No-go for realty near Chennai bird reserves

CHENNAI: Builders will have to steer clear of all areas within a radius of 5km around wildlife sanctuaries in Chennai and surrounding localities. To start with, the forest department has declared areas around three sanctuaries — Vedanthangal, Karikili and Pulicat — no-go zones for real estate developers and banned any kind of real estate ventures there.

A team of forest officials led by forest range officer R Dhanasekaran explained the restrictions on new constructions and repair of existing structures within 5km of the three sanctuaries to residents, elected representatives including panchayat presidents and village administrative officials of 20 villages, at a meeting organized by the state forest department in Vedanthangal bird sanctuary on Sunday.

The restrictions are meant to ensure that there will be no change in land pattern around the sanctuaries because, forest officials said, such changes could stop birds from migrating to the sanctuaries and play havoc with their migratory patterns.

Some of the migratory birds that flock to these three sanctuaries are the Little Cormorant, Night Heron, Grey Heron, Spoonbill, Little Egret, Large Egret, White Ibis, Cattle Egret, Pintail, Common Teal, Pond Heron or paddybird, Shoveller Duck, Dabchick, Indian Moorhen, Darter or snakebird, Grey Pelican and Open-Bill Stork.

Thandarai, Karunkulazhi, Mangalam, Nellavai Kutt Road, Rettamangalam, Vaiyyur, Perumbakkam and Vellaputhur are among the villages where the restrictions will come into place.

"We organised the meeting on the instructions of wildlife warden V Karunapriya. Such meetings will be held continuously and we will monitor activity in these areas to prevent violation of the restrictions," said R Dhanasekaran, forest range officer of the Vedanthangal, Karikili and Pulicat bird sanctuaries.

Forest officials said there is a general lack of awareness in these areas, even among village heads and village administrative officers, on laws and rules to protect the environment, animals and birds. The state's department of town and country planning (DTCP) had in August 2011 issued a notice to a developer for not obtaining prior permission to construct a farmland resort less than half a kilometre from Vedanthangal bird sanctuary. The DTCP also sent a notice to Vedanthangal village panchayat president Vasanthi Lakshmi for approving the plot.

The area around a bird sanctuary is usually wetland. "Areas near the sanctuaries are also feeding and breeding grounds for various birds," said S Saravanan, chief education officer, World Wildlife India (Tamil Nadu chapter). "Migratory birds regularly visit sanctuaries only after checking for regular availability of water and identifying if they are suitable for breeding. Such areas should be protected."

Apart from real estate ventures, restrictions also placed on construction of factories, industrial units and mining in the three sanctuaries. The restrictions are based on a Supreme Court order and instructions from the National Board for Wildlife (NBW) prohibiting any non-forest activities in areas around all sanctuaries.

Residents of these areas have, however, been given permission to repair their houses and also to construct new houses if they meet stipulated standards for height and width.

Source: http://timesofindia.indiatimes.com/city/chennai/No-go-for-realty-near-Chennai-bird-reserves/articleshow/15368625.cms

Property deals peak ahead of guideline value revision

CHENNAI: With the new market-based guideline values for property registration set to come into effect from January, builders and buyers in the state are rushing to seal deals before the charges go up. The number of property deals has seen a sharp rise ever since the plan to revise guideline values was announced. In November alone, the state government earned Rs 715 crore from stamp duty and registration charges.

"There is panic in the minds of buyers and builders, as stamp duty and registration charges will go up once the new guideline values come into effect. A huge number of transactions take place daily these days, especially in Chennai and Coimbatore," a senior government official said.

In all, the government realized Rs 3,965 crore till November in the current fiscal from property registrations, 23.17% higher than the corresponding period last year. The November earning is the highest for a month in the last 20 years. In 2010-11, the government's revenue from stamp duty and registration charges was Rs 5,020 crore, and this fiscal it's expected to go up to Rs 6,500 crore.

Guideline value is the minimum value of a land fixed by the government, based on which stamp duty and registration charges are calculated. The charges add up to 9% of the property value. The draft of new guideline values is expected to be published on December 15, and the final values will be announced in January. The values were last revised in 2007.

While Chennai, expectedly, recorded the maximum number of property transactions -- 3.45 lakh deals in the last eight months -- Coimbatore was close behind with 3.18 lakh deals. The reason can attributed to the fact that Coimbatore has become a preferred destination for tier-two investments in the state with many business houses setting up facilities in the city, thereby giving a push to the real estate market.

Members of the Confederation of Real Estate Developers Association of India (CREDAI), a body of organized real estate developers, have taken exception to the new guideline values proposed by the government saying they do not reflect the market reality.

If the guidelines values of properties on Oppanakara Veethi, Cross Cut Road, DB Road and Trichy Road in Coimbatore have seen a three-fold rise in the revision, properties on Dr Radhakrishnan Salai, Boat Club Road, Poes Garden, Gopalapuram IInd Street and Montieth Road in Egmore in Chennai have been valued eight to ten times higher, they say.

CREDAI president T Chitti Babu said they were not against revision, but "a multifold increase was not acceptable." "There is a need for a study to understand the market prices. Otherwise, it will lead to malpractices and actual transactions will not come into revenue records. The officials have also found justification in our demands," he said. A crucial meeting convened by chief secretary Debendranath Sarangi on tax revenue on December 19 will throw some light on the final guideline values.

Tamil Nadu is among a very few states that do not revise guideline values periodically. Hence, major discrepancies exist between guideline values and market prices of properties.

Source: http://timesofindia.indiatimes.com/city/chennai/Property-deals-peak-ahead-of-guideline-value-revision/articleshow/11054212.cms

Indiaproperty.com to increase focus on new property market; launches special segment for Tier II cities

Chennai, Tamil Nadu, November 2, 2011 /India PRwire/ -- IndiaProperty.com, the real estate portal of Consim Info, India's leading internet business group, today announced that it will consolidate its position as the leader in the online market for new properties in India, by increasing its current focus on this segment and in addition launching a special, separate segment listing properties in Tier II cities. Indiaproperty.com in a first of its kind initiative in the online property space in India launched new pages on its portals listing over 50 new projects and 800 new properties across Tier II cities such as Nasik, Gurgaon, Jaipur, Mysore, Coimbatore, Vijayawada, Trichy, Madurai Vishakapatnam, etc. The site has over 3000 new properties and 450 new projects listed pan-India and has witnessed a 100% increase in traffic since April this financial year. Indiaproperty.com has crossed the 2 million mark in registered users with 150,000 unique daily visitors and more than 2 million page views a day, firmly establishing it as the number one property portal in India. Indiaproperty.com aims to penetrate further across cities and increase its customer base to reach 5 million registered users by March 2012.

In line with these plans, Indiaproperty.com plans to embark on a slew of marketing initiatives and announced its first property show, the largest one in Chennai- 'Grahapravesam 2011' that will feature more than 100 new properties across Chennai. Indiaproperty.com is organizing the show in collaboration with Jones Lang LaSalle, industry leader in property consultancy and facilitation services. Leading builders such as TVH, Unitech, DLF, Hirco, Arun Excello, Embassy, etc. will showcase ongoing and upcoming residential projects across a wide range of categories from Studio apartments, 1-2-3 BHK flats to luxurious 4-5 BHK flats and Villas in Chennai. The three day Property show will also include panel discussions where senior professionals and industry experts will discuss on a range of topics which will address most questions that a property buyer has today. Grahapravesham 2011 will be held between November 4-6 at the Chennai Trade Center and is being webcast live to an international investor audience as well.

Addressing the media at a press briefing today, Ganesh Vasudevan, Vice President and Business Head, Indiaproperty.com said, "We have increased our focus on new properties and further expanded our reach into Tier II cities seeing the healthy growth in new projects launched in these markets. Within a few days of soft launch of our separate pages for Tier II cities, Indiaproperty.com has 800 new properties and 50 new projects listed on the site. We are the only real estate portal in India to specifically address the new property market in Tier II cities."

He further added, "Grahapravesam will provide a one stop solution for property buyers as it connects buyers and developers at an opportune time when pricing is right and interest rates are looking likely to have maxed out. The show seeks to provide a platform where property buyers can interact with leading builders and industry experts in finding credible answers to their property questions. We were buoyant with the response we received on our portal over the last quarter for new properties across metros and smaller cities and

decided to organize Grahapravesham 2011 as an extension of our online support to both buyers and developers. We are happy to partner with a leader in the property consultancy space, Jones Lang LaSalle in presenting this exhibition."

Mr. Sivaramakrishnan A.S. Associate Director-Residential Services, Jones Lang LaSalle said, "We at JLL are excited to co-host this event along with India Property. We pride ourselves in being an organized player in an unorganized market. With the creation of JLL Residential, we hope to extend our professional approach and advisory strength to the unorganized residential space so as to help the customers make informed decisions, whether it involves investing, divesting or leasing residential properties.

With Grahapravesam, we hope to make a real difference in a customers' decision making process. This unique event, in partnership with India Property, will provide an excellent platform for home buyers to gain unbiased advice on property related issues. We are as excited as our co-host, India Property, and look forward to this exhibition."

Source: http://www.indiaprwire.com/

Housing Boards, govts should create more awareness on ratings

Chennai: Ratings agency CRISIL has urged housing boards and state governments to generate more awareness on the significance of ratings in developing a real estate project, to help create a level playing field.

Though there are increasing number of real estate projects in India, lack of awareness among public and developers has led to only some takers to rate their projects, a top CRISIL official said.

"Currently there are more than 50,000 small and big real estate developers in India but only 60 of them have come forward to rate their projects," CRISIL Head, Corporate and Infrastructure Ratings Akash Deep Jyoti told media.

He said rating a real-estate project would help create a "level playing field" among developers by bringing in more "transparency" and more organised operations.

“To create awareness on value of ratings we need the support of everyone, including Housing Boards and Housing department in State Governments," he said.

Akash said many developers attract buyers by putting out huge advertisements of their future projects. However once completed, the project differs in many apsects from the promises held out to buyers, he alleged.

"The only reason developers place big advertisements in papers is to attract buyers. People invest huge amounts on buying flats or homes in such projects but may not be happy when it gets completed," he said.

Currently 107 projects developed by 60 builders have CRISIL (Credit Rating and Information Services of India Ltd) rating", he said, adding a buyer can get to know whether the developer has CRISIL rating by going through CRISIL's website.

Asked about the earlier practice of the public to invest in real estate, Akash said "People were buying properties only from referrals, a practice in vogue for centuries."

Source: http://zeenews.india.com/business/realestate/latest-news/housing-boards-govts-should-create-more-awareness-on-ratings_402.html

Top 10 builders and Property Developers in Chennai

Top 10 Builders in Chennai

Are you looking for Top 10 builders in Chennai? Today, top Builders are no longer restricted to any particular geographic location, instead, are spreading their wings across the country. Here is the list of top construction companies on the basis of their tie-ups with their international counterparts, technological advancements and playing vital role in converting or establishing an entire township in the wastelands and making it the hottest commercial destination.

These house contractors not only undertake construction of residential and commercial projects but have developed many recreational projects as well and attract many foreign investments as well.The current scenario of Chennai properties has given an ample opportunity for the growth of builders at every corner of the city. Apart from the big residential and commercial buildings erected by builders, we can see the numerous specimens of ingenuity shown by building contractors across the city.

Top Builders in Chennai

DLF Group:DLF has been the construction company behind different malls in Hyderabad, Delhi, Bangalore, Mumbai, Amritsar, Ludhiana, Kochi and Chennai. DLF's chief business is to develop housing, marketable and retail properties.

Sobha Developers Ltd:Sobha Developers Ltd was initiated by the now chairman PNC Menon in the year 1995. On June 30, 2007, the company has 3,706 skilled professionals working for it. At present it owns Rs 3,500-acre land in eight Indian cities namely Coimbatore, Bangalore, Mysore, Chennai, Thrissur, Kochi, Pune and Hosur.

Jain Housing & Constructions Ltd: Jain Housing is one of the leading builders in South India. Jain Housing has earned an unsurpassed reputation for excellence and has been dedicated to providing the right blend of quality, service, and affordability in the escalating housing market. Jains excels by providing you with the best of both worlds. Leveraging their comprehensive knowledge of residential construction, the real estate industry and local building trends Jain Housing create the best value for you as a customer.

Marg Group: Maarg build homes that are upscale yet reasonably priced and strive to meet every dream that you harbour about your dream home.MARG Limited is a leading Infrastructure and RealEstate development company in India. Established in 1994, MARG Limited is listed on the Bombay Stock Exchange, Madras Stock Exchange and the Luxembourg Stock Exchange (FCCB). Headquartered in Chennai, MARG Limited is promoted by a renowned first-generation entrepreneur Mr.G.R.K. Reddy. The company pioneered the infrastructure development on the Chennai IT Corridor.

Unitech: Recently Ramesh Chandra, Unitech's Chairman has declared the investment of $ 720 million by his company in the coming four years to develop 28 hotels along with Marriott International. Its chief activities include construction, expansion of real-estate, consultancy in associated sectors, hotels, electrical broadcast and information technology.

Other Builders in Chennai

Akshitha Homes PVT LTD

Dakshin constructions

Oceana Constructions

Diamond Builders & Flat Promoters

Kirloskar Constructions & Engineers LTD Egmore

Source: http://www.commonfloor.com/realestate/top-10-builders-in-chennai