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Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

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Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

Last updated: July 13 2016
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  • #11

    #11

    Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

    No of SEZ in India as of now

    According to SEZ Units Director General L B Singhal - There has been 462 SEZs approved as of early 2008.

    Only god knows how many more are on the way.

    He signed off one recently In Tada between Chennai and Thirupathi.

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    • #12

      #12

      Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

      Originally posted by rickyofsnow View Post
      IT companies now prefer to move to IT-SEZ to avail tax benefits. It is observed that of the total 59 SEZs cleared by the Central Government in Tamil Nadu, 37 relate to IT-SEZ and 12 are already operational. As of March 2009, the STPI incentive policy for IT parks and the associated tax benefits would cease to operate and IT_SEZ would then be the preferred option. Would a shift to IT-SEZs to avail tax benefits for the next 15 years create further vacancy? The developers who have invested in IT parks look at this scenario with gloom.
      rickyofsnow, I too read this article yesterday, and as Suresh Kuppuswamy (author) describes it, the demand/supply ratio is tilting towards SEZs. While this article points out important concerns for investors in general, those interested in SEZ-based townships like Swarnabhoomi should take heart because the trend is definitely pro-SEZ.

      Besides, the problem in Tamil Nadu is not the abundance of SEZs like in Navi Mumbai, but instead the overall demand/supply ratio which includes SEZs and all other IT parks. Given the choice, companies prefer SEZs, and at least as of today the demand for SEZs in Tamil Nadu is pretty strong.

      Finally, as crvenky2006 pointed out, Swarnabhoomi also includes a non-IT SEZ which is intended to attract several other industries to the area.

      However, you make a valid point about the monthly maintenance fees. I'll find out asap and post it here.


      crvenky2006
      , my parents visited the site last week. The first thing they noticed was the sheer distance from the city! But I believe that an integrated township should eliminate the need for frequent travel to and from the city unless our workplace is within the Chennai metro area.
      Construction is underway for Phase I and Phase II of the residential units as well as in the SEZ. The current price for their Phase II is Rs. 1600/sq.ft regardless of the square footage of the apartment and the floor it's situated on. Their launch price for Phase I was 1475/sq.ft, so there is already some appreciation (may be an artefact, though). However, the lady who contacted me said their tentative pricing for Phase III was going to be 2000/sq.ft.... That's a good sign, right?! Anyway, they have ~250 apartments left out of 400 from Phase II (launced last month), and they are sold out of all except 1BHK apartments from Phase I (~20 out of 300).

      As for developments outside of Swarnabhoomi, there is apparently nothing yet, but it's probably too early to see that (they just launched a few months ago). I believe that Marg will provide all the infrastructure they promise. As for the government's promise of widening ECR and providing a railway line, your guess is as good as mine . Since Southern Railways has approved the railway line, I have good hopes for that project... but it may well turn out to be another 'Parakkum Rayil' fiasco! Let's keep our fingers crossed...

      cheers!

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      • #13

        #13

        Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

        Self sustainable township

        Friends, Self sustained townships(with schools hospitals and some work opportunities) are good provided they are close by to main city as an employee does not want to limit his or her employment growth to the limited opportunities available with in the township (SEZ).

        Say you are a professional, you would like to jump jobs every couple of years to further your carrier, this will be limited if you live in a pocket 70 kms away from the city.

        If this Swarnaboomi is around 30 Kms to Adayar than there is better future capital gains as all type of workers from South Chennai would be interested to buy from you.

        It will end up like Jamnagar (Gujarath),Neyvali (NLC) Thermal City (Tuticorin)etc, at least they are built by Government bodies and maintenance responsibility falls on the Municipal corporation and government bodies.

        What I hear from Navi Mumbai is, the builders build beautiful features that aid the sales process, but the costly maintenance falls on the hands of the owners after the developer has made his money and walked away.

        There are no rules preventing deception of low maintenance levy at the sales time and then hefty increase in the levy at later stage (as happened to My friend at Navi Mumbai)

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        • #14

          #14

          Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

          5 year tax holiday at SEZ and after life.

          I hear lot of organizations (IT and others) keep moving every 5 years from one SEZ to the another.

          The reason: They get 5 years 100% tax holiday (Exports only) at a new SEZ,

          Export Tax holiday for SEZ:

          SEZ units (100 per cent for the first five years, 50 per cent for the next five years, and up to 50 per cent for further five years, subject to creation of reserves),"

          So once the five years is finished they end there lease with the unfortunate owner and then move on to another new SEZ for a new 5 (100%) year tax holiday.

          This is already happening in many part of India (Gujarath, Maharastra ,Delhi, NOIDA,Gurgong)

          What happens to the old SEZ (No tax holiday), Well if they are close to other facility they will survive if they are in an isolated location, bad luck – Concrete jungle with no value.

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          • #15

            #15

            Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

            township v Boutique complex

            The sale gimmick followed by developers all over the world,

            · This phase is Rs 1500 per sqft, but the next phase come up for sale in 3 months is priced at Rs2,000

            · We have sold 80% of the units already and only 20% remaining, they will be sold in 1 month, then you will have to go to Phase 2 and pay Rs2000 per sq ft.

            If your buying real estate please do not restrict potential resale/rental to set group of people.

            You will pay for swimming pools, lifts, Gyms, water futures, huge generators etc.

            Boutique apartment complex (12 to 50 unit complex) closer to large city, would be the best.

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            • #16

              #16

              Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

              Marg Swarnabhoomi is not just 70 kms from Chennai. It is 90+kms from Chennai. The querist has stated that it is 70 kms from the office of Marg Swarnabhoomi in OMR, which already is 20 kms from Chennai!

              Mamallapuram is 60 kms from Chennai. Kalpakkam (Pudupattinam) is 12 kms from Mamallapuram or 72 kms from Chennai. Marg is 20 kms from Pudupattinam.

              The IT sector when they first wanted to extablish, were shown the ECR (the new Mamallapuram Road) for consideration by the authorities. The studies revealed that the sea wind speed is more because of which the communication towers would not perform at their best. Therefore, the OMR which is about 5 kms away from the sea coast was selected. Therefore, at the Marg locations or the ECR, IT sector will not grow as projected.

              The Cheyyur, Marakkanam, creeks, salt pans, reserve forests and Buckingham canal are all within 10 kms near the Marg site. Thus the site is ecologically sensitive. When the ECR project was first proposed the environmentalists opposed and PILs were filed upto the Supreme Court level. The SC constituted the Justice Natarajan Committee and Coastal Zone Management regulations were framed and are in force. There are District, State and Central Coastal Zone Management Authority considering every proposal for development. Thus the approvals for new projects on the coastal areas may not be as fast as it had been in OMR or GST Road, resulting in stunted growth. Moreover in the coastal areas only certain types of projects are permitted.

              The road widening beyond present levels will meet fresh opposition from environmentalists. Moreover, the road as of now has curves that are not generally permitted on National Highways. Because the Supreme Court banned relocation of villages, disturbance of the waterways and reduction of greenery by cutting of trees, the curves stay as they are. The NHAI is unable to straighten the road.

              The scrapping of the Cheyyur power project was because of environment reasons.

              The area around Marg location has many scenic spots. The villages around are ancient - from the Tamil Sangam days. The villages carry ancient Tamil names like Othiyur, Pudupattinam, Then Pattinam, Vada Pattinam, Idaikkazhinadu, Panaiyur, Sikkinankuppam and what not. The places like Mudaliarkuppam Boating camp site, Alamparai Fort (dilapidated) Beach site, Marakkanam Creek, Othiyur Creek are all very scenic and beautiful. The fishermen's villages in this area (32 kuppams) are all considered very ancient. Thus any development of the kind that happened in OMR will be a far-cry.

              The Marg property will be a good holiday home or a retirement residence. It may not bloom like the OMR as a commercial hub or Besant Nagar or Annanagar as a residential locale. It may emerge as a holiday destination.
              Last edited August 26 2008, 08:16 PM.

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              • #17

                #17

                Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

                Hello Prasanna,

                Did you buy?

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                • #18

                  #18

                  Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

                  what is the current price in marg ?

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                  • #19

                    #19

                    Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

                    Hi Everyone,

                    I was looking for a apartment in the range of 10 - 12 lacs as just a investment which could help in reducing the tax burden and in turn the money could go to some good investment.
                    I seached apartments in Urapakkam,Guduvanchery and all i got was very small apartments in the price range and no big amenities.
                    In Guduvanchery a flat was 17lacs in the IIIrd floor ( 650sqft )
                    I regularly happened to see the marg advt on the back of city buses, but wasn't really interested as it was too long a distance.
                    2 weeks back, i thought to just give a look at this place ( since i was free and wanted to go out on a long drive ), so checked with the MARG sales guy and he promptly arranged a cab and picked me and my family from Tidel park at around 12 noon.
                    He was very professional and explained the questions patiently in the car.
                    We reached the MARG site at 2:00pm and lunch was arranged by them.
                    After lunch, he took us to the model apartment of Navratna which has been completed and the posession handed over to the buyers.
                    The apartments were all full.
                    My first impression inside MARG was WOW!, this is the kind of place i would like to spend the rest of my life, because of the clean and green env and neat roads.
                    After visiting the model apartment, the rep showed us the utsav in progress( to be completed by July 2012). and took us to the site of Aayush which the construction would start only by May 2012.
                    Four seasons was also to be started by June 2012.
                    Since it was inside my budget and instantly liked the place, i discussed with my family and booked a apartment of 669sqft in Ist floor aayush.
                    Inside there was a operational music college, and couple of manufacturing industries and some office buildings under construction.
                    I have decided to move to this place after say 5 or 10 years and by then i trust all the facilities would be operational.
                    For now, it is just a investment which will help me in reducing the tax burden.
                    As a added incentive, there are amenities like club house,gym,swimming pool.
                    And assured rental for 2 years from the date of posession.

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                    • #20

                      #20

                      Re : Marg Swarnabhoomi, Marg Groups, Seekinankuppam, Chennai

                      There is definite future potential for areas you mentioned like Urapakkam and Guduvanchery. They are going to be part of the mega region, being planned for Chennai. But Marg Swarnabhoomi is an isolated township, far away from Chennai.
                      If you want peaceful living, go for it.
                      If you want capital appreciation, look for alternatives.

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