The Hindu·4 min read·medium
Parandur airport uncertainty slows western Chennai land market
D
D. Govardan
✦AI Summary
The real estate market in western Chennai is experiencing a slowdown following the government's decision to stall the proposed Parandur greenfield airport project. Investors and developers are facing stagnant land prices as the uncertainty surrounding the infrastructure project discourages buyers.
Till last month, P.S. Mahesh, promoter of Banyan Tree Estates, marketed his DTCP-approved seven-acre villa plot layout at Pudupattu village near Sunguvarchatram in Kancheepuram district as an investment offering a “100% profit guarantee”, banking on its proximity to the proposed Parandur greenfield airport.
economybusiness
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