During the pandemic, Indian Hotels Company Limited (IHCL) was one of several hotel groups that sent food from their kitchens to people’s homes.
This particular greenfield project is located on Nelson Manickam Road in central Chennai.
Noting that Chennai has been a key market for IHCL, Puneet Chhatwal, MD and CEO of IHCL, said that this development opens a new opportunity.
Similarly, developers such as Total Environment, Panchshil, Lodha, Prestige etc., who focus on developing uber luxury residences have witnessed high traction for the product,” he said.
Given that this project is in collaboration with Taj Group, it is priced higher than other luxury projects in the vicinity, Chugh pointed out.
During the pandemic, Indian Hotels Company Limited (IHCL) was one of several hotel groups that sent food from their kitchens to people’s homes. Through their Qmin app, customers could treat themselves to braised New Zealand lamb shanks from Shamiana at Mumbai’s Taj Mahal Palace, to asparagus paruppu usili from Southern Spice, at Chennai’s Taj Coromandel. IHCL is once again focusing on providing luxury at home but in a different format.
In partnership with Chennai-based Ampa Group, a real estate player, it has announced the launch of Taj Sky View Hotels and Residences, an integrated development comprising 253 keys and 123 Taj-branded residences. This particular greenfield project is located on Nelson Manickam Road in central Chennai.
Palaniappan Ampa, Chairman and Managing Director, Ampa Group, said that around ₹850 crore will be invested in this project which will be ready by the first quarter of 2027. This will be the tallest hotel tower in Chennai comprising 23 floors. The residential properties will be priced ₹6.5 crore (roughly 2,500 sq.ft.) and go up to ₹19 crore (roughly 5,900 sq.ft.). The developers are targeting High Net Worth Individuals (HNIs), Ultra HNIs, CXOs and Taj customers. Noting that Chennai has been a key market for IHCL, Puneet Chhatwal, MD and CEO of IHCL, said that this development opens a new opportunity. “Along with the residences we will bring some of our iconic concepts like all day dining and specialty restaurants,” he said.
One can enjoy the signature Taj life from home, including home dining, butler service, laundry services, business centre and on demand house keeping. Home owners can get access to Taj hotel’s signature restaurants, including Shamiana and House of Ming. The residences here will be maintained by a team of professionals from the Taj. And more importantly five-star quality maintenance will be provided at subsidised costs.
To a query on why Chennai was chosen for the project, Suma Venkatesh, Executive Vice President, Real Estate and Development, IHCL, said, “IHCL’s development strategy is to pursue opportunities in key metros and upcoming tier II and tier III cities. The composition of the development and choice of brand is driven by the long-term potential of the micro market reflected in its future demand trends. Our announcement is in keeping with this strategy.”
IHCL is planning to do more such projects across India. It has indicated that the group is evaluating more such projects in at least eight cities in India.
According to details shared by Arun Bharathi, Managing Director of Bharathi Meraki, who has been associated with this particular project for a long time, five signature restaurants, including an exclusive rooftop dining experience will come up here. In a detailed presentation, he said the project will also house Niu & Nau salon, J Wellness Circle and a 75,000 sq.ft. lifestyle club. Bharathi further said that Sishya School will come up on the premises, and that some of the best experts and consultants globally have been roped into this project.
Andy Fisher Workshop from Singapore has done the concept for the project. Studio Kin from Sweden has been roped for the interiors, and the landscaping work will be done by WM Koncepto from Thailand. Bo Steiber Lighting Design will do the lighting for this project.
When asked about the Coovum nearby, Bharathi said that the houses start at 80 feet high. “The residences are designed to primarily look away from the Coovum. The wall height has been increased (20 feet). We will have a tree-based corridor.”
Experts who have been tracking the real estate segment for years said that more firms in the hospitality space are entering into an engagement with property developers for similar projects in India. Jerry Kingsley, Head – Strategic Consulting & Value & Risk Advisory India, pointed out that the rising number of Ultra HNIs in India has created the demand for ultra-luxe residences and premium living experiences.
“Similar projects in India are Prestige Leela Residences in Bengaluru, Four Seasons Private Residences in Bengaluru, Park Hyatt Residences in Hyderabad and St. Regis & Westin Residences in Mumbai, Trump Tower in Gurugram, etc. Similarly, developers such as Total Environment, Panchshil, Lodha, Prestige etc., who focus on developing uber luxury residences have witnessed high traction for the product,” he said.
Kingsley added: “Marriott International entered into its first agreement for JW Marriott-branded residences in India at a tier I city and is currently in the process of securing more agreements. Similarly, Hilton is actively exploring avenues to expand the presence of its luxury brands like Waldorf Astoria and Conrad in metros to establish branded homes. Other brands exploring India are Trident (Oberoi), Four Points by Sheraton, Grand Hyatt, Wyndham Hotels & Resorts and Radisson Hotel Group.”
Sanjay Chugh, City Head – Chennai, ANAROCK Group, said that the project is one of its kind. “We have had similar projects across other cities where developers have collaborated with leading hospitality brands or international brands for the ultra-luxury buyers. It has definitely garnered a lot of interest from the ultra-rich homebuyers who seek luxury at the highest level.”
As per ANAROCK Research, the average prices in and around Nelson Manickam Road (where the project is located) is anywhere between ₹17,000-₹25,000 per sq.ft. Given that this project is in collaboration with Taj Group, it is priced higher than other luxury projects in the vicinity, Chugh pointed out.
