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. 

- Sumangali Homes

builders in Chennai