Contrary to popular assumption rentals for residences have gone up substantially in the last one year.
If you think that leasing residential houses and apartments are not profitable enough
Opponents say a mix of retail, apartments, hotels and offices, rather than the huge office towers is what is needed.
The first phase of construction, to be completed by June 2011, would have 400 sq ft flats priced at Rs 5,00,000.
The Dasve Valley project is spread over 30 acres, of which 7.5 acres will be used for building 250 villas & 250 apartments.
Tamil Nadu Housing Board is developing high-end apartments over 70 acres barely a kilometre from Marina Beach.
The recession caused a dramatic slowdown in new building permits, but sales volumes and prices have held steady in the country.
Priced at Rs 3,800, per sq ft, the project will offer a wide choice of two, three and four-bedroom apartments spread across five towers.
Merlin Jasmine, coming up in Kolkata, to have two G+3 storeyed towers.
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