The city’s metro authority plans to develop about 73.4 lakh square feet of commercial space across at least 37 locations along its Phase-II metro corridors. This marks a major shift, as the development will extend beyond station premises into nearby land parcels. The initiative reflects a new urban development model where metro construction actively shapes city growth. The primary goal of this strategy is to monetize land assets, generate non-ticket revenue, and improve the long-term financial sustainability of the expanding metro network. By encouraging denser development within a 500-metre radius of metro stations, planners expect changes in commuting behavior, with more people opting for public transport instead of private vehicles. A key principle behind this approach is transit-oriented development, which focuses on increasing public transport usage and reducing road congestion. However, its success depends heavily on the quality of pedestrian infrastructure. Without safe, continuous, and accessible walking paths, commuters may continue to rely on personal vehicles despite proximity to metro stations. Several prominent residential, commercial, and transport-oriented locations have been identified for development, including areas near major temples, residential zones, IT corridors, and multimodal transport hubs. Planned projects include integrated commercial buildings connected directly to underground stations, as well as standalone commercial structures located within walking distance of metro access points. These developments are expected to form commercial clusters around transit nodes, increasing daily footfall and economic activity. At some locations, multi-storey buildings with direct station access are planned on relatively small land parcels, optimizing space usage while providing substantial built-up area. In residential neighborhoods, commercial buildings with basements are proposed, along with additional integrated structures nearby. Phase-II is significant because it is the first time large-scale property development is being undertaken beyond station footprints, following models seen in other major Indian cities. Construction is expected to begin at key terminal and depot locations, followed by work at other major junctions. Each property will be developed through design-and-build contracts. In earlier phases, development was largely limited to high-rise towers near central transport hubs, multimodal complexes, and leasing retail spaces within stations. Phase-II expands this model by pushing development into surrounding areas, reinforcing the idea that metro systems can act as anchors for urban growth rather than just transport infrastructure. Experts caution that while such developments can significantly boost ridership, their success depends on keeping mobility and accessibility at the core. Poor pedestrian access or unsafe walking conditions could weaken the intended benefits of transit-oriented development.

Residents in Nolambur and Maduravoyal are set to receive long-awaited relief as a newly constructed four-lane bridge across the Cooum River is expected to open within a week. The 150-metre bridge, built at a cost of Rs 4.5 crore (excluding land acquisition expenses), will directly connect Union Road—linking Maduravoyal and Mogappair—to Poonamallee High Road, significantly improving east–west connectivity in the area.

Final works on the project, including installation of streetlights and relaying the last stretch of bituminous road, are currently underway. Once completed, the bridge will replace the decades-old low-level causeway located about 20 metres away. Constructed in 1996, the causeway frequently submerges during monsoon rains and has long been considered structurally weak, particularly for heavy vehicles. During flooding, motorists are often forced to take a nearly five-kilometre detour via Mogappair to access an alternative four-lane bridge.

The new bridge is expected to reduce travel time by 10 to 15 minutes and provide seamless access to the state highway network. This improvement will benefit several residential communities and gated developments that have emerged in and around Nolambur and Maduravoyal over the years.

Authorities have also acquired approximately 4,396 square metres of private land to facilitate direct approach roads and improve traffic flow at both ends of the bridge. The structure is expected to ease congestion, enhance safety during the monsoon season, and provide a reliable all-weather crossing for thousands of daily commuters.

With Metro rail services set to begin soon on the 14.6-km Poonamallee–Porur stretch in Chennai, the State Highways Department has cleared a total of 3,214 long-standing encroachments along the busy Mount–Poonamallee High Road to ease traffic congestion and improve road safety. For more than a decade, nearly one-third of the 20-ft-wide highway—connecting the Poonamallee Bypass to Porur Junction—had been occupied by illegal buildings, extensions, pavement shops, and roadside vendors selling fast food and meat. These encroachments significantly reduced the usable road space and led to frequent traffic bottlenecks on one of the city’s key arterial corridors. During a recent inspection, it was observed that most roadside shops had been removed and building projections extending onto the carriageway had been demolished. The reclaimed space has considerably widened the road, allowing smoother movement of heavy vehicles and private cars. According to a senior official from the State Highways Department, the stretch witnesses close to one lakh vehicles every hour. “The original road width was around 20 feet. With the encroachments cleared, we are planning to widen it by an additional two to three feet. The work will begin in the coming days and is expected to be completed before April,” the official said. However, concerns remain over traffic management. Despite most of the Metro construction being completed, several junctions still lack proper diversion boards and clear traffic signals. Officials have been urged to install adequate signages along the entire stretch to ensure commuter safety and smooth traffic flow. The encroachment clearance and proposed road widening have been widely welcomed by commuters, as the measures are expected to reduce congestion, improve road safety, and allow freer movement of vehicles along the busy corridor.

The Chief Minister inaugurated a series of state energy sector projects worth Rs 1,971 crore through a video conference. These projects include the commissioning of 38 power substations designed to cater to the electricity needs of a major city and its surrounding suburban areas, the implementation of underground power supply systems in temple car streets across the state, and the electrification of a remote tribal village located in a hilly region.

Among the newly inaugurated infrastructure are a high-capacity 400/230 kV gas-insulated substation, two 230 kV substations established in different districts, and 13 smaller substations developed by the state power distribution utility at a total cost of Rs 1,067 crore. In addition, several existing substations were upgraded with the installation of additional power transformers, increasing the overall capacity to 4,649 MVA across 110 substations statewide.

To ensure uninterrupted power supply and improve public safety during festivals, religious events, and public processions, underground power supply systems were also inaugurated in temple car streets of major temples across the state. These initiatives aim to enhance power reliability, reduce outages, and minimize risks associated with overhead electrical lines, while supporting overall urban and rural development.

In a New Year bonanza for property owners, the Tambaram City Municipal Corporation has reduced charges for name changes in property tax records and introduced a uniform fee structure with effect from January. Until now, charges were calculated based on the market value of the property, often resulting in residents paying anywhere between Rs 15,000 and Rs 40,000, depending on the size and value of the property. Under the revised system, a flat fee of Rs 500 will be charged for residential properties, while non-residential or commercial properties will attract a fee of Rs 1,000. The move brings Tambaram in line with the Greater Chennai Corporation, which already charges Rs 500 for property tax name transfers. Adopting a similar model is expected to significantly reduce costs for people purchasing property within Tambaram Corporation limits. The revision follows a government order under the updated Tamil Nadu Urban Local Bodies rules, which standardize property tax name transfer fees across the state from January. Residents, particularly in areas such as Chromepet, had earlier raised concerns about being asked to pay high amounts based on property value. In several cases, revised assessments led to sharp increases in half-yearly property tax, creating confusion despite earlier assurances that previous dues would be waived. The new uniform fee structure is expected to address these issues and bring greater clarity and relief to property owners.

The rising participation of women homebuyers is emerging as a defining trend in Chennai’s residential real estate market, driven by factors such as financial independence, a growing sense of personal security, and a long-term investment outlook. This shift was evident at a recently held three-day property exhibition, where one out of every three home bookings was made by women buyers. The trend highlights a steady increase in independent ownership and property investments among women professionals, reflecting their expanding role as primary decision-makers in real estate purchases. Many women buyers are showing a preference for 1 BHK and 2 BHK homes, prioritizing practical layouts and affordability. Connectivity and neighborhood safety remain key considerations, with buyers gravitating toward well-connected localities that offer a secure living environment. For several women, homeownership is also viewed as a stable investment option that provides long-term financial security. Another important factor influencing this trend is the challenge women face in securing rental housing in the city. As a result, many prefer to channel their monthly expenses toward equated monthly installments EMIs for their own homes rather than spending on rent and large advance deposits. This approach offers both emotional reassurance and asset creation. Apartments emerged as the primary revenue driver at the exhibition, generating over Rs 251 crore from 190 unit bookings. Among apartment configurations, 2 BHK homes remained the most popular choice, accounting for nearly half of total bookings. 3 BHK units followed closely, contributing a significant share of bookings while generating the highest revenue within the apartment segment. This pattern points to an ongoing upgrade cycle, with families increasingly opting for larger homes that offer more space, flexibility, and comfort. From a location perspective, southern suburbs of the city dominated apartment sales, accounting for nearly half of the total bookings. Plotted developments also continued to attract steady interest, particularly in emerging growth corridors. Strong buyer demand was observed along OMR, GST Road, and ECR, driven by ongoing infrastructure development, improved connectivity, and expectations of long-term capital appreciation. Overall, the increasing presence of women homebuyers is reshaping demand patterns in the city’s residential market, influencing housing preferences, location choices, and investment behaviour.

Home Loan Interest Rates Overview – February 2026

Planning to take a home loan requires careful evaluation, as interest rates can vary significantly depending on the lender and the borrower’s profile. Across the country, lenders offer a broad range of home loan interest rates influenced by factors such as credit score, income stability, loan amount, tenure, and repayment history. Because loan terms and pricing differ, comparing available options thoroughly is essential to secure the most suitable and cost-effective deal.

At present, home loan interest rates in the market generally begin at around 7.10% per annum for borrowers with strong credit profiles and can go up to approximately 11.90% per annum for higher-risk or specialized cases.

Current Interest Rate Ranges (Indicative)

• Several lenders are offering starting rates of about 7.10% p.a., with upper limits ranging between 9.15% and 10.25% p.a.

• Some options fall within a mid-range bracket of 7.15% to 9.55% p.a., depending on borrower eligibility and loan conditions.

• A few lenders provide home loans beginning at 7.45% to 7.75% p.a., with no fixed upper cap disclosed, as rates may rise based on risk assessment.

• Other offerings start between 7.80% and 8.00% p.a., with maximum rates extending up to 9.30% to 11.90% p.a.

What Borrowers Should Know

• Lower interest rates are typically available to applicants with high credit scores, stable income, and lower loan-to-value ratios.

• Higher rates may apply to borrowers with lower credit scores, longer tenures, or non-standard income profiles.

• Interest rates may be floating or fixed, and can change over time based on market conditions and policy decisions.

Before finalizing a home loan, borrowers should compare interest rates, processing fees, prepayment terms, and flexibility in repayment to make an informed decision that aligns with their long-term financial goals.

India’s central bank has maintained the repo rate at 5.25%, opting for continuity in its February 2026 policy review. The decision provides near-term stability for borrowers and savers, even as expectations of a further rate cut had been building among households. With the policy rate unchanged, borrowers with floating-rate loans are unlikely to see any immediate change in their EMIs. In most cases, loan repayments only move when banks reset lending rates or adjust spreads, so a pause typically means EMIs neither rise nor fall automatically. As a result, cheaper credit may take longer to reach consumers despite earlier rate reductions since early 2025. For savers, the decision keeps the current fixed-deposit rate environment largely steady. Banks continue to offer competitive returns on longer tenures, with some senior citizen deposits still earning up to 7–7.5%. However, deposit rates can be repriced quickly once system liquidity improves, making timing an important consideration for those locking in returns. The broader backdrop remains complex. Bond yields have stayed relatively firm even after earlier policy easing, influencing how efficiently lower rates are transmitted through the banking system. At the same time, global uncertainties have increased, while recent trade developments have provided some support to the economic outlook. The policy stance remains neutral, signalling that future rate moves will be guided by incoming data on inflation and economic growth rather than market speculation. For households, the message is clear: the central bank has prioritised stability for now, and any further easing will depend on how macroeconomic conditions evolve in the coming months. Overall, borrowers benefit from predictability, while savers are encouraged to plan deposits carefully, balancing current returns against the possibility of future repricing.

A listed microfinance-focused lender is currently in discussions with two non-banking financial companies (NBFCs) operating in the micro loan against property (micro-LAP) segment to acquire a majority stake. The move is part of the lender’s strategy to pursue inorganic growth and strengthen its presence in secured lending, according to people familiar with the matter. The lender has recently entered the micro-LAP business as part of a broader effort to diversify its product portfolio and reduce its dependence on the unsecured microfinance lending segment. Industry observers note that pursuing an acquisition would allow the lender to build a stronger operational platform in the micro-LAP space more quickly than relying solely on organic expansion. According to a person close to the development, the lender is evaluating a majority stake acquisition primarily to gain technical and operational expertise. Lending against property requires specialized skills, including accurate property valuation, legal due diligence, and verification of property titles, which differ significantly from the processes used in unsecured microfinance lending. Acquiring an established player would help the lender onboard experienced teams and proven systems rather than building these capabilities from scratch. This potential acquisition aligns with a broader industry-wide diversification trend among non-banking financial companies—microfinance institutions (NBFC-MFIs). The shift follows a recent regulatory change by the central bank, which increased the permissible exposure of NBFC-MFIs to non-microfinance loans to 40% of their total portfolio. Previously, these institutions were required to maintain at least 85% of their assets in microfinance loans, limiting non-microfinance exposure to just 15%. The relaxed norms have encouraged lenders to explore secured products such as loans against property, individual business loans, and other retail credit offerings. As per the latest available data, the lender’s assets under management (AUM) are still heavily skewed toward microfinance loans, which form the bulk of the portfolio. Individual loans contribute a smaller portion, while the loan-against-property book remains at a nascent stage, indicating significant headroom for expansion in secured lending. The lender has articulated an aggressive growth roadmap, aiming to expand its total loan book to approximately Rs 14,000 crore by the end of the current financial year, followed by around 20% growth in the next financial year. Strengthening the secured lending portfolio through acquisitions could support more stable asset quality and reduce volatility associated with unsecured lending cycles. On the market front, the company’s shares ended the latest trading session around 1.5% lower, closing at Rs 187.85 on the stock exchange, even as the broader benchmark index posted a marginal gain of about 0.2%. The decline suggests cautious investor sentiment, possibly reflecting near-term uncertainties around acquisition execution and integration, despite the long-term strategic rationale.