Chennai
Property consultants Jones Lang LaSalle reported that the demand for residential units in and around Chennai has remained stable in the third quarter of current year. Around 5,600 units have been absorbed in the quarter when compared to some 5,550 units in April-June 2012 quarter. The growth corridors like OMR and GST have continued to remain [...] Continue Reading »
Chennai suburbs are witnessing rapid realty growth. However, deplorable infrastructure condition have been a menace that citizens have to grapple with. Medavakkam has witnessed a real-estate boom in recent years with residential apartment blocks and individual houses sprouting up rapidly. Poor state of infrastructure, including unmotorable and poorly lit roads, and the poor disposal of [...] Continue Reading »
Residents of the Chitlapakkam town panchayat are living in fear of the being swamped with the sewage. Following the recent rain, sewage and rain water flowing through a channel has overflowed and stagnated the area of vacant land. Local residents fear that if no action is taken, the situation will become worse with the coming [...] Continue Reading »
Chennai has recorded the highest occupancy levels amongst the top six Indian cities. Occupancy level stands at 64 per cent in Chennai. As per reports, the average room rate in H1 2012 was recorded Rs 4,900 in Chennai, which is an increase of approximately 4 per cent over 2011. The reason behind this is the [...] Continue Reading »
Venture fund Fulcrum Venture India has exited from real estate firm Casa Grande. Fulcrum got back return of over 10 times as they had invested Rs 4.8 crore in FY 2004 and have exited at Rs 50 crore. Chennai-based Casa Grande was launched in 2004 by M Arun Kumar and KR Anerudan. It builds luxury [...] Continue Reading »
The nerve center of Chennai, Anna Salai has the maximum number of high-value property tax evaders. Most of the properties in the city corporation fall into the tax defaulters list. About 50 properties of Anna Salai fall under the top 50 tax arrears list and the tax arrears of each of these properties range between [...] Continue Reading »
The four-day property show named “Living Spaces 2012” organised by The Hindu Property Plus has witnessed inquisitive homemakers huddling around tables, discussing interior designing with builders. This event was held at the Chennai Trade Centre in Nandambakkam and will continue until October 4. The fair was inaugurated by A Krishnakumar, managing director and group executive [...] Continue Reading »
Chennai office market has changed in nature as it has shifted from being absolutely IT/ITES dominated to more diversified occupier base. According to a survey by Knight Frank India, emergence of newer sectors have boosted the city’s office market. Although IT/ITES sector continues to be affected by economic constraints, leasing levels should remain firm and [...] Continue Reading »
Chennai-based VGN Developers has tied up with a foreign private equity fund, Pragnya PE Fund to launch a residential project in Chennai. Both entities have floated VGN Pragnya Realty Pvt Ltd to develop a 5.6-acre residential project, VGN Hazel, near Poonamallee, a suburb about 25 km to the west of Chennai. The residential project will [...] Continue Reading »
As power deficit is taking a toll on the economy of the state, the Tamil Nadu government is planning to make it mandatory for major industries, high-rise apartment complexes, major institutions and hotels to meet two per cent of their energy needs from solar sources. The decision has come after a consultation with Tamil Nadu [...] Continue Reading »
