[INDIA REAL ESTATE NEWS] Good morning, everyone.|
I’m Anna Kim staff of Kamagroup Pvt. Ltd. Here I have important
INDIA REAL ESTATE news to share with you which is as mentioned under.
Chennai’s economic activity prior to the IT boom in the 2000s was primarily driven
by trading, port-centric business, and the engineering and manufacturing sectors.
The city was one of the early movers in tapping the potential of the technology sector
in India, and the IT/ITeS sectors took off with the completion of TIDEL Park along
the Rajiv Gandhi Salai (the erstwhile Old Mahabalipuram Road) in 2000. Apart from
these government designated flagship projects (SIPCOT Siruseri and ELCOT
along the IT Corridor, additional factors — such as the easy availability of large land
parcels at competitive rates, an increasing talent pool and a swift approval process
encouraged private developers to establish IT parks and SEZ developments
along this corridor.
his led to a period of formidable growth: the total available commercial office space
in Chennai grew at a Compounded Annual Growth Rate (CAGR) of approximately
15% from 2005 to reach more than 64 million sq. ft. in 2018.
Read more at: https://www.thehindu.com/real-estate/how-chennais-realty-market-
Kamagroup Pvt. Ltd.
Have a nice day.