The Board of Approval (BOA) of the Special Economic Zones (SEZs) has given formal and in-principle approvals granted for setting up of Special Economic Zones as well as



approved other miscellaneous requests pertaining to SEZs.

Residential Properties in Chennai

For those willing to buy home in Chennai, Puravankara Projects Limited, a real estate developer has launched its residential project called 'Purva Swan Lake' at the IT Corridor. The project is situated at Kelambakkam on the Old Mahabalipuram Road and offers those looking to buy flat in Chennai. An integrated residential township, Orchid Springs in Padi in the Northwest of Chennai, to be developed by Bangalore-based Alliance Infrastructure is another good option for home buyers and investors.

Solitaire, luxury apartments in the lifestyle homes segment has been launched by Vijay Shanthi, South India's leading real estate developer. The 16 luxury apartments of 2,000 sq feet each are located on the main road in Seevaram Village, Old Mahabalipuram Road (OMR).

With a Memorandum of Understanding with Parryware Roca Private Limited, to provide world class bathrooms in all their latest upcoming projects across the city, all its latest projects are offering apartments and houses with unmatched quality, international designs and state-of-the- product offerings from Roca and Parryware.

Commercial property in Chennai

Office space in Chennai is highly valued even as IBM today significantly expands its operations in Chennai with the inauguration of the company's new Global Delivery Center.

The commercial property market in Chennai has seen more new space this year as opposed to only 7 million sq.ft in the previous year. Another 3 million sq.ft of space is expected to be added up in Q1 2008. This quite speaks about the robust demand in the city for office space. The total projected supply has already been pre-committed to or absorbed.

Mivtach Real Estate, a subsidiary of Israeli investment company Mivtach Shamir, is planning to invest around $13 million in Chennai real estate. Sales activity of residential units by Hirco plc which is one of India's largest real estate investment companies, in Chennai Old Mahabalipuram Road township and Hiranandani Palace Gardens is very encouraging.

The active involvement of high profile architects, senior consultants, builders, contractors along with facility management groups, corporate, government representatives and institutions who are seeking active participation in the ?Green Building Congress? is also very telling.