Connect with us

PROPERTY

Properties In Kolathur Becomes Popular Investment Hotspot In Chennai

Published

on

Spread the love
Read Time: 2 minutes
Situated in North Chennai, Kolathur is amongst the popular residential localities of the city. The area is home to well-developed infrastructure, facilities and is surrounded by some of the most thriving neighbourhoods such as Perambur, Puzhal, Villivakkam, Vajjiravel Nagar, Periyar Nagar, and ICF.

In terms of connectivity, Kolathur is well-connected to other surrounding areas via inner Ring Road. Also, railway stations like Villivakkam and Perambur Loco Works fall in close proximity to the locality.

The area is also known for the presence of some major landmarks like Agatheeswarar Temple, Somanatheswarar Temple, Shirdipuram Sarva Shakthi Peedam, Poompuhar Nagar Park etc. Due to this, the place is also a favourable tourist destination among those who come to visit Chennai.

Apart from this, Kolathur also houses leading schools, malls, hospitals, banks, and recreation centres. Some of them include Bharath N & P School, DRJ Hospital, RC Prince Gardenia, Ishen Martial Arts India, Donbosco School, and Ganga Cinemas. The Govt. has also proposed the development of a metro line here so that the connectivity can be enhanced more.

Coming to the real estate segment, Kolathur enjoys a prosperous residential and commercial property market. It is one of the major IT hubs in Chennai with the presence of some major companies like TCS, HCL, Ambit IT Park and India Land IT Park. Presence of such companies has attracted many working professionals to invest in housing projects here. Perhaps, this is one of the main reasons; the area has seen some recent housing project development.

One can easily look for 1, 2 and 3 BHK apartments here along with plots. Being a well-developed locality property price here is more as compared to other localities. At present, the average property price in Kolathur is 5,349 per sqft. Experts suggest that the price here will increase in coming 2-3 years; hence investing here will be a fruitful decision.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Nisha Shiwani hails from the pink city of Jaipur and is a prolific writer. She loves to write on Real Estate/Property, Automobiles, Education, Finance and about the latest developments in the Technology space.



Leave a Reply

Your email address will not be published. Required fields are marked *

Commercial

Sarovar Hotels Plans To Expand Its Reach Across India By The End Of 2019

Published

on


Spread the love
Read Time: 2 minutes

In order to expand its reach across the country, leading hospitality firm Sarovar Hotels has planned to add around 16 properties by the end of this year. With this expansion, the group will be adding 970 more rooms to its portfolio.

At present, the group is managing around 73 hotels in the country and three in the international arena with a total of 6000 rooms.

Speaking on the above expansion, Ajay Bakaya, Managing Director, Sarovar Hotels said, “We took this decision to strengthen our reach across India and that’s why we are opening around 16 new properties by the end of 2019,”

He further added that the upcoming properties will be developed under the brand name- Sarovar Premiere, Sarovar Portico, and Hometel Suites Brand. These properties will be located across various cities like Dehradun, Bengaluru, Dindi, Ahmedabad, Goa, Junagadh, Udaipur, Dahisar, Bodh Gaya, Jammu, Dibrugarh, and Morbi among others.

While most of the hotels will be under the Portico series, the one at Bodhgaya and another at Dahisar will be under Premiere series and Hometel Suites brand respectively.

“The hospitality sector has witnessed a huge jump and a sturdier growth in the last few years. The reason behind this is the increased use of advanced technology as well as huge domestic travel. India remains severely undersupplied in hotel rooms. We will see hospitality grow both by conventional and disrupter means” Bakaya added.

Sarovar Hotels and Resorts is one of the leading hotel management companies in India. The group has its leg in each and every segment of hotels ranging from tech-enabled spaces to modern designs, from affordable to boutique suites across the country. The group also deals in setting up of new hotels and resorts which are managed under long term management contracts.

Apart from India, the group has its properties in Zambia and Nairobi in Africa.

Continue Reading

Commercial

Central Government Plans To Construct Light House Projects Across Six Cities

Published

on


Spread the love
Read Time: 2 minutes

To promote the use of Green construction technology, the central government has planned to construct over 6000 lighthouse projects under the Global housing Technology Challenge (GHTC), India. The Government has recently floated Requests for Proposals (RFP) for the same. The GHTC was launched by the government in February this year.

Under the challenge, the government has given a challenge to six different cities to construct over 6000 Lighthouse projects using six different technologies appropriate to the geo-climatic condition. The six selected cities are Chennai, Ranchi, Indore, Rajkot, Lucknow, and Agartala.

These houses will be developed under Pradhan Mantri Awas Yojana-Urban (PMAY-U).

As per the government officials, these projects will be completed within 12 months from the date of beginning at an estimated cost 20,000 dollars. These projects will encourage builders and developers to adopt innovative technologies useful in the construction of housing units. At the same time, some more research in these technologies will help in the development of the construction sector of India.

Elaborating more on the LHP and GHTC, India challenge, Amrit Abhijat, JS&MD (HFA) said, “These lighthouse projects would encourage the potential beneficiaries to visit the selected sites to see the ongoing work for adaptation. It would also serve as open laboratories for a live demonstration and would further garner the attention of academia, practitioners and media connoisseurs.”

To create awareness among developer and builders as well as participating states, the government has also planned a series of events on various web portals. You may log on to www.eprocure.gov.in to download the RFP, and for further details relating to RFP, you can access GHTC-India website at https://ghtc-india.gov.in/.

Continue Reading

Featured

Godrej Resort Residences: Premium Living Amidst Sprawling Greens In Noida

Published

on


Spread the love
Read Time: 2 minutes

Leading developers Godrej Properties presents Resort Residences; an ultra-modern residential project located in the greenest sector of Noida; Sector-150. Surrounded by large acres of central greens, massive open spaces, and healthy green environs, the low-density housing project is designed by renowned architect Hafeez Contractor.

The gated community will be offering 2, 3 and 4 BHK spacious apartments in various size and configuration. All the residences are equipped modern amenities and come with glass railings balconies, floor to height windows that provide excellent flow of natural daylight, and proper ventilation.

Godrej Resort Residences will be home to state-of-the-art facilities like sculptured kids’ play area, an interactive fountain for kids, amphitheater, jogging track, koi-lily pond, branded retail, exquisite plantations, colour and maze garden, butterfly garden, botanical pathway, and reflexology garden, indoor games arena, cards room, banquet hall, mini-theatre, tennis court, badminton court, luxury spa, poolside cabanas and much more.

The project is well-connected to major NCR areas via Noida-Greater Noida, Yamuna Expressway and the proposed Faridabad-Noida-Gurgaon Expressway.

Premium Features of the Project

  • 2, 3 and 4 BHK residences with resort-themed lifestyle.
  • Themed gardens lounged with herbs, ferns, textures and tree plantations
  • Yoga and meditation centers.
  • Zen and maze gardens
  • Butterfly garden, botanical pathway, and reflexology garden
  • Dedicated kids play area, swimming pool, sports area
  • Party lawn
  • 20,000 Square Meter Of Central Greens
  • Terrace Garden Amenities: Exercise Station, Meditation Zone, Hopscotch, Fountains, Pergolas
  • Amphitheatre, Sculptured Kids’ Play Area, Interactive Fountain
  • Jogging Track, Branded Retail, Koi-Lily Pond, State-Of-The-Art Gym With A Spectacular View
Continue Reading

Commercial

M Pallonji Owns Turner Morrison Building In Kala Ghoda For Worth Rs. 150 Crores

Published

on


Spread the love
Read Time: 2 minutes

In a recent development, M Pallonji Group bought Turner Morrison Building in Fort’s Kala Ghoda area, sources said.

The M Pallonji group is known for operations in construction, shipping and finance and various other sectors. The group bought Turner Morrison building owned a Kolkata-based company for nearly Rs. 150 crores. This building has G+4 floor structure and covers an area of 54,000 sq.ft.

The sources close to the development also informed that all formalities of this freehold property have been completed.

This building has offices of two reputed companies that are Cox & Kings who are the tour operator and a legal company named Crawford Bayley. Turner Morrison also holds some space in the building. The M Pallonji has reportedly paid Rs. 28,000 per sq ft.

A few years back, in 2016, the biggest such transaction took place when a Spanish fashion chain Zara leased 50,000 sq ft carpet area in South Mumbai’s prime location known as Flora Fountain, i.e. near to Fort House.

M Pallonji & Co. Pvt. Ltd. is a reputed firm in the Indian business arena that operates in multiple fields such as power generating stations (hydroelectric and thermal), chemical and fertilizer factories, petroleum refineries, offshore oil and gas platforms and more.

Continue Reading

Commercial

Tata Realty And Infrastructure To Step Up Its Commercial Real Estate Portfolio

Published

on


Spread the love
Read Time: 2 minutes

In a recent development, leading realty firm Tata Realty and Infrastructure (TRIL) have decided to step up its focus on the development of more commercial projects to maintain its real estate portfolio. The move has been strategised to create a balance between residential and commercial projects so as to enhance their legs in this real estate category too.

According to company senior officials, the group will start with ramping up their land acquisitions by adding around nearly 10-15 million sq. ft within a short span of time. At present, the group has approximately 5 million sq ft of commercial space, which is completed and leased, while another 2 million sqft is under various phases of construction. The company is also planning to launch more 1 million sqft of commercial development by the end of this year.

Commenting on the above, Sanjay Dutt, managing director and chief executive officer (CEO), TRIL said, “Our main aim is to dominate the commercial real estate market. Currently, the commercial to residential ratio is around 20:80. But with this move, we will now create a balance between the two categories. We want ourselves to be named as an all-rounder in the Indian real estate market.”

He further informed that under this, the company will develop corporate offices, information technology parks as well as shopping centers.

The decision is going to help TRIL in strengthening its commercial office portfolio that generates steady annual income as compared to the residential sector.

Apart from this, the company is also planning to put focus more on real estate developments in markets like National Capital Region (NCR), Mumbai, and Bengaluru along with Pune, Chennai, Kolkata, and Hyderabad.

Continue Reading

Featured

Runwal Group Launches New Residential Project In Mulund West, Mumbai

Published

on


Spread the love
Read Time: 2 minutes

Leading real estate developer Runwal Group has recently announced their new residential project in Mumbai. The project ‘Runwal Pinnacle’ is located in Mulund (West) and is designed by Architect Hafeez Contractor. The project will be one of the tallest residential towers in Mulund offering its residents a bird’s eye view of the surroundings such as Airoli Mangroves, Bay, and Sanjay Gandhi National Park.

The 67-storey tower will be offering 1, 2 and 2.5 BHK spacious and premium residences in various sizes and configuration. All the residences are equipped with modern facilities and Smart Home Automation system that will uplift the living style of its residents. The other state-of-the-art amenities include Landscaped Driveway, Double Height Entrance Lobbies, Sewage Treatment Plant, Rainwater Harvesting, Multi-level Car Park, Intercom Facility from Lobby to Apartment, CCTV Surveillance, RFID Tagged Security, and IP Video Door Phones.

Runwal Pinnacle has an exclusive Sky Deck which is a rooftop leisure zone 200 meters above the ground. Some of the amenities include Rooftop Jogging Track, Sky Deck Open Gym, Sky Deck Barbecue, Star Gazing Deck with Telescope, and Roof-top Sky Lounge. The Club facilities include Swimming Pool with Poolside Decks, Kids’ Pool, Party Hall, Mini Theatre, 2-Level Gymnasium, Yoga Room, Aerobics Room, Badminton Court, Half-Basketball Court, Creche, and gaming Arena. The project also has a Business center as well as Convenience Retail within the development.

Situated in Mulund, Runwal Pinnacle is surrounded by leading schools, colleges, hospitals, shopping and hospitality centers as well as also has a well-established social and civic infrastructure. The Eastern Expressway is just 2 km, while the international airport is 17 km from the project. The nearest railway station is Nahur Railway station.

Continue Reading

Commercial

State Government Approves Metro Expansion In Gurgaon; To Boost Realty Market

Published

on


Spread the love
Read Time: 2 minutes

In a recent development, Haryana Chief Minister Manohar Lal Khattar has approved the Detailed Project Report of the proposed metro expansion in the Millennium City Gurgaon. The proposed metro corridor will ensure last-mile connectivity in the IT city linking the newly developed areas such as Sohna, New Gurgaon, Udyog Vihar Phase 6, etc.

The Gurugram Metropolitan Development Authority (GMDA) has recently met and discussed the persistent traffic issues in the city. After the meeting, the officials came out with the decision to expand the current metro line so as to provide relief to the commuters.

As per the Authority officials, the proposed metro corridor is expected to be operational by the third quarter of 2023. The route will have a total of 25 stations along with six interchange stations.

Elaborating on the need of this metro expansion, a senior GMDA official said, “The Millennium city is witnessing a huge influx of working professionals and families from past many years. Due to the development of commercial office spaces in Cyber city, New Gurgaon, Dwarka Expressway, Sohna, etc., the traffic on the roads is increasing and becoming a mess for daily commuters.”

He further informed that the expected expenditure of the project will be 5126 crores and it will be developed by the Haryana Mass Rapid Transport Corporation (HMRTC). The proposed metro stations are HUDA City Centre, Sector 45, Cyber Park, Sector 46, Sector 47, Sector 48, Technology Park, Udyog Vihar Phase 6, Sector 10, Sector 37, Basai, Sector 9, Sector 7, Sector 4, Sector 5, Ashok Vihar, Sector 3, Krishna Chowk, Palam Vihar Extension, Palam Vihar, Sector 23 A, Sector 22, Udyog Vihar Phase IV and V, and Cyber City.

Impact on Real Estate Market

With the development of commercial hubs in Gurugram, the newly-developed residential sectors and areas in and around these hubs have gained traction among many developers to develop their premium, mid-segment and affordable housing projects here. Areas like Sector 46, Sector 47, Sector 48, Palam Vihar, and Sector 22 have seen witnessed many new launches in recent years. With metro connectivity, not only the areas will be linked to the other residential and commercial hubs but will also see a surge in the property prices

Continue Reading

Commercial

Ministry Of Road Transport To Build Highway Between Chennai And Surat

Published

on


Spread the love
Read Time: 2 minutes

 

In order to enhance inter-state connectivity, the Union Ministry of Road Transport and Highways has decided to build a highway between Chennai and Surat. The 1,461 km-long highway will not only augment connectivity but will also help in boosting the property market of the two cities and its surrounding areas.

As per the Ministry officials, the highway will be developed under the central government’s ambitious Bharatmala Pariyojana.  The stretch between the two cities will pass through various cities of Nashik, Ahmednagar, Solapur, Kalaburgi, Kurnool, Kadappa and Tirupathi. Moreover, the roads between Surat and Ahmednagar in Gujarat and Akkalkot and Mahabubnagar in Maharashtra will have Greenfield alignments.

The other corridors falling in between the stretch will be broadened from the current 2-lane to Four-Lane.

Elaborating more on the above, K R Kiran, Project Director, NHAI, Hyderabad said, “At present, the commuters who want to reach Chennai mostly travel via Pune-Bangalore Highway. Due to this, the route has already been saturated and can’t handle passenger pressure anymore. This has led NHAI to develop a new highway so that commuters can relieve themselves from traffic congestion.”

The highway between the two cities will also enhance connectivity between Chennai and Mumbai. The travelling distance will reduce by 100 km. Once the highway will be operational, the passengers don’t have to take an alternative route via Bangalore to reach Mumbai.

He further informed that the NHAI has already offered the contract of preparing DPR (Detailed Project Report) on the Greenfield stretch between Surat and Ahmednagar. The work on other stretches in Andhra Pradesh, Tamil Nadu, Maharashtra, Gujarat, and Telangana has also started which is currently in various stages of execution.

Continue Reading

Commercial

DLF Goes Into Joint Venture With GIC To Develop Biggest Mall In Gurugram

Published

on


Spread the love
Read Time: 2 minutes

The DLF group went into a joint venture with Singapore’s sovereign wealth fund GIC to build a retail mall in Gurugram. This mall will be developed in over 2.5 million sqft area and is believed to be the biggest mall of India, the sources said.

This will be a mix-land project and is planned to have both retail and commercial space named as Down Town. The same will be developed on a 23-acre land parcel owned by the DLF group in Gurgaon. This plot is located on the highway opposite to DLF Cyber Park that is spread over 2.5 million sqft.

The sources said that the retail mall is planned to be a part of 8 million sqft project and will also have serviced apartments, five-star hotel and commercial development. The project will be developed in two-three phases and will take more than five years to complete.

DCCDL i.e. the DLF Cyber City Developers Ltd will develop this project and will replace LuLu International Shopping Mall in Kochi that is spread over 2.5-million sqft and DLF’s Mall of India in Noida as the biggest mall in the country.

In 2017, the DLF and GIC signed jointed venture after the promoters K P Singh and his family sold their shares to the Singapore investment firm.

Continue Reading

Featured

Bharatmala Pariyojana: Government To Develop 35000 Km Highways By 2022

Published

on


Spread the love
Read Time: 2 minutes

In order to enhance connectivity all across the country, the Central government has decided to construct 35000 km of highways by 2022. The highways will be constructed by National Highways Authority of India (NHAI) using the eco-friendly technique.

The information was disclosed a few days back by the President of Indian Mr. Ram Nath Kovind. According to him, the major reason behind this development is not just to boost the urban infrastructure, but to generate massive employment opportunities.

Apart from this, the government wants to construct quality roads using the best techniques in the urban, rural as well as coastal areas. Also, the areas which are newly developed or are developing around the airport will also be covered under this project.

In the last few years, many new highways and expressway are developed that has not only enhanced connectivity between cities or states but has also made easy for commuters to travel easily from one place to another. The focus is also to provide seamless connectivity in between the North-Eastern and tribal areas on the country where the roads get destroyed due to rain, floods or landslide.

Launched in 2015, the Bharatmala Pariyojana targetd to provide smooth connectivity to the far-flung border and rural areas including the tribal and backward areas of India. Under this project, the government has to develop highways and expressways starting from Gujarat, Rajasthan, Punjab, and Haryana to Jammu and Kashmir, Himachal Pradesh, Uttarakhand followed by some portions of borders of Uttar Pradesh and Bihar alongside Terai. It will then move to West Bengal, Sikkim, Assam, Arunachal Pradesh, and will finally end at the Indo-Myanmar border in Manipur and Mizoram.

Continue Reading

More From NewsViewsNetwork