Chennai
Fresh ‘lock-and-seal’ notices were issued last week to 10 buildings in areas like Arumbakkam, George Town and T Nagar. The builders have been given time of one month to restore the buildings to their original plan or vacate the premises. Since the notices were being issued after four years, the enforcement wing inspected all the [...] Continue Reading »
Last laid in 1994, the stretch of 60 Feet Road in Annanur near Avadi, Chennai has remained without a tar top for several years. “A day’s rain is enough to make it a slushy nightmare,” said V Gopalan, secretary of the resident welfare association. Even if the municipality agrees to relay the road, it will [...] Continue Reading »
A court-appointed monitoring committee which met on July 15 had recommended disconnection of amenities and cancellation of trade licenses in Chennai. It decided to look into the possibilities of sealing unauthorized portions to take up demolition. It also recommended the formation of a special task force with different local body officials to take action against [...] Continue Reading »
The Retailers’ Association of India along with the Confederation of Real Estate Developers’ Association of India and Multiplex Association of India had moved the Bombay high court against the service tax on renting of commercial property.The main argument that the developers made was that tax department was misinterpreting the entry of taxable service “in relation [...] Continue Reading »
A building on Anna Salai, Chennai has violated development regulations like setback area, floor space index and parking allotment. The owner of the building obtained permission from Chennai Corporation in 1987 for construction of ground plus one floor for a furniture showroom. But, the owner deviated from the original plan and constructed ground plus three [...] Continue Reading »
Choolaimedu in Chennai is a residential hub that is well connected to T Nagar, Mount Road and Kodambakkam. Choolaimedu is now the residential heart of the city with high rises and apartments packed together. Another area, Kilpauk is now home to many high-rises – which may seem spacious but provide housing to thousands of thirsty [...] Continue Reading »
With the increase in policy rates by the central bank on Tuesday can impact the financial performance of the real estate sector. Increase in policy will have much lower impact on the realtors with strong cash flows. According to a Citibank study, the upward revision in the increase cost will have much lower impact on [...] Continue Reading »
The Chennai Airport is looking for an area of 90 metres by 240 metres at the Kolapakkam end of the extended secondary runway. The land will be needed to install runway lights and for the buffer zone at the extended end to meet contingencies if an aircraft overshoots the runway. The residents of Maxworth Nagar [...] Continue Reading »
On Saturday the residents of Vadakkarai junction near Red Hills quickly brought out their pots, pans and whatever else they could find to scoop out the diesel spilling out from a diesel tanker whose valve got damaged while negotiating a speed breaker.The tanker was carrying diesel to the Andhra-Tamil Nadu border via Red Hills. It [...] Continue Reading »
In the home loan market, Mumbai has dropped to number three position and Chennai is number two. A combination of factors ranging from increase in number of nuclear families to growing job opportunities in Chennai have led to a steep demand for residential real estate. Chennai has always been a conservative market as far as [...] Continue Reading »
