The Different Shades of Real Estate Market in Chennai

The Real estate market of Chennai is largely categorized into Residential and Commercial. Flats for sale in Chennai hold different price tags owing to the difference in Real estate standards and region specific demand. Some locations are simply more Real estate friendly than many others. OMR, ECR, Medavakkam, Perumbakkam and Sriperumbudur fall under this category of regions. Several Real estate developers construct affordable and qualitative residential projects to cater to different sections of the society. Therefore, Real estate Investment is not a far-fetched dream for thousands. However, there continues to be an increasing number of luxury and premium apartments and residential projects with a big price tag. IT/ITES corridor and numerous other multinational organizations have contributed to larger income of Chennai dwellers. 

Commercial Development triggers Residential Growth

The increasing number of apartments for sale in Chennai is directly attributed to the quantum of organizations that have forayed into the city. Real estate developers have begun to construct state-of-the-art working spaces to accommodate the burgeoning demand for commercial projects. Location, infrastructure, amenities and connectivity are elements that cannot be compromised for a commercial venture. As more and more such advanced projects take over Chennai’s landscape; a larger number of employment opportunities are created. With employment arrives population and population demands modern housing in close proximity to the workplace. Therefore, commercial development in a city triggers demand for housing. These changes characterize Chennai’s real estate market.

Residential Real Estate market in Chennai 

Real estate market is handled by Investors and primary Buyers. The latter belong to the community of people who buy a home for the purpose of staying and Investors are those who intend to allow the property on rent. Irrespective of the category one belongs to, both Investors and Buyers are exposed to numerous choices of ownership. There are luxury villa projects, premium flats, studio apartments, integrated townships and modern farmhouses. And each project is constructed bearing in mind the needs and preferences of the modern buyer. Contemporary mindset also demands abundance of amenities preferably within the place of stay and these can include swimming pool, play area, fitness center, club house and security besides several others. 

Flats for sale in Chennai, perhaps the most sought after investment options since they are more affordable, higher in demand, adhere to community lifestyle living and come with modern amenities. Residential apartments are hence observing stellar growth in a city like Chennai that is soaring past other metros in terms of Real estate growth.  While it is now difficult to say if commercial growth is triggering Residential demand or vice versa; Chennai’s is a growth story that is here to stay and burgeon.

                                                    
                                                   $2 million dollar flats in Chennai

src: NDTV

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