Looking For Commercial Property In Chennai? Invest In These 4 Developers
Chennai, along with Bengaluru and Hyderabad, is among the highest ranking cities in India that have witnessed increase in interest for rentals in the last two quarters. This growth is driven by the rise in number of information technology (IT) companies along with automobiles manufacturers and other. With these growing number, this Indian metro is now seeing a lot of push for commercial developments such as office spaces as well as malls to further accelerate urbanisation of the city.
Here is a list of leading commercial developers in Chennai:
The real estate arm of the the Rs 60,000crore-financial giant, Shriram Group, Shriram Properties develops residential as well as commercial projects across cities including Bengaluru, Chennai, Kolkata, Vizag, Coimbatore, and Chennai. Apart from executing integrated townships in Kolkata and Vizag, Shriram Properties is also building a landmark project in Chennai called the Shriram IT Gateway, a special economic zone (SEZ) project. It is an information technology (IT) park spanning across six million sq ft, which will have offices for IT and information technology enabled services (ITeS) . It has already locked in Accenture as one of its biggest tenants recently. The park also has a 2.5 million sq ft of residential development.
Bengaluru-based Prestige Constructions develops residential, leisure and commercial projects including apartments, luxury villas, malls, and tech parks. The developer has projects both in Bengaluru and Chennai. The three major commercial projects in Chennai are Polygon at Mount Road, Prestige Cyber Towers at Old Mahabalipuram Road (OMR) , and Palladium at Greams Road. Its largest project, however, is Prestige Cyber Towers, located near corporate offices of multi-nationals such as Wipro, TCS, Infosys and Standard Chartered. The IT office building has a super built-up area of nearly half a million square feet and has already locked in French IT-giant Capgemini as a tenant.
Green Grid Group
Known for its environmentally sustainable projects, Green Grid Group is a Singapore-based construction company that is developing industrial parks, data centers, and other IT infrastructure in India. The company's flagship project is Chennai One SEZ, which has been operational since 2007. It is presently constructing the phase-I of Block-2, which is expected to be completed in the third quarter of 2015. The IT park located at Thoraipakkam is built across 1.38 million sq ft of area and is now in the expansion mode in which TCS, one of its oldest clients, will occupies more than 50 per cent of the space. It is a Leadership in Energy & Environmental Design (LEED) Gold-rated technology park.
SP Infocity
Known for its IT and ITeS office spaces, SP Infocity is constructing a 2.7 million sq ft project in Perugundi in Chennai. SP Infocity has projects across Gurgaon, Pune, Nagpur, Manesar, Chennai, and Mohali. Construction on 1.8 million sq ft area of this LEED Gold-rated green building is completed. The developer is on the verge of closing deals with tenants for its Block-C. Apart from the common facilities including a food court and parking spaces for visitors, SP Infocity also offers ATMs, convenience stores as well as day care centres.