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1. Investment insights of
CHENNAI PROPERTY

2. INVESTMENT INSIGHTS OF CHENNAI PROPERTY
CHENNAI 1.0
Madras in the 1600s was a cluster of scattered hamlets, each settlement having grown around a temple as its
nucleus and with its own unique history. Mylapore was by far, one of the most prominent areas of the time.
Around 1733, the congestion in George Town, a business hub led to the weaving community migrating to
Chintadripet and Collepetta near Tiruvottiyur, since abundant open space was available for their trade.
Triplicane also grew in importance, but second only to George Town. St. Thomas Mount
grew in its religious significance, and Mount Road became prominent with the construction of the Marmalong
Bridge in 1724. Once the Corporation, the civic body that governs Chennai as we know it today, was
established, the city was divided into 8 divisions and the Government selected 4 Commissioners from the
resident communities. The railway line from Royapuram to Arcot was laid in 1864. To facilitatetrade, the
harbour – strategically positioned to the east of George Town – was completed in 1896. Some of the important
milestones during the period 1901 to 1941 included the commissioning of the electrified suburban meter-
gauge railway line between Beach and Tambaram in 1931, giving a fillip to the development process of
suburban areas, and the development of the area occupied by the long tank at Nungambakkam as a planned
residential neighborhood by the Corporation.
The population of the city rose to 8.6 lakh by 1941. The city occupied an area of about 80 sq.km.
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3. CHENNAI 2.0
From a macro-level perspective, the growth of the city of Chennai has been predominantly focused in its
southern and southwestern areas, thanks largely to the new developments on East Coast Road, Old
Mahabalipuram Road and other regions of excellence like Sriperumbudur that have attracted many foreign-
based companies to set up shop here. The rapid pace of growth has led to a corresponding but serious
demand for better intra-city transportation to help people commute between their places of work and
residence. Besides, the economic boom has resulted in an increased demand for urban space, leading to
skyrocketing land prices.
CHENNAI 3.0
The five urban nodes of Greater Chennai: Metro cities in the making
Urban Node 1 – Madurantakam: Kancheepuram district, well-known for its temples and silk Sarees is located
on the north-eastern coast of Tamil Nadu. Spread over a total geographical area of 4,43,210 hectares and a
coastline of 57 km, the district is divided – for administration purposes – into 3 revenue divisions comprising of
8 taluks with 1214 revenue villages. To facilitate development, it is divided into 13 development blocks with
648 village Panchayats. Madurantakam is one of the taluks of Kancheepuram and is located towards the
southwestern part of the district. According to 2001 census figures, Madurantakam taluk had a total
population of 254,845, about 9% of the total district population.
In terms of its prospects for future development, Madurantakam has been identified as one of the potential
urban nodes, thanks to its connectivity by road and rail with various districts in Tamil Nadu and Puduchery
Union Territory.
Urban Node 2 – Sriperumbudur: Another taluk in Kancheepuram district with a total population of 316,918,
Sriperumbudur has already seen a number of big-ticket investments both from the State and
Central governments, as well as multinational companies. Towards strengthening various sectors such as
housing and health among others, more investment is required in this urban node.
Additionally, the State government is also focusing its attention on improving the road sector in the
region.
Urban Node 3 – Tindivanam: A municipality town in the Villupuram district of Tamil Nadu, Tindivanam taluk
had a total population of 413141, according to the 2001 census. This has also been identified as one of the
potential urban nodes for development, being strategically connected by road and rail with
several districts across Tamil Nadu and Puduchery Union Territory.
Urban Node 4 – Arakonam: One of the taluks in Vellore district, the 2001 census pitches Arakonam total
population at 459,643 persons. Agriculture is the predominant occupation; however a superior road and rail
network connecting the taluk with districts in Tamil Nadu and Andhra Pradesh has encouraged heavy
industries to set up base in and around Arakonam.
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4. Urban Node 5 – Ponneri: Part of Tiruvallur district, Ponneri taluk has a total population of 331,406 (2001
census figures), about 12% of the district’s total population. Ponneri is situated close to the Ennore port, and
the backwaters around it can be developed from a tourism perspective. Besides, the State government has
focused its efforts into improving the infrastructure in the area.
CHENNAI – OVERVIEW
Chennai, the capital city of Tamil Nadu, is spread over a total area of 1,177sq.km.(metropolitan area) with an
estimated population of approx. 8.66 million in 2010. The physical infrastructure of the city is fairly well
developed with reasonably good roads, railways, air and sea transport networks. Chennai‟s airport provides
both domestic and international connectivity and is located off GST Road, and 16 km from the city center.
Chennai is the third largest commercial and industrial centre in India, and is known for its cultural heritage and
temple architecture. The city, known as the „automobile manufacturing hub‟ of India, is a preferred
manufacturing destination with over 35% share of India's automobile industry. According to a survey by Cyber
Media and Tholons, Chennai is one of the 6 cities from India and one in top 8 cities in the world featuring in the
emerging outsourcing destinations.
Chennai serves as the manufacturing base of large multinationals like Ford Motors, Hyundai, Saint-Gobain,
Nokia and Flextronics. It is also home to IT/ ITES majors like Infosys, Wipro, Polaris, Accenture, I-Flex, TCS,
Cognizant and many more companies.
GROWTH CORRIDORS OF CHENNAI
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5. Chennai City may be divided into above corridors based on homogeneous industries in and around the area.
The above map highlights the key growth corridors of the city:
a. The IT Corridor
IT Corridor is a major road in suburban Chennai, India,
beginning at the Madhya Kailash temple in Adyar and
continuing south till Mahabalipuram, ultimately merging with
the East Coast Road. This is popularly called as the 'IT
Corridor' because this stretch has become home to many
IT/ITES companies.
The IT Corridor Project is being implemented in two phases – Phase-I(20 km) between Madhya Kailash
Temple Junction and Siruseri, and Phase-II(26 km) between Siruseri and Mahabalipuram. The 2.1 km long
ECR Link Road connecting IT Corridor at Sholinganallur and East Coast Road at Kudumiyandithoppu is also
included in Phase-I. As part of the Phase-II, two bypasses would be provided in Kelambakkam and
Thiruporur. With the commissioning of Phase I, the travel time from Madhya Kailash to Siruseri has been
reduced by half an hour.
The prestigious TIDEL Park is home to a number of BPO and IT/ITES companies. Almost all major IT/ITES
companies like Satyam Computer Services, HCL Technologies, Tata Consultancy Services, Accenture India,
TECCI Park, Wipro Technologies, Cognizant Technology Solutions, Scope International, Photon Infotech,
Polaris Software Lab, and Infosys are situated along the IT Corridor. Prominent Government Institutes and
technical/ educational institutions are also situated along the Corridor. The corridor stretches from Tidel Park
in Tharamani to SIPCOT IT Park in Siruseri. All IT bigwigs like Infosys, TCS, CTS have their own facilities in
the It corridor.
Besides, Small Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) has developed a Cyber City,
spread over 2000 acres (8 km²) in Siruseri, abutting the IT Corridor. A number of IT/ITES Companies are in the
process of setting up their facilities in the Cyber City
The burgeoning population of information technology professionals is having a logical influence on real estate
development, with a slew of residential apartments coming up along the IT Corridor. The total investment in
such projects in this area is estimated at a whopping Rs 550 crore. There are currently about 70,000 people
employed in the IT and BPO companies along this corridor alone. The impetus for real estate development
has come from projections that about an additional one lakh people will be employed in the IT belt in the next
one to two years.
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6. b. Mixed Corridor
GST Road is one of the first roads on the outskirts of the city to witness
development many decades ago. Better road and rail connectivity, proximity
to airport, availability of water in plenty in many of the localities have made
people opt for residential accommodation near GST Road.
The workforce of the industrial belt at Maraimalai Nagar, Padappai and Oragadam areas finds living along the
GST Road more convenient than in localities near their workplace. The areas had witnessed a flurry of
construction activity in 2006 and 2007, leading to an increase in the availability of housing stock.
GST road is a preferred destination for middle class families who continue to opt for residential
accommodation.
c. Manufacturing Corridor
Sriperumbudur, which is also known as Detroit of India has seen rapid industrialization, attracting huge
investments due to its proximity to Chennai port, infrastructure growth, establishment of STPIs and SEZs and
availability of quality manpower.
Hyundai was one of the initial investors when they established their Indian car operations in 1999 in
Sriperumbudur. Later, Saint-Gobain and Nokia, Ford, Hindustan Motors, Mitsubishi, BMW and lately Nissan
set up operations turning this Chennai suburban town into a large scale industrial hub. As of 2008,
Sriperumbudur is a special economic zone with more than $2 billion invested by companies like Flextronics,
Foxconn, Jabil, Dell and Samsung. The town is also regarded as India's answer to Shenzhen, China,
although it is not yet a SEZ. Every month, Sriperumbudur corridor is often reported in the news for some new
industrial projects. The industrial corridor between sriperumbudur and oragadam is rapidly developing with
plenty of apartments by giant developers.
d. Warehousing & Supply Chain Corridor
The NH-5 & TPP Road being strategically located in good proximity to the sea port and railway station is an
established Logistics & warehousing corridor in the city. Logistics traffic by road has been growing at a
compound annual growth rate of 7.5%. Key Logistics & Warehousing functions include transportation,
Freight-Forwarding, and some value-added operations like Management of Information Systems (MIS).
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7. COMPARATIVE CHART OF CHENNAI’S CORRIDORS
Corridor Name Profile of the people Living Standards Cost of Property
IT Corridor IT professionals, white Good Road Connectivity, Most expensive and highly
collar employees and Serenity, Rich living appreciating land parcels
Students conditions than any other corridor of
Chennai
Mixed Corridor Mix of white Collar & blue Good Road & Rail This corridor is next
collar employees. Includes Connectivity. Mixed bag expensive corridor after IT
some of the IT companies living conditions with all corridor. It is also
economic sections considered as a very hot
destination for residential
investments
Manufacturing Blue collar employees with Good Road Connectivity. This corridor is next hot
Corridor very little percentage of The area is dominated by destination for residential
expats & white collar blue collar employees property after Mixed
employees since it is a manufacturing Corridor
corridor
Supply Chain & Transporters, Blue collar Good Road Connectivity. This corridor has lowest
Logistics Corridor employees property prices. Scope for
land appreciation is also
very less
1. Real Estate Investment Options
Property Investment is the talk of the day as it offers better returns on
investment than any other investment option. Residential properties in
particular are certainly rewarding than any other property investment
opportunity. There are several options in the market that are equally
rewarding as the residential properties. Alternatives include
Residential and Commercial plots and Commercial office space.
Commercial retail space is one option which can be decided depending on the location and builder.
Ÿ This option offers little rental appreciation.
Ÿ Investments in these avenues are huge and remain blocked for a while as a result of which you may not be
able to exit.
Ÿ The commercial properties may require modifications since companies look for ready to move properties
Ÿ May not be suitable for most of the property Investors because of the ticket size – Not a viable option
Residential plot is the best option for property Investment because of the following reasons
Ÿ Buildings Depreciate over a period of time, while Land only appreciates”
Ÿ The lifestyle of living in apartments can’t match the lifestyle of living in an own piece of exclusive land &
house
Ÿ Purchasing a piece of land and constructing your own house is always a cheaper and better option. We
can construct our houses according to our own tastes and requirements. Where as in apartments, its only
compromise!!
Ÿ Plots and Independent houses have always had better appreciation than apartments
Ÿ Plot owner will have redevelopment rights on his property. On the other hand, in most group housing
projects, apartment owners do not have this kind of right.
Residential Apartments
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8. 2. The benefits of living near recreational areas
If given a choice to live in a crowded, noisy street or near a peaceful, green park, you would instantly pick the
second. And you would be right. After all, who would not want to live near a lush, pleasant Park or Recreational
Area?
There are innumerable advantages of living near a green zone. Recent studies have shown that people living
near Parks and Recreational Areas are more active. Living near an open green space encourages people to
walk around more, ride bicycles and such people are less prone to obesity and weight issues. The presence of
green zones and parks nearby reduce the green house effects and offer a natural unpolluted environment
which is beneficial for your body and mind. This is applicable to children, teenagers and adults. The presence
of a green and healthy environment like a park or a Recreational Area has positive effects on the mental level
as well. People living in the vicinity of parks are more relaxed and show less signs of stress and worry.
If your house is located near a park, then your property will have an ‘Increased Market Value’. The value will
depend on a variety of factors like the size of the park, distance of the park from your property, details of the
neighborhood etc. Such locations have economic advantages to the municipal or civic governments too.
People living near parks enjoy many economical benefits that are unknown to urban residents.
A house that has a beautiful and peaceful park nearby will immediately grab the attention of prospective
clients if the property comes on the market. People are always looking for a house that is an ideal retreat from
crowded and noisy streets.
The advantages of living near a park are countless, enabling anyone to effortlessly answer the above
mentioned question. A house near a lush green park with fresh air and zero pollution is everybody’s dream
and you should definitely keep these points in mind when looking for properties in the market.
3. A must process to go through before purchasing a plot
When we think about Property Buying in Chennai, the first thing that comes to mind is the reliability of the deal.
Everyone wants to make sure that they only get the best Property Deal, so as to ensure that their hard-earned
money doesn’t go in vain. Indeed, most of us have worked our lives out, saving the money only to buy a dream
property. And when the opportunity comes, you can get deceived of all your savings without having the faintest
idea of what exactly happened. In order to avoid such unfortunate situations, we need to go through the
following process.
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9. Step 1: Research, Research and Research
Do extensive research on growth corridors of your city. There are many reports/articles available on internet
on very high potential growth corridors. After decent amount of research, you could able narrow down few
pockets, which are suitable to your requirements based on your working/living area.
Step 2: Identify Potential layouts in the narrowed down areas
Once again thorough research is the mantra. The best option is to stick to reputed promoters. Even though
reputed promoters might be bit expensive, their adherence to fulfill the promises to safeguard their brands is
always a safe bet. After all, it is a life time investment.
Step 3: Visit the layouts personally and see the appreciation value with your eyes
No matter how much research we do on the internet, it may not help us to understand the potentiality of the
area. A physical visit is what all is required. Traveling to nearby places of the layouts will give you the brief idea
of possible returns. Also, direct interaction with the nearby community will give you more insights on the
particular area
Step 4: Show and talk to your family and known circles
Before making a decision, Show the place to your family members and know circles and take their opinions.
The idea is to make as much noise as possible. You will come to know about any misrepresentations if any by
doing this.
Step 5: Collect the documents and take a legal opinion from Advocates
Step 6: Negotiate and make a deal
4. Why to purchase from a reputed promoter?
Every Indian wants to be the owner of his or her piece of land or plot. However, it is essential to know about the
promoter of the property. There are number of cases of fraudulent/misrepresentation in Indian real estate
transactions. Just finding the right location or layout is not enough; one needs to be very careful with the seller
since there are numerous ways to cheat the purchaser. It takes a complete background check on the
seller/promoter before completing a clear transaction. Following are some of the reasons to purchase
property from a reputed promoter.
1. Reputed promoters will have an obligation to fulfill the promises committed while selling the property
2. Big players spend more time, money and efforts to continuous search for better locations which have bright
future prospects in terms of living conditions and return on Investments etc
3. A small case on a reputed player may end up with huge compensation to the end user. Ultimately resulting
in clean and better transaction with the end user
4. Reputed promoters spend crores of rupees on brand building. They won’t take the chances of spoiling the
brand equity by providing an ill deal/transaction
5. Reputed players will always have better deals while purchasing land parcels. This sometimes helps them
to offer a better deal than the small time players
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10. 6. Superior amenities and facilities such as club house, roads, maintenance, security, blacktop roads and
street lights are only possible with reputed players
7. Most of the small time layout promoters sell the amenities earmarked plots, which belong to the entire
association of the layout. This may not be the case with reputed promoters
8. Dealing with professionals is always better than dealing with non-professionals. It offers peace of mind
while going through the transaction process
Though it might be a bit expensive proposition dealing with reputed promoters, it offers clean, transparent and
happy transaction. After all, it is a once in lifetime investment.
5. Documents to be kept ready before approaching for a loan
The first step to acquiring a property for any salaried person is to apply for a land/home loan. There are some
documents that the banks or other financial institutions ask for before sanctioning Home Loans. The following
papers with completely filled Application Form need to be submitted:
1. A Photo-Identity Proof
Ÿ Driving license
Ÿ Passport
Ÿ PAN Card
Ÿ Ration Card
Ÿ Letter from a recognized Government authority
2. Income Proof for Self employed Individuals
Ÿ Brief description of business
Ÿ Papers of Tax Returns
Ÿ Registration Papers
Ÿ Copies of balance sheets
3. Income Proof for Salaried Individuals
Ÿ Pay slips
Ÿ Appointment letter
Ÿ Taxation documents
Ÿ Documents Required While Buying A Home:
There are a few papers that you must collect from the seller before signing the deal to buy a property. These
documents ensure that you do not get cheated. Also it is intelligent to get these documents checked by
professional experts such as advocates or land consultants. The list of the documents includes:
1) The Original Property Agreement Document
2) Property Title
3) DTCP approval copy or CMDA approval
4) Site layout copy
5) Commencement certificate (issued by the Municipal Corporation of the area)
6) Chitta/Patta/Adangal
The best way to complete the paperwork on time is to take assistance of reliable Placement Advisors. There is
no dearth of Property Agents that offer assistance to people. However, one should conduct an online search
properly and rely on a company that has a unique online identity and maximum visibility on internet
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11. 6. NRI's guide to buying Property in India
It is a dream for any Indian to buy a piece of land in India. Infact, most of the property investments are by NRI’s.
Traditionally, Indians are found of owning a piece of land. Indian laws, over the years, have changed to
accommodate NRI’s aspirations to own a piece of land. The Reserve Bank of India regulates all the property
transactions and all such transactions also fall under the purview of Foreign Exchange Management Act
(FEMA).
The definition of NRI according to FEMA is an NRI is a citizen of India who is resident outside India. A non-
resident Indian can buy either a residential property or a commercial property in India. Also, An NRI can
purchase any number of residential or commercial properties. But, there is a small restriction that an NRI
cannot buy agricultural land, plantation land or a farm house in India. He cannot even acquire such property
as a gift. One small exception is an NRI can inherit such property.
NRI’s can pay for these transactions either by way of funds remitted to India from abroad through regular
banking channels or through the balance in the NRE, NRO or FCNR Account. For such transactions, NRI’s
need not have to take permission from RBI.
According to the Indian Income Tax Act, If Any person (resident or NRI) owns more than one house property,
only one of them will be deemed as self-occupied. There will be no income tax on a self-occupied property.
The other one, whether you rent it out or not, will be deemed to be given on rent. If you have not given the
second property on rent, you will have to calculate deemed rental income on the second property (based on
certain valuations prescribed by the income tax rules). The same rule applies even if the NRI holds two
houses in two different countries. For example: If an NRI is a resident in USA and lives in his/her own house in
USA and owns a house property in India, he is liable to pay income tax on the deemed rent amount to Income
tax department. The deemed rent is determined by certain valuation rules prescribed in the Income Tax Act.
Even the inherited property attracts the Income tax on rent received.
NRI’s can also access property loans for a buying property in India. According to Reserve Bank guidelines,
the NRI can avail loan amount of up to 85% of the transaction. They can repay loans through normal banking
channels.