Present October 2015 Real Estate Overview: Chennai Chennai, the capital of Tamil Nadu, is located on the Coromandel coast off the Bay of Bengal. It is the fourth largest populous metropolitan city in India; as per 2011 census the city‟s population was 8.7 million. It is also the biggest industrial, commercial and cultural centre of South India. Industry and commerce: Chennai is India‟s second largest exporter of Information Technology (IT)/ IT enabled services (ITeS) and also accounts for 60 per cent of India‟s automotive exports. Medical tourism is also substantial with the city attracting 45 per cent of all health-conscious international tourists and 35 per cent of tourists from within the country. Apart from the existing industrial locations such as Ambattur, Guindy and Maraimalai Nagar, growing commercial corridors are along the Grand Southern Trunk (GST) Road and Old Mahabalipuram Road (OMR). OMR has been promoted as the „IT Corridor‟ by the state government. GST road which connects Chennai and Trichy, is a major special economic zone (SEZ) corridor, key SEZs along this road are Shriram‟s Gateway, Mahindra World City and Estancia. Connectivity: Chennai has excellent connectivity by road and rail to important domestic locations and by air to many international ones. The metro rail connecting Koyambedu to Alandur began operations recently. Planned infrastructural development: Ongoing projects in the city include the six-laning of OMR phase two (about 26 kms) from Siruseri to Mahabalipuram, the Outer Ring Road I which will connect GST Road to Bengaluru Highway (Vandalur-Nazarathpet-Nemilicary) and the Chennai Metro Corridor connecting Chennai Airport with central Chennai. Moreover, on the anvil are the proposed Chennai Monorail Corridor I for better connectivity for Vandalur Velachery Tambaram with city centre, the Chennai Monorail Corridor II which will connect West Chennai via Porur, and the proposed 240 km Chennai Bengaluru Expressway. Real estate development: Existing residential hubs in the city include Adyar, T Nagar, Boat Club, Pallavaram, Valasaravakkam, Thoraipakkam and Velachery. Upcoming residential areas include Padur, Kelambakkam, Kalabakkam, Maraimalai Nagar, Shriperumbudur and Kovur. Growth corridors are around the GST Road and OMR due to the current infrastructural initiatives. Premium locations Adyar, Alwarpet, Besant Nagar, Egmore, Mylapore, Nungambakkam, (Rs.10,000-20,000 per sq ft)* Raja.Annamalai Puram Mid segment to premium Anna Nagar, Kilpauk, Kotturpuram, Saligramam, T Nagar, Thiruvanmiyur locations (Rs.8,000-13,000 per sq ft) Mid-segment locations Ambattur, Arcot Road, Kodambakkam, Korattur, Mogappair, Pallavaram, (Rs.5,000-9,000 per sq ft) Porur , Velachery Affordable locations Chromepet, GST Road, Kolathur, Old Mahabalipuram Road (OMR), Padur, (Rs.3,000-6,000 per sq ft) Perumbakkam, Poonamalle, Siruseri, Thoraipakkam *Source: Industry In terms of commercial real estate, prices are from Rs.7,000-15,000 per sq ft in Anna Nagar, Nungambukkam, Poonamalle, Thoraipakkam and T Nagar. Commercial property prices for OMR are at Rs.3,000-6,000 per sq ft. About CRISIL CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. We are India's leading ratings agency. 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