Announcement

Collapse
No announcement yet.

Ecstasea Luxury multistorey apartment on ECR

Collapse
X
Collapse

Ecstasea Luxury multistorey apartment on ECR

Last updated: February 19 2013
33 | Posts
  • Time
  • Show
Clear All
new posts
  • #11

    #11

    Re : Ecstasea Luxury multistorey apartment on ECR

    Originally posted by SRajagopalan View Post
    All did any one did a site visit to this location
    how is the water quality
    we keep talking about Aquafier recharge, catchment, canal restrictions and CRZ review, look at, this it defies all odds IMHO
    But in any case not ready to cast a judgement if any one did a site visit please post pics or comments/ reviews /feedbacks
    Sure does defies all odds.

    It is right next to muttukadu and in a very eco sensitive area with water very close on 3 sides sides.

    The site is said to be opposite to national institute of multiple disability NIEPMD.

    This must come under Mammalapuram Local Planning Authority?

    If this is sucessfull it can be a game changer for ECR.

    Comment

    • #12

      #12

      Re : Ecstasea Luxury multistorey apartment on ECR

      Originally posted by Economist View Post
      Sure does defies all odds.

      It is right next to muttukadu and in a very eco sensitive area with water very close on 3 sides sides.

      The site is said to be opposite to national institute of multiple disability NIEPMD.

      This must come under Mammalapuram Local Planning Authority?

      If this is sucessfull it can be a game changer for ECR.
      No actually not, it wont come under mamalapuram afaik
      i know this site, i drove across but there was a big compound wall with gates but no construciton or launch boards
      it may even have a sea view on top floors because ECR narrows on that bend on seaside and there are not a lot of land for sale on seaside in that neighbourhood
      from location it will fall under muttukadu -
      i beleive this is the approximate google map coords
      12.812827,80.241469

      Project site

      http://www.tulivedevelopers.com/ecst...eId=draggable1

      Comment

      • #13

        #13

        Re : Ecstasea Luxury multistorey apartment on ECR

        Govt started grilling and drilling this Coastal stretch and will come out with a report and action plan in 2 months time . Many will have Tsunami like situation after that .

        CRZ,ACQ,BW,BT,ML ,DA,CFA,NI will be known when it is clearly spelt with explanation by Authoriites with Legal notice .

        Many Beach front Landlords are foolish to keep quiet by paving way for others to develop MSB that too with 0.8 FSI .

        If they construct 16 floors, then Purva,EP and others will revise from 11 to 28 like Hira and Hira,Opaline,Add will start developing 45-50 floors only henceforth .

        Flight landing and taking off path and angles are nt known to many it seems . Hence Add 50 floors is still kept pending by AAI and Hiras 45 floors approved along with Abov.

        Respect the height when you raise MSB and distance when you do business close to sea

        Comment

        • #14

          #14

          Re : Ecstasea Luxury multistorey apartment on ECR

          The OP's development in discussion is not BEACH SIDE its on the other side but close to canal
          I have marked and provided the Google map coordinates, the seaside landlords mostly never make noise about any thing as most of them are not in a position to make any noise due to variety of personal situations, have you ever seen a Yahoo group, google group, FB group, or even a Home owner association activist group on the internet from ECR seaside home owners ?
          They almost will never, One of my neighbour is ***STOP(akkarari) restaurant owner all he says why go create publicity
          exact quotes
          "erkanave ekkachka thalai vali idhu vera nammakku thevaya "
          they may try some thing behind the scenes no one will come and do some thing in public.
          This is my exp with them

          Comment

          • #15

            #15

            Re : Ecstasea Luxury multistorey apartment on ECR

            Most of the right side of ECR should be 500M+ from the sea.
            Since land is pretty cheap on this side, developer can still make money by 0.8FSI if the land is procured at cheap rates.

            Looking at google maps, this project is pretty crappy location. Very close to backwaters and there is no development in the opposite side too.

            I would be interested to see what kind of people will go for this development.

            Left Side of OMR properties with Sea View in Siruseri are priced much lower at 4-4.5K, with Hira at top of the range. Olympia Reflections has much better location than Estacea and also a high end project, though being sold at around 6K.

            I feel this project is definitely worth less than Reflections, Hira on OMR and might even be bit lower than TVH Ouranya Bay and Olympia Opaline.

            So if this is launched at 4K, it will be very tight for developer. At 2K constuction cost leaves 2K for land. At 20% common area, the UDS has to be close to 100%.
            2K * 2400 = 48L per ground will be UDS cost.

            He should have got his land for practically nothing, may be 20-30L a ground or even lower to attempt a project like this. May be this is a JV.

            Coming back to Apt development on ECR, the economics just does not seem to work out. As land is overpriced, I would blame late 90's and early 2000's period for startospheric price increase though in the last 10 yrs most people have shifted to OMR. For a developer to offer 100% UDS and bear high construction cost, top of it sell at a price equal to OMR presents a very difficult challenge. So thats why no big developers have ventured into this space. It is going to remain indep house domain or illegal flats for quite some time.
            Last edited February 18 2013, 12:57 AM.

            Comment

            • #16

              #16

              Re : Ecstasea Luxury multistorey apartment on ECR

              Originally posted by k11 View Post

              Coming back to Apt development on ECR, the economics just does not seem to work out. As land is overpriced, I would blame late 90's and early 2000's period for startospheric price increase though in the last 10 yrs most people have shifted to OMR. For a developer to offer 100% UDS and bear high construction cost, top of it sell at a price equal to OMR presents a very difficult challenge.

              So thats why no big developers have ventured into this space. It is going to remain indep house domain or illegal flats for quite some time.
              I would disagree with that view.

              The reason why ECR is less developed is purely due to multiple development control rules enforced by both Central & State Gov.

              Multiple issues like ultra low FSI, Minimum land size requirement, ARZ, CRZ I , II & III etc are the reason.

              If there was no extra gov control, ECR would have even out done OMR.

              A sensible goverment in a sensible country would have a flexibile plan to ensure both development & ECO conservation would go in hand in hand instead of heavy handed approach India & TN takes.

              Good example is Gold Coast (94 km beach stretch) where there are many super tall buildings right on the beach including worlds tallest Apartment Q1 (1058 feet high was the record untill May 2011) on the beach.


              So it is the multiple gov rules enforced is reson for ECR's current state nothing eles.

              The Gov (present and past) wants ECR to be designated low density.

              Comment

              • #17

                #17

                Re : Ecstasea Luxury multistorey apartment on ECR

                Originally posted by Economist View Post
                I would disagree with that view.

                The reason why ECR is less developed is purely due to multiple development control rules enforced by both Central & State Gov.

                Multiple issues like ultra low FSI, Minimum land size requirement, ARZ, CRZ I , II & III etc are the reason.

                If there was no extra gov control, ECR would have even out done OMR.

                The Gov (present and past) wants ECR to be designated low density.
                I am not saying ECR is bad or anything. I am just saying it is not possible for developers to make a lot of money if you have to offer 100% UDS, which is due to 0.8 FSI. Govt policies on FSI will not change, I am not questioning that.
                So I am not sure where your disagreement comes from. Are you implying lot of money can be made by developers in low FSI and high land cost environment.

                I live in the city but still if I lived in a ECR bunglow, I commend the Govt's policy to keep low FSI and big plot sizes. Everyone loves rich people to be thier neighbours. I would not like slums or middle class people to move into the sea side properties and bring down the value of my home. ECR is probably the only place (among suburbs) where it is worth buying a plot and building an expensive custom built home with pool and amenities. All other suburbs, Villa developments take first priority for end use.


                Update -
                Even as a prospective buyer, I love ECR. Becasue of this low FSI and minimum plot size, every tom, dick and harry cannot come and speculate, thereby creating a bubble. Developers hesitate to get in and even if they get in, they do mid to high end properties. So prices are kept in check and end user demand controls the pricing. For an end user, there are some good deals to be made, especially on older bunglows.
                Last edited February 18 2013, 03:24 AM. Reason: additions

                Comment

                • #18

                  #18

                  Re : Ecstasea Luxury multistorey apartment on ECR

                  My disagreement is specific to your view that cost of land is prohibiting factor for growth in ECR.

                  In my opinion large land parcel ECR is cheaper than say OMR

                  The reason being the options of what can do with the land is limited by multiple gov restrictions, therefore many developers do not show interest.

                  If there was flexible planning rules which gives importance to ECO value and aesthetics coupled with sensible development plan you end up with a beautiful Miami beach or Gold coast type area.

                  MSB's and Skyscrapers may not give the slum like look.

                  At least one strech/area of ECR can change like that if Gov supported and people will pay high price to live in such Marnia.

                  But it is unlikely.

                  Knowing our greedy developers and rule breaking oppicers.

                  I too agree with your view that the restriction may be good to keep the place the way it is after all.
                  Last edited February 18 2013, 03:49 AM.

                  Comment

                  • #19

                    #19

                    Re : Ecstasea Luxury multistorey apartment on ECR

                    Originally posted by Economist View Post
                    My disagreement is specific to your view that cost of land is prohibiting factor for growth in ECR.

                    In my opinion large land parcel ECR is cheaper than say OMR

                    The reason being the options of what can do with the land is limited by multiple gov restrictions, therefore many developers do not show interest.

                    If there was flexible planning rules which gives importance to ECO value and aesthetics coupled with sensible development plan you end up with a beautiful Miami beach or Gold coast type area.
                    Yes, I agree that ECR has lower prices than OMR. But by using FSI built-up areas, price of a flat in OMR will always remain attractive to ECR. Becasue of lower FSI, it is not a 1:1 comparison, developers always estimate the value of land by number of sqft that they can develop and sell. ECR projects like Estacea cannot compete with OMR ones on price.

                    When it comes to value of my property, I do not care about prices. It is more about livability. I strictly oppose any kind of FSI increase anywhere in Chennai, if zoning is not followed. People (consturction companies) are intent on spoiling the beautiful beaches.

                    I understand many NRIs and speculators do not care about livability and focus only on selling price even if it comes at a cost of slumification of area. But for a person living in the area (who would never sell) all of these issues become important than a price rise on paper.

                    ECR will never become Miami or Gold Coast unless the govt occupies the entire strech, remove existing structures, rezone the areas, make wider roads and hand over the residential land to developers to develop and share it with land owers.
                    Gujarat did something like this, where they took over some badly developed areas, rezoned them and handed over remaining the land parcels to original owners. Original owners did lose certain % of land but they got a smaller plot in a developed layout which is more vauable in the end.
                    Last edited February 18 2013, 04:48 AM.

                    Comment

                    • #20

                      #20

                      Re : Ecstasea Luxury multistorey apartment on ECR

                      K11,

                      I think we have similar views on ECR but some miscommunication is happening.

                      I am not supporting for development in ECR (at least not as done in Chennai)

                      But I was pointing out the reason for ECRs lack of development ( not that it is a bad thing)

                      The factor that you, me any many others like about ECR (to reside) is not appealing to main stream "sausage factories" therefore the price is lower than what it should be otherwise.

                      Just because I am pointing out the reason you may think I am supporting ECR to become Velachery, It is not true.

                      My point is ECR should be left as is or Developed in overseas model any one of the two but certainly not Velachey/ perunkudi etc model.

                      If I were to live in Chennai I would love to live in Uthandi beach front on 4 ground plot.

                      Anyways I better drop this here as it is getting very convoluted.
                      Last edited February 18 2013, 04:53 AM.

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X