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Trends for the real estate in Chennai

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Why Chennai?

1) The metros such as Delhi and Mumbai have already saturated. There is not much empty space left there for investment.

2) Chennai is the trade city of India. The number of IT and software companies here are increasing. This is the reason why a number of professionals are flocking in Chennai.

3) The population of Chennai is not as high as other metros, the infrastructure is good and the transportation is well maintained. The pollution levels here are low and one can avail a clean environment in the city.

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The real estate in Chennai continued being a promising market this year all thanks to the high residential property index as well as the high-quality infrastructure of the city.

This is the reason why a number of buyers as well as developers are attracted towards houses for sale in Chennai.

The current market trends played a part in the success and the progress that the city has achieved in it’s of real estate sector.

Here we will discuss some of the major trends in the real estate sector.

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Trends in the real estate in Chennai

• The Non Residential Indians or the NRIs have come across as the key investors in the houses for sale in Chennai. Some of these NRIs have roots in Chennai while there are others are those who made an investment in the city just for the sake of huge future returns. Apart from the residential properties the NRIs have also made an investment in the commercial ventures. The trend portrays that these NRIs generally make an investment in partnership with the private companies or some local residents.

• Another trend that has been noticed in the real estate in Chennai is the high demand for the property when compared to the possible supply. This led to the emergence of property developers in Chennai. These property developers had to come up with new project ideas both for the satisfaction of the commercial as well as the residential needs.

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• There was not much appreciation in prices noticed this year. This could also be because of the rise in the construction prices.

• The per square feet rate for the hot property locations in Chennai such as Thoraipakkam and Velachery ranges between Rs.5000 to 6500. The connectivity in Velachery is incredible. This is the reason why the rise in demand for a small rise in demand for houses for sale was noticed.

• Top regions such as Thalambur have some of the top class villas as well as spectacular row-houses. A lot of buyers show interest in this property. Since the villas are pricey not many from the working class are able to get hold of this.

Trends in the real estate in Chennai

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