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