Has Industrial Slowdown deterred Chennai’s Real estatemarket?

Although the country is witnessing an economic slowdown that has direct impact on itsreal estate market, Chennai continues to showcase an upswing in realty. Flats for salein Chennai are constructed in different parts of the city owing to high demand despitethe slow economic progress. One important reason for realty investment during thisperiod is because during economic slowdown, other instruments of investment faceslow progress but people invest in real estate because they are expected to offer assuredguarantee since they are long term in nature. Several studies show that over 75 percentinvestors are end users. 2 and 3BHK apartments continue to face great demand overother residential options. Properties to rent in Chennai continue to do well sinceemployment rates are still high in the city.

Industrial slowdown and Chennai Real estate Market

Although there has been a definite industrial slowdown in the country, it continues tobe good news for flats for sale in Chennai and the real estate market in the city.

Several companies and industries are selling their land pockets because of a slumpin the industrial market. This indicates the availability of land parcels in the cityfor the construction of residential units.

Lands are available not only in the suburbs as was the case a few years ago but alsoin the Central Business District and other important regions within the city sincelocation continues to be a growing preference with a large percentage of real estateinvestors.

Chennai is today characterized by several kinds of realty projects. Properties to rentin Chennai are emerging successful since more and more migrants to the city seekup-market rental properties in the city.

A lot of high-flying investments are happening in the city. Many industrial landshave made way for the construction of modern flats for sale in Chennai.

Several builders are buying lands in different parts of the city and this indicates thegrowth prospects of residential and commercial real estate in Chennai.Construction ought to be propelled by high demand. Hence end users dictate theterms in the real estate market, property prices and choice of locations.

Chennai will continue to observe great prospects in residential real estate. Properties torent in Chennai will grow as much as properties for sale.

ABOUT US

Akshaya was founded in 1995 under the stewardship of Mr. T. Chitty Babu, a leadinglight of the real estate industry in India. It has grown into one of the most awardedcompanies in the country acclaimed for its transparent business practices andinnovation. The journey over the last 19 years has seen the company excel in both thehome and commercial domains by building more than 150 magnificent edifices in SouthIndia.

CONTACT US

Akshaya Services Private LimitedCapitale,

No. 22, 2nd Street, Nehru Nagar,Adyar, Chennai - 600 020.

Tel: 044 - 2445 1818Website: www.akshaya.com