There are been a fast growth in the real estate in India, that has uplifted many part of the country such as Bengaluru, Cochin, Hyderabad, and Chennai. The value of the properties in these areas has touched a far unimaginable price. Out of all these cities, Chennai is the one not to be missed.
In Chennai, every real estate sector such as residential, retail, and commercial has a huge demand. In residential sector, both individual houses as well as apartments are preferred. And in commercial sector, SEZ’s are on the rise. And due to this factor, it is emerging fast in laying a strong real estate market, in the whole country and facing an upward trend.
The prices of Chennai Real estate varies depending on the factors like building construction type, location, amenities, accessibility, and so on.
Reasons for Phenomenal Growth:
With this uptrend scale, everyone might be left wondering why the Chennai property is worth. Listed below are some of the few reasons.
1.The city is properly connected to the other countries and satellite cities
2.The city has some of the credible educational institutions in its kitty
3.The city offers a world class healthcare and other medical services and facilities
4.The city has some high-tech communication channels equipped well, for e.g. High speed internet
5.Growth of SEZ’s, IT, and ITES
6.High level income from the IT and ITES division
7.Non residing Indians, who turn back to Chennai for an enhanced opportunities both personally and
8.The home loan options which are flexible
During the recession period, there was a small downfall in the Chennai’s real estate market. With the situation getting better, the demand has risen again. The expensive areas for getting residential apartments in Chennai are Mylapore, Adayar, RA Puram, Besant Nagar, Annamalaipuram, and Egmore. These are considerably closer to the city area. Apart from this, the other farther from city places such as Perungalathur, vanderloo, and Shozinganalur are also growing rapidly. GST road and OMR road is coming with a lot of residential projects with lots amenities.
In Parallel the commercial real estate market is showing an equal growth. A lot of new projects are under construction, due to the space demand created by the IT companies. The evergreen place preferences for the commercial properties in Chennai are Cathedral Road, Lloyds Road, Nungambakkam, and Anna Salai. If you are a factory or a heavy duty factory owner then you will be ideally looking for places in Ambattur and Guindy. The IT sector has its offices mostly in Old Mahabalipuram, Tharamani, and Tambaram.
Chennai real estate marketers are looking out for every avenue to attract the companies. They segregate the companies in different levels and offer intricate designs and other amenity which is suits the specific sector.Those differences are:
.Grade A – Specifically for Multinational ITES and IT firms.
.Grade B and C – Specifically for domestic and local companies.
People, who invest in Chennai real estate market, can expect a great amount of return, as it has grown in 200 %.