Among real estate companies that donated more than Rs 1000 crore through electoral bonds, DLF and Chennai Green Woods Private Ltd. were at the top

Last week, the EC made available SBI’s electoral bonds data. Of the real estate companies that donated more than Rs 1000 crore, DLF and Chennai Green Woods Private Ltd. were at the top. 

Data released by the Election Commission, which also released SBI’s list of entities that purchased electoral bonds for political donations, shows that between 2019 and 2024, over 40 real estate firms gave more than Rs 1000 crore to political parties through these bonds. 

On March 14, the Election Commission made accessible SBI’s electoral bond data in two files: one file contained the names of the bond buyers, and the other contained the names of the political parties that cashed the bonds. 

Several well-known real estate firms, including DLF’s subsidiaries DLF Commercial Developers Ltd, DLF Luxury Homes Ltd, and DLF Garden City Indore Pvt Ltd, contributed Rs 180 core to the electoral bonds. These are in the corresponding years’ books of accounts. There are no more remarks from us,” the company representative stated. 

Chennai Green Woods Private Ltd., a construction company that contributed Rs 70 core, is owned by the Ramky Group. According to the EC’s data, B.G. Shirke Construction Technology Pvt. Ltd., which has “millions of sq. ft of construction encompassing mass housing projects,” contributed more than Rs 80 crore. 

K Raheja Corp made a roughly Rs 20 crore contribution. The business remained silent. 

Real estate companies must obtain over 20 regulatory approvals from local and state bodies before starting construction, which include environmental clearances, zoning regulations, construction permits, and building permits. 

Property transactions were the most common use of cash in 2022, according to a LocalCircles study, based on the value of each transaction. Even though things had gotten better over time, buyers acknowledged that they paid cash for properties they had bought in the preceding seven years, according to the report. 

Benami transactions were once prevalent. In these kinds of transactions, one party transfers or holds property, but a third party pays the consideration to conceal the actual owner’s identity. On November 1, 2016, the Benani Transaction (Prohibition) Amendment Act became operative. The Supreme Court had disapproved of its use retroactively in 2022. 

The Real Estate (Regulations and Development) Act, 2016 (RERA) aims to protect homebuyers’ interests and promote investment in the real estate sector. Real estate projects and agents must register to ensure adherence to project timelines, quality, and fair practices. With the introduction of RERA, homebuyers now have more confidence. 

Other property firms purchasing election bonds 

The Prestige Group has made contributions totaling nearly Rs 45 crore through its businesses, which include Prestige Garden Estates Private Ltd, Prestige Projects  Pvt Ltd, Prestige Habitat Ventures, Prestige Notting Hill Investments, Prestige South City Holdings, Prestige Estates Projects Ltd, and Prestige Management and Services. The company did not respond at all.

The Rustomjee Group made a nearly Rs 5 crore contribution. The business remained silent. The list shows that BKC Properties Pvt. Ltd. and Omkar Realtors Projects Pvt. Ltd. each contributed Rs five crore. 

Lulu contributed Rs 2 crore, while Inorbit Malls  India Pvt. Ltd. contributed approximately Rs 20 crore among retail companies. 

The list included other developers such as Fortune Estate Developers Pvt Ltd, Sohini Developers, SRI Developers, Ashoka Developers, Magarpatta Township Development & Construction Company, Suman Estates Pvt Ltd, Chennai Greenwoods Pvt Ltd, Fortune Estate Developers Pvt Ltd, and Sweta Estates Pvt Ltd. 

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.