Latest Chennai realestate news

In the past few years, the latest realestate news in Chennai is it has shown a steady growth in the real estate market. Though the country has seen an economic slowdown within share market and other markets, according to the Chennai real estate news the real estate market is growing rapidly every year. The residential properties in Chennai are seeing a high demand among the buyers.

The economy of the country has come up again and many people have come forward to buy the real estate properties strongly as never before. With increased demand for residential properties the builders are launching new projects in Chennai to meet the excessive demand. The property prices have also gone up with increased demand for it. The real estate market is always driven by the end user. Since 2010 the Chennai real estate news notifies that market has shown an enormous growth and it has installed confidence in every buyer to make the purchase decisions. The investor participation is very much necessary in the real estate market unlike other markets because the real estate market is long term in nature.

The residential properties are in high demand everywhere in Chennai especially in the main city. As per the Chennai real estate news the property prices are extremely expensive in areas like Mylapore, T nagar, Adyar, Anna Nagar etc. The real estate developers have started exploring areas of Chennai suburbs including Chrompet, Thamabarm, Pallavaram, Thiruneermalai, Thiruvanmiyur etc to launch their new projects. In this case the properties are cheaper when compared to the main area properties. The builders have started working on the plans of bringing up their township projects and other projects since 2011 and planning to make it available in next few years.

The apartment types are huge in Chennai realestate. It is accessible to people with both high budget and limited budget. Townships are available with multiple amenities to serve each and every individual in the family. In this case the property prices are expensive compared to the normal standard properties available in the market so customers of Amarprakash find nil Amarprakash builders complaints regarding price. In case of normal standard properties in realestate chennai with just basic facilities the property prices are cheaper. The 2BHK houses in Chennai realestate are available for rent from 5000 INR to more than 20000 INR. There are wide options available for rent, for buying and for lease in realestate in chennai thus making finding a property for living easier.

Chennai real estate news in the next three years

In the next three years the Chennai builders have planned of bringing up nearly sixty seven thousand five hundred residential units to meet up the demands for the residential properties. Of all parts of Chennai the south Chennai leads the market with multiple projects coming up accounting for nearly sixty eight percent of the projects in south Chennai. The western part of the Chennai is leading the next after south with twenty seven percent of the projects coming up in western Chennai.

As per the United Nations study, Chennai is in short of 60,000 housing units of which 6000 houses are deficit in the upper earning class, about 12000 in the middle income class and 18000 within the lower income class and about 24000 among the economically weaker sections. Today news about real estate in Chennai is seven thousand five hundred residential units are already in progress and they will be satisfying the needs of the high income and mid income classes. Modifications have been done in the Chennai town development management rules to aid in the additional residential growth. The Chennai developers are facing high pressure to price the property high within the forthcoming quarters. The increased prices of the properties are due to the rising cost of construction.

Chennai OMR and ECR real estate news

OMR has turned out to be the high end residential property destination. The other areas like Permabur in the north, Sriperumbudur in the west are seeing high growth with the launch of properties in Chennai.

The other area which has gained lot more attention with launch of premium villas is the ECR stretch. One can find ultimate luxury in this area. The Chennai suburbs have shown a good growth in the real estate market. It is quite easier to find a property in the Chennai suburbs for cheaper rates. In future, with high infrastructure in the Chennai suburbs area there will be no more availability of cheaper properties.