City Beat: Chennai Airport To Get A New Terminal At The Cost Of Rs 2,100 Cr [Video]
In a piece of good news for all frequent flyers to and from Chennai, the Airports Authority of India has announced an additional terminal at the Chennai international airport, which will be built at a cost of Rs 2,100 crore. The airport, which earlier witnessed a Rs 2,000-crore expansion in 2013, is likely to have the new terminal ready by 2020-21. Besides, a new taxiway, to be constructed at a cost of Rs 40 crore, is also planned to be completed by March 2017.
In another development, Tamil Nadu Chief Minister J Jayalalithaa has announced that the northern part of Chennai will have a Metro Rail network in three years. Recently, the foundation stone was laid for the Metro rail's Phase-I extension. This phase connects Washermanpet to Wimco Nagar. According to experts, the Metro network will have a positive impact on real estate in the northern parts of Chennai. We are likely to see new projects, as well as price appreciation for the existing projects, in the times to come.
Also, developers' body Credai, which had taken up the initiative to map real estate in Chennai and its suburbs, is expected to complete the process by August. According to Credai Chennai President-elect W S Habib, this will help home buyers map the areas, know more about the inventory in different localities and then take a wise decision. The association is anticipating a pace in the otherwise sluggish buying trend.