Real estate Chennai is seeing a paradigm shift in demand. People who are looking to invest in a property in Chennai are looking to invest in plotted land rather than flats or apartments. Builders of properties in Chennai too are keener to launch plotted layouts over flats and apartments. Well-known builders such as Hiranandani, TVH, Olympia and Akshaya have already launched plotted layouts. Builders launching plotted layouts get to avoid long-gestation period which is involved in developing a high rise. The plotted layout can be developed and marketed in a few months also the sales movement of the same is fast in the city as traditionally people prefer to buy land over apartments in the region.
Real estate sites point out that the real estate Chennai is facing a slump and there is a huge unsold inventory. According o some estimates more than 50,000 properties in Chennai lying unsold. This is leading to losses to builders of property in Chennai who are now cash crunched as they have already invested huge capital in developing high rise apartments.
If one looks at the past trends then one will notice that originally people preferred to invest in plots and land in real estate Chennai. For people in South India buying a property in Chennai and buying gold is considered the best financial decision. Apartments and high rise became a choice of youth much later when people started migrating to Chennai and lifestyle considerations changed. If one check real estate sites then one will notice that a lot of builders are now again launching plotted layouts. Long term investors of properties in Chennai too look to invest in land as they offer more price appreciation in the long run. Price trends on real estate sites also show that land give much higher ROI over five-six year period horizon.
Real estate sites point out that the real estate Chennai is facing a slump and there is a huge unsold inventory. According o some estimates more than 50,000 properties in Chennai lying unsold. This is leading to losses to builders of property in Chennai who are now cash crunched as they have already invested huge capital in developing high rise apartments.
If one looks at the past trends then one will notice that originally people preferred to invest in plots and land in real estate Chennai. For people in South India buying a property in Chennai and buying gold is considered the best financial decision. Apartments and high rise became a choice of youth much later when people started migrating to Chennai and lifestyle considerations changed. If one check real estate sites then one will notice that a lot of builders are now again launching plotted layouts. Long term investors of properties in Chennai too look to invest in land as they offer more price appreciation in the long run. Price trends on real estate sites also show that land give much higher ROI over five-six year period horizon.
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