contra

North Chennai has somehow lagged South Chennai is real estate development. With IT industry slowing down South Chennai will be badly hit in coming years (already latest news is that there are 3000 vacant flats in velachery surroundings without tenants weeks after advertisements).

North Chennai is far away from IT companies and as such has not seen the same kind of real estate development. This could actually be a blessing in disguise for North Chennai. Applying stock picking ideas to real estate we can see that P/E ratio of North Chennai areas like Avadi, Ambattur, Perumbur, proposed outer ring road ( as suggested by NAbhishek), Tiruvottiyur, Kolkota highway, Royapuram look attractive.

So we can start this discussion thread dedicated to upcoming real estate projects in North Chennai.

Let me start with Unitech North Town coming up at perumbur, they have not yet announced the price any ideas on this project??

abk

if this is the binny mills land then I phase is already sold out in a day at 3000/- it is a association between SSI,Unitech & arihant it was soft launched and was sold out in a day all bought by the north indian crowd.

500 cr sold out in a day-slump???????

contra

I checked all over the net, did not find the price for Unitech North Town perambur? They have 1 BHK to 3 BHK apartments ranging from 622 sq.ft to 1395 sq.ft. Each tower will have 14 floors and there will be dedicated towers for vegetarians. Speard over 70 acres it seems.

If it is at 3000 Rs/Sq.ft or less, than it could be a good buy as the distance from Chennai central railway station should br around 4-5 kms.

If anybody can get exact price please let us know. Can send me a private message.

nabishek

There arent many premium projects in these areas.The supply is as less as any other parts within the city.

Regarding the unitech project, not sure whether north park is the same as a project named "Ananda".They claimed to have sold 500 apartments in 10 days.

Some other projects thats nearing completion are Sunnyvale from chaitanya(Ayanavaram), Lumbini square from TVH(Pursaiwalkam),Esplanade from Emaar MGF(Thiruvottiyur).

Many new projects are being planned in this belt, North chennai is set to gain a new charm with the new bridges, underground pathways all planned.

Apart from other prelaunch projects, I also hear that metrozone project in annanagar from Ozone group has atlast got permit from CMDA and is set to be launched again.

I am looking forward to what would be the pricing this time.This is a project that was launched in 2006 at 4500/sqft and saw a steep rise till 6500/sqft.

contra

This TVH Lumbini Square in Purasiwalkam is located on the road which directly leads to a cemetry. While checking on wikimapia can find not 1 but 3 cemetries about 1/2 km north of Lumbini Square.

contra

I am not sure where exactly in perambur, Unitech North Town is coming up. Not sure whether it is Binny mills land.

However Perambur, Ambattur, Avadi belt do have a lot of land with Public sector industries like railways, defence and sick units like Binny mills. If and when this land is freed up for residential developement a lot of well planned layouts can come up in these places. Railway connectivity to central which is already available and metro rail facility upon completion may offer good investment opportunities in this Perambur, Ambattur, Avadi belt.

Natarajg007

Hmm and we are told that prices in South chennai should be for a song? I really low the bears on this board. They can lie better than any politician of India.