Real Estate In Chennai Geared Towards Transparency

Real estate in Chennai is an end-user driven market and so many people are asking the question what affect will the demonetization will have on the sector? Most of the transactions that take place in the real estate Chennai happen in the resale market. It is a well-established fact that in resale market the cash component is much more as compared to the primary market. If people will buy Kandigai flats for sale directly through the builders, most of the payment will has to be made through legal routes. However, if Kandigai flats for sale are brought in resale market more than 50% payment was done in cash.  Although the selling price of Kandigai flats for sale is the same in primary and secondary market but the registered value on papers and legal documents is much lesser in case of resale market as people want to save on the tax component, which can sometime be around 20% of the selling price of the property.

It is expected that after the demonetization drive most of the people will mention the actual buying price on legal papers. Sellers in resale market will also prefer to take 100% payment through legal routes. Real estate in Chennai will see greater transparency. The state authorities will be able to increase their tax revenues through real estate Chennai, as people will not register their property at undervalued price. The price gap of in primary and secondary market is likely to be bridged. It is high time that such loopholes are plugged so that there is greater accountability in the real estate Chennai.

In the long run the demand or supply in real estate in Chennai will not be much affected by the demonetization move but deals will definitely be more transparent which will lead to market stability.

Plots Become Preferred Choice Of Investment In Real Estate Chennai

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. 

Chennai Residents Influence Planning For Smart City Project

Chennai has been making headlines in almost all India real estate reports and studies, mostly due to the proposed smart city project slated to be commenced here by the Central Government. As part of the Central Government's plan to develop 100 smart cities, Chennai will be one of the forerunners in this regard. In what is being heralded as a landmark development, citizens in Chennai are now directly influencing planning of infrastructural and civic projects for this smart city project. The smart city project will anyway boost the demand for property Chennai in the next few years. The real estate Chennai market has benefited immensely from the Central Government's announcement. Demand for properties in India will be influenced largely by the creation of these smart cities in the future according to experts and Chennai’s future looks really bright in this context. The Chennai Corporation has asked for suggestions from citizens through its website that has been launched by the Union government for making sure that citizens participate in the project. Suggestions and inputs are pouring in by the day and should touch a gargantuan number soon. According to corporation officials, the authorities are targeting a place in the top 20 among the 100 smart cities. These public suggestions will facilitate the implementation of Smart City solutions in the first phase of the project. According to sources, areas like RK Nagar and commercial hub T Nagar will be hotbeds for much of these new infrastructural projects.

This should definitely be a boost for the Chennai real estate market, as demand will definitely spiral in locations like these. The corporation is already mulling several projects in T Nagar including multilevel car parking facilities and the integration of the Usman Road flyovers for creating a grade separator linking Mahalingapuram and Anna Salai. With increased importance being given to citizen suggestions and collaboration with leading planners and Central Government agencies, this project will go a long way towards improving overall transport facilities and infrastructures in Chennai according to market experts. Water bodies are also set to be restored if suggestions are keenly implemented. Residents can also expect health and hygiene improvements in the near future.

Velachery Is One Of Chennai's Best Places To Live In

The real estate Chennai market has been witnessing steady growth in recent times and there are several localities which have witnessed huge development over the years. Demand for Chennai real estate has also been concentrated in several specific localities and pockets. As per real estate in India reports and studies, Velachery is one of Chennai’s most coveted residential destinations. Velachery is a premium South Chennai locality and has rapidly grown in tandem with the flourishing IT sector in the South Chennai belt. The locality is a hub which links the fast growing IT corridor or OMR, Central Business Districts and GST Road to each other. Velachery is a major commercial and residential hub and there are several connectivity advantages that it offers to residents. The demand for real estate in Chennai has been driven by the Velachery market. Guindy is well connected to the locality and the Velachery main road is the major connectivity avenue here. Mount Road is also accessible from the locality while the 100 ft bypass road is also a connectivity lifeline here along with the Taramani link Road on the north eastern flank which runs up to the Rajiv Gandhi Salai in OMR. The Jawaharlal Nehru Salai or the 100 ft road also enables great connectivity to the GST Road and airport. The Taramani Link Road connects the locality to MGR Salai. There are several retail hubs and premium shopping centres located in close proximity to the area as well.

According to property India studies, Velachery is well connected to Adambakkam, IIT Madras, Pallikaranai Marshland and several other areas like Madipakkam, Guindy, Thiruvanmiyur, Adyar, Perungudi and Tharamani. The locality is predominantly residential while the Chennai International Airport lies around 8-10.5 kilometres away from it near Meenambakkam. The airport can be accessed comfortably from the area as mentioned earlier and the Inner Ring Road also helps majorly in this regard while the GST-Anna Salai route is the more conventional one and runs through Guindy. Volvo bus connectivity is also available in the neighborhood. Velachery is the perfect mix of connectivity, infrastructural development, entertainment and recreation and commercial progress.

Buy Chennai properties at discounted prices

Chennai properties for the past few years are attracting both domestic and foreign investors as a lucrative real estate investment destination. With the investors eyeing to invest in property at Chennai, the prices of properties are expected to shoot up. So, to spot a property within a locality of your choice the best way is to browse property websites. The real estate specific websites are advantageous to collect information related to property, location and budget through the click of mouse.

Having a commercial or residential property at Chennai might be a distant dream. But with the property listings on websites, you have options to scour classified properties at discounted rates and compare prices that best fit your pocket. Options are also available to filter properties with specific to builders or developers.

Among the various leading real estate websites, Makaan.com is one of the highly recommended websites that acts as a catalyst for buyers and sellers. It helps individuals to find properties at Chennai and other major cities of India that are ready for possession or under-construction. The site is a convenient property search engine to facilitate buyers and sellers in decision making. With the help of Makaan.com, you can search hot Chennai properties such as apartment, independent villa/house, plot/land, farm house, studio apartment and commercial properties that are meant for sale/rent/lease. Individuals who are keen to sell their property can also take advantage of the services by uploading details and images, and get more responses from property seekers compared to the basic listings.

India property Chennai real estate websites are indeed helpful as it provides helpful details about properties, builders, real estate agents and developers with specific to location. The best way is to post your requirement on websites by following simple steps and you will receive calls from property sellers from the desired location or vicinity. Makaan.com provides this unique service by forwarding your property requirements to property sellers who in turn will contact you.

Many websites even manage to remain ahead of their competitors with innovative services such as arranging of home loans, house insurance and luxury furniture at highly competitive prices for their customers. With such services made available the demand for typical real estate brokers have significantly declined.

Taking the advantage of real estate websites you can easily find a glut of new residential property in Chennai within minutes that are selling at discounted prices. So, with real estate sites you do not have to bother much about finding a luxury property to buy or sell.