Thursday, August 11, 2005

Chennai heats up

Am no lover of Chennai and have had to visit it only thrice for very very short visits yet, but Chennai is booming. Chennai has three seasons, hot, hotter and hottest, but this time around Chennai is heating up because of IT. Sambharmafia had put up a post recently and here is Business-standard on it this time.

...Chennai may have lagged behind Bangalore and Hyderabad in hopping on to the bandwagon of information technology boom a few years ago. But it is fast catching up. The city has absorbed over 2 million sq ft lease space in the first six months of 2005, outstripping the total space leased in all of last year.

The reason for the pick up is the requirement of good quality real estate space by IT companies, points out Thirumal Govindraj, head of Chennai operations with real estate consultant CB Richard Ellis. Many IT companies looking to expand outside Bangalore, including mutlinational companies, are taking up space in Chennai...

Of course Chennai has its problems water being one of the many, autorickshaws another one, but Chennai can serve as a gateway to the Far East markets not just for IT, but for industries too. Hope our politicians realise the enormous potential of this city.

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