Tag: Chennai

Latest StoriesResidential

Nayanthara Purchases ₹31.5 Crore Duplex in Poes Garden, Chennai

File Photo South Indian actress Nayanthara and her husband Vignesh Shivan have purchased a duplex apartment in the Legacy project at Poes Garden, Chennai, for ₹31.5 crore. Data from Zapkey indicates that the property was acquired from Landmark Metro Projects. The transaction valued the property at ₹21,946 per sq ft, with Nayanthara owning 90% and Vignesh the remaining share. The unit, which occupies the 4th and 5th floors, covers a super built-up area of 14,369 sq ft, with an undivided land share of 5,308 sq ft and eight covered parking slots. The market value is recorded at ₹40 crore, attracting…

Latest StoriesRegulatory

Credai Challenges Pallikaranai Construction Ban in Madras HC

CHENNAI: The Confederation of Real Estate Developers’ Associations of India (Credai) has approached the Madras High Court to challenge a National Green Tribunal (NGT) ruling that bans construction activities within a 1km radius of the Pallikaranai marshland. This ban will remain until a comprehensive scientific study is conducted to identify the wetland’s zone of influence. The first bench, including Chief Justice Manindra Mohan Shrivastava and Justice G. Arul Murugan, has admitted the plea and instructed the Chennai Metropolitan Development Authority (CMDA) and the state forest department to respond within four weeks. According to the petitioner, the NGT prohibited approvals or…

IndustryLatest Stories

Odisha Officials Visit Chennai for Affordable Housing Insights

BHUBANESWAR: A delegation from the Odisha government recently visited Chennai to explore affordable housing and urban habitat programs backed by the World Bank and the Asian Development Bank (ADB), according to an official statement released on Friday. Led by Usha Padhee, the Additional Chief Secretary of the Housing and Urban Development Department, the team aimed to understand successful models of affordable housing delivery, institutional strengthening, innovative financing frameworks, and sustainable urban habitat development in Tamil Nadu. During their visit, Padhee, along with officials from the Odisha Urban Housing Mission (OUHM), engaged in detailed discussions with senior representatives from the Tamil…

Latest StoriesResidential

Chennai’s Rental Market Challenges for Single Women

Representative AI image Women renters in Chennai are contending with moral policing and broker harassment, despite an increasing acceptance in the rental market. For Priyanka M, who relocated from Tiruvallur, it took six months and nearly 60 house viewings to finally find a rental in Egmore. Shreya P, now living in T Nagar after moving from Salem, faced different challenges, including harassment from brokers and scrutiny regarding her profession and lifestyle. Although data indicates that the city is becoming more welcoming to independent women renters and proptech platforms are emerging to limit broker interference, the reality remains challenging. Many house…

Latest StoriesResidential

Chennai Residents Fight Ban on Building Permits Near Marsh

CHENNAI: Thoraipakkam residents demonstrated on Saturday along 200-Feet Road, opposing the CMDA’s decision to suspend building permits within a 1km radius of the Pallikaranai marshland. The Federation of Thoraipakkam Residents Welfare Associations stated that this restriction significantly impacts owners of approved plots and patta lands across various localities along the OMR-IT corridor. More than 200 residents joined the protest, urging the state government to reconsider the circular and protect the rights of individuals who purchased approved housing sites. Protesters called for the removal of encroachments in the marshland instead of enforcing restrictions on already approved residential areas. “Around 1 lakh…

IndustryLatest Stories

TVS Emerald Secures ₹425 Crore from IFC for Housing Projects

NEW DELHI: Realty company TVS Emerald has secured Rs 425 crore in equity funding from the International Finance Corporation (IFC) to finance new housing developments. Part of the TVS Group, TVS Emerald announced on Thursday that these funds will assist in the development of two upcoming residential projects, set to launch in the next fiscal year in Chennai and Bengaluru, along with additional projects in the pipeline. The company will allocate Rs 136 crore for the Chennai project and Rs 103 crore for the Bengaluru project. The remaining funds will support further residential ventures over the next two years. The…

IndustryLatest Stories

Prestige Group JV Acquires 16.38 Acres in Chennai for ₹561 Crore

Representative AI image NEW DELHI: Prestige Estates Projects Ltd, through its joint venture, has finalized the acquisition of a 16.38-acre plot in Padi, Chennai, for Rs 561 crore to develop a real estate project. The land is being sold by Sundaram-Clayton Ltd. Canopy Living LLP, a collaboration between Prestige Estates Projects Ltd and Arihant Foundations & Housing Ltd, has entered into an agreement for this land parcel, according to a regulatory filing dated January 8. This purchase aligns with Prestige Group’s strategy to enhance its presence in premium urban areas. Sundaram-Clayton Ltd also communicated to the exchanges that on January…

IndustryLatest Stories

Sundaram-Clayton to sell 16.38 acres in Chennai for ₹560 crore

BENGALURU: Sundaram-Clayton Ltd has entered into an agreement to sell a 16.381-acre land parcel in Chennai to Canopy Living LLP, a joint venture of Arihant Foundations & Housing Ltd and Prestige Estates Projects Ltd, for approximately Rs 560 crore. This move is part of their strategy to monetize non-core assets and enhance value. In a regulatory filing on Thursday, the company announced it executed the Agreement to Sell (ATS) on January 8, 2026, for the property located in Korattur village, Ambattur taluk, a well-connected residential and industrial micro-market in northwest Chennai. Completion of the transaction is anticipated by February 11,…

Latest StoriesResidential

Fixed Fee for Property Tax Name Transfers in Tambaram

CHENNAI: In an exciting development for property owners, the Tambaram City Municipal Corporation (TCMC) has reduced fees for property tax name changes and standardized charges from January onwards. Previously, fees were based on the property’s market value, leading residents to pay between ₹15,000 and ₹40,000 depending on their property’s size and value. Going forward, a flat fee of ₹500 will apply for residential properties, while non-residential or commercial properties will incur a charge of ₹1,000. “Greater Chennai Corporation (GCC) charges only ₹500 for property name transfers. Tambaram’s decision to adopt a similar model will significantly lower costs for property buyers…

Latest StoriesResidential

Stamp Duty Relief for Homebuyers in Tamil Nadu

CHENNAI: Homebuyers in Tamil Nadu purchasing first-sale apartments and villas will benefit from new regulations allowing them to use stamp duty and registration fees previously paid on construction agreements (made before December 1, 2023) as a set-off against the composite value of land and buildings during sale deed registration. According to the new directive, buyers registering composite sale deeds for first sales of apartments, villas, or similar properties can deduct the fees paid on earlier construction agreements for the identical structure. This applies to sales registered from December 1, 2023, onward, provided the construction agreements were registered before November 30,…