Real Estate Market in Chennai, Today and Tomorrow
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Real Estate Market in Chennai, Today and Tomorrow

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Real estate in Chennai, a couple of decades ago, was as conservative as the mind-set of the city. Residents preferred the Central Business District for abundance of amenities for the entire family. ...

Real estate in Chennai, a couple of decades ago, was as conservative as the mind-set of the city. Residents preferred the Central Business District for abundance of amenities for the entire family. Home buyers have always been driven by location preferences in Chennai.

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Real Estate Market in Chennai, Today and Tomorrow Real Estate Market in Chennai, Today and Tomorrow Document Transcript

  • Real Estate Market in Chennai Today and Tomorrow Real estate in Chennai, a couple of decades ago, was as conservative as the mind-set of the city. Residents preferred the Central Business District for abundance of amenities for the entire family. Home buyers have always been driven by location preferences in Chennai. Therefore, there were a lot of limits that were imposed in the real estate market as recent as even one decade ago. When most other metropolitan cities focused on the creation of large integrated townships and luxury apartments in the outskirts of the city; Chennai residents were more than happy to stay at smaller homes that the CBD could afford. However, this scenario is now changing. Real Estate Chennai today is a far cry from what it used to be a decade ago. The development in Chennai real estate is in form of the building and construction of land based properties that are increasingly being used for various commercial and residential purposes. Chennai is the largest city in Tamilnadu and also the seat of the state government. Being an important center for the industrial and commercial operations, the city of Chennai is one of the most preferred destinations for investment in real estate.
  • Chennai has experienced tremendous expansion in the industrial sector. It is also known as the automobile capital of India as nearly 40% of the automobile sector is based out of Chennai. The requirement of land-based property and its management is very crucial. Chennai is an important Indian metro is an important meeting point of cultural heritage and history. Increasingly, however, people are flocking to Chennai for better living standards and employment opportunities offered by the city, especially since Infosys set up its facility here. The city is doing well in the real estate sector also because it is an important educational center in South India. Opportunities under the Real Estate Chennai     Residential complexes for people employed in Chennai Commercial complexes for the large and medium size companies Industrial complexes for manufacturing units Investments in the real estate in Chennai are highly profitable as they give good returns  The Foreign Direct Investments in the real estate in Chennai is very lucrative
  • Every Thing is about Location It is a frequent motto used to emphasize the importance that a location has on the value of a real estate property. The heart of the message is clear -- if you pick the right spot to invest your property in, you can be rewarded with a handsome return on investment. The Indian economy is in an interesting stage right now. On one end of the spectrum, signs are pointing towards an economic surge. The Sensex hit an all-time high a week ago, the RBI seems to be making all the right moves to curb inflation and bring stability to the rupee and analysts can be frequently heard commentating that finally it's a "trading market". This means the economy is picking up, the share market is ripe for investments and therefore investors and traders can take advantage of the opportunities being presented to earn profits. However, a quick way to see whether a country's economy is improving is to simply look at its real estate prices. If real estate sales fall, then real estate prices eventually fall in tandem. This then reduces the value of all homeowners, whether they are looking to actively sell or not. The result is that there is a reduction in home loans granted to those same homeowners. Finally, this reduces consumer spending which results in reduced GDP. So all in all, real estate prices or sales are a great indicator of a country's economy.
  • New Trends in Chennai Real Estate In the coming months, real estate in Chennai is expected to witness dramatic changes. There are a string of township projects that are in the making and due for completion sooner. These projects are largely based out of OMR, ECR, Sriperumbudur, GST Road and the likes. And they are expected to bring about rapid transformation in the city’s landscape.  Plot coverage in these townships is minimal and there is massive green cover. This means that such projects are not only Eco-friendly but enable its residents to lead a pollution free, safe, healthy and green living.  Community living was a term that was unheard of in the city until 2006. Today, the concept has been making breakthrough with several premium real estate developers creating townships in the city. Community living has a lot of advantages to offer. Man’s need of social engagement is enabled greatly by society. Townships offer greater safety with security and proximity of other homes when compared to independent homes anywhere in the city or elsewhere. Townships usually are green projects and hence there is better lung space. Such townships are thus set to create an indelible imprint on the real estate market of Chennai.  Residential communities are usually complete with all contemporary amenities like swimming pool, sports courts, fitness center, joggers’ trail and the more elaborate ones like retail centers, hospitals, schools and recreation hubs thereby making them self-reliant in every sense of the word.
  • Real estate in Chennai has today set the pace with game changers of myriad kinds. Now, as the townships complete and community living commences in the city, real estate experts forecast a decisive momentum of a large spectrum in the city. Time to buy your home in Chennai is now When is the best time to buy property in a city? Most of us would say when prices are down. However, the Chennai real estate market has something to add on here. Even though the prices are not falling, it seems to be a good idea to invest in Chennai due to several factors. With an uncertain political and economic situation across the country, real estate markets in different cities have been grappling to come to terms with the cautious buyer sentiment that has been plaguing the industry for quite some time now. Both end users and investors have maintained a low profile in the last six months. However, in Chennai, the situation is a little different. Even though the real estate market in the city has been slow in the last six months, compared to other cities such as Delhi NCR, Mumbai and Bangalore, the actual transactions have not declined. End user demand is still robust. There is practically no unsold inventory within a radius of five to six kilometres from the city centre. Thus, if you do not mind buying a house a little farther away from the city centre, investing in a property today might be good for future.
  • ABOUT US Akshaya was founded in 1995 under the stewardship of Mr. T. Chitty Babu, a leading light of the real estate industry in India. It has grown into one of the most awarded companies in the country acclaimed for its transparent business practices and innovation. The journey over the last 19 years has seen the company excel in both the home and commercial domains by building more than 150 magnificent edifices in South India. CONTACT US Akshaya Services Private Limited Capitale, No. 22, 2nd Street, Nehru Nagar, Adyar, Chennai - 600 020. Tel: 044 - 2445 1818 Website: www.akshaya.com