Old Mahabalipuram Road
Kotak Realty Funds,the real estate private equity fund of Kotak Mahindra Group, has entered into a joint venture with Chennai-based Akshaya Homes. The joint venture has been formed for construction of residential units on a 20-acre plot off Chennais Old Mahabalipuram road. It is a revenue-share venture, where Kotak will hold 20% stake while Akshaya [...] Continue Reading »
Vision India Real Estate has planned to invest Rs 1750 crore in two different apartment projects in Chennai. The company is currently developing a 680-unit apartment project at Padur near the Old Mahabalipuram Road (OMR) in collaboration with Gem Group. Vision India has planned to launch a villa, apartment and plotted residential project on 75 [...] 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 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 »
Pushkara, the premium lake view residential apartment complex at Old Mahabalipuram Road (OMR) Chennai, has been launched by the Marg ProperTies, the real estate arm of Marg Limited. Pushkara will be constructed over an area of 3.84 acres and will comprises 204 homes including Studio (1 BHK), 2 BHK and 3 BHK apartments over five [...] Continue Reading »
The Xander group has paid Rs 200 crore to buy an IT office building in Chennai. Appaswami real estate sold the property to the investment firm. The commercial building is located at Old Mahabalipuram Road. Being an IT corridor, any property in the location is high in demand as these will be revenue generating assets [...] Continue Reading »
The Olympia Group, a Chennai based realty company recently launched Olympia Grande on the Grand Southern Trunk road at Pallavaram in Chennai. As a part of gated community, apartments here will be spread in 17 blocks of 11-floor towers. Olympia Grande is a premium residential project comprising around 780 2 and 3 BHK apartments with [...] Continue Reading »
Chennai City is witnessing a change in the concept of development of large-scale projects with the entry of big developers from outside the city planning integrated townships here. Old Mahabalipuram Road (OMR) has attracted most of the real estate development in Chennai in the last 3 years after being declared as the Chennai IT Corridor. [...] Continue Reading »
Buying a house along the beach around Chennai is the new trend among those looking for an investment away from the city. This trend has led to development of the East Coast Road (ECR), Old Mahabalipuram Road (OMR), and the Grand Southern Trunk (GST) Road. While OMR Chennai has highrise buildings, ECR Chennai has sprawling [...] Continue Reading »
