Ten Most Celebrated Real Estate Builders in Chennai

Some Real Estate builders have firmly made their presence among public with television and internet advertisements, and even providing sponsorship for TV programs. This presentation brings you such top ten builders in Chennai.

Top 10 Reasons "Why you Can't sell your Flat"

• Overpriced
• Over personalized
• Recently purchased
• Flexibility
• Floor plan
• TLC
• Odour
• Temperature 
• Location 

are some top reasons that hinders the sale of your flat.

Sumangali' Flats in Medavakkam, Perumbakkam & Vengaivasal, Chennai

Profound understanding of public needs, extensive research in the Real Estate market and comprehensive knowledge of the city has helped Sumangali Homes, the builders in Chennai to create properties that would exceed customer expectations.

How has Perumbakkam evolved over the last decade in Chennai?

Real estate in Chennai represents a big market in India. Commercial, Residential and Retail Real Estate have been burgeoning and Chennai is ranked top on the list of Real Estate destinations demonstrating great potential today and tomorrow. While many regions in Chennai are progressing rapidly, Perumbakkam seem to outdo the performance of other properties in other regions. Connectivity, affordability, proximity and ROI are the main drivers of Real Estate growth and demand of the flats for sale in Perumbakkam. Each of these factors play an important role in driving progress of Real Estate market in Chennai.

Evolution of Perumbakkam

Perumbakkam has in the recent years seen an upsurge in the number of residential projects, particularly flats. But this was not the case even a decade ago. Vast expanses of agricultural land lined Perumbakkam and the nearby regions. The region was dotted with sparse civilization and little or no sign of development. But today, this is the same region that promises exceptional returns on your Real Estate investment. Flats for sale in Perumbakkam, today are hot properties that attract investor attention from not just the residents and occupants of the city but also by NRI population and expatriates. Perumbakkam’s proximity to SEZ and the IT corridor is perhaps the biggest reasons for the region to enjoy the Real Estate status it is enjoying today.

Rentals in Perumbakkam vs. OMR

Rental demands have always been high in the OMR belt owing to the rapid demand for housing. With increased demands, rentals have also dramatically catapulted to new highs. While many professionals resort to OMR region for residing, there is a greater number of IT and manufacturing professionals that prefer Perumbakkam, Medavakkam, Vengaivasal....etc, that do not compromise on proximity but are relatively more affordable than OMR. So, while they enjoy the benefits of proximity, they don’t really pay exorbitant rentals.        

                                          

Properties in OMR

Purchase of Properties in Perumbakkam vs. OMR

Flats in Perumbakkam are not just ideal as rental properties but also are perfect for purchase. Buying a property in the OMR may be near impossible for many buyers. However Perumbakkam can offer nearly the same amenities and advantages at much lesser property purchase costs. Hence, the flats for sale in Perumbakkam enjoy more demand and requirements amongst the Real Estate investing community in Chennai. 

Luxury Flats Largely Preferred Post Retirement in Chennai

Real Estate in Chennai is a dynamic scenario with even the smallest of changes causing major impact but change has nevertheless been the nature of the game especially in this South Indian city. Chennai has undergone gradual and rapid transformations in the last couple of decades. From being a primarily conservative Real Estate market to a liberal one, Chennai has seen landscapes rising and falling over the years. Even a few years ago, Chennai represented a highly affordable market but today many regions in this metropolitan city are inaccessible by the middle and upper middle income groups of people. Such is the magnitude of developments the city has witnessed in a very short span of time.

Changing Real Estate Landscape of Chennai

Having said that, Chennai also has its fair share of developing suburbs that are relatively affordable today but assure great returns in the years to come. While Chennai is expanding to encompass newer regions and suburban markets, the nature of residential properties here are no exception to the change. They are varied themselves and changing with the dynamic requirements of Real Estate investors and buyers. A number of builders in the city are today making relatively customized properties for the rich and elite who expect to see western influences and sophistication in their properties. The city that once housed a large share of independent homes is today inundated by modern apartments and high rises. Real Estate scenario in Chennai is today largely characterized by premium flats in every part of the city.

Preference of Flats post Retirement

While there can be many reasons that contribute to the preference of flats, a good reason for builders constructing these marvels come from the fact that the rich and elite of Chennai prefer to retire in posh flats that come with all urban amenities, safety and comfortable living during their retirement days. This is a prominent trend observed today. This community of investors have been selling their independent homes and moving to luxury flats that promise them a community living with safety, luxury and support. 

Video Courtesy: NDTV

Luxury was earlier associated only with certain regions in the city that included Adyar, RA Puram, Mylapore, Besant Nagar and Boat Club Road. Today, this perception is a little shaken as even suburban localities like OMR, ECR, Tambaram and Medavakkam are arriving with their fair share of luxury properties. Chennai is thus expanding in all dimensions.

A Glimpse of the latest Real Estate Destination in Chennai - Vengaivasal

Suddenly, the apartments in Vengaivasal are in great demand today. Located at just 30 kms from the Central Business District (CBD) of Chennai, Vengaivasal is today witnessing major Real Estate developments in Chennai. The region may be currently home to only a few hundred thousand residents but is gearing towards major developments in the years to come. Several premium builders of Chennai have launched a number of residential projects in Vengaivasal. And today, prices of residential apartments and other properties here are a lot more affordable when compared to many other parts of Chennai. However, the same cannot be said in the next couple of years.

Vengaivasal - What you need to know?

Vengaivasal located near Medavakkam is no longer a distant suburb lacking urbanization. It is a small and beautiful region located in the southern suburbs of Chennai city. It is today a developing suburb but one that shows immense potential to grow into a thriving residential locality.

Connectivity

Vengaivasal is well connected to many of Chennai’s prime destinations like Medavakkam, Kovilambakkam, Tambaram and Sithalapakkam. The growth observed in these areas has directly reflected on Vengaivasal that is today growing at a big rate. The suburb railway station at Tambaram is just 8 kms from the region. It is also connected to the Vengaivasal Bus Terminus. Central Railway Station and Chennai’s International Airport are all in the vicinity and enable quick and easy access to destinations within and outside Chennai. Connectivity to workplaces is also the best from Vengaivasal. All important commercial hubs of Chennai like the IT corridor at OMR, SEZ in Tambaram and other industries are well connected to Vengaivasal. Hence, people working in these places find Vengaivasal to be one of the ideal places to live in.

Property Values

One of the most important benefits in Vengaivasal is that although the area is receiving much attention and focus from Real Estate investors and industry experts, the region still enjoys the benefits of low property values and rental income, with the Sunday apartments in Vengaivasal earning special mention. 

Hence, home buyers and Real Estate investors are flocking to this region to reap large returns tomorrow. Apartments in Vengaivasal enjoy maximum benefits easily making them enjoy greater demand in the years to come.

Chennai has emerged as a city where investing in Real Estate property is challenging for middle income groups of people. This is when areas like Vengaivasal can offer abundant opportunities to develop and grow.

Video Courtesy: 99 acres

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  Sumangali Homes

Real Estate Builders in Chennai

The Current Best Real Estate Investments in Chennai

Chennai enjoys a special place when it comes to Real Estate. But since, every positive has some bit of negative shade in it; it is better to be aware and ignore the negative. So here we go, the best places of Chennai with positive attributes for Real Estate investment.

Interesting Property Search Stats of Chennai Public

The expectations and interests of the property buyers in Chennai,
most preferred and the least preferred property,
most sought after region...etc;.
Would be quite useful for the builders and property developers.

Where You should be Investing in the Next Five Years in Chennai?

Investing in residential spaces is no simple ordeal. They are for most investors, life altering decisions since a lot of money is at stake. However, a rightly chosen home can bring in exponential returns and immense satisfaction. There are many factors that go into the decision of purchasing a new or proposed property. Location plays a big role in choosing a property of your choice. The current market trends in Chennai draw favorable conclusions on specific pockets. Flats for sale in Chennai suburbs fall under such a category. Today, prospective buyers are in the lookout for up-market apartments and homes in suburban regions not only because of existing favorable reasons but also because of high ROI properties here promise.

Perumbakkam is one of those suburbs in Chennai where you should be investing in the next five years to reap large returns. There are a number of reasons why Perumbakkam is expected to rule the Real Estate roost. Here are some significant factors contributing to a purchase choice.

• Perumbakkam enjoys unparalleled location advantage. Perumbakkam is well connected to the two IT corridors, OMR as well as Sholinganallur through ECR Link Road. Enhanced connectivity between Perumbakkam and Siruseri establishes quick and easy commute to Siruseri IT Park. The setting up of Financial City in the vicinity multiplies location advantage in Perumbakkam. And because of these reasons, majority of flats for sale in Perumbakkam are bought by IT population.

• Perumbakkam offers a balance of all kinds of homes and properties. There are these large up-market apartments preferred by those with deep pockets and also the smaller homes that are afforded by the middle income groups of people. 

• Relatively reasonable land prices in Perumbakkam fuel the construction of villa projects since the area has an abundance of land that can be utilized for development of residential and commercial Real Estate.

A 3BHK Model Flat in Perumbakkam

All these reasons and more make Perumbakkam a favorable destination for Real Estate investment in Chennai. This is one region that you should consider investing in within the next five years to take home big returns on your investment.

Social infrastructure is being strengthened in suburbs of Chennai as the areas like Perumbakkam gears itself for a realty boom. As the flats for sale in Chennai suburban regions  are rapidly booked for delivery, the areas are also fast observing construction of hospitals, educational institutions and shopping malls to make life as close to the Central Business District as possible.

                                                                                                            
                                                                                                        

                                                                                                                      www.sumangalihomes.in

How ECR became the Most Blessed Real Estate Destination of Chennai?

Some regions are home to excellent properties, great infrastructure, exceptional returns on investment and a wonderful lifestyle altogether. There are many pockets of Chennai that enjoy such privileges, and there are some others that do very well for themselves and for their residents. ECR(East Coast Road) is one such preferred Real Estate hotspot of Chennai. This scenic two lane highway along the Bay of Bengal stretches from Chennai to Tuticorin. Home to a number of premium resorts, theme parks, theaters and recreation destinations, ECR sits as the lovable cherry on the big Real Estate cake of Chennai.

ECR promises a number of advantages to those residing in its stretch. 

• The apartments for sale in ECR stretch of Chennai enjoy the benefits of a scenic backdrop as well as spacious and opulent homes that promise immense breathing space for the cosmopolitan culture. 

• There are plans proposed to extend ECR beyond Tuticorin to touch the southernmost tip of Chennai, Kanyakumari.

• Residents of ECR derive dual location benefits. They are in close proximity to the city and yet away from busy roads, congested traffic scenario, pollution and narrow roads.

• A large percentage of IT population prefers to stay in ECR because their workplaces are just a hop, skip and jump away.

• ECR is home to large homes like villas, farmhouses, beach houses, townships and spacious apartments that render an up-market lifestyle appeal to the entire region.

• Property rates, over the last 5 years, have jumped skywards in ECR. This stretch was one of the first suburban markets in Chennai to develop and is also easily one of the few that will be subjected to maximum capital appreciation in the long run. 

• Neelankarai and Palavakkam are two of the highly sought after destinations in ECR. These are two regions that receive maximum housing and commercial demand from Real Estate investors.

• Better infrastructure facilities in the form of bridges at Neelankarai, Kottivakkam and Palavakkam are expected to improve connectivity between OMR and ECR. This will ease the traffic situation in OMR for the IT population traveling between these places.

Source: NDTV

Properties in ECR are amongst the best in all terms and clear favorites when it comes to  farmhouses and the best answer for luxury apartments for sale in Chennai. There are properties in ECR for every section of buyer and thus makes an interesting choice for Real Estate investment in Chennai.

- Sumangali Homes

Builders in Chennai

The Big 3 Real Estate Rating Agencies in India

All the three agencies rate the Real Estate builders and property developers based on certain criteria compiled by them. The criteria includes profile scanning of the builders, construction quality such as environment friendly, innovation ...etc

The New Beginning of the 1 BHK Flats in Chennai

The 1 BHK flats have arrived with a bang in Chennai to make a statement, a difference, a much needed one. Small, compact, trendy, reasonable..etc, had them all for the contemporary buyer. They spell luxury of a different kind.

Model Flats of Sumangali Homes

 

The Pleasing Characteristics of Perumbakkam from Real Estate Perspective

Chennai Real Estate favors certain pockets of the city a lot more than it does with the others. Perumbakkam represent a classic example of such preference, particularly with residential flats. A few years ago, Perumbakkam was relatively unheard of in the Real Estate circle. The region had vast expanses of agricultural land with very little development to talk about. But, today the landscape of Perumbakkam is almost entirely different. Perumbakkam represents a contemporary place in Chennai lined by multinational business, retail centers, also the infrastructural development and modern high rises. It is no wonder why regions like Perumbakkam feature in the most sought after destinations for Real Estate investment in Chennai.

Some distinct reasons 

• Perumbakkam is well connected to every important region of the city. Even if you have been a Central Business District (CBD) dweller, Perumbakkam connects you well to the CBD through a good transportation system.  

• Proximity to OMR invites interests of IT public that prefer to cut down their commute time to and from work. Professionals working in Sholinganallur, GST Road and ECR find Perumbakkam an ideal suburb for living in.

• There are a number of Real Estate options in Perumbakkam, residential sector in particular. One can choose from the abundance of living options, either the flats or the villas, over and above many other residential localities of Chennai.

• Perumbakkam is only on the brink of development and hence Real Estate here is still more less priced when compared to most other areas of Chennai. Pricing advantage in Perumbakkam gets eyeballs especially because returns on investment are expected to be exceptionally high.

• Many parts of Chennai, some even in the CBD, face the dearth of pure drinking water. Perumbakkam has a large water source and hence it is never a problem here. 

• Perumbakkam is no exception to social infrastructure you can find in any other part of Chennai including the CBD. Today, Perumbakkam has a number of educational institutions, entertainment avenues, malls, retail centers and hospitals and other medical facilities besides a lot more.

Podar Jumbo Kids- A Kids Institute

• The flats for sale in Perumbakkam have a greater number of basic and urban amenities especially because large pockets of land facilitate the construction of self-sufficient paradises of living.

• Nearly every premium builders in Chennai has shifted focus to Perumbakkam thereby accelerating the Real Estate development rapidly.   

- Sumangali Homes

Real Estate Builders in Chennai

Integrated Townships trending in Chennai

The township apartments for sale in Chennai are available in different price range, which is the main reason why different classes of people are fascinated. One can buy apartments within the townships, within their budget to enjoy the utmost luxury prevailing in the townships.

South Chennai stars in Real Estate Investment in India

Several reports by renowned international property consultants throw significant focus on South Chennai for Real Estate investment. Medavakkam, in particular has made tremendous progress in the last couple of years both in terms demand as well as supply of Real Estate residential properties. Apartments in Medavakkam are rising steadily and so has been their demand from 2010. Pallikaranai and Medavakkam are the southern star regions, expected to do substantially well, and reckoned as best destinations for investment in India. The significance on these two regions emerges after a thorough research on over 100 other regions in the country. There are a large number of factors that tilt the investment angle favorably towards Medavakkam- Physical and social infrastructure, proximity and connectivity to important hubs of Chennai, potential development and land availability.

South Chennai poised for further development

Builders in Medavakkam are today undoubtedly constructing premium Real Estate properties to cater to a large segment of population. A big percentage of this population represents the IT community. And it is only but natural for it to be so, because the technology industry constitutes about 70 percent of office space in Chennai. Chennai’s growth is largely driven by Information Technology and the Automobile industries. Studies show that over the next 5 years, Chennai’s industrial sector will utilize more than 21 million sq.ft and South Chennai alone would account for over 18 million sq.ft. This kind of land utilization not just benefits commercial realty but also offers great advantage to residential Real Estate in Chennai.

Additional Reasons favoring Development

Many infrastructural projects line South Chennai that includes the Metro Rail, monorail corridor and Outer Ring Road. Besides enhancing connectivity between South Chennai and rest of the city, these infrastructural projects create an upswing in realty prices in the future. Apartments in Medavakkam are likely to observe over double their current prices in the next 5 years. Also, in the next 3 years, South Chennai is expected to contribute to at least 63 percent of residential realty growth.

IT Parks and Villa Apartments

Builders in Medavakkam and rest of South Chennai are least deterred by economic fluctuations that have caused a Real Estate slump in Mumbai, Delhi and other metros. This is because Chennai has recorded price appreciations even during the crisis period. Strengthening of the IT and BFSI industries is expected to further fuel the progress of Real Estate investment in Chennai.

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Builders in Medavakkam

Property Price, the key factor between Buying and Renting

The present Real Estate scenario in Chennai is that the Real Estate builders should have to study the demand trends in the city’s Real Estate market to survive at least. Chennai has, in the past few decades, been identified as one of the safest destinations in India for the purpose of accruing long term ROI. Besides being more affordable than other metropolitan cities of the country, Chennai has been observing gargantuan industrial and commercial growth. Many regions that were once remote localities situated outside the city are today a part of the city. Hence, Chennai is on a development trend geographically as well. However, different parts of Chennai are growing at different rates. Proximity to workplace, infrastructural development, availability of amenities and connectivity to other localities and cities are some of the reasons responsible for diversified growth.

To Buy or to Rent!

Builders in Chennai mark their properties as per the location and property buyers are well aware of the differential pricing too. And because of the skyrocketing property price, people began to prefer rental options especially when their career prospects can move them from one city to another. However, there are multiple reasons why people prefer to invest on Real Estate in Chennai and hence the city presents to be a very lucrative option in the long run. Today, even rentals are growing higher not just in numbers, and therefore people find it tough to decide between property purchase and rental. The decision should usually be dependent upon the ongoing property prices.

Ongoing Property Prices

When ongoing property prices are increasing lesser when compared to the rental rate trend in the city, it is better to purchase properties for they are likely to grow higher in the subsequent years. Going for rental property may be a wise option only if you are insistent about a specific location where property prices are way above your budget or if you are likely to move from the city within a few months. Nevertheless, Chennai presents a great option regardless of whether you stay in the city or not since property prices are affordable when compared to other metros and returns skyrocketing. Yet another trend observed in Chennai is that even rentals have been growing dramatically. While the Central Business District (CBD) continues to rule the roost in both cases, regions like OMR, ECR, Poonamallee, Velachery, Tambaram and GST Road are witnessing increasing property prices and rentals.

Sandeep Mehta

Popular Real Estate hubs of Chennai

The most popular Real Estate hubs of Chennai continue to be the peripheral regions of the city. Not only these localities serve as home to new industries and workplaces, infrastructural development too has been great in these regions. Real Estate builders in Chennai have been creating residential and commercial architectural marvels in these regions that are developing at colossal rates today. Connectivity is at its best in places like OMR, GST Road, Medavakkam, Perumbakkam and Poonamallee. Moreover, there are no reasons why they should be inferior to the CBD. These regions have an abundance of amenities much like the CBD and what they have in excess that the heart of the city doesn't have is space.

- Sumangali Homes

Builders in Chennai

  

Before you Invest on a Real Estate Property in Chennai...

Real Estate in Chennai has been, over the past decade and a half, witnessing consistent demand for homes and commercial properties. The flats for sale in Chennai are being bought not just for personal stay but also for investment purposes. Residential Real Estate has grown by leaps and bounds in the city; Choosing the dream home, the right builders in Chennai and with no encumbrances form significant parts of a purchase decision. Of course buying a property, especially in a city with proliferating choices is quite a challenge.

Here is a list of tips one should know before investing or buying a property in a city like Chennai.

Chart your needs

Requirements of a home can vary from one individual to another. These are largely lifestyle and income related. When your requirements are defined, you save yourself considerable time in refined search. However, make sure financing, paperwork and other legal factors are duly looked at.

Legal check

The builders you have planned to go ahead with, must have required approvals and NOC from the Municipality of Chennai and other related parties including Electricity, Water Supply and Sewage Boards. Also, the property must have clear titles. The loan processing bank usually performs a legal check on the property and this gives great confidence to the buyer.

Proposed properties

Flats for sale in Chennai that are under construction or newly launched always offers more scope in terms of relaxed pricing. But apartments under construction must provide allotment letter and development agreement. The latter is an agreement between builders and the landowner offering permission to use and construct on that land. Builders in Chennai should possess title and possession to the constructed property, and the right to transfer. All dues including property tax, water and electricity must have been duly paid off.

Revenue and Registration

Elaborate understanding of Government policy, stamp duty and service tax helps buyers/investors decide on their choice of property. The final sale deed must be stamped and registered. Service tax is levied on payments made on apartments under construction.

Source: ET Now

When one has an adequate understanding of the policies & procedures, then investing or buying dream home is done safely. Real estate in Chennai is today booming and hence now is the right time to invest on properties of your choice at destinations that show favorable ROI.

- Sumangali Homes

Builders in Chennai

Property sale in Perumbakkam reaches New level

The new interest of the property buyers or Real Estate investors in Chennai is the flats for sale in Perumbakkam. Some years back, Perumbakkam was a no-man’s land with very frugal residential activity in the region, but today, Perumbakkam has emerged as one of the hot spots of Real Estate investment in Chennai. There are a number of reasons that easily make Perumbakkam a favorable investment option.

Price

The middle income and upper middle income segment of Chennai population find it near herculean to invest on properties in the Central Business District of Chennai. Regions such as Valasaravakkam, Tambaram, Perumbakkam..etc are in close proximity to CBD and yet offers relatively more affordable pricing in flats and other Real Estate properties for those community of property buyers.

Location

Perumbakkam enjoys a favorable location in all terms. Bound by OMR, GST Road, Tambaram, Medavakkam and Sholinganallur, Perumbakkam is all set to witness great progress along with these regions.

Infrastructural Progress

OMR’s IT expressway, the Metro Project, new transportation systems and other infrastructural developments tilt favorably towards the flats for sale in Perumbakkam.

Metro Project: Indiavision

Social Infrastructure

The region is today home to a number of avenues catering to the urban community. Perumbakkam has a number of premium educational institutions, several entertainment avenues like malls and best-in-class medical institutions thus creating more reasons for Real Estate growth.

Potential growth

Growth potential of Perumbakkam is quite high. Global property consultant Knight and Frank has researched that Real Estate appreciation is expected to be the highest in Medavakkam in the next five years. Perumbakkam is in the closest vicinity to Medavakkam and hence stands tremendous potential in terms of growth.

Owing to such current and potential demand, a large number of builders in Chennai are constructing landmark properties at Perumbakkam. Homes here are complete with aesthetic appeal, functional competence and best architectural standards. Today, the landscape of the region has changed tremendously. Vacant pieces of land have given way to construction of residential and commercial properties.

Finally, flats for sale in Perumbakkam are today the obvious hot properties promising exceptional ROI in the long run. These factors clearly contribute to the rise in housing demand in this region. Perumbakkam is a prime residential destination of Chennai that is home to a large variety of homes and properties. Studio style apartments, budget and economy flats, townships, opulent homes and spacious apartments are some of the kinds of properties one can choose from at Perumbakkam.

- Sumangali Homes

Builders in Chennai

The NRI Impact on Real Estate in Chennai

Housing demand continues to witness an upsurge regardless of economic conditions. When people find homes of their choice at ease with respect to location, price and comfort, their purchase decisions become quick, hence brings good to Real Estate investment in Chennai. Real Estate in Chennai is a great beneficiary considering these pointers vis-à-vis Real Estate market of other metros. Today, investor community in the country is a diversified group. Although, buyers continue to prefer apartments and homes in the range of 50 to 60 lacs, there continues to be pretty consistent demand for luxury homes. And this comes not just from affluent residents of the city but also from the NRI segment.

There is an increasing number of NRIs returning to India in connection with children’s education, need to live with parents or returning to their roots. Regardless of the reasons, demand for housing is also increasing simultaneously. The NRI population may have varied reasons to look at Chennai as a prospective market for Real Estate investment. 

Some of these reasons include

• Prices of apartments for sale in Chennai and other properties in Chennai continue to be relatively more affordable when compared to the prices in other metros like Mumbai or Delhi.

• Chennai offers more potential in terms of rising ROI since development trends are forecasted to be better in this city.

• Entry of diverse multinational industries showcase Chennai’s further potential to grow in the future.

Real Estate in Chennai is hence favorably considered by the NRI population. This community segment seeks luxury apartments for sale in Chennai and so the builders in Chennai have spawned a sudden interest in making opulent homes both in the Central Business District as well as in the suburban regions. The trend initially picked up in Bangalore and Hyderabad in the South and has today settled in Chennai. 

The term ‘luxury’ witnesses a landmark change in the Real Estate scenario today. Earlier, luxury homes meant a gated community with urban amenities, but today, luxury has assumed a mammoth change. People demand apartments/individual homes with exceptional interiors, bespoke fittings, swanky spa, pool in every apartment, private elevators, concierge and the works. They are willing to shell out anywhere between 5 to 24 crores for a property. 

Chennai is the most preferred simply because the buyers are most likely to invest in a very average home for this price in a metro like Mumbai. Real Estate in Chennai is thus a lucrative market to invest today since ROI prospects are very high and the city is also a safe place to live in.

- Sumangali Homes

Builders in Chennai

The Real Estate Scenario of Chennai in 2012 & 2013

Real Estate in Chennai is a very striking phenomenon. While the Central Business District has always enjoyed distinction of being the most preferred and the most invested in, there are other more silent counterparts in the city that have been growing steadily and today reigning supreme. The peripheral regions of Chennai have been witnessing immense residential and commercial growth in the last two decades. Large plots of agricultural lands have been usurped to make way for thriving Real Estate activities, since the demand for Real Estate in the city has been skyrocketing. Chennai’s Real Estate market has been largely end-user driven and hence economic slowdown has not affected the city’s realty prospects as much as it’s done with other metropolitan cities.

2012 through 2013 – Chennai’s Real Estate market

In 2012, the demand of Real Estate in Chennai observed significant movements in terms of buyer interest and large volumes of land and property transactions. 2012, therefore saw a big wave of property development and realty project launches in the peripheral and suburban regions of Chennai. Buyers and builders in Chennai engaged in large volumes of land transactions in regions like GST Road, Medavakkam, Perumbakkam, OMR and Sriperumbudur as the regions were poised for dramatic potential.

In 2013, markets began to slow down; While other metropolitan cities faced a slump in Real Estate demand, Chennai continued to do well undeterred by market drivers. But in the third quarter of 2013, the falling of rupee, market uncertainty and turbulent economic conditions made the sales velocity to drop its pace. However, Chennai picked up by the end of the fourth quarter of 2013. There was a sudden spurt of interest in the Real Estate market of Chennai especially from the NRI segment. Builders in Chennai introduced schemes and newer projects considering the dynamics of the market and buyer interest then. But 2014 is expected to take the path of its predecessor and cater to the demands of prospective buyers.

Source: ET Now

Chennai has always been considered as a favorable destination for Real Estate investment in South India. It has consistently attracted investors with the best of educational, infrastructural, healthcare and quality of life. However, Real Estate in Chennai assumed newer and larger proportions with the entry of multinational giants in IT/ITES, manufacturing, chemical and automobiles. This advent accelerated career prospects immensely thereby increasing the percentage of migrants to the city. This increase in residents of Chennai creates residential demand in the form of property purchases and rental options.

- Sumangali Homes

Builders in Chennai