Archive for the ‘Real Estate’ Category

We are ahead of Dubai and Singapore.

Dubai is a little behind us. Singapore, Malaysia.. pfft, quite. Are you asking about what this is about? Land prices my friend, land prices.

While at a friendly get-together yesterday evening, it seemed like all the conversations revolved around the changing landscape of Chennai. I whispered under my breathe to a friend that it seems real-estate is the hot topic for the day, to which he made a public announcement that its always a topic, because either we bought it and are hoping the prices will remain this way (or better yet keep rising), or we cant afford and we are just jealous. I am wondering if there is truth to it – there might be. (more…)

TATA Consultancy Services


You are looking at the biggest Techno campus in Chennai. It is still in the construction phase on the silent sands of Siruseri. (Sorry about the dull light, I couldn’t get here in a decent time ). This, ladies and gentlemen, is the TCS Techno Park in Siruseri built over 70 acres of land. It is estimated to accomodate 15,000 engineers and 5,000 support staff. Cognizant, Xansa, Hexaware, Patni and many other IT Giants occypy the special economy zone, but TCS occupies this in style and grandiose.

The construction is designed by Uruguayan architects – Carlos Ott and Carlos Ponce de Leon. ZonaAmerica, an architectural solution provider of Uruguay, drives the construction in Siruseri from Uruguay. Approximately Rs. 668 Crores is being invested by TCS for this new facility, whose first phase that accomodates 3500 people might be ready before the end of this fiscal year.

Yeah ! Everything about Siruseri is state-of-the-art, except the road. I understand the operations in Siruseri are not in full swing. Yet, thousands of associates drive into this SEZ to make their daily bread. Inevitably, they commute by their company buses and the bus travels both Horizontally and Vertically. These roads are as awkward as they can get.

The 6-way IT Highway ends at Siruseri. Thats good news.. but the road-construction is far beyond. The works have reached only Perungudi until now. It would take more than a year for the works to progress towards Siruseri, unless they intelligently start a parallel work from the ending point.

I wish they start a secretariat there, and ask the Ministers to work from there.

It’s Real-estate time

It’s party time folks. For the property developers, and those who have large pieces of land. A mo nth ago, Economic Times carried a small story which said prices in the residential sector outgrew prices for commercial properties. And now, I know why.

JP Morgan, among other big names, are investing heavily. 400 crores of their money is headed Madras’ way.

J P Morgan Property Fund, which has mobilised over 300 million dollars to focus on Indian real estate, is going to set up a residential project in Chennai, at an estimated cost of Rs 400 crore.

Chennai-based realty developer Arihant Foundations and Housing will develop the residential property, which will be spread over 45 acres of land, in joint venture with J P Morgan.

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