Most growth in this city occurs in the sale of houses exceeding Rs 4 crore.

According to a report released today by real estate firm CBRE, sales of luxury houses valued at Rs 4 crore and above rose 97% over the previous year in the seven major Indian cities between January and September 2023. 

The report states that Hyderabad, Mumbai, and Delhi-NCR account for 90% of all sales of luxury homes. 13% came from Hyderabad, 35% from Mumbai, and 37% from Delhi-NCR. Pune is responsible for the final 4%.

The desire for higher living standards, a strong economy, rising disposable incomes, and a shortage of luxury homes in large cities all contributed to an uptick in luxury home sales.

According to CBRE, there will likely be additional growth in the sales of luxury homes from the October through the December holiday season. The company anticipates a rise in people purchasing luxury homes for the first time in the October-December quarter. 

“A growing Indian economy and rising aspirations are the causes of this spike. Aside from the post-pandemic need for larger spaces, some of the reasons for this surge in luxury home sales are incentives by developers. 

According to the CBRE report, there will be a spike in residential sales and new launches in the premium and luxury housing segment due to economic growth, advantageous regulatory measures, and changing lifestyle preferences. It could result in residential sales reaching a 10-year high in 2023. 

It further claimed that as buyers look for larger living spaces following the pandemic, developers’ incentives and the introduction of smart home technology are driving the surge in sales of luxury houses. 

According to CBRE, this increases the rising demand for luxury properties among high-net-worth individuals (HNIs) and non-resident Indians (NRIs) looking for safe and lucrative investment opportunities. 

These patterns imply that the Indian real estate market is seeing the growing importance of luxury residences.  

Chennai’s Oragadam district is home to the newly designed Godrej Sunrise Estate.

Do you want to purchase or invest in land next to a vast 250-acre forest encircled by greenery? Godrej Sunrise Estate is Godrej Properties’ first-ever planned development project in Chennai. What makes this project so appealing as a purchase, and what makes it unique? Investigate its cost and geographic benefit to find out.

One of the most reputable brands in India’s real estate industry, Godrej Properties, introduced the project. Godrej Properties’ Sunrise Estate has a registration number of TN/01/Layout/3492/2023 with the Tamil Nadu Real Estate Regulatory Authority (TN RERA). Discover its USP, cost, features, Payment schedule, and other important information.

An overview of the Godrej Sunrise Estate project in Oragadam

About 1,000 residential plots are available in the 60-acre gated community of Godrej Sunrise Estate. The park and green areas occupy about six acres of the project area. The park and green areas occupy about six acres of the project area. Remarkably, 250 acres of Vattambakkam Reserve Forest encircle the project. It indicates plenty of greenery and a healthy environment for the residents to enjoy and unwind in.

Orgadam’s Godrej Sunrise Estate: Highlights of the project

Let us examine some of the main USPs of Godrej Sunrise Estate in Oragadam, Chennai:

  • Godrej Properties’ first-ever planned development in Chennai
  • The presence of four themed parks
  • The Vattambakkam Reserve Forest is nearby.
  • A 1.3-kilometer walking trail and an 800-meter bike path 
  • Tucked away next to a calm lake and pond. 

Oragadam’s Godrej Sunrise Estate: Project features

The facilities at Godrej Sunrise Estate were to meet the need for a contemporary, health-conscious lifestyle. The project’s four themed parks- Exploration Park, Cultural Park, Serene Park, and Healing Park- are some of its most notable features. The project’s clubhouse is about 12,000 square feet and has a (G+2) structure. 

The following are some of the main amenities the project will provide: 

  • Main Court
  • Arena of Campfires 
  • Children’s Play Area
  • Camping Ground 
  • Tot-Lot Section 
  • Canine Park 
  • A fitness center
  • Areas for Senior Citizens
  • Crossfit Hall
  • Ground for Multiple Activities 
  • Versatile Play Area
  • Garden of Flowers 
  • Tennis Court 
  • Herbaceous Garden
  • A Cricket Box 
  • Yoga Area
  • Garden of Aromas 
  • Meditation Area 
  • Orchard 
  • Running Route 
  • City Forest 
  • Cycle Route 
  • Gathering Court 
  • Acupressure Route 
  • Pool for Swimming 

Details about the price range and plot size of Godrej Sunrise Estate in Oragadam

The developer at Godrej Sunrise Estate is offering plots ranging in size from 600 square feet to 2400 square feet. The price of the land varies from about Rs 18 lakh to Rs 65 lakh. A seven percent stamp duty and registration fees based on the value of the land are among the state taxes that apply to the plots.

  • 600 sq ft – Rs 17.99 lakh
  • 1500 sq ft –  Rs 44.99 lakh 
  • 1800 sq ft – Rs 49.99 lakh 
  • 2200 sq ft – Rs 54.99 lakh 
  • 2400 sq ft – Rs 64.99 lakh

An Overview of Godrej Sunrise Estate in Oragadam 

Several important topics were discussed in the earlier sections of Godrej Sunrise Estate, including cost, financing options, and facilities. It is time to learn more about Oragadam, the project’s location, and its potential for future developments in terms of social amenities, connectivity, and price trends. Finding out more about these crucial elements will aid in estimating the potential return on investment for the project.

Connectivity around Godrej Sunrise Estate in Oragadam, Chennai 

Oragadam, a burgeoning micro market in West Chennai, is a well-known industrial center that houses auto companies’ manufacturing facilities. Excellent road and motorway networks guarantee easy mobility between Oragadam and other city areas. The following shows how far Godrej Sunrise Estate in Oragadam is from landmarks:

  • Oragadam’s proximity to SH-48 and SH-57 improves its connectivity to the rest of the city. 
  • The main routes that lead to passing close by are Perumalpattuu-Kottamedu Road and Tambaram-Mudichur-Oragadam Road. 
  • The Chennai-Nagapattinam Highway takes about 37 km to get to the project site from the Chennai International Airport.
  • The KAI Commuter Yogyakarta Line’s Padur Station, which is about 10 kilometers away, is the closest train station. 

Let us now examine the social amenities that make this neighborhood a great place for locals to live. 

Chennai’s Oragadam: Social facilities 

Schools and hospitals, among other vital social amenities, are close to Oragadam, Chennai.

  • Thriveni Academy Sr. Sec. School- PSP Medical College – Kummavakkam Lake 
  • APN Vidyalaya Matriculation Hr. Secondary School- Rela Hospital- Vallakottai Murugan Temple 
  • Government High School- Parvathy Hospital- Sri Agatheeswarar Temple  

Chennai’s Oragadam: Cost trends over the previous five years

About 60% of the total residential inventory in Oragadam, an affordable suburb of Chennai West, consists of residential plots. Conversely, with inventory making up about 23% of the total, residential apartments are the second most desired property type. Plots in Oragadam typically cost Rs 1,500 per square foot. Over the previous five years, prices in the area have increased by roughly 20%. 

Chennai’s Oragadam: Potential for Investment

In and around Orgadam, several significant infrastructure projects are in the works. We expect these to raise the area’s connectivity quotient. Here are some significant advancements that are either planned or in the process of being built:

  • The Sriperumbudur connector point (20 km away) will be part of the Chennai-Bangalore Expressway, which is currently under construction. Following the completion of the expressway, commuters ought to have improved intercity connectivity. 
  • Singaperumalkoil, which is 19 km away, will be crossed by the future Chennai Peripheral Ring Road, which will be advantageous to the locals in terms of connectivity.
  • Because of the proposed medical devices park in Oragadam, employment opportunities in the area should improve. 

Property values in Oragadam will continue to increase in the upcoming years because of these building projects. Therefore, given the current circumstances, it seems worth investing in Godrej Sunrise Estate. Before acting, an investor should, nevertheless, constantly monitor the project’s development and consider the advice of a real estate consultant regarding the marketing’s economics.   

Chennai Furnished Luxury Apartments for Rent

People look for homes in cities like Chennai for a variety of reasons. Some people only need a place to sleep at night or a roof over their heads. Long-time residents consider it their home. 

The former group chooses rentals because they better suit their needs. In Chennai there are some luxury apartments available for rent. 

For those looking for a high-end living environment, renting a luxury apartment in Chennai has several advantages. The following are some significant benefits of leasing a posh apartment in Chennai:

  1. High-end living spaces: Luxury apartments are created to offer upscale living areas with first-rate amenities and fine finishes. These apartments frequently have open floor plans, contemporary architecture, chic interiors, and top-of-the-line fixtures and appliances. Renting a luxury apartment gives you access to a welcoming and attractive living space.
  1. Improved Amenities and Facilities: In Chennai, luxury apartments frequently feature a number of upscale amenities and facilities. Swimming pools, fitness centers, beautifully landscaped gardens, concierge services, round-the-clock security, designated parking spaces, and recreation areas are just a few examples. The opportunities for rest, exercise, and socializing within the apartment complex itself are provided by these amenities, which contribute to an opulent and practical lifestyle.
  1. Prime Locations: In Chennai, luxury apartments are frequently found in desirable locations. These areas might have good access to important business districts, shopping malls, medical facilities, educational institutions, and entertainment hubs. The benefit of having quick access to necessary amenities and a bustling city lifestyle when renting a luxury apartment in such areas.
  1. High-quality Services: Chennai’s high-end apartments may also provide extra services like housekeeping, maintenance, and on-site property management. By handling routine tasks and ensuring the proper maintenance and upkeep of the property, these services help you save time and effort. Having professional services at your disposal enhances the overall living experience.
  1. Security and privacy: To protect residents’ privacy and safety, luxury apartments frequently place a high priority on security measures. They might make use of cutting-edge security measures, CCTV monitoring, and on-site security guards. These precautions offer residents and their possessions peace of mind and a secure living space.
  1. Opportunities for Community and Networking: Living in a luxury apartment may present chances for networking and socializing with people who share your interests. The apartment buildings may plan community activities, social gatherings, or amenities that are only available to residents in order to promote a sense of neighborhood and interaction.
  1. Flexibility: You have time flexibility when you rent a high-end apartment. Whether it is a short-term rental or a longer-term agreement, you can select lease durations that meet your needs. With less commitment than a long-term real estate investment, you can change your living situation to suit changing circumstances thanks to this flexibility.

A variety of amenities are frequently provided by furnished luxury apartments in Chennai to improve residents’ comfort and convenience. Here are some typical amenities you can anticipate to find, though specific amenities may vary from one apartment complex to the next:

  1. Interiors that Are Fully Furnished: The interiors of luxury apartments are tastefully decorated and luxuriously furnished. This includes elegant decor, high-end flooring, elegant lighting fixtures, and furniture of the highest caliber.
  1. Appliances: Standard amenities found in furnished luxury apartments include a refrigerator, microwave oven, dishwasher, washing machine, and dryer. With the help of these appliances, you can manage your daily tasks more easily and live more comfortably.
  1. Heating and Air Conditioning: Because of Chennai’s occasionally hot and muggy weather, luxury apartments frequently have effective air conditioning systems to keep the interiors cool. For the colder months, some apartments may also have heating systems.
  1. Security systems: In opulent apartments, security is a top concern. In order to protect residents, these apartments frequently have high-tech security features like intercom systems, CCTV surveillance, access control systems, and 24-hour security personnel.
  1. High-Speed Internet and Wi-Fi: Most furnished luxury apartments provide high-speed internet connectivity and Wi-Fi access. This allows you to stay connected, work remotely, and enjoy online entertainment seamlessly.
  1. Gym and Fitness Facilities: Many luxury apartments have well-equipped fitness centers or gyms on the premises. These facilities offer a range of exercise equipment and space for residents to maintain their physical fitness conveniently.
  1. Swimming pool: In order to beat the heat and unwind, upscale apartment buildings frequently have swimming pools. These swimming pools, which can be indoor or outdoor, offer locals a cool place to unwind.
  1. Clubhouses and Common Areas: Residents of luxury apartments frequently have access to clubhouses or other communal spaces where they can mingle, host events, or unwind. Lounges, conference rooms, banquet halls, and landscaped gardens are a few examples of these spaces. 
  1. Parking: Luxurious apartment buildings frequently offer parking spaces. The convenience and security of residents’ vehicles are guaranteed by designated parking spaces or covered parking areas.
  1. Power Backup: Because Chennai occasionally experiences power outages, upscale apartments frequently have power backup systems installed. This ensures continuous electricity supply within the apartment complex during such instances.
  1. Maintenance and housekeeping: To take care of repairs and maintenance, some luxurious furnished apartments offer maintenance services. Additionally, housekeeping services might be offered to maintain the cleanliness and upkeep of the apartment.

The ability to live a refind and comfortable lifestyle with access to first-rate amenities, first-rate services, and a prime location within the city is made possible by renting a luxury apartment in Chennai. 

Why Is Chennai’s Tallest Building So Popular?

This list of the tallest buildings in Chennai ranks high-rise and skyscraper structures in Chennai, India, according to their official height. When finished in 1959, the LIC Building in the city was the tallest structure in India. Chennai is experiencing a massive high-rise boom, with numerous high rises throughout the city. SPR City Highliving District in Perumbur is the city’s prominent highrises, including the World Trade Center at Perungudi, the Houses of Hiranandani in Egattur, the TCS Signature Towers at Siruseri, the TVH Ouranya Bay at Padur, the LIC Building at Mount Road, the Hyatt Regency Chennai at Teynampet, and the Arihant Majestic Towers at Koyambedu. 

SPR Highliving District is a building that consists of three residential skyscrapers in Chennai’s Perambur neighborhood. The tallest one is a 45-story building that serves as Chennai’s tallest residential building. 

SPR India, a South Indian real estate developer, signed an MoU with the Tamil Nadu government to invest $ 55,000 million in real estate projects in the state during the 2019 Global Investors Meet. A 65-acre integrated township at Binny Mills in Perambur is one of the investments. Construction began in 2018 and will finish in 2020. 

The towers sit on an 18-acre plot known as the SPR Highliving Towers, a component of the 63.89-acre SPR City Perambur, Chennai’s largest integrated township. The first phase of the residential apartments includes three towers and a 3.5-acre park, which is said to be the city’s largest private park. 

The three towers have a total of 684 apartments. Towers A and B each have 36 floors and stand 144 meters tall. Tower H has 45 floors and a height of 172.5 meters (566 feet). Tower A will have 216 apartments, Tower B will have 288 apartments, and Tower H will have 162.5 apartments. The towers will have two basement floors, a ground floor, two upper floors for shops, and 48 floors of residential space. 

The township has a total built-up area of 5.5 million square feet, including three million square feet of retail space and 2.5 million square feet of residential infrastructure, warehousing, and parking. 

It also houses a prestigious cricket academy and a prestigious badminton academy. In the township, the Shri Ram Universal School has already begun operations. The integrated township project anticipates creating more than 133,000 direct and indirect job opportunities. 

Following the completion of SPR City Phase 1, Towers C, E, F, G, and I will soar to a height of 172 m (564 ft) with 45 floors each, with Tower D being the 65-story tallest skyscraper to rise to 243 m (797 ft). AAI has also approved a maximum height of 243m. As part of Phase 2, a 12-story hospital tower, a mall, and an IT park have occurred. 

10 Facts About Chennai’s Tallest Residential Building 

Perambur, a Chennai neighborhood, now has a distinctive landmark. SPR Highliving District is Chennai’s tallest building. It was built by the SPR Group, One of Chennai’s most reputable builders. This 18-acre residential complex includes Chennai’s most reputable builders. This 18-acre residential complex includes Chennai’s tallest tower and is located in the city’s largest integrated township, which spans 63 acres.  

SPR Highliving District Basic Information (Chennai’s Tallest Residential Buildings) 

SPR City is Chennai’s largest integrated township, located in the city’s heart. The tower’s height is not the only distinguishing feature; there is much more to this architectural marvel. This giant residential development stark in the middle of the city offers all conceivable amenities and luxury features. 

This one-of-a-kind residential development is a boon for those looking for sheer luxury within the very limits of Chennai city, proving to be a paradigm of urban living standards and sophisticated design and architecture. 

  • The massive structure is a one-of-a-kind urban residential apartment complex in north Chennai. North Chennai is the city’s oldest neighborhood, and it embodies the city’s true soul and spirit. Contrary to the common misconception about the real estate activity in the zone. 

SPR City Highliving District has the distinction of being Chennai’s tallest building. When you buy your home here, you are reserving a place to live for the rest. 

  • Astonishing Engineering feat with Unheard Amenities 

This one-of-a-kind massive residential project offers sheer luxury and ground-breaking amenities such as art centers. 

  • Miniature theatre 
  • Gymnasium 
  • Wrestling 
  • Creches 
  • Wrestling 
  • Sports club 
  • Temple 
  • The Township’s Specifications 

This prestigious residential complex houses not only exclusive towers but also unique features: 

  • 63-acre township amid Chennai’s thriving metropolis
  • Size of development: 18 acres
  • Tower H is the tallest structure in South India.
  •  Three towers with 2, 3, and 4-bedroom apartments and duplexes. 
  • Apartment sizes range from 1335 to 3715 square feet. 
  • Unparalleled Amenities Provided by the Unique Residential Complex 

Living in the tallest building naturally provides residents with unique benefits. In addition to this benefit, SPR City Highliving offers the following amenities: 

  • 5 lakh square feet of green space 
  • Garden area
  • Observation deck 
  • The magnificent central courtyard
  • The swimming pool 
  • Indoor sports and recreation facilities 
  • A well-organized library 
  • High Living Standard

SPR Highliving high-rise residences provide two distinct advantages: a clean environment and an excellent view. The SPR Highliving residential towers, designed and built by global standards, promise residents a high quality of life while providing the best investment opportunity. 

  • A Healthy and Peaceful Environment 

Residents enjoy exclusive benefits such as zero noise pollution and clean, sanitary air, which are uncommon in metropolitan areas. Residents can practically soak in the healthiest urban environment possible in these towers, which have breathtaking views from every floor. 

  • Market Under One Roof 

The market of India, one of the largest organized wholesale markets that will serve all traders in one location, is set to open within the SPR City township. This market, which has over 5000 shops and office space, is just minutes away from the residences. It will meet all of the residents’ purchasing needs. 

  • Exceptional Accessibility 

Perambur is centrally located in Chennai. The SPR Highliving District is well-connected to the rest of the city by road and rail. A local railway station and bus terminal are located in the Perambur neighborhood. 

  • Perambur’s SPR City has a lot of social infrastructure. 

SPR City township is situated in an area with numerous educational and medical facilities. Sri Bala Vidyalaya. Angel Matriculation School, KRM Public School, and St Joseph’s Anglo Indian School are among the top-ranked schools in the area. Sen Hospital, Srinivas Priya Hospital, and Shepherd Nursing Home are among the renowned hospitals serving the neighborhood. 

  • Exclusive Luxury Benefits 

In SPR Highliving District, a staggering 45-story tower houses all conceivable luxury amenities. High ceilings, spacious rooms, and personalized amenities are just a few of the unique features available. 

What sets the SPR High Living District Apart? 

The new upcoming project of SPR Highliving, launched by the reputable and reliable SPR Group, is the most modern residential real estate property that offers apartments with varying specifications to suit the budget and preferences of homebuyers from various financial and social strata. 

SPR Highliving Chennai’s tallest residential building, is about to become a lifestyle statement in the city. It is expected to be Chennai’s next real estate hotspot. Purchasing your dream home in this magnificent residential complex will allow you to live a tranquil and luxurious life. 

Discover Your Dream Home: Houses for Sale in Chennai

Chennai is one of the most popular residential markets in India. It is the perfect location for real estate investment because of its growing economy and high-end industries. 

Chennai is the hub of national and international business, including IT, automobiles, electronics hardware, banking and finance, medical tourism, textiles, petrochemicals, and other industries with headquarters in the city. 

Areas like Vanagaram, Ambattur, Avadi, Anna Nagar, and Porur are becoming popular because of their location and thriving infrastructure. 

If you’re thinking of investing in property that offers a reliable return on investment, then investing in Chennai is a great option. For buyers, these homes are a smart choice to live comfortably with all the amenities.

These flats are available for sale at Rs 26.6 lacs in a prestigious area of Veerapuram, Chennai. The building faces north and is close to important sites like Veltech College, Avadi, and Thirumullaivoyal. 

Houses for sale in Chennai, India 

Choosing the right house for your home is a big decision and can be expensive. There are many factors to take into consideration, including the kind of house, location, and amenities.

The best way to ensure the best option is by doing your research and asking questions. This will help you reduce your options and guarantee that you can afford the home of your dreams. 

There are many different kinds of houses for sale in Chennai, including pre-owned, brand-new, and under-construction homes. Apartment towers, single- and multi-story townhouses, as well as standalone villas and bungalows, are among the most common types of homes.

There are more than 500 of these available on Propertywala in a range of prices and areas. From 2-BHK to 5-BHK homes are for sale in the most-liked neighborhoods, including Patelguda, Beeramguda, Tarnaka, Muthanga, Isnapur, and many more.

Houses for Sale in Chennai under 40-60 Lacs

In Chennai, there are many different kinds of houses for sale. Flats from 1-BHK to 3-BHK are available. For your family, buying a home in Chennai can be a great decision. It is a secure investment, and it can reduce your housing expenses. 

The type of house for sale you choose depends on your budget. You have the option of purchasing a newly renovated flat, or a newer property with an attractive price tag. 

In Chennai, you can also purchase a flat built with premium-quality materials. These flats will come with a wide range of amenities that will make your life easier and more comfortable. 

Are you looking for a flat in Chennai that is in this range? You can visit our website to check the number of properties in Chennai in Gudvancheri, Avadi, Thirumullaivoyal, and many more. 

Old House for Sale in Chennai

When it comes to houses for sale in Chennai, options are available. If you want to purchase a property, old houses can be an option with a good location. 

Old houses in Chennai are very appealing to buyers as they have very affordable prices, and these houses are located in popular areas.

For instance, you can purchase flats in the places of Triplicane, Madambakkam, Vadapalani, Choolaimedu, Ayanavaram, Adambakkam, and Perambur. These areas are close to shopping centers, supermarkets, and grocery stores with a variety of amenities.  

Second Houses for Sale in Chennai

In Chennai, there are many second-hand houses available for purchase. These include resale homes under construction and ready-to-move-in properties. These are reasonable choices that let you purchase a home within your budget. 

You can find a property that satisfies your needs depending on the neighborhood, builder, and BHK configuration. 

These apartments are a great option if you want to live close to your office, school, or other conveniences. 

Duplex Houses for Sale in Chennai 

A duplex apartment or two-story building is a perfect choice for those who are looking for a home to live in with their family. Depending on the needs of the buyers, different types of houses are constructed with different designs. 

This duplex’s upper floor has a single or double bedroom and a child’s room, while the lower floor is home to the kitchen and living room. For many homebuyers who prefer to have a garden attached, this house type is a popular option.

For anyone looking to relocate to Chennai, a duplex home can be a fantastic investment. In the city, several banking institutions provide appealing incentives for first-time homebuyers. These banks frequently lend 80% of the value of the house. It is best to conduct market research before making a choice.

You can search for these flats on our website or contact our team to inquire about your preferred property. Propertywala provides you with information about every property possible in Chennai, from  1-BHK flats to 5-BHKs, in every location possible. 

Ascendas India Trust to acquire Industrial Project in Chennai


Ascendas Property Fund Trustee, curator of Ascendas India Trust (a-iTrust), has signed a forward purchase agreement with Casa Grande Group. According to this agreement, they will acquire Casa Grande Group’s first industrial plant in Mahindra World City, Chennai. The company announced this deal in a media release. 

The project is an industrial plant with a net leasable area of approx. 0.42 million square feet. It is pre-leased to Pegatron Technology India, a wholly-owned subsidiary of Pegatron Corporation, with a 7-year lock-in period and annual hikes. 

a-iTrust will also offer funds for the development of the project under the Forward Purchase Agreement. It offers to fund the development of the project on the completion of certain circumstances. One of them is, it will acquire 100% of the shares of the entity that develops the project.

It also has the opportunity to offer more funding for the development of industrial amenities. These industrial amenities will be approx. 0.37 million square feet, subject to lease and other conditions to be met. Construction expected to complete in mid-2021.

The preliminary effect of the proposed acquisition for the financial year 2020 per unit distribution (DPU) became 0.04 Singapore cents. The acquisition of this industrial property will increase the size of a-iTrust’s committed portfolio by 1.8% from approx. 22.8 million square feet to approx. 23.3 million square feet.

Also read:-

RLDA Invits Bids for Residential Tower in Chennai’s Wall Tax road

Govt. to issue Rs 625 crore for pending Amrapali projects

Housing Projects for Seniors, Bangalore Tops The List

There are seven housing projects for seniors in Bangalore. The city is far ahead to the others like Chennai and Pune which has three each such projects.

Bangalore is one of the prime IT hubs in India. It is known for its IT development. Temperate climate, end-user oriented residential sector, stable property prices, etc. were some of the most used adjectives for Bangalore city. Adding to all these is the top position for developing most number of housing projects for the ‘seniors.’ Continue reading

Essel Group to Raise Rs.1000 Cr PERE Fund

Private Equity wing of Essel Financial Services Ltd plans to launch its first real estate fund. The Rs.1000 Cr PERE fund will be invested in the residential sector.

Essel plans to raise Rs.1000 Cr for investing in residential sector.

Essel plans to raise Rs.1000 Cr for investing in residential sector.

MUMBAI: Private Equity wing of Essel Financial Services Ltd has already raised Rs.200 Cr. The fund will be invested in the real estate sector. Essel Group plans to develop housing projects in top cities across the subcontinent.

Private equity in real estate (PERE) is increasing in India. 2012 saw 32 PERE investment deals. Nearly PERE Funds worth $464.26 million was invested in last year. This is well above $310.88 million in 2011 which saw only 15 such deals.

The PE wing of Subhash Chandra-owned Essel Group plans to launch a Rs.500 Cr fund. The group also has plans to raise another fund of the same amount. The fund will be raised from domestic investors.

Essel Financial Services CEO and MD of Amit Goenka said that developers raise huge demand for capital. He added that most of the projects are stuck, due to the lack of capital. He finds delay in approvals as another reason for the stuck projects. Continue reading

Pallavaram Booms, Connectivity to IT Hubs Remains Keen

Pallavaram in Chennai now witnesses a surge in the property prices. Property prices in the area soar very quickly due to its close connectivity with the IT hubs.

Pallavaram in Chennai booms due to its close proximity to the IT hubs.

Pallavaram in Chennai booms due to its close proximity to the IT hubs.

CHENNAI: Pallavaram in Chennai is a place of historical importance. The area is more connected with Pallava dynasty. However that is not what concerns the home buyers of the area. They are worried over the surge in property prices.

Due to many reasons, Pallavaram is one of the most popular residential destinations in Chennai. The area is just 17km away from Chennai city. Moreover it is well-connected to the Thoraipakkam and Shollinganallur, two IT hubs.

Due to its close proximity to these IT corridors, the demand for housing units has increased. There is a hike in property prices in equal proportion to the demand.

Living in Pallavaram means living away from the hustles and bustles of the city. The area is 7-10 km away from the IT hubs. And so it is easier for those IT professionals to stay here and work. Continue reading

Iyyapanthangal in Chennai Entices Buyers With Connectivity

With infrastructure growth in the area, Iyyapanthangal in Chennai has become one of the most sought after destinations in Chennai. The area now offers better connectivity to the people here.

Connectivity boost the growth of Iyyapanthangal

Connectivity boost the growth of Iyyapanthangal

The home buyers are always keen to know the connectivity of the area. Once they feel that a residential property is located in a location where they can enjoy better connectivity, their sentiments are boosted and they readily buy out the property. This is what happens in Iyyapanthangal in Chennai now.

Iyyapanthangal; an area located in the Sriperumbudur Taluk of Kancheepuram district, has carved a place for itself in the Chennai’s real estate landscape. The growth of the area is mainly due to its improved connectivity and infrastructure development.

Iyyapanthangal is rightly supported by better connectivity and infrastructure. The residents of the location enjoy better advantages as it is situated between the Bangalore Highway and the Grand South Trunk Road which provides better connectivity.

Connectivity and infrastructure development affects the property prices of the area which move upward day by day. The average capital value for the properties here range from Rs.4000 to Rs.6000 per sq. ft. There is an increase in the rental rates of the area as well. Continue reading

Real Estate Chennai Grows Faster Than Bangalore

Recent trends in Chennai real estate show that it will stand with Bangalore real estate. How far it will take place? Following comparative analysis will tell you how far.

chennai real estate seems to be in safer hands

Chennai Real Estate Seems to Be in Safer Hands. ( image source )

Chennai and Bangalore are two prominent South Indian cities which generate new business. Both the cities have witnessed a higher level of growth in the recent past yet Chennai real estate stands little higher.

Real estate sector in both these cities are growing very fast. Of course Bangalore might stand steps ahead regarding the maturity aspect. Market growth of Bangalore which preceded that of Chennai can be counted as the reason behind this. Continue reading