Providing a more stable and favourable IT environment, amidst the inherent potential of a vast and varied knowledge pool, robust infrastructure and cost-effectiveness, Chennai has emerged as a Southern star on the property scene. The software boom coupled with expats making Chennai their first choice has given a real boost to the real estate. There has been a major demand for residential development in Velachery, Madipakkam and Tambaram which are close to IT/ITES hubs. Prices have been significantly going up in southern Chennai because of its proximity to IT/ITES nerve centre as well as the preferred locality of the expats. Localities like Alwarpet, Boat Club, and Poes Garden have come up as upmarket residential areas, while places such as Velachery, Mogappiar and Thiruvanmixur are the favourite spots for budget apartments. The buoyancy in demand for houses across all categories and formats has continued in the past months. That for both high-priced and mid-priced flats has gone upward. The commercial real estate has been on the upswing as well in Chennai. In the last few years, IT companies were the prime occupants of commercial spaces. But currently the commercial property has got a boost from insurance, finance, telecom and banks. Retail property trends have been equally promising in Chennai which is the standing point for high profile organized retailing