Latest Property News on "Chenni"
The recent shooting of ship captain Ilangovan and his wife Ramani has brought into focus the fact that a number of Chennai-based realtors are procuring guns from Madhya Pradesh, Uttar Pradesh and Bihar, and using them only to threaten others during land deals. The gun that was used on the couple was a country-made pistol and that is probably what saved Vasanthi, their daughter-in-law, when the gunman Rajan turned the pistol on her. Police said country-made guns are not effective and often do not have sufficient range

“In case of the Neelankarai shooting, the accused may have been standing on the extreme right of the room after shooting the couple. He aimed at Vasanthi, who was running away from him, and she was probably out of his range. That is the reason why she did not sustain grievous injuries,” a senior police officer said. “Chennai and Tamil Nadu is not known for manufacturing illegal arms due to the effective policing and intelligence network here, when compared to other states in India. Recently, the illegal manufacture of rocket launchers by Maoists from Andhra Pradesh was busted in Ambattur Industrial Estate
Chennai’s Leading Builders
Income tax officials on Thursday carried out raids at the offices of two leading builders in Chennai at 25 locations, in and outside Tamil Nadu. They said they detected tax evasion to the tune of Rs 22 crore. Special teams raided the office and residential premises of Jain Builders and VGN Homes and seized several documents and Rs 1.5 crore of unaccounted cash, officials said. “We have got evidence of tax evasion to the tune of Rs 22 crore by these two groups,” a senior income tax official said.

The raids were carried out in the residential and business premises of these two groups in Chennai,, Vellore, Hyderabad, Bangalore, Kochi, Ajmer and Pali in Rajasthan. More than 200 officials were deployed in the search, seizure and survey operations. Sources said the income tax investigation department received information of alleged tax evation and it carried out the raids till late in the evening. Several bank lockers of the two companies were sealed
Growth in Real Estate
Laxity in promoting as next IT destination after Chennai,time-consuming approval process, speculative land prices, conservative nature of people and lack of political clout are some of the key reasons identified behind the sluggish growth in real estate in the techcity. Speakers at a forum organised by Confederation of Indian Industry (Coimbatore) and Jones Lang LaSalle Meghraj (JLLM) here on Tuesday. However, believed the realty sector has enough potential and it is poised to pick up growth in about six months to one-year.

Bandra-Worli Sea Link is a Maharashtra state road development corporation

projeIn his presentation on Edge, Ramesh Nair, managing director of JLLM, Chennai and Hyderabad regions said branding, as a single entity is very important for the growth of the city. Also, the city has the capabilities to be promoted as a highly promising alternative IT/ ITES and a biotech destination. “There is a huge potential for local, national as well as international developers in the real estate sector in,” Abhishek Kiran Gupta, Head – Research, JLLM said. He cited high literacy rate
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