| Chennai's real estate market is witnessing | | | | |
| unprecedented property rates. Despite this, | | | | Property developers such Bangalore-based |
| the property market is still abuzz with | | | | Prestige and Nitesh Estates too have shown |
| activity. Domestic as well as the foreign | | | | their interest in the city. They have lined |
| investors are still keen on buying property | | | | up a series of new residential and commercial |
| in Chennai. | | | | projects in different localities of Chennai. |
| | | | Prestige Developers plans to set up a value |
| Chennai's real estate is largely driven by | | | | mall in the city at an investment of Rs 300 |
| commercial development, especially on the IT | | | | crore. Ozone Developers, a Bangalore-based |
| corridor. The entry of new IT/ITES companies | | | | property builder, have acquired 42 acres at |
| in the city has given impetus to the city's | | | | Koyambedu for a 5.5 million sq ft |
| property profile. These units look for | | | | development. |
| quality commercial spaces in the vacant plots | | | | |
| space in the city. Professionals occupied in | | | | IVR Prime Urban Developers are planning to |
| the IT, automobile, electronics and | | | | build a business park, resort, deluxe hotel, |
| manufacturing sector are driving the | | | | hospital, college, housing complex and a golf |
| residential property of the city. Hence, the | | | | course near Sriperumbudur in Chennai with the |
| commercial sector is indirectly boosting the | | | | total investment of Rs 2,000 crore. |
| residential demand in Chennai. | | | | |
| | | | These developments are adding glitter to the |
| Additionally, some significant developments | | | | city's profile. Hence, top MNCs, |
| in the real estate segment have impacted the | | | | manufacturing companies, corporate houses are |
| property demand in the region. IT services | | | | considering to open retail or commercial |
| major Computer Sciences Corporation (CSC) | | | | outlet in Chennai. This is yet another factor |
| plans to develop its fourth centre in | | | | that contributes towards a high real estate |
| Chennai. Tata Consultancy services (TCS) is | | | | values in Chennai. |
| to set up their campus on 80 acres of land at | | | | |
| Siruseri Industrial Park on Chennai's IT | | | | For more details on Chennai Real Estate, log |
| Corridor. | | | | on to magicbricks. |