Chennai Realty.biz PropWatch - Real Estate Newsletter Ed 1
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Transcript of Chennai Realty.biz PropWatch - Real Estate Newsletter Ed 1
weekly Newsletter on Real Estate in ChennaiChennai Realty May 2011
www.chennairealty.bizVol. 1: Issue 1
New VisionNew TeamInfinite Possibilities!
Launch date : 21st May 2011Available in Stands from June 2011
ASK Real Estate Special Opportunities fund, a realty-focused private equity fund has invested Rs.50 Cr in a special purpose vehicle (company) floated by
Chennai-based Real Value Group. The money would be used for developing a residential project at Kottivakkam in Chennai which will see Real Value Group develop 6.75 lac square feet of space on a plot of 4.32 acre. The project is located close to Taramani Railway station and in the vicinity of the IT corridor on OMR and entertainment corridor on ECR in Chennai.
Founded in 1995, Real Value Promoters has completed over 7 million square feet of construction and have another 6.5 million under pipeline. The company currently has 3 on-going projects, Neel Kamal and Sai Surya both on OMR and Sai Skanda at Velacherry. Pipeline projects are coming up at Oragadam and Greenways Road.
e-Stamping system launched in Tamil Nadu
Stock Holding Corporation of India (SHCIL), a public sector financial
services provider, has lauched e-Stamping system in Tamil Nadu. With e-Stamping it is now convenient for anyone to pay stamp duty online without the hassles involved in obtaining a stamp paper or franking a document. The e-Stamping system has been introduced to replace the use physical stamps. The system is secure and reliable and ensures the
S & P Foundation launches Living Spaces
Chennai based, S & P Foundation has launched its latest project offering ‘Living
Spaces’, Mogappair West Extn. Phase I to be developed over 10.9 acres would have 592 apartments with a total built up area of 7 lakh square feet with apartment sizes ranging from 550 sft to 1790 sft. The entire project spread over 80 acres will be developed over 5 years at an investment of over Rs.1500 crores. When completed, the township will have 2800 apartments and 300 villas. Living Spaces incorporates modern infrastructure and social amenities catering to a diverse community to meet their individual tastes, lifestyles and budgets. For further information, visit www.sandp.co.in
Chennai caught in “Sand Storm”
stamp duty paid reaches the government safely. The system has done away with the risks associated with the physical stamping of documents.
Important features include: • e-Stamp is available at no extra cost i.e you pay only the amount of stamp paper required • A single e-stamp can be purchased for any denomination • Third party verification of e-stamp certificate is possible for genuineness • An e-stamp can be purchased by paying cash /Demand draft , RTGS or NEFT
This facility has been made available throughout Chennai, Kanchipuram and Thiruvallur districts through the branches of SHCIL and through select branches of Indian Bank, Corporation Bank and Central Bank. For further information, contact Ms. S Karpagam, Area Manager, SHCIL-Chennai or visit www.shcilestamp.com
Chennai developers are facing severe shortage of construction sand
leading to the price of sand going up by 3.5 times from Rs.15 per cubic feet to over Rs.40 per cubic feet. Sometime back the prices went as high as Rs.60 per cubic feet as the High Court had banned the use of machines for sand quarrying operations and manual labour becoming scarce. The closure of sand quarries in the neighboring districts of Kancheepuram, Tiruvellore, Vellore and Villupuram meant that sand had to be transported from as far as Tiruchi which is 330 kms from Chennai. Add to this the wastage, over sized particles and heavy moisture content, the price works out to as high as Rs.60 per cubic foot for concrete and Rs.80 per cubic foot for plastering sand. The severe shortage has led to hoarding of sand making its availability very hard forcing builders to go slow on their projects.
With Chennai requiring about
10000 loads (200,000 tons of sand) every day,
there is a serious need for developers to look at
alternative options to sand as construction
cannot happen without the basic
materials such as sand, cement and steel.
Nature takes about 600 years
to convert rock into 1-inch of sand and
with large scale construction happening all year round there is simply no sand to mine. The prices of cement and steel have already skyrocketed in the last 1 year putting builder’s margins under severe pressure.
ASK ties up with Real Value
Dear Patron,
I am happy to present to you the 1st edition of ‘PropWatch’, our weekly newsletter that tracks major developments and important stories in the real estate sector across India and abroad. The intention is to give a quick overview on issues which will have a direct or indirect effect on the real estate sector in Chennai.
This newsletter is yet another step in our modest attempt to bring a new dimension to media reporting on real estate and construction sector in Chennai. We believe in the saying ‘Nothing is Ever Perfect; There is Always Room for Improvement’. Hence we request your honest feedback on this newsletter which will help us learn, improve and innovate as we continue our journey to becoming a reputed voice of Chennai’s real estate industry.
Happy Reading!Kishore KumarEditorChennai Realty.biz
Chennai Realty
Weekly Wealth Monitor
TVS Group – To drive into
Low Cost Housing
The Chennai headquartered automotive group, TVS is all
set to drive into the real estate sector with the planned launch of their low cost housing project near Sriperumbudur at Nanmangalam about 50 kms from Chennai. TVS Housing, a company incorporated in March 2010 would be developing 28 acres at Nanmangalam which when completed will house over 2500 apartments. Key aspect of the township project involves development of 1 BHK apartments in the size range of 385 – 500 sft to be priced between Rs.7 and Rs.10 lacs. The project is scheduled for launch in the 2nd half of the year.
Though there is a huge opportunity on ‘Low Cost Budget Apartments’, the concept has seen little interest from developers who feel that there is very little margin for them to operate in the sphere and with the giving rapid rise in the cost of construction materials and interest rates, it will be difficult for them to sustain profitability unless it’s a very large project of over 100 acres. The challenge again is that the low income segment is not covered by traditional home loan institutions which affect their affordability for buying a home of their own.
Mall-oh-MallChennai is all set to see an upsurge
of shopping malls in the next 12 months. Till recently, Chennai which played home to the 1st shopping mall in the country in Spencer Plaza, was lagging far behind in the supply of quality retail space behind other metros like Bangalore, Hyderabad and even Cochin. Citi Centre and the recently opened Express Avenue has provided little succor for the average Chennaiite who still feels lack of proper shoptainment options in Chennai.
Prominent malls at Chennai:S.No. Mall Name Location Developer Area (sft) Status
1 Express Avenue Royapettah Express Group 9 lacs Operational2 Ampa Sky Walk Aminjikarai Ampa Housing & Development 3.5 lacs Operational3 Chennai Citi Centre Mylapore B S Abdur Rahman Group 1. 5 lacs Operational4 Chandra Mall Virugambakkam National Compan 1.5 lacs Scheduled for launch5 Spectrum Mall Perambur Ganga Foundations 1.2 lacs Scheduled for launch6 Ramee Mall Teynampet Ramee Group 1.5 lacs Scheduled for launch7 Coromandel Plaza Semmencherry Suryavardhan Estates 2.8 lacs Scheduled for launch8 Grand Mall Velacherry P S Srijan Group 3 lacs Scheduled for launch9 Riverside Mall OMR, Karapakkam Marg Group 10 lacs Scheduled for launch
10 Forum Mall Vadapalani Prestige Group 17 lacs Scheduled for launch11 Forum Mall Nandanam Prestige Group 12.75 lacs Scheduled for launch12 Ozone Mall Anna Nagar Ozone Group 14 lacs Scheduled for launch13 Allied Mall Siruseri Allied Housing 7 lacs Scheduled for launch14 Velacherry Mall Velacherry Kshitij Group 21 lacs Scheduled for launch15 Skycity Mall Poonamallee High Road Dugar Group 8 lacs Scheduled for launch
Infosys co-founder to invest in hospitality sector
N S Raghavan, one of the co-founders of Infosys, is expanding his presence in the hospitality sector. Nadathur Holdings, the investment vehicle owned by Raghavan, has formed a joint venture with Sri Lanka-based Sunshine Travels. This joint venture is expected to invest approximately $50 Million in a phased manner to develop, acquire and manage hotel assets in different parts of the country. In addition to investing from the family-office fund, Raghavan, runs a venture capital fund.
WELSPUN INFRA ACQUIRES 35 PERCENT STAKE IN LEIGHTON CONTRACTORS
Welspun Infra Projects Pvt Ltd (WIPPL), a part of the
Rs 13,500-crore Welspun Group, has acquired a 35 percent stake for Rs 470-crore in leading project development and contracting firm Leighton Contractors, the Indian arm of Australia’s Leighton International. About 60 percent
of the share capital of WIPPL is held by Welspun Infratech Ltd, a subsidiary of Welspun Corp Ltd (WCL) and 40 percent by Welspun Infra Developers by way of an investment of Rs 150-crore and Rs 100-crore, respectively. The balance Rs 220-crore is funded by way of an external debt.
-15.73
-37.21
27.54
30.68
-6.76
-60 -40 -20 0 20 40
CONSTRUCTION
REALTY
BANKING
INFOTECH
RETAIL
Last Year
Last week
21732 22140
4080
5000
10000
15000
20000
25000
Last week This week Up / Down
Gold (10 gms in Rs.)
Gold (10 gms in Rs.)
Gold (10gms in Rs.)19590
19135
189001900019100192001930019400195001960019700
Last week This week
Sensex
Sensex
Sensex
121.4 125.58
4.180
20
40
60
80
100
120
140
Last week This week Up / Down
Crude (per Brl in US$)
Crude (per Brl in US$)
Crude (per Brl in US$)
Forthcoming EventsHindu Metroplus Lifestyle Show
30 May - 6 Jun 2011 Chennai Trade Center, Chennai
Luxury Homes 20117 - 9 July 2011
Chennai Trade Center, Chennai
Metal Buildings & Steel Structures Expo 2011
23 - 26 June 2011 Pragati Maidan, New Delhi
LifESTyLE
CoNSTruCTioN
rEaL ESTaTE
Chennai Realty
Chennai ProPerty trends
Sub MaRketS aveRage ReNt iN May 2010(Rs. / Sft per month)
aveRage ReNt iN apRil 2010(Rs. / Sft per month)
CBD (Anna Salai, Nungambakkam, RK Salai,
T Nagar, Egmore, Alwarpet)
Grade A 70 - 100 70 - 90
Grade B 55 - 65 55 - 65
Off CBD (Guindy, Kiplauk, Taramani, Adyar, Anna Nagar)
Grade A 50 - 65 50 - 65
Grade B 42 - 47 42 - 47
Suburban Business District(Velachery, Perungudi, Mount Poonamallee Road)
Grade A 35 - 45 35 - 45
Grade B 30 - 40 30 - 40
Peripheral Business District (Perungalathur, Sholinganallur, Siruseri, Ambattur, GST Road)
Grade A 35 - 40 35 - 40
Grade B 25 - 35 25 - 35
CoMMeRCiAL
locatioNS capital value 2 bHk (Rs./Sft)
ReNtal value 2 bHk of 1000 Sft (Rs./Month)
capital value 1 gRouNd of 2400 Sft (Rs. lacs)
budget pReMiuM budget pReMiuM aveRage
ceNtRal
Abhiramapuram PerungudiTriplicane
800038007000
14000450013800
1500080008000
240001200016000
250 - 35070 - 120200 - 250
NoRtH
AmbatturPurasawalkamShenoy Nagar
300080009000
40001200012000
80001200012000
120002400018000
80 - 100250 - 300180 - 250
SoutH
AlandurSaidapetKottivakkam
550050006000
700070007500
800080008000
140001800020000
85 - 95160 - 200150 - 180
WeSt
KoyambeduNungambakkam Porur
6000100003700
7000150004200
8000160005000
20000300008000
130 - 150250 - 35055 - 60
outeR
Tiruvallur KelambakkamOragadam
21002500 1800
270030002000
500065003500
7000140006000
12 - 1820 - 30 8 - 12
ReSiDeNtiAL
CoNStRUCtioN MAteRiAL PRiCe iNDex *coMModity uNit MeaSuRe pReviouS Week cuRReNt Week
CEMENT Per 50 KG BAG Rs.270/- Rs.275/-
STEEL Non ISI 6MM / Ton Rs.38,500/- Rs.38,000/-
STEEL TMT 8MM dia / Ton Rs.42,100/- Rs.42,100/-
STEEL 10-25 MM dia / Ton Rs.40,900/- Rs.40,900/-
STEEL RMS / Ton Rs.45, 500/- Rs.44,500/-
STEEL STIRRUPS / Ton Rs.46,500/- Rs.45,500/-
STEEL VSP/SAIL 10mm dia / Ton Rs.46,800/- Rs.46,800/-
BRICKS 1 No. Rs.5.60/- Rs.6/-
RIVER SAND Cubic Feet Rs. 30/- Rs.35/-
FLY ASH Per Ton (Ennore) Rs. 100/- Rs.100/-
BLUE METAL 20MM / Cubic Feet Rs.26/- to Rs/29/- Rs.26/- to Rs.28/-
BLUE METAL 40MM / Cubic Feet Rs.24/- Rs.24/-
QUARRY DUST 0 – 2 MM / Cubic Feet Rs.15/- Rs.17/-
BITUMEN GRADE 80/100 Rs.36,246/- Rs.36,606/-
BITUMEN GRADE 60/7O Rs.37,198/- Rs.37,558/-
* C
ourte
sy :
BA
i, C
henn
ai “Wisdom is not a product of schooling but of the
lifelong attempt to acquire it”
Albert Einsten
Knowledge is
Power
TerM Pricing6 MonThs(6 issues)
rs. 150/-
1 Year(12 issues)
rs. 275/-
2 Years(24 issues)
rs. 500/-
3 Years(36 issues)
rs. 700/-
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