8/3/2019 apartments in kelambakkam

1/2

Project Profile

Type of project Residential

Location of project No: 2/340, Malayappa Mudali Street,

Kelambakkam, Chennai.

Type of development Bought out

Start date of project anuary 2011

Possession committed to customer as per sale agreement 31st December 2012

Total saleable area 0.15 million sq ft

Percentage of physical completion as on June 2011 0 per cent

Sponsor Profile

Name of the project Elysium

Name and address of developer Ramky Wavoo Developers Private LimitedLevel 5 Diamond Dune, #323, P H Road,

Chennai 600 029.Name of developer group RWD

Track record in years 5 years (Since 2006)

No. of projects developed till date 1 (0.3 million sq ft)

No. of ongoing projects 1 (0.2 million sq ft)

Project Rating Drivers

Project construction quality and amenitieso The projects structural quality is backed by the sound track records of the architect and structuralconsultant. The project will have onsite material-testing facilities. The developer provides defect

liability for the project and maintains the project, both for a period of twelve months.

o Amenities: The project will have a gymnasium, indoor game facilities, meditation hall, badmintoncourt, jogging track, and childrens play area.

o Location: The project is at Kelambakkam (Chennai, Tamil Nadu), in proximity to informationtechnology (IT) companies and the Siruseri IT Park. The project is 36 km from the airport and 34km from T Nagar, the city centre. The project mainly targets IT employees.

Project legal quality The legal quality is backed by a clear and marketable land title. The title searchfor the land has been done for 60 years by the legal consultant. The sales agreement mentions details

such as possession date, default implications, maintenance terms, delay compensation, cancellationterms, and payment terms.

Project financial quality The financial quality is marked by support from the promoter group,moderate internal accruals, and customer advances. The construction cost will be mainly funded with

customer advances. Project sponsor quality The sponsor quality is marked by a moderate developmental track record in

Chennais real estate market. The company, Ramky Wavoo Developers Pvt Ltd, was set up as a 50:50

joint venture between the Ramky group, Hyderabad, and Wavoo Realty & Investments, Chennai. Inthe past 5 years, the company has developed one residential project and has also sold developed plots

of 2.4 million sq ft in Chennai. The companys website mentions key project details such as approvals,

specifications, amenities, project progress and photographs, payment schedule, floor plans, locationmap, and project brochure.

ElysiumRating assigned: Chennai 5 Star

8/3/2019 apartments in kelambakkam

2/2

Project Photographs (As on October, 2011)