GST Road
The construction of a 40-km elevated corridor is being considered by the Chennai Metropolitan Development Authority. The corridor has been planned from Chennai to Chengalpattu along the GST Road. Specifically speaking, the 40-km stretch of the elevated road will be constructed along the Chennai Airport on the city’s outskirts to the toll plaza near Chengalpattu [...] Continue Reading »
The country’s largest manufacturer of hydraulic, industrial and automotive hoses, Polyhose India has gained 86 acre land parcel which earlier belonged to Presidency Kids Leather, nearby Chennai. Under the SARFAESI Act the land was acquired through an auction conducted by Syndicate Bank. The deal size is said to be close to Rs 100 crore, including [...] Continue Reading »
The auto components manufacturing conglomerate, Rane group, has appointed the international property consultants Jones Lang LaSalle (JLL) India as its advisor for the transactions. As per the press release the property on the 100 ft road is very well located for residential development. The built up residential space in the vicinity can fetch around Rs. [...] Continue Reading »
With the expectation of a stable government at the Centre and the industry betting big on growth in jobs and, thus, increased investments, the realty sector in Chennai is set for growth. During a discussion on imminent market changes in Chennai, a hopeful lot of people from the industry were optimistic about the realty situation [...] Continue Reading »
Chennai- Lancor Holdings, Chennai based leading developer has announced that it has acquired 6.5-acres plot near Maraimalai Nagar on the GST Road for Rs 40 crore. The company in a regulatory filing with stock exchanges disclosed the purchase of 100 percent equity shares of L&T Commercial Projects Pvt Ltd. However, the firm did not reveal [...] Continue Reading »
The vacancy rate of the office space in the real estate market in Chennai is growing. Seeing the trend, builders are moving towards the residential space for sure returns. It is reported that more than 30 percent of the office spaces are lying vacant in the peripheral areas such as Old Mahabalipuram Road (beyond Perungudi) [...] Continue Reading »
The St Thomas Mount and Velachery Main Road in Chennai city is closed since two years. These roads have connectivity to newly-merged areas of Greater Chennai. Therefore the citizens of Chennai want to start the Metropolitan Transport Corporation (MTC) services here. However, in reply to this the MTC experts say that there is enough buses [...] Continue Reading »
