already emerged as a manufacturing hub for the automobile, electronic and telecom sectors. Already several global automobile majors

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Following representations from builders, developers and promoters requesting reduction in the rates of the infrastructure and amenities charges the Government in February 2008, announced that reduction of infrastructure charges at ` 500 a

Chennai Realty August 2011

including Hyundai, Mitsubishi, RenaultNissan and Daimler have established their car plants in Tamil Nadu. In addition, the state attracted wider investments through the setting up of numerous auto component units from countries like the US, Korea, Japan as well as Europe to supply parts to these car plants.

PSA, through its wholly-owned Indian subsidiary, will invest around ` 4,000 crore in an integrated automobile manufacturing facility in Sriperumbudur near Chennai. The plant, which will have an initial capacity of 3,00,000 cars per annum, will cater to the needs of the domestic as well as overseas markets. A high-level delegation from PSA, headed by Gregoire Olivier, CEO of Asian operations of PSA Peugeot Citroen China, met Tamil Nadu Chief Minister J Jayalalithaa to seek the state government’s support for the project. Headquartered in Paris, PSA is the second largest automobile manufacturer in Europe and sells its products under the brands Peugeot and Citroen. Ranked as the sixth largest automobile company in the world, PSA registered sales of $67.3 billion in 2010.

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New Launches KEH Narinyas Location : Type of Units : No. of Units : Area : Price Range : Completion Date : Amenities : Builder : Contact :

Pallavaram 1, 2, & 3 BHK 192 496-1203 sqft ` 18-55 lakhs June 2013 CPA, STP, SP, MPH & CH KE Housing Pvt Ltd +91 91769 87705

Location : Type of Units : No. of Units : Area : Price Range : Completion Date : Amenities : Builder : Contact :

Urapakkam 2, 2.5 & 3 BHK 200 801-1000 sqft ` 24-30 lakhs December 2012 CPA,STP,SP, MPH,GYM & CH Sidharth Foundations & Housing Ltd +91 87544 81852

Location : Type of Units : No. of Units : Area : Price Range : Completion Date : Amenities : Builder : Contact :

Perumbakkam 2 & 3 BHK 50 836-1289 sqft ` 28-43 lakhs August 2012 CPA, STP, MPH, GYM & CH Jey Yes Homes Pvt Ltd 044-4266 4763

Sidharth Dakshin

CELESTYN

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Chennai Realty August 2011 9


To Invest, or Not Property has always been an essential part of any serious investors' investment portfolio. Indeed, information provided by the Forbes Magazine shows that over 50 percent of the rich-list made their money in property. In this third edition of Chennai Realty, we probe into the details of investing in property in and around the city, as it stands today‌


What's Hot

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he primary reason for investing in property is that it enables leveraging or gearing for the investor. Leveraging simply means using someone else’s money (typically that of banks or other lending organisations) to allow an investor to make a purchase using less of his / her own money. Investors can borrow up to 85 percent of the property’s value and get a tenant who partially covers the mortgage. This is typically the margin that an investor looks at, less upfront and higher margin of financing. However, the recent 80 percent margin cap for mortgages with respect to residential properties makes it somewhat more difficult and investors would have to reconsider their intended purchases as more upfront monies is required. Having said that, while property has always been a major investment sector – particularly for the large-scale institutional investors such as banks and insurance companies - for the small investor (apart from owning your own home), property has for long been overshadowed by the various investment opportunities offered by FDs, PPFs, gold, shares, mutual funds and more. With this in mind, let us take a moment to remind ourselves of some factors favouring investment in property.

Markets are Cyclical - prices go up as well as down Investment markets of all kinds are cyclical in nature (they rise and fall over time) including property prices. But as compared to other high risk, high return products like shares, mutual funds and commodities, real estate prices are less volatile given the fact there is a huge demand supply gap in India for housing. Real estate should continue to grow by leaps and bounds in years to come.

Inflation and interest rates It's difficult to find decent returns from traditional investments like fixed deposits or post office deposits which keep pace with the increasing inflation and interest rates. Real estate can ideally be used as an effective investment option both in the short term as well as long term. One such short term option can be from booking of apartments at a very early stage in a large project and sell it at a later stage when it’s nearing completion. Currently HNIs are making good use of these options with some large developers in Chennai. For a safe investor, even buying an apartment and then renting it out works as a decent

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proposition, given the combined returns from rentals and value appreciation will provide a good return on investment option.

Volatility in the stock markets The same applies for commodity markets as well. The recent huge decline in silver futures wiped out nearly ` 6,000 crore of investor value. Even during the recession, the property prices in Chennai had gone down only by 10-15 percent within city limits and by 20-25 percent in the outskirts, which has since then rebounded smartly.

House price inflation We have seen some dramatic rises in property prices over recent times. If one were to go by the recently released National Housing Bank’s Residex, a property price index across 15 cities in India, Chennai has seen the maximum gain of over 130 percent in property price appreciation from 2009. The main reason for rapid increasing of prices in Chennai are twofold, first is the lack of supply of land within city and second is the long delay in getting building plan approved with the government authorities. Even during the downturn in 2009-10, the property prices in Chennai went down only marginally by less than 10 percent as compared to 25 – 40 percent correction in cities like Mumbai, Bengaluru and Hyderabad.

Increasing job mobility More single households and rising property prices have been a boost to the demand for rented accommodation. With Chennai emerging as a hot investment destination for automotive and electronics companies, the suburbs of Sriperumbudur, Oragadam and Tiruvallur will continue to attract a huge workforce, which would boost the demand for rental properties in those locations. With OMR continuing to attract good number of IT companies, domestic and international, an expected 60,000 employees are likely to be added in the next 12-14 months. This is expected to increase the demand for 1-BHK and serviced apartments along OMR and Tambaram-Velacherry stretch.

Increasing affluence There are now many more people with second homes and funds available for investment. The average age of a person buying a new home has come down from 52 in 1990 to 34 in 2011. This being the

case, around the age of 40, the penchant for buying a larger home or second home has set in. With availability of home loans, buyers are able to afford these second homes. Many small and medium-size private investors and landlords will stick with property investments through thick and thin, through good times and bad, and will reap the long-term benefits. People have always appreciated the benefits of owning property (bricks and mortar) over the longterm, particularly with regard to capital appreciation. But the boom years of the recent past have shown the real potential of property as an investment, though clearly and more recently, we are beginning to see that there are risks as well.

Investment Returns Different types of investment can be compared both in terms of their overall risk, and their potential rewards (yield). Investments give you two kinds of reward: interest (income) and capital growth (increase in value). The safest forms of investment may only give one of these. For example, a bank investment will give you a guaranteed interest of about 9 percent with absolutely minimal risk - you are guaranteed to get your capital back, but the capital will not appreciate in value. At the other extreme, a high performance share in a smaller company may give a low income (dividend payouts minimal or zero) but a high capital appreciation (growth in share price). This is obviously a more risky investment because you could lose some or all of your capital, although you could also make a lot if the share price multiplies, say by 10 folds, in 12 months. These two examples are at two extremes of the risk/reward spectrum– Low Risk

High Risk

For investors who have owned a property for a considerable period of time, it is often possible for them to refinance the property and take out the initial funds invested while at the same time having the advantage of the property and its continuing increases in value. Considered as one of the major advantages of investing in property, this allows investors to take out a bigger mortgage once the property’s value has gone up. The increased rents to be had a number of years after the initial purchase will continue to partly cover the increased mortgage.

Chennai Realty August 2011 11


When a slump in values occur, it presents a ‘knock on’ effect on rents as they usually go up, and rental yields increase even more to reflect property values that have gone lower. The idea behind smart property investment is to wisely leverage on funding that can be raised as debt at a lower rate to fund a property investment. While not everyone will be happy with taking a debt in order to fund property purchases, it is however, seen as beneficial to take do so in order to acquire assets that will appreciate in value and could make substantial profits over time.

To rent or to buy a home, that is the big question Now, it is not rare to find people who have the notion that today renting a house is better than buying one. Buying a house is one of

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Chennai Realty August 2011

the biggest financial decisions one takes in an entire lifetime and the dilemma of ‘rent versus buy’ continues to perplex many people across salary brackets. The decision should be holistic: The decision about where one has to live is dependent on various factors including lifestyle, personal preferences, proximity to family and friends to list the few. Along with this, one also needs to ascertain the investments required and the funds available to make such a decision.

development, these could be among the best areas to live.

Understand the location dynamics: How locations/areas are likely to develop is also an important consideration one has to make. In urban areas, with limited space, a large part of the development is taking place beyond the established regions of various cities. While today, these areas might seem to be far, a decade down the line, with

While making a decision about ‘rent versus buy’, involve your financial planner in the process. Irrespective of whether you plan to buy the house in your current city or in your hometown or plan to live on rent – your financial planner can help you adequately weigh the pros and cons in each scenario. Either decision needs to be integrated into

Try to envision the kind of development possible in an area before you decide to invest your money. If you rent a house, it is relatively easy to shift from an existing location to another if you are not satisfied by the way things turn up near your house. However, as an owner, it might take time to find the right buyer to sell your property before you can shift.

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What's Hot Capital Value 2 BHK (`/sqft) Location

Capital Value 1 Ground of 2,400 sqft (` in lakh)

Budget

Premium

Average

SHOLINGANALLUR

3,500

4,000

65 - 75

IT, ITES, IT Expressway

Ground water, Pollution, Unorganised growth

THURAIPAKKAM

3,500

4,500

70 - 90

IT, ITES, IT Expressway

Ground water, Pollution, Unorganized growth

AVADI

2,850

3,500

65 - 70

Rail connectivity, spillover from Ambattur and Padi

Pollution and poor public infrastructure availability

KOLATHUR

4,000

4,500

70 - 80

Road connectivity with Anna Nagar, good ground water

Pollution and poor public infrastructure availability

MADHAVARAM

3,800

4,200

65 - 70

Highway connectivity, increasing industrialisation in North Chennai

Pollution and poor public infrastructure availability

NOLAMBUR

3,500

4,000

65 - 70

Proposed elevated corridor, spillover from Mogappair

Pollution and poor ground water

POONAMALLEE

2,800

3,600

60 - 70

Proposed outer ring road, close to Sriperumbudur

Poor social infrastructure

MEDAVAKKAM

3,500

4,500

60 - 70

Road connectivity from GST

Poor social infrastructure

MADIPAKKAM

3,500

4,300

60 - 70

Good ground water

Water logging, poor connectivity

3.7

4,200

55 - 60

Proposed flyover, close to Sriperumbudur and Oragadam

Pollution, poor social infrastructure

TIRUVALLUR

2,100

2,700

12 to 18

Outer Ring Road, NH and rail connectivity

Poor social infrastructure

SIRUSERI

3,000

4,000

45 to 50

IT, ITES, IT Expressway

Distance from city centre, poor social infrastructure

PADUR

2,700

3,200

35 to 40

IT, ITES, IT Expressway

Distance from city centre, poor social infrastructure

KELAMBAKKAM

2,500

3,000

30 to 35

IT, ITES, IT Expressway

Distance from city centre, poor social infrastructure

SRIPERUMBUDUR

2,200

2,500

12 to 18

Electronics and Automotive Mfg Hub

Poor social infrastructure

VANDALUR

2,500

3,600

20 to 25

Along rail corridor, close to educational institutions

Poor social infrastructure

SINGAPERUMAL KOIL

2,000

2,500

15 to 20

Close to Sriperumbudur and Oragadam

Pollution, poor social infrastructure

ORAGADAM

2,200

3,000

10 to 14

Emerging automotive and electronics Mfg hub

Distance from city centre, poor social infrastructure

           

PORUR

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Growth Drivers

Limiting Factors

Outlook

    

Chennai Realty August 2011 13


What's Hot your financial plan to ensure that you do not derail other dreams in pursuit of a house.

The risk of home ownership As a homeowner, one should be able to realise that there exists a risk of property prices declining. If you plan to stay in the house yourself, a drop in prices may not affect you much but if you plan to sell the property at a later stage, then this is an important risk factor to be considered in your financial plan.

Ownership comes with responsibility When taking a decision to buy, also remember that along with the housing EMI, one has to manage expenses towards maintenance too. Before you decide to buy, it is prudent that you estimate the amount that you are likely to incur on a regular basis. Is it investments versus dreams? From a financial viewpoint, you also need to understand how buying a house will impact your lifestyle. The increased responsibility and cost of ownership may compel you to limit your travel and shopping splurges. You need to decide for yourself about the willingness to make the adjustments required to buy a house.

Different properties suit different purposes and criteria In good and bad times, there are always opportunities available to us. Even in good times, some make bad decisions and businesses go under or investments go sour. Likewise even in bad times, there will be opportunities for some to benefit in far-fromideal conditions. Some may choose to cash out on their investments at a ‘compromised profit’ to ensure that they ride through this period without incurring very heavy commitments on mortgages, etc. Property investors could pick up these properties that would normally fetch higher market prices. Those who are able to should hold on to their property investments with a buffer of 1-2 years to service the mortgage even in the absence of rental. These investors are on a safe path to sail through the worst of any economic crisis. It will be worthwhile to keep the investment, especially if they have been purchased at good prices (for example, ` 2,100 – 3,000 per sqft) as it is highly unlikely that they would be able to pick up similar units at these prices given the fact that construction material prices have

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Chennai Realty August 2011

skyrocketed by as much as 40 percent over the last 1 year. This along with the increase in lending rates to real estate companies from banks will see developers increasing the prices by 5-10 percent in the coming months. The important thing to note is NOT to jump in and purchase any property that is perceived to be below market price. We need to do our SWOT analysis and do the necessary research and preparations that should accompany a substantial investment. You should view your investment strategy as a lifetime's occupation, based on savings and hard work, not a 12-month rush to become an overnight millionaire, which will be the road to ruin for many.

Will 2011 be a good time to sell or buy property? The question of whether to purchase property still goes back to the fundamentals, which is firstly to determine what the purpose of the purchase is. Investors/buyers need to be clear on these 3 matters – DD What is the purpose of the purchase

funding, assured rentals, etc. However, do check the track record of the developer and also the pricing. Though the package can be very attractive, you must count the cost and weigh the potential of capital appreciation when the property is completed as well as its rental potential. It is quite easy to get carried away and follow a ‘herd-like’ mindset and buy on impulse.

What to do as landlords of properties to have your properties rented out? In times when you are competing with many others for tenants, it may be wise to go easy on the rents and have the tenant occupy your premises than to hold on to high prices and wait months while your property is unutilised. Always work out your yearly returns as opposed to focusing on the monthly rental. It may be well worth your while to rent your unit at, say ` 12,000 for 12 months, than to wait to get ` 15,000 for only 9 months of the same year. The longer a property or unit is vacant, the less attractive it becomes.

DD Investment / Purchasing Criteria

And in conclusion…

DD How they intend to finance the purchase

Regardless of what you actually believe, the fact is you will need to consider the ongoing cash flow of the property in order to be fully prepared for all cycles in the property market. Being such an attractive investment, buying property attracts a great deal of money. It is also an attractive investment because you can leverage on other an investor’s funds (typically in the form of a credit) in order to make your returns higher. You do not have to invest your own capital entirely, but you will still enjoy the revenue on the entire cost of the real estate you own - both your portion in the investment and the loan money. Property enables you to not only make your own money work for you, but also the investor’s.

Remember that unlike shares and savings, there is no quick way to get your money out when investing in property. Investments in property can go down as well as up in value and property can sometimes take a long time to dispose of. Never invest money in property when you may need the cash in the short-term. You may have to wait some time if you need to sell and get your money back. Invest with a long-term perspective and get trustworthy professional advice. You can also take advantage of the packages and offers offered by developers i.e. pre-EMI

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i

-Property

Everybody knows collective buying gets the best rates.

Same applies to Real Estate too!

THINK Smart BUY Smart

Ever wondered why some people get discounts from developers while others don’t. So if you are looking to buy an apartment, flat or plot, join Chennai Realty’s Collective Buying Initiative ‘i-Property’. You could join a group of potential homebuyers in negotiating for best bargain price for your next property purchase. Chennai Realty will bring to you the best of properties in Chennai at an unbelievable price through this initiative. You could save anywhere up to Rs.10 lakhs on your property purchase.

Just leave your interest by completing the form in our website www.chennairealty.biz and we will keep you posted on potential projects in your location of choice and budget.


Iconic Village The Village defies its name in being an ultra-modern luxury residential development all set to redefine the art of living life

T

he Village is a well-spaced-out township comprising of super luxury villas and semi-attached villas, swanky low-rise apartments and contemporary high-rise apartments – all set in an idyllic surrounding of over 40 acres of magnificent greenery overlooking the backwaters of Muttukadu and the Bay of Bengal. The Village dazzles with its touch of timeless elegance. Wrapped within a bright and breezy ambience with resort style facilities, The Village will appeal to the young and trendy professionals looking for lifestyle homes. What’s amazing is that the entire township is a Platinum LEED Certified complex, making it totally environmentally sustainable. A whopping 82 percent of the 40 acres –32 acres – has been left open for greenery. Even the existing trees have all been transplanted and not cut.

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Chennai Realty August 2011

In addition to the residential development, the township will be home to a modern retail and commercial complex of over 1 lakh square feet offering its residents the joy of shopping and entertainment within the convenience of the premises. For the comfort of its residents, the township will feature a 5-star club resort with 40 guest suites and host a range of entertainment option from a multiplex cinema complex, swimming pools, spa, state-of-theart modern gymnasium, tennis, badminton and squash courts, yoga and meditation centre and a vast children’s play area. Common facilities like 100 percent power back-up for all residential units, 24/7 security using CCTV cameras, centralised BMS (Building Management System), 100 percent recycling of waste water for landscaping and flushing, separate underground lines

for sewage, electricity and telecom make the Village a truly iconic development. The project will be developed over 5 years at an investment of over ` 800 crore.

Villas and attached villas Phase I of The Village offers 18 independent villas and 50 semi-attached villas. The independent villas have a built up area of 4,400 square feet over a ground plus floors with five bedrooms. The attached villas sport 3 BHK with a built up area of 2,700 square feet. Each villa sports generously-sized bedrooms, dining, living areas, a private courtyard and an exclusive garden, offering you your very own refuge from the chaos of city life. The villas offer 100 percent ‘Plug-n-Play’

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Project of the Month facility for its owners as it comes fullyfurnished with all desirable world-class home appliances and amenities built in including air-conditioning and 100 percent power back-up. Ofir Bentov, Director, says, “The Village would be one of the largest integrated high-end residential developments undertaken on OMR. The Village is all set to redefine the concept of new age living where people look forward to spending their home time in peace and serenity of Mother Nature.”

Low-rise garden apartments and high-rise sky apartments Phase II of The Village, which will be launched by September 2011, will feature premium Garden Apartments housed in lots of four and nine stories, and sky apartments raising over 28 floors around a central landscaped core offering unhindered view of the landscaped greens, the backwaters and the sea. Each tower will have a grand reception lounge at ground level and serviced by high-speed elevators. Unique features of the apartments include the building of blade walls and no common walls between two apartments, thus ensuring utmost privacy for each unit. The garden apartments would consist of 2 and 3 BHK options of size starting from

1,200 – 1,700 square feet. All apartments come fully-furnished and have 100 percent power back-up. Each apartment would have its own covered car park which would be accommodated within the ground and double stilt podium structure.

Utmost safety and security The Village’s 6-tier security control ensures you sleep soundly at night. Security features include CCTVs that are installed at car parks and selected areas within the development, patrolling guards and an extensive card access system. Card access at the guard house, lift lobby, lift access to your respective floor and quadrant zone offers a truly secured home.

Convenient location Commuting will be a breeze for its residents as The Village is conveniently located within 30 minutes driving distance of major IT majors, hospitals, schools and entertainment options on ECR. The township will have its own modern retail shopping complex located within its premises. According to Satish Gottipatti, CEO, “The Village will offer myriad of recreational facilities not only for its residents, but also be fulcrum for entertainment option in the neighborhood with its modern retail and leisure set to attract people to its doors.”


Project of the Month

Developer incentives and profile The Village is jointly developed between Phonenix Developers, a diversified business group with vast experience in infrastructure development and HODU Ventures, a subsidiary of Gindi Holdings, Israel’s most reputed real estate developer with developments over North America, Europe and Israel. Designed by world-class architects, Cox from Australia and Surbana from Singapore, the Village incorporates the best of modern contemporary architecture and traditional values with specifications that match the best in the industry.

Project Highlights Category

Super Luxury Township

Location

Kalvakkam, OMR

Land Extent

40 acres

No. of Units

18 Villas 50 Attached Villas 48 Garden Apartments (2 & 3 BHK) 600 Sky Apartments (2, 3 & 4 BHK)

Structure

Villa & Attached Villa – G + 2 floors Garden Apartments – G + S1 + 8 floors Sky Apartments – G + S1 + 19 floors

Size of Units

Villa – 4400 sqft Attached Villa – 2700 sqft Garden Apartments – 1200 – 1700 sqft Sky Apartments – Upwards of 1000 sqft

Unit Cost

Villas – ` 242 lakhs & above Attached Villas – ` 135 lakhs & above Garden Apartments – ` 48 – 75 lakhs

Amenities

1. 82% open space 2. Club house 3. Swimming Pool 4. 1 lakh sqft retail and commercial space 5. 24/7 security 6. 100% Back-up power etc…

Completion Date

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Chennai Realty August 2011

2014 - 2015

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Developer of the Month

The Game Changer! The Olympia Group is not resting on its laurels for having created an iconic technology park but looks forward to taking the challenge of redefining property development into an art that sets them apart from the rest, reports Kishore Kumar A WALK DOWN MEMORY LANE Olympia Technology Park was one of redefining moments for the real estate industry in Chennai as it shattered several myths about creating a world-class iconic office space in the heart of the city. It was one of the boldest and single largest commercial property developments undertaken by a developer in Chennai, 30 percent larger than its nearest competitor at that time. Not only was it large but also became the largest LEED gold-rated green building in the world within 18 months of its launch. Today, it is home to over 13,000 new-age professionals from several Fortune 50 companies. What started off as a commercial project, ended up creating a brand so strong that the group’s identity was named after the project. The Olympia Group is today ranked amongst the best developers in Chennai and has several ongoing residential projects. The company continues to focus on Chennai and poised to deliver another 1 million square feet by December 2012.

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In a conversation with Chennai Realty, Chandrakant Kankaria, Director, Olympia Group shares his views on their prospects for the Chennai market. Excerpts from the interview –

You are from Kolkata. Tell us about your transition to become a ‘namma Chennai’ Developer? It all happened with the association of Chennai-based Khivraj Group with our MK Group and Space Group from Kolkata for Olympia Tech Park project. I moved to Chennai during the setting up stage of this project and since then, have adopted Chennai as my home. I feel quite at home in Chennai and enjoy what it has to offer including dosas and idlis (smiles).

After developing one of Chennai’s iconic commercial projects, why is that your group did not pursue creating similar developments in the city? As a group, we are not fixated on identifying ourselves as a commercial space developer. We look at development as an opportunity which could give us the best ROI on the land. We looked at opportunities with respect to the parcels of land we had and decided that they were more suitable for residential development than commercial development. In fact, our proposed Pallavaram project started off as a commercial project but

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because of delays in land acquisition and other procedures, we had to change our plans and convert it into a residential development. We as a group look at a certain minimum size which would justify our involvement in a project; a 2-ground development takes up the same time for approval as a 4-acre development.

What is your current take on the real estate market in Chennai and where do you see it going? The Chennai real estate market has been quite strong when compared to other metros in India as the demand for residential

spaces is very high from an end-user’s perspective. Chennai ranks second highest in the country in shortage of homes and because of this, the last one year has been good; there has been a good amount of absorption of apartments from the market. I would know more about the OMR stretch because most of our current developments are concentrated there. Of the 4,000–5,000 apartments sold on the OMR in the last 12 months, we would roughly have a share of 20 percent. But there is a cause of concern in terms of rising home interest rates and also the skyrocketing cost of construction material, which will force developers to increase prices.

Chennai Realty July 2011 21


Why have property prices gone up by as much as 30 percent in the last 1 year in Chennai? Lack of supply. Price of land has gone up only within the city limits as there is no supply of large parcels of land. Even what’s coming up is being bought at astronomical prices. The same cannot be said of the suburbs, where prices have been more or less stable in the last one year. Procedural delays in sanction of projects also add to the increase in prices of properties as the land is left idle pending approval from the authorities.

So how do you manage such risks given that could be pressure of achieving targets in terms of launch of new projects? We are not under pressure to necessarily launch new projects every quarter or so. We look at the opportunity and factor in the delays before going ahead with the project. We have been an active member of CREDAI and collectively been able to put up our requests to CMDA for fast clearance of approvals.

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Chennai Realty August 2011

Give us a run down on your current and pipeline projects? Currently, all our projects are in the residential sector. We have Olympia Opaline, a high-rise residential development at Navalur on OMR; almost 96 percent of which has been sold out. Next, we have our luxury project, Olympia Panache, a 23-acre luxury villa development in Navalur where we offer 3 types of villas with private gardens, swimming pools and home elevators. We also have Sky Villas measuring upwards of 6,000 square feet at Olympia Opaline. We will be shortly launching mid-range apartments at Thiruneermalai near Pallavaram which would have around 1,000 apartments spread over 40 acres. We should be launching projects in Kolkata very soon under the Olympia brand and actively looking at opportunities in Bengaluru, though we are not in a hurry to do something. We have an industrial SEZ development TAPP Semicon Park at Sriperumbudur spread over 53-acres for electronics manufacturing as well.

Olympia Tech Park was a LEED certified gold rates building. What about your residential projects. How green are they? All our projects are green LEED certified whether they are commercial, residential or industrial. In fact, we diligently follow it as our corporate green policy. Olympia was one of the founding members of IGBC (Indian Green Building Congress) and not only follows strict green standards, but also vigorously advocates the same to other developers. We educate our customers in understanding how a green development could lead to substantial savings in the operating cost of their premises.

But the perception is green is expensive. So do you charge a premium for your development from the customers? No, we don’t. Like any other amenities like swimming pools or CCTV cameras, we incorporate the green cost as one of our amenities. In fact, it’s been a USP for our developments and we take our leadership

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Developer of the Month in this green movement very seriously. Today’s customer is very intelligent and has learnt to compare an apple to apple, that’s the reason why our apartments in Opaline are sold at ` 5,000 a square feet while there are other local developers who struggle to sell their apartments at half the price in the same location. Obviously there cannot be a comparison between a regular ground plus three structure with a modern high-rise whose costing is going to be much more, given that there are several elements like common amenities, high speed elevators, cost of construction material and engineering which add up to the final cost.

What about your company’s manpower strength? Do you do your own construction? We are about 100 plus employees currently and would be looking to add another 75 to 100 employees in the next three to four months. Currently, we have our internal team only for project management; everything else is outsourced. But as time goes by, we may be forced to look at our own construction arm to tackle increasing costs in construction. We already have a marketing office in Bengaluru and would be expanding our employee strength in Kolkata as well.

What about opportunities outside Chennai in Tamil Nadu? To be honest, we have not looked beyond Chennai but given that there could be a good opportunity, we don’t mind looking to Tier II cities like Coimbatore and Trichy. Kolkata and Bengaluru are currently high on our radar, but only next to Chennai; we wish to replicate our success in Chennai in these two cities.

How do you secure funding for your projects? Funding for our projects is primarily through internal accruals and from group companies in addition to structured debt from banks. We don’t leverage too much on funding as we are not a land banking company. One of our SPV’s is TAPP Semicon Park with private equity funding from a large American private equity player. Broadly, we have not gone for any private equity or dilution at any project levels so far.

What about opportunities in retail and hospitality sector? We have not looked at the hospitality sector but retail is of interest to us. If we come across the right opportunity, the group will get involved in retail development at some point. Our focus is to deliver quality construction and so far, all our developments have achieved the distinction of being very high on quality parameters.

So what lies ahead for Olympia Group? As mentioned before, we look at each and every opportunity with an intent of creating something unique which sets us apart from the other.

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Chennai Realty August 2011 23


For Your Perfect Home Your home reflects your taste and personality, and decorating it correctly is very important. However, because of some common mistakes, it may not look very appealing. Here are things that you can avoid… Furniture arrangement Badly-placed furniture can make your home look very cluttered and messy. For instance, placing a large sofa in a small room makes your room look over-crowded. Small side table with a big sofa is also not very appealing. If you choose small pieces of furniture for a big room, make sure you buy just enough to make room look comfortable. So, before purchasing furniture, measure the room.

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Chennai Realty August 2011

Buying stylish furniture without thinking about how comfortable it is; is a common mistake. Modern dining with uncomfortable chairs only decorates the room. It does not make you feel like using it every meal. Choose comfortable and durable furniture in all rooms to enhance the use of the space.

Accessories / décor Too much decoration leads to a cluttered and disorganised look. Placing many expensive

accessories in living room only add to the mess. Choose select accessories that will add to the personality of the space. Do not put too many paintings, sculptures and cushions in a room. Sometimes, a single decorative piece is sufficient to highlight the look of the room. A big sculpture in bedroom or too many small sculptures in living room may not add to its appeal. If you are decorating a childrens’ room, avoid too many toys; it may be difficult to organise the room every day.

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Watch Out Colours While colour coordination is good and trendy, too much matching furniture and décor makes the room dull. If the sofa, furnishing and other décor around the room is in the same colour, it can appear cluttered. So, avoid decorating your room in one colour or style.

Lighting Improper lighting is another big mistake in decoration. If a room is too dark, it gives a melancholic feel, while a brightly lit room can be harsh on the eyes. So, care must be taken to ensure the right kind of light is used in each room. For instance, you can use task lighting in the kitchen. In the study room, use task lighting along with table lamps or floor lamps to make it conducive for work.

Wiring Your home may be perfectly decorated, but there many cables running across the floor and walls, making it look extremely messy. Undressed cables not only make your rooms look cluttered, but are also a fire hazard. Use cord covers to hide the cables or attach the cables to the back of the furniture.

Flooring and rugs Choose flooring wisely; otherwise it may need to be changed after you finish the entire construction. A slippery floor in bathrooms and kitchens is dangerous. Carpets in dining rooms are difficult to clean, as are white floors in kitchens. Small rugs in a big room and wall to carpet in bedroom don’t look nice.

Curtains Curtains are a common problem in house decoration – they are either too short or hand too low. Remember to match the style and design of the curtain to the décor of the room; cotton curtain in modern room and window blinds in traditional room don’t look appealing.

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Chennai Realty August 2011 25


Comfort Zone

Harmony in Design Chennai’s eminent photographer Sunder Ramu opens up on his most favourite place in the world: his office – Richa Sharma


F

or most of us the word ‘office’ is synonymous with Monday morning blues, endless commutes and bad coffee. But for photographer Sunder Ramu, his office is the most favorite place in the world! “Photography is not only my job but also my passion. On most days, my office is my home away from home. I love spending time there because my job is exciting and fun,” says Sunder of his office cum studio. Sunder uses his workspace to coordinate his shoots, fix up meetings and review his shots. He elaborates on the studio’s design philosophy, “As an artist, not only do I need it to be functional but also highly stimulating. I have personally designed the office in a minimalistic manner which helps me work and think better. The studio is compact, balanced, and set in a residential place so it has a very relaxed vibe.” A simple person by nature, Sunder’s office reflects and celebrates his simplicity and inherent creativity. The décor is eye-catching

and the harmony of design is evident in every aspect. No clutter, no corporate office look and definitely nothing formal. The overall office is airy, brightly lit and cheerful enough to perk him up even on a tough Monday morning. The first thing which catches your attention is the all-white front room complete with metal furniture. He has used this space as a gallery to display his best pieces on the inner wall. The office room inside is decorated with cane and antique furniture with interesting knickknacks and souvenirs collected from his trips all over the world. “I don’t like run-of- the-mill stuff,” he smiles, “I want my souvenirs to reflect my personality and match my taste in decoration.” On redecoration, Sunder says it all depends on his mood. “Sometimes I won’t redecorate for years, sometimes I will do it within three months,” he points out. Good thinking, we say. As long as one is comfortable and creative in the workplace there is no need for change just for the sake of it.

But if he had to make a few additions in his office, it would probably be more vintage furniture of which he is a huge fan. “I am so finicky that once I spent more than a year, looking for the perfect low table all over city and found just one matching all my criteria for ` 40,000. Luckily just before I went to purchase it, I heard of a Korean family looking to dispose their new furniture as they were leaving the city. I got my low table, a dining table set and some frames, all for ` 4,000! So, it’s good to look around and wait while making a big purchase.” he advises. Being a photographer has meant that Sunder is always on the move and travelling to different work locations. But however exotic the locations and however trendy the hotels may be, Sunder always prefers to chill only in his most favourite place in the world. It is warm, inviting and totally encapsulates his laidback style. And as he points out, “The coffee’s not half bad either.” A complete winwin scenario for him, we say!

Shopper's Guide Sunder loves to shop for his office space at Amethyst, Spacewise, Fab India and Evoluzione, all in Chennai. He also loves to shop all over India and abroad as well. He often ends up buying unique, vintage furniture from Japanese and Korean families. When he goes shopping, he always has a clear idea in his head about what he wants. He is not finicky about the budget rather it’s the synergy between all the pieces of furniture which is the driving point for each purchase.

Chennai Realty August 2011 27


Know All

Demystifying Feng Shui Originated in China nearly 3,000 years ago, Feng Shui is an ancient amalgamation of science and art. Here is a closer look at what it means to you and your lifestyle…

Feng Shui pronounced 'fung shway' literally "Wind Water"

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eng Shui is based on the Taoist philosophies and understanding of nature that the earth is alive with energy or Chi which when utilised or aligned well, brings good fortune. If there isn’t proper alignment, ill-health and misfortune prevails. Feng Shui comprises of balancing of five specific elements namely, Metal, Water, Fire, Earth and Wood. The interaction amidst the five elements of Feng Shui is termed as the Destructive and Productive cycles in Feng Shui. As per the philosophies, a balance among the five element energies needs to be maintained for positive forbearance and good fortune for the people in the place. Adhering to the principles of Feng Shui or smooth flow of ‘wind’ and ‘water’ brings about beneficial effects of Chi, the universal force within all things. Symbols and colours play a great role in this ancient art. Some of the popular symbols include: Tortoise for Protection, Mandarin Ducks for marriage and love, Koi fish for abundance, Horses for fame and success, Fruits for wealth and prosperity among a host of other symbols.

How does it work? From the perspective of Feng Shui, an initial assessment of the place is done which involves addressing all of the elements, that obstruct the smooth flow of energy or Chi. It is believed that with the correct placement of objects, or rearranging pieces of furniture, can promote balance, compatibility and harmony with smooth flow of Chi. All of this encourages progress and welcomes opportunities.

However, Feng Shui is not just about rearranging objects and goes beyond redecorating homes and offices. Basically, it considers the overall framework, accounting for the topography of the land, the entire structure, placement of nearby water bodies, vegetation of the area, local climate and the inter-relationship of each other. P Sharda sums up her experience, “We bought a new house with a huge garden. However, soon after we shifted, my husband fell ill and a few weeks later, my mother passed away. We didn’t like the coincidence or the ill health which we naturally started associating with the house. On advice from close friends, we hired a Feng Shui expert and he told us to close the well behind the house and construct a large pond in the front. We filled it in with small fishes, Koi which as per his advice, help to balance the energies.” She elaborates, “There are numerous other things that he suggested and we followed it. It did help! I am not a great believer of all of this but we soon resumed normal healthy living and I must admit our business improved considerably.” Feng Shui incorporates imagery and colours associated with the basic five elements to harmonise, balance, protect and energise as per requirement.

Feng Shui design Having a good Feng Shui design translates as a house built as per Feng Shui principle where there is a constant flow of air, proper ventilation and natural light. Additionally, there are no bathrooms over the garage or the bedroom, the front door is not aligned with the backdoor, and staircase does not face the main door.

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Chennai Realty August 2011

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Know All Feng Shui colour basics

Fame

Li fe st W yl e ea - O lt pp h or tu ni ty

Reputation Recognition R el at io M ns a Red hi rri ps ag Fire Pa e rtn er sh ip s

le

nk h Pi art E

rp

Pu

Each colour represents a theme for the home. Red symbolises energiszing and is used for the dining room while Indigo symbolises relaxation which can be perfect for the children’s room or the Pooja room. Accordingly, different colours have different theme symbolisation.

Inner Child

Children - Creativity

Metal

White

Wood

Green

Family

Community - Elders

Bl

ue

y

e tion dg a n le duc atio ow - E ltiv Kn om - Cu d is lf W Se

re

G

e

pl

o Pe

l ul ve pf Tra l e

Black Water

Color

Red Orange Yellow Green Blue Indigo Purple

Theme

Good For...

Energizing

The Dining Room To Keep Guests Energized And Excited. Joy Family Rooms, Playrooms, Use Softer Shades For More Relaxed Fun. Happy Dens, Kitchens, Offices, Where Ever Creativity Is Needed. Balance, Renewal Living Rooms, Bedrooms, Halls. Healing, Calming Wherever You Want To Relax Healing, Relaxing Childrens Rooms, Healing Rooms Richness, Spiritual Rooms, Feelings Of Transformation Abundance.

H

Career

Life Path - The Journey

Feng Shui themes The basic themes that people require Feng Shui includes: family, career, health, abundance, relationships, knowledge and fame. The colours and décor along with incorporation of the five elements of Feng Shui are used to address the theme. Facing...

Theme

What To Favour...

What To Avoid...

North

Career

Dark hues of blue or black, water

Earthy colours, squares

Southwest

Relationships

Pinks, rose colours

Single items, mismatched pairs

East

Family

Greens, earthy tones

Round items, shiny or reflective objects

Southeast

Abundance

Purples, violet

Water symbols

Center

Health

Yellow hues

Sharp edges, squares, columns, spiral staircases

Northwest

Travel

Grey, metallic hues

Reds

West

Creativity

Shades of grey, white

Red, sharp edges, triangles, fire

Northeast

Knowledge

Shades of blue, water symbols

Sharp angles, reds, fire symbols

South

Fame

Reds, fire symbols, triangles

Dark hues like black or blue, water, mirrors or reflective surfaces

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Some Feng Shui design principles originated from the idea that your environment reflects your life's circumstances and your life's problems can be affected by correcting design imbalances in your surroundings. Any positive results may come from staying focused on the solutions to your problems. So replace those superstition-laden words like ‘luck’, ‘abundance’, ‘auspicious’ with phrases such as ‘more attractive’, ‘neater’ and ‘cleaner lines’ as you read about Feng Shui.

Chennai Realty August 2011 29


Trend Turner

One With Nature The Indian Green Building Council (IGBC) has recently brought an accredited system of rating eco - friendly ‘green’ homes conserve energy during the long summer months. For proper lighting, the windows should face east, but consider the other factors of natural and manmade landscape features such as trees, walls and other homes. You would not like any of these to block the natural light.

Insulation from heat and dust

W

ith alarming levels of pollutants in the air and global warming increasing every year, more and more people are moving towards environment-friendly homes. In case you are planning to build a new home or just renovating it, enjoy the advantage of being in tune with nature. Not only do your electricity and other infrastructure and utility bills reduce drastically, but organic material do not give off chemicals, promoting better wellness. Take the case of S Bala and Vidya, who took the advice of their architect and used eco-friendly material when remodeling their home. With proper ‘green insulation’ used in the rooms on the first floor, it has lessened their electricity bills to about 20 percent for the whole house. Practicing rain water harvesting methods, they have a pretty garden that uses organic compost that they make in a separate area behind the house.

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Chennai Realty August 2011

The water conservation methods, with rain water harvesting have helped them utilise the collected water for watering the plants and lawn. Vidya says, “Everyone admires my little garden and is surprised that even during months of water shortage, we are able to enjoy the plants.”

Sunshades and roof overhangs will cut down the heat absorbed, thereby saving energy and also increasing the lifespan of the building. One another way to ensure that your home remains cool during the summers and warm in the winters is to use organic insulation on walls and ceilings. It also reduces the electricity consumption drastically due to less energy being used for cooling or heating. The best ‘green’ insulation to use is cellulose that is manufactured from plant material, which includes sawdust, hemp, cardboard and corncobs in addition to 85 percent newspaper that has been recycled. With major use of recycled newspaper within the eco-friendly insulation, cellulose insulation has reduced the newspapers that are filling up landfills. This in turn minimises the release of greenhouse gases.

There are numerous considerations to be made before making sure your home is in tune with nature. However, this will give you a chance to live better without adding to the increasing global warming. Here are some tips to enjoy a pollution free, eco-friendly living in environment-friendly ‘green’ homes:

Orientation of the house To start with, check the orientation of the house by minimising cutting tress, harnessing natural light and better ventilation. It is best to have cross-ventilation as it will help you

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Trend Turner Landscaping Eco-friendly landscaping is important to utilise rain water, conserve water while giving the home a beautiful manicured look. In areas where water is scarce during the summer months, it is a good idea to have a thick layer of top soil as it conserves water. Additionally, with open areas in the house, the greenery should extend into the house, giving a look of a larger space.

Air-conditioning Air-conditioners are not eco friendly or at least the traditional technology behind it leading to high carbon emissions. However, the newer Variable Refrigerant Volume (VRV) technology has come with a range of eco-friendly air-conditioners that are crafted from biodegradable material, 30 percent more energy conserving and do not emit high volume of carbon. Additionally, it is best to go with Energy Star Approved products as they are cleared by the Environmental Protection Agency and its efficiency is 10 percent higher than required standards. Additionally, to be energy efficient, proper maintenance is important.

Solar energy

Lighting More the natural, lesser is the energy consumption, helping save electricity. When you are planning the lighting, go in for CFL and LED lights which consume nearly 50 percent less than other bulbs and lights. It is a known fact that CFL lighting emits as much light as a conventional bulb but the energy consumption is far less. LED lights do not take time to light up and cost 80-90 percent less than traditional lighting. These are known to run for over 100,000 hours without breaking down. For lighting outside the front door, in the driveways, and on the walkways in and around the house, solar lights are beneficial.

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When you are going green and harnessing the natural resources to ensure your life becomes equally comfortable without chemicals and wastage, solar energy is the best way to show you care. With most of India receiving abundant sunlight all through the year, Water conservation installing solar panels to generate green energy for your home can save Most of the new constructions and builders are imbibing you money. From regular lighting to methods of water conservation in their projects. Rain water using the solar electricity to warm harvesting is fast catching up as one of the best ways of water, outdoor lighting and even water conservation. Other factors that can help water running appliances, solar energy conservation include – is the hope of tomorrow. Although DD Changing taps that leak and checking for hidden leaks. installation of solar panels system DD Turning off taps if not in use. is a one-time cost, you can enjoy the DD Not throwing away dishwater or water after washing benefits for life. clothes. This water can be used to water plants and the trees.

DD Avoiding unnecessary flushing of toilets and minimise bath water. DD Avoid washing cars and walkways directly with a hose pipe. It is best to use brooms for walkways and a washcloth to clean the car.

Energy saved is energy generated. With ecologically-friendly homes coming into vogue, the growth prospects of saving and conservation of environment has reached a new high.

Chennai Realty August 2011 31


Au Natural

Embellish your home with artifacts, handicrafts and decorative pieces from the Deco Aro flagship store on Khader Nawaz Khan Road – Sajini GM

W

hile aesthetic furniture and handy gadgets are imperative in a home these days, dressing it up with appealing artifacts and decorative pieces add an element of uniqueness and personal touch. Be it wallpaper, vases, interesting artifacts showcasing art from across the world or just figurines, each of these objects give a sense of creativity to a space – one that can really highlight the personality of the people living in the house. Keeping this need in mind, Brajesh Gutgutia, Uttam Gutgutia and Rishi Tulsyan put their expertise of 15 years in the industry together to come up with a concept of decoration in combination with aroma to create home decor products.


Show Space A different genre Mind you, Deco Aro is not just another runof-the-mill store for home décor products. With their experience in the international market, the owners have curated bespoke experience for each of their customers by sourcing material from different parts of the world and presenting it in combination with many natural products available in India. The brand has been fulfilling demands from not just Indian consumers, but also producing products that have a unique Indian touch and delivering it world-over. Driven by the desire to make sure international quality products are available India, the owners have carved a niche for themselves in the market in a short span of time.

Going places The success of their first store in Guindy and the popular demand led the trio to launch their second store in the heart of the city – Khader Nawaz Khan. Spacious-enough and well-stocked, this new store attracts the city’s

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who’s who, and has raced ahead to become one of the best places in the city to shop for home décor.

Options galore So, what does Deco Aro house? Pot pourri, wooden vases, pot arrangements, decorative frames, aromatic candles, twigs and bamboos, aromatic diffusers, diffuser lamps and many more sum up the products available at the store. Priced between an extremely affordable ` 399 and going up to ` 8,000, the USP of this store is the amazing range of natural products that make you feel close to nature. Besides this, the ambience of the store, which looks decorated in its own right, and simplicity will have you coming back for more! The specialty of this store is the beautiful aromatic candles, variety of dry flower arrangements and many other decorative pieces that can all be found under one roof. The aroma diffusers, candles, bamboos and

gift packages deserve a mention as well. International quality matched with products that have an Indian touch makes the whole experience of shopping at this store extra special. In a short time frame, Deco Aro on Khader Nawaz khan Road has received a lot of appreciation from customers, who feel that it is one-of-a-kind. The tranquil ambience with the effect of nature’s best has urged the brand to move their flagship store to this location from Guindy – a move that makes their presence even stronger in the growing market of interior embellishments. Siddu’s Complex, 2nd Floor, 18, Sardar Patel Road, Guindy, Chennai 600032. Contact: 044-22300440, 044-64550440 9, Khader Nawaz Khan Road, Nungambakkam, Chennai 600006. Contact: 044-28332544/45 E-mail: knk@decoaro.com

Chennai Realty July 2011 33


Smart Money

Pay The Price Here’s a summary of everything you need to know about rental yield

T

he annual rental income, expressed as a percentage of the property purchase price, is called rental yield. This is also the amount that you as a landlord get in return on your investment before you pay any tax, maintenance charges or other associated costs.

priced properties is witnessing a decrease. It added that low-priced properties have been witnessing an increase in rental yield. This suggested that low-priced properties, which are often small in size, are more in demand.

Problems in the Indian market

You can use rental yield data to understand how attractive a particular property is. Properties with higher rental yields are more attractive investment opportunities and are more reasonably priced. Though rental rates depend more on the location and infrastructure facilities around the property, a low rental yield may indicate that the property is overvalued.

Analysts believe that the concept of rental yield is not applicable completely to the Indian context since the capital appreciation of properties in India is much higher than rental appreciation. The rental appreciation cannot keep pace with the pace of appreciation in capital values due to the speculative environment in certain markets.

How is it calculated? Rental yield is the total yearly rent divided by the house price and is expressed as a percentage. The formula is: monthly rent x 12/house price x 100. Here the house price is the existing capital market value of the property.

What’s its significance? For any real estate market, calculation of rental yield helps in observing the movement

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Chennai Realty August 2011

of rental rates in the region. It also helps draw a correlation between capital value and rental income from a property. For instance, a recent survey conducted by ICICI Securities Ltd in India found that rental yield across high-

Also, unlike organised markets such as the US and the UK, the Indian real estate market does not have tabulated data on rental income and property value for each city and region. Though the recent National Housing Bank has taken initiative in keeping a track of rental rates across key cities in India, the task of calculating a national average is difficult. Moreover, the real estate market in India is diverse and different in each state. For instance, Delhi-NCR market is more speculative and investor-driven, while Chennai is more end-user driven.

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Smart Money

Pension from Property A constant inflow of income, much like a pension, without any work would be an ideal solution, which can put an end to all suffering as you grow old. But how is it possible?

B

ecoming old without proper financial support can be a very trying experience. The rising cost of living, healthcare, other amenities compound the problem significantly. No regular incomes, a dwindling capacity to work and earn livelihood can make life miserable. Reverse Mortgage scheme could be the answer to these senior citizens. Most people in this age group, either by inheritance or by virtue of building assets, have properties in names, but are unable to convert it into instant and regular income stream due to its illiquid nature. The Union Budget 20072008 had a great proposal which introduced the Reverse Mortgage scheme. Reverse mortgages give them a chance to convert their one big asset — their home — into a regular income stream, without sacrificing

The good thing is that the person who ‘reverse mortgages' his property can stay in the house for his life and continue to receive the much needed regular payments. So, effectively the property now pays for the owner. So, effectively that you continue to stay in the same place and also get paid for it! Where is the catch? The way reverse mortgage works is that the bank will have the right to sell off the property after the incumbent passes away or leaves the residence to recover the loan. It passes on any extra amount to the legal heirs. There are other reasons too. The loan tenure, maximum of 20 years, is a drawback. After

4

1 Senior citizen lives in his/ her own house, needs better cash flow.

2

its ownership. However, till now, only about 7,000 reverse mortgages have been sold, though over 20 banks offer the product.

MONEY THROUGH THE ROOF

Pleges rights to the property to the bank in return for regular income.

3

Bank values house; Icon amount is usually 90% of the house value for traditional reverse mortgage (RM) loans, and 60% in case of annuity RM.

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Monthly income stream starts. Income can be split between an initial lump sum and monthly stream.

5

6

After 20 years, the income stops but the customer can occupy house till death in case of annuity, the customer receives payments till death.

The heirs have the option to pay back the loan amount and retrieve the house, or let the bank take over the property.

Re

e

rtgag

Mo verse

20 years, the borrower will either have to repay or let the bank take possession (to be sold after the person’s death). The borrowers are concerned about low valuations by the banks. The bank, on the other hand, is taking a risk because the property price can fall below the loan amount. The result: Bankers are not too keen to promote or sell the product, and the potential customer does not give enough thought to reverse mortgage as a financing option. Things might change going forward. The main reason for this is that the earlier reverse mortgage product ran for 20 years, after which the income stream stopped. A new product launched in early 2010 born out of a bank-insurance company tie-up, combines annuity with reverse mortgage, which means the income stream will continue throughout the lifetime of a customer. The amount the customers get is also more by 50-75 percent, because insurance companies with actuarial skills understand the risk and price the products better. The new product is not without a catch either. It’s not clear how this product will be treated by the tax authorities. While reverse mortgages are exempt from tax, annuities are not. In the long run, demand for reverse mortgages is likely to go up. There are broader social changes — growth of nuclear families, elderly people living alone, children settling abroad or in bigger cities — that will drive the growth of the product. “The market opportunity is growing. Senior citizens living alone or with only spouse are expected to grow to 25 percent by 2015 from 15 percent now. We estimate the target market of 6 million households by 2015 for the RML offering,” says Nawal of National Housing Bank.

Chennai Realty August 2011 35


Safe and Sound Home safety is not just about installing the latest security gadgets but about keeping everyone safe at home

I

f you are staying with your elderly parents, their security is of prime importance too. Although most people look after and care for the elderly or relatives staying with them, those who stay alone, have high security risk. Even innocuous items such as rugs, marble flooring, standard toilet seats and aesthetically artistic lighting can prove dangerous for the elderly. Are you surprised? S Vandana relates, “We had just done up our new home and my mother-in-law came to stay with us for a few weeks. She was very pleased with the house, as it was done up artistically by the interior designer. However, in the wee hours of the morning, as she got up to go to the bathroom, she tripped on the rug in her room, slipping on the marble flooring and her head hit the doorway. We felt so bad and she had to stay for a fortnight in the hospital due to multiple injuries.� Thus, taking preventive measures ensures that whether geriatric live alone or with their

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Chennai Realty August 2011

family, they remain safe at all times. Most of them love their independence while others do not want restrictions put on them. To take a median path, ensuring safety or modifying the house as per their convenience is the best option. Here are some points to consider when you are trying to remodel or add additional features to your home –

Kitchen safety With age, there are a host of illnesses that an older person starts to attract. They are also prone to accidents, especially in the kitchen and bathroom. In the kitchen, the foremost thing to consider is anti-skid flooring, proper lighting and a kitchen counter that is at a comfortable height. Easy access to containers, which are made of plastic or steel and not glass is also crucial. Smoke alarm installations and emergency light back-up is essential in the kitchen to prevent any mishaps.


Health Quote and carpet within the living room and other rooms accessed by the elderly can ensure they do not slip or trip. Proper, bright lighting in all rooms is essential. If the budget permits, an automated lighting system that is activated by sensors or movement can help light up the home without fumbling in the dark to switch on the lights. For additional safety, video door phones and burglar alarms can be installed; replacing door knobs with levers can help them open doors easily. If the house is a duplex or has more than one floor, straight staircase with wide steps can minimise the chances of accidents; spiral stairs are a strict no-no. If they have limited mobility or are handicapped and use a wheelchair, it maybe of advantage to install ramps as and where needed. In most cities, water shortage is prevalent and people use water sumps. For ease of use, having self-filling water sumps and overhead tanks can make life hassle-free. Having inverters and emergency back-up lighting back up is extremely important so that even during power outage, they are safe.

Bathroom safety Bathrooms should be equipped with sturdy support handrails along the walls so that they can hold on to it, whenever needed. Again, anti-skid flooring in the bathroom and waterabsorbent mats outside is important. Avoid marble or smooth-tiled floor. Design a separate wet area so that the whole bathroom is not damp all the time. Install water heat gauges; the chances of burns are high because elderly people have low sensitivity with progressing age. Provide seating in the bathing area and install railings near the toilet seat to assist them in sitting down and getting up. In addition, a raised toilet seat can be of advantage.

General safety and security measures Apart from the kitchen and bathroom, there are numerous other instances where accidents can happen. Removing rugs

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Before you start making the required changes within the home, consider these key features – DD Does the bed have railings so that the person does not fall of the bed, yet get in and out easily? DD Do the upper floor windows have adequate grills and other safety measures to ensure that no one can fall down? DD Is the flooring in the house slippery or made of marble? DD Is the lighting adequate? Are there nightlights positioned such that the path and the room have minimum light required to find the way out? DD Are the bathrooms equipped for handicapped or elderly persons use?

Chennai Realty August 2011 37


Save Energy Lowering energy-bills is on every home-owner’s mind. But to do this, you must be aware of the energy consumption of your house

I

f you know about the consumption of electricity by various appliances used in home, you can save electricity in a better way. Saving electricity not only adds to your savings, but also helps thousands in their demand for energy. Here’s how you can contribute to saving electricity in your home –

Quality Family Time  Spend maximum time with family in one room by changing living habits to save electricity.

Lighting  Switch off lights and electrical appliances when not in use.  Use sunlight as much as possible. Avoid the use of artificial lighting during day.  Paint walls and ceilings in light colours.  Provide adequate ventilation to enhance natural light and air.

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Chennai Realty August 2011

 Keep lamps and fixtures clean to provide more light.  Avoid the use of decorative and concealed lighting.  Use accurately-sized wiring to reduce energy loss and fire hazards.  Use CFL or LED lights as they consume less electricity, give more light and have a long life.

 Decrease partition height wherever possible to provide light in both parts from one source.  Use coolers and air-conditioners carefully.  Fit external lights with a motion sensor.

Fans  Replace conventional regulators with electronic regulators for ceiling fans.  Install exhaust fan above the height of a ceiling fan.  Grease electric fans regularly to avoid unnecessary fraction.

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Tech Talk S.No.

Appliances

Wattage

Operating Hours/Day

Units

Cost / Month (`)

1 2 3 4 5 6 7 8

Incandescent bulbs Incandescent bulbs Fluorescent tube light Night lamp Mosquito repellent Fans Air coolers Air-conditioners

40 60 40 15 5 60 175 1500

10 10 10 10 10 10 10 10

12 18 12 4.5 1.5 18 52 450

31.20 - 42.00 46.80 - 63.00 31.20 - 42.00 11.70 - 15.75 3.90 - 5.25 46.80 - 63.00 135.20 - 182.00 1170.00 - 1575.00

9 10 11 12 13 14 15 16 17

Refrigerator Mixer Toaster Hot plate Oven Electric kettle Electric iron Water heater - instant 1-2 litre Water heater - instant 10 to 20 litre capacity Immersion rod Vacuum cleaner Washing machine Water pump TV Audio system

225 450 800 1500 1000 1500 1500 3000 2000

15 1 0.5 0.5 1 1 1 1 1

101 13.5 12 22.5 30 45 45 90 60

262.60 - 353.50 35.10 - 47.25 31.20 - 42.00 58.50 - 78.75 78.00 - 105.00 117.00 - 157.50 117.00 - 157.51 234.00 - 315.00 156.00 - 210.00

1000 700 300 750 100 50

1 0.5 1 1 10 2

30 11 9 22.5 30 3

78.00 - 105.00 28.60 - 38.50 23.40 - 31.50 58.50 - 78.75 78.00 - 105.00 7.80 - 10.50

18 19 20 21 22 23

Total

1092.50

2840.50 – 3823.75

Refrigerators

Electric Iron

 Keep refrigerator doors closed when not in use and make doors air-tight.  Regularly defrost refrigerator manually, as frost consumes more energy.  Allow for air circulation around the refrigerator by leaving space between the refrigerator and walls.  Do not keep refrigerator too cold.  Cover liquids and other food items as uncovered food releases moisture which makes compressors work harder.  Do not put hot or warm food items into the refrigerator.

 Use automatic electric iron.  Set regulator according to the nature of clothes.  Do not sprinkle more water on clothes or iron wet clothes.

Mixer/Grinder  Avoid dry grinding as it takes more time than liquid grinding.

Electric Stove  Switch off electric stove a few minutes before specified time for cooking.  Use flat bottom pans that consume less energy.  Use solar energy as far as possible.

Electronic Devices  Switch off the TV and audio system when they are not in use; idle operation also losses energy.

Computer  Save energy by switching off the monitor when not in use.   Set computer monitor and copier to use sleep mode when not in use to help cut energy cost by approximately 40 percent.  Draw power plug from sockets when not in use.

Washing Machine  Always wash only with full load.  Use optimal quantity of water.

   

Make use of the timer to save energy. Use detergent in required quantity. Use hot water for cleaning dirty clothes. Avoid electric drier; use natural drying for clothes.

Air Conditioner  Choose air-conditioners that come with an automatic temperature cut off. Setting the temperature at 26 degrees centigrade will cut your AC electricity consumption by 40 percent.  Keep regulator at low cool position.  Operate ceiling fan for spreading cold air effectively throughout the room.  Seal door and windows properly.  Maintain proper air circulation between the wall and air-conditioner.  Apply thermal insulation with roof to reduce the load on the air-conditioner.  Use window panes with sun films or cover them with curtains.  Do not place lamps or TV sets near the air-conditioner.  Keep outdoor unit of air-conditioner in a shaded area.  Clean the air-conditioner filters at least once a month.  Buy equipments of proper size to meet your family's needs - an oversized airconditioner unit will waste energy.

Electric Motors  Lubricate motors and motor drives regularly to reduce friction.  Keep motors clean to aide in their cooling.  Place motors as close to the load as possible. Pulley drives should be avoided if possible and use direct coupling.  Use motors according to your requirement as oversized motors waste energy.  Motors should be of high efficiency.  Tighten the belt and pulley regularly to reduce the loss of energy due to slip.  Replace worn out bearing immediately and ensure timely repairs.


Policy Police

Registration Realities More often than not, land or property registration is often misunderstood as too complicated and bureaucratic. Here’s a quick guide to demystify the process…

L

and or property registration refers to the registration of documents pertaining to change in ownership and transactions involving immovable property by an appropriate government authority. Whenever you buy a piece of land/immovable property, you need to register the same with the concerned authority, so that a legal ownership title is guaranteed to you. This greatly reduces risk of fraud and helps solve disputes easily, in addition to creating and maintaining an up-to-date public record.

The Process Under the Tamil Nadu’s STAR (Simplified & Transparent Administration of Registration) Computerised Land and Property Registration System, registration is easy. It facilitates transparency in valuation and eliminates middlemen. Parties to the transaction – advocates and licensed document writers – are the people who are eligible to draft the deeds. The process involves the deed for registration to be presented to the registration officer at the sub-registrar’s office within whose jurisdiction the property is located. The officer checks the documents and annexes, and sets a date for both parties to sign the instrument of transfer before the subregistrar. The sub-registrar also makes sure that the stamp duty paid is consistent with the value of the property, and receives payment of the registration and execution fees.

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Chennai Realty August 2011

Normally the sub-registrars may insist on presentation of revenue records such as Adangal, Chitta, FMB etc, though it’s not mandatory for the process of registration. The documents are submitted to the reader of the Sub-registrar of Assurance for scrutiny. After scrutiny, the reader indicates the registration fee required, on the document itself. The registration fee is to be deposited with the cashier against a receipt. The value of a given property, determined by the area or zone in which it is located, can be verified from a valuation schedule. If the sub-registrar feels that the property has been undervalued, a strategy used to minimise the amount of stamp duty to be paid; he may decide to inspect the site, which can take from 3 to 5 days. This is not often the case. However after payment of the registration fees, the document is copied into the registry; copies of the document are pasted onto 2 indexes titled ‘Name and Property’ and ‘Accounts and Reports’. The document is delivered upon presentation of the receipt previously issued by the cashier.

An executed document should be registered within four months from the date of execution. The sub-registrar may condone delay up to four months with a penalty. Though the registered documents can be returned on the same day, it normally takes anywhere between a week to ten days for the registered documents to be collected. When registration of a document is refused, one can file an appeal before the District Registrar concerned within one month.

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Policy Police

Govt. of Tamil Nadu stamp duty and registration charges S. No.

Categories of Document

Stamp Duty

1

Sale - From Builder - 2nd Home Sale

2

Gift

3

Exchange

4

Simple Mortgage

Regn Fee

5

Mortgage with possession

8 percent on the guide line value of UDS of the property 8 percent on the market value of the property 8 percent on the market value of the property 8 percent on the market value of the greater value. 4 percent (on the loan amount) subject to a maximum of ` 20,000 4 percent on loan amount

6

Agreement to Sale

` 20

7

Cancellation

` 50

` 50

8

Partition

1 percent on the market value of the property but not exceeding ` 10,000 for each share

1 percent subject to a maximum of ` 2,000 for each share.

9

General Power of Attorney - In favour of family members - In favour of non-family members Settlement - In favour of family members

10

- Other Cases 11

Partnership deed - In favour of family members - Other Cases

12

Deposit of Title Deed

13

Release

14

Lease - Lease below 30 years - Lease up to 99 years - Lease above 99 years

15

Declaration of Trust

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The seller and buyer are required to bring two witnesses, along with the following documents – 1 percent of the property.

1 percent on loan amount subject to a maximum of ` 5,000 1 percent subject to the maximum of ` 2,00,000 1 percent on the money advanced

` 1,000 ` 10,000 1 percent On the market value of the property but not exceeding ` 10,000 8 percent on the market value of the property

` 50 ` 300 0.5 percent on loan amount subject to a maximum of ` 25,000 1 percent on the market value of the property but not exceeding ` 10,000

Checklist

1 percent on the market value of the property subject to a maximum of ` 2,000 1 percent on the Market Value 1 percent on the Capital invested 1 percent on loan amount subject to a maximum of ` 5,000 1 percent on the market value of the property subject to a maximum of ` 2000

1 percent on the total amount 4 percent rent including premium 8 percent rent including premium

1 percent subject to a maximum of ` 20,000

` 180

1 percent on the amount

DD Document required to be registered (in duplicate) DD Two passport-sized photographs of the authorised signatories of both parties DD Photo identification of each party and witnesses, such as a voters’ identity card, passport, or identity card issued by the government of India, semi-government and autonomous bodies, or identification by a Gazette Officer DD If the party to the transaction is a company, then certified true copy of the resolution of the Board of Directors’ along with certified true copies of Certificate of Incorporation of the company DD PAN card of parties to the transaction must be submitted for registration of documents involving a property exceeding a value of ` 5,00,000. In case PAN number is available then a declaration in Form 60 Statement DD Patta Transfer application with court fee stamp of ` 5 DD Registration fees DD Sub-Division fees DD NOC is required from local bodies concerned if the document relates to first conveyance of house site in an unapproved layout

Mutation process After execution and registration of the document, the transferee can approach the appropriate authority like Chennai Corporation, Water and Sewage Board and Electricity Board to change the name in records by presenting an application along with the copy of registered documents.

Chennai Realty August 2011 41


Get Help

Plan your Plot Investing in Plots? Here’s what you should know – S Kanagasundaram, President of Association of Licensed Building Surveyors, Coimbatore What is a plot? A plot, also called site, is a small piece of land with certain dimensions.

What is a layout? A layout is division of a large piece of land into a number of plots. As per statutory requirements, a minimum of 10 percent of the total area of the layout should be reserved for OSR (Open Space Reservation).

Is just Panchayat approval not enough? No. Approval without LPA (Local Planning Authority) or DTCP (Department of Town and Country Planning) permission is not valid. This is true for both town and village Panchayat.

How do I know if proper approval is given? The approved plan of the layout or site is affixed with seal of LPA or DTCP along with a reference number, date and signature by hand. In addition, local body also affixes its seal along with a reference number, date and signature by hand. If both these are present, the approval is certified. Make an effort to check these reference numbers with the respective authorities.

Is a separate building approval needed on already approved site?

road and OSR to local body by way of a gift deed, before a license is issued to them.

Yes. Separate building approval is needed. Pre-requisite to this is plot approval.

For what can I use a layout site?

I have purchased a site in a layout from a builder and got him to build my house on it. He has given building approval plan only by the Panchayat. Is this sufficient? There is no OSR (Open Space Reservation) in the layout. No. The layout should have been approved by LPA or DTCP first. It is incorrect for the Panchayat to issue building licenses without plot/layout approval. Had it gone for approval by LPA, OSR would have been provided. The house, as it stands now, is an unauthorised construction.

What is the requirement for approval of a housing plot? First, it should gain access from a public road. Minimum plot size should be 52 ft by 20 ft.

In a layout, what is the status of roads? In approved layouts, all roads are publicowned. Promoters are required to surrender

Usage of site is decided by approved ‘land use’ given to the entire layout. It can be residential, commercial, mixed, industrial or other as given in the approved layout plan. However, a layout with house sites cannot be used for industrial purpose.

What details should be checked for buying a site in a layout? a. Look for LPA or DTCP approval number and seal, and Local Body Licence number and seal. Do not accept just a ‘Panchayat Approval’ or ‘near DTP approval’. Also, a final approval by a local body is a must. b. Check if usage of site is for residential or other purpose that you are interested in. c. Check if area of OSR, marked as Play Area, Garden, Park or other, is at least 10 percent of total layout area. d. Read all conditions attached in the approvals. e. Get to know the status and purpose of land marked ‘Owners Site’. f. Confirm that no development charge or other fees need to be paid while you apply for a building license. Approach your local body office for verification. g. Get an Encumbrance Certificate and establish the owner of your site. If it is not the layout promoter mentioned in the approval papers, ensure your sale deed is made by the current bonafide owner. The sale deed should have an attachment of a copy of approved layout plan clearly indicating dimensions of your site. h. Understand liability of the seller in case of any irregularities with the property and sale. You may consider including a compensation clause. i. Get a legal opinion, before making any commitment.

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Good Show

Class apart The recently concluded Luxury Homes 2011 sets a new benchmark for property shows in Chennai – Rohini Kumar

T

he demand for high-end luxury homes has been strong in recent months in Chennai. Of late, a slew of high-end projects have been launched by several developers, mainly within city limits and along the ECR and OMR. The first edition of Luxury Homes 2011 turned out to be a successful show as more than 23 leading developers from Chennai showcased their various projects in the price range of ` 75 lakh to ` 10 crore. Organised by Chennai’s leading event management company, Eyeball Media, the event had a footfall of over 2,800 HNIs visiting the 2-day event organised at Chennai Trade Centre on July 10 and 11, 2011. The show was inaugurated by Chittibabu, MD, Akshaya Homes and Vijay Kapur, MD, Derby Fashion Clothing. Speaking on the occasion, Chittibabu, warmly congratulated the Eyeball team for putting up such a stellar show for the first time in Chennai, exclusively for luxury properties. The show witnessed a steady flow of potential buyers who, in comparison to other shows, spent a lot of time at the stalls understanding the projects and narrowing their choices at the venue itself. Speaking to Chennai Realty, Satendra Singh, CEO, Nokia Siemens said, “I found the show very interesting and extremely useful as I was able to sit and discuss my requirements with developers which was never the case in my experience of attending property shows in Chennai.” While Akshaya Homes, TVH, Landmark Constructions, Marg ProperTies, Jain Housing and several others lead the Chennai pack, developers like Puravankara, Unitech,

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Chennai Realty August 2011

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Show Report IVRCL, HIRCO and Mahindra Lifespaces lead the national pack. Other participants included Padmavathy, Prince Foundation, Amarprakash, BBCL, Bollineni Hillside, Kgeyes, Manju Foundations, Navin Housing, Real Value and NAPC Properties. Notable among the super luxury projects were the Bay Influence and The Village. Chennai Realty was the partner magazine for the event and for the first time introduced the concept of show directory with information on all participants and projects to be distributed for all registered visitors to the expo. Commenting on the show directory, Achuthan, visiting the exhibition from Kerala, said, “I found the show directory quite useful as I was able to shortlist properties of my choice and head directly to those stalls rather than spending time browsing through all stalls. It saved a lot of my time and energy.” The show was a trendsetter in many ways as new concepts like valet parking, personal attention to visitors, welcome drink and entertaining music made it a lively event – both for the exhibitors and the visitors. Commenting on the quality of walk-ins, Sreedharan, Navin Housing said he was very satisfied with the quality of walkins which resulted in serious enquiries and potential sales. Several exhibitors managed to generate robust enquiries and a good number of bookings over the two-day event. Speaking to Chennai Realty, Prashanth Bashyam, Head – Sales & Marketing, Eyeball Media said, “The show only attracted a quality crowd of serious buyers as we had set a high entry fee of ` 100. It actually resulted in better enquiries and bookings for the participating developers. As per our initial follow ups with developers, the show has generated business worth over ` 90 crore.” Eyeball Media is planning to conduct two overseas property expos in the coming months, one in Dubai and another in Singapore. According to Sakthivel, MD, Eyeball Media, “We plan to conduct two ‘South India Property Fairs’ in Dubai and Singapore as it will result in a more focused attendance from visitors and better conversion for participating exhibitors.” Overall, Luxury Homes 2011 was a grand success and we hope the trend continues for the positive growth of real estate sector in Chennai.

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Chennai Realty August 2011 45


Top 100 Projects BHAGYALAKSHMI APARTMENTS

AISHWARYA

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Redhills, Madhavaram Road 2 and 3 BHK 28 885 - 1,315 sqft Ready to occupy ` 25 - 38 lakh Covered Car Parking & Power back-up Rajmeena Builders 044-26280880

Green peace Ajantha

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Anna Nagar 3 BHK 80 1,550 sqft November - 2012 ` 1 crore onwards CPA, MPH, SP, GYM & Power back up Green peace Constructions 044-2371 8166

KGS VRUDHI

Chennai - North

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Ambattur 1 and 2 BHK 10 428-979 sqft Ready to occupy ` 12 - 25 lakh Car Parking & Power back up Ganga Foundations Pvt Ltd 044-2834 5775

Golden King’s Court

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Green peace Millennium Central

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Korattur 3 BHK 40 1,070 - 1,550 sqft November - 2012 ` 55 - 75 lakh Power back up Green peace Constructions 044-2371 8166

- Anna Nagar - 3 BHK - 1 - 2,804 - 3,157 sqft - September 2011 - ` 2 - 3 crore - CP, SP & CPA - Golden Homes Pvt Ltd - 044-2621 3388

GRN High Gate

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Kilpauk 3 BHK 27 2,040, 2,160, 3,360 sqft March 2012 ` 2 - 4 crore 24-hr power back-up & KPA KGS Developers Ltd +91 93612 55110

Korattur 3 BHK 16 1,055 - 1,140 sqft December 2012 ` 64 - 66 lakhs Power back up & Rain Water Harvesting G R Natarajan & Co +91 99401 03800

Golden Opulance

Location - Poonamalee Road Type of Units - 2 and 3 BHK No. of Units - 815 Area - 711 - 2,061 sqft Completion - June 2013 Price Range - ` 21 lakh onwards Amenities - SP, CH, CPA, CCTV & MPH Builder - Golden Homes Pvt Ltd Contact - 044-2621 3388

JAINS SURABHI

Location - Kilpauk Type of Units - 3 BHK+Study No Of Units - 26 Area - 2,152-2,214 Completion - January 2013 Price Range - ` 2.75 crore onwards Amenities - SP & Gym Builder - Jain Housing & Construction Ltd Contact - +91 88707 01850

LUMBINI SQUARE

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Purasawalkam 3 and 4 BHK 435 2,250 - 6,000 + duplex and pent house Ready to occupy ` 2.25 crore CH, KPA, SP & Bank True Value Homes +91 98843 40003

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

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Top 100 Projects

Chennai - North

Location - Perambur Type of Units - 1, 2 and 3 BHK No. of Units - 1200 Area - 990 - 1,396 sqft Completion - December 2013 Price Range - ` 54 - 76 lakh Amenities - SP, Gym & MPH Builder - Arihant Foundations & Housing Ltd Contact - 044-4224 4444

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

RC LAURELS

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Madavaram 2 and 3 BHK 48 855 - 1,215 sqft Under construction ` 31 - 45 lakh Gym, MPH & Association Room Rajarathnam Construction (P) Ltd 044-2674 8888

THE METROZONE

Pushkar’s Brindavan Nest

ORCHID SPRINGSS

NORTH TOWN

Near Padi Metro Rail Station 1, 2, 2.5 and 3 BHK 2,123 692 - 2,244 sqft December 2012 ` 30 lakh - 1 crore 5 Star CH, Gym, SP, SF, Health Club & Coffee Shop Alliance Group 044-3045 1200

SANTHA TOWERS

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Korattur 2 BHK 6 784 - 1,155 December 2012 ` 28 lakh Power back up Pushkar Properties Pvt Ltd 044 42172500

THE AVENUES-ESPLANADE

Location - Parithipattu, Avadi Type of Units - 2, 2+ study 3 BHK No. of Units - 480 Area - 808 - 1,114 sqft Completion - December 2012 Price Range - ` 14 - 69 lakh Amenities - CH, SP & KPA Builder - Santha Build Tech India Pvt Ltd Contact - +91 99622 28090

Location - Tondiarpet Type of Units - 2 and 3 BHK No. of Units - 600 Area - 975 - 1,450 sqft Completion - Phase I - Completed Phase II - March 2013 Price Range - ` 28 to 42 lakh Amenities - CH, SP, KPA & Covered Car Park Builder - EMAAR MGF Contact - 044-6462 4444

Location - Anna Nagar Type of Units - 2, 3, 4 and 5 BHK Pent house No. of Units - 1,600 Area - 1,555 - 4,818 sqft Completion - November 2013 Price Range - ` 1 - 3 crore Amenities - SP, KPA, Gym, SF & Joggers Track Builder - OZONE Group Contact - 044-4225 3700

VGN PLATINA

Rajus Sapphire

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Kolathur 2 and 3 BHK 28 925 - 1,079 sqft Ready to occupy ` 31 - 45 lakh Gym & KPA, Rajus Flat Promoters Pvt. Ltd 044-4264 5830

THE ARCHWAY

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Ormes Road- Kilpauk 3 BHK 16 2,224 - 2,324 sqft December 2011 ` 2.85 crore 24-hr power back-up Jain Housing & Construction Ltd +91 88707 01850

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Ambattur 1, 2, 3 BHK and Villas 670 + 60 Villas 596 - 1,250 sqft July 2012 ` 15 to 32 lakh CH, SP, KPA, GAR & SF VGN Developers +91 96000 10044

- - - - - - - - -

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

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Chennai Realty August 2011 47


Top 100 Projects

- Adyar - 2 and 3 BHK - 24 - 1,308 - 2,062 sqft - June 2012 - ` 1.70 - 2.5 crore - SP, CH, MPH & GYM - Adroit Urban Developers - 044-2447 1539

ATRIUM

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Perumbakkam 1 and 2 BHK 40 630 - 1,114 sqft August 2012 ` 23 - 34 lakh KPA & STP Aks Housing Development Co Pvt Ltd +91 99406 51295

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- Sholinganallur - 1, 2, 3, 4 and 5 BHK - 4500 - 650 - 3,000 sqft - October 2011 - ` 14 - 88 lakh - Gym & Library - BSCPL INFRA - +91 90940 44492

Velachery 2.5 and 3 BHK 154 1,200 -1,550 sqft June 2012 ` 70 - 90 lakh KPA, COH & Terrace Jogging Track CHENNAI ICC 044-2441 4272

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

DECCAN KALAPATARU

BOLLINENI HILLSIDE

Perungudi 2, 2.5, 3, 3.5 BHK 80 976 - 1028 sqft December 2012 ` 45 lakh onwards CH & Covered Car ParkingUrban Tree Infrastructure Pvt Ltd 044-4000 0321

DOSHI ETOPIA-II

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

ATLANTIS

ANMOL ABHINANDHAN

AKS RADIANCE

Adroit- The Origin

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Chennai - Central

Location - Sholinganallur Type of Units - 2, 2.5 and 3 BHK No. of Units - 88 Area - 939 - 1,494 sqft Completion - April 2012 Price Range - ` 37 - 69 lakh Amenities - Gym, MPH, SF & Yoga Hall Builder - Deccan Estates Ltd Contact - +91 96772 09090

- Perungudi - Studio,1,2&3 BHK - 214 - 415-1,570 sqft - Ready to Occupy - ` 13-75 lakh - Gym, SP & COH - Doshi Housing - 044 4353 9150

DOSHI ORIANA

- - - - - - - - -

Nelson Manickam Road 1 , 2, 3 & 4BHK 42 726 to 2,023 Sq.Ft June 2012 ` 1.3 - 5 crore Gym, SP, GAR & Intercom RWD +91 98409 06668

DLF - GARDEN CITY

Location - Sholinganallur Type of Units - 2 and 3 BHK No. of Units - 3,000 Area - 1,170-1,938 sqft Completion - Phase I - June 2011 Phase II - Sep 2012 Price Range - ` 60 - 75 lakh Amenities - ATM, Health Care, Salon & Shopping Centre Builder - DLF Contact - +91 98840 60955

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Perungudi (OMR) 2 BHK 60 930 - 950 sqft June 2012 ` 45 - 52 lakh KPA, SF, Gym & Party Hall Doshi Housing 044-4353 9150

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

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Top 100 Projects

Chennai - Central JAINS PEBBLE BROOK

Location - Thoraipakkam Type of Units - 1, 2 and 3 BHK No. of Units - 620 Area - 531 - 1,556 sqft Completion - January 2013 Price Range - ` 25 - 75 lakh Amenities - SP, GYM, CPA & HC Builder - Jain Housing & Construction Ltd Contact - +91 88707 01850

Kamarajar Nagar Thiruvanmiyur

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Land MarvelMandaveli Street

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- - - - - - - - -

Mandaveli 2 BHK 12 1,020 - 1,045 sqft Ready to occupy ` 1.2 - 1.9 crore Car Parking Land Marvel 044-2446 0600

TVH SVASTI

Thiruvanmiyur 3 BHK 12 1,073 -1,892 sqft October 2012 ` 1 - 1.7 crore Power back up & Rain Water Harvesting G R Natarajan & Co +91 99401 03800

KGEYES ETERNITY

Location - Kalakshetra Colony, Besant Nagar Type of Units - 2 and 3 BHK No. of Units - 86 Area - 1,170 -1,755 sqft Completion - June 2012 Price Range - ` 1.65 - 3 crore Amenities - SP, KPA, Gym & Reading Room Builder - KGEYES Developers Contact - 044 -2431 3939

Land MarvelSt. Mary’s Road

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- St. Mary’s Road - 2 and 3 BHK - 16 - 950 - 1,500 sqft - Ready to occupy - ` 1.2 - 1.9 crore - Car Parking - Land Marvel - 044-2446 0600

LOTUS MANOR

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location - Thoraipakkam Type of Units - 2 and 3 BHK No. of Units - 136 Area - 1,100 -1,600 sqft Completion - Phase I - Dec 2011 Phase II - Dec 2012 Price Range - ` 54 lakh onwards Amenities - SP, KPA, COH & CH Builder - True Value Homes Contact - +91 98841 77770

Lakshmi Homes

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- Adyar - 2 BHK - 12 - 1,400 sqft - Ready to occupy - ` 1.7 crore onwards - Car Parking - Sri Lakshmi Homes - 044-2445 3322

MANDARINA

Thiruvanmiyur 3 BHK 60 1,585 - 1,695 sqft June 2013 ` 1.67 - 1.78 crore CH, KPA & Gym Acchuthan Builders & Co +91 98843 96414

36 CARAT

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Kotturpuram 2, 3 & 4 BHK 64 1,093 - 2,774 sqft June 13 ` 1 - 3 crore Gym, SP & Terrace Party Area Appasamy Real Estates +91 99620 19149

Close to Dasaprakash, PH Road 3 and 4 BHK 36 2,800 sqft August 2012 ` 4 crore CH, 24-hr security & Party Hall Akshaya Homes +91 96772 98811

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

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Chennai Realty August 2011 49


Top 100 Projects AMBER

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

ISHA YARA

HIRCO PALACE GARDENS

- - - - - - - - -

Thriveni Nagar 3 and 4 BHK 1,800 863 - 2,800 sqft December 2013 ` 31 lakh to 1 crore RES & CH Hiranandani 044-6711 3111

Jayaram Gardens

Tambaram East Villas 78 1,500 sqft April 2012 ` 70 lakh Car Parking & 24x7 Security Anand & Venkatesh 044-2432 7677

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Medavakkam 2 and 3 BHK 464 801-1,450 sqft Ready to occupy ` 25 lakh onwards KPA, MUH, Commercial Hall & Gym Isha Homes 044-2440 4757

DABC-ORCHID

ARIHANT HEIRLOOM

Anand & Venkatesh

Location - West Jones Road, Saidapet Type of Units - 2 and 3 BHK No. of Units - 130 Area - 1,010-1,961 sqft Completion - December 2011 Price Range - ` 65 lakh to 1 crore Amenities - Gym & KPA Builder - Indus Cityscapes Construction Pvt Ltd Contact - +91 99620 00222

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Chennai - South

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Off-IT Corridor, Thazhambur 2 and 3 BHK 256 1,047-1,600 sqft Ready to occupy ` 55 lakh CH, SP, DS & Gym Arihant Foundations & Housing Ltd 044-4224 4444

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

JAINS ALPINE MEADOWS

Location - Thiruneermalai, Pallavaram Type of Units - 2 and 3 BHK No. of Units - 936 Area - 927 - 1,508 sqft Completion - January 2012 Price Range - ` 34 - 58 lakh Amenities - SP, KPA & Power back-up Builder - Jain Housing & Construction Ltd Contact - +91 88707 01850

Manapakkam 1, 2 and 3 BHK 213 561 - 1,489 sqft June 2012 ` 32 - 87 lakh CCP, GYM, CPA, ATM & MPH Navins Housing 044-4218 1919

JEY YES CELESTYN

- - - - - - - - -

Polacherry 2 and 3 BHK 248 1,400 sqft March 2013 ` 37 lakh CH,GAR,SF,SM & Gym DABC 044-4238 2271

JAMALS LUXOR

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- - - - - - - - -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Kattupakkam 2 and 3 BHK 130 950 - 1,375 sqft March 2013 ` 25 lakh onwards Gym, KPA, SF, & RO Plant Jamals Enterprises +91 98407 87792

Perumbakkam 2 and 3 BHK 50 836 - 1,289 sqft August 2012 ` 28 - 43 lakh CPA, STP, MPH, GYM & CH Jey Yes Homes P Ltd 044-426 64763

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

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Top 100 Projects

Chennai - South KEH Narinyas

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Lakeshore

Pallavaram 1, 2, and 3 BHK 192 496 - 1,203 sqft June 2013 ` 18 - 55 lakh CPA, STP, SP, MPH & CH KE Housing Private Limited +91 91769 87705

Pallavaram Kunrathur Road 1.5, 2 and 3 BHK 264 503 - 1,658 sqft December 2012 ` 14 - 40 lakh KPA, DS & Gym P dot G Constructions Pvt. Ltd +91 95001 23395

SPRINGFIELD

Kilkattalai 2 and 3 BHK 66 1,209 - 1,721 sqft December 2011 ` 57 - 82 lakh CPA, STP, MPH, GYM & CH Bhaggyam Constructions +91 87544 44403

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- - - - - - - - -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Pallikaranai 1, 2, 2+Study and 3BHK 140 688 - 1,400 sqft December 2012 ` 28 - 58 lakh CH, SP & KPA KGS Developers Ltd +91 93612 55110

Medavakkam 1, 2 and 3 BHK 280 560 - 1,353 sqft February 2013 ` 18 - 45 lakh CPA, STP & Gym Navins Housing & Properties Pvt Ltd +91 98408 28811

Chrompet 1, 1.5, 2, and 3 BHK 272 510 - 1,180 sqft May 2013 ` 25 lakh onwards KPA, GAR, Gym & Joggers Track Mantri Developers Ltd 044-2747 4103

Royal Castle

prime Rose-KGS

P dot G Express

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

MANTRI NAVARATNA

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Park City

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- Padappai - 2 and 3 BHK - 65 - 1,000 - 1,655 sqft - Ready to occupy - ` 30 - 48 lakh - SP, GYM, CPA, CH & CP - Engineers Estates - +91 97909 73661

Sidharth Dakshin

- Chromepet - 1,2,3 BHK & Penthouse - 1239 - 363-2100 sqft - September 2013 - ` 8.5 - 50 lakh - SM, SCH & MPH - Amarprakash - 044-4000 5000

THE GRAND RESIDENCY

Location - GST Road- Urapakkam Type of Units - 2, 2.5 and 3 BHK No. of Units - 200 Area - 801 - 1,000 sqft Completion - December 2012 Price Range - ` 24 - 30 lakh Amenities - CPA, STP, SP, MPH, GYM & CH Builder - Sidharth Foundations & Housing Ltd Contact - +91 87544 81852

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- Velachery - 3 & 4 BHK - 39 - 1,850 - 2,067 sqft - August 2011 - ` 22 - 56 lakh - SP, GYM, CPA, CH & CP - Srijan Realty Ltd - +91 98300 96135

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

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Chennai Realty August 2011 51


Top 100 Projects ANANDAM’S PLATINUM

Location - Iyyappanthangal Type of Units - 1, 2 and 3 BHK / duplex, twin & independent houses No. of Units - 30 Area - 523 - 1,575 sqft Completion - September 2011 Price Range - ` 20 lakh onwards Amenities - GAR & Commercial Hall Builder - Anandam Foundations Contact - +91 98408 34403

Lavender Park

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Porur 2 BHK 28 960 sqft December 2012 ` 44 lakh CPA & MPH Green Peace Constructions 044-2371 8166

PRANAV’S SRUTHI

Chennai - West JAMALS GRANDEUR

JAINS WESTMINSTER

Location - Arunachalam Road, Saligramam Type of Units - 1, 2 and 3 BHK No. of Units - 620 Area - 564 -1,961 sqft Completion - January 2014 Price Range - ` 38 lakh - 1.6 crore Amenities - 24-hr Power backup & Park Builder - Jain Housing & Construction Ltd Contact - +91 88707 01850

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

NATWEST EUPHORIA

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Maduravoyal 2 and 3 BHK 24 1,105 - 1,560 sqft December 2011 ` 53 - 73 lakh Indoor/Outdoor Play, KPA & Video Intercom, Natwest Constructions 044-2434 0716

Velappanchavadi 2 and 3 BHK 96 940 - 1,415 sqft December 2011 ` 26 lakh KPA, Open Air Theatre & Gym Jamals Enterprises +91 98407 87792

KG SIGNATURE CITY

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

OPULENCE VILLE

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Mogappair 2 and 3 BHK 48 870 - 1,400 sqft November 2011 ` 36 - 59 lakh Gym & KPA Pranav Foundations Pvt Ltd +91 98412 75752

- - - - - - - - -

Porur 3 BHK villas 100 1,340 sqft Ready to Occupy ` 54 lakh Covered Car Parking Rajeswari F oundations +91 98409 12528

Primex - Verterra

Mogappair 2 and 3 BHK 1,500 925 - 1,400 sqft A and B Block - 2013 C and D Block - 2012 ` 49 - 61 lakh CH, SF, KPA, SP & GAR KG Foundations 044-2499 2042

PANACHE

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

PH Road, Arumbakkam 2 and 3 BHK 70 1,184 - 1,826 sqft December 2012 ` 1 - 1.5 crore Power backup & KPA Arihant Foundations & Housing Ltd 044-4224 4444

Location - Mugalivakkam-Porur Type of Units - 1, 2 and 3 BHK No. of Units - 324 Area - 575 - 1,233 sqft Completion - December 2012 Price Range - ` 27 - 55 lakh Amenities - SP, GYM, MPH & CPA Builder - Primex Infrastructure Pvt Ltd Contact - +91 89399 11100

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

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Top 100 Projects

Chennai - West RC ROYAL GRANDE

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Thirumullaivoyal 2 and 3 BHK 176 870 - 1,145 sqft January 2012 ` 30 - 35 lakh Gym & Library Rajarathnam Construction (P) Ltd 044-2674 8888

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

VIJAYA

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- - - - - - - - -

Mogappair 1 and 2 BHK 32 1,370-1,385 sqft Ready to occupy ` 68 lakh onwards Covered Car Parking Praveen Housing 044 2431 0099

XS Real -la-celeste

- Kilpauk - 2, 2.5 and 3 BHK - 20 - 1,215 - 1,555 sqft - December 2011 - ` 1.25 - 1.55 crore - Gym & Terrace Party Area - Sreerosh Properties - 044-4208 0520

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Vinoth Ventura

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- - - - - - - - -

Porur 2 and 3 BHK 30 825 - 1,145 sqft December 2011 ` 42-56 lakh Car Parking Vinoth Builder +91 98409 03355

VGN KRONA

VGN IMPERIA

SREEROSH SILVERSTONE

- - - - - - - - -

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Velappanchavadi 1, 2 and 3 BHK 600 596 - 1,400 sqft December 2013 ` 25 - 56 lakh CH,SP,KPA,Gym & MPH VGN Homes +91 90030 41063

Location - Mugalivakkam-Porur Type of Units - 3 BHK Bungalow Apartment No. of Units - 20 Area - 1,795 - 1,893 sqft Completion - December 2012 Price Range - ` 60 - 73 lakh Amenities - SP, GYM, CPA, CH & CP Builder - XS Real Contact - 044-2235 0998

- - - - - - - - -

Mogapair 2 and 3 BHK 97 1,205 - 1,365 sqft Ready to Occupy ` 59-66 lakh Car Parking Vinoth Builder +91 98409 03355

XS Real -Vila Bali

Porur 1, 2 and 3 BHK 414 603 - 1,638sqft July 2013 ` 22 - 56 lakh CH, SP, Gym, MPH & CPA VGN Developers +91 96000 10044

Vinoth Vishakha

Vinoth Viruksha

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- - - - - - - -

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- - - - - - - - -

Mogapair West 2 and 3 BHK 35 850-1220 sqft December 2011 ` 41-60 lakh Covered Car Parking Vinoth Builder +91 98409 03355

- Porur - Vilaments - 18 - 2,000 sqft - December 2011 - ` 1.2 - 3 crore - SP, GYM, CPA, CH & CP - XS Real - 044-2235 0998

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

www.chennairealty.biz

Chennai Realty August 2011 53


Top 100 Projects CHENNAI PATTINAM

AMANYA

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Nellikuppam-Thiruporur, Guduvanchery Road 1, 2 and 3 BHK 1,008 606-1,139 sqft Phase I December 2012, Phase II December 2013 ` 12 - 22 lakh CH & SP Asvini Foundations +91 98416 33669

Location - Thiruporur - Off OMR Type of Units - 2 and 3 BHK No. of Units - 2,608 Area - 1,075 - 2,250 sqft Completion - July 2012 Price Range - ` 25 - 55 lakh Amenities - SM, SP, CH & SCH (DAV) Builder - Ceedeeyes Infrastructure Development Pvt.Ltd Contact - 044-2441 3368

Iris Court

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Chennai - Outer ESTANCIA

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

PURVA WINDERMERE

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Padur, OMR 2 and 3 BHK 936 1,176 -1,755 sqft December 2011 ` 37 - 58 lakh CH, Gym, SP, KPA & GAR Jain Housing & Construction Ltd +91 88707 01850

Pallikaranai 2, 3 and 4 BHK 756 1,243 - 2,790 sqft March 2014 ` 40 - 90 lakh Gym, MH, SP & RES Puravankara Projects Limited +91 95000 62651

Guduvanchery 3 BHK 391 1,510 - 1,860 sqft Phase I Ready to occupy Phase II 2012 ` 82 lakh to 1 crore Club House with 101 amenities, 4 Star Hotel & COH L&T Arun Excello Realty Pvt Ltd +91 95660 99558

Location - Opp Sipcot IT Park, Egattur Village, Type of Units - 2, 3, 4 BHK No. of Units - 6,000 Area - 1,295 - 3,487 Completion - Ready to Occupy Price Range - ` 61 lakh onwards Amenities - All Amenities are available Builder - Hiranandani Contact - +91 99402 45555

OPALINE

JAINS INSELI PARk

- Maraimalai Nagar - 2 and 3 BHK - 746 - 986 - 1,467 sqft - June 2013 - ` 30 - 40 lakh - SF, KPA & CH - Mahindra Lifespaces - 044-2819 0800

HIRANANDANI UPSCALE

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- - - - - - - - -

OURANYA BAY

Navallur, OMR 1, 2, 3 and 4 BHK 1,200 (approx) 564 - 3,600 sqft August 2011 ` 22 to 69 lakh Club Opal Olympia Infratech Pvt Ltd +91 90940 20993

REAL VALUE NEEL KAMAL

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Padur, OMR 2 and 3 BHK 842 1,210 , 1,710 & 2,084 sqft Phase I - 2011 Phase II - 2012 Phase III - 2013 ` 50 lakh onwards CH, SP, Gym & SCH True Value Homes +91 91769 23000

Siruseri, OMR 1, 2 and 3 BHK 559 510 - 1,055 sqft Under Construction ` 15 - 31 lakh Gym, DS, MPH & Joggers Track Real Value Promoters Pvt Ltd 044-6634 3536

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

54

Chennai Realty August 2011

www.chennairealty.biz


Top 100 Projects

Chennai - Outer SABARI’S SERENITY

SPRING MEADOWS

Location - Siruseri, OMR Type of Units - 1, 2 and 3 BHK No. of Units - 864 Area - 580 - 1,027 sqft Completion - Phase I December 2011, Phase II December 2012 Price Range - ` 11 - 26 lakh Amenities - SP, Gym, MPH & KPA Builder - Sabari Realtors Pvt Ltd Contact - 044-2461 7775

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

TEMPLE GREEN

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Oragadam 1, 2 and 3 BHK 658 575 - 1,280 sqft December 2012 ` 32 lakh GAR, Gym, KPA, ATM, DS & SP Arun Excello 044-2233 2288

XS Real -Siena Hellos City

Thalambur - Off OMR 2 and 3 BHK 192 824 -1,105 sqft April 2012 ` 25 - 36 lakh CP, SP & CH Jain Housing Construction Ltd +91 88707 01850

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

THE BELVEDERE

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

- Urapakkam - 2 and 3 BHK - 260 - 1,102 sqft - September 2011 - ` 35 lakh - SP, Gym & KPA - Akshaya Homes - +91 96772 98811

SWARNABHOOMI

SUNNY SIDE

- Siruseri,Inside IT Park - 2 & 3 BHK - 630 - 988 - 1,309 sqft - March 2013 - ` 35 - 45 lakh - SP, CH & KPA - KGS Developers - +91 93612 55110

THE ROSEDALE

Location - Padur, OMR Type of Units - 2 and 3 BHK No. of Units - Phase I - 372 Area - 800 - 1,600 sqft Completion - December 2011 Price Range - ` 26 - 52 lakh Amenities - CH, SP, Gym, KPA, COH & Rose Garden Builder - Eta Property Developers Pvt Ltd Contact - 044-3911 3900

- Padur, OMR - 3 BHK - 140 - 1,571-1,934 sqft - December 2012 - ` 60-73 lakh - SP,GYM,CPA,CH & CP - XS Real - 044-2235 0998

XL Woods

Location - ECR Type of Units - 2, 3, 4 BHK and Pent House No. of Units - 1,200 Area - 638 - 3,040 sqft Completion - Ready to occupy Price Range - ` 11 to 68 lakh Amenities - ATM, SP, Gym, DS, COH, KPA & SF Builder - Marg Properties Contact - +91 95000 76844

Unitech-UniworldCity

Location - Type of Units - No. of Units - Area - Completion - Price Range - Amenities - Builder - Contact -

Location Type of Units No. of Units Area Completion Price Range Amenities Builder Contact

(Vandalur – Kelambakkam Road) Unihomes I / Unihomes II 1,024 / 560 700 & 715 / 997, 999 and 1,011 sqft May 2012 ` 17 - 25 lakh Gym, SCH, ATM & Medical Facility Unitech +91 95000 59595

- Sriperumpudur - 1, 2 and 3 BHK - 176 - 600 - 1300 sqft - December 2012 - ` 15-31 lakh - SP, GYM, CPA, CH & CP - XL Estates - +91 96001 11885

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

www.chennairealty.biz

Chennai Realty August 2011 55


Residential Plots Auro Space

Anand & Venkatesh

Developer - Location - Area - Rate - Amenities - Contact - Website -

Anand & Venkatesh Tambaram East 1068-2687 ` 1650/sqft Gated Community & Avenue trees 044-2432 7677 www.anand-venkatesh.com

Developer Location Area sqft Rate Amenities Contact Website

Mahidhara

Developer Location Area Rate Amenities Contact Website

- - - - - - -

- - - - - - -

Aashirwad Elite Realtors Medavakkam 1199-3378 ` 850/sqft Gated community & KPA 044-4553 5666 www.aashirwadeliterealtor.com

MCB GREENEST

Mahidhara Projects Poonamallee 800-3000 ` 699/sqft CH,SP,Market Yard & MPH 044-4551 2222 www.mahidharaprojects.com

Sreeja Developers

Developer - MCB Developers Location - Sriperumbudur Area sqft - 1000 - 3000 Rate - ` 325/sqft Amenities - CPA,Park, 24/7 Sec & Avenue Trees Contact - +91 96770 79999 Website - www.mcbdevelopers.com

Developer - Sreeja Developers Location - Sunguvarchatram Area - 1500-3500 Rate - ` 345/sqft Amenities - Gated Community & Avenue Trees Contact - 044-4255 5538 Website - www.sreejadevelopers.com

BLOSSOM AVENUE

BIRCH COURT

Developer Location Area sqft Rate Amenities Contact Website

- - - - - - -

Unitech Nallambakkam 1800 - 4724 ` 30.5 lakh Club House, SP & CPA +91 95000 59595 www.unitechgroup.com

Developer Location Area sqft Rate Amenities Contact Website

Nahar Foundations

Mahindra world City Mahindra world City 1710 - 3615 sqft ` 1,699/sqft Int.School & Food Court +91 98403 36545 www.mahindraworldcity.com

Royal Residency

Developer - Nahar Foundations Location - ECR Area - 2000-6000 Rate - ` 1050/sqft Amenities - Block Top Road & 24/7 Security Contact - +91 87544 83145 Website - www.nahars.com

SRI SATHYA SAI NAGAR

- - - - - - -

Developer - Manju Foundation Location - ECR Area sqft - 2100 - 6992 sqft Rate - ` 2,699/sqft Amenities - Gated Community, CH,SP & Gym Contact - 044-4290 6607 Website - www.manjufoundation.com

Developer Location Area sqft Rate Amenities Contact Website

- - - - - - -

Wisdom Properties Oragadam 217 -2380 ` 425-1,200/sqft Gated Community +91 99629 28725 www.wisdomproperties.com

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

56

Chennai Realty August 2011

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Commercial Projects GUINDY

Greams Road

Project - Plate Area sqft - Amenities - Status - Builder - Contact -

Prestige Palladium 30,000 X 14 ( Floors) Common Power back-up, G+12 & Air Conditioners July 2011 Prestige Estates Projects Ltd 044-28154088

Project - Plate Area sqft - Amenities - Status - Builder - Contact -

koyambedu

KAZIPATTUR, OMR

Project - Plate Area sqft - Amenities - Status - Builder - Contact -

HQ 20, 337 x 5 (floors) Common 3 elevators, DG back-up & Protected Car Security Ready to occupy Akshaya Homes +91 9840858811

PERUNGUDI, OMR

Olympia Tecnology Park 150, 000 sqft Common car parking, 100 percent power back-up & security Ready to occupy Khivraj Tech Park Pvt. Ltd 044-43563773

Project - Ten Square Shopping Mall Plate Area sqft - 25000 X 4 (Floors) Amenities - Food Court, Gaming Zones & Parking Status - December 2011 Builder - Ten Square Realty Contact - 044-4359 6662

KANDANCHAVADI, OMR

Project - Plate Area sqft - Amenities - Status - Builder - Contact -

TVH Agnitio Park 40,000 - 80,000 x 8 (floors) Common 1,040 Car Parking, Health Club, ATM & Landscaped Roof Garden with dining area Ready to occupy True Value Homes +91 91769 42000

NELSON MANICKAM ROAD

Project - Plate Area sqft - Amenities - Status - Builder - Contact -

Project - Matrix Tower Plate Area sqft - 23, 800 x 6 (floors) Common Amenities - 100% Power back-up & 1,000 sqft Individual Car Parking Status - Ready to occupy Builder - SSPDL Contact - +91 99400 42608

Navin’s Presidium 4,000 - 5,000 x 11 (floors) Automated high-speed lifts Ready to occupy Navin Housing & Properties (P) Ltd 044-4320 7777

TEYNAMPET

KARAPAKKAM, OMR

Project - Plate Area sqft - Amenities - Status - Builder - Contact -

Melaram Towers 186, 478 x 8 (floors) Common Power back-up July 2011 Vishranthi Homes Pvt. Ltd 044-24314515

NELSON MANICKAM ROAD

Project - Plate Area sqft - Amenities - Status - Builder - Contact -

Project - Plate Area sqft - Amenities - Status - Builder - Contact -

Lalah Towers 40,000 x 12 (Floors) Common DG back-up, Car Parking, Lift March 2012 Ramaniyam Real Estate Ltd +91 98412 71871

Doshi Raj Towers 6, 910 x 3 (floors) Common Generator, Car parking, Power back-up, Security Ready To occupy Doshi Housing Ltd 044-4353 9160

CH - Club House

Gym - Gymnasium

Res - Restaurant

BS - Beauty Salon

SCH - School

SP - Swimming pool

KPA - Kids Play Area

HOT - Hotel

SM - Super Market

ATM - Automatic Teller Machine

SF - Sports Facility

GAR - Garden

COH - Community Hall

DS - Departmental Store

MPH - Multipurpose Hall

www.chennairealty.biz

Chennai Realty August 2011 57


Cityscape Residential Rate Watch Locations

Capital Value 2 BHK (cost / sqft) in `

Rental Value 2 BHK of 1,000 sqft (cost / month) in `

Capital Value 1 Ground of 2,400 sqft (in lakh `)

BUDGET

PREMIUM

BUDGET

PREMIUM

AVERAGE

8,000 8,000 8,000 9,000 7,000 8,000 7,000 NA 8,000 7,000 6,000 4,500 3,800 9,800 7,000 7,000 3,500 9,000 3,500 7,000

14,000 17,000 18,000 15,000 10,000 16,000 18,000 26,000 16,000 14,000 15,000 6,500 4,500 16,000 14,000 12,000 4,000 14,000 4,500 13,800

15,000 16,000 16,000 15,000 10,000 14,000 14,000 30,000 10,000 8,000 12,000 9,000 8,000 16,000 14,000 9,000 8,000 12,000 7,000 8,000

24,000 26,000 30,000 21,000 15,000 24,000 26,000 50,000 18,000 14,000 20,000 18,000 12,000 28,000 20,000 21,000 16,000 27,000 14,000 16,000

250 - 350 250 - 350 300 - 400 250 - 350 250 - 275 300 - 400 400 - 500 800 - 850 300 - 375 250 - 300 150 - 200 80 - 120 70 - 120 500 - 600 250 - 300 200 - 250 65 - 75 225 - 300 70 - 90 200 - 250

4,000 8,000 9,000 7,500 2,850 8,000 6,500 8,000 4,000 3,800 4,500 4,250 3,500 9,000 2,800 4,500 9,000 7,000 6,000

4,500 10,000 14,000 10,000 3,500 11,000 7,500 14,000 4,500 4,200 6,000 5,500 4,000 12,000 3,600 5,000 12,000 10,000 7,000

8,000 7,000 16,000 12,000 5,500 7,000 6,500 16,000 7,000 6,500 8,000 7,000 6,500 12,000 6,000 8,000 12,000 6,500 6,000

13,000 16,000 26,000 18,000 8,000 14,000 16,000 25,000 10,000 8,000 16,000 15,000 8,000 24,000 8,000 12,000 18,000 16,000 15,000

80 - 100 200 - 250 250 - 350 120 - 150 65 - 70 225 - 300 150 - 200 250 - 300 70 - 80 65 - 70 90 - 120 80 - 100 65 - 70 250 - 300 60 - 70 80 - 90 220 - 300 150 - 180 90 - 110

5,500 5,000 7,500 3,800 7,000 8,000 3,500 3,500 3,000 3,600 4,000 9,000 7,000 3,100 3,500 3,200 9,000 8,000 5,000 6,000

7,000 6,500 12,500 4,700 10,000 12,000 4,500 4,300 3,800 4,500 5,000 14,000 8,500 4,200 4,500 4,500 15,000 12,000 6,500 7,500

8,000 6,500 9,000 7,500 7,000 8,000 7,000 7,000 6,000 9,000 8,000 15,000 8,000 5,500 7,500 7,000 15,000 9,000 7,500 8,000

14,000 9,000 18,000 16,000 20,000 20,000 15,000 12,000 9,000 18,000 12,000 25,000 17,000 9,000 15,000 14,000 30,000 23,000 16,000 20,000

85 - 95 90 - 110 150 - 200 80 - 100 150 - 180 225 - 250 60 - 70 60 - 70 55 - 60 120 - 150 100 - 120 250 - 300 160 - 200 80 - 90 80 - 110 80 - 100 275 - 400 250 - 350 180 - 220 150 - 200

CENTRAL Abiramapuram Adyar Alwarpet Besant Nagar Egmore Gopalapuram Kotturpuram Boat Club Mylapore Mandaveli Neelankarai Nandambakkam Perungudi R A Puram Royapettah Santhome Sholinganallur Thiruvanmiyur Thuraipakkam Triplicane

North Ambattur Aminjikarai Anna Nagar Anna Nagar West Extn Avadi Chetpet Ayanavaram Kilpauk Kolathur Madhavaram Mogappair East Mogappair West Nolambur Purasawalkam Poonamallee Perambur Shenoy Nagar Vepery Villivakkam

South Alandur Adambakkam Ashok Nagar Chromepet Ekkaduthangal Guindy Medavakkam Madipakkam Mugalivakkam Manapakkam Nanganallur Nandanam Saidapet Selaiyur Tambaram East Tambaram West Teynampet T Nagar Velacheri Kottivakkam

58

Chennai Realty August 2011

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Cityscape Residential Rate Watch Locations

Capital Value 2 BHK (cost / sqft) in `

Rental Value 2 BHK of 1,000 sqft (cost / month) in `

Capital Value 1 Ground of 2,400 sqft (in lakh `)

BUDGET

PREMIUM

BUDGET

PREMIUM

AVERAGE

4,000 7,000 7,000 3,500 6,500 7,000 7,000 4,500 10,000 3,700 4,200 6,000 8,000 5,500 5,000

5,000 8,000 9,000 4,000 8,000 10,000 8,500 5,400 15,000 4,200 5,000 7,000 12,000 6,500 6,000

8,000 8,000 8,000 9,000 8,000 7,000 8,000 6,500 16,000 5,000 6,000 9,000 9,000 7,500 7,500

16,000 17,000 17,000 18,000 17,000 19,000 20,000 14,000 30,000 8,000 10,000 18,000 20,000 16,000 17,000

110 - 130 180 - 225 180 - 225 200 - 250 180 - 230 200 - 250 130 - 150 70 - 80 300 - 350 55 - 60 70 - 85 110 - 150 200 - 270 150 - 170 120 - 130

1,800 2,700 2,100 3,000 2,700 2,500 2,200 2,500 2,000 2,200

2,500 3,300 2,700 4,000 3,200 3,000 2,500 3,600 2,500 3,000

4,000 5,000 5,000 8,000 7,000 6,500 5,000 5,000 4,500 4,000

7,000 8,000 7,500 16,000 15,000 14,000 7,500 8,500 6,500 7,000

10 to 12 10 to 14 12 to 18 45 to 50 35 to 40 30 to 35 12 to 18 20 to 25 15 to 20 10 to 14

West Alwarthiru Nagar Arumbakkam Choolaimedu Iyyappanthangal K K Nagar Kodambakkam Koyambedu Maduravoyal Nungambakkam Porur Ramapuram Saligramam Vadapalani Valasarawalkam Virugambakkam

Outer Puzhal Pammal Tiruvallur Siruseri Padur Kelambakkam Sriperumbudur Vandalur Singaperumal Koil Oragadam

Home Loan Reckoner Loan Amount Below Rs.25 Lacs BANK State Bank of India Allahabad Bank Bank of India Andhra Bank Union Bank of India Indian Overseas Bank Vijaya Bank Central Bank of India Axis Bank Canara Bank Corporation Bank Bank of Baroda Indian Bank Oriental Bank of Commerce Punjab National Bank ICICI HDFC IDBI HSBC South India Bank LIC HFL Sundaram Home Loans

www.chennairealty.biz

Loan Amount Above Rs.25 Lacs

No. of Years

No. of Years

5

10

15

20

5

10

15

20

10.50 10.50 10.50 10.75 10.50 10.25 10.50 10.50 10.75 10.75 10.50 10.75 10.50 10.50 10.50 10.25 10.25 10.25 10.75 13.65 10.15

10.50 11.00 10.50 10.75 10.75 10.50 10.75 10.50 10.75 10.75 10.75 11.00 10.75 10.75 10.75 10.25 10.25 10.25 10.75 13.80 10.15

10.50 11.50 10.75 11.75 10.75 10.75 11.00 10.50 10.75 11.00 11.00 11.00 11.00 11.00 11.00 10.25 10.25 10.25 10.75 13.80 10.15

10.50 11.75 10.75 11.75 11.00 10.75 11.25 10.50 10.75 11.25 11.00 11.25 11.25 11.00 11.00 10.25 10.25 10.25 10.75 13.80 10.15

10.75 11.25 10.75 12.50 11.25 10.50 11.25 11.50 11.00 11.25 10.75 11.50 10.75 11.00 11.25 10.50 10.50 11.00 11.75 14.15 10.40

10.75 11.75 11.00 12.50 11.50 10.75 11.75 11.75 11.00 11.50 11.00 11.75 11.00 11.25 11.50 10.50 10.50 11.00 11.75 14.40 10.40

10.75 12.00 11.25 12.50 11.50 10.75 12.00 12.50 11.00 11.50 11.25 11.75 11.25 11.75 11.75 10.50 10.50 11.00 11.75 14.40 10.40

10.75 12.50 11.50 12.50 11.75 11.00 12.50 12.50 11.00 12.00 11.25 12.00 11.50 11.75 11.75 10.50 10.50 11.00 11.75 14.40 10.40

10.45

10.45

10.45

10.45

10.70

10.70

10.70

10.70

Chennai Realty August 2011 59


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Cityscape

Commercial Rate Watch Sub Markets

Average Rent in JUNE 2011 (` / sqft per month)

Average Rent in juLY 2011 (` / sqft per month)

70 - 100 55 - 70

70 - 120 60 - 80

55 - 65 45 - 50

55 - 65 45 - 50

CBD (Anna Salai, Nungambakkam, RK Salai, T Nagar, Egmore, Alwarpet) Grade A Grade B Off CBD (Guindy, Kiplauk, Taramani, Adyar, Anna Nagar) Grade A Grade B Suburban Business District (Velachery, Perungudi, Mount Poonamallee Road) Grade A Grade B Peripheral Business District (Perungalathur, Sholinganallur, Siruseri, Ambattur, GST Road) Grade A Grade B

40 - 50 30 - 40

30 - 40 25 - 35

40 - 50 30 - 40

30 - 40 25 - 35

Construction Material Price Index * Commodity CEMENT

Unit Measure

AVERAGE RATE IN JULY 2011

Per 50 Kg Bag

` 295

STEEL

Non Isi 6mm / Ton

` 40,000

STEEL

Tmt 8mm Dia / Ton

` 41,900

STEEL

10-25 Mm Dia / Ton

` 40,700

STEEL

Rms / Ton

` 45,000

STEEL

Stirrups / Ton

` 46,000

STEEL

Vsp/Sail 10mm Dia / Ton

` 45,250

1 No.

` 3.50

Cubic Feet

` 45

BRICKS RIVER SAND FLY ASH BLUE METAL BLUE METAL

Per Ton (Ennore)

` 120

20mm / Cubic Feet

` 26 to ` 28

40mm / Cubic Feet

` 24

0 – 2 Mm / Cubic Feet

` 20

BITUMEN

Grade 80/100

` 36,170

BITUMEN

QUARRY DUST

Grade 60/70

` 37,300

MASON

Per Day

` 450 to ` 550

MEN

Per Day

` 300 to ` 350

WOMEN

Per Day

` 200 to ` 250

PAINTER/PLUMBER

Per Day

` 400 to ` 450

CARPENTER

Per Day

` 400 to ` 500

60

Chennai 2011 ChennaiRealty Realty July August 2011

Chennai Realty Monthly Real Estate Magazine

Knowledge is Power Term 6 months (6 issues) 1 Year (12 issues) 2 Years (24 issues) 3 Years (36 issues)

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Contact: Keerthana +91 8754489129 subscription@chennairealty.biz

Albert Einsten

“Wisdom is not a product of schooling but of the lifelong attempt to acquire it” www.chennairealty.biz


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Carpet Unitex Carpet Contact: 044-24729536 Ashwin Carpets Contact: 044-24983110

Granite & Marble Palani Marbles & Granites Contact: 044-23782429 Goyal Granite & Marbles Contact: 044-65184116

Water Amaravathi Water Suppliers Contact: +91 9840466606 Babu Water Suppliers Contact: 044-26265266

Roofing Sheets Saro Steel Contact: 044-25354333 Roofing House Contact: 044-26691408

Concrete Blocks Aeon's Construction Products Contact: 91 44 42172400 Balaji Concrete Products Contact: 044-42020911

Curtains Curtains by Rashtogi Contact: 044-28151431 Indroyal Curtains Contact: 044-28268966

Flooring - Wooden/Tiles Aashi Flooring & Decors Contact: 044-24983110 Wintek Floor & Decors Contact: 044-24732887

Children Play Equipment Dynamic Marketing Contact: 044-26285447 Habicco Sports Contact: 044-28544072

Plywood & Veneers K B Aluppy Contact : 044-28474277 Pandian Timber depot Contact: 044-28445749

Ready Mix Concrete ACC Ready Mix Concrete Contact : 044-26193456 RDC Ready Mix Concrete Contact : 044-26802041

Home Security System VG Electronics Contact: +91 9381009080 Access Security Systems Contact: 044-32219146

Kitchen Components Faber Galleria Contact: 044-28110932 Impulse India Contact: 044-243306666

Inverter Microtek Power Control Contact: +91 9282115050 Numeric Power Systems Contact: +91 9841053044

Wire Mesh Ashok Hardware Contact: 044 25354958 Nitin Wire Neting Contact: 044-25321159

Elevator Companies Otis Elevator Company I Ltd Contact: 044-24321762 Supriya Elevator India Pvt Ltd Contact: 044-25510363

Electrician New Rasi Electrical Sales & Service Contact: +91 9380658465 GS Mani & Sons Contact: 044-25368301

Carpenters Ponraj Woodwork Contact: +91 9094069404 Highland Woodwork Contact: 044-26262181

Doors and Windows Halcyon Interiors Contact: 044-24331631 The Door World Contact: 044-23634404

Soil Testing Agencies Das Material Testings Pte Ltd Contact: 044-22354253 National Mettalurgical Lab Contact: 044-22542077

Land Surveyors AABide Land Surveyors Contact: 044 65690281 Atlas Topomapers Contact: 044 25503236

Plumbing Contractors Kumaran Plumbing Contact: 044-24336821 ME Plumbing Works Contact: +91 9444049387

Building Renovation Ace Contractors Contact: +91 9841061999 A-cube Contractors Contact: +91 9791084079

Florist Floral Hut Contact: +91 9444048923 Suman Florist Contact: 044-28271294

Water Proofing MP Integrated Contact:044-24865586 Term Trust Eng Services Contact: 044-24343791

Project Management Consultants Fichtner Consulting Engineers Contact: 044 24359158 Meticulous Group Contact: 044 26424310

Swimming Pool Experts Aqua world Contact: 044-43512296 PCP Swimming Pools Contact: +91 9840067790

False Ceiling Contractors Shanmugam Interiors Contact: 044-32470922 Reenas Contact: 044-30522686

Upholstery Majestic Foam Rubbers Contact: 044-28522813 Springfield Contact: 044-27498005

Property Valuers D. Parthasarathy Associates Contact: 044-24358717 Murray & Co Contact: 044-25345201

Bore Well Contractors Sri Mahalakshmi Borewells Contact: +91 9841042467 AK Borewell Contact: +91 9380531135

Water Tank Cleaners Chennai Tank Cleaners Contact: 044-42045786 Globe N Clean Contact: 044-22351160

Vaastu Consultants Laxshmipathy Contact: 044-22530066 Pandit Govardhan Contact: +91 9444057818

Sun Control Films Shri Balaji Contact: 044-24915697 Sun Films Contact: 044-24983110

Carpet, Sofa Care Services Carpet Care Service Contact: 044-24850943 Carpet Indian Services Contact: 044-24356130

AC Rentals Glacier Air Conditioner Contact: 044-45410109 LV Refrigeration Contact:+91 9841152629

AC Service Glacier AC Service Contact: 044-4541 0109 AC Service Contact: +91 9841152629

Architects Jeevan & Associates Contact: 044-26420637 Logan's Architect Contact: 044-24421972

Car Hire Services Bala Tourist Home Contact: 044-28224444 Chennai Cabs Contact: 044-24812719

TV Service Centers Sai Electronics Contact:+91 9841077782 Abirami Videos Contact: 044-24661750

IBMS Spectral Services Contact : 044-24618050 Honeywell Automation Contact: 044-66789000

Painters Goodness Nerolac Contact: 044-28522470 Western India Painting Contact: 044-28156499.

Landscaping Lavender Landscape Contact: 044-22583841 Rose Greenery Contact: 044-42142587

Water Treatment Morf India Ltd Contact: 044-42123036 Ion Exchange Contact: 044-28364251

AC Service Air Sakthi Contact: 044-28553389 OM Sakthi Contact: 044-24729971

Home Maintenance Services Red Star Maintenance Services Contact : +91 9840928744 Mr. Fixit Handyman Services Contact : 044-45204452

Services

www.chennairealty.biz

Chennai Realty August 2011 61


City Musing

Pergolas by Squarefoot

S

quarefoot, a name synonymous with premium integrated flooring solutions in India, launches their exclusive range of wooden flooring for pergolas and wood cladding on exterior walls to create a log-cabin effect. The company is a leading provider of engineered wood, solid wood, outdoor deck and laminate flooring solutions. A Pergola is a type of gazebo and is an excellent choice for chic seating areas in swimming pool decks, balconies and gardens. All the pergolas and wood cladding are custom-made in Burma Teak or Ipe as per customer requirements. Squarefoot also offers a neverseen-before 10 years warranty on all their products. A Pergola allows for an extra room to use all year round as it offers protection from the sun as well as rain during the hot summer months and serves as a beautiful relaxation spot. They act as an extension of the house and children can also use it as an extra play area. Squarefoot can customise these pergolas as per the clients’ needs, ranging from a plain pergola to a swimming pool pergola for resorts or spas, from painted pergolas for purely decorative purposes to Timber clad houses. This exciting new range of product is versatile as well as functional. The pergolas and wood cladding range is stylish and very easy to install. Like all Squarefoot products, its durability is guaranteed by Squarefoot’s exclusive technology that preserves the natural beauty of the wood and also conditions the product to harsh outdoor usage. Since Squarefoot customises the pergolas or outdoor wood cladding according to the clients’ taste, the price range for each pergola differs depending upon the design. The product range is available in all company stores and across 48 cities with the Square Foot brand dealers. Gaurav Saraf, Director, Square Foot, Bengaluru says, “A pergola has multiple benefits to offer as it can be used as an extension of one’s living space, it can also be used to entertain guests, be a relaxation spot whether at home or at a resort since it offers protection from the hot summer months and the monsoons. Pergolas are decorative as well as functional as they add grace, comfort and style, complimented with protection and durability, be it a home or hotel. Our aim is to ensure our clients’ can experience the best of outdoor living in beauty and style since it can add charm to an otherwise plain backyard, pool, garden etc. There have been many customers who’ve expressed a great desire in adding wood cladding to their exterior walls to create a log cabin effect.”

SPEND

For more details, visit www.squarefoot.co.in

62

Chennai Realty August 2011

www.chennairealty.biz


SAFA PROPERTIES SAFA THILAGA

SAFA SUNIL

’s zan l m Ra ecia Sp le Sa

100 Feet Road , Retteri Junction

Near Paper Mills Road, Kolathur

Kodungaiyur

Vinayagapuram Bus Terminus

Kolathur

Jawahar Nagar

Kolathur

Jawahar Nagar

Kolathur

Athiyaman Nagar

A.SALMAN: 9080444480 / 9080444402

www.salmanparris@gmail.com / www.safaproperties@gmail.com / www.safaproperties.in 11/1, 2nd Cross Street, United Colony, Kolathur, Chennai - 600 099 (Near Retteri Junction, Opp. Jayam Electronics) Ph: 044-42874782. Working Time 6.00am to 9.00pm


REGISTERED WITH THE REGISTRAR OF NEWSPAPER FOR INDIA UNDER NO. TNENG/2011/0086 POSTAL REGISTRATION NO. TN/CH(N)/326 CHENNAI REALTY.BIZ AUGUST 2011


Chennai Realty - August 2011 Issue  

August 2011 issue of Chennai Realty, Chennai's exclusive real estate magazine

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