Builders Of Residential Property In Chennai Facing Losses After Floods

Post Chennai flood there is absolutely no activity in the real estate sector. Forget about sale and purchase nobody is even doing a property search. It looks like residential property in Chennai like property in Tambaram is facing a new low. Properties in Chennai for sale are witnessing a drastic downtrend where there are many sellers in the market but no buyers at all. Investors are also regretting investing in the market. Infact many people who were interested to buy a property in Tambaram have now dropped the decision. During the recent flood the area was completely submerged into water.

Many people are now also asking for refund for residential property in Chennai from developers. People especially those who had invested in under-construction projects are now asking for refund. Builders of properties in Chennai for sale are now in a fix.  The developers have already suffered huge losses and with the flood the demand of properties in Chennai for sale is also very low. Also many people who are coming for property search are asking the builder to show the proof of how well protected their project is incase a flood like situation arises. In short the builders of residential property in Chennai are facing a double whammy situation.  Apart from this builders also are facing the huge wastage loss of hundreds of tonnes of building raw materials like cement and sand also the labour costs have also gone high posts floods.

Most of the Indian properties had shown the same trend after a disaster like situation as the properties in Chennai for sale are displaying. Builders are hoping that in a few months time the situation should resume to normal so that like other Indian properties the demand of residential property in Chennai like property in Tambaram starts rising again.

Increased Investor Activity In India Properties Chennai

Real Estate Chennai at Makaan.com

Real estates in Chennai is an extremely stable market as the realty segment does not witness much investor activity it is less volatile as compared to other cities. Over the years we have seen that residential property in Chennai has performed according to infrastructure development taking place in the vicinity. Rarely has India properties Chennai seen a dramatic rise or fall in the realty prices. Mostly real estates in Chennai have given a single digit rate of appreciation per year however it could be higher or lower for certain India properties Chennai. With the development of growth corridors it seems that investors are now taking notice of real estates in Chennai. Residential property in Chennai like Flats in Tambaram and apartments in OMR are witnessing a good demand due to development of business corridors at various locations. 

Investors entering the real estates in Chennai market has led to an escalation in property prices. In response buyers have also changed their buying preferences of India properties Chennai. Many people are looking to buy smaller residential property in Chennai like Flats in Tambaram and apartments in OMR. One has to understand that the prices of India properties Chennai has increased but budgets have not. People are looking to buy residential property in Chennai in their desired budgets. Most people in Chennai do not prefer to take EMIs even though the interest rates have come down substantially in the past few months. Earlier there was hardly any demand for 1 BHK residential property in Chennai but the scene has changed in the last few years and many people as well as developer have shifted their focus towards smaller apartments in Chennai real estate. India properties Chennai will see a high demand in the coming months due to increased end-user engagement and high investor activity.