Tag: Chennai

Latest StoriesResidential

New Building Rule Boosts Sales of Chennai Homes

CHENNAI: Families looking to purchase villas and independent homes in Chennai have reason to celebrate, as the Tamil Nadu government has approved stilt + two-floor buildings up to 10 meters. This modification creates stilt space for parking and accelerates handovers, making villas more appealing to buyers. Developers and investors anticipate that this will generate renewed demand for plotted developments throughout the city and its suburbs. S Ramprabhu, chairman of the DTCP committee at the Builders Association of India, stated that this change will cater to the increasing need for independent homes in Chennai. “Previously, the self-certification was limited to G+1…

CommercialLatest Stories

WeWork India Leases 22,700 sq ft to Chargebee in Chennai

NEW DELHI: WeWork India Management, a flexible workspace provider, has leased 22,000 sq ft to Chargebee, a global billing and monetization company, at WeWork Ramanujan Intellion Park in Chennai. Earlier in 2025, Chargebee relocated its office from Ireland to WeWork 5 Harcourt Road in Dublin. In July 2025, WeWork India secured leases for two centers: WeWork EON Free Zone in Pune and WeWork Ramanujan Intellion Park in Chennai. The Chennai location occupies three floors within the Littlewood Tower, offering 150,000 sq ft of space and 2,400 desks, while the Pune center features 60,000 sq ft in Kharadi. WeWork India is…

Latest StoriesRegulatory

Madras HC Criticizes Chennai Civic Body for Sealing Delays

Here’s a rewritten version of your content: CHENNAI: The Madras High Court has criticized the Greater Chennai Corporation (GCC) as “negligent and indolent” for failing to follow court orders concerning unauthorized constructions. Instead of enforcing lock-and-seal orders, the GCC has been allowing building occupants to explore other options. This case arose from a petition aimed at sealing a building in Virugambakkam. During a hearing on April 3, the court reprimanded the GCC for neglecting a similar petition from 2023. Although the GCC requested four weeks for compliance, the case was not revisited until August 12. Due to the GCC’s inaction,…

IndustryLatest Stories

Abhishek Kapoor Named New CEO of My Home Constructions

NEW DELHI: My Home Constructions, a subsidiary of the My Home Group based in Hyderabad, has announced the appointment of Abhishek Kapoor as the new chief executive officer (CEO), effective immediately. Kapoor recently resigned as group CEO and executive director at Puravankara. “Our goal is to strengthen My Home’s footprint in Bengaluru, Chennai, and Mumbai through innovative products and exceptional customer service,” Kapoor stated. He will be responsible for driving the company’s growth strategy, focusing on business development, land acquisition, sales and marketing, strategic partnerships, and operational execution. My Home Constructions currently has over 50 million sq ft of construction…

IndustryLatest Stories

Brigade Group Leases 9-Acre Plot on Chennai’s OMR

Representative image created by AI BENGALURU: Brigade Group, a prominent real estate developer, has secured a long-term lease for nine acres of land in Perungudi along the Old Mahabalipuram Road (OMR) in Chennai from YMCA. This acquisition stands out as one of the most significant transactions in the city’s IT corridor in recent years. The site, leased for 55 years, is situated in a strategically important area where large land parcels are rare. It has the potential for development of approximately 1.6 million sq ft, according to an insider. Though financial specifics are not disclosed, experts estimate that land at…

CommercialLatest Stories

Tamil Nadu to Launch Special Vehicle for Co-Working Space

CHENNAI: With the planned expansion of co-working spaces throughout the city as part of the chief minister’s project, the state government has established a special purpose vehicle (SPV) and a private company led by a CEO to oversee these spaces. The SPV will operate independently from the government to facilitate the day-to-day management of the co-working facilities. Participants in the meeting—including officials from CMDA, special projects, and the urban development department—indicated that the chief minister aims for all 30 proposed centers to function seamlessly, regardless of changes in government or departmental leadership. Currently, the only co-working center in Kolathur is…

CommercialLatest Stories

DRA & Balajadia Launch $100M Platform for Commercial Development

NEW DELHI: Chennai-based DRA Group has signed a memorandum of understanding (MoU) with the Philippines’ Balajadia Family office to establish a special purpose vehicle (SPV) platform. This 50:50 joint venture aims to develop one million sq ft of grade-A commercial and retail spaces in Chennai and Bengaluru during the first phase, with an estimated investment of $100 million. Ranjeeth Rathod, managing director of DRA, stated, “This collaboration allows us to combine local expertise with global capital to drive sustainable real estate growth.” Lloyd Balajadia expressed enthusiasm, saying, “We look forward to creating landmark developments in India and exploring future collaborations…

IndustryLatest Stories

Ashiana Housing Allocates ₹425 Crore for FY26 Plans

NEW DELHI: Ashiana Housing is set to allocate ₹425 crore for senior living initiatives during FY26. This budget will cover landowner payouts, construction, execution costs, and other project expenses. A substantial part of this budget is targeted at expanding their senior living offerings, with plans to enter the Mumbai, Bengaluru, and Delhi-NCR markets. In FY25, the company invested ₹213 crore in senior living and recorded a booking value of ₹382 crore. “This year, we aim to launch five new phases in our existing senior living projects, which will encompass roughly 5.71 lakh sq ft of saleable area,” stated Ankur Gupta,…

Latest StoriesRera

20% Extra Deposit for Project Registration Extension: TN RERA

CHENNAI: To protect homebuyers and minimize project delays, the Tamil Nadu Real Estate Regulatory Authority (TNRERA) has mandated that developers seeking project registration extensions beyond one year must deposit an additional 20% of the amounts collected from allottees into the designated project account. This directive is issued under Section 7(3) of the RERA Act, 2016, allowing TNRERA to establish terms in favor of homebuyers rather than outright cancellation of project registrations. Officials state this measure ensures that funds collected from buyers are used for construction rather than diverted elsewhere. TNRERA noted that many project delays are due to insufficient funds…

InfrastructureLatest Stories

Piped Cooking Gas to Reach 20,000 Homes in Chennai’s Outskirts

Representative image created by AI CHENNAI: Approximately 20,000 homes along Old Mahabalipuram Road (OMR), Grand Southern Trunk (GST) Road, and the southern outskirts of the city will be equipped with piped natural gas (PNG) within the next 18 months, according to M Thirukumaran N T, regional head (Kanchipuram) of THINK Gas, which holds licenses for the area. The company currently has 5,500 active domestic connections, with nearly 60% located in Sholinganallur, Thiruporur, Thalambur, and Thaiyur along OMR. “We have developed sufficient infrastructure across OMR, sections of GST Road beyond Tambaram, and the southern suburbs. Expansion is actively underway,” he stated,…