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Time to fast-pace the logistics sector Bridging the skill deficit in pharma industry Schwing Stetter India joins hands with US-based Gomaco Business Briefs Sun Edison launches solar pumps Tata Steel commence operations at Kalinganagar World labour laws at a glance Chennai to get a roundabout Metro Illicit markets a concern to growing economy - Rating of states to be released soon Flexible labour laws… Celebration time at MS Chola ALL to launch electric busses Steel loses its sheen Downsizing spree... Three more leather clusters… Scoot offers just Rs.13,500 to ANZ... Holiday Inn opens in OMR Chennai Applauding enterprise... Realising double digit growth in Tamil Nadu Indigo stays leader with 40 per cent share Techies trip to India ALL – truck industry is recovering from degrowth Research needs more funding When Centre visits the state Inclusive and forward moving... Is Indian telecom industry heading for a monopoly? Connecting the unconnected Business Breif Investor friendly Japan Changing dynamics in human resource management Chennai Port is at last decongested! On the ‘milky’ way STFC raises money Towards peace of mind Reality bytes Well-refined – RIL’s refinery margins zoom Airlines wage price war Ridley marathon to India An aerospace-defence cluster in Tamil Nadu… Brand leaders come forward... Murugappa- a year of consolidation Economic issues take a back seat at G20 summit Big-ticket investments march towards Punjab Curbing steel imports will hurt small business... Automotive Vision Plan II... A global plastic event in India Apple maps – finding its way Hero Motocorp - smooth ride Carrefour’s quick exit Celebrating 180 years of relevance Purdue and IIT-M sign the dotted line More gensets and diesel engines from TAFE Secured NCDs from Shriram City TVS Logistics – another acquisition to sharpen the business model Backpack laboratory Digital retail transactions stabilise at higher level… Need to focus on ease of doing business... Creating Tamil Nadu Banana brand BRICS development bank AirAsia India infuses funds to fight out competition ISRO's 100th mission Innovation that helped Chennai port IFCI to raise NCDs upto Rs 2000 crore Smart controls for cooling large multi-zone spaces ... WABCO’s second Chennai plant Gem of social service... Veritas Finance- financing the unfinanced TCS’ revenues cross Rs 100,000 crore The new look- 4s Verna Indian Bank – global businesses crosses Rs 3 lakh crore... LVB gears to become a financial supermarket TII-challenging year with flat growth People Flow Day- Safety Four daughters and a proud father Focus on self-certification and third party inspection Durga - India’s largest blast furnace; now operational Adding Zest to Scooty ALL-two launches in a row TN budget pragmatic and moderate on fiscal deficit Industry-well poised to invest on expansion An American alliance in the chemical industry? CUB: towards card-less withdrawal Make way for the new and dynamic railways Blue Star plans a new plant in south Nothing to hide... TOP 10 CEO Compensation Striking cords for 25 years… Realty sector takes a break... Chola MS launches motor app Placing the right shoe forward... Housing Innovation Challenge, 2015 Auto test tracks launched at GARC Oragadam campus Pharma market dozes Dynamic e-commerce scenario SumInfra- corridor based development... Nigeria comes nearer Climate change may change the way businesses work... OBO Bettermann for better lightning protection Economic, business and social sustainability Chennai will soon get its World Trade Centre Chola MS net crosses 100 crores Hyundai excites again TII’s single largest investment at Thiruthani TiE applauds innovative entrepreneurs European crisis is a global crisis! ECGC expands operations Waste, a gold mine Strategy war escalates between Hero and Honda
 
Reality bytes

There were times, not long ago, when prices of land and apartments went sky rocketing. Thanks to the Chennai floods and a tight liquidity situation, prices have dropped and settled down to quite realistic rates. Today, Chennai real estate has become a buyer’s market.

The real estate industry has an inventory between 45,000 and 60,000 units in the city and its suburbs. That is, almost no sales has been made in a year and a half. Understanding this trend, several builders are either heavily investing in marketing or giving away built spaces at rates that may come.

VGN builders had offered apartments in Guindy, the heart of Chennai at about Rs 6500 per sq ft against the price of Rs 10,000-Rs 13,000 per sq ft in the area. To bring in liquidity, developers are giving away some of their land parcels as plots. Buyers in the city have preferred plots. The multi-storeyed trend caught quite recently. Hiranandani, TVH, Olympia and Akshaya, a few of the reputed builders, have charted forth this path. Giving away as plots relieves the builder of constructing an apartment and encountering delays and price fluctuations.

Big ticket builders have moved to Chennai.  A slew of buildings are coming up on the peripheries of Chennai.

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