Outright Purchase of Residential Complex [300 Units]

OMR, Chennai.
INR 183 Cr
Rs. 5800/- Sq.ft
  • Area 3,15,200
  • 1BHK 30
  • 2BHK 140
  • 3BHK 30

Project Overview

Our client, a Real Estate Developer, is interested in an outright sale of a Ready-to-Occcupy "Residential Apartment Complex" in Perungudi off the Old Mahabalipuram Road, Chennai.

The project is an apartment complex comprising of 300 units. It offers aesthetically and functionally designed 1, 2 and 3 BHK Apartments. The Apartments are thoughtfully designed and built with Quality and Integrity. The project has received the Completion Certificate and all other clearances needed for Occupancy.

Reasons for the Outright Sale :

  • A change in the personal situation of the promoter
  • Promoters are keen to exit the Industry at the earliest
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Features

  • Piped Gas Supply
  • Gymnasiums
  • Landscaped Garden and Children Play Area
  • Rain Water Harvesting
  • Covered Car Parking
  • Library
  • Super market
  • Multipurpose Hall
  • Doctor’s Consultation Room
  • Piped Gas
  • Intercom facility to the Security Cabin
  • ATM
  • Grocery Store
  • Public Park adjoining

Location


  • A commercial hub
  • Well connected with surrounding areas via MTC (Metropolitan Transport Corporation) buses, MRTS (Mass Rapid Transit System) railway station and private vans providing additional support in the interiors of Perungudi
  • Very close to major IT parks like Tidel Park, Ramanujan IT park and RMZ Millenia Business Park.
  • It is located, approximately about
    • - 13 Kms from Airport
    • - 15 Kms from Chennai Central

Market Overview

The real estate developments in the Commercial Sector in Old Mahabalipuram Road has transformed the region into “New Chennai’

  • Proximity to IT parks such as Tidel Park, Ascendas, Prince Info City, RMZ Millennia
  • Proximity to 5-Star Hotels like Holiday Inn, Park Hyatt, Taj Gateway etc
  • The current price trend for multi-storey apartments in this area range from Rs.5,000 per sq. ft. to Rs.8550 per sq. ft. (Detailed market research report will be provided later).
  • The Average Rent for a 2 BHK apartment would be Rs. 18,000 /month per month.
  • The Average Rent for a 3 BHK apartment would be Rs. 25,000/month per month.

Investment Proposal

  • High Places Corp is looking to facilitate an Outright sale of the Entire Project
  • Expected Price from Seller R:s.5800/- Sq.ft
  • No of units available: 300
  • Salable Area: 3,11,500 Sq.ft
  • Complete Buyout of the Entire project – valued at INR 180Cr
  • Seller is open to Negotiations based on the profile of the Investor.

USPs of the Project / Benefits

  • Quality: This project was built with high quality standards by the promoter as a ‘ Dream Project’ with lots of passion.
  • Brand Advantage: The benefit of ‘Delivering a completed Project’ - instantly adding 3L Sq Ft + of built up area to the portfolio.
  • Completion certificate: Occupancy Certificate and all other Clearances obtained.
  • World Trade Center, Perungudi with 2.50 Million sq.ft of Commercial & Office Space will be ready by 2018.
  • Increase in Property value: Property Value in nearby areas like Tiruvanmiyur (@Rs 10,000 per Sq.ft) and Velachery (@12,000 per sq.ft.) are already at a premium. Property rates in Perungudi is expected to escalate too because of the proximity to the several Commercial Establishments on the OMR
  • Exemption from RERA – Since the Project is already completed it is exempted from RERA guidelines thus facilitating linear financial transaction and profits
  • Higher Profit Margins: Investor can gain on extras( for Electricity Charges, Gas Pipe Line, Infrastructure and Corpus Fund) thus increasing the profit Margins by 2 L per unit