The document summarizes a residential and commercial project called ETA Verde located in Chennai, India. It will be a joint development with Adhesives and Chemicals on 0.4 million square feet of land starting in January 2013. The developer, ETA Properties and Investments Private Limited, has 16 years of experience developing 2 previous projects totaling 0.36 million square feet and has 5 ongoing projects of 1.8 million square feet. The project receives a 'Chennai 5 Star' rating based on its construction and seismic zone compliance, planned amenities, location near IT zones, clear legal agreements, funding sources, and the developer's experience completing prior residential and commercial buildings.

1. mohammad
Project Profile
Type of project Residential + commercial
Location of project Arcot Road, Valasaravakkam, Porur, Chennai
Type of development
Joint development with Adhesives and Chemicals (land
owner)
Start date of project January 2013
Possession committed to
customer as per allotment letter
September 2015
Total saleable area 0.4 million sq ft
Percentage of physical
completion as on date
0 per cent
Sponsor Profile
Name of the project ETA Verde
Name & address of the company
developing the project
ETA Properties and Investments Private Limited.
Chennai Citi Centre, 4th Floor No 10 & 11,
Dr Radhakrishnan Salai Mylapore, Chennai – 600004.
Name of the developer group ETA
Track record in years 16 years (since 1996)
Projects developed till date 2 (0.36 million square feet [sq ft])
Ongoing projects 5 (1.8 million sq ft)
Project Rating Drivers
Project construction quality and amenities
o Construction Quality – The project’s structural quality is backed by the sound track records of
the architect and structural engineer. The project has been designed in conformance with
seismic zone-III requirements. The developer provides a 12-month defect liability period to
buyers from completion of construction.
o Amenities: The proposed amenities in the project include a swimming pool, gymnasium, party
hall, and landscape garden.
o Location: The project is located at Arcot Road, Valasaravakkam, Porur (Chennai, Tamil Nadu)
and is in proximity to three operational information technology (IT) special economic zones in
the region, Vadapalani junction and Porur junction. The project is mainly targeted at IT
professionals from the region. The project is around 15 kilometre (km) from the airport and 10
km from the city centre (T Nagar).
Project legal quality – The project’s legal quality is backed by a clear and marketable land title,
detailed construction and sale agreement, which mention details such as the fixed possession date,
maintenance terms, defect liability period, default implications, cancellation clause and delay
compensation. The planning permit, building permit, and environmental clearance for the project have
been applied for and are expected in due course of time.
Project financial quality – The project’s financial quality is high, supported by limited outflow towards
land payment as the project is in joint development with the land owner. The project construction will
be mainly funded through credit lines from bank and customer advances.
Project sponsor quality – ETA Properties & Investments has completed two residential projects in
Chennai and Madurai (Tamil Nadu) in the past five years. They have, however, through their group
entities, completed a number of projects, including residential, retail and offices in Chennai and
Bengaluru. The sponsor also draws from the strong international foothold of the ETA group in the Middle
East. The sponsor has a strategy of funding developments primarily through internal accruals, customer
advances, and bank debt.
ETA Verde
Rating assigned: ‘Chennai 5 Star’

2. Project Photographs (As on December 2012)