Real estate in Chennai is showing a remarkable change within these recent years.

1. Core Aspects that drives the Chennai Real Estate
When compared to other major metropolitan cities in India, Chennai's real estate market
have been steady over the past few years. Following are some of the core aspects that
drives the Chennai Real Estate Market;
As the city has been a major hub for automobile giants, IT bigwigs and multi-national
companies across the globe, the city offers a wide range of job opportunities. As a result,
the number of migrants to the city have increased over the past few years for career
opportunities. Thus, the demand have increased for buying or renting a residential
property that have close proximity to IT and industrial hubs.
Another factor that plays a major role in booming Chennai Real Estate market is the
frequent infrastructural developments in the city. In recent times, the development of
Metro Rail Projects has certainly pushed Chennai's realty market further. The areas that
are located along the metro rail stretch are witnessing a spike in the property prices owing
to the residential demand, says the real estate sources.
Apart from Metro Rail Project, the development of Chennai Outer Ring Road by CMDA
have increased the demand for residential properties that are located along it's the stretch.
As these areas have close proximity to Chennai's major industrial corridors, the
requirement of a home is high among the working professionals. Owing to this demand,
the residential developers have been engaged in constructing a wide range of residential
projects along the stretch of Chennai Outer Ring Road.
In the recent years, the residential demand have increased in the outskirts of the Chennai
city. As the price range of residential properties suits the requirements of the
mid-income groups, the demand for buying a property in Chennai's outskirts have raised
up in the last few years. Besides, the developments in terms of commercial and
infrastructure have grasped the attention of the home buyers and property investors.
Further, the proposed developments in the outskirts will make the property investors to
witness their properties are getting multi-fold appreciation in the future.
So, these are some of the core aspects that drives the Chennai Real Estate market
Real Estate Chennai – Future
With the proposed commercial and infrastructural developments, the residential demand
will increase further in the metropolis in the following years. Moreover, the IT and
automobile industries across the globe have planned to further their development units in
Chennai. Therefore, both commercial and residential market are expected to flourish at
the time to come.