CHENNAI

Formerly Chennai was called Madras. It is the capital of Tamil Naidu India. Its metropolitan area (CMA) is planned to be expanded to cover 8,878 sq. Km. The whole of Tiruvallar and Kancheepuram and Arakkonam taluk in Vellore district is going to be part of the new CMA. In a report by Prop Tiger Data Labs in February 2017 luxury market is going up in Chennai and is slated for completion in 2017. The city gives much regarding massive development in industry and infrastructure. Chennai boasts of some of the best corporate offices that include the best TCS building till date (butterfly-shaped). It is also the center of a lot of industries especially an automobile. It is in reality known as the ‘Detroit of Asia.' According to a report, about 15% of exports of software of India are in the name of Chennai. It is next to Bangalore regarding software export. Some software services and software companies have offices in Chennai. The companies that are located in Chennai are Good life center, DMI, ELCOT, and ITCOT, etc. The government organizations are as in the fields of Energy, Textiles; Rural industries, etc. The presences of these companies have generated employment tremendously for people of Chennai and other places. North Chennai port, Tondiarpet, Ennore port, Perambur, and Madhavaram are the prime residential areas. At this time lack of smooth connectivity has hindered the growth of the residential housing. In these areas or localities live businessmen and those employed in public sector. Central Chennai has smooth connectivity to other places and strategic location and has organized retail along with popular names like Poes Garden, Boat Club Road, T Nagar, Nungambakkam, R A Puram, and Mylapore form central Chennai. Therefore it is not surprising that this area falls in the category of highest property prices in the city. The residential land comprises independent houses, Bungalows. In the recent times, high rates have been seen in the areas like Alwarpe and Anna Nagar. In West Chennai after the saturation of localities in Central Chennai the price benefits are still maintained, real estate demand has gone up in west Chennai. The residential housing is not also satisfactory regarding growth because of lack of organized retail. Real estate demand in West Chennai has soared after the saturation of localities in Central Chennai with price benefit still maintained. Be it the automobile and manufacturing hubs in Sriperumbudur and Oragadam; employment has pulled investors to this area. The growth of the area is hampered because of lack of proper infrastructural facilities. However, office growth is being banked upon to pull in the buying crowd into these areas. The Chennai bypass, as well as the Outer Ring Road, has helped pool in investors through Builders in Chennai The Akashya home has experience of twenty-two years and has twenty-five projects in hand while work is going on in thirteen. Arihant housing has experience of twenty-two years and has twenty projects in hand while there are four projects ongoing. Other builders are Godrej properties, India bulls infra estate, etc.