Happy

Construction will commence within the next few months on the AED 800 million ‘Jasmine Court’ residential development, offering investors mixed-size apartments distributed over 4.4 acres of landscaped property near the Chennai International Airport, with facilities including a children’s play area, a swimming pool, a gymnasium and basketball court.

“We are very excited about Jasmine Court as we have already achieved major success with our two residential developments ‘Binny Crescent’ and ‘The Gardens’ in nearby Bangalore. Chennai is a great place for property investment at the moment as it is the third largest commercial and industrial centre in India and it attracts a large number of professional residents and also many tourists who come to visit the numerous sporting venues in the city,” said Abid A. Junaid, Executive Director, ETA Star.

“We are aiming to redefine the Indian real estate industry by offering investors projects like Jasmine Court, which promote the concept of affordable luxury by building better living environments at a lower cost,” Junaid added.

Incorporating the Jasmine Court development, ETA Star has also recently announced its plans to invest more than AED 11 billion on five additional projects in Tamil Nadu, including an exclusive integrated Township in Sriperumbudur. Construction on the Township will commence in 2008, with up to AED 10 billion allocated to the 1,200 acre project.

Non-residential developments are also under construction by the leading property developer, such as shopping malls and an information-technology park. By capitalizing on significant reserves of land purchased during the last ten years, the company has also earmarked up to AED 1.7 billion for the development of real estate projects in other parts of India.

“The Jasmine Court development is perfectly positioned to become a major success as it is strategically located, designed for quality living, aesthetically beautiful and built with quality products. By partnering with renowned architects and building specialists, we are building quality projects based on confidence, trust and credibility,” Junaid concluded.

ETA Star is one of the Middle East’s leading property developers and is involved in many high profile projects such as the Palm Jumeirah, Dubai Marina, International Media Production Zone, Jumeirah Lake Towers District, Dubai International Financial Centre and Business Bay. With the backing of the multi-billion dollar ETA Ascon & Star Group, ETA Star has the advantage to source all areas of expertise in-house from conceptualizing, designing to construction and property management.

Raj Aryan

ETA Star, the first freehold property developer in the region to receive an ISO 9001:2000 certification, has recently launched its first residential project in Chennai, India, representing the start of the company's Dh11 billion investment foray into the Tamil Nadu region.

Construction will commence within the next few months on the Dh800 million Jasmine Court residential development, offering investors mixed-size apartments distributed over 4.4 acres of landscaped property near the Chennai International Airport, with facilities including a children's play area, swimming pool, gymnasium and basketball court.

"Chennai is a great place for property investment at the moment as it is the third largest commercial and industrial centre in India and it attracts a large number of professional residents and also many tourists who come to visit the numerous sporting venues in the city," said Abid A. Junaid, ETA Star Executive Director.

"We are aiming to redefine the Indian real estate industry by offering investors projects like Jasmine Court, which promote the concept of affordable luxury by building better living environments at a lower cost," Junaid added.

Expansion: Work on Dh10b township to start in 2008

* Construction on the township will commence in 2008, with up to Dh10 billion allocated to the 1,200 acre project.

* By capitalising on significant reserves of land purchased during the last ten years, the company has also earmarked up to Dh1.7 billion for the development of real estate projects in other parts of India.

Rajicon

I am interested in retiring in Chennai. I would like to live in a luxurious apartment with similar people. Preferably with nursing assistance, and food etc. we are in good health and travel a lot.
Raj Prasad

savishar

Raj Prasad, you might want to look at the Hiranandani Apartments (Palace Gardens) on Old Mahabalipuram Road (prices 4100-4300 Rs/sq ft + 35Rs/floor). Huge project with a hospital, mall, school etc inside the development. Overall, this project seems very attractive.

I am considering this myself, but am hesitating for 2 reasons:
- afraid to buy at the peak (can prices still move further up ?)
- distance from the city (~35 km), but maybe the area will be more developed in a few years and this will not matter much.

The apartments are large (1500-2000 sq ft). From an investment perspective, does anyone know how much could we get per month by renting such apartments ?

Also, they mention that there will be shuttles that will carry you to the railway station. Does anyone know how much time it would take to get to Chennai center (for example Spencer Plaza) from that place by car and by public transportation ?

John

kannan infratech

Hiranandhani Upscale is on OMR and Palace Gardens is near Oragadam (former Triveni Academy).

savishar

Kannan, thanks for the clarification.

I am actually interested to buy in Hiranandani Upscale (Old Mahabalipuram Road).

If anyone in this forum has already bought or is considering buying in Hiranandani Upscale in Chennai, could you please share the pros and cons ?

ks2071746

Dear friend,

Rental value may not be much. My expectation may be around Rs. 5000 to 6000 range and may not be more. You will have to consider the high maintenance charge of atleast Rs. 3000 to 4000 per month, the tenant may have to bear.

It may take well about 1.5 to 2 hours to reach Spencer Plaza.

One can go in the morning and return in the evening after some shopping/outing etc.

ks2071746

abk

wake up ks this is a 2007 post

ks2071746

Dear friend,

Thanks for pointing out. But the views I expressed for the old post is still valid.

ks2071746

ks2071746

Dear friend,

What is that you want to communicate here ? Please comment in English.


ks2071746