The city is a major IT outsourcing hub for companies including Infosys, Tata Consultancy Services and Cognizant Technology Solutions.
In a statement, IT major Infosys said they were closing the campuses as a "precautionary measure".
Unconfirmed reports said the water has reached the first floor of the Accenture office.
IT major Tata Consultancy Services said that its offices in Chennai are also shut today and "the strong business continuity plans ensure that there is no impact on business."
Airtel said that its services have also been partially disrupted due to power failure and the company is working with local authorities to restore them.
"We at Airtel are relentlessly working with the local authorities to enable smooth mobile communication for Airtel customers across the city," the company said.
Anna University too, has been struggling with power outage.
The city's schools have been forced to close and exams have been postponed at least for this week. University exams have also been postponed.
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