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CHENNAI

An Overview

Chennai is a Metropolitan city of state Tamil Nadu and the capital city of Tamil Nadu. Chennai was earlier known as Madras till 1996. Chennai lies off the Bay of Bengal on the Coromandel coast. Chennai is the Biggest “Cultural Capital of South India”. Chennai is the sixth most populated city in India as of 2011. Chennai was one of the most visited places by the tourists and was ranked 43rd  in the list of the most visited city in the world in 2015. It is known as “India’s Health capital”. In 2014, Chennai was ranked as the best city in India and in 2015, it was named as the “hottest city”. It is the 9th best cosmopolitan city in the world. Chennai is having one-third of India’s automobile industry and hence it is called “Detroit of India”. It is also a home for Tamil Film Industry.

History

Madras(Chennai) was found on 22nd August 1639 by the East Indian Company. In 1996, the Government of Tamil Nadu officially changed the name from Madras to Chennai. The name “Chennai” is derived from the name “Chennaipattanam”, a town near Fort St.George. Chennai is popular for IT and industrial hub and also famous for music. There was a village called “Madrasipatnam” from where the word “Madras” was derived. After the independence in 1947, Chennai became the capital of Madras state which was later renamed as Tamil Nadu in 1969. The official language of Chennai is Tamil. English, Malayalam, Telugu and Urdu are also spoken.

Economy, Industry and Employment

 The economy of Chennai is ranked as the sixth most productive metro area in India. Chennai is a base for large scale industries like automobiles, technology, computers etc. Chennai was the second largest exporter of BPO sectors and Information Technology(IT). It is ranked as the third highest by GDP per capita. Some of the automobile industries are

• Renault
• Robert Bosch
• Ashok Leyland
• Royal Enfield
• BharatBenz

Chennai is a home for three major banks. They are National Level Commercial Banks, Indian Bank and Indian Overseas Bank. Chennai is also called as the “Banking Capital of India”. The first ever Bank in Chennai is “The Madras Bank”. “Madras Stock Exchange” deals with all the stock exchange in the city. In South Asia, Chennai is emerging as an electronic manufacturing hub with many companies like Samsung, Cisco, Siemens, Dell etc.

Key Projects (all will be linked)

• Brigade Xanadu
• Casagrand Monte Carlo
• Casagrand ECR14
• Casagrand Bloom
• Casagrand Asta
• Freedom by Provident
• Newry Celio
• TATA Crescent Enclave
• Casagrand Primera
• Casagrand Miro
• Casagrand Supremus
• Casagrand Northern Star
• Casagrand Smart Town
• Casagrand Woodside
• Casagrand Crescendo

Demographics

The total population of Chennai according to 2011 census is 4,681,087. The average literacy rate of Chennai city is 90.18 per cent of which male and female literacy was 93.70 and 86.64 per cent. The sex ratio of Chennai city is 989 females per 1000 males. Children from 9.88% of the total population of Chennai City.

Information Technology

As Chennai is the second largest exporter of IT, there are many IT companies such as

• Tata Consultancy Services
• Aricent
• Infosys
• Wipro
• Accenture
• Tech Mahindra
• Hewlett Packard Enterprise

The Old Mahabalipuram Road has the major number of technology parks. The largest IT Park is the “Tidel Park”.

Connectivity

Roads

Chennai is connected with many cities through four major National Highways i.e., connected by the “Golden Quadrilateral” system. They are

1. NH4 - to Mumbai
2. NH5 - to Kolkata
3. NH45 - to Theni
4. NH205 - to Madanapalle

Bus - Chennai Mofussil Bus Terminus (CMBT) was one of the largest bus stations in Asia and it is the main bus station in Chennai that connects many cities and states. The Volvo buses are operated by the Tamil Nadu State Transport Corporation (TNSTC).

Rail

Chennai is the headquarters for Southern Railways. There are four major railway terminals. They are

• Chennai Central
• Chennai Egmore
• Chennai Beach
• Tambaram

Chennai Central is the main terminal for the city that connects with many cities all over India. Chennai metro was started on 29th June 2015. The metro consists of two lines, Blue Lines & Green Line that connects around 40 stations covering a distance of 45.1km. The Blue Line connects to the Chennai International Airport.

Air

Chennai International Airport, located in Meenambakkam about 21km away from the city. The Chennai Airport is the fourth busiest airport in India. It was initially called “Meenambakkam Airport” when it was operated in the year 1985 only for Domestic flights. Later when International flights started to operate, it was renamed as Chennai International Airport.

Existing Infrastructure

Education

Chennai is ranked second with a literacy rate of 90.32% among Indian metropolitan cities. Both private and government are available. The schools are affiliated to the “Tamil Nadu State Board” and are run by the Chennai Corporation. The primary languages are Tamil & English. Some of the top best schools in Chennai are

• Sishya School
• SBOA School & Junior College
• Vaels International School
• Abacus Montessori School
• The PSBB Millennium School
• Lalaji Memorial Omega International School

The biggest University in Chennai is the “University of Madras” that has six campuses in the city. Majority of the schools are affiliated to the “Anna University”. Some of the top colleges are

• Loyola College
• Sathyabama Institute Of Science And Technology
• Sri Ramachandra Institute of Higher Education and Research
• SSN College of Engineering
• Jeppiaar Engineering College
• Saveetha Engineering College

Healthcare

Chennai is known as “India’s Health Capital”. The hospitals are run by both government and private. They provide top class medical facilities. Around 45% of hearth health tourists arrive from abroad. Some of the top hospitals are

• Apollo Hospital
• Fortis Malar Hospital
• Gleneagles Global Health City
• Billroth Hospital
• Prashanth Hospital

Chennai Real Estate

Chennai has been one of the best places in real estate development. According to a survey, Chennai is ranked 22nd in the list of Asia Pacific 2014 in real estate. The city’s economy is growing massively with a large scale development in real estate. The southern and western suburbs of Chennai have the maximum residential properties. Chennai is one such place where NRIs would look for to invest in real estate. There are few developing areas in Chennai where the investors can rely on based on amenities, transport, infrastructure etc. The areas that are best in investing are

• Sholinganallur - The Old Mahabalipuram Road(OMR) which is a 45km stretch is considered to be the best area to invest in real estate. OMR is also known as the “IT corridor” with many MNCs. It is the most valuable area that attracts many investors and buyers. The buyers get a great profit as the value of the properties to increase with time.
• Guduvancheri - It is an investment hotspot Chennai. The reason for residential growth here is the presence of IT parks and industrial parks set up here. There were 4,500 residential units that were launched since 2013.
• Velachery - It is located between the main city and the IT corridos. It is recognized as the real estate hotspot as it connects to OMR and is nearby to many IT companies. The prices of properties in Velachery is very much affordable compared to other parts of the city.

The weighted average capital value for residential properties in Chennai is Rs 4,600 per sq.ft with an annual appreciation ranging between 7-14%.

Proposed Infrastructure

The upcoming infrastructures in Chennai are

1. Chennai International Second Airport at Sriperumbudur.
2. Chennai Metro Rail Limited (CMRL) - Phase 2 with three corridors and 104 stations.
3. 6-lane Vandalur Flyover - Grand Southern Trunk Road and Vandalur-Kelambakkam Road Junction.
4. Porur Flyover
5. Satellite Bus Terminus in Madhavaram.

Popular Areas/Localities

Some of the popular localities in Chennai are Ambattur, Velachery, Avadi, Guduvanchery, Guindy, Chromepet, Adyar, Nungambakkam, Urapakkam, Teynampet, Alwarpet and Royapettah.