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Chennai market spices up
The Indian city of Chennai, formerly known as Madras, is fast becoming a property hotspot, according to industry experts.
News agency MENAFN Press reports that Dubai property company ETA Star is planning a huge investment in the Tamil Nadu region, as it looks to capitalise on India's astonishing economic growth and commercial potential.
In conversation with MENAFN, the company's executive director Abid A Junaid related the investment to previous successes in Bangalore.
"Chennai is a great place for property investment at the moment as it is the third largest commercial and industrial centre in India and it attracts a large number of professional residents and also many tourists who come to visit the numerous sporting venues in the city," he said.
With a diverse array of tourist attractions and increasing buy-to-let opportunities thanks to India's rapidly expanding professional class, Chindia could be ripe for heavy investment.
India's GDP is growing at a reputed 6.5 per cent as it, along with China, changes the world's economic landscape.
Speaking to the Daily Star, Gopi Bhawnani, managing director of architecture company RSP, described the 'Chindia' economic boom:
"What we are seeing is the tip of the iceberg that is to surface in the next ten to 15 years."
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