Binny Ltds land near Sowcarpet is a goldmine. It is literally in the heart of Chennai bounded by the chennai railway station and the port. I am 100% confident that it will sellout quickly. Have a look at the location.
When the sales happen quickly , execution follows. Execution troubles take place only when sales are slow. If the location is criteria for buyers , SPR Binny is likely to be a hit.
I dont think the target group is IT/ITES professionals. The target group is the flourishing trader community who do business in the Sowcarpet area and want a bigger home with better amenities.
630 apartments have already been launched & it is listed as Codename City. I will do some digging around and find out how many have been sold and post the cost sheet here if i can get hold of it.
The interests of Binny are protected by the JDA with SPR. If the Piramal document is anything to go by - SPR has a strong execution track record.
As far as the brickworks rating goes, many top notch developers would get the same rating. 20% + is the cost of funding in real estate projects in general industrywide. However, once should keep track of execution progress.
Bribery allegations in SPR - while a cause for concern - are no longer in place so i am going to park that aside for the time being and focus on Binny ltds JV with SPR.