Spurt in housing development on Vandalur-Kelambakkam road


vandalur-kelambakkam road

vandalur-kelambakkam road

The 18-km stretch from the IT corridor in Kelambakkam to the Grand Southern Trunk (GST) road junction at Vandalur was lying low for quite some time due to the hectic real estate development activity on either side of the corridor. With the soaring land prices and acute scarcity of land for housing development, the perpendicular road that connects both the corridors is bristling with activity, thanks to the improved connectivity levels and willingness on the part of Chennaiites to shift from city areas.

There is another reason for the sudden shift in trend. With the availability of large land parcels, property developers could plan large projects with a comprehensive range of amenities that will convince the people that it is time to live in a gated community development for varied reasons.

Over 15 developers have ongoing residential projects on either side of the Vandalur-Kelambakkam road. These range from affordable housing, plotted development, luxury apartments to villas. Among the developers who have ongoing projects, specific mention must be made about Puravankara Projects, Sobha Developers, Unitech, Real Value Promoters, Vijayshanthi Builders, Artha, Isha Homes, SSPDL, Emaar MGF, DABC, Provident Housing Development, among others. A number of affordable housing projects are likely to change the skyline of the area in the coming years, according to industry sources. Apartment prices for ongoing projects range from Rs 2,500 to 3,900 per sq ft whereas row houses are quoted at Rs 3,500 per sq ft. Developed plots in areas like Vengambakkam are quoted at Rs 1,000 per sq ft.

The presence of Chettinad Hospital, VIT University and engineering colleges have pushed the demand for housing and nudged others to shift to suburbs. A few schools are due to come up in the corridor. As the GST corridor is bustling with activity due to lack of infrastructure and soaring land prices, Vandalur-Kelambakkam road came in handy for developers to look at housing development due to availability of large land parcels and willingness on the part of land owners to opt for joint venture development. This has enabled a number of property developers to make a beeline in search of suitable land parcels for development. As the connectivity levels have improved and housing prices are competitive, those working in the IT corridor would be keen to invest in the coming years as prices are yet to touch the IT corridor level.

Though social infrastructure is lacking, Vandalur junction is poised for a major turnaround in development. Aerens Gold Souk is under construction near Vandalur on GST road. With improved connectivity levels to Oragadam via Tambaram-Mudichur road the area offers good transport connectivity for blue-collared workers to invest in housing as social infrastructure is gradually improving in the vicinity. The road widening work on GST road is long overdue and will go a long way in improving housing development in and around the area.

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

Chennai Rental Hits High


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.

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Homes at Marg Swarnabhoomi : Starting From 9 Lakhs*

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.

Source: thehindu

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

Why to invest in Swarnabhoomi Cityscapes?


Swarnabhoomi Cityscapes is an ambitious venture of MARG Swarnabhoomi to fulfill the dreams of people to own a plot. Swarnabhoomi Cityscapes proudly launches a wide range of highly appreciable villa plots on scenic ECR. There are number of reasons why you should choose Swarnabhoomi Cityscapes

  • From the house of MARG, one of the fastest growing Infrastructure Company in India with over 3000 crores worth of projects in progress
  • All the villa plots are flavored by MARG’s trust and transparency
  • These villa plots are located around MARG Swarnabhoomi, a 1000 acre aspiration city – Huge scope for high appreciations
  • Part of MARG Swarnabhoomi’s vision of 10,000 acre regional development
  • The region attracted other investments like proposed NTCP power plant, BGR Energy plant, TTDC sports complex and theme park
  • Access to shared facilities at MARG Swarnabhoomi
  • Strategically located to address work-life balance

Bay View villa plot which is located at just 1 km from the beach on ECR and close to Cheyyur Lake start from Rs.9.99 lakhs* onwards per ground. Bay View comes with a 571 premium sea view plots which is located on the entertainment corridor, just 2kms from TTDC Boat House (Mudaliarkuppam) and proposed water sports & Theme Park.

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* onwards per ground. Lake View Garden offers 517 garden plots which are located on ECR in close proximity to Koovathur hospital and near proposed BGR Energy Plant.

Royal Orchard  villa plot inspires by the serene power of nature and its beauty is located next to Tapovan Ultra Luxury Villas by MARG ProperTies in tranquil environment comes with a price range starting from Rs 4.99 Lakhs* per ground. Royal Orchard offers 397 garden plots off ECR which are located just 18km from Maduranthagm Railway station.

Visit:http://www.swarnabhoomicityscapes.com

marg utsav 2 bedroom apartment price list – marg swarnabhoomi


marg utsav 2 bedroom apartment price list – marg swarnabhoomi.