Chennai Realty Chennai's Exclusive Real Estate Magazine
Vol : 1 Issue : 1
` 30
June 2011
Chennai 2020 The shape of things to come!
Focus Chennai's Top 100 Projects
Project of the month
Developer of the month Mehul Doshi
S & P Living Spaces 1
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Vinoth
Promoters & Developers p.ltd
www.vinothbuilders.in Z-268, 5th Avenue, Anna Nagar, Chennai - 40. Ph : 044 4261 2076 email : info@vinothbuilders.in
Mogappair
porur
on
s
ati
y ead
for
p ccu
res
o
r
de
Un
R
Nolambur Main Road
(Behind Dr. MGR Engg College)
g Pro
Rajagopal Pillai Nagar (Near Porur Junction)
3 Bedroom Flats
2 / 3 Bedroom Flats
1205 to 1365 Sq.ft
825 to 1145 Sq.ft
Covered Car Park
Covered Car Park
As per Vaastu
As per Vaastu
Projects under progress : Mogappair West Jaswanth Nagar Nr. Green Valley School Nerkundram Near Golden Eagle Theatre Valasaravakkam Next to Kesavarthani Bus Stop Thiruverkadu Pallava Nagar 800 Sq.ft - 1100 Sq.ft 3
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Editor’s Note
Editor & Publisher Kishore Kumar editor@chennairealty.biz Editorial Consultant InkWell Publishing Production Manager Prasanna Design Head Narayanan Sathish Marketing Manager Leslie Anburaj +91 8754487370 marketing@chennairealty.biz
Dear Patron... I am happy to present the 1st edition of Chennai Realty.biz, Chennai’s Exclusive Real Estate Magazine. It's been an exciting three months for us - from conceptualisation of stories, to getting the magazine print-ready for circulation. We have had our share of tribulations and pressures, but doggedly worked through to ensure we set a very high benchmark as Chennai Realty.biz also happens to be Chennai's 1st professional real estate magazine. We have designed the magazine keeping in mind the overall interests of home buyers and owners, giving them a 360-degree overview of the real estate sector – right from industry analysis, trends, forecasts, home styling, architecture, Vaastu, to finance, legal advise and technology. Do enjoy reading the cover story which will give you an understanding of Chennai's real estate market and how it is likely to shape up by the year 2020. My other favourites in this edition are the articles on Vaastu for your children’s room, and ideas on how to set up your perfect home-office. We understand that ‘location of choice’ is the foremost requirement of home buyers. To aide this, we have put together a list of the Top 100 projects across Chennai, classified on the basis of their location – North, Central, South, West and Suburbs. This should help potential home buyers compare properties in the location of their choice. I am particularly delighted to share our website www.chennairealty.biz, which is aimed at keeping you abreast of the latest happenings in the industry on a daily basis. Once you visit our site, you can also sign up for our weekly e-newsletter – PropWatch. We are committed to making Chennai Realty.biz a useful tool in the hands of home buyers and owners, and are all-set to deliver quality content in an easy-to-read format – bringing a new dimension to media reporting on the real estate and construction sector in this city. We believe in the saying: Nothing is ever perfect; there is always room for improvement. Your feedback and suggestions will help us learn, improve and innovate as we continue our journey to make Chennai Realty.biz a reputed voice of Chennai's real estate industry.
Kishore Kumar Editor - Chennai Realty.biz 6
Chennai Realty I June 2011
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 VS Ravi TNTAM/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 4 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.
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Preview 12 WHAT'S HOT: The face of Chennai's realty sector – from now to 2020! FEATURES 26 Comfort Zone: Sharad and Ratika Haksar share their favourite space with us 28 Vaastu Speak: Here's the best way to do up your children's room 30 Tech Talk: Home automation redefined! 32 Trend Turner: Work from home with these useful tips 34 Health Quote: What's your IAQ? Find out...
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44 Space Wise: TVH Consumer Products has something for everyone
INDUSTRY FOCUS 18 Project of the Month: Living Spaces by S & P Foundation 22 Developer of the Month: Mehul Doshi 36 Policy Police: What does RERA mean to you? 38 Expert Speak: All your queries... answered! 40 Smart Money: An interview with Mathew Joseph, Regional Head–HDFC awaits 42 Vanakkam India: An expat's guide to the real estate industry in India
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32 NEWS YOU CAN USE
8 Realty Bytes: A quick update from the industry 46 Chennai's Top 100 Projects: Choose the one that best suits your needs 57 Cityscape: Chennai's residential and commercial scene in detail
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60 Handy Guide: Looking for a handy man? Here are some tips! 62 City Musing: Dine and Spend in style www.chennairealty.biz
Realty Bytes e-Stamping system launched in TamilNadu The Stock Holding Corporation of India (SHCIL) has recently launched e-Stamping system in Tamil Nadu, which will replace the use of physical stamps. With e-Stamping, it is now convenient for anyone to pay stamp duty online without going through the hassles of obtaining a stamp paper or franking a document. The system is secure and reliable, and ensures that the stamp duty reaches the government safely, doing away with the risks associated with the physical stamping of documents. The highlight of using e-Stamping is that it is available at no extra cost; you pay only the amount of stamp paper required; a single e-Stamp can be purchased for any denomination; third party verification of e-Stamp certificate is possible; and it can be purchased by paying cash / Demand Draft, RTGS or NEFT. This facility is now available throughout Chennai, Kanchipuram and Thiruvallur districts, through SHCIL and select branches of Indian Bank, Corporation Bank and Central Bank. For further information, visit www.shcilestamp.com.
per cubic foot for plastering sand. The severe shortage has led to hoarding of sand, making its availability very difficult and forcing builders to slowdown their projects. With Chennai requiring about 10,000 loads (200,000 tons of sand) every day, there is a serious need for developers to look at alternative options to sand as construction cannot happen without this basic material. Nature takes about 600 years to convert rock into 1-inch of sand and with large scale construction happening all year round, there is simply no sand to mine. The prices of cement and steel have also sky-rocketed in the last year, putting builder’s margins under severe pressure.
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ASK Real Estate Special Opportunities fund, a realty-focused private equity fund has invested ` 50 crore in a special purpose vehicle (company) floated by Chennai-based Real Value Group. The money would be used to develop a residential project in Kottivakkam in Chennai, which will see Real Value Group develop 6.75 lakh square feet of space on a plot of 4.32 acre. The project is located close to the Taramani Railway Station, in the vicinity of the IT corridor on OMR and entertainment corridor on ECR. Founded in 1995, Real Value Promoters has completed over 7 million square feet of construction and have another 6.5 million in the pipeline. The company currently has three on-going projects – Neel Kamal and Sai Surya on OMR, and Sai Skanda in Velacherry – with upcoming projects in Oragadam and Greenways Road.
TVS Group to drive into 'low cost housing'
Caught in a 'sand storm' Chennai is facing severe shortage of construction sand leading to the price of sand going up by 3.5 times from ` 15 per cubic feet to over ` 45 per cubic feet. When the High Court banned the use of machines for sand quarrying operations, the prices went up as high as ` 60 per cubic feet. The closure of sand quarries in the neighbouring districts of Kancheepuram, Tiruvellore, Vellore and Villupuram meant that sand had to be transported from as far as Tiruchi, which is 330 km from Chennai. Wastage, oversized particles and heavy moisture content have added to the price, which soars at ` 60 per cubic foot for concrete and ` 80
ASK invests ` 50 crore in Real Value Group
Sa(n)d Story: Chennai's running out of sand, and quickly!
The Chennai-headquartered automotive group, TVS is all set to drive into the real estate sector with the planned launch of their low-cost housing project near Sriperumbudur at Nanmangalam, about 50 km from Chennai. TVH Housing, a company launched in March 2010, will develop 28 acres in Nanmangalam, which will house over 2,500 apartments. The key aspect of this township project involves development of 1 BHK apartments in the size range of 385–500 sqft to be priced between ` 7 and ` 10 lakh. The project is scheduled to be launched in the second half of the year. Though there is a huge opportunity for ‘low cost budget apartments’, the concept has seen little interest from developers, who feel that there is very little margin for them to operate within this sphere, given the
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Realty Bytes rapid rise in cost of construction material and interest rates. Another challenge is that the low income segment is not covered by traditional home loan institutions, which affect their affordability of buying a home of their own.
Raking in the money: ` 11,000 crore and counting...
New Launches
` 11,000 crore investment in the next 6 months
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Tamil Nadu is likely to attract investments worth ` 20,000 crore in the next six months with nearly 15 companies — many of them on the ‘Fortune 500' list — expected to announce their plans to set up manufacturing facilities, according to senior State Government official, Velmurugan, Executive Vice-Chairman, Guidance Bureau, Industries Department, Government of Tamil Nadu. According to a recent report released by the RBI, Tamil Nadu is the third largest recipient of FDI. Of this planned investment, Chennai is likely to attract well over ` 11,000 crore, which will generate an additional employment for more than 48,000 people in the next 12 months. Currently ranked third in the list of the country's ‘Most Competitive Cities’ behind New Delhi and Mumbai, Chennai has slipped one position due to the power shortage which has plagued the state for the last 10 months.
2nd airport in store The Union Civil Aviation Ministry and state-run Airports Authority of India (AAI) held a meeting recently to discuss the possible construction of a second airport in Sriperumbudur. The Civil Aviation Ministry sources have estimated that the current Chennai airport could be saturated by 2017 and pointed out that parallel runways cannot be constructed at this venue. The Government of Tamil Nadu has identified about 4,820 acres in Sriperumbudur for this project of which nearly 2,000 acres have already been acquired. It takes 3–4 years for a green field airport to be built from scratch, which means that for the new airport to be ready by 2017, work would have to begin by 2014. Chennai will join the growing number of global cities with two airports, and is expected to provide employment for over 3,400 people directly, and another 5,000, indirectly.
Vertica @ Gopalapuram
Phase II Launch of Isha Yara
Chennai-based Landmark Constructions has launched a premium luxury apartment project Vertica on Peter’s Road in Gopalapuram, an up-market residential location in Chennai. Vertica, to be developed at an investment of ` 261 crore, will house 82 luxury apartments spread over 17 floors and will have 64 2,350 sqft 3-BHK apartments; four 2,000 sqft 2-BHK apartments and uber luxury fourteen 4-BHK duplex apartments at 4,300 sqft. Prices start from ` 2.89 crore. Vertica is packed with lifestyle amenities including an infinity pool, spa, gym, mini-theatre, indoor games room, bar and a party hall. It also features a fully-mechanised 4-stack state-of-the-art automated car parking facility capable of accommodating over 200 cars. The project is approved for bank loans with leading financial institutions and should be completed by November 2013. For more details, visit www.ourlandmarks.com.
Isha Homes has opened Phase II bookings for their project Isha Yara in Medavakkam. The project, spread across 5.91 acres, will have 444 budget apartments with a total built up area of 4.28 lakh sqft. The project comprises 1, 2 and 3 BHK apartments of size starting from 531 sqft to 1211 sqft. Phase II will have a total of 156 apartments consisting of 80 single, 28 double and 48 three bedroom apartments. Prices start from ` 19 lakh. Isha Yara will have lifestyle amenities like a clubhouse, gym, indoor games, children’s play area, landscaped gardens, power backup and 24/7 security. Phase I of this project consisting of 288 apartments is fully sold out and should be ready for handover by December 2011. Future projects from this brand's stable include a budget apartment complex in Tambaram and gated community villas in Coimbatore. For more details, visit www.ishahomes.com.
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What's Hot
Chennai 2020
In the first issue, Chennairealty.biz gives you a clear, researched and detailed analysis of the city's real estate activity and what we can expect by the turn of 2020...
R
eal estate activity represents a key engine of economic growth. Residential as well as commercial properties form an important part of asset formation; foremost it satisfies one of man’s basic requirement. It also provides an assured stream of return and utility value to the owner of the property by way of rental earning, durable consumption in the form of shelter and other residential/ commercial services, as well as being a collateral for availing loans. Residential and commercial property accounts for a sizable share of the wealth of a nation.
The demand for real estate properties, particularly for private homes, depend primarily on the earning capacity of the prospective owner as also his borrowing capacity, interest rate structure for property loans and taxation policies.
Rise and fall Lack of transparency in the residential property market transaction, absence of a single centralised regulator in a vast country like India and limited availability of price information pose important challenges in keeping track of real estate
price dynamics. Movement in prices of real estate, particularly residential housing, is not only essential to the macro economy, but also to individual households. Internationally, construction of housing price index is an established practice amongst developed countries. Though the residential property market in India is very active, there are no organised markets which estimate the demand/supply forces, and track price movements. NHB RESIDEX is a pioneering attempt by National Housing Bank (NHB) to measure residential prices in India. The launch of
City-wise Price Rise Index
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What's Hot India's Most Competitive Cities DEMAND CONDITIONS
INFRASTRUCTURE Competiti Competiti veness veness City Rank Rank 2010 2011 1 1 Delhi 2 3 Mumbai 3 2 Chennai 4 4 Bangalore 5 7 Ahmedabad 6 6 Hyderabad 7 5 Kolkata 8 8 Pune 9 13 Nagpur 10 9 Jaipur 11 11 Chandigarh 12 10 Surat 13 12 Gurgoan 14 15 Coimbatore 15 14 Indore
Financial 74.51 79.59 63.3 67.18 64.05 60.74 60.38 59.40 58.13 57.33 58.40 59.42 56.80 58.11 52.32
Communi Administr Human Physical cation ative Capacity 69.82 60.87 53.63 59.08 56.53 62.13 56.91 56.72 55.27 53.16 53.11 55.22 45.93 48.20 46.60
NHB RESIDEX is an effort to capture the trend of price movement in residential properties on a comprehensive scale across fifteen cities in India. Unlike other countries, India with its vast and diverse economy, states and population spread, presents a case where the escalation and fall of property prices largely depends on various local conditions. Any steep fall in prices can at best be localised bubbles and never at a national level.
Becoming a Global City Chennai will be home to 8.75 lakh whitecollar jobs, a state-of-the-art international airport, 142 km expressway, sprawling financial city, sports city, medical city, a global integrated satellite townships spread over 2,433 hectare area, MRTS stretching over 45 km by 2015 and another 55 km by 2020, 19 flyovers and underpasses and over 15 BRTS corridor by 2020. Chennai is a classic example, where the rise and fall of property prices have always been moderate. As compared to other cities, Chennai is considered a slow market where the majority of buying is done by end-users and not investors, as is the case with other cities. Even during the recent economic recession, while property prices
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90.41 100.94 90.94 75.00 62.49 67.96 63.70 53.78 53.08 57.51 54.28 52.13 53.84 53.27 53.11
70.59 64.75 68.11 69.32 62.10 59.08 65.78 58.36 58.29 60.26 58.12 54.77 55.99 55.87 59.29
74.2 68.13 78.25 56.88 69.67 54.02 56.2 54.51 51.72 52.08 53.27 54.97 50.86 51.87 53.54
Innovation
Score
Rank
77.17 73.63 74.27 65.76 63.32 64.33 62.04 64.38 56.37 52.1 55.23 53.63 63.25 51.87 54.26
76.12 74.65 71.42 65.54 63.03 61.38 60.84 57.86 55.48 55.41 55.40 55.02 54.45 53.20 53.19
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
crashed by as much as 20–40 percent in cities like Mumbai, New Delhi, Bengaluru and Hyderabad, the corresponding fall in Chennai was less than 10 percent. This fact coupled with continuing demand drove a lot of real estate developers from outside Chennai to flock to the city in the last 3-4 years. This sudden influx of developers like Hiranandani, Puravankara, Mantri, Tata Housing, IVRCL, Embassy and several others has changed Chennai’s reputation of being a relatively 'sober' market.
Up the ladder... Chennai was a typically a medium-rise, high-density city, except for a few high-rise developments that dotted the skyline, with most apartment complexes having only 6 or 7 stories. Today, developers are not only coming up with buildings that extend up to 30 floors, but are also charging more ‘Floor Rise Charges’. Until 2005, the trend was the reverse with lower floors commanding premium prices and higher floor selling at a discounted rate. Competition among developers has also become severe with many new entrants in the Chennai real estate scene over the last two years. The steep escalation of prices within the city has forced the
Income Demograp Distributi hics on 84.05 83.01 86.77 66.14 78.60 63.56 59.26 62.46 57.95 59.46 50.93 65.87 50.14 60.19 63.09
81.83 78.22 74.14 62.11 64.79 59.39 58.46 62.43 55.7 55.65 57.25 60.07 50.61 53.17 53.88
Score
Rank
82.94 80.62 80.46 64.13 71.70 61.48 58.86 62.45 56.83 57.56 54.09 62.97 50.38 56.68 58.49
1 2 3 5 4 8 9 7 12 11 14 6 15 13 10
larger developers to shift their focus to the suburbs which are now witnessing frensied activity. The continuing growth of the IT sector coupled with rise in manufacturing activities has given way to growth along select corridors like OMR, Sriperumbudur and Oragadam. Land prices have spiraled in the last few years, making independent houses and bungalows unattainable by an average home buyer. This has given way to community living by way of ‘apartment culture’, which has well and truly matured over the last few years. Apartments offer the best of amenities like round-theclock security, club house, swimming pool, children’s play area, gym and landscaped gardens, making it possible for home owners to enjoy a good quality of life. There has also been an upsurge with demand for second homes going up considerably because of the high disposable income in the hands of the younger generation. Unfortunately the growth in the residential sector across the suburbs has neither been uniform nor balanced. The growth in social infrastructure like schools, hospitals, shopping and entertainment options has not kept pace with the residential growth
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Intensity & Diversity of Firms 102.10 94.85 94.85 93.30 64.21 69.30 57.09 66.45 51.11 52.10 52.53 50.89 61.88 51.52 52.30
What's Hot
Rank 1 2 3 5 4 8 9 7 12 11 14 6 15 13 10
COMPETITION Intensity Business & Score Diversity Incentives of Firms 102.10 92.07 97.09 94.85 89.35 92.10 94.85 90.50 92.68 93.30 68.54 80.92 64.21 75.54 69.88 69.30 63.99 66.65 57.09 59.16 58.13 66.45 56.40 61.43 51.11 53.73 52.42 52.10 55.25 53.68 52.53 53.93 53.23 50.89 51.79 51.34 61.88 51.8 56.84 51.52 52.17 51.85 52.30 52.29 52.30
INSTITUTIONAL INFRASTRUCTURE Rank
Supply Chain
Institutio nal Support
Score
Rank
1 3 2 4 5 6 8 7 12 10 11 15 9 14 13
88.60 89.13 94.30 95.39 68.99 70.38 59.34 62.19 57.21 52.84 50.80 65.09 58.73 51.94 51.86
73.20 61.20 60.17 55.32 56.05 53.78 49.1 49.49 53.98 46.75 45.78 47.18 54.23 50.17 50.83
80.90 75.17 77.24 75.36 62.52 62.08 54.22 55.84 55.60 49.80 48.29 56.14 56.48 51.06 51.35
1 3 2 4 5 6 11 9 10 14 15 8 7 13 12
As far as realty prices go, Chennai has accounted for the maximum price rise among top 15 cities over the last two years. Land prices within CMDA limits have sky-rocketed making homes within city extremely expensive
in the city’s suburbs, forcing many people to still commute long distances for work and other basic requirements.
Precious little aide The government has done very little to help growth in the peripheral areas resulting in tremendous pressure on existing infrastructure like roads, power, water, etc. The lack of planned development and zoning meant the continuation of 'Mixed Development Concept' which in fact prevents the city from growing in an organised manner and be in a position to tackle growing rapid urbanisation. Though the Second Master Plan of Chennai Metropolitan Development Authority was released in 2008 with a vision for making Chennai ready for the year 2026, it still needs to be seen how far the government can implement a comprehensive land use and development plan in the next few years. Already, a lack of vision has resulted in a severe power crisis across the state and the day when such a crisis will spread to other critical services like water, sanitation and transportation is not far away.
The finer details With the projected population of the extended
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2001
2011
2021*
4.34 million
4.68 million
5.51 million
x Greater Chennai
6.52 million
7.84 million
9.75 million
247
276
335
x Chennai
154 sq.kms 176 sq.kms 363 sq.kms
Sr. No. Item 1 Population
x CMDA Limits
2 3
Population Density / Hect. Area – CMA*
x Tiruvallur 4 5 6 7
386 sq.kms 637 sq.kms 859 sq.kms
x Kanchipuram
194 sq.kms 376 sq.kms 508 sq.kms
CMA No. of Schools No. of Hospital Beds
15.85 lacs -
Employment Projections g
-
36.28 lacs
50.65 lacs
19.96 lacs 3509 18400
31.64 lacs 4428 26800
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What's Hot CMA (Chennai Metropolitan Area) by 2021 reaching around 15.26 million (5.51 million within CMA and 9.75 million in suburbs) from its current level of 12.48 million, the demand for housing in Chennai is expected to be around 31.64 lakh units by 2021, from its current 19.96 lakh units. This makes a case for sustainable growth of the real estate sector in Chennai over the next decade. Of this 31.64 lakh unit, almost 59 percent of the demand is for 2 BHK and above. As far as realty prices go, Chennai has accounted for the maximum price rise among top 15 cities over the last two years. Land prices within CMDA limits have sky-rocketed making homes within city extremely expensive. If you had invested in a ` 25 lakh apartment within Chennai CMDA limits in 2001, the good news is that your house has appreciated over 200 percent and is well worth over ` 75 lakh. For a plot of land, the appreciation is even more - to the tune of about 300 percent.
Looking ahead Going forward, the peripheral areas surrounding Chennai, will attract more and more developers and home buyers as the proposed MRTS and ORR (Outer Ring Road) will make it easier for people to commute to the city using public transportation rather than personal vehicles. Chennai has what it takes to make a global metropolis provided the government takes a unanimous view on shaping the city to meet the population demands by 2020 and partners private sector in an equitable and transparent manner to translate this vision of making Chennai a ‘global city’. It is also important for the private sector to take on the responsibility of looking beyond just profits to ensure the larger interests of the citizens of Chennai is kept in mind in the years to come.
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A look at how property prices in Chennai would shape up by the year 2020: Location
Avg Capital Value 2 BHK (COST / sQft) 2000
2011
2020
ADYAR
2,000
12,500
64,500
ALWARPET
2,100
13,000
67,080
egmore
1,800
8,500
43,860
BOAT CLUB
4,000
25,000
1,29,000
MYLAPORE
2,000
12,000
61,920
THIRUVANMIYUR
1,600
11,000
56,760
ANNA NAGAR
1,650
10,000
51,600
KILPAUK
1,650
10,000
51,600
MOGAPPAIR
800
5,000
27,000
CHROMEPET
900
4,700
25,380
MANAPAKKAM
800
4,500
24,300
NANGANALLUR
850
4,300
23,220
2,500
12,000
61,920
850
6,500
35,100
2,500
14,000
72,240
VALASARAWALKAM
850
5,500
29,700
PUZHAL
NA
1,800
9,288
PAMMAL
NA
2,700
15,255
TIRUVALLUR
NA
2,100
11,865
SIRUSERI
NA
3,500
20,125
PADUR
NA
2,700
15,525
KELAMBAKKAM
NA
2,500
14,375
SRIPERUMBUDUR
NA
2,100
11,865
VANDALUR
NA
2,500
14,125
ORAGADAM
NA
2,000
11,300
T NAGAR VELACHERI NUNGAMBAKKAM
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Project of the month
Luxury ‘Living Spaces’ S & P Foundation is all set to change the face of urban luxury living with its latest project offering – Living Spaces 18
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Location is our biggest advantage; living spaces is just 6 km from Anna Nagar and is well-connected to major roads and the railway network in the area, making it easy for the residents to commute to the city and back. In addition, the project has been approved by all major banks and financial institutions for home loans
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Project of the month
S
pread across 80 acres, just a 10 minutes driving distance from Anna Nagar, is an up market residential locale in Chennai, aptly called Living Spaces. To be developed over 5 years at an investment of over ` 11,500 crore, Living Spaces will house a whopping 2,800 apartments and 300 villas on completion! Designed as a self-contained residential township with modern infrastructure and social amenities catering to a diverse community to meet their individual tastes, lifestyles and budgets, world class architects, have incorporated the best of modern-contemporary architecture and traditional values with specifications that match the best in the industry.
Green finger S Prabakar, Managing Director, S & P Foundation lets us in on his latest pet project: “Living Spaces will be one of the largest integrated developments undertaken in Chennai and is also our largest offering so far.” Phase I of the project is scheduled to have 592 apartments spread over 19
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blocks and consists of 1, 2 as well as 3 BHK apartments in sizes starting from 555 to 1,790 sqft. With 67 percent open area, the project will have vast landscaped gardens and open spaces, making it a truly ‘green project’. The township will offer a variety of social amenities that would include a world class club house, party hall, air-conditioned gym, library and swimming pool, besides indoor and outdoor gaming areas. The project has scope for many other amenities including water purification and treatment plants, 24/7 security, power back up, piped gas, servant quarters, Wi-Fi internet access, etc.
Great location Raajes Parekh, Vice-President, Marketing, S & P Foundation is very optimistic about the success of this project, “Location is our biggest advantage; Living Spaces is just 6 km from Anna Nagar and is well-connected to a major road and the railway network in the area, making it easy for the residents to commute to the city and back. In addition, the project has been approved by all major banks and financial institutions for home
loans.” Located close to Poonamallee High Road, its proximity to prime industrial and commercial areas like Sriperumbudur, Ambattur, Anna Nagar and Nelson Manickam Road reduces the time spent on commuting and hence more ‘family time’. The proposed Metro Rail Corridor near Anna Nagar and elevated expressway to the city from Maduravoyal will further add to the project’s connectivity to the arterial parts of the city. Living Spaces will have its own commercial and retail spaces with 50,000 sqft dedicated to departmental stores, restaurants, coffee shops, salons, health centres and ATMs. With a land bank of over 370 acres in and around Chennai valued over ` 2,000 crore, S & P will soon launch two more residential townships - one in Mogappair West and another near Tambaram. The second project in Mogappair is scheduled to be developed over 18 acres and will be a 20-floor high rise apartment complex. The Tambaram project will be developed over 150 acres and will house more than 5,000 apartments and villas.
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Project of the month
Category Location Land Extent
Luxury Township Mogappair West Extn (Ayanambakkam) 80 acres
Phase I Area No. of Units
10.91 acres 592 apartments across 19 blocks (1, 2 and 3 BHK)
Structure
Stilt + 4 floors
Size of Apartments Unit Cost Amenities
555 – 1,790 sft ` 18 – 60 lakh • 67% open space • Club house • Swimming pool • 50,000 sqft retail space • 24/7 security • Back-up power November 2012
Completion Date
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S & P Foundation Private Limited AMC Enclave, 3rd Cross Street, 6, Sterling Road, Chennai – 600 034. Contact: 044-66006600, www.sandp.co.in.
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Developer of the month
30 and still GOING strong! Doshi Housing celebrates a milestone in the real estate industry. Here's a look at its past and into the future
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Developer of the month
W
hile most developers in Chennai are only focused on looking into the future, Doshi Housing is taking a step back by reflecting on their journey so far, as they celebrate their 30th anniversary. Executive Director, Mehul Joshi, who has spent over 15 years growing Doshi Housing from a small-time builder to a top-ranked developer with a clientele of over 2,500 satisfied customers today, is all smiles, “We have always been a strong player in the residential sector and continue to focus our strength predominantly on meeting the residential demands of our customers.”
A walk down memory lane It all began when Mehul’s father and Founder of Doshi Housing, Harshad Doshi was looking a for space to set up his watch showroom on Mount Road (Anna Salai). An accidental break into the real estate industry turned into the proverbial 'goose that lays the golden egg' and they have never looked back since! The company soon moved from a fringe player to becoming one of Chennai’s leading real estate developer with over 3 million square feet of construction under their belt and another million in the pipeline. Always willing push the boundaries for their clients, one of the many attributes to Doshi’s success over the last 30 years is persistence. “From the beginning, customer service and transparency has been the key attributes to our continued success,” says Mehul.
Pioneers in affordable mass housing Doshi was one of the early entrants into the mass affordable apartment housing in Chennai. “We really had a tough time convincing people about the 'apartment' culture. Our Sri Mahalakshmi Apartments in Adambakkam was the single largest apartment project back in 1995, with over 325 apartments. Today, high-rise living has well and truly arrived in Chennai!” he exclaims.
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Our Sri Mahalakshmi Apartments in Adambakkam was the single largest apartment project back in 1995, with over 325 apartments. Today, high-rise living has well and truly arrived in Chennai!
innovative use of technology and newage construction material, wherever the finances permit. As Doshi Housing gears up for yet another busy year ahead with three projects in Chennai - a 11-acre residential development consisting of over 1,234 apartments in Karapakkam on OMR, a 7-acre Villa project at Vengaivasal, off Tambaram-Velachery Road and a 5-acre high-rise project at Vanagaram, off Poonamalle High Road - it is clear that the company is headed for growth and will continue to generate prosperity for its customers, employees and construction partners.
Keeping up with the times According to Mehul, the construction and real estate sector are one of the toughest businesses to be in today. While other sectors have been more or liberalised, the real estate sector continues to grapple with bureaucratic delays, archaic policies and procedures which have failed to keep up with times, resulting in creating an artificial scarcity for properties. “Why does a builder need to get 15 or more NOCs from independent authorities even before applying for approval from CMDA?” laments Mehul. Because of these pot-holes in the process, it takes anywhere between 6 months to 2 years for a project to get the approval of the CMDA in Chennai while the same takes only 90-120 days in other developed states like Maharashtra, Karnataka, Andhra Pradesh and Gujarat. In fact, such delays largely contribute to a mis-match in the demand and supply situation in Chennai, resulting in a sharp rise of property prices. Grappling with all these problems, Doshi Housing has to be complimented for finding other ways to improve their offerings through
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Developer of the month government authorities from as much as six months to two years before a project takes off, which directly adds to the cost of the land that remains idle till the project is launched. Two: the cost of construction material has skyrocketed in the last year. Today, our average construction is around ` 1,600 per sqft for a regular apartment.
In a conversation with Chennai Realty. biz, Mehul Doshi, Executive Director, Doshi Housing shares his views on the real estate scenario and prospects for Chennai. Excerpts from the interview -
How would you describe the overall real estate scenario in Chennai? The Chennai market has matured over the last few years with people finding more comfort living in apartments than independent houses. Of course, the rising land prices has also contributed to this change in attitude. Chennai has always been an end-user market with the demand for homes coming from actual buyers and not too much of speculative buying. The renewed IT growth, coupled with growth in manufacturing will continue to push the demand for residential units within and around Chennai for the next 2 years. There is a situation of oversupply in terms of commercial and IT space right now, but the current stock is likely to be absorbed over the next two years.
Why, in your opionion, have property prices gone up by as much as 30 percent in the last year in the city? The property prices have gone up on account of two issues. One: the long delay in getting approvals from CMDA and other
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Of late, there has been a spurt of projects being launched before getting the necessary approvals in place. How does it affect the buyer and what precautions can they take to minimise risks? The buyer is taking a huge risk by investing in a project without CMDA approval as there is no guarantee that he will eventually get what he paid for. In addition, there would be unforeseen delays resulting in money blockage. Our advice to customers would be to invest in projects that have duly received an approval from the CMDA as a measure of safety, and to look at projects where ground level construction has already started.
Most city-based properties are unaffordable today, is it possible to deliver a 2-BHK (900 sqft) at less than ` 25 lakh? It is possible if government comes forward to support developers with land banks at reasonable prices. Sometime back, there was an initiative, where the Tamil Nadu Housing Board invited developers to get involved in joint development on a PublicPrivate Partnership but it never took off as the policies and procedures were not clear. In fact, developers have suggested that the government should develop ‘Special Residential Zones’ on the lines of Special Economic Zones, where tax benefits
could be extended, making it possible for developers to offer a 2 BHK apartment at less than ` 10 lakh. Faster approvals and nominal taxation will help the real estate sector grow.
What is your take on the proposed RERA (Real Estate Regulatory Authority - Ref: Page 36)? Will it help the industry become transparent and liable? Even without RERA, our industry is highly regulated. We feel the proposed RERA should also apply for government agencies involved in providing approvals and not just be biased against developers.
But don’t you feel there is an urgent need to regularise the industry, given the fact that there are no entry barriers or standards? You are absolutely right in pointing this out. While regulation is very much required and necessary, it should not defeat the purpose which is to make the industry transparent and liable in the best interests of the customer. Organisations like CREDAI have made it mandatory for their members to adhere to a strict Code of Conduct which goes a long way in making it obligatory for all developers to adhere to certain corporate governance standards.
It seems that while developers from Mumbai, Delhi, Bengaluru and even Hyderabad have come to Chennai, there are very few Chennai developers who have gone to those cities. Why? One fact could be that most of the companies that have come to Chennai are listed entities, flush with funds and are aggressive in acquiring land banks at high prices, while Chennai developers have been more cautious on land banking.
Finally, what does Mehul Doshi enjoy most about this industry? I was inducted quite early into this business and have always fancied it as it gives me the satisfaction of catering to one of the basic demands of humanity.
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PEARL VALLEY
PLAN SHOWING THE LAYOUT OF HOUSE SITES IN S.No. 690, 691, 692, 693 / 1, ,2 VILPATTY VILLAGE, KODAIKANAL TALUK, DINDUGAL DISTRICT. PILLAR ROCK MOYER POINT
I DEVELOPERS
MAIN ROAD ANNA NAGAR,
PH : 044 - 45536747, 45536106, com, WEB SITE : www.palrealtors.com
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Finally an GREEN opportunity to have your own CREST KEY PLAN holiday home built to suit your dream family. N.T.S Villa plots at Pearl Valley offer you the perfect spot where you are made AREAtoSTATEM PEARL VALLEY feel at home in the lap of Mother Nature Cents S.No Sq.Ft with comforts of a modern lifestyle. 1 2610.0 5.90
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Comfort Zone
Keeping it Simple! Ace photographer Sharad Haksar and his wife, jewellery designer Ratika, tell us why their dining and living room is their favourite place in the house - Mandodari
A
walk around Sharad and Ratika Hak sar's home gives you a quick lesson into how to live a clutter-free life! “Unless something is aboslutely necessary, we don't have it in our home!” echo the duo. In fact, when they go out shopping, their main objective is to ensure that anything they buy is useful and minimalistic. Ratika's passion for embellishment and jewellery compliments Sharad's new-found love for interior design and together, they have a home that is truly warm, welcoming and comforting. “We spend most of our time in the living and dining rooms,” smiles Ratika, as she shows us around the house. The fascinating lights that have been placed around the rooms catch our fancy. “Sharad, being a photographer, loves to play with lighting
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and is very interested in light as a concept. So, if you ask me, I would say the highlight of our rooms is the wonderful lighting. Especially in the evening, all the rooms look cozy and very comfortable,” she explains, noticing our curiosity. At at time when most people are adding bold colours to their interiors to brighten it up, the Haksars are happy to go with the white look. Why all-white, we wonder... “All of us at home have a very hectic lifestyle, and when we come back in the evening, we just want to relax. White has a calming and peaceful effect, so we decided to go with it. It has worked well because invariably, we spend most of our time between the dining and living rooms!” Ratika exclaims. So while all their walls remain white, the
dash of mint green here and there that gives the rooms a peppy feel. Ratika also has a few special pieces of artifacts that add the necessary hint of colour to the plain background. Traditional pottery from Holland, candles, specialised lights and other small curios give the rooms an aesthetic and classy feel. Both artists in their own right, imprints and artwork play a very important role in their lives. So besides interesting light fittings, the couple also spends a lot of time going through artwork by notable artists across the world when they travel, like prints of Vincent Van Gogh's works and more. But, the most colourful feature of this couple's home is the amazing flower arrangements that have been placed around the rooms. Taking care of these flowers is Ratika's favourite hobby, “I love flower arrangements! Flowers are beautiful and the art of arranging them is very therapeutic. I thoroughly enjoy decorating the house with flowers.” While the concept of going 'all white' was Sharad's, Ratika took it upon herself to organise the whole place in accordance with the theme. “There are many fabulous stores these days where you can pick up just about anything you fancy, but I find that East India Furniture in RA Puram has some of the best furniture on offer. In fact, most of our home is done up with their stuff!” reveals Ratika. And though they in love with their 'white' home, the Haksars are not in any way oldfashioned or clueless about the goings on in home and interior trends. “Both of us like to keep our home contemporary, but are also keen on having a lot of space around the house. So, striking a balance between the two has been the key,” smiles Ratika, adding that making all their living areas
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SHOPPER'S GUIDE “We love to shop in Singapore because their stuff is extremely trendy and contemporary. Of course, the best things in the business are made in Europe, but it's difficult to travel with it. I would say London would be my second choice for places to shop for home accessories and contemporary artifacts.” look spacious and comfortable is their main motive. “For instance, we have a glass centre-table in our living room. Also, our windows and curtains are white to make the whole house spacious,” says this jewellery designer. For two people who see so much colour and drama in their respective professional areas of work, it's no surprise that they are keen on keeping it simple...
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Vaastu Speak
No Child’s Play! W
hile there are multiple choices for children’s room décor, the knowledge of Vaasthu Shastra can go a long way in enhancing your child’s creative thinking and good health. Following some of these simple principles, can help your child grow in a positive environment and aide in their health, education and well-being.
Westward Bound: By far, west is best direction for a child’s room. If you have a daughter, the room should face the northwest direction, whereas boy’s room can be in northern or eastern part of the house. Caution: Avoid the south-west direction. Furniture: The bed should be located in south-west portion of the room with the head in south or east direction. Avoid doors exactly opposite the bed. Almirahs and cabinets should be placed facing south or west. Position the furniture a few inches away from the walls, as it saves the positive energies of body and mind.
TV, computer and music systems: It is recommended to place the TV or music systems in north-west corner and the computer in south-east corner of the room.
Designing a children’s room is no more child’s play. Parents are required to keep in mind the changing tastes of their children, so that they are not only made to feel comfortable, but also grow up smart and healthy – Suresh, Subhavaasthu 28
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Study table: The study table should be placed in such a way that the child faces east, north and north-east while studying. It is said to boosts both memory and concentration and improve creativity. Books should ideally be kept facing south-west, south or west. Also remember to avoid clutter. Lights: Fix your lights on the south wall and south-east corner in children’s room as
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Vaastu Speak
it is good for health and generates positive energy. Yellow or spot lights create mental strain so avoid using them.
Children's Room Location
Colour scheme: As we all know, colours are directly related to the mood.. Green or yellow is ideally recommended for children’s room as it gives freshness, peace and increases brain power. Avoid using dark colours.
N
Doors and windows: The door should
NW
NE
Vaasthu Shastra is based on the interplay of the five elements of
Girls'Room
SE
(East, West, North, South). Following some of these principles will benefit the occupants of such
Excellent for Kids Room
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nature (Wind, Water, Earth, Fire,
Boy's Room
Space) and the four directions
be in the west or the north. Windows in the east and north of the room are beneficial.
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E
What is Vaasthu Shaastra?
space to reap benefit from the
Avoid
natural flow of energy. SW
S
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Tech Talk
Smart Homes The Next Big Thing!
You come back home from work and would like to relax on your couch in front of the television. Wouldn’t you like it if the air-conditioner was already turned on; your favorite music album playing on loop? No, we not talking about employing an army of servants to do this for you! Just push a button and make all this happen…
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t all started with the invention of the TV remote, which made tasks like choosing channels and adjusting volume much easier, without moving from your couch. And, that was the beginning of the home automation revolution! Having embraced the advancement in technology, our lives have become much easier than ever before. We are already using some simple forms of automation like, remote controls, garage door openers, security alarms, and door video phones. Now, with the launch of many new gadgets in the market, home automation is just a swipe of the credit card away!
Home Cinema Projectors Home Cinema Projectors offer the ultimate way to experience larger-than-life movies and sporting events in the comfort of your home.
Roomba 570 The best robotic vacuum yet…
Luxury or necessity? For those who follow cutting-edge technology news, it's no secret that home automation technology is becoming hugely popular. ‘Smart homes’ are not just cool, but also offer an immense amount of functionality that cannot be matched by homes that do not incorporate automation. Most people would agree that home automation is here to stay, and that it will only become more advanced as time goes on. The following are some of the coolest trends in home automation technology for your home…
Slingbox by SlingMedia Cool gadget that lets you to watch your home TV via the Internet on your computer or cell phone!
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NANO O2 Advanced Air Purifier Exciting new technology — patented Photocatalytic Oxidation using nanotechnology.
Home Massage Chair After a rough day, come home to a gentle soothing massage.
7-day Weather Forecaster This 7-Day Weather forecaster gives you the tools to be prepared all week for the weather conditions ahead
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Tech Talk Philips 9-inch Digital Picture Frame Enjoy zoom-and-pan slide shows on 9-inch photo frame. You can interchange with metal, black, white or red frames.
INSTEON Holiday Remote Wireless Kit INSTEON Wireless Remote makes it look like you are at home.
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Wireless Lighting Starter Kit Automated home control with wireless home-control networking technology.
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Trend Turner
Work from Home! Create a comfortable and productive office at home. Here’s how – Kirsten Silven
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W
hether it is used full-time, or it is just a place that is designed to handle business in the evenings or over weekends, a home-office can provide a quiet place to work, where it is easy to concentrate and take care of important matters. Organisation is the key to any successful home-office design, as is location. Regardless of the size of the home or apartment, try to choose a location that lends itself to quiet, and design adequate storage solutions to keep clutter to a minimum. Home offices should be located in a place that is conducive to getting work done, which typically means finding a quiet spot without too many distractions. This can be challenging in small homes where space is at a premium, but it is not impossible. If the home is too small to consider dedicating a private room, choose a corner that is located in an area that is as far away as possible from the main living spaces, such as a bedroom. There are several ways to create an illusion of separation for the office if it must share a space, including the use of decorative screens, floor coverings and careful furniture placement to demarcate different areas within a larger room. Decorartive screens can be used to function as a makeshift wall, while providing an opportunity to express one's personal style and complement the room's existing decor. Also, by placing other furniture in a grouping that has a decorative rug or other floor covering as a base, it will be obvious that the room is serving dual functions. Regardless of where the home-office is located, it is essential to choose furniture and storage pieces wisely. If the furniture are not both functional and comfortable,
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they are likely go unused, so look for a desk and chair that are ergonomically designed and come equipped with smart storage options. Especially when space is minimal, having adequate room for storage can make all the difference in keeping things organised. Choose wall shelves, under-desk storage bins in various sizes and bench seating with storage inside to maximise the square footage that is available. L-shaped desks are handy if it will be necessary to work on several things at once, and they come in a variety of sizes that will fit neatly into a corner. When setting up the perfect home-office, remember to focus on the details. Things like custom-built furniture and storage, or a fresh coat of paint to highlight the area, can really work to make the space more livable. Live plants, attractive window dressings and interesting artwork will give the room a complete look. Don't be afraid to get creative, try a minimalist approach or go all out and mix a variety of pieces, both old and new, to make the space both functional and attractive.
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Health Quote
Breathe Fresh!
When we talk about the quality of air, most people mistake it for the environment outside. But what about the indoor air quality (IAQ) – the air inside our homes? Ironically, IAQ can be worse than the outside air we are breathing – Anita Choudhary
V
ijayalakshmi stays an in apartment in Velachery, which she bought for ` 30 lakh, a few years ago. However, the quality of the building went unchecked and the paint not only started peeling off but the rooms had an offensive smell, if left locked for a few hours. She recalls, “Over time, my son started having breathing and respiratory issues. The doctor narrowed it down to allergic reaction to plastic paints.” They nipped the root cause of the ailment at the bud and re-painted the home with bio-organic paints. No doubt, there is a haze in the air surrounding us. The ozone layer and smog are what come to mind when discussing air quality, especially during the summer, when it is much more prevalent. As per the latest statistical data of WHO (World Health Organization), the sad fact that 70 percent of rural Indian homes do not have ventilation while cooking on solid fuels and traditional stoves comes to light. It also corroborates that out of 6,00,000 deaths every year in South East Asia due to indoor air pollution, 80% are in India. Additionally, higher percentages of indoor air pollution is found in places with low ventilation. This particular air pollution is linked to ‘sick building syndrome’ where people feel sick and show symptoms like nausea, vomiting and chest pain, but no specific source of the illness is diagnosed. While these symptoms go away when the person is exposed to outdoor air, many after-effects of heavy indoor air pollution show up later in the form of respiratory diseases and cancer – especially with carbon monoxide and asbestos inhalation.
Watch out! Some of the main causes of indoor air pollution include • Microbes - bacteria, mold, fungi • VOC (Volatile Organic Compounds) - These are compounds / material that emit gases over a period of time and include furnishings, lacquer, paints, cleaning supplies, pesticides, plastic toys, building materials, copier and printers, glues, adhesives, permanent markers, etc. • Pollen / Hair – Pollen from plants and hair from pets such as dogs and cats.
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Health Quote • Carbon monoxide - Usually found in combustion fumes, a by-product of camphor burning, use of room heaters etc. • Asbestos fibers - This is usually in homes or rooms where asbestos sheets have been used. • Tobacco smoke
It adds to the chemical pollutants within indoor air.
Organic pollutant removers: Most people light up dhoop and agarbattis. The non polluting feature of lobans, dhoop and agarbattis are known to disinfect and purify the indoor air, apart from having a fragrant aroma that is eco-friendly, unlike chemical air fresheners.
Home Remedies Ventilation: This is one of the most important aspects of keeping your rooms smelling fresh and healthy. The old adage of having enough sunlight in the room to purify the air still holds good. Crossventilation is essential but if you are staying in an apartment or rooms that are spaced out differently, it is essential to have air purifiers and maintaining hygiene to eliminate spores and bacterial growth. Hygiene: Covering the bed with a bedcover that can be removed when you sleep is important. Likewise, washing your linen and towels regularly and adding a small capful of disinfectant like Dettol is good. This helps eliminate proximity to microbes and fungal infections. The drains in the building / house require complete cleaning to ensure that it does not become a breeding ground for microbes.
Managing pets: Your dog may be the apple of your eye, but ensure that it
Clean furnishings and furniture: It
12 houseplants that help make your indoor air quality better • • • • • • • • • • • •
Bamboo Palm Chinese Evergreen Dracaena English Ivy Ficus or Weeping Fig Gerbera Daisy Golden Pothos Mother-in-Law’s Tongue (Snake Plant) Peace Lily Philodendron Pot Mum Spider Plant
does not climb on beds and sofas, leaving them covered with a layer of hair. Having lint removers, grooming the dog regularly and attending to its hygiene are important aspects to eliminate pollutants in the air. Pet hair has numerous dust mites and other microbes that are one of the leading causes of asthma, allergies, skin infections and respiratory diseases.
Say NO to smoking: Well, even if you cannot stop smoking, it is best not to smoke at home or within the room. Not only is passive smoking equally harmful to people in the room, but the furnishings and walls absorb nicotine.
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is best to periodically clean the furniture, dry clean carpets and curtains, clean and service fans, air-conditioners and electric chimneys. They may not seem to be harbingers of infections, but you’ll be surprised how much dirt they can collect with time. In line with the popular ecofriendly cleaning products available with major brands such as Amway, you can be sure to eliminate grime and dirt without compromising or adding chemicals to the air.
Indoor plants: The ALCA (Associated Landscape Contractors of America) and NASA conducted a study during the 1980s that concluded that houseplants not only beautify your home’s interiors, but also improve your IAQ by purifying the air.
Using air purifiers and air conditioners: To counter the growing natural ventilation constraints at home and in commercial establishments, numerous companies have launched air purifiers. Some notable ones include: Euroair Energie and Euroair 2, while LG promotes its own range such as PS-S200WC, PSMK450, PS-N550WP and PS-M550. There is a demand of products with HEPA (High Efficiency Particulate Air filter) to counter the tiniest of the pollutants. A range of heating and air-conditioners are available with filtration systems from brands such as LG, Videocon, Whirpool and Hitachi that you can look into. So, the next time you’re down with a respiratory problem or skin infection, don’t forget to first check if you home is wellequipped to protect you from pollutants and problem-makers!
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Policy Police
Get Ready For Rera! The Union Ministry of Housing and Urban Poverty Alleviation has published the draft of the Real Estate (Regulation of Development) Act which proposes to lay down what is expected to be a common regulation for the real estate sector across India. This is expected to bring a lot of transparency and make the real estate developers a more disciplined lot. The key provisions of the Act have been summarised for your easy reference – Kishore Kumar
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inally, there will be some sort of a benchmark on how, what and where to build – a move from the Union Ministry of Housing and Urban Poverty Alleviation that will hopefully change the face of our cityscape for the good. The Real Estate Regulatory Authority (RERA) Act proposes to establish a regulatory authority to control and promote construction, sale, transfer and management of colonies, residential buildings, apartments and other similar properties. It provides for compulsory registration of all real estate projects where: (i) The area of land proposed to be developed exceeds 1,000 square meters or 10,000 square feet; or (ii) The number of apartments proposed to be constructed exceeds four. For obtaining registration, besides furnishing other details and information, the developer would have to furnish a bank guarantee equal to 5 percent of the estimated costs of development work to the local authority or other authority having power to give permission for construction or development of land. The registration is valid for three years. Where delay in completion of the project is for reasons beyond the control of the developer, the developer can seek two renewals of one year each.
Obligations of developer The Act details the obligations and responsibilities of the developer –
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• The project cannot be advertised before it is registered with the authority. This registration will ensure that the project has obtained all sanctions. • The advertisements should be specific and clear. There should not be any misleading images or highlights about the project. •B uilders should use proper terminologies and will be required to give a detailed specification of carpet area, super built-up and floor area. In addition, they also need to give information about all the extra charges levied for common spaces such as corridors, parking and lifts, etc. • The act makes it compulsory for the developer to enter into an ‘Agreement for Sale’ in a specified format with the prospective buyer, before accepting any deposit or advance. • The draft has made it mandatory for developers to allow all prospective buyers to inspect all documents pertaining to
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Policy Police approvals, sanctions, any other relevant document related to the property. • Developers are required to intimate buyers, in case they have taken any loan against that property.
Transparency and powers of the Regulatory Authority The Regulatory Authority shall host the website of records of all real estate projects in its jurisdiction and shall ensure compliance of the obligations cast upon the developers and allottees. The Regulatory Authority has the power to decide any dispute between a developer and an allottee regarding failure on either part to meet its obligations. Establishment of Appellate Tribunal The Act provides for establishment of a Real Estate Appellate Tribunal (Appellate Tribunal) to adjudicate any dispute and hear and dispose of appeal against any direction, decision or order of the Regulatory Authority. The Act also ousts the jurisdiction of civil courts to entertain any suit or proceeding in respect of any matter which the Regulatory Authority or Appellate Tribunal is empowered to determine.
Offences and penalties Penalties have been prescribed for violations of the provisions of the Act. The penalties range from up to three years imprisonment for not registering a project or for not complying with the orders of the Appellate Tribunal, to monetary penalties which may be ascertained on a daily basis for non compliance or as a percentage of the development costs or sale price.
transparency and accountability by seeking to regulate the so-far unregulated real estate sector in India, it needs ensure that it does not add more ‘red tape’, thereby defeating its own purpose of streamlining and simplifying real estate transactions in the country. When properly implemented, it will provide considerable relief to the ordinary investor
Though RERA will be a boon for property purchasers, it has received much criticism from developers, who have long complained about the delay and difficulty in obtaining approvals for construction from various government agencies and have the addressed the need for single window approvals
What it means… Litigation in India is known to be a prolonged process and only remedies available to a consumer in a dispute with a developer are to file a suit in a court of law or approach the consumer courts. With the enforcement of this Act, the consumer will now be able to have their grievances redressed through a specialised body. Though this Act is a welcome step as it seeks to bring in much–needed
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who has to otherwise go through many obstacles to purchase a property and at times is even duped by small developers, builders or brokers. By imposing strict obligations on the developers, the Act seeks to ensure that construction is completed in a timely manner and on completion, the buyer gets the property as per the specifications that
he had been promised. Further, by seeking to establish the Regulatory Authority and Appellate Tribunal, the Act provides a forum where disputes could be heard by a specialised expert body, which would result in expeditious dispensation of justice. The Act also ensures that allottees do not default in making payments and the Developers receive periodical payments. By providing for penalties for both the developers and allottees, the Act seeks to ensure than non-compliances would be minimal. Thus once enforced, the Act will ensure that all real estate transactions are carried out in a just, fair and lawful manner. Furthermore, the Act makes it mandatory for all sale agreements to be registered. The Indian Registration Act, 1908 does not provide for compulsory registration of an Agreement for Sale since such an agreement by itself does not create any interest in immoveable property but merely gives the right to obtain another document, which when executed would create right, title and interest in immoveable property. This would further protect the interests of property purchasers.
And, finally… Though the Act will be a boon for property purchasers, it has however received much criticism from developers, who have long complained about the delay and difficulty in obtaining approvals for construction from various government agencies and have the addressed the need for single window approvals. This issue has not been addressed in the Act. The Act also does not make it clear whether it will be applicable only to projects where construction has not been commenced or also to existing projects where development has already been initiated. Lastly, though the Act provides for a list of disclosures to be furnished by the developer, the list could be made more exhaustive to bring real estate practices in India in conformity with the best practices of the Western world.
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Expert Speak My uncle has a property in Kacheepuram, 60 km from Chennai, in a village. If the property is mortgaged by a bank what can do they do? Is there something that can be done on the property papers? Please advice. M Kumaresan Mortgage information is an inseparable part of the Sale Process. In fact, you can even sell the house with the mortgage, but first get into an agreement of sale. In such a case, the purchaser or his bank can clear your loan and the balance will be paid to you. In this procedure both the buyer and the seller undergoes additional formalities. The loan is not transferable from the seller to the buyer. The new loan amount will be treated as a fresh one. If the buyer takes the loan from the same bank/HFC he/she has to submit new documents for the loan processing.
I have booked a flat in OMR in October 2008 and we were told that we would get possession of it in 24 months. I do not think they will give hand over the keys for at least another year or so. Can we take any legal action against the builder? I have already paid a hefty interest... GK Vasu It is better to form an Association with representatives from each of the flats in the premises and then give a notice to the builder referring to the relevant provision of the Flat-buyers’ Agreement. After the notice period is over, immediately take this problem to the Consumer Court. Another option would be to check if the builder is a member of CREDAI. If so, you can approach them to resolve your problem.
Recently, I booked an apartment with a leading developer in Chennai. While I have been charged for the Super Built Up area of 1,750 sqft, I was told that I will only get 1,137sqft as carpet area. Is there a fixed ratio for SBU vs. Carpet Area? How do we know we are paying the right price? Gayathri Ramaswamy
Q&A
There is no fixed ratio for SBU and Carpet Area. It varies from builder to builder and also depends on the kind of development. For example, a small 6-in-1 apartment complex will have less common area whereas a township will have a larger common area. As a thumb rule, the carpet area should be usually between 70–80 percent. In your case, it’s a little more. You could probably ask the builder to give you a complete breakup of the area statement of the project to arrive at the right carpet area.
What is the approximate tax on a 3 BHK apartment that is sold after owning it for 15 years, if the profit from sale is above ` 80 lakh? Maya Rajan
Capital Gain = Sell Price – Indexed Purchase Price. Indexation is a technique to adjust income payments by means of a price Index, in order to maintain the purchasing power of the public after inflation. We must understand that prices in general also rise, so the actual price should not be used while computing the profits, rather it should be indexed as per inflation in the country, so that people can get the real value from sale of their assets. Indexed Purchase Price = Purchase Price x (CPI for current year / CPI for year of purchase). Once you have the Indexed Purchase Price, you can subtract it from Sale Price and get your capital gains (Consumer Price Index – CPI). In case of individuals and HUF, long-term capital gains are exempt if the sale proceeds are reinvested in certain assets. These exemptions are subject to certain conditions and the reinvestment has to be made within the prescribed time.
What is the procedure of Aadivasi Land Purchasing, where the buyer can either be an Aadivasi or Non Aadivasi? Dinakaran E Generally, lands belonging to Scheduled Caste and Scheduled Tribe grantees cannot be alienated. Laws prohibiting transfer of 'granted land' have been enacted by different states in terms of the preamble of the Constitution to provide economic justice to the Scheduled Castes / Scheduled Tribes and other weaker sections of the society and to prevent their exploitation in terms of Articles 46 of the Constitution. There are many levels of vigilance and monitoring checks to prevent any illegal transfer of such grant land. Of course, there is difference between a 'granted land' and 'land purchased on payment of a price', which can be looked into.
Have a query about buying, selling a property? The editor of Chennai Realty.biz, Kishore Kumar will try to solve your problems with expert, up-to-date advise. Write in to us at editor@chennairealty.biz with Reg: Expert Speak in the subject line and have your questions answered in our next issue 38
Chennai Realty I June 2011
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Smart Money
Choose Wisely! In this interview, Mathew Joseph, Regional Head – HDFC, talks about the real estate scene in Chennai, gives readers tips on choosing the right home and more…
customer through the process. Besides this, our expertise in providing complete home loan solutions and introducing loans that meet the customer’s needs have helped us over the last 33 yrs. We have also believed in catering to customer expectation needs: the property portal www.hdfcred.com helps customers choose a property out of various listings. What do you feel about the increase in the numbers of developers in Chennai? Developers who have shown progress in construction are doing well. Also, projects where the prices are in-line with the market and have not increased sharply are continuing to do well.
How would you rate the Chennai real estate market to other metro markets like Mumbai, Delhi and Bengaluru? The dynamics of the real estate market in Chennai has changed in the last 6-7 years. The entry of pan-India players and large townships by local developers has changed the face of realty development in this city, which earlier never had large projects. The Chennai market, unlike other markets, is more end-user driven and price-sensitive. The prices in Chennai have not increased as sharply as they have in Mumbai and Delhi in the last year. Tell us about the demand for home loans, given that interest rates are going up… The demand for home loans has been good and our loan disbursement growth has been on expected lines.
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Chennai Realty I June 2011
Where do you see the interest rates going from here? A lot would depend on the stand the RBI takes to control inflation. What percentage of your home loan portfolio in Chennai is for second/third homes? About 12-15 percent of our business comes from the resale market. HDFC has always been a very strong brand for home loans. What new initiatives are you taking to retain this lead? Customer service has always been our primary objective. Every customer touch point in our organisation is aware of this objective. Our strength is in our workforce where we have staff who understand the nuances of the business and can guide the
Your advice to first time home buyers… Buyers should choose a credible developer who has good track record in quality and adherence to delivery timelines. Construction progress at the site is another important factor to be looked into. Choose the right Housing Finance institution which will provide complete assistance in the due diligence of the property and not merely a home loan. HDFC has, over the years, provided complete assistance to customers when it comes to property purchase. What is your take on the future market scenario for residential, commercial and retail segments across Chennai? The off-take of residential properties has been good in the last 12 months. Going by the trend, the sale scenario is expected to be good, provided developers do not increase prices and there is considerable progress in construction. The commercial IT supply is still a concern; both in terms of sales and lease, it has not kept in pace with supply.
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Vanakkam India
Home Calling Though many Indians live abroad or are married to foreigners, they would like to come back to the country to own property. Here are some guidelines for NRIs, PIOs and foreigners to acquire property in India – Rohini Kumar
I
t is known that Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Foreign National of Non-Indian Origin can acquire Immovable Property (either residential or commercial) in India by way of purchase, gift, inheritance, or share of joint property received upon partition of family/property, etc as per the guidelines laid by the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000 (FEMA). But, there are some crucial guidelines to be followed while buying property…
a/c (NRO) in connection with acquisition of Immovable Property in India – • A Non Resident who is a citizen of India • A Non Resident who is a Person of Indian Origin (PIO) • A Non Resident who has established in India a branch office or other place of business (excluding a liaison) office There are no restrictions on the number of residential/commercial properties that can be purchased.
Gifts Purchase The Reserve Bank of India (RBI) has permitted the following categories of NRIs/PIOs to acquire Immovable Property (other than agricultural land, plantation or farm-house property) by way of purchase, provided the payment is made out of Foreign Exchange Inward Remittance or any Non Resident Bank Account in India, that is (Non Resident External (NR(E)), Foreign Currency Non Resident Account (FCNR(B)) or Ordinary Non Resident Rupee Account
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General Permission is granted to acquire any Immovable Property (other than agricultural land, plantation or farmhouse property) by way of gift from a person (donor) who is – • A Person Resident in India, or • A Person Resident outside India (NRI) who is an Indian citizen or foreign citizen of Indian origin. Provided, applicable Gift Tax if any has been paid at the time the immovable property is being gifted.
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Vanakkam India Thus, Foreign Nationals of non-Indian origin can be further divided into
Inheritance General Permission is granted for inheritance of Immovable Property including agricultural land, plantation or farm-house property from – • A Person Resident in India, or
• Foreign Nationals of Non-Indian Origin, Resident Outside India • Foreign Nationals of Non-Indian Origin, Resident In India
• A Person Resident outside India who may be an Indian citizen or Foreign Citizen of Indian Origin provided such person had acquired the said property in accordance with the provisions of FEMA. Hence, agricultural land, plantation or farmhouse property can be acquired by way of inheritance only.
Acquisition by Foreign Nationals of Non-Indian Origin The residential status of a foreign national of non-Indian origin determines the ability to acquire immovable property in India.
Foreign Nationals of Non-Indian Origin
Acquisition and Sale of Immovable Property There is no ceiling on the number of immovable properties acquired or sold in India by NRIs and PIOs. However, NRIs/ PIOs belonging to Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan require a prior approval of the Reserve Bank of India for acquiring Immovable Property in India. It is mandatory to file a declaration of the acquired property with the Reserve Bank of India within 90 days of acquisition of property, on the prescribed ‘Declaration of Property by NRIs/PIOs Form’ - IPI 7. For
repatriation of sale proceeds of property or properties credited with NRI/PIO accounts, it is mandatory to file a declaration of the sold property with RBI within 90 days of sale of such property, on IPI Form 8. Apart from the declaration of property, there are many other tax and legal formalities related to the acquisition of Immovable Property in India which NRIs and PIOs need to adhere to. Formalities of transfer of funds for purchase/sale through accounts facilities available, applicable charges and processes for registration of property documents and applicable stamp duties for all transactions, etc., are procedures that should be complied with. NRIs and PIOs are also eligible for home loans in India and need to comply with the guidelines for repayment. Along with the official guidelines, NRIs and PIOs also need to follow general dos and don'ts while acquiring property in India.
Resident Outside India
Resident in India
Residential Status
They do not meet the criteria of having resided in India for 182 days or more.
They meet the criteria of having stayed in India for a period of 182 days of more. They may also be referred to as Persons Not Permanently Residents.
Acquisition of Property in India
Cannot purchase any Immovable Property in India. Cannot be added as a second holder to a property purchased by an NRI/PIO.
Can purchase Immovable Property after obtaining the necessary approvals and fulfillment of requirements, if any, prescribed by the concerned State Governments.
Reserve Bank of India (RBI) Conditions
Can take up residential accommodation on lease, provided that the period of the lease does not exceed five years. In such cases, there is no requirement of taking any approval from the Reserve Bank of India.
Prior approval of RBI not necessary for a citizens of other countries other than those of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan.
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Space Wise
SANITARYWARE — REINVENTED! TVH Consumer products reinvent the humble bathroom with their range sanitaryware and bathroom accessories – Samyutha Balasubramaniam
T
he general Indian mindset about bathrooms used to be – get in, do your business and get out. It wasn’t a place one liked to linger in, what with the usual standard white basin, a wash closet if you’re lucky, a bucket and mug and a shower which doesn’t work. Add to this,
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Chennai Realty I June 2011
dingy lighting from a single 40 watt bulb. Not anymore! A quick tour around TVH Consumer Products’ spacious store in Teynampet is enough to convince one that the Humble Indian Bathroom will soon go the way of the once ubiquitous Ambassador car. And
about time too! Who knows how many ‘Eureka!’ moments Indians have been missing out on, just because they didn’t spend enough time in the bathroom? As soon as I walked into TVH, an attentive store employee was at my side, offering to help or show me around. As I walk into the
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store, expecting the usual line-up of white ceramic closets, white washbasins, maybe a rectangular tub thrown in for good effect, the first thing I notice is a round pillar, with wash closets set into it, all around, like seats. They’re so elegant and they looked so comfortable that one felt tempted to just plonk down on them, then and there. Opened 9 years ago, with a branch in Coimbatore and one coming up soon in Pondicherry and Trichy, the store aims to provide complete solutions for all your bathroom fixtures needs, for every segment of the population. In fact, their client range runs the gamut – from large hotels, to builders who use their products, to several prominent architects in the city who swear by them, and walk-ins looking for a new washbasin.
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Chennai Realty I June 2011
They aim to cater to a large group of people and their variety of products plus the price range reflects that. TVH is the distributor for four international brands, three from Germany and one from Japan. Toto, the Japanese brand, was what they started with first and are the sole distributors of this brand in Tamil Nadu. Other brands from Germany soon followed, including Duravit, Villeroy and Boch as well as Keuko, to meet the consumer’s needs. The unifying philosophy behind choosing these brands remains a desire to cater to all segments, be it ultra-modern and sleek or old-fashioned and traditional, taking pride in bringing new innovations to the city. For instance, Villeroy and Boch has come out with a pure stone based Closet and Washbasin, which certainly amps up the look of any bathroom. They have model bathrooms laid out, several different types with different space utilisation, to cater to any sort of house, hotel room or apartment. One of them showcases the stone fittings, where you can definitely see the appeal. Another innovation is by Keuko – Swarovski crystal based mirrors, which offer exemplary clarity. Talking of mirrors, they also have a detachable wall mounted magnifying mirror, which offers a closeup of your face. It comes with its own vanity case and light strips on the side, perfect for when you travel.There are remote controlled light strips on mirrors, multi-coloured model bathrooms, bathtubs which are like works of art, shower panels which let you control everything from the temperature to the water pressure with a wall mounted control panel, a two feet
rain shower, which makes you feel like you’re standing in a rain storm, to bidets - a new concept for the Indian consumer. They also stock accessories of all kinds, from handrails to towel holders, taps to toothbrush holders. The prices start from as low as ` 2,000 for a basic washbasin, ` 12,000 onwards for a closet and `18,000 for a bathtub. There is one mechanical wonder from Toto which retails for ` 2,45,000 – called the Neorest, which is set to be the next big thing. Equipped with sensors, the closets opens automatically when it senses the person, and utilises an in-built warmer to warm the seat before you sit on it. Once you are done, the bidet function with a wand emerges and sprays water, cleaning you up thoroughly. Following this, warm air is gently blown. Once the person gets up from the closet, it automatically flushes, deodorises, and closes of the seat cover! Sounds futuristic? Looks like an end to the 'who left the toilet seat up!' fights. What's more, it has the advantage of reducing contact, making it a virtually germ-free experience. The jacuzzi is another must-have for those able to afford it. Big enough to swim and equipped with a cascade function, this is definitely what is needed at the end of a long stressful day, to relax and rejuvenate. Indians now traverse the globe and they expect the same standards and comfort in their home as well. Well, looks like the bathroom will no longer be ignored when you decide to buy your dream house.
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Top 100 Projects Area : Chennai - North ORCHID SPRINGSS
NORTH TOWN
DOSHI TULIP
GOLDEN KINGS COURT
Location - Near Padi Metro Rail Station Type of Units - 1, 2, 2.5 and 3 BHK No. of Units - 2,000 Area - 692 - 2,244 sqft Completion - December 2012 Amenities - 5 Star CH, GYM, SP, SF, Health Club, Coffee Shop Builder - Alliance Group Contact - 044-30451200
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location
THE ARCHWAY
KGS VRUDHI
RC LAURELS
Location - Ormes Road- Kilpauk Type of Units - 3 BHK No. of Units - 16 Area - 2,224 - 2,324 sqft Completion - September 2011 Amenities - 24-hr power back up Builder - Jain Housing & Construction Ltd Contact - +91 8870701850
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Perambur 1, 2 and 3 BHK 1,200 990-1,396 sqft June 2011 SP, GYM, MPH Arihant Foundations & Housing Ltd 044-42244444
Kilpauk 3 BHK 27 2,040, 2,160, 3,360sqft March 2012 24-hr power back up, KPA KGS Developers Ltd +91 9361255110
Kilpauk 2 BHK 12 900 - 1,200 Sft Ready to occupy Back up generator, Wi-Fi Doshi Housing Ltd 044-43539160
- Parithipattu, Avadi
Type of Units
- 2, 2+ study BHK
No. of Units
- 480
Area
- 808 - 1,114 Sft
Completion
- December 2011
Amenities
- CH, SP, KPA
Builder
- Santha Build Tech
Madavaram 2 and 3 BHK 48 855 - 1,215 sqft Under construction Gym, MPH, Association Room Rajarathnam Construction (P) Ltd 044-26748888
Area
- 2,084 -3,157 sqft
Completion - September 2011 Amenities
- SP, GYM, CH, KPA
Builder
- Golden Homes Pvt Ltd
Contact
- 044-26213388
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Kolathur 2 and 3 BHK 28 925 - 1,079 sqft Ready to occupy GYM, KPA, 3 Phase power supply Rajus Flat Promoters Pvt. Ltd 044-42645830
AISHWARYA Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
India Pvt Ltd Contact
No. of Units - 11
Rajus Sapphire
SANTHA TOWERS Location
- TAS Enclave, Anna Nagar
Type of Units - 3 BHK
- +91 9962228090
Red Hills, Madhavaram Road 2 and 3 BHK 28 885 - 1,315 sqft June 2011 Covered car parking, power back up Rajmeena Builders 044-26280880
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 Area : Chennai - North THE AVENUES-ESPLANADE
PC CONSTRUCTION
VGN PLATINA
NAHAR SRI GANESH
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location Type of Units No. of Units Area Completion Amenities Builder Contact
Location
Location - Kilpauk Type of Units - 3 BHK No. of Units - 5 Area - 1,495 and 1,512 sqft Completion - June 2011 Amenities - Video intercom security, car parking Builder - Nahar Foundations Pvt Ltd Contact - 044-24454112
Tondiarpet 2 and 3 BHK 600 975 - 1,450 sqft Phase I - March 2011 Phase II - March 2013 CH, SP, KPA, Covered Car Park EMAAR MGF 044-64624444
- - - - - - - -
Kolathur 1 and 2 BHK 10 539 - 760 Sft August 2011 Covered car parking PC Constructions 044-26174114
- Ambattur
Type of Units - 1, 2, 3 BHK and Villas No. of Units
- 670 + 60 Villas
Area
- 596 - 1,250 Sft
Completion
- July 2011
Amenities
- CH, SP, KPA, GAR, SF
Builder
- VGN Developers
Contact
- 96000 10044
AURA GREEN COURT
LUMBINI SQUARE
THE METROZONE
Maple Orchard
Location - Poompuhar Nagar, Kolathur Type of Units - 2 and 3 BHK No. of Units - 6 Area - 1,495 and 1,512 sqft Completion - January 2012 Amenities - Covered car parking, inverters Builder - Aura Homes Contact - +91 9841022217
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Purasawalkam 3 and 4 BHK 435 2,250 - 6,000 + duplex and pent house Ready to occupy CH, KPA, SP, Bank True Value Homes +91 9884340003
Anna Nagar 2, 3, 4 and 5 BHK pent house 1,600 1555 - 4818 Sft November 2013 SP, KPA, GYM, SF, Joggers Track OZONE Group 044-42253700
Anna Nagar West 2 and 3 BHK 196 720, 960, 1,025 sqft November 2012 Car parking, Gym, reading hall Ben Foundations (P) Ltd 044-26156171
ISHWARYAM
KINGS MANOR
Location - Poonamallee Type of Units - 1, 2 and 3 BHK No. of Units - 396 Area - 500 - 1,600 sqft Completion - December 2012 Amenities - SP, gym, jogging track, amphi theatre Builder - Himabinduinfra Pvt. Ltd Contact - 044-32218665
Location
- Aminjikarai
Type of Units - 3 BHK No. of Units
- 6
Area
- 1,435 sqft
Completion
- April 2012
Amenities
- Car parking
Builder
- Firm Foundations
Contact
- 044-2619 2619
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 Area : Chennai - Central VISHWADEEP
36 CARAT
Location Type of Units No. of Units Area Completion Amenities Builder Contact
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
- - - - - - - -
MRC Nagar, Santhome 3 BHK 9 2,902 sqft September 2011 Gym, SP, GAR, Intercom NAPC Properties 044-49004100
TVH BATIKA
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Alwarpet 3, 3.5 BHK 8 2,500 - 3,000 sqft December 2012 Terrace SP, gym, common lounge, centralised A/C True Value Homes +91 9884340005
THE ORIGIN
Close to DasaPrakash, PH Road 3 and 4 BHK 36 2,800 sqft August 2012 CH, 24-hr security, party hall Akshaya Homes +91 9677298811
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
ANNORA
Shastri Nagar, Adyar 2 and 3 BHK 16 1,308 - 2,062 sqft December 2012 Gym, SP, amphie theatre Adroit Urban Developers Pvt Ltd +91 9566299999
Location
- Besant Nagar
Type of Units - 3 Bhk No. of Units
- 8
Area
- 1,500 sqft
Completion
- December 2011
Amenities
- Car parking
Builder
- Asvini Foundations
Contact
- +91 9841633669
DOSHI ORIANA
JAINS PEBBLE BROOK
KGEYES ETERNITY
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Perungudi (OMR) 2 BHK 214 930 - 950 sqft June 2012 KPA, SF, Gym, party hall Doshi Housing 044-43539150
Thoraipakkam 1, 2 and 3 BHK 620 531-1,556 sqft January 2013 All facilities are available Jain Housing & Construction Ltd +91 8870701850
Kalakshetra Colony, Besant Nagar 2 and 3 BHK 86 1,170 -1,755 sqft June 2012 SP, KPA, gym, reading room KGEYES Developers 044-24313939
ANMOL ABHINANDHAN
CHITRA SURUTHI LAKSHMI ENCLAVE
Location
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
- Perungudi
Type of Units - 2.5 and 3 BHK No. of Units - 154 Area
- 1,200 -1,550 sqft
Completion - June 2012 Amenities
- KPA, COH,
terrace jogging track Builder
- CHENNAI ICC
Contact
- 044-24414272
Perungudi – Near OMR Toll Plaza 2 and 3 BHK 92 765 - 1,458 sqft July 2011 KPA, GYM Chitra Constructions (P) Ltd +91 9952990909
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 Area : Chennai - Central DECCAN KALAPATARU
DLF - GARDEN CITY
TVH SVASTI
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Sholinganallur 2, 2.5 and 3 BHK 88 939 - 1,494 Sft April 2012 Gym, MPH, SF, yoga, activity room Deccan Estates Ltd +91 9677209090
GLO
Sholinganallur 2 and 3 BHK 3,000 1,170-1,938 sqft Phase I - June 2011 Phase II - September 2012 ATM, health care, salon, shopping centre DLF +91 9884060955
BHAGGYAM BALA VILAS
Thoraipakkam 2 and 3 BHK 228 1,100 -1,600 sqft Phase I - December 2011; Phase II December 2012 SP, KPA, COH, CH True Value Homes 98841 77770
TAMARAI
SRESHTA NIRMAL
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Mylapore 1, 2 and 3 BHK 10 1,624 - 1,764 sqft June 2011 Car parking, gym Bhaggyam Constructions 044-2834 4770
ARNAV Lau
nch soo ing n
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Besant Nagar 3 BHK 4 2,550 sqft Ready To occupy KPA, SP, SF, power back up Vijaya Shanthi Builders +91 9789851111
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Abiramapuram 2 and 3 BHK 8 1,260 -2,237 sqft April 2012 Roof top garden, power back up Sumanth & Co 044-42107546
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
MELROSE PARK Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Sholinganallur 3 BHK 16 2,300 -3,300 sqft April 2012 Covered car parking Vishranthi Homes Pvt Ltd 044-24314515
Launching soon
Neelankarai 1 , 2 , 3 and 4 Bhk 12 Villas. 12 apartments 3,000 - 4,500 sqft September 2012 SP, 24-Hr power back up, gym Shanthi Builders +91 9841097775
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Santhome 3 BHK 14 Nil Lauching Soon Nil Sreenivas Housing Pvt Ltd 044-28342930
SIDHARTH NIVEDITA Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Thiruvanmiyur 3 BHK 6 1,343 - 1,581 sqft Launching soon Nil Sidharth Foundations & Housing Ltd 044-2834 5091
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
49
Chennai Realty I June 2011
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Top 100 Projects Area : Chennai - South ARIHANT HEIRLOOM
prime Rose-KGS
AMBER
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location
- Pallikaranai
Type of Units
- 1, 2, 2+Study and 3BHK
No. of Units
- 140
Area
- 688 - 1,400 sqft
Completion
- Ready to occupy
Amenities
- CH, SP, KPA
Builder
- KGS Developers Ltd
Contact
- +91 9361255110
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Off-IT Corridor, Thazhambur 2 and 3 BHK 256 1,047-1,600 sqft Ready to occupy CH, SP, DS, gym Arihant Foundations & Housing Ltd 044-42244444
ISHA YARA
West Jones Road, Saidapet 2 and 3 BHK 130 1,010-1,961 sqft December 2011 Gym, KPA Indus Cityscapes Construction Pvt Ltd +91 9962000222
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact
Medavakkam 2 and 3 BHK 464 801-1,450 sqft Ready to occupy KPA, MUH, commercial hall, gym Isha Homes
- 044-24404757
JAINS ALPINE MEADOWS
KGEYES CAROLINAA
MALLES JAYSHRI
P dot G Express
Location - Thiruneermalai, Pallavaram Type of Units - 2 and 3 BHK No. of Units - 936 Area - 927-1,508 sqft Completion - January 2012 Amenities - SP, KPA, power back up Builder - Jain Housing & Construction Ltd Contact - +91 8870701850
Location
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder -
- Velachery
Type of Units - 2 BHK No. of Units - 112 Area
- 919 - 932 Sft
Completion - May 2012 Amenities
- KPA, gym, power back up
Builder
- KGEYES Developers Ltd
Contact
- 044-2431 3939
T Nagar 3 BHK 12 1,200 - 2,060 sqft August 2012 KPA Malles Construction Pvt Ltd 044-28144716
MANTRI NAVARATNA Location
- Chrompet
Type of Units
- 1, 1.5, 2, and 3 BHK
No. of Units
- 272
Area
- 510 - 1,180 SFt
Completion
- May 2013
Amenities
- KPA, GAR, gym, - Mantri Developers Ltd
Contact
- 044-27474103
Contact
P dot G Constructions Pvt. Ltd
- +91 9500123395
K P NATWEST VICEROY Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
joggers track Builder
Pallavaram Kunrathur Road 1.5, 2 and 3 BHK 264 503 - 1,658 sqft December 2012 KPA, DS, gym
Pallikaranai 2 and 4 BHK 35 1,230 - 1,964 sqft September 2011 All facilities Natwest Estates Pvt Ltd 044-2434 0716
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
50
Chennai Realty I June 2011
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Top 100 Projects Area : Chennai - South NAVINS GOLDEN GLADE
RC ROYAL GRANDE
PURVA SWANLAKE
RAJKHAM ANURUP
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
T Nagar 3 BHK 8 1,701, 1,781 and 1,788 sqft December 2012 Landscaping, rain water harvesting Navin Housing & Properties Pvt Ltd 044-43207777
Thirumullaivoyal 2 and 3 BHK 176 870 - 1,145 Sft January 2012 Gym, library, association room Rajarathnam Construction (P) Ltd 044-26748888
Pallikaranai 2 and 3 BHK 700 1,250 - 1,750 sqft December 2013 Gym, MUH, SP joggers track Puravankara Projects Limited 044-24997890
Pallikarani 2BHK 24 942 - 1,176 sqft December 2011 KPA, GAR Rajkham Builders (Pvt) Ltd 044-23727954
FERN SPRINGS
Misba Garden
SIDHARTH THE NEST
CREATIONS AISHWARIYAM
Location
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location
- Velachery
Location
Type of Units - 1, 2 and 3 BHK
- Medavakkam
Type of Units
- 3 BHK
Type of Units - 2 and 3 BHK
No. of Units - 29
No. of Units
- 12
No. of Units
-
126
Area
Area
- 1,155 - 1,263 sqft
Area
-
937 - 1,523 sqft
Completion - December 2011
Completion
- Ready to occupy
Completion
- December 2011
Amenities
- KPA, power back up
Amenities
- Covered car park
Amenities
-
Builder
- RWD
Builder
- AVN Construction
Builder
- Sidharth Foundations
Contact
- +91 9500018201
Contact
- 044-43581198
Contact
- 044-28345091
- 509 - 1,089 sqft
-
Rajakilpakkam
KPA, home theatre
Madipakkam 1, 2, 3 and 4 BHK 34 870 - 1,040 sqft May 2011 Gym, SF, KPA Creations Promoters and Developers Pvt. Ltd +91 9840033552
JAMALS SANA HOMES
JAMALS LUXOR
Location
Location
- Karayanchavadi
Type of Units - 2 and 3 BHK No. of Units - 64 Area
- 940 to 1,300 sqft
Completion
- September 2012
Amenities
- RO Plant, STP, gym,
garbage chute Builder
- Jamals Enterprises
Contact
- +91 9840787792
- Kattupakkam
Type of Units - 2 and 3 BHK No. of Units
- 130
Area
- 950 - 1,375 sqft
Completion
- March 2013
Amenities
- Gym, KPA, SF, RO Plant
Builder
- Jamals Enterprises
Contact
- +91 9840787792
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
51
Chennai Realty I June 2011
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Top 100 Projects Area : Chennai - West JAINS NAKSATRA
SUNDERBANS
JAINS WESTMINSTER
NATWEST EUPHORIA
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Nolumbur 2 and 3 BHK 512 968 - 1,440 sqft Ready to occupy CH, SP, GYM, health facilities Jain Housing & Construction Ltd +91 8870701850
Nolumbur-Mogappair 2 and 3 BHK 544 957 - 1,548 sqft Nearing completion CH, SP, GYM, health facilities Jain Housing & Construction Ltd +91 8870701850
Arunachalam Road, Saligramam 1, 2 and 3 BHK 620 564 -1,961 Sft January 2014 24-hr power backup, park Jain Housing & Construction Ltd +91 8870701850
JAMALS GRANDEUR
Springdale
RAMAS ENCLAVE
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location
-
Type of Units
- 1 and 2 BHK
No. of Units
-
15
Area
-
515 - 895 sqft
Completion
- Ready to occupy
Amenities
-
Builder Contact
Velappanchavadi 2 and 3 BHK 96 940 - 1,415 Sft December 2011 KPA, open air theatre, Gym Jamals Enterprises +91 9840787792
Kolapakkam - Porur 1, 2 and 3 BHK 25 500 - 1,500 sqft Ready to occupy Gated community, covered car park Emerald Home Makers +91 9841211040
Porur
Maduravoyal 2 and 3 BHK 24 1,105 - 1,560 Sft December 2011 Indoor/outdoor play, KPA, video intercom, smart card entry Natwest Constructions 044-24340716
Akshata
Location
- Manapakkam - Porur
Type of Units - 2 and 3 BHK No. of Units
- 16
Area
- 938 - 1,299 sqft
Completion
- March 2012
Amenities
- Gym, SF, health club
- Siva Sakthi Castle
Builder
- Royal Splendour
- +91 9841002269
Contact
- +91 9884080480
Covered car parking
VGN FERNDALE
OPULENCE VILLE
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder -
Mogappair 2 and 3 BHK 160 740 -1,500 sqft Ready to occupy Smart Card Access System, Gym, DG power back up VGN Developers +91 9600010044
Contact
Porur 3 BHK villas 756 1,340 sqft May 2011 Covered car parking Rajeswari Foundations - +91 9840912528
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
52
Chennai Realty I June 2011
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Top 100 Projects Area : Chennai - West SUN STONE
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Mogappair 2 and 3 BHK 92 630 - 1,340 sqft Ready to occupy Generator back up, KPA, walking track, recreation hall Vinoth Builders +91 9840903355
AALAYUM ORCHARD
CITY’S VENUS
Location
- Kattupakkam
Location
-
Type of Units
- 2 BHK
Type of Units
- 1 and 2 BHK
No. of Units
- 6
No. of Units
-
6
Area
- 814 - 940 sqft
Area
-
690 - 940 sqft
Completion
- May 2011
Completion
- May 2011
Amenities
- Covered car parking
Amenities
-
Builder
- Aallayum Associates
Builder
- City Homes
Contact
- +91 9381041424
Contact
- 044-23767147
SREEROSH SILVERSTONE
Amaar Park View
PANACHE
Location
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
- Kilpauk
Type of Units - 2, 2.5 and 3 BHK No. of Units - 20 Area
- 1,215 - 1,555 sqft
Completion - December 2011 Amenities
- Gym, terrace party area
Builder
- Sreerosh Properties
Contact
- 044-42080520
MMDA Colony - Arumbakkam 2 and 3 BHK 8 1,157 - 1,484 sqft December 2011 Covered car parking Amaar Foundations 044-28341510
ANANDAM’S PLATINUM
Kattupakkam
Covered car parking
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Iyyappanthangal 1, 2 and 3 BHK / duplex, twin and independent houses 30 523 - 1,575 sqft September 2011 GAR, commercial hall Anandam Foundations +91 9840834403
Saai’s Abhinayam
PH Road, Arumbakkam 2 and 3 BHK 70 1,184 - 1,826 sqft December 2012 Power back up, KPA Arihant Foundations & Housing Ltd 044-42244444
RAHUL
Location
- Valasaravakkam
Type of Units - 2 and 3 BHK No. of Units
- 8
Area
- 715 - 1,290 Sft
Completion
- Ready For occupation
Amenities
- Covered car parking
Builder
- Saai’s Foundations
Contact
- +91 9840960204
KG SIGNATURE CITY
Location
- Anna Nagar
Type of Units
- 2 and 3 BHK
No. of Units
- 6
Area
- 1,000 - 1,330 sqft
Completion
- November 2011
Amenities
- Car parking,
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
MPH, KPA Builder
- Rahul Associates
Contact
- 044-42077537
Mogappair 2 and 3 BHK 1,500 925 - 1,400 sqft Stilt + 19 and Stilt + 17 A and B Block - 2013 C and D Block - 2012 CH, SF, KPA, SP, GAR KG Foundations 044-24992042
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
53
Chennai Realty I June 2011
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Top 100 Projects Area : Chennai - Outer FRANGIPANI
METROPOLIS
TEMPLE GREEN
AMANYA
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Pudupakkam Inside Siruseri IT Park 2 and 3 BHK 332 760, 765, 780 sqft December 2012 Gym, SP, GAR Arihant Foundations & Housing Ltd 044-42244444
CHENNAI PATTINAM
ANANTYA
Location - Thiruporur - Off OMR Type of Units - 2 and 3 BHK No. of Units - 2,608 Area - 1,075 - 2,250 Sft Completion - June 2011 Amenities - SM, SP, CH, SCH (DAV) Builder - Ceedeeyes Infrastructure Development Pvt.Ltd Contact - 044-24413368
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Maraimalai Nagar, GST Road, Thirukachur Village 2 and 3 BHK 436 395 - 1,950 sqft December 2011 SP, Gym, KPA Akshaya Homes +91 9790951818
Navalur, OMR 2 and 3 BHK 208 1,250-1,804 Sft Phase I June 2011, Phase II April 2012 CH, SP, SM, KPA, MH Indus Cityscapes 044-26401166
Oragadam 1, 2 and 3 BHK 658 575 - 1,280 sqft December 2012 GAR, Gym, KPA, ATM, DS, SP Arun Excello 044-22332288
SPRING MEADOWS
Iris Court
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location
Thalambur - Off OMR 2 and 3 BHK 192 824 -1,105 Sft April 2012 CP, SP, CH Jain Housing Construction Ltd +91 8870701850
Nellikuppam-Thiruporur, Guduvanchery Road 1, 2 and 3 BHK 1,008 606-1,139 Sft Phase I December 2012, Phase II December 2013 CH, SP Asvini foundations +91 9841633669
- Maraimalai Nagar
Type of Units - 2 and 3 BHK No. of Units
- 746
Area
- 986 - 1,467 sqft
Completion
- June 2013
Amenities
- SF, KPA, CH
Builder
- Mahendra Lifespaces
Contact
- 044-28190800
MANTRI SYNERGY
PURVA WINDERMERE
Location
Location
- Pallikaranai
Type of Units
- 2, 3 and 4 BHK
No. of Units
- 756
Area
- 1,200 - 2,650 sqft
Completion
- December 2013
Amenities
- Gym, MH, SP, Res
Builder
- Puravankara
Contact
- 044-24997890
- Padur, OMR
Type of Units - 2 and 3 BHK No. of Units
- 765
Area
- 1,385 - 1,800 sqft
Completion
- April 2011
Amenities
- COH, SP
Builder
- Mantri Developers
Contact
- 044-27474103
Projects Limited
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 I June 2011
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Top 100 Projects Area : Chennai - Outer OURANYA BAY
OPALINE
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - 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 CH, SP, Gym, Sch True Value Homes +91 9884340005
Navallur, OMR 1, 2, 3 and 4 BHK 1,200 (approx) 564 - 3,600 sqft June 2011 Club Opal Olympia Infratech Pvt Ltd +91 9094020993
SWARNABHOOMI
ESTANCIA
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
ECR 2, 3, 4 BHK and pent houses 1,200 638 - 3,040 Sft Ready to occupy ATM, SP, Gym, DS, COH, KPA, SF Marg Properties +91 9500076844
Guduvanchery 3 Bhk 391 1,510 - 1,860 Sft Phase I Ready to occupy Phase II 2012 Club House with 101 amenities, 4 Star Hotel, COH L&T Arun Excello Realty Private Ltd +91 9566099558
JAINS INSELI PARk
SABARI'S SERENITY
REAL VALUE NEEL KAMAL
Unitech - Uniworld City
Location - PADUR, OMR Type of Units - 2 and 3 BHK No. of Units - 936 Area - 1,176 -1,755 sqft Completion - December 2011 Amenities - CH, Gym, SP, KPA, GAR Builder - Jain Housing & Construction Ltd Contact - +91 8870701850
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location - (Vandalur – Kelambakkam Road) Type of Units - Unihomes I / Unihomes II No. of Units - 1,024 / 560 Area - 700 & 715 / 997, 999 and 1,011 sqft Completion - May 2012 Amenities - Gym, SCH, ATM, Medical Facility Builder - Unitech Contact - +91 9500059595
Siruseri, OMR 1, 2 and 3 BHK 864 580-1,027 sqft Phase I December 2011, Phase II December 2012 SP, Gym, MPH, KPA Sabari Realtors Pvt Ltd 044-24617775
Siruseri, OMR 1, 2 and 3 BHK 559 510 - 1,055 sqft June 2011 Gym, DS, MPH, Joggers Track Real Value Promoters Pvt Ltd 044-66343536
THE ROSEDALE
ABODE VALLEY III
Location - Type of Units - No. of Units - Area - Completion - Amenities - Builder - Contact -
Location
Padur, OMR 2 and 3 BHK Phase I - 372 800-1,600 Sft June 2011 CH, SP, GYM, KPA, COH, Rose Garden Eta Property Developers Pvt Ltd 044-3911 3900
- Potheri, GST Road
Type of Units - 3 BHK No. of Units - 320 Area
- 1,125 - 1,550 Sft
Completion - June 2012 Amenities
- SP, ATM, GYM, SF,
Mini Theatre Builder
- Lancor Properties Ltd
Contact
- +91 9884072936
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
55
Chennai Realty I June 2011
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Commercial Projects KAZIPATTUR, OMR
KANDANCHAVADI, OMR
PERUNGUDI, OMR
KARAPAKKAM, OMR
Project
Project - Plate Area Sqft - Common Amenities - Status - Builder - Contact -
Project - Plate Area Sqft - Common Amenities - Status - Builder - Contact -
Project
- HQ
Plate Area Sqft - 20, 337 x 5 (floors) Common Amenities
- 3 elevators, DG back up,
protected car security Status
- Ready to occupy
Builder
- Akshaya Homes
Contact
- +91 9840858811
Tvh Agnitio Park 40,000 - 80,000 x 8 (floors) 1,040 car parking, health club and ATM, landscaped roof garden with dining area Ready to occupy True Value Homes +91 9176942000
NELSON MANICKAM ROAD
Greams Road
GUINDY
Project - Plate Area Sqft - Common Amenities - Status - Builder - Contact -
Project - Plate Area Sqft - Common Amenities - Status - Builder - Contact -
Project
Lalah Towers 40,000 x 12 (Floors) DG back up, car parking, lift March 2012 Ramaniyam Real Estate Ltd +91 9841271871
Prestige Palladium 30,000 X 14 ( Floors) Power back up, G+12, air conditioners July 2011 Prestige Estates Projects Ltd 044-28154088
SAIDAPET Project
100 percent power back up, 1,000 sqft individual car parking Ready to occupy SSPDL +91 9940042608
Common Amenities
- Power back up, parking
Status
- July 2011
Builder
- Vishranthi Homes
Pvt. Ltd Contact
- 044-24314515
NELSON MANICKAM ROAD
- Olympia Tecnology Park
Plate Area Sqft - 150, 000 sqft Common Amenities
- Melaram Towers
Plate Area Sqft - 186, 478 x 8 (floors)
- car parking, 100 percent
power back up, security Status
- Ready to occupy
Builder
- Khivraj Tech Park Pvt. Ltd
Contact
- 044-43563773
Project - Navin's Presidium Plate Area Sqft - 4,000 - 5,000 x 11 (floors) Amenities - Automated high-speed lifts Status - Ready to occupy Builder - Navin Housing & Properties (P) Ltd Contact - 044-43207777 TEYNAMPET
- Landmarvel
Project
- Doshi Raj Towers
Plate Area Sqft - 5, 299 x 3 (floors)
Plate Area Sqft - 6, 910 x 3 (floors)
Amenities
Common
- Power back up,
parking Status
- Ready to occupy
Builder
- Landmarvel Constructions
Contact
- 044-2446 4483
ThinkSmart buySmart
56
Matrix Tower 23, 800 x 6 (floors)
Chennai Realty I June 2011
Amenities
- Generator, car parking,
power back up, security Status
- Ready To occupy
Builder
- Doshi Housing Ltd
Contact
- 044-43539160
Chennai Realty Real Estate - Redefined !
www.chennairealty.biz
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 7,000 8,000 6,500 6,000 4,500 3,800 7,000 3,500
17,000 14,000 10,000 16,000 20,000 15,000 6,500 4,500 14,000 4,000
16,000 15,000 10,000 14,000 14,000 12,000 9,000 8,000 14,000 8,000
26,000 21,000 15,000 24,000 26,000 18,000 18,000 12,000 19,000 14,000
250 - 350 250 - 300 250 - 275 300 - 400 400 - 500 150 - 200 80 - 120 70 - 120 250 - 300 65 - 75
3,000 7,500 9,000 8,000 3,800 3,500 3,500 8,000 2,800 6,000
4,000 10,000 14,000 11,000 4,500 4,200 4,000 12,000 3,600 7,000
8,000 7,000 16,000 7,000 7,000 6,500 6,000 12,000 6,000 6,000
12,000 16,000 26,000 14,000 10,000 8,000 7,500 24,000 8,000 15,000
80 - 100 200 - 250 250 - 350 225 - 300 70 - 80 65 - 70 65 - 70 250 -300 60 - 70 90 - 110
5,500 7,500 3,500 3,700 9,000 3,500 9,000 8,000 5,000 6,000
7,000 12,500 4,500 4,500 14,000 4,500 15,000 12,000 6,500 7,500
8,000 9,000 7,000 8,000 15,000 7,500 15,000 9,000 7,500 8,000
14,000 18,000 1,500 11,000 25,000 15,000 30,000 23,000 16,000 20,000
85 - 95 140 - 110 60 - 70 100 - 120 250 - 300 80 - 110 275 - 400 250 - 350 120 - 150 150 - 180
6,000 6,500 6,500 6,500 4,500 10,000 3,700 6,000 8,000 5,000
7,000 7,500 8,000 10,000 5,400 15,000 4,200 7,000 12,000 6,000
8,000 8,000 8,000 7,000 6,500 16,000 5,000 9,000 9,000 7,500
17,000 17,000 17,000 22,000 15,000 30,000 80,00 18,000 20,000 17,000
180 - 225 180 - 225 180 - 230 200 - 250 70 - 80 250 - 350 55 - 60 110 - 130 180 - 270 120 - 130
1,800 2,700 2,100 3,000 2,700 2,500 2,100 2,500 2,000 1,800
2,500 3,300 2,700 4,000 3,200 3,000 2,400 3,600 2,500 2,000
4,000 5,000 5,000 8,000 7,000 6,500 5,000 5,000 4,500 3,500
7,000 8,000 7,000 16,000 15,000 14,000 7,000 8,500 6,000 6,000
7 - 14 10 - 14 12 - 18 35 - 45 25 - 35 20 - 30 12 - 25 20 - 25 15 - 20 8 - 12
CENTRAL Adyar Besant Nagar Egmore Gopalapuram Kotturpuram Neelankarai Nandambakkam Perungudi Royapettah Sholinganallur North Ambattur Aminjikarai Anna Nagar Chetpet Kolathur Madhavaram Nolambur Purasawalkam Poonamallee Villivakkam South Alandur Ashok Nagar Medavakkam Nanganallur Nandanam Tambaram East Teynampet T. Nagar Velacheri Kottivakkam West Arumbakkam Choolaimedu K K Nagar Kodambakkam Maduravoyal Nungambakkam Porur Saligramam Vadapalani Virugambakkam Outer Puzhal Pammal Tiruvallur Siruseri Padur Kelambakkam Sriperumbudur Vandalur Singaperumal Koil Oragadam
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Cityscape
Subscribe Today !
Commercial Rate Watch Sub Markets
Average Rent in May 2010 (` / sqft per month)
CBD (Anna Salai, Nungambakkam, RK Salai, T Nagar, Egmore, Alwarpet) Grade A
70 - 100
Grade B
55 - 65
Off CBD (Guindy, Kiplauk, Taramani, Adyar, Anna Nagar) Grade A
50 - 65
Grade B
42 - 47
Suburban Business District (Velachery, Perungudi, Mount Poonamallee Road) Grade A
35 - 45
Grade B
30 - 40
Peripheral Business District (Perungalathur, Sholinganallur, Siruseri, Ambattur, GST Road) Grade A
35 - 40
Grade B
25 - 35
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)
Pricing ` 150 ` 275 ` 500 ` 700
Construction Material Price Index * Commodity CEMENT
Unit Measure Per 50 kg bag
Avg Rate in May 2010
STEEL
Non ISI 6MM / ton
` 38,000
STEEL
TMT 8MM dia / ton
` 42,100
` 275
STEEL
10-25 MM dia / ton
` 40,900
STEEL
RMS / ton
` 44,500
STEEL
STIRRUPS / ton
` 45,500 ` 46,800
STEEL
VSP/SAIL 10mm dia / ton
BRICKS
Per piece
`6
RIVER SAND
Cubic feet
` 35
FLY ASH
Per ton (Ennore)
` 100
BLUE METAL
20mm / cubic feet
` 26 to ` 28
BLUE METAL
40mm / cubic feet
` 24
QUARRY DUST
0 – 2 mm / cubic feet
BITUMEN
GRADE 80/100
` 17 ` 37,558
BITUMEN
GRADE 60/7O Per day
` 400 to ` 500
LABOURER (MAN)
Per day
` 250 to ` 300
LABOURER (WOMAN)
Per day
` 200 to ` 250
PAINTER/PLUMBER
Per day
` 400 to ` 450
CARPENTER
Per day
` 400 to ` 500
Chennai Realty I June 2011
Keerthana +91 8754489129 subscription@chennairealty.biz
` 36,606
MASON
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Albert Einsten
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Cityscape
Home Loan Reckoner Loan Amount Below ` 25 Lakh
Loan Amount Above ` 25 Lakh
No.of Years
No.of Years
BANK 5
10
15
20
5
10
15
20
State Bank of India
9.50
9.50
9.50
9.50
10.25
10.25
10.25
10.25
Allahabad Bank
10.25
10.75
11.00
11.25
10.50
11.50
11.75
12.00
Bank of India
10.00
10.00
10.25
10.25
10.25
10.50
10.75
11.00
Andhra Bank
10.75
10.75
11.75
11.75
12.50
12.50
12.50
12.50
Union Bank of India
10.50
10.75
10.75
11.00
11.25
11.50
11.50
11.75
Indian Overseas Bank
10.00
10.00
10.00
10.00
10.25
10.50
10.50
10.75
Vijaya Bank
10.50
10.75
11.00
11.00
11.25
11.50
11.75
12.00
Central Bank of India
10.50
10.75
11.00
11.00
11.50
11.75
12.00
12.00
Axis Bank
10.00
10.00
10.25
10.25
10.75
10.75
10.75
10.75
Canara Bank
10.50
10.75
11.50
11.50
11.00
11.25
11.25
11.75
Corporation Bank
10.50
10.75
10.75
11.00
11.25
11.50
11.50
11.75
Bank of Baroda
10.00
10.25
10.25
10.50
10.75
11.00
11.00
11.25
Indian Bank
10.50
10.75
10.75
11.00
11.00
11.00
11.50
11.75
Oriental Bank of Commerce
10.50
10.75
11.00
11.00
11.00
11.50
11.75
11.75
Punjab National Bank
8.75
9.00
9.25
9.25
10.50
10.75
10.75
11.00
ICICI
9.75
9.75
9.75
9.75
10.50
10.50
10.50
10.50
HDFC
10.25
10.25
10.25
10.25
10.75
10.75
10.75
10.75
IDBI
10.00
10.00
10.00
10.00
11.00
11.00
11.00
11.00
HSBC
11.00
11.00
11.00
11.00
11.75
11.75
11.75
11.75
South India Bank
13.40
13.65
13.65
13.90
14.15
14.15
14.15
14.15
LIC Hfl
9.90
9.90
9.90
9.90
10.35
10.35
10.35
10.35
India Bulls
10.25
10.25
10.25
10.25
10.50
10.50
10.50
10.50
Sundaram Home Loans
10.25
10.25
10.25
10.25
10.75
10.75
11.25
11.25
ThinkSmart buySmart
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Chennai Realty I June 2011
Chennai Realty Real Estate - Redefined !
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Handy Guide Products Air Purifier Aroma Sense Inc Contact: +91 9840078989 South India Chem Ind. Contact: 044-25382134
Curtains Curtains by Rashtogi Contact: 044-28151431 Indroyal Curtains Contact: 044-28268966
Metal Craft Paras Metal Craft Contact: 044-25391239 Vega Metalcraft Contact: 044-28110133
Home Appliances Butterfly Home Appliances Contact: 044-26260801 Chennai Home Appliances Contact: +91 9444125305
Bedding Farook Bedding Contact: 044-24749533 Raman Bedding Contact: 044-23744301
Home Security System VG Electronics Contact: +91 9381009080 Access Security Systems Contact: 044-32219146
Granite & Marble Palani Marbles & Granites Contact: 044-23782429 Goyal Granite & Marbles Contact: 044-65184116
Pumps Best Pumps India P Ltd Contact: 044-42170732 Sugun Industries Contact: 044-25342273
Audio Visual Onkyo Contact: 044-42111649 The Bose Store Contact: 044-28330970
Lighting Satco Lighting Contact: 044-26152724 Veer Lighting Contact: 044-25362994
Flooring - Wooden/Tiles Aashi Flooring & Decors Contact: 044-24983110 Wintek Floor & Decors Contact: 044-24732887
Furniture Godrej & Boyce Mfg Contact: 044-66544444 Amson & Co Contact: 044-42920900
Carpet Unitex Carpet Contact: 044-24729536 Ashwin Carpets Contact: 044-24983110
Home Decor Abi Decor Contact: 044-23743286 Rehka Decor Contact: 044-24758199
Kitchen Components Faber Galleria Contact: 044-28110932 Impulse India Contact: 044-243306666
Water Amaravathi Water Suppliers Contact: +91 9840466606 Babu Water Suppliers Contact: 044-26265266
Electrician Power Services Contact: 044-65465121 GS Mani & Sons Contact: 044-25368301
AC Service Glacier AC Service Contact: 044-4541 0109 AC Service Contact: +91 9841152629
False Ceiling Contractors Shanmugam Interiors Contact: 044-32470922 Reenas Contact: 044-30522686
Doors and Windows Halcyon Interiors Contact: 044-24331631 The Door World Contact: 044-23634404
Plumbing Contractors Kumaran Plumbing Contact: 044-24336821 ME Plumbing Works Contact: +91 9444049387
Painters Goodness Nerolac Contact: 044-28522470 Western India Painting Contact: 044-28156499
Vaastu Consultants Laxshmipathy Contact: 044-22530066 Pandit Govardhan Contact: +91 9444057818
Florist Floral Hut Contact: +91 9444048923 Suman Florist Contact: 044-28271294
Swimming Pool Experts Aqua world Contact: 044-43512296 Clearwater Pools Contact: 044-24314697
Carpenters Ponraj Woodwork Contact: +91 9094069404 Highland Woodwork Contact: 044-26262181
Architects Jeevan & Associates Contact: 044-26420637 Logan's Architect Contact: 044-24421972
Upholstery Majestic Foam Rubbers Contact: 044-28522813 Springfield Contact: 044-27498005
Water Tank Cleaners Chennai Tank Cleaners Contact: 044-42045786 Globe N Clean Contact: 044-22351160
Building Renovation Ace Contractors Contact: +91 9841061999 A-cube Contractors Contact: +91 9791084079
Landscaping Lavender Landscape Contact: 044-22583841 Rose Greenery Contact: 044-42142587
Sun Control Films Shribalaji Contact: 044-24915697 Sun Films Contact: 044-24983110
Services
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Chennai Realty I June 2011
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Arihant presents lifestyles apartments for the discerned few... You !
75 Stylish Apartments 2 / 3 BHK PH Road, Arumbakkam
332 Apartments 2 / 3 BHK Pudupakkam, Siruseri
Our Other Projects
Independent & Semi-Independent Villas
2 / 3 BHK Apartments
2 / 3 BHK Apartments
off GST Road, Maraimalai Nagar
off OMR - Navalur
Porur - Poonamallee Road
Plotted Development
off OMR - Navalur
For further details Call : 044 - 4224 4444 Mob: 9841544444 / 9841855555 www.arihantfoundations.com Corporate Office Old #25 New #3 Ganapathy Colony, 3rd street off Cenotaph Road, Teynampet, Chennai - 600 018 61
Chennai Realty I June 2011
Registered Office New # 271 Old #182 Poonamallee High Road, "Ankur Manor", 1st floor, Off McNichols Road, Kilpauk, Chennai - 600 010, India.
www.chennairealty.biz
Turf Bar
Turf Bar, Le Waterina The Boutique Hotel, 35, Kaveri Nagar (near Bella Ciao), Waterland Drive, Thiruvanmiyur, Kottivakkam Beach, Chennai - 600 041. Contact: 044-24515435
G Home
C
atering to the social circuit that is on overdrive, G Home has launched a special range of glass products this summer from renowned glass makers Walther, Riedel Glass and Krosno SA. Besides this, G:Home's own selection of top-quality glassware lends a uncomparable touch to the entire collection. The range on offer comprises water glasses, whiskey glasses, wine glasses, vases, juice jars, cocktail glasses, champagne glasses, flower vases, snack bowls, cake platters, martini glass, wine glasses and ice-cream bowls. Besides the enviable price tags (` 300` 4,200), the designs and cuts will have you spoiled for choice! G Home, Gatsby Village, East Coast Road, Neelangarai (044-24495010 / 24495020) and 1/22 Radhakrishnan Salai (044-28470990).
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Chennai Realty I June 2011
W
ith a spectacular view of the sea and amazing service, Le Waterina has already become one of the most popular hotels in the city. To add a feather to its cap, the hotel launched the city's most-exclusive resto-bar dedicated to sports - Turf Bar. Divided into four separate sections, this unique concept bar allows fans to enjoy their favourite sports – football, cricket, Formula One and tennis – without any distractions. The ambience of this bar has been designed with a lot of attention to detail. Decorated with football and basketball jerseys, team flags, bandanas and even cushion covers with team logos, the entire atmosphere is sporty and charged with enthusiastic energy! The bar serves an amazing range of cocktails, snacks as well as a scrumptious range of all-day dining combos. With screens set up in each corner to air all the live sports action, this is one place where the city's sport-lovers are sure to unite and cheer for their favourite teams during the big matches!
SPEND
DINE
City Musing
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REGISTERED WITH THE REGISTRAR OF NEWSPAPER FOR INDIA UNDER NO. TNTAM/2011/0086 POSTAL REGISTRATION NO. TN/CH(N)/326 CHENNAI REALTY.BIZ JUNE 2011
Online edition of Chennai's Exclusive Real Estate Magazine
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