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adProperty News For January 2008

Retail, real estate boom will persist this year
Source : The Hindu Property Plus Published On : 2008-01-12 City : Chennai

The organized retail segment will see an additional investment of $70 billion by 2010

Retail and real estate boom will further roll down in 2008 as these two key sectors are well poised to notch a year on growth of 30 percent to 35 percent and between 40 per cent and 45 per cent respectively over the year 2007, according to projections made by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

In 2007, the retail sector ended up with a growth rate of 25 to 28 per cent....

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Review of office, retail real estate markets in 2007
Source : The Hindu Property Plus Published On : 2008-01-26 City : Chennai

Spurt in the knowledge sector largely comprising IT/ITES segments has created a sustained demand for real estate in Chennai, writes RAMESH NAIR

The year 2007 was another record year for the Chennai Office real estate market with approximately 7.1 million square feet of office space being absorbed. This is a growth of over 40% as compared to 2006 which saw an absorption of around 5 million square feet reiterating Chennai’s position as the second largest office market in the country after Bangalore and one of the most sought after IT and BPO destinations in the world. Very few office real estate markets in the world have undergone such a dramatic and rapid change in such a short span of time as the Chennai office market in the last 4 years.

Major transactions in the SBD included EDS Mphasis, IBM, CSC and Symantec leasing space in DLF IT Park @ Chennai, Pfizer and Lion-bridge leasing space in Ascendas ITPC Phase 2. Major transactions in the PBD included Accenture leasing space at Shriram Gateway, HCL in ETA Techno Park, Mindtree in Ascendas Mahindra City and EBay in Futura. Major transactions in the CBD were RR Donnelley and Oracle leasing space in Acropolis, ABN Amro and JLLM leasing space in TVH Belicaa Towers and Sony Ericsson leasing space in Sterling Towers....

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Safe guarding building against fire
Source : The Hindu Property Plus Published On : 2008-01-19 City : Chennai

Measures necessary to minimize danger to life and property from fire must be taken as per the current NBC 2005 code writes PROF. A.R. Santha Kumar.

The recent fire in India’s historic trading hub Barr bazaar, where several buildings packed with tarpaulin and textile material were gutted, shows the need to implement fire safety norms especially in crowded market areas where different categories of building with respect to occupancy type coexist. Fire safety should include demarcation of fire zones classification of building based on occupancy type coexist. Fire safety should include demarcation of fire zones, classification of buildings based on occupancy with respect to fire probability, type of building construction according to fire resistance, restrictions and regulation to ensure minimizing fire break out, smoke, flame and panic. Although absolute safety against fire is difficult to achieve in practice, measures that ensures construction, occupancy and protection features that are necessary to minimize danger to life and property from fire must be implemented as per the current NBC 2005 code.

The safety measures should be implemented under the following three categories. ...

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Build houses for all sections, tripathy urges real estate developers
Source : The Hindu Property Plus Published On : 2008-01-19 City : Chennai

“Ready to work with government to make housing affordable to all”

Chief Secretary L.K. Tripathy on Friday urged the real estate developers to step into the shoes of the prospective buyers to realise their dream homes.

Inaugurating ‘FAIRPRO2008’ Chennai’s biggest property fair, he said, “The real estate developers have the additional responsibility of creating a beautiful neighbourhood along with beautiful houses for all sections.” They should commit themselves to creating beautiful cities. ...

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