Chennai Real Estate Forging Ahead
Indias real estate development is expected to grow at a pace of 30 per cent annually. This has a direct impact on the mega cities especially the four metropolitans that provide real estate opportunities to grow manifold. Chennai real estate cannot be far behind.
There has been a huge demand for real estate in Chennai amongst the commercial and residential properties. In recent years the city of Chennai has experienced a complete turnaround in its allround infrastructure. The combined initiatives of the Government of Tamil Nadu and the Central Government are paying rich dividends in terms of approval of real estate projects related to infrastructural upgradations in Chennai.
Tata Realty and Infrastructure Ltd TRIL announced an agreement with Tamil Nadu Industrial Development Corporation TIDCO to jointly develop an IT special economic zone SEZ. TRIL is a new enterprise of Tata Sons Ltd the holding company of the Tata Group.
The SEZ will be implemented in two phases the first phase of 2.30 million square feet will be ready by end2009 and the remaining 1.70 million would be completed by 2011. TRIL has embarked on several projects for real estate and infrastructure development.
Located on a 25acre plot in Taramani the SEZ will include a fivestar hotel or service apartments an international convention centre and help generate direct employment for 40000 people and indirect employment to another 15000. Chennai real estate most certainly contributes in boosting economy of the state.
Not only Chennai Real Estate is developing rapidly along side the government of Tamil Nadu but also foreign developers are showing valuable interest in the Chennai real estate. For instance the Lee Kim Tah Township development in Siruseri near Chennai reflects the success of Singapore companies who have forged successful partnerships with their Indian real estate counterparts.
About the writer: George Gonigal provides you the best and latest information on Chennai Real Estate Builders If you want to Houses for Sale in Bangalore he suggests you log on to magicbricks.com
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