Posts Tagged ‘South Chennai’

Boost in Residential Demand of Poonamallee

Thursday, March 14th, 2013

In the Past few months, Poonamalle, a suburb in South Chennai, sees a boost in residential property segment. The reason behind it is its easy access, proximity to IT hubs and connectivity to major parts of the city. The apartments are available within the price range of Rs 3,000-Rs 4,000 per square feet. Apart from a reasonable price range, the locality also offers propinquity to IT hubs such as DLF and Larsen & Toubro InfoTech. Even though end users are driving the residential demand here, investors have also shown a keen interest in the locality. Several completed and on-going projects by developers such as Godrej Properties, Golden Homes, Roma Housing, Kaalash Foundations, Chandru Gardens, etc are present in the Poonamallee.

Several schools, colleges, malls, etc are coming up in the locality. Moreover, physical infrastructure such as the Outer Ring Road is to be operational in another two years. This would enhance the connectivity of the locality. According to N R Amarnath, managing director, Smart Choice Realty, “The prices for apartments have almost doubled in the past two years and a similar trend are expected in the future with both social and physical infrastructure coming up in the area”.

21% Hike in Property values in Perumbakkam, Chennai

Tuesday, February 5th, 2013

The real estate market of Perumbakkam, a suburb in South Chennai, is witnessing 21% hike in its property values. Perumbakkam is 2km away from Old Mahabalipuram Road (OMR), which is equidistant from all prime IT hubs such as Velacherry, Sholinganallur, upcoming ELCOT SEZs and the commercial Thoraipakkam. Its strategic location and the Government’s policy of premium FSI which came in 2010 is the reason behind the price rise in Perumbakkam. According to the MagicBricks.com data, the locality has witnessed a 21 per cent rise in property prices in the Oct-Dec, 2012 quarter. Looking at the prospects of the locality, many new developers have entered the realty market including Indiabulls developers, Embassy Property Developments Ltd, Renuka Foundations, Chettinadd Housing and Rajarathanam Constructions. Thus, Perumbakkam seems to be good for all buyers, due to its outstanding connectivity, proximity to commercial locations and social infrastructure.

 

TVH launches luxury apartments in Chennai

Tuesday, July 31st, 2012

True Value Homes (TVH), a Chennai-based property developer, has recently launched a high-end luxury apartment project named Quadrant.

The project is located in Adyar, one of the most sought-after residential localities in south Chennai.

Spread over about 2.2 acres, the project will offer 100 residential units in a 18-storied building with high-end provisions with a beautiful view overlooking Adyar river. The price of the apartments starts from Rs 3 crore.

The company is confident of getting the right buyers given the large land parcel on which TVH is launching this project. The project will have a clubhouse with a spa, swimming pool and gymnasium.

Hot WEATHER in Chennai

Thursday, May 5th, 2011

The dog days of summer (kathri) have begun and it is not just the temperature that is rising. The city’s power demand has shot up by an average of 20% compared to last year. And, most of this consumption is in South Chennai — by domestic, industrial and commercial consumers. On Wednesday, the temperature touched 40 degrees Celsius in the city

For the past few days, industry associations have been complaining about the three-hour load shedding in the districts when it was just one hour in the city. Now, with demand increasing every day, it seems the city may have to bear outages for longer periods.

On May 1 and 2, 2010, the city’s power demand was 1,687 mega watts (MW) and 1,782 MW, respectively. On the same days this year, the demand was 2,041 MW and 2,279 MW. “On these two days, the percentage of increase compared to 2010 was 20.98% and 27.89 %,” said Tamil Nadu Electricity Board (TNEB) chairman C P Singh.

The demand began fluctuating during April-end and in the last week it was above 2,100 MW. “From May it started increasing steadily. The cooling effect of the rain has worn off and the demand will increase steadily now as more people start using air-conditioners. This could lead to overloading and, invariably, power cuts,” said a senior TNEB official.

Even in the city, there is a demand disparity. While North Chennai consumes 15 million units a day, it is 25 million units in South Chennai. These two region mark a 17 % and 29 % growth respectively and this varies from day to day

 

 

More News:  timesofindia

 

Chennai goes upmarket

Wednesday, December 29th, 2010

Real-estate agents says that large stocks of high-end properties will continue to hit the market — some of them include projects by TVH in Kotturpuram, which is envisaged as a ‘really upmarket project’, and by ETA in Adyar.

And there is a keen demand for residential units of about 2,000 sq.ft in the Rs 2-2.5 crore segment within the city. But the supply is yet to catch up with demand.

For others on a smaller budget, the IT corridor to the south of Chennai is a real option now. The social infrastructure, including schools, entertainment and leisure, healthcare, is in place. The common man will have to look to the south

Mr Raman believes that 2011 will be a ‘gamechanger’ for the Chennai market with the large townships in the suburbs to the south by DLF and other large players becoming thriving communities.

Read moreThe Hindu-Business Line