Rs. 1,200 crore for developing an integrated township off Old Mahabalipuram Road, Chennai
The first phase will be developed over 14 acres with 656 apartments
residential apartments, villas, one of the best schools of Chennai, essential services, healthcare facilities and shopping mall/arcade.
It would build ‘villapartment’ concept — the privacy, luxury and independent of a villa and the convenience, cost-effective maintenance and security of an apartment.
“Villappartment” which means u have 25% features of a villa and 75% features of an apartment. The Villa features are No Common Walls to share with your neighbor, three sided ventilation and exclusive corridor leading to your own apartment so that your apartment does not open up to your neighbor’s living room.
Price is 3600 per sq feet. 20 Rs floor rise increase after 5th floor onwards.
Covered Car Park - 175,000
Stamp Duty & Regn -on UDS which is 40% of base price
Corpus Fund - 100,000
Club Membership - 100,000
Annual Maintenance - 2 Rs per sq feet / month collected for 12 months in advance
EB, Water, Sewage
deposit, legal charges - 50 Rs per sq feet
L&T shall maintain the buildings till the completion of township i.e. 5-6 years and then transfer to association along with corpus fund and maintenance charges fund
Behind SIPCOT, Siruseri
nearly 100 acres and will be developed in four to five phases
For offices on OMR, this is near. If you work at SIPCOT, you are real close (1-1/2km from TCS/CTS). You don’t even have to pay toll if the road through SIPCOT is laid better in coming days. Think of WALK TO WORK.
If access to SIPCOT is closed only for SIPCOT employees, only other access right now is to reach Vandalur-Kelambakkam road through Pudupakkam village.
For traveling to NH45, the Vandalur-Kelambakkam road is well laid and relatively less traffic. But down the lane, this may not suffice as this is a single-lane road.
L&T South City projects
L&T Urban Infrastructure 51 per cent
Dinesh Ranka & Associates and 24.5 per cent
Pragnya Trustee & Investment Management Company 24.5 per cent
The Apartment features are security, club house, high rise views, 85% open area which is landscaped. They have a School, Healthcare facility and a mini mall in their 100 acres township.
School – PSBB, which is a renowned name in Chennai.
Planning for a crèche, Multipurpose hall, departmental store
Security – Video phone at entrance, video phone at entrance,
Solar water heating
RCC wall technology for the first time in Chennai / Seismic zone - III
Flooring Living / Dining / Bedrooms / Kitchen
Balcony & Service
Ceramic up to 7 ft.
Ceiling finished with oil-bound distemper
Main door – Teakwood frame with teakwood shutters
UPVC / Aluminum
Hindware / Parryware
Fiber Optic Connectivity
Optical access technology for fibre-to-the-premises networks that enable IPTV, video-on-demand, broadband data and voice services, digital and analog television.
I am not aware of any hidden costs, do add your comments if you think project has hidden costs involved.
Penalty cost - Rs.5/sqft for every month the project is delayed
RCC wall technology. Walls are 4” instead of 9” – so, more carpet area per sale-able area. The whole construction is carried out through mechanized construction practices by deploying concrete batching plant, transit mixtures, concrete pumps and tower cranes. Such deployment facilitates timely completion of the project with high-class quality. Unlike conventional construction involving column beam framework with brick work infill, the construction of Villapartment is done through providing RC shear wall / Slab construction. Utilizing this technology, the wall and slab for total apartment unit is done at one go at two days cycle period. Such construction will provide perfect dimensional accuracy and also superior quality. Other benefits include,
* Eliminates the construction of columns
* All rigid walls and floor slabs are case in single pour
* Earthquake resistant structure
* Offers obstruction free space
* Accelerates the construction schedule
* Facilitates to adapt the green building concept
* Offer better performance over RC framework with brick work
Very good rent-ability to SIPCOT-goers/Navalur. approximate rents in 2011 would be Rs. 6000 for every 1000 sft house in this area.
Selling immediately would depend on how the housing market and the overall economy gets going. Overall, this is hot property and reasonable prices. Could double by 2016 or 2018.
TCS is employing 35,000 people at Siruseri, Cognizant has 4000 people working and hiring another 6,000 people, Hexaware is hiring 10,000 people at Siruseri, XANSA has 3000 people, Syntel is hiring 7000 people, Airtel has 400 employees, Aspire systems has 600 employees, Patni has 1200 employees. Add all this we would have 70,000 people to be employed in Siruseri IT Park in next 3 years. If even 10% want to live besides work place you need 7000 apartments. L&T Eden Park township is coming up with only 4000 apartments in total.
A+ for peace lovers
B- for action lovers
A- for bachelors (if you work in OMR, esp SIPCOT/Navalur)
A for family (nearby school, crèche, hospitals, no great shopping, might pay for toll everyday)
C for shopping freaks
B- for party goers (homes near city or ECR are better)
A+ for aged (Place to walk, Chettinad heath city nearby)
A for investors (could double by 2016 if IT boom sustains)