Latest Property News on 'Chennai'

Buying a House in Chennai turn into a Prohibitive Choice

Scouting a comfortable as well as affordable house in booming Chennai is no better than an uphill climb with property prices reaching the skyline in the city.  Full time real estate agents have captured the market and have kicked out part time brokers here.

The task to buy a home has become more troublesome for middle class families who are blaming brokers to earn large profits without investment and taxes. Read More »

ETA Star to Invest USD 923 mn in Chennai

In a bid to tap the growing demand for residential projects in India, ETA Star Property Developers Ltd, a group company of Dubai-based ETA Ascon, has announced to invest USD 923 million to construct an info-tech park in Chennai.

The IT Park, to spread over an area of 100 acres would home leading software companies such as Microsoft, Intel, IBM. Its commercial part will be developed as a part of mega residential project. Read More »

Chennai Property - Digs that can Produce Gold

Chennai is regarded as both the commercial and cultural capital of South India. The city is fast transforming into one of the most sought after destinations by foreign investors looking to make substantial presence in India real estate.

Today, the property market is looked upon as the only tool that can generate immense wealth and new value. And Chennai real estate is no exception to this belief. The city famous for its vast coastline stands at advantage from different aspects. When comparing its cost of living with its counterparts like Delhi, Mumbai, and Bangalore, Chennai still offers the lowest. Read More »

Flats for Slum Dwellers in Chennai

In order to provide housing for pavement dwellers and families living in river banks, Tamil Nadu Government is considering building two model towns in North Chennai and South Chennai anchoring 9,936 tenements and 9,000 tenements respectively.

Each tenement will have a base area of 270 sq ft with infrastructure including piped water supply. These multistoried tenements may have the lift facility as well. Read More »

Areas Prone to Property Frauds in Chennai

Over the past few months, there has been a significant increase in number of real estate fraud cases in Chennai. Devising solutions for the same, the police have listed some areas in Chennai prone to such activities.

Old Mahabalipuram Road, East Coast Road, Velachery, Pallikaranai, Tambaram, Chromepet, Porur, Mogappair and Ambattur are the areas included in the list. Read More »

Puravankara Group Hopes to Establish Presence in Chennai

One of the leading property developers, Puravankara Group has slated the plans to invest a prohibitive amount of Rs. 1,000 crore for development of different real estate projects it proposes to take up in and around Chennai.

The group had already shell out Rs 500 crore for its current projects in Chennai. It is also believed to launch its residential project at the IT Corridor on the Old Mahabalipuram Road in Chennai. Read More »

IT companies Pushing Real Estate in Chennai

Chennai is witnessing a smart make over with the ongoing construction activities, a result of constant demand from the information technology (IT) sector, which has certainly given a push to real estate developments in this known city of South.

To stay in step with its geographical growth, the city needs to integrate developments offering good quality and neighborhood with decent work places and entertainment options in the same premises, says a report compiled by Trammell Crow Meghraj Property Consultants. Read More »

Property Prices Soar in Chennai

Soaring prices of property in Chennai has forced property developers there to scout the city outskirts for new business prospects. The demand for dwelling units is shooting up as if there is no tomorrow. According to property surveys, Chennai will require at least 50,000 new homes by 2020.

With such a strong demand for houses, there is a stiff competition in the market which has spurred significant price and rent increases. Non residential activity is also at its best with demand for commercial and retail properties seeing appreciation. A square foot of space in the city’s upscale Pose Garden apartment now costs Rs.14, 500. Read More »

Real Estate Prices Rise in Tier II and Tier III Cities

As property prices in metros see a shoot up, Tier I and Tier II cities have emerged as the most promising market for residential as well as retail developments. Now, these places experience a sharp increase in property prices which has gone along with increased demand. It has shot up by as much as 40% in the past two years which is believed to be the highest as compared to earlier hike descriptions.

The property boom in Tier II and Tier III cities is further fuelled by the factors like opening up of financial sector, rationalization of income tax and loan policies in addition with well-paid IT jobs. However, the rise in prices does not square with the earning capabilities and is being considered as an unhealthy sign in the long run. Read More »

Pantaloon-All For A Mall

Pantaloon is going the mall way, obtaining for the purpose about five acres of land in Chennai, precisely at Thoraipakkam along Old Mahabalipuram Road. The latest in the company’s format in the retail chain, it is expected to house everything that is needed for the construction sector, such as paints, hardware, furnishings and various equipments.

After putting up the shopping complex, Pantaloon may either lease it out or sell space to different firms which serve the home needs sector. Read More »