Chennai’s George Town To Be Redeveloped Soon

Dec 21,2019 / By Prahalad Singh / No Comment

Chennai's George Town going to be redeveloped soon

Highlights:

Chennai Metropolitan Development Authority (CMDA) will launch a year-long survey to redevelop one of Chennai’s most densely populated and disorganized areas “Geroge Town”.
Most of the buildings in George Town have architectural violations and are not considered safe.
An initial survey conveyed by the Chennai Metropolitan Development Authority (CMDA) exposed that over 99% of the buildings in the town had violated the construction standards.
The Authority would analyze all major features of wider roads, public open spaces, better ventilation, improve physical and social infrastructural facilities to fulfill better living conditions in the city.
The Madras School of Economics will provide direction in the development of business and economic profile of the George Town area.
To start this project, an amount of Rs 40 lakhs was issued in the month of September and by March 2020 this project.

The city of Chennai could add one more feather to its cap as in a major announcement, the oldest quarters of Chennai, George Town is all set to be redeveloped soon. Chennai Metropolitan Development Authority (CMDA) will launch a year-long survey to redevelop one of Chennai’s most densely populated and disorganized areas.

An official from the housing and urban development department said the purpose of the study was to redevelop the area without displacing the local population.

The Authority would analyze all major features of wider roads, public open spaces, better ventilation, improve physical and social infrastructural facilities to fulfill better living conditions in the city. Apart from that, the authority will also survey the volume of sewage discharged by the households and the amount of water supply in the area.

In 2014, a survey was conducted by Chennai Corporation and found that of the 11,300 buildings on roads that are less than 9m wide, only 72 were constructed as per the planning permission. The report submitted to the Madras High Court said that more than 99% of buildings in George Town were constructed either without an approved plan or in violation of rules.

An initial survey conveyed by the Chennai Metropolitan Development Authority (CMDA) exposed that over 99% of the buildings in the town had violated the construction standards. Some of these do not even have the approved plan. The current survey conducted by the authority will principally focus on the repair of buildings in adherence to the Tamil Nadu Combined Development and Building Rules (TNCDBR).

Two locations from Chennai have been selected for the pilot project, 2nd being 151 hectares of Agaramthen Village which falls under the jurisdiction of St Thomas Panchayat Union.

Most of the buildings in George Town have architectural violations and are not considered safe.

More than 60% of the buildings in the area are over 50 years old. As a result, immediate consideration is required to assure safety.

The George Town area named for the pilot town planning scheme is surrounded by Wall Tax Road on the West, Basin Bridge Road on the North, North Fort Road and Periyar EVR Salai on the South, and Rajaji Salai on the East.

As per the 2nd Masterplan Land Use Map, the area preferred for the pilot project is listed under various land-use zones which include primary residential, mixed residential use zone, institutional and industrial use zones.

The Madras School of Economics will provide direction in the development of business and economic profile of the George Town area.

Sources said a business and economy profile of George Town will be made to identify town planning interventions needed for business growth and expansion.

This may add the development of a logistics park or a financial hub to provide banking, insurance, and legal sectors.

The research was previously approved by CMDA to form guidelines and unfold effective means to implement redevelopment projects in Chennai Metropolitan Area.

The guidelines are usually for the area redevelopment which includes demolition and reconstruction of private and government properties including reconstitution of plot and better circulation by means of new roads.

On 30th November 2019, for the development of George Town, as a part of the pilot local area plan and implementation of the pilot town planning scheme at Agaramthen Village under Atal Mission for Rejuvenation and Urban Transformation (AMRUT), the center has approved an amount of Rs 2 crore.

It must be considered that 150 hectares in George Town would be redeveloped and the town planning scheme would be implemented in 151 hectares of Agaramthen. To start this project, an amount of Rs 40 lakhs was issued in the month of September and by March 2020 this project would be completed.

Chennai is among the 25 cities selected for the above-said pilot project. As TUFIDCO has not issued the funds to CMDA or Chennai Metropolitan Development Authority which is the nodal agency, the funds issued by the center is yet to be utilized.

About George Town:

In 1911, during the colonial period, the area in and around Muthialpet in Madras was renamed as George Town by the British. In honor of King George V when he was honored Emperor Town make larger approximately from Chennai Central railway station and People’s Park in the west to the Bay of Bengal in the east. To the north is Basin Bridge and Royapuram while Fort St George bounds it on the South

Image source: New Indian Express

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TNRERA Directs New Chennai Township To Refund Buyer’s Money

Oct 30,2019 / By Prahalad Singh / No Comment

Chennai: Can residential projects sold through lease deeds come under the ambit of the real estate act?

The Tamil Nadu Real Estate Regulatory Authority (TNRERA) has entertained an application over a leased property, ordering the developer to return the payment of a homebuyer as the project reminds a non-starter.

The case concerns a project called ‘UTSAV’, contracted by New Chennai Township Pvt Ltd at Vellur in Cheyyur Taluk of Kancheepuram District. In a recent order, G Saravanan, an adjudicating officer of TNRERA, said R Thenmozhi and S Sriram booked a flat and paid an advance for it in February 2011. The developer had made a lease deed in support of the complainants for leasing a flat for a period of 99 years that was to be built by the former. While the total lease fee was Rs 16.69 lakh, the homebuyers had paid Rs 12.82 lakh. The possession of the flat was set within 3-months from the date of receipt of the entire lease amount, as per the deed that was registered a year later in 2012. Though 80% of the total fee of the lease value of the flat was paid, the order stated that the developer neither started construction work nor handed over the possession of the apartment so far.

The complainants circulated a notice in 2016 to cancel the lease deed and asked for a refund of the entire amount with interest. But, the developer failed to repay the amount. The complainants have taken bank loans to make their payments, who are allowed to relief,” the order added.

As per the order, the complainants are entitled to return of Rs 12.82 lakh with interest at the rate of 10.15% for the amount paid from the date of payment till repayment by the developer. The order further stated that “considering the facts and circumstances of the case, Rs 1 lakh is fixed as compensation towards mental agony and inconvenience caused to the complainants by the developer”. Towards registration and litigation expenses, Rs 16,790 and Rs 20,000 respectively have been given.

TNRERA also ordered the developer to refund the amount, interest, compensation and costs within 60 days. The order further added, “The complainants shall execute the cancellation of lease deed on the satisfaction of their claims at the cost of the developer”.

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Top 10 Richest Realty Developers of India

Jun 5,2019 / By Prahalad Singh / No Comment

Top 10 Real Estate Tycoons: India

The real estate sector is one of the most acknowledged sectors in the world. It consists of 4 sub-sectors namely housing, hospitality, commercial, and retail. The growth of this sector is well supported by the growth of the corporate setting and the demand for office space as well as urban and semi-urban housing.
At the same time, it is expected that this sector will incur more non-resident Indian (NRI) investment in both the short and long term. Bengaluru is expected to be the most preferred property investment address for NRIs, followed by Ahmedabad, Pune, Hyderabad, Chennai, Delhi/NCR, and Goa.

India is home to almost 245,000 capitalists, according to the latest report, and the number is assumed to touch 372,000 by 2022. Furthermore, India’s wealth growth of $451 billion signifies the 8th largest wealth gainer world-wide by country.

From a city-wise aspect, Mumbai is the most favored city of residence for the real estate capitalists with the city being home to 35 of them, followed by Delhi (22) and Bengaluru (21) and Pune which is home to 5 of the richest 100 realtors.

Here is the list of top 10 richest Indian Real Estate Builders as per Grohe Hurun India real estate rich list 2018

1) Mangal Prabhat Lodha: Lodha Group, Mumbai: Rs 27,150 crore

Mangal Prabhat Lodha, 62, with a net worth of Rs 27,150 crore, who is also a senior BJP leader is the richest real estate developer in the country. He laid the foundation of the Lodha Group. Lodha group is currently developing One Grosvenor Square, which is a premier property and home to the former Canadian embassy. He is followed by Jitendra Virwani of the Bengaluru-based Embassy Group with a total wealth of Rs.23,460 crore in 2018.

The city-based Lodha was at the second position last year with a wealth of Rs 18,610 crore, while DLF’s Kushal Pal Singh, who had topped the list last year with a wealth of Rs 23,460 crore, does not figure in the year’s top 10 list. However, his son Rajiv Singh comes third with a wealth of Rs 17,690 crore Lodha this year.

Residential Ongoing Projects: The Park, Amara, Upper Thane, World View, Lodha Venezia, Codename Smartmove, Lodha Seamount, Lodha Bel Air, Lodha Primo, Lodha Sterling, Lodha Altia, Codename Golden Ticket, Lodha Parkside, Lodha Marquise, Lodha Kiara, Lodha Panacea, Lodha Belmondo, Trump Tower Mumbai, Lodha Allura, Codename MoveUp, Casa Viva, Lodha Eternis, Lodha Splendora, The Reserve, and Codename Bullseye.

Residential Completed Projects: Lodha Fiorenza, Codename Golden Dream, World One, Lodha Evoq, Lodha Splendora, World Crest, The Reserve, Lodha Estrella, and Lodha Bellezza.

Commercial Projects: Lodha Supremus, Andheri, One Lodha Place, Lodha Supremus, Thane, iThink by Lodha, Thane, iThink by Lodha Palava, and Lodha Excelus New Cuffe Parade.

Retail: Xperia Mall, Palava.

Industrial Park: Palava.

2) Jitendra Virwani: Embassy Group, Bengaluru: Rs 23,160 crore

Jitendra Virwani, 52, is considered South India’s largest office space landlord with a fortune of Rs 16,700 crore. He is currently the chairman of the Embassy group and has been a pioneer in building industrial parks and warehousing spaces. He owns the Stone Hill International School, one of India’s largest privately owned academies. He is also a member of the equestrian federation of India.

Residential Ongoing Projects: Embassy Edge, Four Seasons Private Residences, Embassy Lake Terraces, Embassy Grove, Embassy Springs, and Embassy Residency.

Residential Completed Projects: Embassy Boulevard, Embassy Pristine, KCN Mansion, The Embassy, Embassy Oasis, Embassy Woods, Embassy Tranquil, Embassy Place, Embassy Palace, Embassy Orchid, Embassy Meadows, Embassy Highstreet, Embassy Heritage, Embassy Habitat, Embassy Grace, Embassy Espana, Embassy Eros, Embassy Crown, Embassy Court, Embassy Corner, and Embassy Casabella.

Ongoing Commercial Projects: Embassy Golflinks Business Park, Embassy Manyata Business Park, Embassy Techvillage, Embassy Knowledge Park, Embassy Tech Zone, Embassy Taurus Techzone, Trivandrum, Embassy Splendid Techzone, Chennai, and Phoenix Embassy.

Completed commercial Projects: Kirloskar Business Park, Embassy Square, Embassy Icon, Embassy Diamante, Embassy Galaxy, Embassy Point, Embassy Icon Annexe, Embassy Prime, Embassy Star, Embassy Paragon, Embassy Classic, and Embassy Chambers.

Ongoing Industrial Parks: Embassy Industrial Park, Hosur, Embassy Industrial Parks, Kolkata, Embassy Industrial Parks, Farukhnagar, Embassy Industrial Parks, Bilaspur, Embassy Parks, Sriperumbudur, and Embassy Industrial Parks, Chakan, Pune.

Ongoing Hospitality Projects: Hilton Hotels and Resorts & Hilton Garden Inn and Four Seasons Hotel.

Completed Hospitality Projects: Lounge Hospitality, Hilton Bangalore Embassy Golf Links, BLVD Club, and Le Meridien Bangalore.

Ongoing Integrated Township: Embassy Springs and Embassy Residency

Ongoing Retail Projects: Embassy Mall

Completed Retail Projects: Victoria Embassy

Completed Educational Projects: Embassy International Riding School and Stonehill International School.

3) Rajiv Singh: DLF Limited, New Delhi: Rs 17,690 crore

Rajiv Singh, 33, is an Executive Vice Chairman of the Board of DLF Limited. He is currently the richest real estate rival in India, ranked 3rd in the list with a wealth of Rs 17,690 crore. The owner of Delhi Land and Finance (DLF) is one of the largest real estate developers, who is a pathfinder in developing Gurugram the leading Financial and Industrial Hub in the country. The only real estate company that collected the largest IPO and developed 27 million sq.ft to date. It can be noted that senior Kushal Pal Singh has moved out of daily operations of DLF and has transferred his shares to his son Rajiv and daughter Piya. Now, Rajiv Singh has taken the position of Kushal Pal Singh and operating the company.

Ongoing Residential Projects: DLF The Crest, DLF Garden City Plot, DLF Park Place, and DLF Garden City.

Completed Residential Projects: DLF The Skycourt, DLF The Primus, DLF New Town Heights, Kolkata, DLF Ultima,, DLF The Summit, DLF Bella Greens, DLF Exclusive Floors, DLF Westend Heights, DLF Carlton Estate, DLF Royalton Towers, DLF Trinity Towers, DLF The Belaire, DLF Westend Heights New Town, DLF Park Place, DLF Princeton Estate, DLF Wellington Estate, DLF Ph-5, DLF New Town Heights, Kakkanad, Kochi, DLF Regal Gardens, DLF Valley Plots, DLF Kings Court, DLF Hyde Park Bungalows, DLF Woodland Heights at My Town, DLF Garden City, Indore, DLF Commanders Court, DLF Hyde Park Terraces, DLF Select Homes, DLF Hyde Parks, Mohali, DLF Gardencity, Chennai, DLF Garden City Plots, Gurgaon, DLF New Town Heights, Gurgaon, DLF Belvedere Tower, DLF Park Place, Jalandhar, DLF Belvedere Park, Gurgaon, DLF valley, Panchkula, DLF Garden City, Lucknow, DLF Express Greens, Gurgaon, DLF Kings Court Villa, Delhi, DLF Chisholm Apartments, Gurgaon, DLF Richmond Park, Gurgaon, DLF Maiden Heights at My Town, Bangalore, DLF Magnolias, Gurgaon, DLF Queens Court, Delhi, DLF Oakwood Estate, Gurgaon, DLF The Icon, Gurgaon, DLF Silver Oaks, Gurgaon, DLF Regency Park, Gurgaon, DLF Windsor Court, Gurgaon, DLF Regency Park-2, Gurgaon, DLF Beverly Park, Gurgaon, DLF Pinnacle, Gurgaon, DLF Hamilton Court, Gurgaon, DLF The Aralias, Gurgaon, DLF Beverly Park-2, Gurgaon, DLF Hyde Park Plot, Mohali, DLF Ridgewood Estate, Gurgaon, DLF Alameda, Gurgaon, DLF Colony Old, Gurgaon, DLF Phase-3, Gurgaon, DLF Capital Green Ph-3, Delhi, DLF Capital Green Ph-1, Delhi, DLF Capital Green Ph-2, Delhi, DLF Garden City, Hyderabad, DLF Phase-2, Gurgaon, DLF Ph-1, Gurgaon, DLF Phase-4, Gurgaon,

4) Chandru Lachmandas Raheja: K Raheja Corp, Mumbai: Rs 14,420 crore

Chandru Lachmandas Raheja, 78, manages the privately-owned commercial developer in Mumbai with a wealth of Rs 14420 crore. K Raheja Corp has holdings of fully leased 20 million sq.ft office spaces across Mumbai, Navi Mumbai, Hyderabad, and Pune. K Raheja Corp developed the first planned suburban business park, Mindspace, in Mumbai’s Malad suburb.

Ongoing Residential Projects: Artesia-Mumbai, Vivarea-Mumbai, Vistas premiere-Pune, Viva-Pune, and Vistas-Hyderabad.

Completed Residential Projects: Viva-Goa, Quiescent Heights-Hyderabad, and Vistas-Mumbai.

Completed Commercial Projects: Mindspace IT Park-Malad, Mindspace SEZ & IT Park-Airoli East, Mindspace SEZ & IT Park-Airoli West, Mindspace SEZ & IT Park-Juinagar, Mumbai, Commerzone IT Park-Yerawada, Mindspace SEZ & IT Park-Bengaluru, Gera Commerzone SEZ & IT Park-Kharadi, Pune, Mindspace SEZ & IT Park-Madhapur, Hyderabad, Mindspace SEZ & IT Park-Pocharam, Hyderabad, Mindspace SEZ & IT Park-Shamshabad, Hyderabad, Commerzone Knowledge City (SEZ & IT Park)-Hyderabad, Commerzone IT Park, Porur-Chennai, Commerzone IT Park, Pallikaranai-Chennai, and Mindspace SEZ & IT Park-Gandhinagar, Gujarat.

Completed Hospitality Projects: Chalet Hotels-Renaissance, Mumbai, Lakeside Chalet, Marriott Executive Apartments, Mumbai, Four Points By Sheraton Navi Mumbai, Vashi, The Westin Hyderabad Mindspace, Inorbit Mall, Whitefield, Bengaluru, Bengaluru Marriott Hotel Whitefield, Whitefield Bengaluru – Commercial, JW Marriott Mumbai, Sahar, and The Orb Retail, Sahar And Business Centre And Office, Sahar, Mumbai.

Groups Hotels: The Resort, Madh-Marve-Mumbai, and J W Marriott Juhu.

Retails: Shoppers Stop, and Crossword.

Shopping Malls: Inorbit-Malad.

5) Vikas Oberoi: Oberoi Realty, Mumbai: Rs 10,980 crore

Vikas Oberoi, 48, who runs the Oberoi Realty, has a capital of Rs 10,980 crore. He took the controls of the company begun by his father Ranvir Oberoi. His corporate policy and diversification plan have seen huge growth for Oberoi Realty in nine folds with a net profit of 40%. Under his leadership, the company has developed 22 million sq.ft in progress and brands such as Ritz Carlton.

Ongoing Residential Projects: Sky City-Borivali East, Enigma, and Eternia in Mulund West, and Three Sixty West in Worli.

Completed Residential Projects: Oberoi Splendor, Splendor Grande, and Prisma in Andheri East, Oberoi Sky Gardens, Sky Heights, and Springs in Andheri West, Oberoi Esquire, Exquisite, Seven, and Woods in Goregaon East, Oberoi Beachwood House-Juhu, Oberoi Gardens, and Parkview in Kandivali East, Oberoi Crest-Khar, Priviera-Santacruz West,

Completed Commercial Projects: Oberoi Chambers in Andheri West, and Commerz and Commerz II in Goregaon East.

Completed Retail Project: Oberoi Mall in Goregaon East.

Completed Social Infrastructure: Oberoi International School – JVLR Campus, and Oberoi International School – OGC Campus.

Completed Hospitality Projects: The Westin Mumbai Garden City, Goregaon East.

6) Niranjan Hiranandani: Hiranandani, Mumbai: Rs 7880 crore each

Niranjan Hiranandani, along with his brother Surendra Hiranandani, established the Hiranandani group in the late 1970s by. The Mumbai-based developer has presence across commercial, residential, hospitality and education segments. The group is one of the early developer’s to undertake township development projects, such as Hiranandani Gardens in Powai and Hiranandani Meadows and Hiranandani Estate in Thane.

Ongoing Residential Projects: Hiranandani Lake Enclave-Thane, Hiranandani Glenwood-Thane West, Hiranandani Glenridge-Thane West, Hiranandani Eagleridge Wing B-Thane West, Hiranandani Eagleridge Wing A-Thane West, Hiranandani Flamingo-Thane West, Hiranandani Barca-Thane West, Hiranandani Athena-Thane West, Hiranandani Eagleton-Thane West, Hiranandani Pelican-Thane West, Hiranandani Castle Rock A, and B Wing-Powai, Hiranandani Castle Rock C and D Wing-Powai, Hiranandani Obelia B-Thane West, Hiranandani Fortuna B-Thane West, Hiranandani Solitaire C-Thane West, Hiranandani Obelia A-Thane West, Hiranandani Barrington-Thane West, Hiranandani Preston-Thane West, Hiranandani Clifton-Thane West, Hiranandani Fairway-Thane West, Hiranandani Glendale-Thane West, Hiranandani Cloverdale-Thane West, Hiranandani Willowcrest-Thane West, Hiranandani Solitaire B-Thane West, Hiranandani Atlantis A And B Wing-Powai, Hiranandani Atlantis C Wing-Powai, Hiranandani Hampton-Thane West, Hiranandani Waldorf-Thane West, Hiranandani Senina-Thane West, Hiranandani Gardens Florentine-Powai, Hiranandani Gardens Lake Castle-Powai, Hiranandani Gardens Tulip-Powai, Hiranandani Canosa-Thane West, Hiranandani Park Plaza A-Thane West, Hiranandani Polaris-Thane West, Hiranandani Leonardo-Thane West, Hiranandani Gardens Birchwood-Powai, Hiranandani Gardens Odyssey II-Powai, Hiranandani Gardens Odyssey I-Powai, Hiranandani Oyster-Thane West, Hiranandani Casa Marina CHS-Thane West, Hiranandani Greenwich-Thane West, Hiranandani Capri-Thane West, Hiranandani Carrara Apartment-Thane West, Hiranandani Phoenix-Thane West, Hiranandani Villa Royale-Thane West, Hiranandani Palladio CHS-Thane West, Hiranandani Crown-Thane West, Hiranandani Caviana-Thane West, Hiranandani Princeton CHS-Thane West, Hiranandani Northside-Thane West, Hiranandani Estate Penrose-Thane West, Hiranandani Shree Sarnam-Thane West, Hiranandani Garden Eternia-Powai, Hiranandani Valentina-Thane West, Hiranandani Greenwood-Thane West, Hiranandani Fedora-Thane West, Hiranandani Chelsea-Thane West, Hiranandani Fiona-Thane West, Hiranandani Srushti CHS-Thane West, Hiranandani Penrith-Thane West, Hiranandani Garden Eldora-Powai, Hiranandani Glen Croft-Powai, Hiranandani The Walk-Thane West, Hiranandani Maple A B and C Wing-Powai, Hiranandani Flora-Panvel, Hiranandani Orion-Panvel, Hiranandani Selene-Panvel, Hiranandani Artemis-Panvel, Hiranandani Zeus-Panvel, Hiranandani Hera-Panvel, Hiranandani Venus-Panvel, Hiranandani Vesta-Panvel, Hiranandani Aura-Panvel, Hiranandani Atlas-Panvel, Hiranandani Minerva-Panvel, Hiranandani Clio-Panvel, Hiranandani Mellona-Panvel, Hiranandani Helios-Panvel, Hiranandani Argus-Panvel, Hiranandani Aurora-Panvel, Hiranandani Hermes-Panvel, Hiranandani Nebula-Andheri West, Hiranandani Regent Hill-Powai,

Completed Residential Projects: Hiranandani Gardens-Powai, Hiranandani Estate-Thane West, Hiranandani Rodas Enclave-Thane West, Hiranandani The Walk-Thane West, Hiranandani Cardinal-Thane West, Hiranandani Lavinia-Thane West, Hiranandani Canary-Thane West, Hiranandani Crystal Court Co-Operative Housing Society-Kharghar, Hiranandani Meridian-Thane West, Hiranandani Estate Brentford-Thane West, Hiranandani Villa Grand-Thane West, Hiranandani Estate Hill Grange-Thane West, Hiranandani Woodrose-Thane West, Hiranandani Casa Blanca-Thane West, Hiranandani Evelina-Thane West, Hiranandani Arlington-Thane West, Hiranandani Acacia-Thane West, Hiranandani Tiara-Thane West, Hiranandani Estate Queens Gate-Thane West, Hiranandani Meadows-Thane West, Hiranandani Paloma-Thane West, Hiranandani Astra-Thane West, Hiranandani Brookhill-Thane West, Hiranandani Tribeca-Thane West, Hiranandani Brentwood-Powai, Hiranandani Evita-Powai, Hiranandani Seawood-Navallur, Chennai, Hiranandani Garden Eden IV-Powai, Hiranandani Avalon-Powai, Hiranandani Glen Dale-Thane West, Hiranandani Gardens Glen Ridge-Powai, Hiranandani Maitri Park-Chembur, Hiranandani Loftline Plot-Shankarpalli, Hyderabad, Hiranandani Heritage-Kandivali West, and Hiranandani Castalia-Thane West.

Ongoing Commercial Projects: Hiranandani Business Park-Thane, and Hiranandani Solus-Thane.

Completed Commercial Projects: Hiranandani Zenia-Thane.

Health Care: Dr. L H Hiranandani Hospital-Powai.

Educational Institutions: Hiranandani Foundation School-Powai, and HFS International-Powai, and Hiranandani Foundation School-Thane.

Hospitality: Meluha-The Fern-Powai, and Rodas-An Ecotel Hotel-Powai.

7) Surendra Hiranandani: Hiranandani, Singapore: Rs 7880 crore each

All residential, commercial, Hospitality, Educational, Retail, and health-care projects are mentioned above will be the same for Surendra Hiranandani.

8) Ajay Piramal & Family: Piramal Realty, Mumbai: Rs 6,380 crore

Ajay Piramal, 62, who leads the Piramal Group, has a fortune of Rs 6,380 crore. He grew the textile business to a conglomerate with diversified business interest. His corporate policy and reshaping plan have seen huge growth for Piramal Realty. Under his guidance, the company has developed over 10 million sq.ft. This company has developed India’s first mall, Crossroads, at South Mumbai.

Ongoing Residential Projects: Piramal Revanta Tower 1-Mulund West, Piramal Vaikunth Cluster 4A-Thane West, Piramal Revanta-Mulund West, Piramal Vaikunth Cluster 4-Thane West, Piramal Vaikunth Cluster 2-Thane West, Piramal Vaikunth Cluster 1-Thane West, Piramal Mahalaxmi Central Tower 2-Mahalaxmi, Mumbai, Piramal Mahalaxmi-Mahalaxmi, Mumbai, Piramal Revanta Tower 3 And 4-Mulund West, Piramal Revanta Tower 2-Mulund West, Piramal Aranya Wing C-Byculla, Mumbai, Piramal Aranya Arav Tower-Byculla, Mumbai, and Piramal Aranya Wing A-Byculla, Mumbai.

9) Manoj Menda: RMZ Corp Holdings Private Limited, Bengaluru: Rs.5900 crore

Manoj Menda is the company’s Co-Owner, Co-Founder and Corporate Chairman. He manages the company’s projects, including policy development, capital allocation, portfolio management, growth, and partnership development. He acts on the Investment and Advisory Committees of all RMZ private fund plans.

Ongoing Residential Projects: RMZ Azure-Hebbal, Bangalore

Completed Residential Projects: RMZ Galleria-Yelahanka, Bangalore, RMZ Sawaan-Bangalore near Yelahanka, Bangalore, RMZ Latitude-Hebbal, Bangalore, RMZ Woodsvale-Frazer Town, Bangalore,

Commercial Projects: RMZ Ecoworld-Bellandur, Bangalore, RMZ Ecoworld Series 20-Bellandur, Bangalore, RMZ Ecoworld Series 30-Bellandur, Bangalore, RMZ Ecospace – Marathahalli – Sarjapur Outer Ring Road, Bangalore, The Millenia-Ulsoor, Bangalore, RMZ Infinity-Old Madras Road, Bangalore, RMZ NXT-Whitefield, Bangalore, RMZ Centennial-Whitefield, Bangalore, RMZ Millenia Business Park-Chennai, One Paramount-Chennai, RMZ Washington-Chennai, The Skyview-Hyderabad, RMZ Nexity-Hyderabad, and RMZ Infinity-Gurgaon.

10) Raj Menda: RMZ Corp Holdings Private Limited, Bengaluru: Rs.5900

Mr. Raj Menda is the Co-owner & Founder of RMZ Corp, a leading commercial and residential real estate firm in India. He has been remodeling RMZ Corp into a progressive, ambitious and customer-driven company. As the Chief Administrator of RMZ Corp, his duties include managing the company’s performance, forming business plans and strategies, defining the field of the company, initiating business aims, developing new businesses, forecasting and analyzing investment for projects.

All ongoing and completed residential as well as commercial projects mentioned above will be the same for Raj Menda.

GROHE Hurun India Real Estate Rich List 2018 by city:

Rank	City	No of Individuals	Richest Individual	Net Worth (Rs-Crore)
1	Mumbai	35	Mangal Prabhat Lodha	27,150
2	New Delhi	22	Rajiv Singh	17,690
3	Bangalore	21	Jitendra Virwani	23,160
4	Pune	5	Atul Chordia	1,810
5	Hyderabad	4	Rameshwar Rao Jupally	3,370
6	Noida	2	RK Arora	510
6	Chennai	2	M Arun Kumar, KR Anerudan	680
6	Gurgaon	2	Roop Kr Bansal	1,990
6	Cochin	2	KV Abdul Azeez & Family	650
10	Kolkata	1	Harshvardhan Neotia & Family	1,880
10	Thane	1	Shailesh Puranik and family	370
10	Ahmedabad	1	Gautam Adani and family	2,720

Data source: Hurun Research Institute 2018. GROHE Hurun India Real Estate Rich List 2018

Top Property Developers in Residential Category 2018:

Rank	Name	Company	Net Worth (Cr)	City of Residence
1	Mangal Prabhat Lodha	Lodha Group	27,150	Mumbai
2	Vikas Oberoi	Oberoi Realty	10,980	Mumbai
3	Surendra Hiranandani	Hiranandani	7,880	Singapore
3	Niranjan Hiranandani	Hiranandani	7,880	Mumbai
5	Ajay Piramal and family	Piramal Realty	6,380	Mumbai

Data source:

GROHE Hurun India Real Estate Rich List 2018

The Biggest Real Estate Gainers in 2018:

No	Name	Wealth (Cr)	% Change	Company	Segment
1	Manoj Menda	5,900	122%	RMZ	Commercial
2	Raj Menda	5,900	122%	RMZ	Commercial
3	Ajay Piramal & Family	6,380	75%	Piramal Realty	Residential
4	Harshavardhan Neotia and family	1,880	66%	Ambuja Neotia	Residential
5	Jude Romell and Dominic Romell	720	61%	Romell Real Estate	Commercial
6	Sunil Mittal and family	1,230	54%	Bharti Realty	Commercial
7	Boman Rustom Irani	1,150	52%	Keystone Realtors	Residential
8	Percy Sorabji Chowdhry	580	52%	Keystone Realtors	Residential
9	Chandresh Dinesh Mehta	580	52%	Keystone Realtors	Residential
10	Jitendra Virwani	23,160	39%	Embassy	Commercial

Data Source: GROHE Hurun India Real Estate Rich List 2018

Disclaimer: the data provided here is based on industry and news reports. CommonFloor will not be held legally responsible for any actions taken based on the information provided.

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List of approved projects and agents – Tamilnadu RERA

Apr 10,2019 / By Prahalad Singh / No Comment

Tamilnadu RERA

Tamil Nadu has been one of the most active states in the implementation of the Real Estate (Regulation and Development) Act 2016 (RERA) rules.

Tamil Nadu RERA Rules were notified on June 22, 2017. Exclusion/inclusion of projects for registration will depend on whether they lie within the Chennai Metropolitan Area (CMA) or outside the CMA, among other factors.

The state govt has not yet appointed a permanent regulator. The Secretary, Housing and Urban Development Department has been appointed as an interim regulator.

As per the Tamil Nadu RERA website, 940 real estate projects along with 498 real estate agents have been successfully registered under the act till date.

List of approved agents for Tamil Nadu RERA: Click here to view

List of approved projects for Tamil Nadu RERA: Click here to view

Irrespective of these proved projects/agents, RERA has rejected several real estate projects as well. As of now, they have rejected 18 real estate projects in 2017 and 2 projects in 2018.

Similarly, registration withdrawn for several reasons by 9 developers in 2017 and 1 in 2018.

Moreover, the regulatory authority has also passed judgment for 5 complaints out of 129 received till date.

Tamilnadu RERA updates:

Real estate appellate tribunal rules framed in Tamilnadu. The regulations would be applicable for Tamil Nadu and the Union Territories of Andaman and Nicobar Islands and Puducherry. As per the regulations, every petition or appeal filed before the tribunal should either be in English or should be accompanied by a copy of English translation.