Project Watch: Emami Tejomaya, Chennai

Emami Constructions Pvt. Ltd, a premier real estate developer in Chennai, has announced the pre-launch of their new residential project- Emami Tejomaya.

The project has opened booking at a pre-launch price of Rs. 4,000 per sq.ft. Is this price reasonable?

Here is the analysis:

The Product: Emami Tejomaya

Spanning over 8.35 acres of land, Emami Tejomaya offers 318 units of 2BHK, 3BHK and 4BHK apartments. The super built-up areas (SBUA) for the 2 BHK ranges from 1030 to 1128 sq.ft., for the 3 BHK ranges from 1465 to 1654 sq.ft. and for the 4 BHK is 1968 sq.ft. There will be 4 blocks with 2 Basement+Stilt+27 floors.

The USP of this project is 50,000 sq.ft. of delightful mangrove orchard.

The project also offers:

The Builder: Emami Realty

Emami Realty was incorporated in 2006, as a private limited company, to undertake real estate projects in residential, commercial and retail sectors. Since its inception, the group has successfully executed more than 24 residential and commercial construction projects, mainly in Kolkata.

How to Reach:

Located in Navallur, Chennai, Emami Tejomaya offers good connectivity to neighboring areas via extensive network of roads and railway. Also, the area is easily accessible via the Old Mahabalipuram Road (OMR) and Rajiv Gandhi IT Expressway.

Locational Advantages:

Infrastructure and Future Growth Prospects

The infrastructure in the area is fairly developed. Conveniently, located between Siruseri and Sholinganallur, the realty market is primarily driven by its proximity to these IT companies. SIPCOT IT Park, the largest Information Technology Park in Asia, located in Padur, Siruseri, is only 4 kilometer away from Navallur, while the ELCOT SEZ located in Sholinganallur is 10 kilometers away from Navallur.

Famous educational institutions located in the area are Agni College of Technology, Sri Venkateswara Dental College, TS Narayanaswami Arts and College and Mohammed Sathak AJ College of Engineering.

Cognizant Technology Solutions, HCL Technologies Limited, IBM, Polaris Software Labs, Hexaware, Global Analytics India Pvt Ltd are some of the famous IT companies located nearby.

Price/Location Comparison

The average locality price is Rs. 4,266 per sq.ft., whereas Emami Tejomaya priced its unit at Rs. 4,000 per sq.ft. which is reasonable in comparison to average locality price.

As per latest real estate data, the locality has witnessed a regular price appreciation in the last 6 months. In the Oct-Dec 2014 quarter, property prices increased by 2% while in Jan-Mar 2015 quarter, it rose by 8%.

Though the project is charging a premium, its location is better in Navallur as well as Emami brand name will ensure higher resale prices.

Here is a summary of how Emami Tejomaya performs on various parameters:

Overall Review:

Emami Tejomaya, Chennai seems to be a good investment option for both investors and end users due to its ready-made infrastructure. So, hurry up and book your apartment as soon as possible, as the BSP is only for a limited period offer and price will be increased anytime.

For more information about project visit PropTiger.com