iving a fillip to the long-pending 133-km peripheral ring road project between Singaperumal Koil and Mamallapuram, authorities have floated tenders for the final 30-km stretch. Proposed in 2019, the corridor will link Mahabalipuram with Ennore via Singaperumal Koil, Sriperumbudur, and Tiruvallur. The estimated project cost is ?15,000 crore, and officials expect completion within the next two years.

According to officials, work on the last stretch will begin soon and is expected to be completed within two years, followed by a seven-year maintenance period. More than 1,000 trees located along the right-of-way of the six-lane corridor — which can later be expanded to 10 lanes — have been identified for transplantation along the service lanes.

Four other stretches — Ennore–Thatchur, Thatchur–Thamaraipakkam, Tiruvallur–Sriperumbudur, and Sriperumbudur–Singaperumal Koil — have already been tendered. Some sections have achieved progress of up to 70%. The full corridor will feature 55 vehicular underpasses and multiple entry and exit points in key towns.

While national highways generally limit speed to 100 kmph, this corridor will permit 120 kmph, making it the first expressway of the state road network. The only other corridor with a similar speed limit is a national expressway under construction between Chennai and Bengaluru.

Once operational, travel time between Mahabalipuram and Ennore — currently around three hours via the 75-km route through the city — is expected to reduce to roughly one hour.

India’s residential real estate market continued its strong upward trajectory in Q2FY26, with top-listed developers reporting robust pre-sales, healthy collections, and sustained financial discipline, even as new project launches declined sharply. Pre-sales for the top 23 listed players rose 31% year-on-year to ?4.05 lakh crore, even though launch volumes dropped 61% YoY for the top 15 developers. Despite limited new supply, developers capitalised on resilient sustenance sales. The quarter saw strong contributions supported by marquee launches and strong brand equity. H1FY26 numbers also reflect this momentum: pre-sales for the top 21 players grew 34% YoY to ?8.73 lakh crore.

Developers moderated price hikes to preserve affordability. Average realisations for the top 20 increased 4% YoY, helping push volumes up 18% YoY to 30.65 msf. Collections, a key indicator of financial health, grew 15% YoY to ?266,444 mn in Q2FY26, aided by faster construction progress and steady customer inflows. Several leading developers reported strong double-digit growth.

Land acquisition remained a strategic priority. Developers allocated around 34% of H1FY26 collections to land capex, in line with FY25 levels, underscoring strong balance sheets and confidence in sustained housing demand. The most active investors in land parcels were among the top developers.

Soon, residents can look forward to living closer to work, more housing options, and better civic infrastructure. The upcoming third master plan is considering a higher FSI in key zones, mixed-use development, and phased upgrades to support compact, vertical growth across the city. The plan for the 1,189 sq km metropolitan area proposes higher FSI in targeted zones such as metro corridors, entertainment zones, commercial centres, and industrial belts to boost vertical development. According to officials, better use of city space — especially by increasing FSI near metros, malls, green zones, and industrial areas in a planned manner — will help more people live closer to work and transport, while maximizing existing infrastructure. Authorities are also planning improvements to underground amenities to support vertical growth. They note that increasing FSI without adequate infrastructure upgrades — particularly underground sewage, water supply, and road networks — could strain already overstretched civic services. Hence, utilities may be phased based on carrying capacity. Another important aspect highlighted is the need for stronger coordination among various agencies to ensure effective implementation of the master plan. The master plan is expected to be rolled out on schedule.

Chennai is rapidly emerging as the focal point of Tamil Nadu’s growing senior-living real estate sector, marking a notable shift from Coimbatore’s long-held prominence. As India’s silver economy evolves, attention is turning toward cities that offer strong healthcare networks, better mobility, and environments that allow seniors to age with dignity. Analysts note that this transition is driven not only by an ageing population but also by changing preferences among retirees, who increasingly favour well-connected urban locations over isolated settings. A major boost to the segment came earlier this week when a new premium senior-living initiative was announced within a large integrated township in Oragadam. Spread across 4.5 acres, the development features around 400 compact yet thoughtfully designed units aimed at retirees as well as families seeking assisted-living options for ageing parents. The choice of Chennai, according to industry observers, reflects rising demand for organised, service-oriented senior communities. Experts compare the current momentum to the early growth phase of the Oragadam township itself, which later evolved into a significant economic hub. Growth is not limited to Chennai alone. There is rising interest in Trichy, Madurai, Hosur, Puducherry, and Kanchipuram—locations that offer quieter surroundings and affordability, making them appealing to seniors. Market specialists note that today’s demand is centred on well-planned communities that balance comfort, healthcare access, and social engagement, moving beyond earlier care-centric models. Several ongoing senior-living developments in Chennai are expected to be completed by 2026, backed by stable demand and secured funding. Within the city, two major corridors have gained prominence. The GST Road stretch has seen large, integrated senior-living enclaves evolve over the past decade, supported by strong hospital networks and established infrastructure. Meanwhile, the East Coast Road (ECR) is emerging as a preferred zone due to its leisure-oriented environment and proximity to wellness facilities. Industry experts observe that retirees today value a lifestyle that combines independence with professional support services, with projections indicating sectoral growth of 25–30% annually over the next five years. Additionally, technology is playing a transformative role in shaping the senior-living market. Features such as smart sensors, remote health monitoring, emergency-alert systems, and voice-enabled home controls are becoming standard across projects. Urban consultants point out that while previous generations preferred quiet, secluded townships, modern seniors want to stay connected to the cultural and social life of the city. This shift aligns with a broader movement toward age-inclusive urban design that promotes active, sustainable living for older adults. With continued focus on sustainable planning, strong healthcare access, and environmentally responsible community development, Tamil Nadu is well positioned to become a national model for senior-friendly urban growth.

Homebuyers often face difficulties due to lack of proper information when purchasing property. However, with the Real Estate (Regulation and Development) Act (RERA) now in force, buyers can verify and validate project details through the official website, according to officials from the Tamil Nadu Real Estate Regulatory Authority (TNRERA). Speaking at an awareness programme on Saturday, authorities released a guide explaining RERA rules and highlighted how the Act enhances transparency, accountability, and trust in the real estate sector. They noted that RERA has reshaped the home-buying experience in the State by providing a secure and dependable investment environment. The Act also places equal responsibility on both buyers and developers, ensuring balanced protection for all parties involved. In case of disputes, RERA offers a structured and swift grievance-redressal mechanism, making it easier and more efficient for the public to seek remedies. The session also covered procedures for registering building and plot development projects, the obligations of developers in fulfilling commitments made to buyers, the process for extending project validity, advertising guidelines, and compliance requirements mandated by planning authorities and local bodies. Participants were also briefed on penalties for non-compliance. Industry representatives attending the event said the programme was highly useful, helping participants gain better understanding of regulatory processes and encouraging stronger adherence to the rules. More than 150 members from various real estate and development groups took part in the programme.

The promoter of a housing finance company has submitted a settlement plan to lenders, proposing to repay ?1,385 crore of outstanding dues over a 26-month period, along with accumulated interest, according to people familiar with the matter. The proposal was submitted late Wednesday, even as the firm—currently undergoing insolvency proceedings initiated by the regulator—has already received six takeover bids.Under the plan, the promoter has offered an upfront payment of ?350 crore, with accrued interest to be cleared within 24 months after the principal amount is repaid over the initial 26-month period. The proposal also includes full repayment of dues owed to operational creditors and employees. Additionally, the promoter has suggested that lenders appoint a professional CEO to oversee the business during the repayment phase. A five-member board, including two lender-nominated directors and an indemnity arrangement for these members, has also been proposed. Lenders have confirmed receiving the settlement plan, but approval appears uncertain. According to an official aware of the discussions, the Committee of Creditors is unlikely to accept the proposal due to allegations of fund diversion against the promoter, supported by findings from a forensic audit commissioned by the lenders. The official added that the promoter may not meet the required eligibility criteria. The promoter, however, expressed confidence in the company’s future and said the settlement plan, if approved without any lender haircuts, would help stabilise the business. The insolvency administrator declined to comment. As previously reported, one bidder has emerged as the frontrunner with the highest upfront cash offer, while the remaining interested parties have submitted competing bids. The Committee of Creditors is expected to meet next week to evaluate the proposals and has engaged an independent professional firm to assess their commercial viability.