Steep Rise in Real Estate Sector of Chennai

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The real estate market of Chennai seems resilient to the international economic threats. It has witnessed exponentially healthy sales since the ticket size of the purchasers has augmented. Soon after the economic recession the real estate Chennai has faced steady rise with respect to demand, pricing, and supply. Chennai is well known for its traditional and conservative mind sets and this reflects easily on its commercial and residential real estate market trends. For example the home buyers in city Chennai have drastically been pushed by the location and other considerations. All this has put some specific limits on the demand of properties amongst the potential buyers residing in the city.

real estate sector chennai

Current trends of real estate Chennai

So far there was no scope for the progress and growth of large size integrated townships in Chennai but as per a current report, around 82,000 residential units are under construction in the real estate market of Chennai real estate .  Of these units, FY12 has experienced the establishment of nearly 14,900 units that are planned to be completed in coming 2-3 years.

The people living in Chennai have shown an unyielding preference towards residing in such integrated townships as they facilitate good educational institutions, entertainment, open spaces, wide roads, convenience stores, gardens, clubs, fitness center, and restaurants etc. The real estate developers are now more than delighted to construct projects of 12-30 units that are full of limitless amenities, large green cover, and round the clock security systems.

Metro – contributing in rising prices of real estate Chennai

Cities like Delhi, Bangalore, Kolkata, and Hyderabad have already witnessed drastic changes with the introduction of metro. If you perceive from the point of view of real estate market, every city with metro routes has been witnessing a real estate price boost. Other than the main areas, the peripheral regions of Chennai have also witnessed tremendous real estate price rise because of the metro passing through that particular areas. As per the real estate developers of Chennai, the Chennai metro is anticipated to promote a victorious revolution in the public transport picture.

Besides benefiting the transport sector there are other areas which will gain a lot with the introduction of metro in the city. These are listed below:

  • Robust infrastructural development
  • Augmented land rates
  • Urbanization in the region

The end-user Real Estate Market of Chennai

All this will force the government to promote the housing sector development by allowing additional FSI. The market of Real Estate Chennai is end user driven and so has been constant. The demand has been more evident in the mid end segment, mainly towards the posh locations of the city, where major economically priced projects are located.  Buying real estate has high inspirational value in Chennai. In the coming few years, Chennai expects a major change in the real estate market with a triggering growth of the integrated township projects and other infrastructural projects. The city expects that once such projects are fully accomplished, they will witness a decisive momentum with respect to well equipped and large residential and commercial constructions in Chennai.