DLF Limited, India’s largest listed real estate company, today announced the launch of Chennai’s first-of-its-kind, nature inspired, theme based plotted development, Parc Estate off the Old Mahabalipuram Road. It offers 1,500 plots spread over an area of approximately 85 acres’ with plot sizes ranging from 600 sqft. to 4000 sqft., with an approximate price of INR 3500 psf.
Commenting on occasion, Aakash Ohri, Group Executive Director and Chief Business Officer said, “With a significant presence in the southern part of India over the last two decades, DLF has catalyzed Chennai’s growth as an IT destination by offering a global ecosystem, future-ready workspaces, and safe and secure residential developments. Chennai has maintained steady growth in terms of infrastructure, connectivity and urban facilities and emerged as a major residential market where buyers can invest with confidence. We have a seventy five-year track record of successful ventures and can gauge the immense potential of investing in a residential plot-based project in Chennai. For us, Chennai has emerged as a strategic market in the south of India, and this will be the first of many residential launches coming up in the future. And we are here to stay. Apart from being an auto manufacturing hub, an increasing penetration of the IT/ITES industry has led to an influx of a younger population looking to invest in real estate.”
Parc Estate will offer a lifestyle close to nature, with four kinds of landscaped parks spread across the estate. Residents can enjoy Serene Parks for peace and tranquillity; Fitness Parks, which will be generously equipped with requisite equipment for fitness in the open air; Recreational Parks, which will be perfect for picnics and family outings; and Social Parks, designed to host a gathering of the entire community, for festivals, celebrations, fairs and fetes. Every house will be within walking distance of a verdant space.
The project is planned with over a thousand trees, parks adorned with flower beds and shrubs, walking and jogging tracks, an organic farm, fruit orchards, a nature trail, herbal gardens, a yoga pavilion and outdoor yoga lawns, an aerobic deck, aroma gardens, pet parks and several water bodies. For the sports enthusiast, there will be several outdoor exercise areas, a futsal court, cricket net practice areas and multiple children’s play area. Many seating pods will be spread across the estate. The project is in close proximity to a forest reserve spread over 12 lakh square metres and four natural lakes.
Talking about the project Mr. P Ramakrishnan, Group Executive Director and Chief Technical Officer said, “We first analysed the buyer behaviour in Chennai and found that people here prefer buying a piece of land as against other forms of investment. They appreciate greenery and enjoy hobbies like gardening. As far as the location of Parc Estate is concerned, Old Mahabalipuram Road is witnessing rapid infrastructural development, making it the perfect site, close to the growth corridor of Chennai.”
Sustainability is a core concept that will be put into practice with facilities like organic waste management, water recycling, an efficient drainage system, solar powered street lights and 11 wells available for regular water supply to residents. DLF will also build wide internal roads that will connect Parc Estate with two major entry points, Pudupakkam Road and MR Radha Road. In terms of facilities, Parc Estate is in close proximity to a prominent school within walking distance for kids, a supermarket for daily needs, and a short drive away from shopping destinations, colleges and hospitals.
OMR is expected to see many infrastructure projects, adding to the future value of the investment. These include the Metro Rail Corridor Phase II, multiple flyovers to ease the traffic flow, a multi-deck elevated transport corridor along the Old Mahabalipuram Road and multiple road-widening initiatives.
DLF’s offering in the OMR region will serve the objective of giving residents a permanent address in the most sought-after upcoming neighbourhood in this part of the city. The company is geared up to mirror its excellence and performance in this emerging market by unlocking myriad opportunities for real estate development just like it did in Delhi NCR.
About DLF Ltd:
DLF is India’s leading real estate developer and has more than seven decades of track record of sustained growth, customer satisfaction, and innovation. DLF has developed 153 real estate projects and developed an area of approximately 330 million square feet. DLF Group has 215 msf (approx.) of development potential across residential and commercial segment. The group has an annuity portfolio of over 35 msf (approx.). DLF is primarily engaged in the business of development and sale of residential properties (the “Development Business”) and the development and leasing of commercial and retail properties (the “Annuity Business”).
DLF Limited, has been recognised as an index component of the Dow Jones Sustainability Indices (DJSI) in Emerging markets category. This recognition demonstrates DLF’s track record for its governance, social and environmental initiatives. While DLF is the only real estate company from India to be included in the DJSI index, it joins the ranks of just 11 companies from India to be recognised for the benchmark for Corporate Sustainability. It also received 16 Swords of Honour — by British Safety Council 2020 — the highest number received by any company globally in a single year.