Top Projects - Tamil Nadu

Tamil Nadu is one of the most flourishing real estate markets of South India. The potential for expansion of the property sector here is high. Land prices in the state are rising steadily as people are pushing hard to buy a plot before it becomes unaffordable. Property appreciation is the highest in Chennai, where the market is growing in sync with increasing end user investments. An influx of IT industries and mushrooming BPOs has created a huge requirement for middle income housing in the city. Similarly, Chennai also features some of the best malls such as Shoppers Stop, Spencer Plaza, Lifestyle, Westside, Landmark, Globus, which are planning to further their reach in the city. A shift in focus by a number of real estate developers has brought a significant hike in capital and rental values in the peripheral locations of the city such as old Velachery, Moggapair, Tambaram and Mahabalipuram road. Boosted by the entry of IT majors, Madurai is witnessing frenetic activity in the commercial real estate sector. The demand for housing units in the city is also growing at a rapid pace and is further expected to shoot up after major industries start operations there. Upcoming residential developments The Chennai residential property growth is in tandem with the overall economic growth and the entire real estate segment. Property value is fast appreciating but still affordable to many, and rental rates are far lower than in other cities. Some of the upcoming projects in Chennai include: Brindavan: This project by Marg Properties at Chennai comprises 14 towers of G+14 floors having 936 apartments of 2/3 BHK. The project, providing amenities like club house, swimming pool, gym, etc, is likely to be completed by December 2012. Mapleton: This project, located at Pallikaranai, Chennai, by Appaswamy Real Estates Ltd comprises six towers of G+12 floors having 513 apartments of 1-3 BHK with amenities like swimming pool, gym, club house, etc. Cennet: This is a project by Ramky Estates in Chennai. It comprises G+4 floors having 96 apartments of 3BHK. Along with Chennai, Coimbatore is one of the most happening locales for developers. Around 3,000 apartments are in the pipeline in the city. The presence of educational institutions and availability of water are driving the growth of residential properties in the city. Overall, Tamil Nadu is currently buzzing with real estate activity with a number of projects dotting the state's skyline. Upcoming commercial developments As compared to other commercial centres of the country, property rates in Tamil Nadu are low. Hence, IT industries and other multinational companies prefer to open their offices here. Tamil Nadu is also preferred due to its low operational costs and abundance of land. Additionally, the hospitality industry is currently witnessing the development of hotels like Radisson and JW Marriott. This has accelerated the pace of commercial real estate activities in the state. Some of these upcoming commercial developments include: IT/ITES SEZ: Electronics Corporation of Tamil Nadu is planning to set up an IT/ITES SEZ on 245.17 acre in Madurai. The project will be implemented by ELCOT with an investment of Rs 45 crore. Hilton Garden Inn: Convention Hotels India plans to set up the 200-room Hilton Garden Inn hotel. Opening in 2012, Hilton Garden Inn, Coimbatore is located at Pollachi Road close to the L&T Engineering Campus and other upcoming SEZ developments. Sugar Complex: Rajshree Sugars & Chemicals Ltd is setting up a Greenfield distillery with an installed capacity of around 80 kl per day as part of its 3,500 tcd integrated sugar complex at Semmedu village, Gingee Taluk.