Chennai
The third highest increase in property has been observed in Mumbai in comparison to the other major cities over the past seven years. The rise in property is around 129 percent since 2007. Chennai has topped the chart with a 249 percent hike. The other cities that made to the list with an over 100 [...] Continue Reading »
No longer is the Indian real estate sector an unorganised one, thanks to the investments from foreign players and Indian corporate houses. Rapid urbanisation, increasing levels of income and opening up of the sector to FDI have resulted in phenomenal growth of the Indian market. The multiplier effect of the real estate sector is what [...] Continue Reading »
Tamil Nadu Chief Minister J Jayalalithaa said in a Tuesday announcement that the government has plans underway to develop a new self-supporting residential township in Kadambur near Maraimalai Nagar in suburban Chennai. Kadambur is located at a distance of 50km from Chennai; and is in close proximity to Maraimalai Nagar which has emerged as a [...] Continue Reading »
Bigwig biscuit maker Britannia has sold 8.6 acres of land in Padi, for Rs 172 crore. The land, for the sale of which Britannia had floated closed tenders last year, has been purchased by Chennai-based Sugal and Damani Foundation. About the purchase of the property sold by Britannia, Sugal and Damini Foundation said: “It was through a competitive [...] Continue Reading »
It seems that the safety of the buildings is overlooked in the process before handing over the completion certificate or for the old buildings which are in need of maintenance. Two buildings collapsed – one in Delhi’s Inderlok area and the other near Chennai – taking a toll of over 60 lives last week. Poor [...] Continue Reading »
The housing prices have fluctuated a lot in the country in the last decade. The Economic Survey which quoted the residential index (RESIDEX) prepared by the National Housing Bank for 26 major cities have come up with some interesting data. Housing prices have increased in 24 major cities of the country between 2007 and 2013. [...] Continue Reading »
Unfortunately, every major scam in the country during the past few years has a real estate component. May be because the investments are high and the regulations are poor to stop such scams in the real estate sector. Adarsh happened because retired Army men and babus could not muster the will to give away a building in tony [...] Continue Reading »
Shri Kailash Logistics Limited (SKLL) is well on its way to execute its broad expansion plans. They’re in talks with a couple of PE players to raise the necessary resources for expansion. SKLL’s motivation for this is simple – they want to quickly establish themselves among the very best in logistics in India. SKLL’s immediate [...] Continue Reading »
As many as 19 special teams have been constituted by the Chennai Metropolitan Development Authority (CMDA) to carry out an inspection of nearly 330 multi-storeyed buildings in the city. According to unidentified sources familiar with the move undertaken by the CMDA, each of the 19 special teams will have three officials from different fields. The [...] Continue Reading »
Ozone Group is coming up with a project for mixed-use called Metrozone, which is located at Anna Nagar in Chennai. The Blackstone Group LP is said to have made an investment of Rs 175 crore in the residential component of this project. This news didn’t come as a surprise after Ozone Group made several investments [...] Continue Reading »
