Tag: Chennai

IndustryLatest Stories

Tamil Nadu to set land survey guideline values by June-end

CHENNAI: Tamil Nadu’s Minister for Commercial Taxes and Registration, T Logesh Tamilselvan, has instructed officials to ensure that all land survey numbers in the state are assigned a market guideline value by the end of June. He also emphasized the need for quicker and more user-friendly registration services. The Minister issued these directives during the inaugural performance review meeting for senior officials at the 160-year-old district registrar’s office on Rajaji Salai, Chennai, on Tuesday. The meeting was attended by J. Kumaragurubaran, Secretary of Commercial Taxes, Registration, and Hindu Religious and Charitable Endowments, as well as Inspector General of Registration, G…

IndustryLatest Stories

Chennai Developers Warn of Rising Home Prices Due to Material Costs

A ₹1 crore house may soon see a price hike of about 10% due to a more than 23% rise in construction material costs. Industry experts point to escalating prices of gelatin and diesel, linked to the West Asian conflict, and a supply shortage caused by the shutdown of unauthorized quarries. They caution that these increased material costs are likely to be passed on to homebuyers. Recent price adjustments indicate significant rises in various construction inputs such as ready mix concrete (RMC), M-sand, P-sand, aggregates, and materials for road construction. For instance, the price of RMC has surged by ₹300…

CommercialLatest Stories

TCS Renews Chennai Office Lease: 1.5M Sq Ft for ₹1,420 Crore

MUMBAI: Tata Consultancy Services (TCS) has renewed its lease for nearly 1.5 million sq ft of office space in Chennai, with a total rental commitment of approximately Rs 1,420 crore over a decade. This move underscores the company’s long-term dedication to one of its key operational hubs. This lease renewal stands out as one of the largest reported in India, especially amid rising concerns about artificial intelligence’s effects on employment in the tech sector. Many global and Indian IT firms have reported productivity improvements due to AI-driven automation, sparking discussions about potential workforce reductions and decreased hiring. The lease pertains…

IndustryLatest Stories

Chennai to Issue Building Permits in 27 Days

CHENNAI: To combat bribery and reduce bureaucratic delays, the Greater Chennai Corporation (GCC) has mandated that the town planning department issue planning permissions and building permits within a maximum of 27 days. Officials are prohibited from summoning applicants, architects, or engineers during the application review. According to GCC commissioner Dr. G S Sameeran, this initiative aims to ensure timely service delivery, minimize delays, and enhance transparency for the public. The GCC has the authority, delegated by the Chennai Metropolitan Development Authority, to approve building permits for residential buildings up to two stories and commercial buildings up to three stories, as…

InfrastructureLatest Stories

Ennore Residents Still Affected by Fly Ash Issues

CHENNAI: In the fishing village of Nettukuppam at Ennore, around 150 homes have been facing a persistent issue affecting both health and daily life—dust, wheezing, and wet terraces marked by blackish-grey deposits. The cause? Just a kilometer away, large amounts of fly ash mixed with river sand remain uncleared along the floodplains of the Kosasthalaiyar River, near the North Chennai Thermal Power Station, despite a National Green Tribunal order mandating their removal four years ago. The fly ash particles—residues from burning coal in thermal plants—are leftovers from the 2017 leak in Tangedco’s fly ash slurry pipelines that dumped thousands of…

CommercialLatest Stories

Table Space adds 5 lakh sq ft in Hyderabad; TEC expands 4.65 lakh sq ft in South India

Sure! Here’s a rewritten version of the content: NEW DELHI: Table Space, a flexible workspace provider, has significantly expanded its Hyderabad presence with an addition of over five lakh sq ft of managed office space in HITEC City and Kokapet. The company has secured a lease for four lakh sq ft at Grava Business Park to offer managed workspaces and ready-to-occupy suites. Additionally, they have leased 50,000 sq ft at K. Raheja Mindspace IT Park, conveniently located near the Raidurg Metro Station, and 48,000 sq ft at Aparna Technopolis near the HITEC City Metro Station. In other news, The Executive…

Latest StoriesResidential

Tamil Nadu RWA Calls for Statewide Property Tax Audit

CHENNAI: The Tamil Nadu Alliance of Resident Welfare Associations (TNARWA) has urged the state government to initiate an extensive and transparent audit of residential and commercial buildings. They assert that widespread property tax evasion and corrupt assessment practices have resulted in revenue losses amounting to hundreds of crores of rupees. The federation is calling for regular inspections of properties owned by MLAs, councillors, and other political figures. Additionally, they seek stringent action against both tax evaders and revenue officials who fail to conduct impartial assessments. “Given the state’s declining financial health and the difficulty in fulfilling various welfare commitments made…

Latest StoriesRegulatory

ITAT Rules: Registered Sale Deed is Sacred

CHENNAI: A registered sale deed carries a strong presumption of authenticity and validity. The Income Tax Appellate Tribunal (ITAT) in Chennai highlighted that registration is a significant act that confers a high level of trust to the document. The tribunal, consisting of judicial member Aby T Varkey and accountant member S R Raghunatha, made this remark while overturning an order from an assessing officer who dismissed a sale deed as proof for the purchase of a flat, which also impacted the long-term capital gains exemption from the sale of a property and subsequent reinvestment in another residential property. This case…

CommercialLatest Stories

Awfis Leases 114K Sq Ft in Chennai; TEC Opens 9,500 Sq M in Riyadh

Here’s the rewritten content: Representative image NEW DELHI: Awfis Space Solutions, a provider of flexible workspace solutions, has opened two new centers in Chennai. The Olympia Crystal center in Guindy covers approximately 56,360 sq ft across four floors, while the DLF Cyber City center offers a chargeable area of 57,802 sq ft. These new locations expand the company’s total presence in Chennai to 28 centers, totaling around 875,000 sq ft. Awfis now operates over 200 centers in 18 cities. In another update, The Executive Centre (TEC) has announced the launch of a new center in the King Abdullah Financial District…

Latest StoriesResidential

Hyderabad tops South India’s luxury market with ₹8,562 crore sales

Representative AI image NEW DELHI: In fiscal year 2026, Hyderabad recorded transactions totaling ₹8,562 crore for homes priced over ₹10 crore, establishing itself as the largest market for ultra-luxury housing in South India, as per a report by India Sotheby’s International Realty and CRE Matrix. The city surpassed Bengaluru significantly in terms of sales value. Bengaluru, however, achieved the fastest growth in this segment, with unit sales increasing by 52% year-on-year, rising from 84 units in the previous fiscal year to 128 units in FY26. The total transaction value in Bengaluru for this period reached ₹1,957 crore. The report noted…