Released on: May 21, 2008, 5:46 am

Press Release Author: George Gonigal

Industry: Real Estate

Press Release Summary: Chennai real estate market is emerging as a profitable real
estate destination with its return generating capacity. The development attained by
the city in the recent years has attracted many national as well as foreign
investors to it.

Press Release Body: Chennai real estate market is emerging as a profitable real
estate destination with its return generating capacity. The development attained by
the city in the recent years has attracted many national as well as foreign
investors to it.

With the latest trend of all big corporate, IT/ITeS establishing their campuses in
the city, the demand for real estate development has heightened. In the coming year
real estate development is required at large pace to meet up these demands and for
the same investment is needed. Investment in Chennai is profitable because of low
cost base which makes it attractive for NRI\'s and multinationals to relocate in the
country, experts say.

Leading property developers and realty majors expect a high return from the
investment being made in Chennai real estate market. Research studies project that
investment yield will be around 5-7 per cent in residential sector, 10-12 per cent
in office sector and 11-13 per cent in retail sector.

Investment interest is high in Chennai\'s satellite townships coming up in the
outskirts of the city.

New Projects

. Eden Park from L&T South City projects, it is an integrated township project with
an investment of over Rs 120 crore. Another is Project Estancia which is again a
township project spreading over 78 acres of land and requires cost approximately
1,800 crore per acre.

. Sabari Foundation is also developing apartment complex at Siruseri. There will be
around 310 apartments developed at an investment of Rs 180 crore.

. Other latest real estate projects which may prove profitable for investment
purpose include: VGN Group-Mugappair, Sree Foundation-OMR IT Corridor, Balchandra
builders-Medavakkam, Vasavi Builders-Perungudi, Citilights- Blessings.

Chennai Real Estate is witnessing upswing these days in both commercial and
residential sector and is estimated to escalate further when these ongoing projects
will reach completion stage.

For more details on Chennai Real Estate, log on to
http://www.magicbricks.com/property/faces/jsp/indexc.jsp

Web Site: http://www.magicbricks.com/property/faces/jsp/indexc.jsp

Contact Details: george.gonigal@gmail.com