Saturday, January 26, 2008

Township craze in Chennai

Realty vendors have unleashed their marketing hounds to make a killing in selling township dreams in this southern city. Capitalizing on the IT boom on Old Mahabalipuram road (OMR as its called inspite of the new name Rajiv Gandhi IT highway) leading players like DLF, L&T and Hiranandani have launched super-sized projects of over 2000 apartments each in the vicinity of OMR. The results have been spectacular as people are rushing in to buy apartments in case the miss out on the launch price specially with DLF and L&T. The other existing players of Chennai like Jains, Arihant too seemed to have launched projects there though the hype made by the national developers is going to drive national attention to a place known for its temples and saltpans. The developments around OMR too merit some attention with IT bigwigs making a bee-line to setup their captive centers on both sides of the road. With TCS/Infosys/Wipro and others having commissioned big campuses, its a matter of time that this place is buzzing with activity. One hopes the road is fixed up and becomes a true national highway. For what its worth the prices are below. Beware prices change faster then you can say "Sarvana Bhavan"

1) Hiranandani Upscale – 800 increased. – Rate 4100/sqft - Apr 07 - 3600 - went upto 4400
2)Purava Swan Lake - 650 increased. Rate 3600/sqft - Rs.2950
3)Purava Windermere - Rate 2790/sqft Not launched yet
4)L&T South City – Is it new? Is this the start rate? - Rate 3600/sqft
5)L&T Estancia - 550 increased. Rate 3500/sqft - rs 2950 Apr 2007
6)Mantri Synergy - Rate 3700/sqft
7)Chettinad Enclave (villa) - Too much - Rate 4250/sqft - Rs.1975 in Oct 2005
8)DLF Township - 400 increased. Rate 3200 / sqft- Rs2800 2 weeks ago..
9) Lancor in clasic - 1300 increased. Rate 4100, year ago Rs 2800/sqft
10) Akshya
11) Olympia Opaline
12) City Square
13) Aharihant Heirloom
14) Jain Iselin - ??? starting price rs.2900 in Apr 07