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.

Residential properties in Chennai are also showing a mark appreciation. Around 20 major residential projects have line up to come up in Velachery and Perangudi.

Middle and high segment housing will witness more than 2000 accommodation units to come up over the next two years.

Another 3,000 units are expected to be added by the next year’s end if the Mahindra city and Singapore Township are to be taken into account. Talking about commercial properties in Chennai, more than 15 million sq ft of A grade is likely to come up in the next two years.

With an increase in number of IT and ITes companies in Chennai, there is strong demand in peripheral locations including Velachery, Perungudi, and Thiruvanmiyur for budget apartments to provide the employees with accommodation.

As per the data showcased by the report, IT sector growth in India has emerged as a key driver in giving further impetus to real estate activities in all segments whether commercial, residential or retail.

News Published Under:   Chennai |

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