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
-Sumangali Homes
Builders in Medavakkam
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