Commercial realty makes a comeback in Chennai

Just as CNBC-TV18 reported a few months ago, the commercial real estate space in Chennai has suddenly become prime property. Chennai’s IT corridor could soon turn home to a few new names. The last three months have seen the city’s preferred realty corridor turn into a hotbed of commercial deals. It began in February when Ford India inked an Rs 800-crore deal to acquire 28 acres of land for a back-end office. Soon after, Bengaluru-based Brigade Group announced plans to build a World Trade Centre on its newly-acquired 16 acre land bank nearby. A couple of weeks ago, the Embassy Group acquired 26 acres just off the IT corridor, at Thoraipakkam, on which it will build office property spanning 4.5 million square feet.

Read more: Moneycontrol