Real Estate Sector in Chennai is traversing an upward path. The growth has been steady and promises much more in the coming days. There are several factors that can be credited for this upsurge. Chennai's aesthetic geographical location makes it an ideal place for both residential and commercial set-ups.
Easy accessibility to the city plays a very crucial in the growth of Real Estate Sector in Chennai. Chennai is very well connected through sea, road and railway networks. Certainly these modes of transportation encourage the industrialists to come to the city and explore the business opportunities. With the expansion of Chennai's economic base, the demand for the growth of realty sector is bound to increase.
If we talk about Chennai's Real Estate Sector, it can be classified into three broad categories; commercial, residential and retail. The residential real estate sector in Chennai relatively shows much scope of growth when compared to other Indian cities. There are some prime locations in Central Business District (CBD) area. These locations include Alwarpet, Nungambakkam, Egmore, Mylapore, etc. New residential projects are being approved for these locations.
The commercial Real Estate Market in Chennai is also booming. IT/ITES companies prefer this city and thus the demand for office space, industrial set-up, etc. is on the rise. When talking about retail real estate sector, malls are mushrooming and hypermarkets have developed. The policies of the state government are encouraging the investors thus giving the impetus to the Real Estate Sector. As far as Realty Sector is concerned, it would not be an exaggeration to say that in the upcoming years, Chennai will be stiff competitor for other major cities in India. Infrastructure, accessibility, location, government policies, etc. are some of the factors that will lead real sector in Chennai to new heights.
3 Comments
NoBrokerage Property
16 January, 2023 at 5:44 pm
Impressive, this is very important to know for all of us about this Latest Residential Property News. I really love this blog and surely recommend to my friends. Thanks keep it up
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Deborah Picardo
03 October, 2012 at 11:55 am
Interesting point of view although a tad too optimistic as far as figures go the IT market in Chennai has been hit quite a bit and thereby the city has a sink in the real estate market. The share of IT/ITes sector which contributed 75% of the total office space demand in the first Q last fiscal slipped to 48%
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Marin County Real Estate
26 September, 2012 at 8:21 am
By this post we have to understand the reality in Chennai for the real estate its a nice information
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