Chennai To Emerge As A Strong Industrial Hub After The Development Of Two Industrial Corridors

By Author: Vinay Kumar
Total Articles: 19
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Real estate Chennai will soon emerge as a strong industrial and commercial hub as Mr. Arun Jaitley, India's finance minister, in his maiden Union Budget gave a boost to the two industrial corridors which will connect the capital city of Tamil Nadu. The blueprint of the master plan for Chennai-Visakhapatnam (Vizag) and Chennai-Bangalore corridors will soon be completed.


Real estate Chennai will be boosted with the completion of the two corridors. The Bangalore Industrial Corridor will be made by Japan International Cooperation Agency (JICA) whereas the Visakhapatnam corridor will be developed by Asian Development Bank. The recent announcement of developing the Chennai-Visakhapatnam (Vizag) and Chennai-Bangalore corridors industrial corridor has caused a major movement in real estates in Chennai. Many major developers are scrambling the area to construct office and residential properties in Chennai. As Chennai is gearing for major infrastructural improvement one can also see a rise in property rates in Tamil Nadu's capital city.


As the industrial corridor will only be a a few hours drive ...
... from the capital city of Tamil Nadu, there will be an increase in demand for properties in Chennai. Already many real estate developers are eying the area to launch new residential and commercial projects. The Chennai-Visakhapatnam corridor was planned to pacify people of Seemandra, as they were upset by the bifurcation of Andhra Pradesh.


With the development of Vizag corridor it is expected that there will be modernization of airports, ports, roads and the rail alongside the 800 kilometers coastline. With the development at of the Vizag corridor additional power transmission lines and gas pipelines will also be created to feed fuel to new and existing industrial clusters as well as special economic zones located in the area. The total cost expected to construct this corridor is approximately Rs 20,000 crore.


The Chennai-Bangalore corridor will house automobiles, food processing, chemicals and petrochemicals, machinery, metallurgical industries, electronics, financial services, textiles, electrical machinery and IT, pharmaceuticals, etc.


The real estates Chennai will hugely benefit with the development of the corridors as the capital city of Tamil Nadu will either be the starting point or the end of both corridors. In the past few months several industrial corridors have been announced to boost property India. Recently Hyderabad-Warangal industrial corridor was also announced by the government to give a boost to realty in the region.


Tamil Nadu Chief minister Ms J Jayalalithaa is also requesting the Central government to extend the Chennai and Visakhapatnam corridor to Tuticorin.


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