Posts Tagged ‘Chennai Properties’

Chennai commercial space decline

Monday, September 24th, 2012

Chennai commercial space seems to have taken a hit due to uncertain global market conditions.

According to Knight Frank India, the Information Technology(IT) sector has witnessed a decline on the use of commercial office space in Chennai. The office market in Chennai is predominantly covered by the IT and IT-enabled services sector.

In the first quarter of 2011-12, out of the total 1.20 million square foot absorbed, 75 per cent was contributed from the IT and ITeS sector, whereas in the first quarter of this financial year, share of IT and ITeS sector has declined to 48 per centdue to the uncertain global market conditions.

Centurion Avenue: Luxury villas in Chennai

Friday, September 21st, 2012

Artha has come up with Centurion Avenue, an exclusive development at Thiruverkadu in ChennaiIt is just a kilometer away from the Poonamallee High Road.

The project has 2/3 BHK Luxury Villas, with the built up area of 1350 – 1530 Sq.Ft. which comes at an affordable price range.

The project comes with modern facilities like Smart Card based 24-hour security, landscaped gardens, tree-lined avenues, children’s play area and parks, clubhouse, gymnasium, etc.

Residential market growing in western Chennai

Friday, September 14th, 2012

Unlike the highly fluctuating real estate market of other metros, residential market in Chennai has largely remained stable in the past few quarters.

Large scale industrial development in western Chennai has pushed the residential demandthereby increasing the price for residential units. The residential demand in western localities is largely driven by the people working in variousMNCs, automobile companies, manufacturing units and also the recent interest shown by the NRI population.

Many major automobile and manufacturing units are located here which include Hyundai, Nissan, Renault, Hero, Nokia, Samsung, Moser bear have set up in the recent times.

Tapping into the demand, developers like Tata Housing, Vijay Shanti Developers, Godrej Properties, Hira Nandani, Orgadam City developers and Mahindra Developers have entered the real estate scenario.

Landmark Construction to Launch Luxury Apartment in Chennai

Wednesday, May 11th, 2011

Real estate builder Landmark Construction has come up with Vertica, a range of premium luxury apartments and duplexes at the heart of Chennai. The total project cost is Rs. 261 crore. “Vertica” is coming up on 21.25 grounds on the Peters Road  in Gopalapuram, the heart of the Chennai city.

It is 17-storeyed complex and has 82 units of which four would be two-bedroom flats of each 2,000 square ft, 64 three bedroom flat of 2,350 sq ft and 14 four bedroom flats of each 4,300 sq ft, said  Landmark Construction Managing Director T Uday Kumar.




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Suburbs A New Haven For All Sections of People

Wednesday, May 4th, 2011

Demand is moving towards the suburbs due to better infrastructure, larger floor area, lower rentals and parking facilities. Developers are exploring the potential in many western and northern suburbs too.

The construction industry is gearing up to meet the housing needs of the evolving suburbs which have become a new haven for all sections of people, say industry sources. The non-availability of vast chunks of land in the Chennai city is making many builders, including several construction majors, rush to the suburbs to provide ‘affordable’ housing not just for the salaried class but also the affluent.

We can get land only in terms of square feet in the city whereas we can get acres of land in the suburbs. The availability of vast lands facilitates builders to construct 400 to 500 flats at a spot with modern facilities,” says Mr N. Raghunathan, chairman of Builders Association of India.



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Chennai Land Mafia Targets Senior Citizen

Thursday, April 28th, 2011

Lonely senior citizens have become the target of land sharks who enjoy the support of politicians. The senior citizens say Land Mafia have been threatening them to sell their land for building a multi-storeyed commercial-cum-residential complex. A police officer said that land sharks were active since land prices in Besant Nagar had soared to more than Rs 1 crore a ground.

Police say they are receiving an increasing number of complaints from elderly couples living in independent houses on the East Coast Road and in Besant Nagar



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