Real Estate Market in Chennai Today and Tomorrow

Real estate in Chennai, a couple of decades ago, was as conservative as themind-set of the city. Residents preferred the Central Business District forabundance of amenities for the entire family. Home buyers have always beendriven by location preferences in Chennai. Therefore, there were a lot of limitsthat 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 integratedtownships and luxury apartments in the outskirts of the city; Chennai residentswere 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. Thedevelopment in Chennai real estate is in form of the building and construction ofland based properties that are increasingly being used for various commercialand 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 cityof Chennai is one of the most preferred destinations for investment in real estate.

Chennai has experienced tremendousexpansion in the industrial sector. It isalso known as the automobile capitalof India as nearly 40% of theautomobile sector is based out ofChennai. The requirement ofland-based property and itsmanagement is very crucial. Chennaiis an important Indian metro is animportant meeting point of culturalheritage and history. Increasingly,however, people are flocking toChennai for better living standardsand employment opportunities

offered by the city, especially sinceInfosys set up its facility here. The cityis doing well in the real estate sectoralso because it is an importanteducational center in SouthIndia.

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 givegood 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 thevalue of a real estate property. The heart of the message is clear -- if you pick theright spot to invest your property in, you can be rewarded with a handsomereturn on investment.

The Indian economy is in an interestingstage right now. On one end of thespectrum, signs are pointing towards aneconomic surge. The Sensex hit an all-timehigh a week ago, the RBI seems to bemaking all the right moves to curb inflationand bring stability to the rupee andanalysts can be frequently heardcommentating that finally it's a "tradingmarket". This means the economy is

picking up, the share market is ripe for investments and therefore investors andtraders 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 tosimply look at its real estate prices. If real estate sales fall, then real estate priceseventually 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 areduction in home loans granted to those same homeowners. Finally, this reducesconsumer 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 dramaticchanges. There are a string of township projects that are in the making and duefor completion sooner. These projects are largely based out of OMR, ECR,Sriperumbudur, GST Road and the likes. And they are expected to bring aboutrapid 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 itsresidents 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 realestate developers creating townships in the city. Community living has a lotof advantages to offer. Man’s need of social engagement is enabled greatly bysociety. Townships offer greater safety with security and proximity of otherhomes when compared to independent homes anywhere in the city orelsewhere. Townships usually are green projects and hence there is betterlung space. Such townships are thus set to create an indelible imprint on thereal estate market of Chennai.

Residential communities are usually complete with all contemporaryamenities like swimming pool, sports courts, fitness center, joggers’ trail andthe more elaborate ones like retail centers, hospitals, schools and recreationhubs thereby making them self-reliant in every sense of the word.

Real estate in Chennai has today set the pace with game changers of myriadkinds. Now, as the townships complete and community living commences in thecity, real estate experts forecast a decisive momentum of a large spectrum in thecity.

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 whenprices are down. However, the Chennai real estate market has something to addon here. Even though the prices are not falling, it seems to be a good idea toinvest in Chennai due to several factors.

With an uncertain political and economic situation across the country, real estatemarkets in different cities have been grappling to come to terms with thecautious buyer sentiment that has been plaguing the industry for quite some timenow. Both end users and investors have maintained a low profile in the last sixmonths.

However, in Chennai, the situation is a little different. Even though the realestate market in the city has been slow in the last six months, compared to othercities such as Delhi NCR, Mumbai and Bangalore, the actual transactions havenot declined. End user demand is still robust. There is practically no unsoldinventory 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 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 inSouth India.

CONTACT US

Akshaya Services Private LimitedCapitale,

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

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