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

2012 saw real estate prices soar and little known areas became hot spots on the realty map. Exorbitant rates were quoted for  lesser known localities and there was sudden mushrooming of flats, gated communities and villas along with several unknown builders surfacing. People with vacant lands entered into joint development with builders and with the profits bought more lands and developed them, thus creating a lucrative businesses.

2013 saw a slowdown to this maddening rush. Property prices and number of flats that were constantly on increase saw a halt through the year. During 2013, 3.5 million square feet of real estate was built and 13,000 units were launched in the city and this is a 15 per cent decrease compared to 2012. The residential sales volume dropped by 33 per cent while office space sales declined by 23 per cent, states a report from Knight Frank, a residential and commercial property consultancy. The current slowdown is attributed to a decline in economic growth, rising interest rates and high inflation.

Cushman and Wakefield, a commercial real estate services firm, estimates that 2014 will see 16,000 completed apartments which will form a cushion for completed houses during the year and will help to pick up demand. The firm also states revival in the high-end properties market like Nungambakkam, Kotturpuram, RA Puram, Poes Garden and Mylapore. The commercial space scenario for 2014 expects an addition of 2.2 million square feet in the suburban parts of the city of which about 1 million square feet is expected to be utilised by IT and ITeS sector,

5 lakh square feet of commercial spaces and the remainder in special economic zones for IT and ITeS.

 

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