Chennai IT companies seek housing
In Chennai, First came the apartments. Then came the `fully’ furnished apartments. Now you have `serviced’ apartments that seek to offer the best of both worlds — home and hotel — to the increasing number of short-stay corporate visitors to the city. Chennai is vibrant with activity across all sectors but demand from the information technology (IT) sector was emerging as the key factor driving demand and leading to a visible increase in the real estate activity. IT sector has a spin off to the residential developments in the southern suburbs of the city as well.Â
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With the geographical growth of the city there is a need for integrated developments offering good quality life and neighbourhood with workplaces and shopping etc in the same premises, according to a report released by Trammell Crow Meghraj Property Consultants.Â
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More than 20 major residential projects are coming up in Velachery and Perangudi side. Middle and high segment housing will see more than 2000 dwelling units coming into the market in the next two years.Â
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If the Mahindra city and Singapore Township were taken into account, another 3000 units would be added by the year 2007-08. In commercial sector, more than 15 million sft of A-grade space was expected to be added in the next two years. Readmore
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