Isha Homes' latest project Isha Mia Villas has been awarded Platinum pre-certification from the Indian Green Building Council (IGBC). This is a novel initiative in Tamil Nadu for a project to be pre-certified with a platinum rating by the IGBC for the green homes concept, according to a press release from the company. The 10-acre project at Pudupakkam, off the Old Mahabalipuram Road to the South of Chennai, with 106 independent villas will be set up at a total cost of 150 crore rupees. Each villa will be priced at a minimum of Rs 1 crore. Some of the eco-friendly facilities include solar panels in every villa to power a home during the day, and capacity to last up to four hours without sunlight; a windmill in the campus, as an additional renewable source of energy; adequate water supply with rainwater harvesting, along with a hydro-pneumatic water distribution system and a sewage treatment plant. Solid Waste from every home will be converted into manure. Isha Homes will offer its residents modern amenities and facilities like ATM and a departmental store within its campus for the convenience of its residents. CCTVs and solar fencing will add to the security.
An insight into real estate
Knight Frank India Pvt Ltd, a global property consultant has launched a database “eyestate” on the real estate market in seven major cities. Jointly developed by Knight Frank Research and Indicus Analytics, an economics research firm, the database will give information and analysis of the residential, commercial and retail real estate market in Mumbai, the National Capital Region, Kolkata, Bangalore, Hyderabad, Pune and Chennai. According to a press release from the property consultant, results show that 28 per cent of the properties under construction in the seven urban centres cater to households looking for homes within the Rs 35 lakh category. This product caters to the needs of approximately 80 per cent of the urban households. While market belief may give the assumption that most of this product would be absorbed as it is within the affordability criteria, this isn't the case. More than 44 per cent of these housing units are unsold today. The percentage of development in this segment ranges from approximately 17 per cent in Bangalore to approximately 47 per cent in Kolkata. But half the units are unsold in both these cities, in this segment perceived to be the most active. Eyestate will keep an eye on all current and upcoming residential, commercial and organised retail properties and the information will be updated quarterly. Eyestate is a Real Estate software for key industry players such as developers, banks, private equity funds, financial institutions and corporate houses.