In the recent years, there is a rise in the demand of the properties in Chennai with the coming up of several luxury residential projects and IT companies setting up operations here. Reports say that real estate Chennai market is expected to remain stable in the year 2013 and also property registration in Chennai seems to be clawing back after the financial slump. Even with the rise of demand and prices of properties in Chennai the retail real estate segment has remained upbeat. This positive impression has attracted major developers like Purva, Pacifica, Unitech and Sai Harini to develop residential units to meet the growing demand of housing. The developers are offering attractive offers and schemes to woo home buyers and boost the sales. Among the various schemes, offering easy finance and house insurance are some of the popular offers that developers have for home buyers.
What drive the demand of Chennai real estate? Unlike many cities, Chennai is not dependent on a specific industry. The city has a range of industries such as logistic, IT/ITES, manufacturing, automobile and more with specific to region. So, the demand and prices of each location varies with specific to the industry and infrastructure. Moreover, certain locations with good connectivity and infrastructure development have become the highly desirable property for owning a house. And the names of a few areas are Muggapair, Perambur and Old Mahaballipuram.
Finding potential Chennai properties as investment option is not a hard nut to crack. Just take the help of popular realty sites that offer information on all major cities. Property websites www.makaan.com provide home buyers or sellers with information so that they can take well informed decisions while buying or selling a property. With the help of realty portals it becomes lot easier to find properties meant for sale/rent/lease according to budget categories and location specific.
Compared to other locations in Chennai, the northern regions of the city have seen the maximum appreciation in residential prices. The prices of many properties in these areas have even increased manifold. The city has also witnessed the growth of price in terms of per sqft over the years.
The growth of Chennai real estate is impressive in comparison with other cities and it is expected to remain firm in the coming years. Moreover, with the setting up of more industries and creating employment opportunities investors are desperately willing to invest in real estate.
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