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Chennai - A Leading Light of South India in Real Estate
from: Rajinder DograChennai is a southern luminary in real estate and economy, apart
from Bangalore and Hyderabad. Though the city (Chennai) was
wrecked by the tsunami in December 2004, the stoic as the human
spirit is in India has put the memory on the back burner and
marched on. Chennai's service segment was customarily conquered
by finance and banking principally since numerous multinational
banks had their headquarters or IT systems supported out of
Chennai. Ever since the late 1990s, software development and BPO
have developed into awfully vital and Chennai is now an
essential hub for Software and IT groups. Big names like
Infosys, Wipro, TCS, CTS, Covansys, Saksoft, Thinksoft and
several other IT firms are situated in Chennai.
The software boom and the arrival of expats have augmented real
estate prices in a foremost manner. The government is advancing
the area between Tidel Park and Kelambakkam as a software
corridor. The IT Corridor is in the southeast of the city.
Numerous technology parks have been put up in the locale, the
most important is Tidel Park, fabricated by TIDCO as a
Government enterprise. Quite a lot of businesses have
established their software development and BPO centres in
Chennai.
The water projects announced in the Budget will make Chennai an
attractive destination. Resultantly, property prices to the
south of the city have begun to crawl upwards by 5 to 10 per
cent. Even the coastal suburbs are said to be recording a slow
and steady upward march in property prices.
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