Rising sea levels

It was with shock and disbelief I read this article in the Times where it was forewarned that Chennai could be hit very badly by rising sea levels and the IT corridor or the Princely Roads on ECR could be prime target for the sea waters..Is this true or is it only a presumption of the absurd environmentalist? If its true then what happens to all those bizarrely priced apartments being constructed on lands which I personally remember where tracks which were frequented by the less civilized of the society and the rest agricultural land where no notable agriculture would happen. These areas were the darker part of the city and what it is today would have been unthinkable even to the looniest of minds say 10+ years ago. So finally one only hopes that nothing of this sort happens and all those IT souls out there could rest in peace in their luxury villas adjoining their ultra modern offices located in concrete jungles ironically called 'Parks'