Real estate in Chennai

Chennai, as it is known today is one of the four major metropolises in the country. The pace at which the obscure fishing village of Madraspatnam has grown and developed into one of the fastest developing cities in the country namely, Madras, is truly amazing.

When talking about Madras, pictures of the Tidal Park flash alongside priests clad in traditional attire, astride the latest two wheeler with a mobile phone tucked in at the waist spring up to mind as spontaneously as a silky soft idli that slides down your throat at an ancient eatery and a place where authentic Italian pizzas are available at almost every street corner. Yes, Chennai paints the perfect picture of harmonious co-existence of cultures. Examples of it are evident in every sphere of the life in the city. Be it architecture, food, fashion, lifestyle or mind-sets.

Another striking element about this city is the fact that it has retained an unadulterated version of its socio-cultural and religious characteristics despite strong European (especially British) influence. The capital city of Tamilnadu had always been a political and cultural hotspot. It has also been the hub of economic activity because of its natural geographical advantages. Ports and harbours made Chennai a great place for conducting and also controlling sea trade (which was the most popular form of trading in the years gone by).

Chennai today is a thriving, pulsating metropolis with giant flyovers, high-rises and some of India's most important industrial houses have set up businesses here. The city has a very heterogeneous mix of architectural styles, ranging from the famous temple architecture to its colonial counterparts seen mainly in government offices. Then there are magnificent examples of modern architecture, which can be seen in the millions of malls, hotels and corporate buildings that are spread across the length and breadth of the city.

The industrial area is located primarily in the northern part of the city whereas; central Chennai is the commercial hub. The southern and western parts of the city which were predominantly residential areas even in the recent past are expanding rapidly to accommodate commercial spaces- especially, the Information Technology industry and financial companies.

The colonial legacy of Chennai is apparent in the vicinity of the Chennai port. Georgetown, on the other hand which is just a stone throw away is a bustling commercial centre, but its architecture is significantly different from areas closer to the Fort, with narrower roads and tightly packed buildings. Nothing much has changed in this part of the city.

Areas like Ashok Nagar, KK Nagar and Anna Nagar which are situated in the western stretch of the city and several areas south of the Adyar River, including Kotturpuram Besant Nagar and Adyar itself, started developing only in the 1960’s. Many of these places which were remote suburbs have developed into some of the prime areas in the city today.

The industrial growth in the state (mainly automobile and information technology) has led to an increase in demand for both commercial and residential land. In fact, this is the main reason for the expansion of the city.

More people, more jobs and hence more prosperity and better lifestyles. These are the reasons that have contributed significantly to the growth and expansion of the city. More importantly, to the flourishing of the real estate industry.

Today, the skyline of Chennai looks very different from what it was even a couple of years ago. Beautiful independent houses with well kept gardens have made way for high-rises (some of which are architectural marvels in their own right), Spencer Plaza which was the first shopping mall in the city has found several companions or may be competitions, the I.T and hospitality industry have engulfed large areas of the available land. In other words these changes are a perfect illustration of the fact that “the old order changeth yielding place to new” and since change is the only permanent thing in life, Chennai is definitely headed in the right direction.

Chennai’s skyline is fast changing. Today there are more shopping malls, hotels, fly overs and commercial buldings in Chennai than ever before. The city has grown and expanded- embracing what was once known as the outskirts. With industry booming and the demand for real estate escalating the city will continue to grow expand!