Monthly Archives: August 2012
Marg Institute organises orientation programme for new students
MARG Institute of Design and Architecture, Swarnabhoomi (MIDAS) organized a orientation programme to welcome the second set of new batch students who enrolled themselves into MIDAS through the counseling process in Anna University.
The dignitaries attending the initiation program were Sandeep Mehta, President – CREDAI and MD, Jain Housing and Constructions Ltd., Dr. Bala Balachandran, distinguished Professor of Accounting and Information Management at the Kellogg School of Management at Northwestern University & founder and dean, Great Lakes Institute of Management, Dr. Ashrafi S Bhagat , Art Historian , Suhasini Ayer, Principal Architect, Auroville Design Consultants ,GRK Reddy, Chairman and Managing Director, MARG Group , Rajini Reddy, MD, Exemplarr Worldwide Ltd, and AP Ganesshram, CEO – MARG Swarnabhoomi and Education Services.
While Mr. Sandeep Mehta, President – CREDAI, expressed views on the “Future in Architecture” , Dr. Ashrafi.S.Bhagat, Art Historian enlightened the audience on “South Indian Architecture” and Suhasini Ayer, Principal Architect, Auroville Design Consultants on “Sustainable Architecture / Building Technology”, continuing the session Prof. Jaffer AA Khan, Director, MIDAS, welcomed the 2012 batch and introduced them with the teaching pedagogy of MIDAS.
Speaking on the occasion GRK Reddy, CMD, MARG Group, said, “It is indeed a pleasure to see a new set of budding architects as the next batch at MIDAS. While the good work done by the students of the first year has been noteworthy and they have carves a niche for themselves, it is up to the new batch to keep up the standards of their seniors. With infrastructure and real estate being a critical element of our economic development, the demand for good architects will only increase. MIDAS has come into existence for providing quality education and exposure so that students have a great chance to fill the need supply gap and become professionals to reckon with in the architecture industry.”
MIDAS organized this programme for the new batch of students to acclimatize them to the course curriculum as also to introduce the 2012 batch to the faculty. The new set of students will pursue 5 years Bachelor Degree Program in Architecture Studies (B.Arch – Architecture Studies). The program is offered in both day scholar and residential modes. All the approved seats are filled and students from all over the country have joined the second batch of MIDAS.
Reacting to a full batch of budding architects, an enthused Prof. Jaffer AA Khan, Director, MIDAS, said “I am extremely happy today to welcome the new set of students to our institution. Since its inception, the one year old MIDAS has already become a familiar name in the architecture industry. Though we have a long way to go, the recognition we have got in the first year is on par with any other leading architecture institutions in the Country. With leading international and national experts visiting our institution to share their practical knowledge with the students and our excellent industry oriented curriculum will ensure that the thirst of architectural knowledge by every individual student will be fulfilled with utmost care. With just a year of campus exposure at MIDAS, a best in class architecture exhibition in the city by 2011 batch students is a recent highlight that I am particularly proud of. I’m sure the new batch will work hand in hand with the faculty and their seniors to become seasoned professionals and architects. I wish them the very best.”
MIDAS, a part of 1000 acre eco-system at MARG Swarnabhoomi has an exclusive built up area of 43,000 sq. ft which houses a well equipped library, a futuristic studio, large spacious classrooms plus audio and video learning support. The campus also has a swimming pool, basket ball courts, multi-purpose sports ground, convenio store, 24 hours clinic and health care gymnasiums.
The curriculum at MIDAS is of International Standards and the Professors are from across the globe. This will enable every student to gain extensive knowledge with regard to international architectural standards and movements, right here in India.
AP Ganesshram, CEO – MARG Swarnabhoomi and Education Services, addressing the students in the orientation program, said “MIDAS is perhaps the only institution in the country which provides direct and on the field training to its students. With lot of real estate and infrastructure projects undertaken by the MARG Group itself, the students are given an opportunity to work with the professionals on the field to gain the practical experience and I am sure this “live lab learning” experience at MIDAS will give them cutting edge competency with rich dividends when they get a chance to showcase their prowess in the field of architecture.”
As a leading infrastructure developer, MARG recognizes the demand supply gap which exists between the exponential growth of infrastructure and the lack of good schools of architecture. The program is structured to facilitate students foray into specialized areas such as Retail Design, Lighting Design, Exhibition Design, Event and Set Design and Ergonomics. Designed to bring in the prevailing trends across the world, MIDAS is one of the few Schools in India to offer alternative career options to architecture students through integrated study.
MIDAS is part of MARG Swarnabhoomi, a 1000 acre campus for education, research, innovation and industry. MARG Swarnabhoomi is being built on the concept of replicable model for a new city, students of MIDAS will have live experience on the finer aspects of architecture and have a 360 degrees learning of complete urban planning which includes, roads, drainage system, sewage, residential buildings, factory spaces, commercial complexes and landscaping etc. MARG Swarnabhoomi is designed to bring in innovation through close networking between industry and academia. Through this synergy, students will have up to-date information on industry happenings, latest trends, networking with professionals etc.
The first year batch students at MIDAS recently organized a hugely successful 6 day exhibition at Lalit Kala Akademi in Chennai ( July 2012) to showcase their year end work. World renowned architect Mr. Sanjay Mohe critically appraised the student works during his visit to the exhibition and applauded the student’s works.
Source:educationsun
Roads to the future
| Three stretches on the city’s outskirts are on the way to becoming real estate hotspots, reports Prince Frederick |
Kelambakkam-Vandalur; Vandalur-Oragadam-Walajahbad; Sriperumbudur-Singaperumal Koil.
These three stretches are hot topics in Chennai’s realty circles. They are spoken of as roads of the future. It is easy to see why. There is a flurry of business activity and infrastructural development along these roads and in their vicinities; moreover, they directly feed into big corridors of development.
All three connect to GST Road; in addition, Kelambakkam-Vandalur Road leads into Old Mahabalipuram Road and Sriperum budur-Singaperumal Koil Road into the Bangalore Highway.
“The GST Road is like a spinal column and these feeder roads, like vertebrae. What Mount Road does for Nungambakkam High Road, Cathedral Road, Venkatanarayana Road and a few others, GST Road does for these three roads. If you look at it, GST Road is but an extension of Mount Road,” says R.V. Shekar of Lancor Holdings.
Urban planning and the lack of space for expansion in the city’s north have fuelled the development of these areas. As they are linked to arterial roads, they figure prominently in the plans of town planners. In keeping with the larger goal of decongesting the city, these three roads are being widened.
According to official sources from the State Highways, four-laning of these three roads is underway (a 12-km stretch on the Sriperumbudur-Singaperumal Koil road is in fact getting a six-lane). At the Oragadam junction where the Sriperumbudur-Singaperumal Koil road and the Vandalur-Walajahbad road meet, a grade separator is coming up.
Close to OMR
Above all, the speedy growth of OMR as an IT hub has generated interest in the Kelambakkam-Vandalur stretch.
The road has also benefited from the development of social infrastructure facilities such as colleges, schools and hospitals. Access to similar facilities in nearby OMR and GST road is another attractive factor. Industry watchers feel that the completion of the Outer Ring Road will provide a further developmental fillip.
As for the other two roads, industrial activity in Sriperumbudur and Oragadam is the primary factor for the real estate boom. Renault-Nissan has installed a huge plant in Oragadam with an annual target of 4 lakh cars; Daimler India Commercial Vehicles (DICV) has built a test track at a 400-acre site in Oragadam; Sriperumbudur and its vicinity, which enjoyed the first wave of development that swept through the region, has Saint-Gobain, Hyundai, Nokia, Samsung, Flextronics (provider of electronics manufacturing services), Foxconn (computer and electronics manufacturer) and Dell.
Naturally, rapid development has pushed land prices in all the three roads.
“While land near the Sriperumbudur end of the Sriperumbudur-Singaperumal Koil Road could be bought at Rs. 300 to Rs. 350 a sq.ft. three years ago, now you can’t hope to get anything for less than Rs. 600 to Rs. 700 a sq.ft,” says Abinesh Yuvaraj of Baashyaam Constructions. Likewise, land on the Padappai, Oragadam and Walajahbad sections is available at similar prices and attracts investment buyers.
Tracts of land on either side of the Kelambakkam-Vandalur Road cost relatively more given their proximity to the OMR. At Kandigai, one major project offers developed plots at Rs. 26 lakh for a 2,400 sq.ft piece.
For many years, realty talk has centred around the OMR. Those in the business now believe that the buzz in the future will be around these three roads.
What builders say
Kelambakkam-Vandalur Road
Fifteen years ago, an ant would not go down the Kelambakkam-Vandalur road. It is now buzzing with activity.
R.V. Shekar, Lancor Holdings
A majority of those who buy from us are end users.
J. Ravikanth, Unitech Group
It is a road that will come to support a mammoth group of people who work on OMR and GST road.
Devadoss Sundaram, CeeDeeYes
Increasing connectivity by way of minor roads between the Sholinganallur-Medavakkam stretch and the Kelambakkam-Vandalur stretch encourage people to look for housing in this area.
Sandeep Mehta, Jain Housing.
Sriperumbudur-Singaperumal Koil Road & Vandalur-Walajahbad Road
Blue collar workers constitute at least 80 per cent of the working population in these areas. It is a young workforce with modest salaries.
P.B. Krishna Prasad,
Vasavi Housing
Sriperumbudur is definitely on the way up. But we still have to cater significantly to a highly budget-conscious market.
Abinesh Yuvaraj,
Baashyaam Constructions
Chennai city housing prices zoom past Rs 1 crore
If you are an apartment owner in a good location in city areas, then you can feel proud that you are a crorepati today at least in notional values. But if you are the one due to invest in housing for a specific city location, you will have to cough up not less than Rs 1 crore. Soaring land values, lack of clear title properties, fierce competition among developers and demand exceeding supply have all made buying an apartment a virtually impossible task for the common man.
Yet another factor is the archaic development control rules which have throttled the housing development for decades in key locations across the city. Restrictions on FSI have made housing a costly exercise for Chennaiites over the years without rhyme or reason. The worst affected sector is the middle class for whom the question of acquiring their dream home in city areas will be a Herculean task hereafter. The Tamil Nadu Housing Board apartment owners in key city locations are sitting pretty as the redevelopment exercise on their existing units would fetch a windfall besides cash incentives in the years ahead.
Just visualise the apartment prices for select ongoing projects across city locations and for a 1200 sqft apartment the price is over Rs 1.25 crore: Alwarpet (Rs17,500-Rs20,000), Anna Nagar (East) (Rs 12,000-Rs12,500), Besant Nagar (Rs 12,500-Rs 13,750), Adyar (Rs 13,500), Kalakshetra colony (Rs 15,000), Kilpauk (Rs 12,800-Rs15,000), MRC Nagar (Rs 10,500-Rs15,000), Kasturi Ranga Iyenger road (Rs 28,000), Nungambakkam (Rs 13,000 – Rs15,000), R.A. Puram (Rs 13,500), Sri Nagar Colony (Rs 14,000-Rs16,000), T Nagar (Rs 12,700-Rs15,000) and Valmiki Nagar (Rs 11,000-Rs12,000).
Even the resale apartments in key city locations are quoted at rigid prices due to which the transactions are taking much longer time nowadays, say realtors monitoring secondary market price movements in the city.
At the same time not all city properties can fetch fancy prices. There are road restrictions and access issues that have made even prime properties lying idle for several years as buyers do not evince keen interest at such prices. Even property developers are shying away from joint development in such areas due to lesser ratio for development. Some developers are keen to even accept 55:45 (developer) as the sale value compensates them with higher revenue and the lead time is short besides there is a ready market for such units.
For the younger generation this is a timely lesson to start investing in homes much earlier than later. They can pursue their costly higher education without any institutional commitment while pursuing their initial careers. They can mortgage, rent and raise resources from housing finance companies and banks to pursue their academic interest without the need to depend on their parents.
Source:magicbricks
Chennai Residential Real Estate Market 2012
DEMAND, SUPPLY AND PRICING
In contrast to what was been witnessed in many of the more volatile cities over the last couple of years, Chennai�s residential property market saw steady growth in terms of pricing, demand and supply. Chennai�s residential property market is predominantly end user driven, and this fact did a lot to sustain consistent absorption throughout 2011. The absence of overt speculation has also ensured that developer has move pricing of homes in a stable and gradual manner. Unnatural spiking has therefore been successfully kept at bay.
We expect interest rates to decrease over the course of 2012, and this will result in greater demand for homes in Chennai in 2012.
Increased job security in the city has definitely helped the market to maintain buoyancy and a positive outlook. Over the last 12 months, it became increasingly evident that Chennai�s residential real estate market is significantly dependent on the IT/ITES sector. With employment stability in this sector looking a lot better now than it did in 2010, demand for homes has now reached a comfortable and dependable growth trajectory from which developers are taking their market cues.
CONFIGURATIONS IN DEMAND
The preferred size for 3BHK flats in Chennai has increased from 1200-1300 square feet during the recession to 1400-1500 square feet in the revival phase. The preference for 2BHK sizes has also increased from 850-950 square feet to about 1100-1200 square feet. Again, the main reason for this upgrade in preferences is increased budgets made possible by improvement in the performance of the IT / ITES sector. This is a welcome trend which is enabling architects, planners and developers to come up with better quality dwelling units. Affordable housing units continue to rule the roost in areas where social infrastructure lags and capital values are therefore lower.
We expect overall demand for residential properties in Chennai to increase once the interest rates stabilizes from their current peak. There is a very healthy demand in both the primary and secondary markets, since supply is scarce in both owing to the severe lack of land within the city. Land pricing has, in fact, surpassed the buying capacity of developers and this has put pressure on their ability to come up with viable residential products. Lack of supply and exorbitant pricing are causing both the end users and investor segments to take a closer look at suburbs with decent infrastructure.
Suburban Demand Drivers:
- Positive market sentiments
- Possible softening of interest rates
- Increased job security
- Unaffordable property rates in the central city
Year 2011 saw residential property pricing in Chennai moving up in a phased and rational manner, which helped in sustaining the momentum. Prices rose by between 8-30% in different areas, but these rises took place in small compartments and in proportion to the actual sales in particular locations and projects. We expect a similar trend to prevail in the year 2012.
Expected Price Movement For 2012:
- OMR – 15-30%
- GST – 10-15%
- City � 20%
- NH-4 – 5-8%
AREAS TO WATCH
Madhya Kailash � Sholinagnallur
This stretch is witnessing a clear supply-demand mismatch, with demand outstripping supply. With new employment being generated in this corridor and corresponding absorption of IT space, this area and its peripheries are witnessing extremely healthy demand for residential property. Its proximity to the city adds to the appeal of this area, which will see good appreciation over the coming years. Encouragingly (and in contrast to other parts of OMR) all completed projects here are fully occupied.
Velachery
Velachery is seeing consistent growth, because it is one of the few areas which are seeing holistic and self-sustaining development. With malls and other social infrastructure improving, Velachery is definitely next in line for good appreciation. In fact, near-lying areas such as Medavakkam, Pallikarnai, Pallavaram�Thoriapakkam, the 200 FT. MMRD Road and Rajakilpakkam are already experiencing the positive fallout effect of Velachery�s growth as a residential property destination. These areas are also witnessing good absorption and capital appreciation. There is also significant demand for homes in Porur along the NH4 corridor up to Urapakkam on the GST Road.
Source:moneycontrol
Chennai realty rates in for a respite?
One of the key reasons affecting realty prices in the city seems to be the scarcity of land and the high cost of premium FSI within the city.
There is a lot of curiosity about whether realty prices in Chennai are moving up, down or staying stable. Industry analysts have noted a slump in sales, which has prompted buyers to entertain hopes that prices might soften. Property Plusspoke to industry watchers to gauge the prevailing mood in the residential realty sector.
What everyone agrees on is that Chennai is a stable market where prices are driven by the end-users. “Residential property prices move in accordance with actual sales,” says Badal Yagnik, MD, Chennai & Coimbatore, Jones Lang LaSalle India, adding that “residential property in Chennai is driven more by location than by specifications and amenities.”
Thus, prices have moved up based on the proximity to IT parks. “Many projects are coming up close to the IT parks, which are priced at a higher range,” says Aditya Verma, COO and EVP, Makaan.com. Old Mahabalipuram Road, for example, has been influenced the most due to IT companies setting up base there. “The average price per square foot in this area has appreciated 29.57 per cent in the last one year, moving from an average Rs.2,715 in August 2011 to Rs.3,950 in August 2012,” says Verma. Other localities that have become popular because of the IT boom are BST Road, Sholinganallur, Tiruporur, Tambaram and Oragadam.
In other areas, however, real estate prices might have actually gone down. According to Makaan.com Price Trends, a tool that captures the property prices movement in major Indian cities, Chennai property prices have dropped by approximately 12.6 per cent in the last one year. The average price per square foot has dropped from Rs.4,437 in August 2011 to Rs.3,800 in August 2012. In the second quarter of 2012, prices appear to have stayed stable because of dampening demand.
One of the key reasons affecting realty prices in the city seems to be the scarcity of land and the high cost of premium FSI within the city. “The available options in these locations have shot way past the budgets of even the upper middle class,” says Yagnik. Within Chennai city, prices for a standard flat with minimum or no amenities can range from Rs.1.5 to Rs.5 crore. “Other factors driving capital values in the residential market are increasing construction costs and increasing borrowing costs,” says N. Hariharan, director, Chennai, Cushman & Wakefield.
Given this, developers are looking increasingly at suburban locations. Unfortunately, in these areas, infrastructure development has been abysmally poor. This could be one big reason why prices and sales have remained stagnant.
In the near future, prices do not show an inclination to rise. “In order to uphold sales enquiries, developers might refrain from increasing prices,” says Hariharan.
As Verma points out, developers in many markets such as Chennai, Bangalore and Mumbai are holding property prices to avoid panic among the investor community.
The next few months, before the festive season hits, might prove crucial for the Chennai realty sector. “The realty market is facing multiple head winds that will keep property prices under check at least in the medium term. However, a short-term correction is actually healthy for the market and could attract fence-sitters, thereby boosting sentiments,” says Verma. For buyers waiting for some indicators, this sounds like a small reprieve.
Source:HINDU
Jordan Rudess readies up for a teaching stint in Chennai
Swarnabhoomi Academy of Music (SAM) — the professional music college under the aegis of MARG Ltd, located in Chennai is all set to welcome Jordan Rudess as a guest faculty for its Fall 2012 programme which will commence on August 22, 2012. Jordan will be visiting SAM in mid-October as a guest faculty to share his experience and expertise with the Fall 2012 batch students of the institution.
Confirming Jordan Rudess’ visit, Prasanna, President, Swarnabhoomi Academy of Music (SAM), says “Jordan Rudess is coming down to Chennai for a week as a guest faculty for the Fall 2012 batch students at SAM. Jordan is a globally renowned key-boardist and pianist in the popularband, Dream Theater. It is a dream for the youngsters who are aspiring to be key-board players and pianists to train under Jordan which is precisely why we chose him as a guest faculty for our programme.
At SAM we assemble a rotating faculty of some of the brightest and most diverse musical minds from around the world, put them all together and create a challenging and rewarding environment. Jordan Rudess is excited to be teaching at Swarnabhoomi Academy of Music and he will be in SAM in the mid of October 2012.”
Jordan Rudess is best known as the key-boardist and member of the progressive metal band Dream Theater and the progressive rock super group, Liquid Tension Experiment.
Rudess has been the full-time keyboardist in Dream Theater since the recording of 1999’s Metropolis Pt. 2: Scenes from a Memory. He has recorded six other studio albums with the group: 2002s Six Degrees of Inner Turbulence, 2003’s Train of Thought, 2005’s Octavarium, 2007’sSystematic Chaos, 2009’s Black Clouds & Silver Linings and 2011’s A Dramatic Turn of Events. In addition, he has appeared on the live albums,Live Scenes From New York, Live at Budokan, Score and Chaos in Motion.
Source:DNA
Shelter by the sea
| The collective architecture of the plush beach houses on the ECR speaks of a highly-refined taste and class. Prince Frederick takes a trip down the beach to see houses that blend with the sea and the sand |
AS you drive through the many roads that lead you off East Coast Road to the Bay of Bengal, you will notice many a house thumbing its nose at the constructivist, utilitarian, and an almost anti-aesthetic approach that defines urban architecture. Features that repeat themselves with great frequency are meticulously tended gardens, galleries that provide a panoramic view of the sea, balconies that have been corbelled out and balconettes that make the windows stand out. And, all the houses are capped by saddleback roofs with beautifully undulating red tiles, which, interestingly, is the most easily recognisable feature that runs through the ECR. This common aesthetics is in keeping with one of the Coastal Regulation Zone norms that says: “The design and construction of the buildings shall be consistent with the surrounding landscape and the local architectural style.” But whatever uniformity that you find is far from being monotonous. The collective architecture of the plush beach houses on the ECR speaks of a highly-refined taste and class that does not pale on you, no matter how many times you clap eyes on them.
“Beach houses should blend with the sea and the sand,” says Iranian architect Shahriar Dehghan, who has made Chennai his home and the ECR his stomping ground. His creative energies have given shape and style to beach houses that actively respond to their surroundings. “Beach houses should look like they have risen naturally out of the landscape. The building should not deform the natural beauty of the seafront. Be it 1,200 sqft or 10,000 sqft, a garden and a swimming pool are a must in a beach house. Construction of beach houses entails a study of geographical aspects such as climate and wind direction.”
One of the CRZ norms has it that beach houses cannot have more than one floor. Does this restriction stunt creativity? “On the contrary, this norm contributes heavily to the beauty of a beachside neighbourhood. World over, only cities and towns that are free of highrises score high on beauty. Within the city you are constrained to go vertical because of factors such as land prices and non-availability of vacant plots. Along the ECR, you can rise above this restriction. Land prices are relatively low, and those who go for beach houses are invariably people with enough means to purchase quite a chunk of land. Considering all this, where is the need to abandon aesthetics for functionality?”
And aesthetics sells on ECR, even if it comes with a hefty price tag.
“NRIs, expatriates, highly-paid software engineers who work on the parallel Old Mahabalipuram Road and other high income groups are increasingly settling down on ECR. They have the wherewithal to go for forms and structure that are based on Mediterranean or any other European architecture,” says Emmanuel Fernandez of Espana Builders and Developers, who are active on this road.
“Rental business is on an upswing. There are many beach houses that bring in a rent of Rs. 80,000 to one lakh. The demand for rental houses outstrips the supply by a long chalk.”
“With the NRIs showing an interest in ECR, land prices have spiralled. In the last few years, Neelangarai has registered an almost two-fold increase. Not uncommonly, landowners name their price and get it,” says M.M. Ahmed of Mariam and Co.
Norms violation
As more and more people are bowled over by the charm of living on the ECR, violations are on the rise. It is said that there are quite a number of buildings that fly in the face of the CRZ stipulation that “construction/reconstruction of dwelling units between 200 and 500 metres of the High Tide Level (HTL) is permitted as long as it is within the ambit of traditional rights and customary uses such as existing fishing villages.”
“Thanks to such violations, CMDA notices fly thick and fast,” says Mr. Fernandez.
“As most of those who want to live very close to the sea are generally the rich, it is not much of a problem to them if their piece of property is not approved. They tell themselves `anyway we are not going to apply for building loans,'” says Rozario of Nathan Builders. In point of fact, land within 500 metres of HTL fetches its owner a higher price.
The growth along ECR has not been uniform, but conspicuously haphazard. Says Mr. Dehghan, “Land prices in Neelangarai are higher than they are in Pallavakkam which comes before Neelangarai. But after Neelangarai, land value dips greatly. But when you reach Akkarai, it goes up. The reasons are not far to seek. Neelangarai is a well-planned locality with an excellent layout. The same cannot be said of the other areas. They are characterised by the same shoddy planning that has wrecked Valmiki Nagar.”
Drainage system
He comes down on the poor drainage system along the ECR. “You do not develop an area by laying roads and then dig them up to lay pipes. It is like putting the cart before the horse. Thorough planning should precede development.”
In many localities along the ECR, water is a sore point. Only bore-level water seems suitable for drinking purposes. And one cannot miss the lack of communion among neighbours. Many feel that they cannot count on their next-door residents for help during an emergency. Probably for this reason, many go for a security cover offered by not less than three dogs. Most of the roads that lead off the ECR culminate in fishermen’s villages. Those living in plush beach houses see in these fisherfolk a ready and willing help during an emergency.
Well, if you count the advantages and the disadvantages of living near the beach, you will in all likelihood find six of one and half a dozen of another. But there is one advantage that tips the scales – peace and quiet. It cannot be gainsaid that beach houses along the ECR provide these in an abundant measure. Longtime residents of Neelangarai, Rukmini Claes and her husband Rene Claes vouch for it.
Source:hindu
Marg Limited 