Mount Road Transformation: Commercial Space Gives Way To Sprawling Residential Complex

Chennai is changing. More precisely, the heart of Chennai is undergoing a major metamorphosis. Yester-year iconic industrial and commercial properties are giving way to new skyscrapers, high-end luxury flats and shopping malls in the heart of Chennai.  What spurs the change? There are opportunities aplenty for redevelopment now. The increased FSI (floor space index), the Metro Rail projects, myriad road bridges connecting central business corridors across Chennai, the rising demand from HNIs (high network individuals) and NextGen family members of the business group have all combined to liven up the real estate scene in the heart of the city of Chennai. Some of the iconic properties in Chennai are going through a re-development process. Crowne Plaza in Adyar, TVS property on Mount Road, President Hotel on RK Salai and Shanthi Theatre on Mount Road, among others, are now undergoing a metamorphosis. The Brigade group has now announced the development of a new landmark – Brigade Icon – on Mount Road in Chennai. It is now developing the property it had acquired from one of the wings of erstwhile TVS group into a residential complex. In the evolving Chennai landscape, owners of old properties find it prudent to relocate their businesses to IT and newer corridors. Indeed, the change is happening at a faster pace in Chennai.