About Chennai

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

Photo: Chennai-Skyline-from-Mount by Karthikeyan321, licensed under CC BY 4.0, via Wikimedia Commons.