MARG Swarnabhoomi – the biggest home inventory in South India


With 7200 homes launched & 7700 in pipeline, MARG Swarnabhoomi is the biggest home inventory in South India. With a travel time of 75 minutes during both peak & non-peak hours from Chennai and just a 45 minute drive from Siruseri, it is Chennai’s only residential habitat offering affordable homes priced at Rs. 20 Lakhs, with all city specific amenities.

Spread over 172 acres these homes are supported by social infrastructure comprising of industries, education, multi-services & leisure activities. At present, more than 250 families are living at MARG Swarnabhoomi.

At MARG Swarnabhoomi, around 3000 units covering over 2 million sq.ft. have been sold. Education population which is poised to grow to a level of 1500 in 2013-14 is a major demand driver of residence. Growth of education population from the current level of 900 to 4000 by FY16, along with the Light Engineering Services, IT Training centres & demand from Kalpakkam will continue to drive the residential sale.

For Website :http://www.margswarnabhoomi.com/

Residential projects at MARG Swarnabhoomi

Maha Utsav –   Affordable homes with a sea / lake view – more than 400 apartments sold

Maha Utsav is a DTCP approved 581 units, mid-rise apartment project with 2 & 3 BHK starting at Rs. 12.97 lacs and construction is underway in full swing. With superior Design and top-notch Amenities, Maha utsav is a sound investment. It is an ideal option for those on the lookout for ‘value for money’ apartments-rightly priced, without compromising on essential features. Each apartment features 3 sided ventilation, spacious rooms, a balcony and access to modern convenience facilities like club house, swimming pool etc.

For more details on Mahautsav, click here

Four Seasons – Contemporary hi-end living

A ’28 floor’ high rise consisting of around 4000 apartments, Four Seasons will be the tallest landmark on ECR with a sea & lake view & multiple views of the scenic beauty around including  Bay of Bengal , several water bodies and undisturbed lavish nature around. Four Seasons indisputably is emerging as an enviable product starting at a price of Rs. 21 lakhs. Construction for 800 apartments will begin soon.

For more details on Four Seasons, click here

Aayush – The joy of owning your dream apartment – more than 400 apartments sold

It’s time to make your dream of owning a home a reality. The 1300 apartment Aayush is priced just right to be a great investment. It comes packed with great amenities like children’s play area, Swimming pool, clubhouse and gym. Ayush represents dream homes within your budget. More than 400 apartments are sold.Construction to begin soon.

Navaratna – The joy of designer homes – SOLD OUT

MARG Navaratna is an exquisitely crafted residential apartment complex & boasts of superior construction of international quality. The project is designed to be eco-friendly and great importance has been laid on long term value with rain water harvesting, solid waste management and other new age recycling technology.

Navratna Phase 1: More than 200 happy families living in Navratna Phase I. Construction completed.
Navratna Phase 2: 250 units have been handed over in Navratna Phase II. Construction completed.

Utsav – The Joy of a value conscious home – SOLD OUT

With 720 apartments at a starting price of Rs. 14 lacs, Utsav represents cost-effective smart apartments loaded with great features cum amenities .It promises to be the new defining address for discerning home seekers. Construction is nearing completion.

Swarnabhoomi Cityscapes is a unique bouquet of serviced villa plots called “Bay view”, “Lake View Garden” & “Royal Orchard”. Located in the vicinity of MARG Swarnabhoomi, on the scenic ECR near Chennai, 225 acres have been earmarked with 2425 villa plots. More than 250 plots covering over 4.3 lac sq ft have already been sold.

Swarnabhoomi Cityscapes is set to address the emerging requirement for quality and high appreciation plots in Chennai. These plots enjoy access to all shared facilities at MARG Swarnabhomi. Just a step away from the proposed industrial projects of NTPC and BGR Energy, they are also close to the proposed Southern Railway station at MARG Swarnabhoomi.

“Bay View” villa plots: Premium sea view plots starting from Rs. 11.4 lakhs* per ground & located just 1 km from the ECR beach (close to Cheyyur Lake). Being on the entertainment corridor, just 2kms from TTDC Boat House (Mudaliarkuppam) and the proposed water sports & Theme Park, these villa plots are expected to see notable appreciation.

Surrounded by nature’s freshness and lush greenery, “Lake View Garden” plots are premium pieces of land which comes with a price range starting from Rs. 7.57 Lakhs* per ground. Located on ECR with close proximity to Koovathur hospital and near to the proposed BGR Energy Plant, Lake View Garden is a great investment opportunity.

“Royal Orchard” villa plots are in the midst of serene nature, tranquil environment and its beauty. Located next to Tapovan Ultra Luxury Villas by MARG ProperTies with a price range starting from Rs. 5.59 Lakhs* per ground, Royal Orchard offers garden plots off ECR , just 18kms from Maduranthagm Railway station.

Additional plotted development being planned in 136 acres with a sale value of Rs. 120 crores.

To know more, visit http://www.swarnabhoomicityscapes.com/

Greater Swarnabhoomi

The strategically located villa plots are in sync with the master vision on holistic regional development of 10,000 acres around MARG Swarnabhoomi, termed by us as “Greater Swarnabhoomi”, a concept which has its roots in urban decongestion & in the near future will create a spread effect with a holistic mega urban agglomeration zone.

Greater Swarnabhoomi will act as a reservoir & single point of convergence for all educational institutions in and around Chennai, Chengalpattu, Tiindivanam, and its sphere of influence will stretch upto Pondicherry.

To know more on Greater Swarnabhoomi, http://greaterswarnabhoomi.com/

Will I ever own a house?


Marg Swarnabhoomi,Marg Swarnabhoomi Aayush Apartment,Low budget apartments in chennai,low budget flats in chennai

Marg Swarnabhoomi Aayush Apartment starting at 9 Lakhs* – Low budget apartments in chennai

Maniraj, a paper vendor on Velachery Main Road, had a tough time last year when he had to vacate his house. Until then he was paying Rs. 1,200 for a 350 sq.ft dwelling unit near Velachery Lake. The landlord raised the rent to Rs.6,000 and Maniraj and his family of four could not afford it. After great difficulty, he found a 200-sq.ft tenement in one of the labyrinthine lanes. “I now pay Rs. 4,500 per month, which includes electricity charges. This is more than what I spend on food every month,” he lamented.

The condition of my colleague is better, but not much toz rejoice. Two years ago, after a long search, she bought an apartment 20 km away from the city. Anything closer was pricy. As a result, she spends three hours every day to commute between home and office.

With apartments inside the city priced between Rs.10, 000 to 15, 000 per sq. ft, and rentals spiraling, it looks only the gentry can live within the city. The middle class must scurry to the suburbs and the poor must slip into the crevices in between.

The mounting complaint is why does Chennai not produce affordable housing?

The government authorities shrug it off and say “it is a market phenomenon.” On the other hand, private players feel that they cannot solve social problems. “It cannot be defined,” the skeptics argue.

Shifting blame and leaving people in the lurch cannot continue. Providing affordable housing is an obligation of the state and it has to find ways to solve it.

Is affordability difficult to define?

After a careful study, the government of India has defined affordability as follows: for lower income group, apartment should not exceed four times the household gross annual income. For the middle-income group, the prices should not exceed five times the gross annual income.

Similarly, the rent should not exceed 30 per cent of the monthly salary for the lower income group. For the middle income, it should not exceed 40 per cent.

In other words, for a middle-income family, which earns Rs. 30,000 a month, any apartment costing more than Rs.18 lakh is unaffordable. At current market prices, this income can only fetch an apartment that is less than 450 sq. ft. The city does not offer many such small-sized apartments.

The condition of the poor is worse. To many who earn about Rs.10, 000 a month, apartments priced more than Rs. 5 lakh is unaffordable, and there is no housing project in the city that takes care of this group.

What is the solution?

Multiple strategies are required. Existing efforts such as reserving 10 per cent of the developed land for affordable housing have not delivered. Apart from reviewing them, new and innovative approaches are needed.

One model that is worth looking at is the concept of Community Land Trust (CLT). In CLTs, a not-for-profit organisation builds houses on subsidized land and gives them at a price much below the prevailing market rate. The condition is that when the buyer resells the apartment, the price has to be below the market rate prevailing then. This ensures that the subsidies are passed on to the subsequent buyers and the prices are kept at affordable levels for a longer period.

This model can be tweaked to suit local conditions. The State government instead of mindlessly monetising its land, can sell or allocate them to cooperatives at subsidised prices to build affordable housing on CLT model.

Successful adoption of this model in many cities across the world should convince skeptics. For example, in Cooper Square land trust project in Manhattan, the rentals are below 30 per cent of the tenant’s monthly income, while in the surrounding area people spend 50 per cent of their salary on rent.

Cities committed to the welfare of its citizens have done better in addressing the housing problem. Chennai has not done enough and it should.

A. Srivathsan is a Deputy Editor with The Hindu. He writes on urban development, architecture and conservation.

marg swarnabhoomi cityscapes

Swarnabhoomi Cityscapes – Plots Starting from 4.99 Lakhs* on ECR.

 

All about Marg Swarnabhoomi – Educity


1.India’s Most Unique integrated & Green city :

All about Marg Swarnabhoomi : pdf download

marg swarnabhoomi pdf download

 

 

 

2.The HUB for Experiential Learning: Marg Educity Brochure Download

Institutions in Marg Swarnabhoomi:

marg swarnabhoomi pdf download

 

 

 

3.Marg Swarnabhoomi Today :

marg swarnabhoomi pdf download

 

 

4.Marg Swarnabhoomi Virtual Walkthrough:

Marg Swarnabhoomi Virtual walkthrough

 

 

 

 

5.Budget Flats in Chennai – Starting from 9*Lakhs.

Budget flats in chennai

 

 

 

6.Villa Plots Near Marg Swarnabhoomi Starting from 4*Lakhs:

marg swarnabhoomi cityscapes

 

 

 

 

7.Engineering SEZ Clients:

marg swarnabhoomi engineering-clients

 

 

 

 

 

 

 

8.Multi Services Sez Clients:

industry-multi-exemplarr

Visit:http://www.margswarnabhoomi.com/

Best builders in Chennai Launched low budget flats at marg swarnabhoomi starting from 9 lakhs*


Marg Limited one among the best builders in Chennai Launched low budget flats in Chennai at marg swarnabhoomi starting from 9 lakhs*.

Homes @ Swarnabhoomi:

Homes At Marg Swarnabhoomi

Assured Rental Income , Mar Swarnabhoomi

Assured Rental Income – Mar Swarnabhoomi

Homes At Marg Swarnabhoomi :With Assured Rental Schemes
Four Seasons – Rs 17.82 lacs *
Navratna – Rs.13 lakhs to Rs.55 lakhs *
utsav – Rs.10.80 lakhs to Rs.21 lakhs*
maha utsav – 21.00 lakhs to 29.5 lakhs*
aayush – Rs.9.96 lakhs to Rs.11.8 lakhs* 
================================================================================

four seasons logo , Marg Swarnabhoomi

four seasons logo – Marg Swarnabhoomi

4 Seasons : Tallest apartment complex on ECR @ Rs. 1850/- p. sq.ft. only
– Four Seasons will have 4320 apartments which will be developed in various phases .

– Tallest apartment complex on ECR – Four Seasons will be of max .28 floors . We have launched 26 floors ( Summer block) in phase 1 .The other high rise buildings like Hiranandani Upscale ( 28 floors ) & TVH Oranya bay ( 29 floors ) are located on OMR and not on the East Coast Road .
– 2BHK Rs 18.57 lacs * is the starting price of a 2BHK flat measuring 1004 sq ft
–  Launched on 11.11.11 – this date is considered very auspicious as it comes once in 100 years hence we did the Four Seasons project pooja on 11.11.11
– Only Four Seasons will have (Wooden Floor in Master Bedroom, Foyer, Shear Wall Structure, Podium Car Parking, Main door Carved Teak wood, three side lifts for each blocks, Garbage Chute, Power Backup, etc)

4 SEASONS
Winter Spring Summer Autumn Total
2BHK+2T Blocks 8 2 5 4 19
3BHK+3T Blocks 5 5
2BHK+2T Apartments 1088 272 1072 864 3296
3BHK+3T Apartments 1024 1024
Total Apartments 4320
Assured Rentals
2BHK – Rs. 7,500/- per month
3BHK – Rs. 9,000/- per month


4Seasons-Marg swarnabhoomi

4Seasons-Marg swarnabhoomi

four seasons ,marg swarnabhoomi

four seasons – marg swarnabhoomi

marg swarnabhoomi - Four Seasons Apartment - view towards winter block from autumn

marg swarnabhoomi – Four Seasons Apartment – view towards winter block from autumn

marg swarnabhoomi - Four Seasons Apartments - sea view n lake view

marg swarnabhoomi – Four Seasons Apartments – sea view n lake view

Four Seasons - Marg Swarnabhoomi - LAYOUT PLAN

Four Seasons – Marg Swarnabhoomi – LAYOUT PLAN

================================================================================
Aayush:aayush  logo , Marg Swarnabhoomiaayush logo – Marg Swarnabhoomi
The Total land extent will be 3.3 acres where we will develop 576 apartments.

The project offers you 2 BHK apartments ranging between 660 Sqft to 762 Sqft and the cost will vary between Rs.9.57 lakhs to Rs.11.04 lakhs offered at a price of Rs.1450/ per sq ft.

Facilities: Security, Club House, Space for ATM, Childrens Play Area, Reserved/Visiters Car Park, Convineo, Swimming Pool, Pharmacy, Multi-Purpose Hall, 100% Power backup.
Assured Rentals
2BHK – Rs. 4,000/- per month
 

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush Apartments – Marg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush Apartments – Marg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush Apartments – Marg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush Apartments – Marg Swarnabhoomi – starting price at 9Lakhs*

================================================================================

Maha Utsav:maha utsav logo  Marg Swarnabhoomimaha utsav logo – Marg Swarnabhoomi
An apartment with 3 sides Ventilation is a “Dream to own” & one with no common walls is “A Luxury”.
Premium Apartments:
392 Apartments in Maha Utsav is launched with both the Unique Feature.
Offer 2BHK, 3BHK+2T & 3BHK+3T types of Apartment.
Area ranges from 1114 Sqft to 1566 Sqft.
Price ranges from 18.38 lakhs to 25.83* for Premium & Penta-Duplex at 40.12 to 56.36* lakhs @ Rs.1650 per Sqft
Economical Apartment:
324 Apartments in Maha Utsav is launched with Economical Feature.
Offer 2BHK, 3BHK+2T & 3BHK+3T types of Apartment.
Area ranges from 752 Sqft to 867 Sqft.
Price ranges from 12.22 lakhs to 14.08 lakhs* @ Rs.1625 per Sqft
Apartment will be hand over by June 2013
                                                                                                                                                  
Facilities: Security, Club House, Space for ATM, Childrens Play Area, Jogging track, Car Wash Bay, Senior Citizen Park Open/Close/Visitors Car Park, Convineo, Acupuncture walkway, Yogo Platform, Swimming Pool, Multi-Purpose Hall, 100% Power backup.
Assured Rentals
2BHK – Rs. 5,000/ to Rs 6,000- per month
3BHK to Penta-Duplex- Rs. 7,000/ to Rs 8,000/- per month
PAYMENT SCHEDULE & Floor Plans (Click to download)
Pricing List for block A & B
Pricing List for C, D & F  

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav Apartments – Marg Swarnabhoomi

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav Apartments – Marg Swarnabhoomi

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav Apartments – Marg Swarnabhoomi

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav Apartments – Marg Swarnabhoomi

================================================================================
Utsav:utsav logo, Marg Swarnabhoomi utsav logo- Marg Swarnabhoomi
The Total land extent will be 18 acres where we will develop 720 apartments in 2 phases.
Phase 1 will have 320 apartments which will be completed and handed over by June 2012.
Phase 2 will have 400 apartments which will be completed for handed over by Dec 2012
The construction has already started & is progressing as per schedule.
The project offers you 2 BHK, 2BHK Plus & 3 BHK apartments ranging between 628 Sqft and 1232 Sqft and the cost will vary between Rs.10.36 lakhs to Rs.20.14* lakhs offered at a price of Rs.1650/ per sq ft.
Facilities: Security, Club House, Space for ATM, Childrens Play Area, Jogging track, Car Wash Bay, Senior Citizen Park, Open/Close/Visitors Car Park, Convineo, Acupuncture walkway, Yogo Platform, Swimming Pool, Basket Ball Court, Cricket Net, Shuttle Court, Yoga Platform, Pavilion, Skating Rink, Pharmacy, Dry Cleaning, Multi-Purpose Hall, 100% Power backup.Assured Rentals
2BHK – Rs. 5,000/ to Rs 6,000- per month
3BHK – Rs. 7,000/- per monthPAYMENT SCHEDULE (Click to download)

Pricing List for 2 BHK
Pricing List for 2 BHK Plus
Pricing List for 3 BHK
Navratna:navratna logo, Marg Swarnabhoominavratna logo – Marg Swarnabhoomi

This is the 1st residential enclave of Marg Swarnabhoomi and it is one the best real estate you can get. The Total land extent will be 9 acres.
Navratna phase1 with 300 apartments sold out & Navratna phase2 with 280 apartments will be completed and handed over by May 2011.
The apartment offers a choice of 1BHK, 2BHK, 3BHK, 4BHK & Pent House ranging between 656 Sqft to 3040 Sqft.
The apartments cost ranges from Rs.13 lakhs to Rs.55 lakhs worked at Rs.1650/ rate per Sqft.
Facilities: Security, Club House, Space for ATM, Childrens Play Area, Car Wash Bay, Senior Citizen Park, Open/Close/Visiters Car Park, Convineo, Swimming Pool, Pharmacy, Dry Cleaning, Multi-Purpose Hall, 100% Power backup.Assured Rentals
2BHK – Rs. 5,000/ to Rs 6,000- per month
3BHK to Penta-Duplex – Rs. 7,000/ to Rs 8,000/- per monthPAYMENT SCHEDULE (Click to download)

Navratna - Marg Swarnabhoomi
Navratna – Marg Swarnabhoomi

Navratna Apartments - Marg Swarnabhoomi

Navratna Apartments – Marg Swarnabhoomi

Visit:http://www.margswarnabhoomi.com/

Aayush Apartments Low Budget Flats in chennai Starting From 9 Lakhs* – Marg Swarnabhoomi Sez


Marg Limited is one of the best builders in chennai developed low budget flats in chennai.

The Total land extent will be 3.3 acres where we will develop 576 apartments.

The project offers you 2 BHK apartments ranging between 660 Sqft to 762 Sqft and the cost will vary between Rs.9.57 lakhs to Rs.11.04 lakhs offered at a price of Rs.1450/ per sq ft.

Facilities: Security, Club House, Space for ATM, Childrens Play Area, Reserved/Visiters Car Park, Convineo, Swimming Pool, Pharmacy, Multi-Purpose Hall, 100% Power backup.
Assured Rentals
2BHK – Rs. 4,000/- per month
 

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush ApartmentsMarg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush ApartmentsMarg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush ApartmentsMarg Swarnabhoomi – starting price at 9Lakhs*

Aayush Apartments - Marg Swarnabhoomi - starting price at 9Lakhs*

Aayush ApartmentsMarg Swarnabhoomi – starting price at 9Lakhs*

Launching Aayush – It’s time to make your dream of owning a home a reality. A home at Aayush is priced right and is a great investment. Not just that, it is located in MARG Swarnabhoomi, a centre of education, research, innovation and industry. Now that’s priceless.

  • Assured rentals that pay 50% of your EMI
  • Large township with 1000 acres of Commercial, Educational and Residential projects
  • Social infrastructure – Education, Health care, Industries and Innovation
  • Shared Children’s Play Area, Clubhouse, Gym and Swimming Pool
  • Lift and Power backup for common areas

MASTER PLAN

MARG Swarnabhoomi has been planned by HOK, USA. Founded in 1955, HOK (Formerly Hellmuth, Obata and Kassabaum) is regarded as one of the finest design/architect firms and master planners in the World. With over 26 offices worldwide, HOK has designed the 1st LEED (Leadership in Energy and Environmental Design) certified airport terminal in Boston and has recently been ranked as No. 1 by Engineering News Record’s Top Green Design Firms Rankings.

MARG Swarnabhoomi would be impeccably sequenced in three phases for internal management.

Master PlanMaster Plan

MARG Swarnabhoomi is divided into processing and non processing zones. The processing zones include two Special Economic Zones (SEZs) viz. Engineering: 116 acres and Multi Services: 126 acres. The non processing zone will have up to 15,000 residential units, luxury villas and support infrastructure like schools, hospitals, malls etc.

Basic infrastructure such as power supply, road connectivity, sewage treatment facility and specialized infrastructure like water desalination plant and waste management system will also be developed. The entire facility is operated and maintained by New Chennai Township Pvt. Ltd., a subsidiary of MARG.

Visit:http://www.margswarnabhoomi.com

Marg Maha Utsav Apartments Starting From 12.22 lakhs – Marg Swarnabhoomi


 MARG Maha Utsav :maha utsav logo  Marg Swarnabhoomi 392 Premium Apartments in Marg Maha Utsav & 324 Economical Apartment in Marg Maha Utsav with 3 sides Ventilation is a “Dream to own” & one with no common walls is “A Luxury”.
392 Apartments in Maha Utsav is launched with both the Unique Feature.
Offer 2BHK, 3BHK+2T & 3BHK+3T types of Apartment.
Area ranges from 1114 Sqft to 1566 Sqft.
Price ranges from 18.38 lakhs to 25.83* for Premium & Penta-Duplex at 40.12 to 56.36* lakhs @ Rs.1650 per Sqft
324 Apartments in Maha Utsav is launched with Economical Feature.
Offer 2BHK, 3BHK+2T & 3BHK+3T types of Apartment.
Area ranges from 752 Sqft to 867 Sqft.
Price ranges from 12.22 lakhs to 14.08 lakhs* @ Rs.1625 per Sqft
Apartment will be hand over by June 2013
                                                                                                                                                  
Facilities: Security, Club House, Space for ATM, Childrens Play Area, Jogging track, Car Wash Bay, Senior Citizen Park Open/Close/Visitors Car Park, Convineo, Acupuncture walkway, Yogo Platform, Swimming Pool, Multi-Purpose Hall, 100% Power backup.
Assured Rentals
2BHK – Rs. 5,000/ to Rs 6,000- per month
3BHK to Penta-Duplex- Rs. 7,000/ to Rs 8,000/- per month
PAYMENT SCHEDULE & Floor Plans (Click to download)
Pricing List for block A & B
Pricing List for C, D & F  

maha-utsav Apartments - Marg Swarnabhoomi

maha-utsav ApartmentsMarg Swarnabhoomi

MASTER PLAN

MARG Swarnabhoomi has been planned by HOK, USA. Founded in 1955, HOK (Formerly Hellmuth, Obata and Kassabaum) is regarded as one of the finest design/architect firms and master planners in the World. With over 26 offices worldwide, HOK has designed the 1st LEED (Leadership in Energy and Environmental Design) certified airport terminal in Boston and has recently been ranked as No. 1 by Engineering News Record’s Top Green Design Firms Rankings.

MARG Swarnabhoomi would be impeccably sequenced in three phases for internal management.

Master PlanMaster Plan

MARG Swarnabhoomi is divided into processing and non processing zones. The processing zones include two Special Economic Zones (SEZs) viz. Engineering: 116 acres and Multi Services: 126 acres. The non processing zone will have up to 15,000 residential units, luxury villas and support infrastructure like schools, hospitals, malls etc.

Basic infrastructure such as power supply, road connectivity, sewage treatment facility and specialized infrastructure like water desalination plant and waste management system will also be developed. The entire facility is operated and maintained by New Chennai Township Pvt. Ltd., a subsidiary of MARG.

Visit :http://www.margswarnabhoomi.com/living/marg-maha-utsav-intro.php

The rental graph in Chennai rises


Marg swarnabhoomi,Aayush apartments

Marg swarnabhoomi – Aayush apartments

Residential rentals in Chennai and suburbs have shot through the roof in the last few years. We find out the reasons behind this trend.

When K Saravanan moved into the city from Hyderabad five years ago, he found himself a 2 BHK apartment on OMR for a rent of Rs8000 a month. Besides being close to his place of work, his apartment also offered amenities like gym, jogging track, and so on. Today, he pays a rent of Rs 15,000 for the same apartment. “It’s still much less than what I would be shelling out if I were to live in the heart of the city, say Alwarpet or Nungambakkam. My apartment complex now has a club house, a small in-house cinema hall, a supermarket, ample green cover, etc, and it’s not too far away from the centre of the city either,” he says.

Many like Saravanan prefer living in rented properties close to their work places, but not many can afford the increasing rents in some of these locations. N Hariharan, Office Director, Chennai, Cushman & Wakefield, says, “There has been an increased migration of people to the southern part of the city; the demand has been growing but the supply is limited, especially in areas like Alwarpet, Besant Nagar, to name a few. There is a good supply on GST and beyond Perungudi on OMR. These areas have seen the maximum increase in rentals.” He points out that while rentals in Velachery used to be about Rs8,000 (for a 2 BHK) a few years ago, today it is about Rs25,000. Average rentals in Besant Nagar and Thiruvanmiyur, he adds, are above the Rs25,000 limit.

Apart from the fact that rents are high, the other concern with regard to residential rentals is that they are not uniform. Two apartments in the same complex, for instance, that are of the same size, age and on the same floor demand different rentals. “It depends entirely on the owner. The rental market is largely unregulated and unorganised,” adds Hariharan. This particularly affects tenants, especially when they are looking for apartments on rent within the city. Take the case of Arun (name changed) who lives in a rented property in Adyar. He has been staying in the 2BHK apartment for the last ten years and the rent has increased manifold over the years. “When I moved in to the apartment, in early 2002, I was paying a rent of Rs9,000 and now I pay about Rs30,000. Of courses, the rentals are bound to rise, but this astronomical increase is not justifiable, especially when the apartment itself is about 20 years old and there has been no significant improvement in terms of infrastructure (within the complex) and no amenities provided. There needs to be a strict guideline to ensure that rentals in a particular area at least are uniform,” he says.

Arun’s views are shared by many who live in rented properties across the city. The landlords, however, defend their stand and attribute the increase in rentals to increasing value of land. Ramya Ravindran (name changed) who has let out two apartments – one in Thiruvanmiyur and the other in Mylapore – believes that she has no choice but to increase rentals. “As per the Rental Agreement we hand out to our tenants, we are allowed to increase the rent by 10% per year. Although we do not do it every year, for fear of losing good tenants, we have to increase our rents whenever we modify the apartment. With the market value of land in these areas having increased significantly, we are bound to increase rentals too,” she reasons.

Another factor that has given rise to the phenomenon of increase in rental rates is that of rising income levels of individuals. Abhishek Gopal, a working professional who hails from Chennai, has a property in Velachery he has leased on rent for the last couple of years. “The development of the suburbs and the rising income levels of the middle class have led to an increase in the rental rates of most localities in the city. “People are willing to spend more as long as the locality is safe and has a range of amenities. I hike the rent by 10% every two years but it varies based on many factors such as land prices, electricity rates, etc,” he says.

Rajesh Babu, Founder of RECS Group, a city-based real estate consultancy, says the availability of services and infrastructure in the city attributes to the constant rise in rental rates in the city. “Suburban areas such as OMR, GST Road, and Oragadam have witnessed a rise in rental rates over the years owing to the booming IT and manufacturing industries in the area,” he says. He also mentions that individuals who have lived in the city for more than two years look for renting out their properties. “A large chunk of properties on rent are owned by individuals who are looking for investment avenues and have an understanding of the real estate market,” he adds.

With soaring property prices, it is natural that rentals have to be hiked. It will, however help if the increase were not so haphazard, say residents who feel that a guideline to regulate rentals in the city and suburbs will ensure that there is order amidst the chaos.

Source:magicbricks