The city of Chennai managed to give up-to-the-mark performance last year and if the trade pundits are to be believed, the city is expected to fair well this year too. Presence of excellent infrastructure, upcoming metro project, and stronghold over software sector have been the boosting factors for city's property market. Chennai Metro which is suppose to be developed in two phases has placed a positive impact over property rates that have already witnessed a rise of about 10% in the nearby localities.
The upward trend for Chennai properties has been observed in and around areas like GST Road, Porur, and Sriperumbudur. Across these, the total number of inquiries went all the way up. Conversation rates in these localities also witnessed a significant improvement. On the other hand, places like Oragadam and Old Madras Road(OMR) have not seen any major change in number of transactions. The realty market of the city is largely end-user driven, still, there was a good increase in the number of short-term investments in 2013.
In Central Chennai demand for residential spaces outstripped supply. In Central Chennai particularly, the demand market has performed well. Still, there are localities like GST, Oragadam, and OMR where the number of unused inventories is quiet high on account of lack of demand. The overall transactions for flats for sale in Chennai improved last year.
In South Chennai, traction has been observed in some parts like Thoraipakkam, Perungudi, and Perumbakkam. Over Perumbakkam, a number of mid and high-end realty projects have been launched. Velachery, an area with a strategic location and super-connectivity, has seen price appreciation in last several months. With the construction of several integrated projects , Semnnachery has performed quiet well. Siruseri too has seen a plethora of mid and small segment housing projects going on; the presence of Asia's largest IT Park has awarded it with the commercial and corporate importance. East Coast Road(ECR) is dotted with a number of luxury projects and is witness to a high demand for high-end bungalows.
Makaan.com, is one among the top real estate site which lists all type residential properties in Chennai across variable price range.
The upward trend for Chennai properties has been observed in and around areas like GST Road, Porur, and Sriperumbudur. Across these, the total number of inquiries went all the way up. Conversation rates in these localities also witnessed a significant improvement. On the other hand, places like Oragadam and Old Madras Road(OMR) have not seen any major change in number of transactions. The realty market of the city is largely end-user driven, still, there was a good increase in the number of short-term investments in 2013.
In Central Chennai demand for residential spaces outstripped supply. In Central Chennai particularly, the demand market has performed well. Still, there are localities like GST, Oragadam, and OMR where the number of unused inventories is quiet high on account of lack of demand. The overall transactions for flats for sale in Chennai improved last year.
In South Chennai, traction has been observed in some parts like Thoraipakkam, Perungudi, and Perumbakkam. Over Perumbakkam, a number of mid and high-end realty projects have been launched. Velachery, an area with a strategic location and super-connectivity, has seen price appreciation in last several months. With the construction of several integrated projects , Semnnachery has performed quiet well. Siruseri too has seen a plethora of mid and small segment housing projects going on; the presence of Asia's largest IT Park has awarded it with the commercial and corporate importance. East Coast Road(ECR) is dotted with a number of luxury projects and is witness to a high demand for high-end bungalows.
Makaan.com, is one among the top real estate site which lists all type residential properties in Chennai across variable price range.
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