Chennai residential property prices rise three fold in four years


Prices of residential properties in the city have been skyrocketing ever since National Housing Bank (NHB) started preparing residex — an index for tracking the prices of residential properties — in 2007, but for one quarter, when the prices declined. Residex shows that Chennai’s residential property prices have shot up by threefold in four years. Areas like Ashok Nagar, Anna Nagar and T Nagar have boosted the price increase.

“Chennai opened up its suburb markets in a big way after 2007, while other markets were much matured by that time. That’s one of the reasons for this steep increase. Chennai grew slowly and steadily from thereon. While Bangalore, Delhi and Mumbai prices shot up suddenly and fell rapidly during recession,” a senior real estate consultant in the city said.

Residential prices in 14 other cities that residex tracks have seen more than one declining quarter, and Chennai has seen the fastest increase in the fouryear period. The closest competitor to Chennai during the period was Faridabad, where the prices just about doubled.

The prices at Virugambakkam, Anna Nagar, Kilpauk, Purusawalkam, Kolathur and Nungambakkam have shot up by six times. While, prices at hot spots like Ashok Nagar, Thyagaraya Nagar and Saligramam jumped five times, during the five-year period.

On the flip side, the growth rate has been comparatively at a slow pace (twofold rise) at Tondiarpet, Nehru Nagar, Chetpet, Egmore and Marina. The demand for residential units in Chennai is likely to see a compounded annual growth rate of 11% until 2015, estimates say. Industry observers say the prices will head north at least for a quarter or too. But, after that it will stabilize and grow marginally.

For the January-March period, residential prices in the city grew 40% yearover-year, according to NHB Residex. This is the steepest increase among the 15 cities tracked by NHB. In the little over four-year period Chennai has seen a steady growth, and has proven to be a matured and safe market, say analysts.

“Within the city or suburbs the land parcels are slowly disappearing so the demand picture is clear and the prices are bound to shoot up. The OMR stretch has prices increasing steadily. Apart from Sri Perumbadur every area in the city will see an increase in prices. I feel the prices will rise at the current pace in the near-term and long-term in the city due to high demand,” said A Shankar, senior manager, Jones Lang LaSalle.

Source:http://content.magicbricks.com/chennai-residential-property-prices-rise-three-fold-in-four-years

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Construction Material Price Index* for chennai


Commodity Unit Measure AVERAGE RATE IN Nov 2011
CEMENT Per 50 Kg Bag र 300
STEEL Non Isi 6mm / Ton र 43,500
STEEL Tmt 8mm Dia / Ton र 46,000
STEEL 10-25 Mm Dia / Ton र 44,500
STEEL Rms / Ton र 49,500
STEEL Stirrups / Ton र 50,500
STEEL Vsp/Sail 10mm Dia / Ton र 46,800
BRICKS 1 No. र 7.30
RIVER SAND Cubic Feet र 40
FLY ASH Per Ton (Ennore) र 122
BLUE METAL 20mm / Cubic Feet र 26 to र 28
BLUE METAL 40mm / Cubic Feet र 24
QUARRY DUST 0 – 2 Mm / Cubic Feet र 20
BITUMEN Grade 80/100 र43,100
BITUMEN Grade 60/70 र44,800
MASON Per Day र 450 to र 550
MEN Per Day र 300 to र 350
WOMEN Per Day र 200 to र 250
PAINTER/PLUMBER Per Day र 400 to र 450
CARPENTER Per Day र 400 to र 500
 Source:chennai realty

Chennai Residential Rate Watch – Capital Value and Rental Value


Residential Rate Watch

Locations Capital Value 2 BHK (cost / sqft) in र Rental Value 2 BHK of 1,000 sqft (cost / month) in र Capital Value 1 Ground of 2,400 sqft (in lakh र)
BUDGET PREMIUM BUDGET PREMIUM AVERAGE
CENTRAL
Abiramapuram 9,000 14,000 15,000 24,000 250 – 350
Adyar 9,000 17,000 16,000 26,000 250 – 350
Alwarpet 9,000 18,000 16,000 30,000 300 – 400
Besant Nagar 9,000 15,000 15,000 21,000 250 – 350
Egmore 7,000 11,000 10,000 15,000 250 – 275
Gopalapuram 9,000 16,000 14,000 24,000 300 – 400
Kotturpuram 8,000 18,000 14,000 26,000 400 – 500
Boat Club NA 26,000 30,000 50,000 800 – 850
Mylapore 8,500 17,000 10,000 18,000 300 – 375
Mandaveli 7,500 14,000 8,000 14,000 250 – 300
Neelankarai 6,000 15,000 12,000 20,000 150 – 200
Nandambakkam 5,000 6,500 9,000 18,000 80 – 120
Perungudi 5,000 6,000 8,000 12,000 80 – 120
R A Puram 9,800 16,000 16,000 28,000 500 – 600
Royapettah 7,500 14,000 14,000 20,000 250 – 300
Santhome 8,000 13,000 9,000 21,000 200 – 250
Sholinganallur 4,000 4,500 8,000 16,000 70 – 80
Thiruvanmiyur 9,500 14,000 12,000 27,000 225 – 300
Thuraipakkam 4,000 4,500 7,000 14,000 75 – 90
Triplicane 8,000 13,800 8,000 16,000 200 – 250
NORTH
Ambattur 4,000 4,500 8,000 13,000 80 – 100
Aminjikarai 8,000 10,000 7,000 16,000 200 – 250
Anna Nagar 9,000 14,000 16,000 26,000 250 – 350
Anna Nagar West Extn 8,000 10,000 12,000 18,000 120 – 150
Avadi 3,000 3,500 5,500 8,000 65 – 70
Chetpet 8,000 11,000 7,000 14,000 225 – 300
Ayanavaram 7,000 7,500 6,500 16,000 150 – 200
Kilpauk 8,000 14,000 16,000 25,000 250 – 300
Kolathur 4,000 4,500 7,000 10,000 70 – 80
Madhavaram 3,800 4,200 6,500 8,000 75 – 80
Mogappair East 4,500 6,000 8,000 16,000 90 – 120
Mogappair West 4,250 5,500 7,000 15,000 80 – 100
Nolambur 3,500 4,000 6,500 8,000 65 – 70
Purasawalkam 9,000 12,000 12,000 24,000 250 – 300
Poonamallee 2,800 3,600 6,000 8,000 30 – 40
Perambur 4,500 5,000 8,000 12,000 80 – 90
Shenoy Nagar 9,000 12,000 12,000 18,000 220 – 300
Vepery 7,300 10,000 6,500 16,000 150 – 180
Villivakkam 6,500 7,000 6,000 15,000 90 – 110
SOUTH
Alandur 6,000 7,000 8,000 14,000 85 – 95
Adambakkam 5,000 6,500 6,500 9,000 90 – 110
Ashok Nagar 7,500 12,500 9,000 18,000 150 – 200
Chromepet 3,800 4,700 7,500 16,000 80 – 100
Ekkaduthangal 7,000 10,000 7,000 20,000 150 – 180
Guindy 8,000 12,000 8,000 20,000 225 – 250
Medavakkam 3,800 4,500 7,000 15,000 70 – 90
Madipakkam 3,500 4,300 7,000 12,000 60 – 70
Mugalivakkam 3,000 3,800 6,000 9,000 55 – 60
Manapakkam 3,600 4,500 9,000 18,000 120 – 150
Nanganallur 4,500 5,000 8,000 12,000 100 – 120
Nandanam 9,000 14,000 15,000 25,000 250 – 300
Saidapet 7,000 8,500 8,000 17,000 160 – 200
Selaiyur 3,500 4,200 5,500 9,000 80 – 90
Tambaram East 3,800 4,500 7,500 15,000 80 – 110
Tambaram West 3,200 4,500 7,000 14,000 80 – 100
Teynampet 9,000 15,000 15,000 30,000 275 – 400
T Nagar 9,000 12,000 9,000 23,000 250 – 350
Velacheri 6,000 7,000 7,500 16,000 180 – 220
Kottivakkam 6,000 7,500 8,000 20,000 150 – 200
WEST
Alwarthiru Nagar 4,300 5,000 8,000 16,000 110 – 130
Arumbakkam 7,500 9,000 8,000 17,000 180 – 225
Choolaimedu 7,000 9,000 8,000 17,000 180 – 225
Iyyappanthangal 4,000 4,000 9,000 18,000 200 – 250
K K Nagar 6,500 8,000 8,000 17,000 180 – 230
Kodambakkam 8,000 10,000 7,000 19,000 200 – 250
Koyambedu 7,000 8,500 8,000 20,000 130 – 150
Maduravoyal 4,500 5,400 6,500 14,000 70 – 80
Nungambakkam 11,000 15,000 16,000 30,000 300 – 350
Porur 3,700 4,200 5,000 8,000 60 – 65
Ramapuram 4,200 5,000 6,000 10,000 70 – 85
Saligramam 6,000 7,000 9,000 18,000 110 – 150
Vadapalani 8,000 12,000 9,000 20,000 200 – 270
Valasarawalkam 5,500 6,500 7,500 16,000 150 – 170
Virugambakkam 5,000 6,000 7,500 17,000 120 – 130
OUTER
Puzhal 1,800 2,500 4,000 7,000 10 to 12
Pammal 2,700 3,300 5,000 8,000 10 to 14
Siruseri 3,000 4,000 8,000 16,000 45 to 50
Padur 3,000 3,500 7,000 15,000 35 to 40
Kelambakkam 2,700 3,000 6,500 14,000 30 to 35
Sriperumbudur 2,200 2,500 5,000 7,500 12 to 18
Vandalur 2,500 3,600 5,000 8,500 20 to 25
Singaperumal Koil 2,000 2,500 4,500 6,500 15 to 20
Oragadam 2,500 3,200 6,000 7,000 15to 17


Source:chennairealty.biz

Now, build your independent dream home in villa plots starting at just Rs. 7.57* lakhs.


Located on ECR, Chennai, ‘Your Villa Plots’ at Lake View Gardens give you the opportunity to build your very own villa, designed the way you’ve always wanted to.

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Located on ECR, Chennai, ‘Your Villa Plots’ at Lake View Gardens give you the opportunity to build your very own villa, designed the way you’ve always wanted to.

  • Serviced villa plots for complete design flexibility
  • Private plots separated by garden areas
  • Black-top roads and avenue trees
  • Open air theatre and children play areas
  • Lakeview, Linear, Rock, Bodhi & Geriatric gardens
  • Lake fountains, deck and duck pond
  • Fully equipped clubhouse

Enjoy special benefits with membership to Greater Swarnabhoomi Citizen’s Club.

Visit : http://www.swarnabhoomicityscapes.com/

AMRITA RESEARCH AND INNOVATION PARK – IT-ITES OFFICE SPACES – Marg Swarnabhoomi


Amrita Research & Innovation Park (ARIP) is part of a Multiservices Special Economic Zone of MARG Swarnabhoomi. With over 6 lakh square feet built-up space, ARIP addresses to every minute requirement of IT/ITES companies and is poised to cater to the new generation IT requirements. Packaged as an innovative solution, unlike traditional IT parks (mere infrastructure), ARIP offers 360 degree solutions right from IT/ITES space, accommodation, leisure & entertainment and education while learning.

Spread over 7.84 acres of land, ARIP consists of two equivalent towers of 2.76 lakh sq feet each. Two towers are connected with a walkway at 3rd floor. Apart from the basic IT infrastructure required for IT/ITES companies, ARIP is designed in such a way that it receives more natural light and air flow, making it energy efficient. A floor height of 4.05 meters makes the employees more comfortable to work with less fatigue. All these features combined with walk-to-work lifestyle to offer better productivity for the companies.

As a packaged solution, ARIP offers an unmatched lifestyle for the employees of its clients who live in MARG Swarnabhoomi. All the employees can avail the facilities of MARG Swarnabhoomi such as indoor & outdoor sports complex, CBSE based school, Medical services, ATM, Departmental store, and Multi-purpose auditorium etc. Plans are afoot to develop DhyanaDham, Adventure sports and water sports at MARG Swarnabhoomi.

Benefits to IT/ITES companies

  • ARIP is a part of Multi Services SEZ – companies can avail all the SEZ benefits such as corporate taxes etc
  • Located in serene environment, which encourages innovation and fresh thoughts
  • Reduced rental/lease costs
  • Reduced Operational Costs – power, transportation costs
  • Companies can concentrate on their core competencies – instead of concentrating on other activities like transportation and safety & security of the employees etc
  • Lesser travel time brings in better work-life balance and ultimately results in more productivity
  • Improved employee retention because of better work-life balance

Benefits to IT/ITES employees

  • Better work-life balance – an accomplished escape from the world of frustrations offered by the current cities
  • Savings up to Rs.8000/- in the monthly budgets including transportation costs and living costs etc
  • More free time to cherish unfulfilled dreams such as learning music, playing games/sports with families and education while learning etc
  • Healthy lifestyle because of serene, pollution free and frustration free environment
  • Safe secured place to live in

For more details, please contact 9790964952/ 8754481700 or multiservices@margswarnabhoomi.com

MARG LIMITED REVENUE GROWS BY 52%


Marg Limited is one of the best builders in chennai developed low budget flats in chennai.

Financial Highlights

Q3 2011-12

  • Standalone revenue up at Rs.483 crores in Q3 FY12, increase of 52% over Q3 FY11
  • EBITDA for Q3 FY12 is Rs.41.4 crores, increase of 18% over Q3 FY11 EBITDA of Rs. 35.2 crores
  • PAT of Q3 FY12 at Rs.18.4 crores as compared to Rs.15.9 crores in Q3 FY11

MARG Limited – Standalone Entity

Financial Performance

INR Crores

Q3 2011-12

Q3 2010-11

Q-o-Q Change

Revenue

483.0

317.3

52%

EBITDA

41.4

35.2

18%

PAT

18.4

15.9

15%

Chennai, January 27, 2012: MARG Limited, India’s leading diversified infrastructure development company, announced its financial results for the quarter ended December 31, 2011.

The company recorded a 52 percent increase in net sales, which stands at Rs. 483-cr in the third quarter of 2011 – 2012, as compared to Rs. 317.3-cr in the Q3 2010 -2011. The net profit for the quarter ended December 31, 2011 stands at Rs. 18.4-cr, a 15 percent increase from Rs. 15.9-cr registered in the same period last year. ?

Business Highlights

  • Karaikal Port handled 1.45 MMT of multi cargo during Q3 ending Dec 31, 2011 (YTD FY12 ~ 4.4 MMT)
  • KPPL received the final tranche of PE investment of Rs. 50 Crores from Ascent Capital
  • EPC revenue of MARG Limited at Rs. 465 crores in Q3 FY12, growth of 55% over the Q3 FY11 revenue of Rs.300 crores
  • Current EPC order book at around ~Rs.3250 crores, external orders account for ~35%
  • MARG ProperTies, the residential arm of the company sold 98 units (0.11 MSFT) in Q3 2011-2012. Total sales till Q3 FY12 at 409 units with sale value of Rs.127 crores
  • Construction of MARG Junction Mall, one of the largest mixed use developments in Chennai, is on schedule; deals for ~55% of the leasable space in the mall area have been finalized

Commenting on the company’s performance in the quarter ended December 31, 2011, GRK Reddy, Chairman & Managing Director, MARG Limited said, “Our results for the quarter ended December 31, 2011 are very encouraging. Despite the challenging business environment, our income has increased by a healthy 52 percent. This has laid the foundation for MARG to be a billion dollar organisation in the next two years. EPC will continue to be the core thrust area for MARG. MARG Karaikal Port, MARG Swarnabhoomi and MARG ProperTies will be the key growth drivers.”

Performance of Business Verticals

EPC Business

  • EPC revenue of MARG Limited at Rs. 465.2 crores in Q3 FY12, growth of 55% over the Q3 FY11 revenue of Rs.300 crores
  • Current EPC order book at around ~Rs.3250 crores, external orders account for ~35%
  • Continued strengthening of human capital and technological capabilities to focus on specialized projects in the industrial infrastructure space

Marine Infrastructure

Karaikal Port

  • Handled 1.45 MMT of multi cargo during Q3 FY11. Total cargo handled till Q3 FY12 is 4.39 MMT
  • Revenue of Rs. 57.9 crores during Q3 FY 2011-12 (Provisional); Total revenue till Q3 FY12 at Rs.163.9 crores, EBITDA at Rs. 68.7 crores and PAT at Rs. 25.3 crores
  • Received the final Tranche of PE Investment of Rs. 50 Crores from Ascent Capital
  • Handled 294 rakes for the Q3 FY12 and 1,569 rakes since commencement of rake operations
  • Financial Closure for Phase 2A Extension achieved for Rs. 437 crores with four banks
  • Successfully completed the Construction of Berth 3 & 4

Urban and Industrial Infrastructure

MARG Swarnabhoomi

Engineering SEZ

  • Virgo and TVS Kwik Patch have commenced operations
  • MOU signed with Twin Disc U.S for their new marine transmissions manufacturing unit, DC approval obtained
  • LOI’s signed with Tecpro Energy Systems and Eswari Electricals to set up their export oriented unit at the engineering SEZ

Science Park

  • Significant progress made on the Construction of phase-I spread over 210,000 sq ft of Wet Laboratory building, building would be ready for occupation by March,2012

Knowledge Hub

  • Premier Institutions in Australia have shown positive response for tie-ups for vocational education and other allied courses and the education services team is working on structuring business models
  • Talks are in final stages to sign MOU with a leading Malaysian university to set up an international campus in India for offering various courses in design, hospitality, tourism, languages, music and management education

Residential

  • Total of 245 units were sold during Q3 taking the total Swarnabhoomi residential sales since inception to 1687 units
  • “Four Seasons” , a new product in the high rise residential space category was launched in Q3

Real Estate

MARG ProperTies – Residential Business

  • Sale of 98 units (0.11 MSFT) in Q3 2011-2012. Total sales till Q3 FY12 at 409 units with sale value of Rs.127 crores
  • Since Inception (ITD), MARG ProperTies has sold 1660 units (1.79 MSFT) with a booking value of Rs.445 crores
  • Handing over of apartments to the customers has already started in Pushpadruma – 466 units scheduled to be handed over in Q4/2011-2012 and Vishwasakthi Phase 1 – 192 Units is scheduled for handing over in Q4/2011-2012.
  • MARG ProperTies is set to launch a new project in Q4/2011-2012 with 204 units with sale value of Rs.73 crores.

MARG Junction, OMR – Commercial Business

  • Development of the project is on schedule, expected to commence operations in FY13
  • Deals for ~55% of the leasable space have been finalised – healthy pipeline for remaining space
  • Key clients include PVR, Shoppers Stop, Hyper City; mini- anchors confirmed LOI are Reliance Trends, Blue – O and Timezone; Vanilla clients include HP, Ryaban, Archies, Levis, Wrangler, Lee, Woodland, Nike, Mufti, Cannon, Riyaa, Casio, Eva, Denizen, Marry Brown, Dosa Plaza, Kushal Jewelers, among others?
  • Agreement with Shangri-La executed for development of Hotel and Interior Design concept is finalized.

Other Highlights

Awards received

  • GRK Reddy recognized as ‘Outstanding Entrepreneur’ at Asia Pacific Entrepreneurship Award in November 2011 at New Delhi
  • MARG Limited recognized for its “Outstanding contribution in Port Sector projects” at the EPC World Awards 2011 held at Bangalore on 17th Dec 2011
  • In January 2012, GRK Reddy received the Special Jury Award at the Gateway Awards of Excellence 2012 in recognition of his visionary role in building the Karaikal Port

About MARG Group:

MARG Limited (BSE: 530543), incorporated in 1994 and headquartered in Chennai, is an infrastructure major with presence across the value chain. The Company is listed on the Bombay Stock Exchange and its shares are traded on the NSE under the category of ‘Permitted Security’.

With over two decades of reassuring presence and the credit of pioneering the development of economic growth centers, MARG’s portfolio spans across the entire infrastructure value chain – urban and industrial infrastructure, urban residential clusters, marine infrastructure & services, malls and EPC division. The group is expanding its sectoral presence with airport projects in Bellary & Bijapur and Multi-level car park projects. Listed by Dun & Bradstreet among “India’s Top 500 Companies 2010”, today MARG Group has projects worth more than Rs. 3000 crores under execution, a seasoned human capital of more than 1300, global partners in the Infra space and offices spread across India, Singapore and China.

For more information, visit http://www.marggroup.com

For More Details :

Company Website : www.margswarnabhoomi.com

For further information contact:

Sakthi Prasanna 
Hanmer MS&L 
M: +91 98842 77251

A colloquium on “Catalyzing Research and Innovation to address emerging needs”


~ To mark the setting up of Innovation Center at MARG Swarnabhoomi in strategic collaboration with Virginia Tech, USA ~

~Energy Harvesting, Cognitive Radio and Nano Technology identified as core thrust areas ~

~Attended by Jim Duffey, Secretary of Technology, Virginia State, USA~

Chennai, November 18, 2011: Indo-American Chamber of Commerce in association with MARG Ltd & Virginia Tech today organised a colloquium on “Catalyzing Research and Innovation to address emerging needs.” The discussion focused on the urgent need for R&D to develop new or customized products and services that address features of affordability, scalability, durability and sustainability.

A distinguished panel addressed a gathering of like–minded thinkers, social entrepreneurs, scientists and educationalists apart from others. Jim Duffey, Secretary of Technology, Virginia State, USA was the key note speaker of the panel discussion. Some of the other panelists included – John E. Dooley, Vice President for Outreach and International Affairs, Virginia Tech, James Golsen,Principal Commercial Officer, U.S Consulate, Raman Govindarajan, Chairman, Indo-American Chamber of Commerce (Tamil Nadu branch) and GRK Reddy, Chairman & Managing Director, MARG Group.

The panelists stressed upon different facets of global economic growth and the industrial revolution which acted as catalysts in creating new economies causing the big leap in development, and upliftment of the standard of living of the masses. It also discussed on the research & innovation priorities for India and the need of R&D to develop new or customized products & services that are tailor made for India.

Jim Duffey, Secretary of Technology, Virginia State, USA, said “The evolution and usage of all industrial development across North America, Europe and Japan has been heavily influenced by the affordability and needs of those societies. Even though India benefited from most of these technologies, the hugely different social construct in India calls for a new direction of customized research and development to suit our specific and unique needs”.

At this juncture when India is fast emerging as a global Research and Innovation hub, MARG and Virginia Tech, USA are jointly collaborating to set up a Center of Research through Virginia Tech’s Institute for Critical Technology and Applied Science (VT-ICTAS). The Center will be located in the smart eco-system of MARG Swarnabhoomi, the campus of education, research, innovation, industry and living (located mid-way between Chennai and Pondicherry, on the scenic East Coast Road). This Innovation Center proposes to address large scale research opportunities by challenging traditional disciplinary and academic approaches. The three identified initial focus areas of Research will be

  • Energy Harvesting
  • Cognitive Radio and
  • Nano Technology

The speakers opined that offering quality products and services at affordable price has always been the biggest challenge in India. With nearly 600 million people in the lower income group, the needs and priorities of India differ from the developed world. There is an urgent need for R&D to develop new or customized products and services that address features of affordability, scalability, durability and sustainability in areas of housing, education, energy, health care, transportation, infrastructure, environmental conservation, public policy, governance, urban planning etc. It also requires innovative approaches supported by interdisciplinary research transcending global boundaries

As a part of the elite panel, GRK Reddy, Chairman & Managing Director, MARG Ltd. said, “Research and Innovation will drive the Indian Economy of the future. At MARG Group, we try and innovate constantly and we are conscious that India today requires a leadership role in cutting edge research and radical thinking as a platform for breakthrough innovation. I am confident that our collaboration with Virginia Tech to set up a Innovation centre at MARG Swarnabhoomi is not just timely but will also soon influence every aspect of our life through affordable new products & services, thereby improving living standards of billions in India and around the world”

While discussing the 3 areas of collaborative research and innovation that MARG and Virgina Tech i.e. Energy Harvesting, Cognitive Radio and Nano Technology, the speakers stressed that these are critical product development areas that will radically reshape our economies, labour market, social structures and indeed our entire relationship with the natural world.

Companies are setting up Research & Innovation (R&I) centers in India to serve the local market as also to deliver new products faster to the global markets. 300 MNCs have already setup their R&I centers in India. MARG Swarnabhoomi, christened as the “Land of New Thinking” and uniquely integrating education, research, innovation, industry and living for co-existence of educational institutions, manufacturing & research companies, IT services firms, housing and healthcare facilities all under one roof , is only leading this trend.

Commenting on the need of research initiatives, John E. Dooley, The Vice President for Outreach & International Affairs, Virginia Tech, said “The research areas such as Energy Harvesting, Cognitive Radio and Nano Technology have far reaching implications and business opportunities for various industries and could result into affordable new products and services for improvement of the living standards of billions of people inside and outside India. With active participation and collaboration by the industry, academicians and researchers, it is possible to discover better solutions that could make a difference in terms of National/Global impact.”

With concerted efforts by public & private sectors catalyzed by a ‘reverse brain drain”, a favorable Research & Innovation environment has been created in India. Although, investment in R&D has been negligible (0.8% of GDP in the last decade) for a long time in India, this is now likely to move forward towards the trend in developed countries (investing in the range of 2.5% to 4.5% of their GDP)

Adding to the discussion, Raman Govindarajan, Chairman, Indo-American Chamber of Commerce (Tamil Nadu branch), said“Congratulations to MARG and VIRGINIA TECH for this wonderful facility in Tamil Nadu for Innovation and Advanced Research on very useful subjects to the society like Energy Harvesting etc. This event re-iterates the emergence of India’s on Education Sector, besides creating quality professional workforce, which is now the envy of the world, besides having projects like this which will uplift of the quality of life for the common man”

The colloquium ended with positive estimates on growth of research and innovation in India and its likely impact on India’s economy and growth as a ‘super-power’.

About IACC

Established in 1968, the Indo-American Chamber of Commerce (IACC) is a non-government, industry led and industry-managed organization, playing a proactive role in India’s development process and serves as a much needed link between the business communities of India and the United States of America. IACC is the only bilateral Chamber of Commerce in India, which is committed to development of Indo-US business and trade relations.

The major objective of IACC is to promote Indo-American business, trade and economic relations. IACC promotes bilateral trade, investment and technology transfer, facilitates business collaborations, joint ventures, marketing tie-ups and strategic alliances through a set of proactive business-oriented initiatives.

In addition, the chamber will initiate debates and prepare issue based white papers on Indo-US trade related issues in the context of Double Taxation, Intellectual Property Rights and Totalization Treaty.

IACC acts as a catalyst for sustainable growth of business between India and the US. In its four decades of existence, IACC has established operational connectivity with a host of business, research and developmental institutions in India and US in order to leverage each others capabilities for enhancing Indo-US business relations.

About MARG Ltd.

MARG Limited (BSE: 530543), incorporated in 1994 and headquartered in Chennai, is an infrastructure, real estate development and services company. The Company is listed on the Bombay Stock Exchange and its shares are traded on the NSE under the category of ‘Permitted Security’. The holistic regional development undertaken by the group is unlocking economic prosperity and creating inclusive & sustainable growth models.

With over two decades of reassuring presence and the credit of pioneering the development of economic growth centers, MARG’s portfolio spans across the entire infrastructure value chain – urban and industrial infrastructure, urban residential clusters, marine infrastructure & services, malls and EPC division. The group is expanding its sectoral presence with airport projects in Bellary and Bijapur and Multi-level car park projects. Listed by Dun & Bradstreet among “India’s Top 500 Companies 2010”, today MARG Group has projects worth more than Rs. 5000 crores under execution, a seasoned human capital of more than 1000, global partners in the Infra space and offices spread across India, Singapore and China. The MARG CSR brand – MARG Parivarthan complements these business verticals. More information on MARG is available on http://www.marggroup.com

ABOUT VIRGINIA TECH

Virginia Tech, a land-grant university, is the largest university in the Commonwealth of Virginia, and is among the top research universities in the United States. Founded in 1872, the university’s campus covers more than 2,600 acres. It has enrollment of approximately 30,000 undergraduate and graduate students from 50 states and more than 100 countries study in 180 academic degree programs. Virginia Tech is engaged in graduate education, scientific and technological collaborative research, and scholarly outreach programs in different disciplines.