The stupendous development that Chennai properties
have made in last few years have resulted in marked improvement in
realty market of the city. The strong presence of IT sector, along with
the fast- pace infrastructural development are the reasons behind the
success of Chennai real estate, in terms of demand. In fact, the city is
a better performer in real estate, if compared to Delhi and Mumbai. The
recession has hit this city too, but not as hard as others. The
prospects in 2013 seem to be promising enough.
Several
infrastructural projects, a few of which are near to completion, have
been floated by the authorities. A number of National Highways and
Expressways have sprung up in the city, and this has played a major role
in increase in demand for properties as well as appreciation of capital
values. The recent nod given by the ministry to the three bridges
connecting OMR to ECR has also contributed tremendously to the
escalation of rates. The demand for flats for sales in Chennai too has been affected. And people are now seeking properties in the areas surrounding these bridges.
The
upcoming airport at Sriperumpudur shall connect the city to national
and international destinations. This Rs. 20,000 million project is
expected to perform well in gaining the attention of home buyers.
Several MRTS projects are in line, along with the Chennai Metro. Being
situated on the Golden Quadrilateral, Chennai is now accessible to other
important hubs of the country. Such a marked improvement in
transportation system is sure to garner good results for Chennai Properties.
The demand for both budget as well as luxury properties has seen an
escalation in the current quarter. This is a good sign for the real
estate in the city. As and when the recession is over, the market shall
see a further boom.
Buy, sell, or hire on rent Chennai properties over real estate website, Makaan.com. Search flats for sale in Chennai and other cities over the portal, available in different price brackets.
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