Mahindra World City Developers, an arm of Mahindra Lifespace Developers, has launched a new phase in the industrial zone of Mahindra World City Chennai with focus on engineering, automotive, logistics, electronics and pharma companies. The new phase, spread around 42 acres, is located in the domestic tariff area (DTA) at Mahindra World City Chennai, which already… Read More »
Technology majors do it globally, and, for a while now, Indian tech players have also been hiring the best architects in the business to make their offices Gen-Y friendly. But now, a bank wants to turn the idea of a ‘traditional bank’ on its head. Yes Bank is designing its upcoming facility in Chennai to… Read More »
Chennai’s four-lakh employee-strong IT and ITeS ecosystem is losing the race – albeit momentarily – to manufacturing and consulting firms that are briskly occupying office spaces during the first half of the current calendar year. Companies such as Renault Nissan, Ford, and other auto-component and ancillary firms and consulting firms like EY took lakhs of sq… Read More »
Chennai is facing a dearth of quality large format office space which could force information technology as well IT-enabled service (ITeS) companies to look to neighbouring States, according to a study by a London-based global property consultancy firm. Kanchana Krishnan, director of the Chennai branch of the firm, said that the shortage of office space is… Read More »
Property developer Embassy Group has emerged as the exclusive co-developer for setting up a 30-acre special economic zone to come up in the city, the company said today. The project, a 30-acre SEZ property, on Thoraipakkam Pallavaram Radial Road in Chennai would be known as “Embassy Splendid TechZone”, it said. The first phase of the project is… Read More »
Just as CNBC-TV18 reported a few months ago, the commercial real estate space in Chennai has suddenly become prime property. Chennai’s IT corridor could soon turn home to a few new names. The last three months have seen the city’s preferred realty corridor turn into a hotbed of commercial deals. It began in February when Ford India… Read More »
A rise in demand for office spaces in the last one year coupled with shortage of new supply in key mi cro-markets has pushed up office rentals across top markets. Rentals in Gurgaon’s rose 13% in the last one ye Cyber City area rose 13% in the last one year while those in Bengaluru’s Whitefield and… Read More »
Embassy Group has partially acquired a stalled SEZ project in Chennai from SNP Infrastructure for an undisclosed amount, two people aware of the development said. The 26-acre property on Thoraipakkam-Pallavaram road is close to the airport. Land on Pallavaram road costs about Rs 20 crore per acre. “The special economic zone project was shelved in 2008… Read More »
Major office hubs in Chennai continues to attract corporate occupies, during the first quarter of 2016, most of the demand for prime office space was driven primarily by the IT/ITeS, BFSI and insurance, engineering and manufacturing sectors, according to a recent CBRE report – India Office marketview – Q1, 2016. Read more: Economic Times
Lack of high quality office space is pushing up rentals in key business districts across the city . Rentals are up between 10% and 12% over the past two quarters, in prime locations like the Ramanujam IT Park, Ascendas and other prominent business destinations. Chennai’s real estate market attracts 4.5 and 5 million square feet… Read More »
