Purva Windermere - Pallikaranai - issues

Location

http://wikimapia.org/#lat=12.927481&lon=80.193586&z=15&l=0&m=a&v=2  this project never got off ground in 2008 or 2009. Pre launch price was 2790 and sold later for 3200 per sft. Now see the Business Standard(Mar 30 2011) article - they are trying to restart this project.  This is disputed to be on swamp land and surrounded by 3 lakes.  There has been multiple delays Booking amount is provided before the flat is finalized Prices have been reduced, but early buyers still had to stick with old price and additional delays Contact details manju@puravankara.com 080-25321333 UPDATED WITH SITE PLAN  windermere-flat__nos22-04-08_site_plan.pdf UPDATED WITH PICTURES AND FLOOR PLANS Business Standard: March 30, 2011

Chennai: Puravankara Projects Ltd has announced a Rs 1,700 crore luxury residential project at Pallikaranai in the suburbs of Chennai. Purva Windermere, coming up on 55 acres, would have 2,688 units to be completed in 48 months’ time, according to a senior official from the company. The company would complete the project in three phases, with the first phase comprising of 728 housing units and will be ready for delivery in next 30 months, said Ashish Puravankara, joint managing director, Puravankara Projects Ltd. “The value of the project is Rs 1,700 crore and we plan to complete it in the next 48 months,” he said. The company would raise Rs 225 crore by issuing debentures for the project and would infuse Rs 75 crore out of this in the initial stages, said Jackbastian Kaitan Nazareth, chief executive officer, Puravankara Projects Ltd. The rest of the investment would be generated from sales in the first phase, he added. With the new launch, the company would have an investment of Rs 2700 crore in various projects in Chennai. The other projects of the company in Chennai includes Rs 480 crore- Provident Cosmo City near Siruseri IT Park, Kelambakkam, developed under its wholly owned subsidiary Provident Housing Ltd and Rs 450 crore Purva Swanlake, at Old Mahabalipuram Road (OMR), which are under development. It also includes a Rs 70 crore residential project, Purva Jade, at Valsaravakkam which has been completed and handed over to the customers, said Nazareth. The company has a total of 20 million sq ft under pipeline in various parts of the country and in Sri Lanka, of which almost 18 million sq ft are undergoing construction. It has acquired a 25-acre land in Colombo, Sri Lanka for a real estate development, he added. Established in 1975, the copany has so far delivered 6,500 homes to customers. It has completed 36 projects, including residential and commercial real estate development across Mumbai, Bangalore and Chennai. At present, it is developing 16 projects, both residential and commercial.