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Post Info TOPIC: Chennai Real Estate- News- 2


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NEW HIGH 
At 1.23L/sq ft,Mum flat Indias costliest 

Rajshri Mehta TNN 

Mumbai: The Mumbai realty market threw up another record when a 10thfloor,sea-facing flat of the marquee Samudra Mahal in Worli fetched Rs 1.23 lakh per square foot,the highest in the country.
Leading glassware company Borosil bought the 1,706 sq ft,three-bedroom apartment for Rs 21 crore from Behroze Zavaray Poonawalla,sisterin-law of Cyrus Poonawalla,who runs one of the worlds biggest vaccine-makers and is a race horse owner.It had bought another flat in the building last month.
The deal overrode the Rs 1.2 lakh per sq ft paid for a luxury apartment in Tahnee Heights on Nepean Sea Road by Jindal Drugs in June 2012.The flat has a carpet area of 1,706 sq ft and a built-up area of 2,625 sq ft,with servant quarters.
Pc00627S.jpg



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வில்லங்கம் பார்த்து வீடு வாங்குங்க...

 

Tamil-Daily-News_23330324889.jpg

பழைய வீடுகளை வாங்கும்போது, குடியிருக்கும் வீட்டில் என்ன வில்லங்கம் இருக்கப்போகிறது என நினைத்து கவனக்குறைவாக இருக்கக்கூடாது. பழைய வீடு வாங்கும்போதுதான் கூடுதல் கவனம் செலுத்தவேண்டும். முதலில், வாங்கப் போகும் பழைய வீட்டின் மீது வில்லங்கம் ஏதாவது உள்ளதா என்பதை பார்க்கவேண்டும். வில்லங்கம் ஏதும் இல்லை என்பதை உறுதி செய்துகொண்ட பின்னர் வீட்டின் பத்திரம், பட்டா, மூலபத்திரம் உள்ளிட்ட ஆவணங்களை கேட்டுப்பெற வேண்டும். அந்த ஆவணங்களை வக்கீல் மூலம் ஆராய வேண்டும்.
பத்திரம் காணாமல் போய்விட்டால், அந்த வீட்டை வாங்கும்போது உஷாராக இருக்க வேண்டும். ஏனெனில், வீடு கட்டுவதற்காக பத்திரத்தை அடமானம் வைத்து வங்கியிலோ அல்லது தனி நபரிடமோ கடன் பெற்றிருக்கலாம். இந்த சூழ்நிலையில், பத்திரம் காணவில்லை என்று போலீசில் புகார் கொடுத்து பத்திரப்பதிவு அலுவலகத்தில் இருந்து நகல் பத்திரம் வாங்கியிருக்க வாய்ப்புண்டு. எனவே, ஒரிஜினல் பத்திரம் இல்லை என்று கூறினால் கூடுதல் கவனம் செலுத்துவது மிகவும் அவசியம். ஏனெனில், வீடு விற்பனைசெய்த பிறகு ஒரிஜினல் பத்திரம் வைத்திருப்பவர்கள் அந்த வீட்டை எளிதில் தங்களது கஸ்டடியில் எடுத்துக்கொள்ள முடியும்.
மேலும், ஒரிஜினல் பத்திரம் உயிரோட்டத்துடன் இருக்கும்போது நகல் பத்திரம் செல்லுபடியாகாமல் போய்விடும் என்பதை மனதில் கொள்ளவேண்டும். இல்லாவிட்டால் முந்தைய ஓனர் வீடு மீது வாங்கிய கடனையும் சேர்த்து நாம் சுமக்க வேண்டியதாகி விடும்.
இதேபோல பத்திரத்தில் குறிப்பிடும் நீள, அகல அளவுகளில் வீட்டுமனை உள்ளதா என்பதையும் சர்வேயர் மூலம் அளப்பது நல்லது. ஏனெனில், பத்திரத்தை பொறுத்தவரை பழைய பத்திரத்தில் என்ன அளவு உள்ளதோ அதே அளவு அடுத்தவருக்கு விற்கும்போதும் எழுதப்படுகிறது. ஆனால், இடைப்பட்ட காலத்தில் பக்கத்து வீடுகளில் வசிப்பவர்கள் ஆக்கிரமிப்பு செய்திருக்கலாம் அல்லது உள்ளாட்சி மற்றும் நெடுஞ்சாலை துறையினால் கையகப்படுத்தி இருக்கலாம். பொதுச்சுவர் வில்லங்கம் இருக்கிறதா என்பதையும் கவனிக்க
வேண்டும்.
சொத்துவரி, வீட்டுவரி, தண்ணீர்வரி உள்ளிட்ட வரிகள் அனைத்தும் தவறாமல் கட்டி முடிக்கப்பட்டுள்ளதா என்பதை விற்பவர்களை கேட்டு தெரிந்துகொண்டு, அதற்கான ஆவணத்தை பெறவேண்டும்.
வளர்ந்து வரும் புறநகர் குடியிருப்பு பகுதிகளில் குன்றத்தூர்
குடிநீர் வசதி, எங்கு வேண்டுமானாலும் சென்று வர சிறந்த சாலை இணைப்பு, போக்குவரத்து வசதி, பள்ளிகள், கல்லூரிகள், தெரு விளக்குகள் உள்ளிட்ட பாதுகாப்பு வசதி, தூய்மையான சுற்றுச்சூழல் இவையெல்லாம் ஒரு பகுதியில் இருந்தால் அப்பகுதியில் அதிகளவிலான மக்கள் குடியிருக்க விரும்புவார்கள். ஜிஎஸ்டி சாலைக்கு மிக அருகில் இருக்கும் புறநகர் பகுதியான குன்றத்தூர் இதற்கு சிறந்த எடுத்துக்காட்டு. சென்னையின் புறநகர் பகுதி என்று கூறப்பட்டாலும் இது சென்னை விமான நிலையத்திலிருந்து வெறும் 10 கி.மீ. தொலைவில்தான் அமைந்துள்ளது. குரோம்பேட்டை ரயில் நிலையம் மிக அருகில் அமைந்துள்ளது.
சமீபத்தில் குன்றத்தூர் சந்திப்பு பகுதியை இணைக்க புதிய மேம்பாலம் அமைக்கப்படும் என அரசு அறிவித்தது. பல்லாவரம் அருகே ஜிஎஸ்டி சாலையிலிருந்து விரைவில் மேம்பால பணி நடைபெறவுள்ளது. கோடம்பாக்கம்,ஸ்ரீபெரும்புதூர் சாலை, குன்றத்தூர் சாலை, முருகன் கோயில் சாலை, பம்மல் முக்கிய சாலை ஆகியவை குன்றத்துரை பல்வேறு பகுதிகளுடன் இணைக்கின்றன. பள்ளிகள், கல்லூரிகளும் இங்கு நிறைந்துள்ளன. 45 ஆண்டுகள் பழமையான சேக்கிழார் அரசு மேல்நிலைப் பள்ளி மற்றும் பல தனியார் பள்ளிகளும், மாதா பொறியியல் கல்லூரி, சென்னை இன்ஸ்டிடியூட் ஆப் டெக்னாலஜி போன்ற கல்லூரிகளும் மிக அருகில் உள்ளன.
இவை மட்டுமின்றி அரசு ஆரம்ப சுகாதார மையம், மாதா மருத்துவக் கல்லூரி மற்றும் மருத்துவமனை உள்ளிட்ட மருத்துவமனைகளும் இங்கு உள்ளன. மயிலாப்பூர், மாம்பலம், நங்கநல்லூர் உள்ளிட்ட பகுதிகளிலிருந்து இடம் பெயர்ந்து வந்தவர்களே இங்கு அதிகம் வசிக்கின்றனர். இப்பகுதியில் குறைந்த விலையில் வீட்டு மனைகள் கிடைப்பதும், எந்த நேரத்திலும் எங்கு வேண்டுமானாலும் சென்று வர முடியும் அளவுக்கு சிறந்த சாலை, போக்குவரத்து வசதிகளும் இருப்பதே இதற்கு காரணமாகும். தாம்பரம், போரூர், ஸ்ரீபெரும்புதூர் ஆகியவை மிக அருகில் இருப்பதும் மற்றொரு காரணமாகும்.
2010ம் ஆண்டு முதல் இப்பகுதியில் ஏராளமான வீடுகளும், அடுக்குமாடி குடியிருப்புகளும் பெருகி வருகின்றன. சிறந்த கட்டமைப்பு வசதிகள் இருப்பதால் மக்கள் அதிகம் வரத் தொடங்கியுள்ளனர். அருகில் உள்ள தாம்பரம், நங்கநல்லூர் பகுதிகளில் அடுக்குமாடி குடியிருப்பு வீடு தொடக்க விலையே சதுர அடி ரூ.5,500 இருக்கும்போது, இங்கு சதுர அடி ரூ.3,500 முதல் ரூ.5,000 விலையில் கிடைக்கிறது.
எப்போதுமே பில்டரின் ஒப்பந்தம் மீது 2வது நம்பிக்கை கொள்ளுங்கள்
பில்டர் ஒப்பந்தத்தின் வரைவு நகல் என்பது அனைத்து வீடு வாங்குபவர்களும் படிக்க வேண்டிய ஆவணத்தின் முக்கிய பகுதிகளில் ஒன்று. ஒப்பந்தம் பில்டருக்கு சாதகமாக ஒருதலை பட்ச மாக உள்ளதா என்பதை நீங்கள் சரிபார்க்க வேண்டி யது அவசியம். வழக்கமாக கிளப் ஹவுஸ், உட்புற சாலைகள், மொட்டைமாடி மற்றும் திறந்தவெளிகள் மேலும் சங்கம் அமைப்பது ஆகியவற்றின் பாத்யதை உரிமை மீதான தரமான அச்சுபிரதியில் எப்போதும் ஒரு சிறு தெளிவின்மை இருக்கும். வீடு வாங்குவது என்பது வாழ்நாள் முடிவு என்பதால் தொழில்முறை ஆலோசனை மேற்கொள் வது உதவிகரமாக அமை யும். எந்த ஒரு விஷயமும் தவறாக இருக்கக்கூடாது மேலும் அது உங்கள் முழு வாழ்க்கையை வேத னைப்படுத்தும்.
வாங்கும் மனையின் சுற்றுப்புற சூழ்நிலையால் பெறும் பலன்கள்
பிளாட்டுக்கு அருகில் ஆறு அல்லது கால்வாய் இருப்பது நன்மை தரும். இது பிளாட்டுக்கு வடக்குப் பக்கமாகவும் தண்ணீர் மேற்கில் இருந்து கிழக்காக ஓடிவரும் நிலையில் இருந்தால் பலவிதங்களில் நன்மை தரும். மனைக்கு கிழக்கில் இருந்தால் தண்ணீர் தெற்கில் இருந்து வடக்காக செல்வது யோகம் தரும். மனைக்கு தெற்கு அல்லது மேற்கில் ஆறு, ஓடை இருப்பது நலம் தராது. மனைக்கு தெற்கிலோ, தென்மேற்கிலோ, மேற்கிலோ மலை குன்று இருப்பது நன்மை தரும். மனைக்கு முன் அல்லது பின்புறமாக மயானம் புதைகுழி இருப்பது மன நிம்மதி தராது.
மனைக்கு எதிராக திருக்கோயில் இருந்தால் , அங்கு குடியிருப்பவர்களது வயது வளர வளர அவர்களது செல்வமும் குறைந்துகொண்டே வரும். அவ்விதமான வீட்டை பொது உபயோகத்துக்கு உபயோகிப்பது நன்மை தரும். அதாவது நூல் நிலையம், தண்ணீர் பந்தல், பயணிகள் தங்குமிடம், ஆதரவற்றோர் இல்லம் போன்றவற்றை அமைப்பது நன்மை தரும்.
மனைக்கு எதிராக சிவன் கோயில் இருந்தால் , தீராத வியாதி வரும். மனைக்கு எதிராக விஷ்ணு கோயில் இருந்தால் , மன அமைதி கெடும். துர்க்கை கோயில் இருந்தால் , உடல் நலம் பாதிக்கும். திருக்கோயில் நிழல் வீட்டின் மீது விழுவதும் தீராத துன்பங்களை தரும். திருக்கோயில் வீட்டின் வலது பக்கமாகவும், பின்புறமாகவும் இருந்தால் செல்வ இழப்பும், இடது பக்கமாக இருந்தால் முன்னேற்ற தடையும் ஏற்படும். திருக்கோயில், மசூதி, தேவாலயம் ஆகியவற்றிலிருந்து 100 அடி சுற்றளவுக்கு அப்பால் இருந்தால் பாதகம் தராது.
இரண்டு பெரிய வீடுகளுக்கு நடுவில் உள்ள மனையை வாங்குவது கூடாது. அதில் வீடு கட்டினால் நாளாக நாளாக செல்வ இழப்பு ஏற்படும்.
மனைக்கு தென் கிழக் கில், தென் மேற்கில், வட மேற்கில் கிணறு போர்வெல் நீச்சல் குளம் இருந்தால் பல இன்னல்களைத்தரும். ஆனால் அவை வடக்கு, வடகிழக்கில் இருப்பது நன்மை தரும்.



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urtains for elevated port road NHAI seeks closure 

1,815-Crore Link Was To Boost Trade 

Julie Mariappan TNN 

Chennai: In a major setback to the citys road infrastructure and the ports revenue dreams,the National Highways Authority of India (NHAI) has decided to shelve the Chennai port-Maduravoyal expressway project by closing the 1,815 crore contract.
NHAI has been in a spot after the state government stopped work on the 19km elevated road in February last citing deviation from the original alignment and the contractor going to court.The project was to ease congestion on city roads and speed up movement of containers from distant places to the port.The proposed cancellation threatens the mega container project and the dry port,together pegged at 4,000 crore,besides sending negative signals to companies planning to set up manufacturing units in the state.
The elevated expressway is one of the three projects caught in a quagmire after the change of government in 2011,the others being the GAIL pipeline and the coal-bed methane project in the Cauvery delta.
The contractor,Soma Enterprises,who has spent about 500 crore,has been pressuring NHAI,forcing it to call off the project.
The headquarters has sought the proposal to close the contract due to increasing claims by Soma Enterprises towards idling charges, NHAI chief general manager I G Reddy told TOI.In a day or two,the official letter (seeking closure) will be sent. 
Soma Enterprises asked NHAI to pay within 30 days 872.8 crore towards losses suffered by it,claiming that it had completed 30% of the project.

COLOSSAL MESS 


Cost of project: 1,815cr 

Aim: 


The expressway was to ease congestion on city roads and speed up movement of containers from distant places to the port 

Work done: 


120 columns have been raised between Koyambedu and Maduravoyal.15 out of the 889 columns have been erected 

Other projects hit: 


The cancellation hits the mega container project and the dry port together pegged at 4,000 crore


Pc0032000.jpg 

Project cancellation may affect industry 

Chennai: NHAI said that 120 columns have been raised between Koyambedu and Maduravoyal.Along theCooum,15outof the 889 columns have been erected the contractor.The state government had taken a stand against these 15 columns whichitsaidhadcomeup on the river bed,affecting theflowof floodwater.
Cancellation of the project would affect exporters and importers and harm the port s revenue,officials said.At present,container trucks from southern districts move on ChennaiB ypassRoad via Maduravoyal,Madhavaram and Puzhal and Jawaharlal Nehru Salai (100ft Road ) to reachChennai port.
Those from the northern parts take the Manali Oil Refinery Road andE nnoreHighRoad.
The sorry state of carriageways in Minjur,Madhavaram and porthas been a matter of concernfor allstakeholders.Truckers said idling on these roads costs much on time and fuel.Sometimes trucks take a couple of days to move from Manali Oil Refinery RoadtoG ate 1of the port,a distance of hardly 5km.Early this year,the state PWD sought NHAI to change the alignment along the river Cooum to continue the work,but the highways authority found it impractical due to the geometric pattern of theelevatedstretch.
Asked if it was the end of the project,the NHAI official said,If the atmosphere turns conducive,we will continuethe project at a later stage. 
The state government is yet to file a counter to a public interest litigation that challenged its move to stall the project.

Scrapping e-way will sink port plans 

Projects Worth 4,000 Crore Will Suffer If Scheme Fails To Take Off 


The port will take a big hit if the proposed 19km Port - Maduravoyal elevated corridor project is to be dropped.Chennai Port trust chairman Atulya Mishra said any more delay or cancellation of the project would put in jeopardy projects worth 4,000 crore the port had embarked on,keeping the elevated highway in mind.
It was the expected lifeline for the port, Mishra said.It was meant to be the solution for congestion faced by containers.Still we hope that the project will be revived and completed soon, he said,adding that he is not aware of any decision to cancel the contract.Chennai port handles more than 3,000 container trucks a day.
Keeping this project in mind,the city port has begun two major projects: The 3,600-crore mega container terminal project and a dry port at an estimated cost of 500 crore near Sri Perumbudur.Both these projects will not pay dividends if the elevated corridor fails to take off.
When it was commissioned on September 14,2010 with a completion date of September 13,2013,the project was compared to other similar projects such as Mumbai trans-harbour project and the Hosur Road elevated expressway.When the state raised objections to the alignment of the project on March 29,2012,just 14.79% of the whole was over,shows an NHAI document.
Besides decongesting city roads,the project was to reduce the distance travelled by container trucks from 52km to 33km.It was meant to help save time and fuel,besides reducing the number of accidents on Poonamalle High Road and Tiruvottiyur- Ponneri- Ennore Expressway Road through which traffic is diverted now.Madras Port Trust Employees Union general secretary G M Krishnamurthy said the trade at port has been affected due to congestion.Traders from the southern districts find it difficult to move their consignments to the port.At a recent meeting,traders from Coimbatore said they wouldnt suffer anymore in the name of congestion in Chennai.A large chunk of imports have been diverted to the Vallarpadam container terminal near Kochi, said Krishnamurthy.
Union shipping secretary Vishwapati Trivedis meeting with chief secretary Sheela Balakrishnan had only a passive mention of the Port-Maduravoyal project,a shipping ministry official said.We are a third party in the project.And the tug of war between the state and the National Highway Authority of India (NHAI) has cost the port dearly, he said.


Pc0101300.jpg 
CHOC-A-BLOC : National Highways Authority of India said at least 140 car-carriers use Poonamallee Road every night 

Corridor would save many lives 

TIMES NEWS NETWORK 


The heavy flow of container trucks heading towards the Chennai port makes Poonamallee Bypass Road a dangerous stretch during the wee hours.
Since heavy vehicles are not allowed in the city during day time,trucks take the Maduravoyal via Poonamallee Road.Officers from the Poonamallee traffic investigation wing say that the Port Maduravoyal elevated corridor could save many lives.There are at least 30 accidents every day.Most of the accidents happen at night when the heavy vehicle movement is high, said a police officer.
Streetlights on the blink add to the danger.After an accident,the trucks do not bother to stop.Without lights,those at the spot cannot read the number plates.As a result,in most cases,we are unable nab the culprit, said the officer.
If the MaduravoyalChennai Port expressway were to come up,trucks will be segregated from the general traffic,making the road safer.
Officials from the National Highways Authority of India said that at least 140 car-carriers use this stretch every night.There are severe restrictions because these trucks cannot enter the city during the day.The elevated corridor would make the roads safer and reduce time taken by the trucks to reach the port, said a senior NHAI official.
Pc0101200.jpg 

 


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UNKIND UNWIND 

Going to the movies is an expensive outing today with multiplexes steadily hiking show rates.Experts say it is only going to get costlier 

Ruhi Batra | TNN 


Till maybe five years ago,the entire family could watch a movie for Rs 550.Today,thats what one ticket for a 3D show would cost at IMAX,Koramangla in Bangalore.Mumbai,too,is close to breaching Rs 500 mark with the Eid release Chennai Express.What you pay for the Shah Rukh-starrer at Juhu PVR Rs 450 ($7.34) is only slightly less than the average movie ticket price in the US $8.38 (Rs 510) a pop.Throw in popcorn and cola,and you could set a family of four back by Rs 2,500,reducing the cinema experience,one of the last bastions of weekend leisure,to mere pocket burn.
Over the last 15 years,multiplexes have changed the way Indians watch movies,but the better sound quality,cushioned seats and fresh buttery and flavoured popcorn have come at a steep price.According to the FICCI-KPMG Indian Media & Entertainment Industry Report,released in March,multiplex operators have increased ticket prices by 15 to 20% over the past year to cash in on the increasing footfalls and maximize profits.
There are four factors that influence pricing,says Jehil Thakkar,who authored the report.Location,condition,product and timing of the show, he says,adding,And simply put,if your consumer has the capacity to pay Rs 500 per ticket,then ticket prices will be on the higher side. 
Location seems to be one of the key factors that determine price.Big multiplex chains like PVR Cinemas,DT Cinemas and BIG Cinemas routinely charge more in the metros than they do in Tier 2 cities.This is also one of the reasons average ticket prices for multiplexes Rs 160 (single screen average is Rs 60),according to the FICCI-KPMG report are lower than what most customers fork out.Incidentally two states Tamil Nadu and Andhra Pradesh regulate ticket prices though most experts point out that the market and not legislation should determine rates.
Even within the same city,there are different ticket slabs,often determined by pin code.DT Cinemas,which has 29 screens across North India,charges Rs 390 over the weekend at its two premium locations,both at malls in South Delhi,while at Shalimar Bagh and Gurgaon tickets are just Rs 200.According to Anant Verma,director and business head,DT Cinemas,the logic is simple: premium properties attract customers who can afford to pay Rs 390.We have introduced a lot of cool features at these properties in Saket and Vasant Kunj, he says,listing a new and varied food menu,complete push back seating and state-of-the-art sound technology at these premium locations.
While purchasing power is an important determiner for ticket pricing,trade expert Komal Nahata says the pre-release hype also plays a role.If distributors and cinema owners think that the audience will pay whatever they want,they hike the rates and get away with it, he says.For Chennai Express,multiplex prices in Mumbai are up by around 40%.Similar hikes were seen during 2012s Jab Tak Hai Jaan and Son of Sardar releases.
While it is still possible to pay less than Rs 100 at multiplexes for certain show timings,owners defend their pricing by citing high tax and maintenance cost.The ticket price includes entertainment tax,which differs according to state (for instance,Maharashtra levies 45%,while Delhi is 20%),revenue shared with film distributors as well as what the multiplex makes.So for a ticket priced at Rs 120 in Delhi,for instance,Rs 20 is entertainment tax,and of the remaining Rs 100,Rs 45 goes to the film distributor (based on the current revenue share model),leaving the multiplex with Rs 55.The multiplex owner also has to pay several municipal taxes,including which include property tax,water tax,show tax,Indian news reel hire charges,annual license fees,PWD and electrical tax,hoarding tax,advertisement tax,VAT,etc.Verma says the high cost of diesel,maintenance and salaries has forced DT Cinemas to increase rates by 7-8 % this summer,while Nitin Datar,vice-president,Cinema Owners and Exhibitors Association of India,adds,In Mumbai,the property tax levied on a cinema was Rs 8 lakh earlier,now it is Rs 26 lakh.Where does the owner recover that cost from He either charges more or shuts down. 
Interestingly,the increasing cost of tickets hasnt impacted multiplex occupancy.The KPMG-FICCI report states footfalls at PVR Cinemas,Indias largest multiplex operator,have increased by around 38% from December 2011 to 2013.DT Cinemas last hiked its prices in April-May and Varma says,We havent had any complaints. Datar adds,If theatres are full that means people can afford to pay for value additions like ambience,good sound and better snacks, he says.Food and beverages reportedly contribute 20-22 % to multiplex revenues and sales have gone up by 15-20 %.And Thakkar says that tickets are likely to get costlier.Prices will go up at least in line with inflation and operating costs will continue to rise, he says.

4 WAYS 




TO GET THE REEL DEAL 




FOREGO 3D | 


3D is the industrys latest ruse to get you to spend more money.Most movies arent even shot in 3D and the effects are added later.Theres no need to watch Wolverine in 3D when Hugh Jackman looks just as menacing,or hot,in 2D.For movies like Life of Pi or Avatar,make an exception.

GO EARLIER | 


Morning shows are invariably cheaper than evening or late-night shows.If you cant be up early,watch movies from Monday-Thursday when tickets are cheaper.

LEAVE YOUR COMFORT ZONE | 


Ticket prices depend on pin code so if youre living in a tony area,youll have to pay more.For instance in Delhi,a movie in Vasant Kunj or Saket costs more than Greater Kailash though the popcorn tastes the same.In Mumbai,Lower Parel will cost you more than Kurla or Mulund.

SKIP THE SNACKS | 


This one has dual benefits.You save money and lose weight.Popcorn may seem innocuous enough but that bucket of popcorn and soft drink you wolfed down cost you Rs 265 and over 550 calories.If you have to eat,smuggle in something you bought from home or have a good hearty meal before watching a movie.

Pc0110900.jpg 

Pc0110500.jpg 

 


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Chennai set to hit a new high in housing

R. BALAJI

Buyers ready to shell out so they can make a style statement.

 

Just about a year ago the average home buyer did a double take on learning of the prices of top-end residences in prime areas of the city: a couple of projects offered homes ranging between Rs 3 and Rs 6 crore at the top end in large blocks of over 100 apartments each.

Well, in the works today are projects that together are 10 times bigger, at prices that start where the earlier projects left off. That’s how drastically the scene has changed.

Over the next couple of years, more than 1,000 apartments will be launched through a dozen projects in the heart of the city, priced at about Rs 5 crore to more than Rs 10 crore each. Most of these projects are to come up in what were considered “average neighbourhoods” in the 1970s — Nungambakkam, Egmore, Vepery, Adyar and Santhome, to name a few.

Every prime locality in Chennai is a potential Poes Garden or Boat Club — coveted addresses for those with deep pockets , said a developer.

One developer possibly jumped the gun by a couple of years recently when he announced a project offering individual houses for about Rs 25 crore to Rs 30 crore. Eight houses by the SPR Group were to come up on Nungambakkam High Road.

According to the group’s Managing Director Hitesh Kawad, there were only a couple of takers for the project. So we are now realigning the project, he said.

The earlier project was worked around a basic cost of about Rs 32,000 a square foot, with the houses havinga basement car park, a Turkish Bath at the second basement level, a branded gym, a common yacht for the community and an international concierge service. Chennai is not yet ready for such a project, he felt.

However, Kawad exudes confidence in another project that is to come up on EVK Sampath Road, Vepery. It will offer 40 apartments priced at about Rs 7–9 crore each.

Ravi Appaswamy of Appaswamy Real Estates is planning a project near Foreshore Estate where a popular hotel, The Oceanic, once stood. Over 100 apartments are to come up there with most of them priced around Rs 5-8 crore, some penthouses at about Rs 10 crore each.

FIT AND FINISH

Large independent houses are tough to maintain, the middle class is looking to the peripheries were new developments are coming up fast, and there is a demand for quality of life within the city. Large developments can offer that kind of lifestyle as common amenities, Appaswamy says, the fit and finish can be of international standards, apartments can offer a ‘bungalow-like feel’, and more open spaces can be created with high-rise buildings.

Ahamed Shakir, Managing Director, ETA Property Developers, says his company will soon launch a residential project on Greenways Road offering 51 apartments priced between Rs 4 crore and Rs 9 crore. He believes the benchmark prices are inevitable as land costs are soaring within the city. At about Rs 20,000 a square foot, ETA Property’s development in this prime locality will be competitively priced compared with some of the other projects that are to be launched in the coming year. In most prime residential areas in the city, land cost is well over Rs 11,000-12,000 a sq ft in terms of built up space, which is the FSI cost — the Floor Space Index, the permitted built-up space in a given area of land. Suresh Krishn of Isha Homes which is developing a four-floor project in Alwarpet has priced the units at about Rs 7.5 crore. With three projects in the area, it has sold all but one apartment. The smallest was a 1,000 sq. ft, two-BHK unit costing Rs 2 crore. Krishn is sure there is a demand for apartments up to Rs 10 crore in small projects. People want something different, says Krishn, a quality that flaunts their taste and lifestyle whether it is flooring or bathroom fittings or elevation. People want to make a mark, a statement.

balaji.ar@thehindu.co.in



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 STOP-WORK ORDERS 

MINISTER MAKES OFFICIALS PUT ENCROACHMENTS BACK ON ROAD 

Christin Mathew Philip | TNN 


Is political pressure preventing corporation officials from doing their duties On Tuesday morning,civic officials were clearing encroachments near Madhavaram new bus terminus.At 9.30am,local MLA and dairy development minister V Moorthy arrived and ordered the ward 30 corporation officials to stop work.Who asked you to remove this Did you get permission from me Come and meet me, shouted Moorthy and stormed off.
The frustrated officials had to put the structures they had removed back on the road.
In March,the corporation told the high court that illegal shops in public spaces would be removed in four months.I dont want to comment, said a corporation engineer.We were just following the orders of senior officials. 
When TOI tried taking photographs of the officials putting back the encroachments,local AIADMK functionaries stopped the reporter and forced him to leave the spot.Moorthy was unavailable for comment despite repeated calls.
P Srinivasalu,general secretary of CITU-affiliated union,said lower-level officials are always scapegoats for politicians.We are unable to work because of political influence, he said.
Former bureaucrat M G Devasahayam said most encroachments have the blessings of political parties.If politicians use their influence,how can the poor lower-level official 
take any action he said.
A counter-affidavit filed by corporation commissioner Vikram Kapur in the HC said the corporation had instructed zonal officers to enumerate street shops.
Legal experts said IPC sections 332 (deterring public servants from duty),341 (wrongful restraint) and 294b (use of obscenity in public) can be used to book people interfering with officials carrying out their duties.

Highways dept clears way for Eastern Bypass Road 

TIMES NEWS NETWORK 

Chennai: The state highways department on Thursday morning started razing properties in Selaiyur,near Tambaram,as part of preliminary work on the Eastern Bypass Road.
The department began the process of demolishing houses,shops and other establishments for Phase 1 of the project,which will involve widening a 4km stretch of Camp Road.
The Eastern Bypass Road was conceived to ease traffic congestion on Velachery Main Road and Grand Southern Trunk Road.It will connect Rajakilpakkam on Velachery Main Road and Perungalathur on GST Road.
Once the 9km long road is ready for use,motorists heading from the IT Corridor towards Chengalpet and Trichy will not have to pass through crowded Tambaram.
Highways officials on Tuesday said they were demolishing structures on land acquired by the department from Camp Road Junction in Selaiyur to Tiruvanchery.A highways official said several of the properties being demolished were being illegally held as the occupants had all been paid compensation.
Earlier,residents of the Sadhanandapuram-Aalapakkam stretch near Tambaram had asked the highways department to modify its plan for the proposed road.They refused to part with their land unless the alignment was changed.People in the area were against traffic being diverted to Tambaram,which they said was too congested,and proposed that the road should lead to Vandalur instead.
Highways officials,however,said any modification would be impossible.They said the project is part of CMDAs second master plan and its plan was drawn up based on traffic studies.
The bypass road will be 50 metres wide and pass through Madambakkam,Mappedu,Agaram,Tiruvanchery and Nedunkundram.
The state originally allocated 200 crore for the project.Civil work on the stretch will cost around 30 crore.


Pc0031600.jpg 
Shops and houses on Agaram Road were razed as part of work on Eastern Bypass Road 

Gangs find evicting tenants easy way to make a fast buck 

A Selvaraj TNN 

Chennai: Criminals in the city once started out as muscle in prostitution rackets or as ganja peddlers.With the surge in property prices,many lawbreakers are now joining gangs who evict tenants on behalf of landlords and then invest in real estate.
Law experts say this new breed of criminals is in demand because property owners looking to tap the market as it peaks find they have to contend with tenants who resist eviction.Retired police officer S Balasubramanian says land owners and developers engage these criminals.
Almost no one in Chennai uses the Rent Control Act,says a law expert.Under the act,a landlord must inform the district collector that his property is vacant.The collector is supposed to allot the property, he said.The rent controller,the small causes court judge,fixes the rent.Landlords do not follow procedure as they find it easier to hire goons to get rid of tenants. 
Madras high court lawyer T P Senthil Kumar said clients come to him with tenant problems.But they dont want to file a case as they are aware that the proceedings are long-drawn, he said.Most prefer to settle out of the court. 
Police say local thugs are making a quick buck by evicting tenants,taking possession of or guarding property.The money is ploughed back into the real estate market.
There are syndicates comprising politicians and policemen,lawyers,goons and selfproclaimed human right activists, a police officer said.House owners with stubborn tenants approach these syndicates that,for a price,use force to solve the problem. 
To evict people from a house on Kothari Road in Nungambakkam,estimated to be worth 3 crore,a gang received 50 lakh from the house owner.
The real estate mafia uses thugs even in auctions.During a TNHB auction at the boards Nandanam headquarters a few years ago,some land promoters brought goons with them to threaten people and help them win bids,a builder said.The goons scared away potential buyers.



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Bill promises flat buyers carpet area 

TIMES NEWS NETWORK 

Chennai: Home buyers can look forward to greater transparency in purchase of apartments once the Real Estate (Regulation and Development ) Bill is enacted.The bill was tabled in the Rajya Sabha on Wednesday.
Henceforth,builders selling apartments will have to specify the carpet area to the buyer.Until now,many used terms like super built-up area and plinth area to dupe customers.While plinth area is carpet area plus wall thickness,super built-up area includes common areas like lift room,staircase and corridors.There have been instances of builders loading 18% to 30% as common area.If common area is calculated at 30%,a person buying a 1,000sqft apartment gets to enjoy only 580sq ft (after deducting 12% wall thickness) as carpet area.Gullible customers often fall into such traps and end up staying in apologies for houses even after paying a hefty price.
The Confederation of Real Estate Developers Association of India (CREDAI) has welcomed the bill.It will go a long way in protecting the interests of customers, its president C Shekar Reddy said.
The bill has several other safeguards too.Introduction of a uniform model builder-buyer agreement will protect buyers from unscrupulous developers who tweak agreements in their favour.Similarly,builders will not be able to launch a residential project without approval from the development agencies.Sale of open car park area is banned,because such space is already covered in the sale of undivided share of land.
A builder cannot retain rights over the terrace and cannot retain a portion of the undivided share of land either.The entire undivided share of land is to be handed over to the buyer.Sale of private garden at the ground level is also prohibited.
These are welcome moves,but this instrument looks like it is aimed at reining in builders alone.We are just one of the stakeholders.There are three others like financial institutions that fund the project and give housing loans to buyers,statutory bodies that give approvals and service connections to the buildings,and finally the customers.A regulatory bill should cover all stakeholders if it has to be effective, said T Chitty Babu,former CREDAI secretary.
He said most often a project got stuck due to the delay in according approvals by development regulation bodies like municipalities,corporations and various wings of the state housing department.In times of financial crises,banks stop funding half way through a project.There are also instances of many buyers delaying payments.It is unfair to penalise builders for such delays,said Babu.
CREDAIs own grievance redressal mechanism has been successful,said Reddy.In the last one year,of the 550 complaints received by its NCR chapter,more than 500 were resolved.The Chennai unit received 12 complaints during the same period,of which nine were redressed,said Suresh Krishn,secretary,CREDAI Chennai.Most complaints relate to deficiency in service and levy of some additional payments by builders,which customers challenge,said Krishn.

TIGHTENING THE NOOSE 


The Real Estate Bill tabled in the Rajya Sabha on Wednesday lays down strict rules for builders to follow.Some of them are: Carpet area should be specified Uniform builder-buyer agreement Open area car park not to be sold Terrace rights to be given to buyers Sale of private garden at ground level prohibited


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Standoff continues as TN sticks to stand on elevated corridor project Julie Mariappan TNN Chennai: The standoff between the Centre and the state over the Chennai Port-Maduravoyal expressway continues,with Tamil Nadu reiterating its stand not to allow the National Highways Authority of India to disturb the Cooum river flow for the 1,815 crore project. At a review meeting in the secretariat on Tuesday,chief minister J Jayalalithaa is said to have told the PWD to offer NHAI other options to execute the project on the same route and not disturb the flood discharge in the river.The meeting assumes significance in the wake of the Madras high court asking the state government to file a counter-affidavit to an NHAI petition challenging the PWDs stop-work notice.The case is listed for hearing on Wednesday.The DMK had organized a protest on Saturday against the states confrontation with the Centre. In February 2012,a notice was issued to the NHAI project director,directing him to stop work on the elevated road and citing deciation in alignment.The PWD contends there is a specific condition that the alignment of the expressway should be along the river bank only.But this has not been complied with,especially near Spurtank Road in Chetpet,it said. The NHAI does not agree.The river boundary is not uniform.If the PWD insists on the alignment being along the bank,many concrete buildings will have to be pulled down, said an NHAI official,ruling out the possibility of considering an alternative alignment.It was not a straight road.It was a river and its geometric pattern had to be considered, he said. If there is a flood discharge of 25,000 cusecs (cubic feet per second),the present alignment of the elevated road would pose a serious danger to the neighbouring areas,PWD officials said. PWD officials say that the present alignment of the elevated road would pose a danger to neighbouring areas if there is a flood discharge

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Standoff continues as TN sticks to stand on elevated corridor project 

Julie Mariappan TNN 

Chennai: The standoff between the Centre and the state over the Chennai Port-Maduravoyal expressway continues,with Tamil Nadu reiterating its stand not to allow the National Highways Authority of India to disturb the Cooum river flow for the 1,815 crore project.
At a review meeting in the secretariat on Tuesday,chief minister J Jayalalithaa is said to have told the PWD to offer NHAI other options to execute the project on the same route and not disturb the flood discharge in the river.The meeting assumes significance in the wake of the Madras high court asking the state government to file a counter-affidavit to an NHAI petition challenging the PWDs stop-work notice.The case is listed for hearing on Wednesday.The DMK had organized a protest on Saturday against the states confrontation with the Centre.
In February 2012,a notice was issued to the NHAI project director,directing him to stop work on the elevated road and citing deciation in alignment.The PWD contends there is a specific condition that the alignment of the expressway should be along the river bank only.But this has not been complied with,especially near Spurtank Road in Chetpet,it said.
The NHAI does not agree.The river boundary is not uniform.If the PWD insists on the alignment being along the bank,many concrete buildings will have to be pulled down, said an NHAI official,ruling out the possibility of considering an alternative alignment.It was not a straight road.It was a river and its geometric pattern had to be considered, he said.
If there is a flood discharge of 25,000 cusecs (cubic feet per second),the present alignment of the elevated road would pose a serious danger to the neighbouring areas,PWD officials said.


Pc0032000.jpg 
PWD officials say that the present alignment of the elevated road would pose a danger to neighbouring areas if there is a flood discharge 



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Builders body to beef up grievance redressal system 

Jayaraj Sivan TNN 

Chennai: Ahead of the enactment of a real estate regulatory bill to infuse transparency in the housing sector and rein in unscrupulous builders,the Confederation of Real Estate Developers Association of India (CREDAI) is giving a new thrust to its self-regulatory mechanisms of making all members sign the ethical code of conduct and strengthening its consumer grievance redressal fora at various levels individual chapters,state bodies as well as atthe nationallevel.
However,taking these practices to the various chapters willbe a big challenge,given the resistance putup by a fewbuilders in Chennai in the past.One of the conditions in the code is that builders should launch projects only after approval by regulatory agencies like CMDA and Directorate of Town and Country Planning.Some builders chose to leave CREDAI a year ago,refusing to sign the code.As on date,all CREDAI members in TN have signed the code,as have members in the National Capital Region and Karnataka.Of the 123 chapters in thecountry,73 are yettodoso,sourcessaid.
T Chitty Babu,chairman of the CREDAI committee that overseesimplementation of the code of conduct and consumer grievance redressal forum,said,The code of conduct and grievance redressal forum are aimed at creating a level-playing field for all by making all transactions transparent as well asethically right.Abuilder whosignsthecodeendsup complying with much of what is saidin the regulatory bill. 
An ethical and transparent approachis necessary toensure growth for the business in the present situation,said CREDAI chairman Lalit Kumar Jain.The non-judicial forum will hereafter also have an outside member either an architect or a lawyer said Babu.Some CREDAI units levy 1,000 per complaint from consumers to weed out false petitions.But,if thecomplaintis genuine,thedeveloper has to bear the cost.No suchfeeisleviedin TamilN adu.



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