Tag: Chennai

CommercialLatest Stories

IndiQube Falls 15% in Trading Debut on July 30

Shares of IndiQube Spaces dropped nearly 15% on their trading debut on Wednesday, as broader markets remained subdued ahead of an impending U.S. tariff deadline. This scenario values the Indian workspace solutions provider at ₹44.13 billion ($506 million). IndiQube’s debut is notable among a dozen Indian IPOs this month, being only the second to list at a discount. The firm raised $80.3 million through an IPO that was 12.4 times oversubscribed last week, showing strong demand from both retail and institutional investors. Its shares opened at a 9% discount to the IPO price of ₹237 in Mumbai and were down…

Housing FinanceLatest Stories

Sundaram Home Finance Q1 FY26 Net Profit at ₹62 Crore

CHENNAI: Sundaram Home Finance Ltd reported a slight drop in its net profits, reaching Rs 62 crore for the quarter of April to June 2025, as announced on Saturday. In the same quarter last year, the company had a net profit of Rs 66 crore. During the reviewed quarter, disbursements increased to Rs 1,488 crore, compared to Rs 1,353 crore during the corresponding quarter last year. The company also noted growth in its Assets Under Management (AUM), which rose to Rs 18,027 crore as of June 30, 2025, up from Rs 14,533 crore a year earlier. In the June quarter,…

InfrastructureLatest Stories

Chennai clears 2 lakh tonnes of building waste in 6 months

Representative Image CHENNAI: The Greater Chennai Corporation has successfully removed 2 lakh tonnes of construction and demolition (C&D) waste over the last six months across all 15 city zones. The cleanup operation commenced on January 7, initially focusing on seven zones before expanding to all after resolving a legal issue. Supported by Premier Precision Surface, the effort now utilizes 168 vehicles, including earthmovers, tipper lorries, and compact trucks, averaging about 1,000 tonnes of waste clearance per day. Officials stated that the waste is sent to recycling centers located at Kodungaiyur and Perungudi, where it is sorted and repurposed into paver…

Latest StoriesRegulatory

Tamil Nadu revises property valuation methods

CHENNAI: To improve transparency and fairness in property transactions, the state government has revised the stamp rule framework, introducing the concept of “composite value” for apartments and flats while allowing more flexible guideline value revisions. The new regulations, which take effect from June 23, represent a significant change in property valuation practices in Tamil Nadu. The reforms enable the valuation committee to update guideline values at any time during the year, rather than being restricted to a specific month. “Previously, revisions were limited to October. If a decision was made in April to adjust values, we had to wait. Now,…

InfrastructureLatest Stories

Chennai’s Third Master Plan Promises City Growth and Height

Representative image created by AI CHENNAI: Residents can soon expect improved proximity to workplaces, more housing choices, and enhanced civic infrastructure. The Chennai Metropolitan Development Authority (CMDA) is developing its third master plan, which will propose increased Floor Space Index (FSI) in key areas, mixed-use developments, and gradual upgrades to support compact, vertical city growth. The upcoming master plan aims to reshape Chennai’s skyline by boosting FSI in strategically identified zones such as metro corridors, entertainment hubs, commercial centers, and industrial zones to encourage vertical development. “We need to optimize urban space. Strategically increasing FSI near metro stations, shopping malls,…

Latest StoriesRegulatory

Madras HC fines GCC commissioner ₹1 lakh for inaction on illegal builds

CHENNAI: The Madras High Court has levied a fine of ₹1 lakh on Greater Chennai Corporation (GCC) Commissioner J Kumaragurubaran, expressing dissatisfaction over his lack of action regarding unauthorized constructions in the Royapuram zone. The first bench, comprising Chief Justice K R Shriram and Justice Sundar Mohan, has instructed the state government to deduct this amount from the commissioner’s salary and deposit it into the Adyar Cancer Institute’s account. The order was issued in response to a contempt petition filed by advocate N Rukmanganthan, who indicated that the corporation had failed to execute a court order dated April 8, 2022,…

IndustryLatest Stories

Chennai Civic Body Halts Iyra Properties Work Over Cracks

Representative image created by AI CHENNAI: Following significant cracks appearing in roads and buildings in Velachery, the Greater Chennai Corporation (GCC) issued a stop-work order to Iyra Properties for damages due to inadequate construction practices. According to a notice under the Town and Country Planning Act of 1971, GCC mandated the realtor to cease work on Seshadripuram First Main Road due to damage observed in roads, buildings, stormwater drains, and sewer systems. GCC indicated that the roadways and stormwater drainage system collapsed as a result of improper piling and shoring practices at the site. IIT Madras has been engaged to…

Latest StoriesRera

Tamil Nadu RERA Bans Flashy Real Estate Ads with New Rules

CHENNAI: Real estate listings claiming plots and homes just three kilometers from Kilambakkam and two kilometers from GST Road, complete with numerous amenities, have saturated social media and highway advertisements. However, following a recent decree from TNRERA (Tamil Nadu Real Estate Regulatory Authority), builders with vague or misleading advertisements may soon face penalties. With this initiative, TNRERA has delivered a clear message to the real estate sector: deceptive advertising practices will no longer be tolerated. The era of unchecked promotional tactics is coming to an end, granting buyers the transparency they deserve. TNRERA now requires that all real estate advertisements—whether…

IndustryLatest Stories

Tamil Nadu launches ‘Deemed NOC’ for planning permits

CHENNAI: Beginning July 1, the state government implemented a time-limited ‘deemed NOC’ system to simplify the process of obtaining No Objection Certificates (NOCs) for planning permissions. This initiative aims to cut down bureaucratic hurdles, enhance transparency, and expedite project approvals, particularly in the housing and infrastructure sectors. “This is the first instance of a state introducing such a system. While the Government Order was issued on October 24, the specific regulations for deemed NOCs are now available. This is a positive development for the housing and related industries, potentially saving three to six months in the NOC acquisition process,” stated…

CommercialLatest Stories

WeWork India Leases 200K sq ft Office in Pune and Chennai

NEW DELHI: WeWork India Management has finalized leases for two new locations: WeWork EON Free Zone in Pune and WeWork Ramanujan Intellion Park in Chennai. The Chennai office occupies three floors within the Littlewood Tower, covering a total area of 150,000 sq ft and accommodating 2,400 desks. In Pune, WeWork has partnered with Panchshil Realty to acquire two floors of workspace spanning 60,000 sq ft, which will house 1,000 desks. Both locations are expected to open in the latter half of FY25. Published On Jun 12, 2025 at 12:30 PM IST Join a community of over 2 million industry professionals.…