#1 Manufacturing & IT Boom in GST

Chengalpet, the gateway of Chennai city has been one of the fast developing municipalities in recent times because of the fact that it is transforming into an industrial hub. The province is situated just 60 kms from city and spread about

7,970 sq.km in area. Significantly, the town clutched the attention of well-known builders in the city namely Lancor, Arun Excello, Akshya Homes, L&T etc. Around 2 crore SQFT is being build to cater the residents moving here in next 2 to 4 years.

Mahindra group in association with Tamilnadu Industrial Development Corporation Ltd (TIDCO) established a business township near Chengalpet called “Mahindra World City” spreading across 2400 acre in 2005. Apparently termed as

“New Chennai”, it is the Chennai’s first integrated business city and India’s first operational Special Economic Zone. This township comprises top companies in the country such as Infosys, Wipro, Tech Mahindra, Capgemini, Mastek, Renault Nissan, Wabco-TVS, BMW, Brakes India, Timken India, Leather Crafts India and many more.

Auto major FORD is strategically located in Marimalai Nagar and is set to generate direct and indirect employment of 25,000 in coming years.

#2 Infrastructure

Air, Road and Rail networks have been expanded to provide handhold service to the public in South Chennai. New master plans were also proposed by Chennai Metropolitan Development Authority(CMDA) in terms of rail route that includes laying of the second lane between Chengalpet and Arakonam, which is about 60 km distance. Similarly third and fourth lane between Tambaram and Chengalpet (30km) have been also been proposed. It is hoped that Chengalpet will soon become a well equipped metropolitan city in next 2 to 4 years.

Hospitality major Ramada Hotel – Four Star Deluxe is coming up in Vandalur and should start operations in next 2 years.
Holiday Inn has also finalized to cater to South chennai growth by signing up in Mahindra World City. Plans are drawn
to start construction in December 2011 and start operating from 2013.
http://www.mahindra.com/News/Press-Releases/1308049247

#3 Educational Institutions

Chengalpet is equally endowed with top autonomous and affiliated educational institutions in the state, in particular SRM University, SRM medical college Hospital and Research, BS Abdur Rahman University (Crescent Engg College), Ambedkar Law College, Government Arts College and major schools. Consequently, Chengalpet town is being targeted most for urbanization taking all the above amenities into consideration, and it is sure to trigger its land value in near future.

Keeping this growth in mind, Krishna CitiSquare (KCS) are landscaping 2.75 lakh sq.ft of land by 2012.

 
TamilNadu Government has finalized IT, ITES and Electronic Industries SEZ spread over across 500 acres is located in Padalam, Madurantakam Taluk close to GST Road about 65 kms south of Chennai City

Chennai is witnessing heavy growth in its southern and western peripheral areas, the Multi National companies situated near the site include Infosys, Ford Motors, BMW etc. Numerous colleges and residential townships are coming up around this area
The SEZ is accessible from Chennai city and Chennai Airport through road (NH – 45 or GST Road) and rail, the nearest railhead being Karunguzhi station on the Chennai – Villupuram Section

http://www.krishnacitisquare.com/keyplan2.html

Union budget 2011 has got a favorable answer for low cost housing loans. This Union Budget 2011, laid more emphasis on the development of people who are lower in financial strength, help them buy their own home at a Minimum cost.

Anyone who wants to build their home can get a financial assistance from Government up to 15 Lakh of rupees for a very minimum subsidy of one percent. This step by Government will definitely increase low cost housing communities across India. Previously it was Rs.10 Lakh and the ceiling value for building a Home is 20 Lakhs. Now it is liberalized to 15 Lakhs of rupees and ceiling value for building a Home is now 25 Lakhs.

Government gives the benefit for property developers who are constructing low cost affordable housing. Government is giving Income Tax Deduction under Section 80-IB. This will make more property developers interested to develop low cost housing and more people who cannot afford much for a home can really look to get a new home around 15 to 25 Lakhs of rupees.

Overall this is a new step taken forward by the Government to promote low cost housing in India, you can see most of the people in the construction industry  interested to build  low cost housing which will eventually benefit the people who can afford less money for building their homes.