Chennai Residential Real Estate Overview February 2012

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West Chennai Major Locations: Oragadam, Sriperumbudur, Poonamallee, Chennai-Bangalore Highway (NH-4), Chennai Bypass, Porur, Valasaravakkam, Ramapuram, Moggapair, Ambattur, Nolumbur, Ayanambakkam. Key Highlights: • An array of developers have forayed into the industrial belt of Oragadam, in order to tap the potential growth in the automotive sector. The region is witnessing the development of large integrated townships. • The Oragadam belt has a mix of products, meant to cater to the High Net Worth (HNW) segment and also the affordable housing segment. We expect a moderation in pricing and absorption levels of these lifestyle products, while the affordable housing segment is expected to remain fairly stable over a 12-month horizon. • Sriperumbudur has witnessed rapid industrial growth over the years, with major global players in the manufacturing segment venturing into the region. It's connectivity to the Chennai Port, improved infrastructure, the establishment of SEZs and Software Technology Parks (STP) have provided the necessary push to the growth of real estate in this region. • The projects in the affordable housing segment, with a price band of INR 2,200 psf-INR 2,700 psf are expected to hold their own in the coming quarters. • The region along Mount Poonamallee road and Porur is witnessing the infusion of fresh residential supply in the price band of INR 4,000 psf-INR 5,000 psf. The proximity to the CBD and excellent connectivity to the various industrial hubs is expected to drive growth in this region. We expect prices to remain stable in the coming months. • The 200 foot wide Chennai-Bypass road along the western corridor of Moggapair and Ayanambakkam is developing into a residential hub with prominent builders foraying into this region. Presence of social infrastructure, connectivity to the key arterial roads, proximity to the industrial belt of Ambattur and the developed neighbourhood of Anna Nagar is driving real estate activity in this belt. • The industrial belt of Ambattur is marked by the presence of smaller projects, catering to the surrounding end-user segment. The absorption levels are expected to remain fairly stable over a 12- month horizon. Growth Stimulators: • Sriperumbudur is strategically located along the Chennai-Bangalore Highway and is approximately 40 km from Chennai City. The availability of quality manpower, improved infrastructure and the presence of major manufacturing industries will continue to drive real estate prospects. The proposed Bangalore-Chennai expressway, the multi-modal logistics hub and the Greenfield Airport at Sriperumbudur will change the real estate dynamics of this region in the years ahead. • Oragadam is being developed as an industrial corridor with automobile majors foraying into this region. The improved infrastructure, presence of quality living spaces and connectivity to the city, would help this region evolve into a self-sustaining micromarket in the years ahead. 16
West Chennai Price Trends in West Chennai* 200 180 Sriperumbudur Porur Ramapuram Ambattur Mogappair Nolambur Avadi 160 Index 140 120 100 80 Jun 07 Dec 07 Jun 08 Dec 08 Jun 09 Dec-09 Jun 10 Nov-10 Jan-11 Mar-11 May 11 Jul-11 Sep-11 Oct -11 *Assuming 100 as a base for June '07 Source: ICICI Mortgage Valuation Group Residential Property Rates in Prime Residential Markets of West Chennai** Location Average Capital Values Rentals for 2 BHK (INR/sq.ft) (INR/month) Aminjikarai 7,000 12,000 Porur 4,800 8,000 Ambattur 4,000 10,000 Mogappair 6,000 12,000 Nolumbur 5,500 12,000 Avadi 2,800 5,000 Sriperumbudur 2,400 4,000 **Indicative mid market segment Source: ICICI Property Services Group Gemini Flyover 17
Page 1 and 2: Chennai Residential Real Estate Ove
Page 3 and 4: Executive Summary The Chennai Real
Page 5 and 6: Chennai Fact File Census 2011 Key H
Page 7 and 8: Infrastructure Chennai Metro Rail:
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Page 11 and 12: North Chennai Major Locations: Amin
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Page 15: South Chennai Residential Property
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Page 21 and 22: ANALYSTS DIRISH MOHAN Assistant Man
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Chennai Residential Real Estate Overview February 2012

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