Chennai
The Tamil Nadu Government has decided to waive a portion of the interest on home loans for borrowers from housing co-operatives societies. The government took this decision to make housing affordable for people in the low and middle-income group. To increase the supply of affordable housing in Chennai for people in the low and middle [...] Continue Reading »
According to the National Housing Bank‘s Residex index, the cost of houses and apartments in Chennai are rising sharply. The index for the city raised by 39.5 percent in the last quarter of 2011-12 compared to the same period last year. This is recorded as the highest jump in residex index for any city for [...] Continue Reading »
The Chennai electricity board has announced that on 26th May Power supply will be suspended in following areas for maintenance work. The notice has been given so that the residents of houses and apartments in Chennai will be aware of the power cut and manage their daily work properly. The duration of the power cut [...] Continue Reading »
Chennai-based real estate developer, Lancor Holdings Limited has planned to invest around Rs 300 crore in the next two years to develop around 800 residential units in Chennai. Lancor Holdings so far developed around 3 million sft with focus on residential space. Their new planning will construct five projects in and around the city to [...] Continue Reading »
It is stated by the builders that the delay in getting clearances for projects is the main reason for escalating the cost of apartments in India. Normally it takes a few months to a couple of years for most projects to get approval. The Chennai Metropolitan Development Authority (CMDA) has introduced the green channel clearance [...] Continue Reading »
Old Mahabalipuram Road is coming up as a new destination for rental apartments in Chennai. Last year the cost of House rents in Chennai were up by about 10-20 per cent. But this year as the supply of houses are exceeding demands, rental values are subdued on the outskirts. The demands for residential apartments in [...] Continue Reading »
The Chennai Municipal Corporation had distributed Property Tax Cards valid for the period between 2007 and March 2012, to 6.5 lakh owners of houses in Chennai and other properties under the old city limits, for records of property tax payments. After the merging of new areas, the city now has 200 wards and the civic [...] Continue Reading »
Real estate in the southern part of India has seen stable sales and better than the north. This has happened because of the cautious pricing strategies adopted by local builders in the south Indian cities. Everybody, from banks to realty developers to the first-time buyer feels a lot more comfortable in investing in the properties [...] Continue Reading »
As the cost of properties in Chennai are increasing and new apartments at affordable price ranges are difficult to secure within the city, resale market for existing properties is becoming hot in Chennai. The demands of resale of properties are increasing in prime location in the city. As new properties might not be coming up [...] Continue Reading »
Puravankara Projects is planning to launch 5 new real estate projects in Financial Year 2013. The projects will be constructed in the cities of Bangalore, Chennai, Coimbatore, Mangalore and Mysore. Puravankara is looking to sell 3 million square feet of projects in coming financial year. The company is also planning to utilize the demand for [...] Continue Reading »
