Binny Ltd - own property in the heart of Chennai at 1/10th the cost!


Does the funadamentals support for a huge upmove… idea guys??

Disclaimer… not invested

(sri krishna bhutra) #207

Approval consent

(anand) #208

This is approval from the TN pollution control board and not CMDA.

(sri krishna bhutra) #209

Yes. CMDA approval I couldn’t find online.
Though they said that they have received it and are expecting Rera approval this week.


(sri krishna bhutra) #210

SPR city is hosting JITO event at perambur. They are officially going to announce their RERA number tomorrow. Booking are starting from 13000 per sqft for market of india. For jewel shops etc in Ritchie market the selling price has been kept at 16000 per sqft.

For every 100sqft of booking they are giving 10gms of gold.

Honourable PM Shri Narendra Modi is also going to come for this event.

Sri krishna Bhutra

(sri krishna bhutra) #211

Pfa the JITO event brochure

(anand) #212

VP - Venkaiah naidu is the chief guest of the event.

(Bheeshma Sanghani, PhD) #213

Hi @inteliinv

Nice work in digging out. Appreciate it. However, on the TN Rera website in the list of registered projects - there is no mention of the development anywhere. Even on their own website - there is no mention as of now (of the RERA regn details). I would wait for the registration details to come out to be doubly sure. The person that they had recruited from Panchsil Pune to head sales & marketing resigned some time back to start his own venture as is evident from his linkedin profile. The revised JDA terms are not known yet so in the absence of that, one doesnt really know the finer points. The final RERA number for Market of India will give the project a statutory confirmation from an investing point of view.


(anand) #214

SPR seems to have recruited many (a couple of them from Lodha group I believe) after the above event. Click on the “Our Team” link.

(sri krishna bhutra) #215

Message I received from SPR team today - “Dear Patrons, We are glad to inform you that SPR City & Market of India is CMDA approved and RERA Compliant - Team SPR.”

(Bheeshma Sanghani, PhD) #216

Hi @inteliinv

There is still no info on their website or TN RERA site on the registration details. I would be circumspect unless there is concrete evidence of their registration details. My ground checks indicate that the property is still not RERA compliant so not sure why would they send these msgs. Chennai property market has a terrible track record of adhering to compliances. On the plus side - once the property has a RERA number most of the execution risks are limited and the project has to be delivered by law - so once these details are in the public domain - the investment will become interesting

Disc - have a small tracking position

(sri krishna bhutra) #217

Hi Bheeshma,

I tried to get out some information on the same. Sharing the details I received. Dont know if these are true, do try to verify the same.
Rera number below
TN 29/BUILDING/0067 - This is commercials
TN 29/BUILDING/0068 - This is residentials.

(sri krishna bhutra) #218

The same is available on TN rera site

(anand) #219

Item no. 87 & 88 on the rera site.



(sri krishna bhutra) #220

Couldn’t get the same details from the concerned person before as he said that the customer footfall was very high and hence he was busy


(Bheeshma Sanghani, PhD) #221

Excellent stuff. These registration numbers weren’t there till morning but they are genuine. The project is now well and truly underway. The two separate numbers suggest that there are two projects - one for SPR and one for MSB group - which i presume is Binny. Great going @inteliinv

(sri krishna bhutra) #222

Thanks. The applicant for both the cases is SPR only. Couldn’t find any mention of MSB group.


(anand) #223

MSB is probably CMDA terminology for the type of project (Multi Storeyed Building??)

(anand) #224

@Capsule91 Any comments on the cup and handle pattern that you were following, in the context of the project approvals ?

(Bheeshma Sanghani, PhD) #225

Yes that sounds more logical. MSB is multi storied building and not MSB group as i had erroneously presumed.

Edit : After being down for the past 3 months or so - the market of india website is also now operational