Property Portfolio

VR Chennai

Development Drivers

Location

  • Chennai is the fourth largest economy and sixth largest city in India with huge potential growth
  • Chennai city population is about 8.65 Million¹
  • Economic hub for manufacturing, automobile and IT services
  • 1.2 Million households earning more than 1,000,000 per annum
  • 24% average household expenditure on retail as a percentage of the annual income
  • Currently there are only four Grade A mall in Chennai with an occupancy rate of 98.6%²

¹Chennai Metropolitan Population 2016, www.census2011.co.in
²JLL Retail Catchment Report, Jan 2015

Launch

Q3 2017

Affluent Catchment

  • A rich immediate catchment area of 2,400 upscale residential units
  • A super primary catchment area of Anna Nagar and a primary catchment comprising the upscale residential neighborhoods of Kilpauk, Mogappair and Nungambakkam.
  • Capital values in these areas are comparable to other wealthy catchments across the city ensuring a high spending hub.
  • Super Primary Catchment 5min drive time, 50,000 people, average purchasing power INR 181,000 per capita.
  • Primary Catchment 15min drive time, 1.2m people average purchasing power INR 178,000 per capita.
  • Secondary Catchment 30min drive time, 5m people, average purchasing power INR 231,000 per capita.

Development Strategy of the project is to develop a premium retail, dining & entertainment destination that attracts the larger extent of West Chennai community. VR Chennai design is inspired by contemporary interpretation of the ancient temples as well as bright and colourful Chennai fabrics.

  • Gross Leasable Area (GLA): 988,338 sq. ft. on 8.45 acres
  • Built up Area: 1,847,877 sq. ft.

Location

VR Chennai is strategically positioned in Anna Nagar which is part of the prime growth corridor of the city.

Access to the development is effortless, enabled by close proximity to the Chennai Mofussil Bus Terminus, Poonnamalle High Road (NH 4) and Jawaharlal Nehru Rd (SH 2).

The development sits a 10-minute walk from a metro station ensuring that Chennaites from all over the city will have access to a unique retail experience.

Key Features

  • Luxury high street stores, anchors and mini- anchors
  • Vast landscape
  • 9- Screen cinema and an Imax
  • Varied food courts
  • Family Entertainment Centre
  • Co-Working Space
  • Boutique Hotel
  • 3 basements catering to 1600 four wheelers and 1200 two wheelers

Key Features

  • Part of 4.8 million sq. ft. of mixed use project of 2,400 residential units, hotel and a retail centre.
  • Premium positioning
  • International brand focus
  • Pre-Certified - LEED - Gold rated building, by The Indian Green Building Council

Contact Us

For leasing and marketing inquiries, please contact:
business@virtuousretail.com

For media inquiries, please contact:
corp_comm@virtuousretail.com



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