Chennai: Chennai, was popularly known as Madras till 1996, is the 4th (largest) metropolitan city of India. It’s located on the Coromandel Coast and serves as the capital of Tamil Nadu state. Chennai was named from Chennaipatanam which got its name from the ruler of this region Dhamara Chennapa Nayukudu. Chennai is known as the gateway of the South.
Connectivity:Chennai is connected by golden quadrilateral system of highways. It s connected to the other parts of India by NH-4 linking Mumbai, Pune and Bangalore in the west, NH-5 joining Buwaneshwar in the east, NH-45 also known as the GST road connecting Trichy and NH- 205 terminating at Mandapalle in Andhra Pradesh.
Economy:Chennai s economy is well balanced between manufacturing and service sector diversified into automobile, software, healthcare, hardware manufacturing and financial service industries. It is expected to grow to 100 million dollars economy by 2025. This is 2.5 times higher than the existing. Chennai s Tidel Park is the largest IT park built in Asia
Real Estate Market:Chennai s residential properties is experiencing a steady growth in terms of price supply and absorption. Chennai s real estate shows a price appreciation of 7 % every year. The peripheral areas of Chennai namely properties in OMR, GST, Maraimalai nagar experience a rapid growth phase. Areas like Guindy, Rajiv Gandhi Salai, Velachery, Taramani are expected to have a huge demand for residential unit supply due to the lack of land in the centre of the city.