September 18, 2008

Office Space Scarcity in Chennai

Yes, Office space scarcity in Chennai also, The demand was primarily driven by IT, telecom and financial sectors in Chennai. Rentals in A Grade office space in center locations such as the Chennai Metropolitan and MRC Nagar were in the range of Rs 80 to Rs 85 per sft a month. In other areas such as Guindy, Adyar and Egmore, this was around Rs 60 an sft while in Ambattur and Taramani the average rental stood at around Rs 38 an sft.

A study titled ‘Property Market Overview’ by Colliers International, a Canada-based real estate research and consulting firm, said in Chennai, Sholinganallur emerged as the new hub for IT parks and was a major supply generator during the second quarter.

September 10, 2008

Leyland-Nissan LCV Plant near Chennai

The Ashok Leyland and Nissan will be combined to construct a new LCV plant very soon at Chennai. The project started the first step after signing the MoU with the TN government. A land of 380 acres would be acquired to set up the facility.

It will be set up at Pillaipakkam which is located 40 KM away from Chennai. The MoU was signed between the state's industries secretary MF Farooqui, R Seshasayee and Andy Palmer.The chief minister of Tamil Nadu was also present on the occasion.

The project is expected to give employment to around 4500 people directly and while another 13,500 indirectly.The first vehicle from the plant is expected to come in the market by 2010-11.

Infosys - 3000 Employees shifted from Pune to Chennai

3000 Employees of Infosys Technologies, Pune will be shifted shortly to Chennai due to space scarcity and also scarcity of accomodation.

The IT giant, which is currently engaged in expanding its Pune establishment at Hinjawadi through phase II, has taken the step following delay in completion of the new centre owing to an exodus of North Indian construction workers fleeing the city in the wake of the agitation by Raj Thackeray-led MNS in February, company's Director HR Mohandas Pai said.

The company plans to have a seating capacity of 38,700 professionals on the Pune campus with an investment of Rs 5 billion the campus will be larger than that at Bangalore. The pune campus will have 150 advocates for its LPO business in Pune. The exports from Pune facility have increased to Rs 33.40 billion from Rs 25 billion in March 2007.

Fire at Saravana Stores, 2 Reported Dead

Chennai - September 1, 2008: A major fire broke out in Chennai's shopping paradise - Ranganathan Street. The fire broke out at Saravana Stores in Ranganathan Street, T Nagar - Chennai. The fire broke out on Monday (September 1, 2008) early morning between 5:00 and 5:30. There were 10-15 employees in the shop at that time.


Several lakh worth of goods were destroyed in a major fire that broke out at the fourth floor and two men loss of life was reported, police said. This accident is an eye-opener to authorities who ignored the safety norms followed in shopping complexes in the area. Most of the shopping complexes in Chennai don't have sufficient fire fighting equipments or fire exits used to evacuate people in case of a disaster. One hopes that the authorities wake-up atleast now and raze structures which are built in violation of the rules to prevent mishaps.