Page 12 - Chennai

Embassy REIT secures Rs 1,200 cr debt to acquire business park in Chennai

Embassy Office Parks REIT has completed the acquisition of a 50 lakh square feet business park in Chennai for Rs 1,185 crore as part of its strategy to expand its office assets portfolio and grow business. The acquisition was funded through a debt of Rs 1,200 crore. In a regulatory filing on Monday, Embassy REIT informed that it has completed the acquisition of 'Embassy Splendid TechZone (ESTZ), a Grade-A business park in Chennai. The business park has 1.4 million square feet of completed buildings, besides under-construction area of 1.6 million square feet and 2 million square feet of future development potential. "The Rs 1,185 crore acquisition was funded primarily through a debt raise of around Rs 1,200 crore and internal accruals," it added. This acquisition increases Bengaluru-based Embassy REIT's total portfolio to 50.5 million square feet. Aravind Maiya, Chief Executive Officer of Embassy REIT, said the completion of this accretive acquisition facilitates the REIT's entry i

Fischer Medical Ventures makes India's first indigenous MRI system

Eyes acquisitions to broaden medical tech reach

South India office market on the fast lane driven by IT sector, GCCs

Real estate management firm JLL reports that the combined share of southern cities in India's annual net absorption has remained between 54-56 per cent during 2022 and 2023

Will roll out products from Chennai plant by H2CY24: Cisco's Chittilapilly

India is among the top ten markets for Cisco globally and with the new manufacturing plant in Chennai, the country is gaining even more prominence

Cricket-themed drinks to dishes: Chennai gears up to host IPL final

Interestingly, data by travel platform Ixigo shows non-stop flights from New Delhi to Chennai for this weekend are averaging Rs 18,000-20,000 for a one-way ticket compared to Rs 7,000 on any other day

IPL 2024 final: Which team will join KKR in grand finale on May 26?

Knight Riders have been impeccable this year, winning against all the teams and losing just three games at the league stage

Janhvi Kapoor opens Chennai family home for Airbnb's 'Icons' experience

Nestled in lush greenery, the Kapoor family home in Chennai spans over four acres

Rockwell to open new manufacturing unit in Chennai by first half of 2025

The 98,000-square-foot facility-with space for potential expansion-will help Rockwell build a more resilient, agile, and sustainable supply chain in the Asia Pacific region

Pakistani teen receives life-saving heart transplant in Chennai hospital

The hospital and Chennai-based NGO helped Pakistani family settle bill of more than Rs 35 lakh for the transplant

Chennai Central has lowest voter turnout of 8.59%: CEO Satyabrata Sahoo

The official voter turnout application of the Election Commission showed that the turnout in the southern state was 9.21 per cent at 9 a.m

Brigade Enterprises to invest Rs 400 crore to build office space in Chennai

Realty firm Brigade Enterprises Ltd on Monday said it will invest Rs 400 crore to build an office complex in Chennai. In a statement on Monday, Bengaluru-based Brigade Enterprises said it has entered into a Joint Development Agreement (JDA) with Agni Estates & Foundations Pvt Ltd to develop 'Brigade Tech Boulevard', a 'Grade A' office space on Pallavaram-Thoraipakkam Radial Road, in Chennai. "With an investment of around Rs 400 crore, the project will have a leasable area of 8.36 lakh square feet spread across two towers," it added. This will be the next commercial project launched by Brigade Group after the successful completion of the 'World Trade Centre' on OMR. Nirupa Shankar, Joint Managing Director, Brigade Enterprises, said, "Chennai is a diverse office market with demand from not only IT and ITeS sector but also from several other industry verticals including engineering, automotive and banking, etc." Offices that conform to sustainability, with seamlessly integrated ...

Bangalore and Chennai see rise in truck freight rates, shows data

Freight rates from Delhi to Trivandrum have seen a decline by four per cent, while from Delhi to Jaipur, there has been a decline by 10 percent, in this time period

IPL 2024: CSK vs KKR Playing 11 - Chennai make three changes in their XI

Deepak Chahar missed the match due to niggle while Matheesha Pathirana was not available for selection. Shardul Thakur, Sameer Rizwi and Mustafizur Rahman were the three changes in CSK's Playing 11

Pegatron in talks to hand over its only iPhone plant in India to the Tatas

Tata, one the largest conglomerates in India, will operate the joint venture through its Tata Electronics unit, the second source said

IPL 2024 CSK vs KKR preview: Post two losses,Chennai bank on home advantage

Defending champions Chennai Super Kings would expect a lot more from their top-order as they aim to get their campaign back on track against a power-packed Kolkata Knight Riders in the IPL here on Monday. Back-to-back defeats would not create panic in the forever calm CSK dressing room but the management will be keen to fix the flaws going ahead. Skipper Ruturaj Gaikwad and the highly rated Rachin Ravindra need to up their game to provide CSK the start they need in the powerplay. Gaikwad is striking at 118.91 while Ravindra will be itching to make an impact after not doing much in the previous two games. CSK's leading run scorer has been Shivam Dube who has tallied 148 runs at an impressive strike rate of 160.86. It remains to be seen if the young Sameer Rizwi is brought back into the team. The 20-year-old uncapped batter displayed promising intent in his six-ball 14 versus Gujarat Titans but a duck against Delhi Capitals in the subsequent game led to him being dropped against ...

IPL 2024: CSK vs KKR head-to-head, Chennai pitch report, weather forecast

Chennai vs Kolkata head-to-head: Chennai have dominated the meetings between the two sides, winning 7 of the 10 encounters at home while Kolkata has had only 3 wins at MA Chidambaram Stadium, Chepauk

Fresh housing supply drops 15% in Jan-Mar across top cities: Report

New supply of residential properties fell 15 per cent during January-March across eight major cities at 69,143 units despite high demand, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield on Friday released the data for launches of residential properties in the primary (first sale) of eight major cities. New supply has increased in Bengaluru and Mumbai but declined in Delhi-NCR, Chennai, Hyderabad, Pune, Kolkata, and Ahmedabad. Out of the total launches of residential properties in this quarter, the high-end and luxury segment had a 34 per cent share. Listed, large and regionally reputed developers accounted for over 38 per cent of overall launches in the current quarter. As per the data, the fresh supply of housing properties declined to 69,143 units during January-March 2024 from 81,167 units in the year-ago period. Among cities, the new supply increased in Bengaluru to 8,848 units from 7,777 units. New supply in the Mumbai region increased ...

Chennai refinery expansion cost goes up over Rs 3,600 crore, says IOC

State-owned Indian Oil Corporation (IOC) on Thursday said it will raise its stake in the joint venture building a 9 million tonnes refinery at Chennai to 75 per cent after the cost to the project escalated by over 12 per cent. Originally, IOC and its subsidiary Chennai Petroleum Corporation Ltd (CPCL) were to hold a 25 per cent stake in the joint venture that was to build a new unit adjacent to the existing refinery of CPCL. The remaining 50 per cent equity was to come from financial investors. In a stock exchange filing, IOC said its board at its meeting on Thursday "accorded approval for the revision in cost of the project from Rs 29,361 crore to Rs 33,023 crore". The cost increased Rs 3,662 crore or 12.5 per cent. "The Board has also accorded approval for revision in the capital structure of the joint venture with 75 per cent equity from IndianOil and 25 per cent equity from CPCL," it said. The company however did not give reasons for the cost escalation. IOC said its board ha

IPL 2024 schedule: Chennai gets final, Ahmedabad playoffs; 5 games in Delhi

The final of the mega event will take place on May 26 in Chennai while the same city will also host qualifier 2 on May 24

LS polls: BJP releases third list, former Telangana guv among candidates

The BJP plans to contest 20 of Tamil Nadu's 39 seats. Its allies such as GK Vasan's Tamil Maanila Congress (Moopanar), is likely to contest three seats, the Pattali Makkal Katchi will contest 10 seats