Reasons for the Rise in Popularity of Properties to Rentin Chennai

Properties to rent in Chennaihave turned out to be the latestfad in the city and there aredistinct reasons for thistransformation. Chennai’s realestate scenario has beenburgeoning over and abovemost other metropolitan citiesof the country. Severalpremium builders anddevelopers have introducedprestigious milestone projects inthe city thereby acceleratingrealty demand and pushing theeconomy to an all time high.High demand has pushed theprices of these properties andalso expanded the city in orderto accommodate the inflow of population from other parts of the country. Commercialprojects in Chennai are also increasing simply because the city demonstrates greaterpotential to emerge supreme in the years to come.

While there are a huge number of flats for sale in Chennai along with other kinds ofresidential units; the city has observed an increasing demand for rental properties.Properties to rent in Chennai have become exclusive and there is greater demand forsuch properties today. Here are the reasons that substantiate this sudden spurt ofinterest in rental properties.

1. Migrating populationThe new age industries have created ample employment opportunities in the city.IT/ITES, manufacturing and automotive organizations have recently createdstrong presence in Chennai. They require a large manpower base that has

attracted interests of professionals from otherparts of the country and elsewhere. Thissegment of migrant population may or maynot make the city as their permanent base.But even in the short run; they requirecomfortable, secure and urban residentialhubs and this is where rental properties have

become a huge hit. Also, there are several investors that have demonstratedinterests in caching in on the commercial viability of the city. Thus commercialprojects in Chennai on lease and rentals are also thriving immensely.

2. Cost of homesChennai may be relatively affordable when compared to other metros but thecost of flats and apartments here is still a little inaccessible especially for those inthe middle income segment and amongst those who have made the city their

temporary abode. Properties to rent in Chennai aretherefore an easy resort to such communities ofcustomers. They enjoy the benefits and amenitiesoffered by these new high rises and modernapartments but do not have to pay a large sum tomake it their own at least considering their short termprerogatives.

As more and more premiums sale and rental residential properties and commercialprojects in Chennai spring up every other month; the city is all poised to witness largescale economic development.

ABOUT US

Akshaya was founded in 1995 under the stewardship of Mr. T. Chitty Babu, a leading light ofthe real estate industry in India. It has grown into one of the most awarded companies in thecountry acclaimed for its transparent business practices and innovation. The journey over thelast 19 years has seen the company excel in both the home and commercial domains bybuilding more than 150 magnificent edifices in South India.

CONTACT US

Akshaya Services Private LimitedCapitale,

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

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