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Fairmont Apartments by VGN Guindy, Chennai

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Fairmont Apartments by VGN Guindy, Chennai

Last updated: October 31 2019
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  • Re : Fairmont Apartments by VGN Guindy, Chennai

    I think Navin also has a completed project in the bank of cannal, do not remember the name.

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    • Re : Fairmont Apartments by VGN Guindy, Chennai

      Originally posted by Haojin View Post
      I think Navin also has a completed project in the bank of cannal, do not remember the name.
      R u referring to the Navin's Jayaram gardens in Manapakkam (on the bbanks of the river). I did consider this as it is pretty close to DLF/L&T etc. However, did not close because of the stench, mosquito and budget.

      However, today looks like the society is in demand with a huge rent premium and resale demand. None of the problems like stench/mosquito/river proximity/water quality etc seems to deter any of the buyers/end users.

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      • Re : Fairmont Apartments by VGN Guindy, Chennai

        Informed that launch on 24th. Wonder if they will stick to the commitment. Their N'bakkam project seems to have some issues, all this debt must be weighing down on the finances.

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        • Re : Fairmont Apartments by VGN Guindy, Chennai

          Hi, Got further info .... looks like official launch is on 23rd (could be a big campaign) and Basic Price of 6999

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          • Re : Fairmont Apartments by VGN Guindy, Chennai

            Price has gone to 7500 Rs/Sq Ft. Im told launch is around the corner.

            Anyone else with further information?

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            • Re : Fairmont Apartments by VGN Guindy, Chennai

              Originally posted by venkat7 View Post
              Hi, Got further info .... looks like official launch is on 23rd (could be a big campaign) and Basic Price of 6999
              Launch in 2023?

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              • Re : Fairmont Apartments by VGN Guindy, Chennai

                Hi guys, the proposed site is not only on banks of the adyar, but it also encroaches into the river bed. There was an article detailing the encroachment, I will try to add link to it shortly.
                BTW, the project is also due to land in more controversy owing to the way in which the land was acquired by VGN. Article link here https://www.savukkuonline.com/8982/
                Looks like this piece of land belonged to HTL (Hindustan Teleprinters) and owning to bad debts, this land was possessed by the lenders under SARFAESI act. The lenders (led by SBI) were supposed to have auctioned this land to the highest bidder, ensuring that the sale price could cover the debts and also take care of settlement of HTL employees. However, few top notch officials of the banks colluded and sold this land to a low price to VGN. No doubt those officials would have got prime apartments in the projects as a 'token' of appreciation.
                This is going to blow up into a scandal shortly, therefore, I would shrink from investing in this project mired in controversy.

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                • Re : Fairmont Apartments by VGN Guindy, Chennai

                  Above was posted by Economist as soon as it came on Savukku here.

                  It did not evoke much discussion but as you can see from the posts that followed, the interest is more on when the launch is going to be.

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                  • Re : Fairmont Apartments by VGN Guindy, Chennai

                    Originally posted by maverick007 View Post
                    Above was posted by Economist as soon as it came on Savukku here.

                    It did not evoke much discussion but as you can see from the posts that followed, the interest is more on when the launch is going to be.
                    Indeed, there was an earlier 'reference', but what I have provided is the 'link' to the detailed article outlining the issues with this project.
                    People are continuing to show interest in the launch, I agree, but, how many of them are actually going to buy/invest in this maverick project? (pun intended)

                    VGN's credibility is already down in the gutter, and, IMHO, if somebody is still willing to invest a crore on this project, they sure are bound to be 'maverick' in their lifestyle. [Ok, that was too good to let pass ] I wouldn't trust a madman to hold my child while I wanna tickle an itch, and if other people think otherwise, its their child.

                    The purpose of forums such as this is similar to that of a cheat-sheet for people who play minesweeper. If you use the cheat-sheet, you survive the tough game, if you ignore the warnings, you might still survive, but chances of blowing up is more.

                    I am not a doom-sayer, but, when I see a potential problem, I wave my red flag. I am not forcing anyone to stop. Hope prudence prevails.

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                    • Re : Fairmont Apartments by VGN Guindy, Chennai

                      Best is to stay away from such projects until these stuff are cleared.

                      Better than booking and then repeatedly posting in this thread asking "Have i been cheated?".

                      @albert, the more interesting word play would be "ambalam" failing to notice what Savukku has ambalam-ed
                      Last edited May 30 2015, 06:39 PM.

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