Colorhomes Working Partners

HighWay widening work in progress

Date Posted | 14 OCT 2015
Source: The Hindu,
Published on 11th Oct 2015

Land acquisition on right track

Date Posted | 14 OCT 2015
Source: The Hindu,
Published on 27th Sep 2015

Union Cabinet may take up industrial corridor authority plan today

Date Posted | 13 OCT 2015
Source: ET Bureau,
Published on 16th Sep 2015

NEW DELHI:The Union Cabinet is likely to consider a proposal on Wednesday to setup the National Industrial Corridor Development Authority (NICDA) that would oversee the development of all economic corridors in the country.

With a corpus of around Rs 18,500 crore, the authority will supervise the implementation and coordination among the five industrial corridors in the works.

The proposal of a national authority for industrial corridors was made by finance minister Arun Jaitley in his budget when he had earmarked Rs 100 crore or the body.

The authority was to be located in Pune but latest thinking is that it should be in Delhi as industrial corridor projects require significant inter-ministerial coordination. The Department of Industrial Policy and Promotion(DIPP), which is the nodal department for the development of corridors, has suggested that the authority be headed by industry secretary Amitabh Kant and have a structure similar to that of the Delhi-Mumbai Industrial Corridor Development Corporation (DMICDC).

"There is a suggestion to subsume the DMICDC in the authority but that can be taken up only after a year because the Japan Bank for International Cooperation holds 26 per cent equity in the corporation", said an industry department official. The official added that even though the department has suggested DIPP secretary to head the authority, the Cabinet will finally decide if it would be headed by him or the economic affairs secretary.

Apart from DMIC, the government is implementing four other economic corridors—Chennai-Bengaluru Industrial Corridor, Vizag-Chennai Industrial Corridor, Bengaluru-Mumbai Economic Corridor and Amritsar-Kolkata Industrial Corridor—which are at various stages of development.

The DMIC covers the six states of Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra, while the AKIC will run through seven states of Punjab, Haryana, Uttar Pradesh, Uttarakhand,Bihar, Jharkhand and West Bengal.

The BMEC covers Karnataka and Maharashtra, the CBIC will run across Tamil Nadu, Karnataka and Andhra Pradesh and the VCIC is intended to run across Andhra Pradesh and Tamil Nadu.

Japan has announced financial support to an extent of $ 4.5 billion in the first phase of the DMIC, while JBIC's 26 percent equity share in DMICDC aggregates to Rs 26 crore. Similarly, the Japan International Cooperation Agency has been appointed as the nodal agency for implementation of Chennai-Bengaluru Industrial Corridor.

Chennai-Bengaluru industrial corridor to attract $181 billion

Date Posted | 12 OCT 2015
Source: TNN,
Published on 11th Sep 2015

The proposed Chennai-Bengaluru Industrial Corridor project would attract an investment of $181 billion and generate employment for 22 million skilled people over the next two decades. Of this, more than 2 lakh crore investments would come into Ponneri in North Chennai, said Japan International Cooperation Agency (JICA) deputy chief representative Ichiguchi Tomohide at a seminar on industrial corridors at the Global Investors Meet in the city on Thursday.

The corridor would attract investments in automotive, electronics, pharmaceuticals and petrochemical sectors. As Ponneri develops into an industrial city, more than 3.37 lakh people would be employed there, he said. JICA is involved in drawing up plans for the project. Krishnapatnam, a functional port city in Andhra Pradesh, and Tumkur near Bengaluru are the other cities that would develop as the corridor takes shape.

India has already overtaken China and Indonesia in attracting JICA investments, and among the Indian states, Andhra Pradesh, Tamil Nadu and Karnataka topped in JICA investments, said Tomohide. Speaking in a related event on infrastructure development at GIM, Mizuho Bank general manager Jun Kuroki said about 100 Japanese companies were coming into India every year. As regards the development of the proposed Chennai-Bengaluru industrial corridor, 41% of the project cost was being earmarked for land acquisition in Ponneri region, which could affect the project's viability, said Kuroki. About 5075 km distance along the corridor, both before and after Ponneri, would develop once the project took off, said additional chief secretary of industries department C V Sankar.

Upcoming aerospace park to see first entrant in January

Date Posted | 10 OCT 2015
Source: TNN,
Published on 11th Sep 2015

An upcoming aero space and defence park on the out skirts of Chennai will see its first entrant in January with VinMn, a start-up to make engines and components, setting up unit.

Tamil Nadu is setting up the aerospace park in Sriperumbudur-Oragadam, about 50km from the city. Nearly 12 aircraft component manufacturers have been given inprinciple clearance by the state government to set up units. They will now be allotted land. VinMn has been allocated 40 acre in the aerospace park.

"Ground clearing work is underway and we hope the government will complete the process by December. We will ground break in January," Venkatesh Chandrasekaran, CEO, VinMn Aerospace said.Funded by PE investors, VinMn is venturing into making of aerospace components and unmanned aerial vehicles by acquiring an auto-components precision manufacturing unit. Aerospace appears the next frontier for manufacturing companies in the state as it can supplement the ecosystem that services Bengalurubased Hindustan Aeronautics Ltd (HAL).

"Between Salem, Hosur and Chennai, we could be the biggest in aerospace vertical.We expect the size of business to be in the region of $10 billion in 10 years," Chandrasekaran said.

An association -- The Aerospace and Defence Industry Association of Tamil Nadu -- has been formed to lobby for the interests of TNbased companies in this sec tor. This body hopes to act as an interface and enabler in efforts to supply component parts for the RTA (Regional Transport Aircraft) project, which is a joint initiative of HAL and National Aer and National Aer ospace Laboratories. The basic version of the aircraft will have 80-90 seats (RTA-70).

"The three states of Tamil Nadu, Karnataka and Andhra Pradesh are the aero hub triangle in India and companies which are expected to come up in the aero park in the Sriperumbudur-Oragadum belt can look to develop components for the RTA," N Shekar, president of the association, said.

Drawing similarities between auto manufacturers and vendor units, Shekar said aircraft component manufacturing units located in the region could end up supplying various parts to the RTA.

"An end to end RTA programme would take about eight years to complete. It is a smaller aircraft and could cater to regional connectivity requirements," he said.

Investor-friendly contracts likely for eight expressways

Date Posted | 9 OCT 2015
Source: Rajat Arora, ET Bureau ,
Published on 14th Aug 2015

NEW DELHI: The government is set to pack new contracts to build expressways with investor-friendly clauses as it seeks to bring private sector interest back to a sector that can set the path for economic recovery. Authorities are working on a model concession agreement under World Bank assistance for eight expressway projects that the government plans to award, a senior transport ministry official said.

Under this, toll rates are expected to be more dynamic than now and the concession period as many as 30 years. The contractors will likely get more options to explore commercial utilisation of the stretches that they develop. The government hopes these measures will make the design-build-operate-transfer projects attractive to investors.

The government plans to build about 1,000 km of expressways at an estimated cost of Rs 16,680 crore under the National Highway Development Programme Phase VI.

"Expressways require specialised approach. Therefore, a separate MCA (model concession agreement) document for expressway is under preparation," the official said. "We're willing to give more leeway to concessioners in the form of better toll rates and concession period along with commercial exploration of stretches. All these steps would boost the investor confidence in the embattling sector," the official added. The government's target is to bring in private investment worth Rs 75,000 crore in the roads sector during the 12th plan. That will require some innovative approach as investor interest in the sector has weakened drastically since 2010 due to problems over land acquisition to getting various approvals and public opposition to toll collection. Though the government has ambitious plans to boost investments, projects worth just around Rs 6,000 crore could be awarded in 2014-15. The previous year, the value of projects awarded under public-private participation was less than Rs 1,000 crore, as stressed companies were unable to bring in funds.

"It is welcome to note that innovative mechanisms are being brought in the form of design, build, operate and transfer," said Jaijit Bhattacharya, partner at consultancy firm KPMG. "The new model mitigates the risks of the private sector concessionaire to a very large extent. This risk mitigation will clearly help in rejuvenating private participation in roads and will help attract more private capital to the sector."The expressway projects would be taken up under the existing framework of the ministry as the government has dropped UPA government's proposal to build an Expressway Authority of India.Based on the traffic intensity and commercial potential, the projects will be prioritised for awarding.

The corridors approved for development are Delhi-Chandigarh (249 km), Bengaluru-Chennai (334 km), Delhi-Jaipur (261 km), Delhi-Meerut (66 km), Kolkata-Dhanbad (277 km) on NH-2, Delhi-Agra (200 km), Vadodara-Mumbai (400 km) and the Eastern Peripheral Highway outside Delhi. Most of these will be concrete cement expressways. An express highway is a controlled-access highway, mostly 6-lane or above, where entrance and exit are controlled by the use of slip roads.

2015 Forecast

Date Posted | 15 JAN 2015
Source: The Hindu,
Property Plus published on 3rd Jan 2015

2015 Forecast Given the positive sentiments that prevail in the economy and these translating into increased demand for office spaces, there are expectations that the residential sector will witness an upward momentum in 2015. Higher demand for office spaces means that more employment will also be generated, which adds further to the number of home buyers.

The anticipated pick-up in demand should take place from the second half of 2015, though it could be earlier if interest rates are reduced or additional tax sops are announced in the budget. However, we can also expect to witness increased institutional purchases of large number of units by investment funds, who have been setting up dedicated funds to purchase units in bulk during their construction phase and off-load them once they are completed.
Developers too could increase the supply if the Government reduces the time taken for regulatory approvals, removes bottlenecks in the supply of raw materials, etc.

Realty sector welcomes decision

Date Posted | 14 JAN 2015
Source: The Hindu,
Property Plus published on 3rd Jan 2015

The recent decision of Government of India (GOI) to bring in an ordinance and amend Land Acquisition Act might have attracted a lot of political opposition. However, real estate sector organisations have welcomed the move. The amendment will fast track affordable housing projects, housing for poor, defence production, industrial corridors including PPP projects where land will remain with the Government. For the above projects, consent clause and social impact assessment has been waived-off. Earlier, the Act mandated minimum 70 per cent consent of land owners for PPP and 80 per cent for private projects.

“This is welcome move from the Government to hasten big projects and bring-in revenues. In fact, we already had put forward these demands with the GOI when the Act was being finalised. However, we also feel that private players should not be subjected to relief and resettlement of sellers,” says president, Confederation of Real Estate Developers Association of India (CREDAI), C. Sekhar Reddy.

In a statement, Mohit Goel, CEO of Omaxe Ltd., a real estate company, welcomed the move. “Removal of consent clause and social impact assessment for affordable housing is a positive move, which could speed up infrastructure development. The compensations have been kept intact and time bound acquisition has been ensured. Taking the ordinance route shows government’s intent,” he said.

Colorhomes Projects @ OMR

Date Posted | 30 DEC 2014
Source: Colorhomes

OMR is well connected to ECR and GST which are the two major arterial roads of Chennai to see the biggest IT boom with the increasing number of IT parks and very good connectivity to other parts of city there has been a massive demand for homes here. This is popularly called as the 'IT Corridor' because this stretch has become home to many IT/ITES companies.

The corridor, an ambitious six-lane project with service lanes and landscaping, is still in the making. The first phase — 20.1 km from Madhya Kailash junction in Adyar to Siruseri — was to have been opened by 2005. Plagued by delays, primarily due to problems in land acquisition, the stretch became operational in 2008. Feasibility studies are being conducted for phase 2 between Siruseri and Mahabalipuram.

Colorhomes currently has 7 prestigious projects at OMR which includes Color Castle,ColorFields,Elite Enclave,Color Fortuna,Color Gates,Color Berry and Color Vista.


Date Posted | 25 DEC 2014
Source: Colorhomes

Kanchipattinam is a 120 acre mega integrated new-age town near Chennai - Bangalore highway, just behind Meenakshi Medical College Hospital & Research Institute. Phase - I consists of 25.5 acres.

It is precisely engineered for new age lifestyle which combines a perfect composition of fun, entertainment, nature, sports, rejuvenation & fitness. Being a new age town it enjoys a perfect fusion of rich cultural heritage of Kanchipuram on one hand and the fastest developing, ultra-modern-becoming Chennai-Bangalore highway on the other hand thereby aligned for contemporary living retaining the traditional roots intact.

Chennai real estate market

Date Posted | 20 DEC 2014
Source: Colorhomes

Chennai is a flourishing market for real estate. It has witnessed massive growth and city expansion in a very short period. The very important aspect of Chennai is that it is a stable market compared to Bangalore and Hyderabad. Chennai is rapidly expanding beyond its city limits and the growth is rapidly seen across south Chennai, west and north west of Chennai. South Chennai is becoming the IT corridor covering OMR and GST. ECR is fast becoming the entertainment destination. The growth along the west of Chennai is largely driven by NH4 corridor- which is the becoming Detroit of India

Affordable Homes

Date Posted | 12 NOV 2014
Source: Colorhomes

Demand for housing in India and especially in Chennai is literally going through the roof. To cater to the increasing demand, Colorhomes offers housing solution - A Complete Solution to the Customer right from Conceptualizations- Design- Development - Maintenance. Colorhomes adopted an integrated design tools, best practices, methods, and technology in the real estate sector to meet the specific demand of affordable housing for the masses without compromising on quality.

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