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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Chennai > Tango Flats By Akshaya, Thoraipakkam, Chennai
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Old October 24 2013, 03:49 PM   #1
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Default Tango Flats By Akshaya, Thoraipakkam, Chennai

Akshaya have unofficially launched the project " Tango" at Thoraipakkam and details are available in their web site.

Location is very good, right on OMR opposite to Bahwan cybertec building, next to the proposed mall at the Thoraipakkam-Pallavaram junction.

But the price is Rs 8500 per sqft !! (First time I am hearing the price even above 7000 at Thoraipakkam)

Now they have opened only B and E blocks which are 3 bed room. Minimum size is about 1200 sqft, comes around Rs 1.27C

2/4 bed flats will be opened later

 
Old October 24 2013, 04:06 PM   #2
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Quote:
Originally Posted by lovebirds43k View Post
.

But the price is Rs 8500 per sqft !!
If Akshya says the land price and construction cost as reasons and if they are true:Beware: Collapse is not too far


Collapse doesnt mean the price will go down, but not many willl buy.Projects will be ever built.
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Old October 24 2013, 04:43 PM   #3
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Quote:
Originally Posted by lovebirds43k View Post
Akshaya have unofficially launched the project " Tango" at Thoraipakkam and details are available in their web site.

Location is very good, right on OMR opposite to Bahwan cybertec building, next to the proposed mall at the Thoraipakkam-Pallavaram junction.

But the price is Rs 8500 per sqft !! (First time I am hearing the price even above 7000 at Thoraipakkam)

Now they have opened only B and E blocks which are 3 bed room. Minimum size is about 1200 sqft, comes around Rs 1.27C

2/4 bed flats will be opened later
Proposed mall?. Are you talking about Cineopolis?. If so not sure if it can technically be called mall.

8500 per sq ft!!. This is going to create good demand for nearby Radiance Mandrain. This makes Tango 614 sq ft EWS unit close to 50+ lakhs. Is this really for Economically Weaker Section?. IMO, This is the budget for most upper middle class today with mortgage in place.
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Old October 24 2013, 05:04 PM   #4
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The rate is too high. The current prevailing rate is 6,000 to 6,500. For Akshaya can give 7000. But 8,500 is toooo high.

I saw their master plan. The club house is at the top of the commercial building. For swimming you need to come down of your block and visit the commercial building and go to 9th floor for swimming. In my view this is not a good design.

I think Akshaya should have split the commercial building into a separate project and the residential buildings as a separate project. The residential building just need an entry and exit from the main OMR road.
 
Old October 24 2013, 05:08 PM   #5
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I actually found even Mandarin's pricing of 6700 (i think they brought it down to 6500 due to poor response) difficult to take given their very high loading (premium fsi) and the close by dump yard. This one from Akshaya is not very far away, not more than 100 mts across.. strange pricing.. have to see their loading, floor plans etc to see if there is any rationale at all for this very high price point.
 
Old October 24 2013, 05:17 PM   #6
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Originally Posted by karmaker View Post
The rate is too high. The current prevailing rate is 6,000 to 6,500. For Akshaya can give 7000. But 8,500 is toooo high.

I saw their master plan. The club house is at the top of the commercial building. For swimming you need to come down of your block and visit the commercial building and go to 9th floor for swimming. In my view this is not a good design.

I think Akshaya should have split the commercial building into a separate project and the residential buildings as a separate project. The residential building just need an entry and exit from the main OMR road.
If I am guessing right, They want to make club house open for outsiders as well. I maybe wrong but looks like that way. This way they can have a second compound to make the residential look gated.

Nice location bang on main road and densly populated locality. The club house and commercial can be a instant hit.
 
Old October 24 2013, 05:28 PM   #7
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PROJECT OVER VIEW:
· Overall site extent is 3.681 Acres
· Allowable F.S.I is 2.5
· Saleable F.S.I is 2.77
· Plot coverage - 21.58 % of site area.
· Site is having commercial and Residential buildings
· As per master plan Commercial building with club house is located in the eastern side of the main road and rest of the residential blocks located behind up to the site extent to relieve the residential tower from traffic nuisance.
· Commercial entry will be from eastern side main road and residential from southern side.
· Two Basements Extend below 5 towers (Block-A to E) and extents below the central area up to zoning line.
· There are 250 Nos units
· Total salable area – 4,45,243.86 sq.ft
· Club house area - 16,906.18 sq.ft
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Old October 24 2013, 06:12 PM   #8
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why their projects always costly? Even suburb projects are very costly. Their amenities are costly (club membership etc). Can we negotiate the price?
 
Old October 24 2013, 10:08 PM   #9
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Akshaya is known to jack up prices wherever they go example Republic Kovur...Its high time that Govt pitch in to see the prices these builders are offering..8500 rs is atrocious to say the least.BUT still these flats wil get booked as some people go only by brand and will spend smiling irrespective of what builders qoute..Now Radiance Mandarin looks real VFM
 
Old October 25 2013, 12:03 AM   #10
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Rubbish pricing. Hope buyers don't flock to it. Also think, there wont be any investors as this project cost has eaten away next 5 years of appreciation!!
 
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