Reasons attributing to phased Real estate Growth in Chennai

Real estate in Chennai is a prolific market. Chennai real estate has observed landmark transformations before assuming the status it enjoys today. The city has been the choice of industrial destination by companies across the world and is poised to receive further attention in the years to come. This kind of industrial growth is identified as one of the primary reasons for development of real estate and infrastructure in the city. As with many other cities and metros in the country, Chennai also witnesses real estate growth that is dependent on geographical focus. While some areas in the city has made tremendous development both in terms of quantum and quality of real estate growth as well as steep increase in prices, some others are slowly playing catch up.

There are a number of reasons that can be attributed to such differential development rates with respect to Real estate in Chennai.

1. A number of infrastructural projects are focused on different parts of Chennai instead of focusing on uniform growth. The most prestigious of them all is the Metro project that plies through specific regions. Regions that lie in and around the areas of massive infrastructural development also receive maximum real estate investor attention. With increase in residential and commercial real estate demand in these areas, builders in Chennai also increase supply in these high-in-demand areas.                                                                                                                                                            
2. A number of industrial projects including the ones on the IT/ITES corridor, Sriperumbudur industrial belt and even the Central Business District area have a lot of takers in the residential real estate market as well. People prefer to be based out of areas that are closer to their workplaces and hence industrial growth prone regions are also hubs of residential development.                                                                                                                                                                             
3. Demand patterns have known to be phased in Chennai. Real estate investors prefer certain regions in the city due to a wide variety of reasons. And as a significant number of people begin to invest in a specific region; the trend catches on and larger groups of people are attracted by the area’s sudden appeal. And as demand for real estate increases in that specific region, prices also increase. Thus it becomes a desired circle for real estate builders as well.

Chennai Metro Trial Run: NDTV 

Real estate in Chennai may have suddenly and rapidly burgeoned due to various factors that have made the city a preferred hub for industries, builders and investors alike but the trend is likely to stay on and offer bigger returns to those who act quickly. 

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builders in Chennai 

Connectivity facilitates Decision making of Real Estate Properties in Medavakkam and OMR, Chennai

Many builders in Medavakkam and OMR, in Chennai, have proactively judged the real estate demand these regions are expected to generate and constructed milestone real estate projects. Many other builders have reacted to the scenario and continued the saga of construction so as to facilitate the increasing demand for commercial and residential projects. A few decades ago, OMR and Medavakkam had vast stretches of land with little development in terms of real estate. Today, the landscape has completely transformed to accommodate large and modern apartments, villas, farmhouses and commercial properties.

There are many properties built in Medavakkam and OMR are tastefully designed and meticulously constructed using the best of resources and exceptionally qualified and trained staff. These apartments and homes stand the test of time since they are durable, well maintained and constructed using quality resources. They are also Eco-friendly homes with large breathing spaces in the right location thereby offering capital appreciation in the long run. Perumbakkam near Medavakkam is another region that is quickly garnering a lot of attention and is poised to observe real estate boom.

Proximity to important Neighborhoods 

Medavakkam is located near Sholinganallur, Selaiyur, Madipakkam, Keelkattalai, Tambaram and Velachery. This rapidly developing region is also situated near the city’s IT/ITES corridor and SEZ. OMR is no stranger to this concept as well. Of the two, OMR was the first to develop in terms of real estate development. And today, the prices here are almost close to the rates seen in the Central Business District. Medavakkam may not be as exorbitantly priced as the properties in OMR or ECR. They are a lot more affordable now but are expected to increase in prices in a few years from now. Owing to the proximity to important neighborhoods, both OMR and Medavakkam have no dearth of best-in-class hospitals, international schools, important colleges, entertainment hubs and places of worship.

Builders in OMR and Medavakkam, Chennai have constructed high quality homes closer to significant destinations. The main modes of commuting include bus, vans and autos. MTC(Metropolitan Transport Corporation) bus service is commendable at Medavakkam.  Buses plying between Velachery and Tambaram pass through Medavakkam junction. Residential projects are usually built to analyze the current and future needs of customers to design homes that possess a long term perspective.

Interview with a Real Estate pundit on OMR & Medavakkam

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Builders in Chennai

Things to consider while Investing in Residential Properties of Chennai

There are a lot of things to consider when you plan to invest on homes or apartments in Chennai.  Chennai is witnessing mammoth realty developments, visible by the numerous apartments for sale in Chennai and now is a good time to invest in Real estate if you haven’t done this far. Here are certain things you must consider before investing in a property of your choice.

Location: Location plays a huge role when it comes to investing on Real estate in Chennai. The region must do well and hold immense scope for giving you good return on your investment. Proximity to important amenities and good neighborhoods will not just make living there simpler but also fetch exponential capital appreciation in the long run.

Amenities: Many flats for sale in Chennai have modern amenities in them including play area, fitness clubs, swimming pool, tennis courts and power backup. Some more properties are a lot more elaborate and include medical facilities, shopping centers and even schools to make them a self-sufficient integrated township. 

Price: Price is perhaps one of the primary factors that contribute to property choice. Budgets are different and hence it becomes relatively easier to narrow down elements such as location depending upon your allocated budget.

Reputation of Builder: Some Builders in Chennai carry the reputation of creating quality homes and it is best to choose properties from such builders. Experience, expertise, portfolio and good understanding of the domestic market qualify as criteria when it comes to choosing the right builder. 

Property Guide

source: ET Now

- SUMANGALI HOMES

Builders in Chennai

Perumbakkam attracts Investors with Location advantage

Flats for sale in Perumbakkam are growing in numbers for reasons and location is perhaps the number one in the list. Here is why Perumbakkam enjoys a favorable location. 

• Perumbakkam is not too far away from the omnipotent OMR (2 kms) that is home to the IT/ITES corridor of the city.

• Perumbakkam is bound by popular neighborhoods and other important areas of Chennai namely Sholinganallur, Medavakkam and Sithalapakkam. 

• Perumbakkam is also connected to Tambaram and hence in early March this year, the region recorded an amazing 21 percent increase in property value. 

• The much awaited project of ELCOT SEZ is expected to at least double the realty prices of Perumbakkam in the next five years. 

Apartments for sale in Perumbakkam thus experience star status owing to the location and amenities they bring along. 

Flats in Perumbakkam have begun to take over the up-market trend like other thriving locations of Chennai. And an increasing number of premium builders are also creating landmark properties combining the best of architectural standards, aesthetic appeal and functional excellence in the homes and commercial buildings here. Perumbakkam and the adjoining Vengaivasal are further expanding the city’s geography to accommodate the realty demands of the city’s population. As realty prices in the city skyrocket and spaces plunge, the population of Chennai is persuaded to seek suburban markets where both elements are not a concern as yet. And in order to cater to the growing demand of the residents in such localities, the area becomes equipped for overall development.

Highlights of Perumbakkam 

source: 99acres.com

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Builders in OMR

Soaring Popularity of Apartments at Medavakkam

Apartments in Medavakkam are making quick progress. Every arterial road of Chennai has been contributing to the real estate development the city has been making in the last decade or two. As OMR and ECR occupy their share of progress in the city’s realty; Medavakkam is not too far behind. A report published by realty consultant Knight Frank has shown

"Medavakkam that is a part of South India will do better than most other residential hubs of Chennai in the next five years"

Medavakkam belongs to the 13 most happening places in India, a coveted list that also names the significant areas of Mumbai.

8 out of 13 search Images represent the Residential properties in Medavakkam for the keyword

"Medavakkam Chennai"

          
So, why is Medavakkam emerging as a significant Real Estate destination?

• Medavakkam is an emerging location and hence relatively nominally priced when compared to most other regions of Chennai. 

• Existing infrastructure in Medavakkam like roads is strong but the city here is gearing up for the future projects as well. Further, the region is close to other vital areas like OMR, Velachery, Tambaram and Pallavaram. 

• Proximity to hubs of importance such as IT parks, hospitals, schools, recreation centers and commercial establishments.

Investors who have invested or about to invest in Residential properties of Medavakkam have taken a wise decision of doing so. While the city’s Central Business District is inevitably and indispensably the highest in terms of offering return on investment, Medavakkam investors can observe exponential capital appreciation in the long run since the quantum of progress the region is making is tremendous. As infrastructure develops and commercialization gets in at full swing, residential realty is proving its mettle as well.

An Excited woman on Buying an Apartment in Medavakkam

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Builders in Medavakkam

Kinds of Residential properties in Chennai - Flats, Villas and Farm Houses

Real Estate in all arterial roads of Chennai is developing at a rapid pace. South of Chennai started the Real Estate revolution in the city. OMR and ECR have today assumed the status that the Central Business District of Chennai is enjoying. Gradually, as prices and demand accelerated, both builders and investors started moving in other directions thereby improving the city’s economy. Today, you can observe the colossal development occurring in regions like Sriperumbudur, GST Road, Medavakkam, Perumbakkam and other suburban markets. 

Chennai has a great variety of options to offer in terms of residential property.

   Apartments: Apartments come in various sizes, locations and styles. There is no dearth of flats for sale in Chennai and range from the compact studios to the more elaborate duplex apartments.

    Villas: Villas represent affluence, luxury of space, quality and comfort for the elite. The arterial roads of Chennai that has a lot of breathing space are where you can find exceptional villas of your choice. 

 Farmhouses: Also called weekend homes, farmhouses are available at serene locations. People invest in farmhouses primarily to spend their weekends or holidays in a more relaxed and pleasant environment.

     Flats for rent in Chennai are another going big trend. Chennai has a lot of migrant population. This community of people prefers to rent residential properties close to their workplace. Hence, all industrial locations of Chennai have a great number of rental apartments with good choices. Premium builders in Chennai create homes exclusively for rentals in these suburban markets.  

A simple affordable rental Flat in Chennai     

                                                                                                                                    

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Chennai

Real Estate booming in Chennai - Why is the city the most Preferred in Realty Investment?

Chennai has transformed into a development hub. A city of focus in terms of rapid industrialization, changing requirements, modernization and even real estate in Chennai is a success story to tell.

Commercial development in Chennai

Chennai observed second position among 21 top business destinations in India in a study conducted by the Global Initiative for Restructuring Environment and Management (GIREM). Their report shows that Chennai is among the top 5 locations in the country when it comes to preferred investment destinations. Interestingly, Chennai has performed better than India’s economic capital Mumbai in a range of segments including industry, commerce, economics, education and culture.

Chennai is a diverse land filled with potential for tremendous development. The city’s economic base is driven by automobile, software, textiles, healthcare, manufacturing and financial services. Builders in Chennai have determined this potential and hence proceeded with landmark developments in residential and commercial realty. The city deserves its name “Detroit of India”. This is because Chennai houses about 30 percent of the country’s automobile industry and 40 percent of auto components industry. The Madras Stock Exchange is a fully computerized stock exchange. The talent pool in the country is also perhaps the best and most versatile that you can find when compared to most other cities in the country. All these factors and more easily make Chennai a hot spot for commercial investment.

Chennai’s Residential realty Market

As Chennai grooms itself with the advent of numerous domestic and international business players, there arises the demand for talent. Chennai is today a talent hub of the most diverse, qualified and versatile talent the country can take pride in. All this talent requires housing and real estate builders of Chennai are therefore creating exceptional and luxurious homes as per the requirements of the city’s population. Chennai has expanded in terms of its geography and today accommodates several other regions that were once remote and predominantly had only agricultural land. Today, the landscape of the city has changed.

The fertile lands in the suburban markets have given way to the construction of state-of-the-art commercial buildings, luxurious residential properties and advanced infrastructural development. If you have taken a drive through the city’s arterial roads a decade ago and returned to those places now, you are bound to observe the colossal developments Chennai has made within a short period of time. It is not just demand or realty that has progressed in the city; the prices have also skyrocketed within a decade. The Central Business District has become literally untouchable by the middle class and upper middle class sections of the society fostering development of suburban markets.

Real estate in Chennai is hence characterized by overall development. The realty scenario looks promising even in the long run as newer regions wait to be explored as the city expands its population and popularity index. And with the opening of the most awaited infrastructure project in the country, the opportunities are only going to get even better and interesting.

Projects that transformed Chennai 

Source:NDTV

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Builders in Medavakkam

Is OMR the new name of Chennai?

When real estate developers first set foot in OMR(Old Mahabalipuram Road), Chennai, little did they realize the potential the region had to offer? Today, builders in OMR belong to a niche segment that specializes in the construction of modern homes with aesthetic appeal, urban amenities and high ROI. OMR has a scenic coastline, connects to Pondicherry and has important areas of Chennai in its proximity. Further, the IT/ITES corridor that is home to some of the best domestic giants and major multinational organizations is a part of OMR. All these and more have contributed to the star status OMR is witnesses today.

Properties in OMR are new, modern and sprawling. Both residential and commercial real estate projects in this area are tastefully designed, meticulously executed with exceptional resources, splendid architectural style and delivered to the customer in harmony. OMR is today fondly reckoned as the new Chennai.

Here are the reasons attributing to the name.

• Since 2005, several thousands of families have shifted their base to OMR. The modern real estate investor prefers to invest in homes, apartments and commercial buildings in OMR over many other regions of the city.
• There is a lot more real estate development that happens at OMR over many other areas in Chennai.

• OMR gives its residents all amenities that Chennai’s Central Business District (CBD) can offer.

• Homes and apartments here are large and sprawling and conveniently located with access to all amenities.

With all these and the very scenic coastline to offer, there is no wonder why OMR is celebrated at a status unlike even the CBD.

A simple view of the grand OMR 

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Builders in Medavakkam, OMR 

Chennai

What has contributed to the colossal Growth of Real Estate in Chennai?

Chennai’s real estate market has been a subject of surprise for real estate experts across the world. What once was a city with conservative outlook and a lot of agricultural land in its outskirts is today a sprawling city with amazing potential for a real estate boom. So, there must have been more than one trigger that caused the major boom in Real estate in Chennai is headed towards. Here are the factors that have contributed substantially.

• Industrialization: Advent of several new age and traditional industries along the arterial roads of Chennai paved way to the demand for many state-of-the-art commercial buildings. Chennai was the most sought after owing to its location, abundance of land, favorable climate and potential for growth and hence the city slowly became a hub for industrial development. IT/ITES corridor at OMR/ECR and electronic, automobile and glass manufacturers on Sriperumbudur and several others in the Central Business District and other regions of the city are stellar examples of commercial development.

• Increased employment opportunities: Tremendous commercial development and accelerated scope easily attracted migrants from other parts of the country and also from many quarters of the world. Rising employment opportunities have created the demand for numerous housing units thereby causing an upsurge in residential realty as well.

• Heavy infrastructural development: All round realty and industrial growth made the city equip itself in its infrastructure as well. So, the advent of other industries further accelerated. 

• Expansions: Real estate in Chennai really began making its mark as the city began its geographical expansions so as to accommodate regions that were once deemed remote.

Industrial development in Chennai

Source: CNN Money

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Builders in Chennai