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Chennai
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The City

Chennai is a delightful mix of tradition and modernity, as it embraces the positive influences of a westernized culture while retaining its rich tradition and heritage. Once perceived as a conservative laid back city with a largely salaried middle class, it has shed its inhibitions to catch up with the latest lifestyle trends followed by other metros in the country.

Interestingly, as a port on the Bay of Bengal, the city merchants of Chennai have a history of trade links with South Asian countries. High traffic even now on this route has encouraged investments from Singapore and Malaysia where a large number of Tamilians reside.

The lack of jobs in the city in the 1970s and 80s' forced a great number of its residents to search for opportunities abroad. But with the boom in Indian economy and prospects far brighter now, the number of NRIs turning back home is growing. With their return, the city has witnessed a consumerism that has changed the lifestyle of its residents.

Known for its gorgeous silks and intricate handicrafts, a visitor to the city cannot but submit to the charms that the shopping centres and the enticing cuisine have to offer. Enveloped in an aroma of jasmine and sandalwood, Chennai's bustling markets are a shopper's delight. The reasonable cost of living permits a comfortable lifestyle which any investor with future plans would not complain about.

Infrastructure and Facilities
Foreign investors in India have rated Chennai as having the best infrastructure facilities in India. To support the existing intra city transport, the Chennai Metro rail project is being proposed, with the central government willing to contribute to 20% of the cost of the project.

The Chennai Metropolitan Development Authority is planning a single window clearance to expedite clearance of building plan applications. This service will verify land records, clear building plans, make on-the spot investigations - all at the same window, and has been proposed and supported by all stakeholders in the real estate business.

As Southern India's foremost city, Chennai has excellent health, educational and infrastructural facilities. The city boasts of the best medical facilities in the country, with Apollo, Vijaya and Shankar Netralaya healing patients across the country.

A community which lays great stress on academic excellence, Chennai's literacy rate for males is 84.71 and for females, 75.32. Institutions of repute such as the Presidency, Loyola, NIFT, and IIT are the city's pride.

Foreign investors from Singapore are tapping the real estate Chennai market for profitable investments, and are showing keen interest in sector-specific and multi-product SEZs around the city.

 

 

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