Real Estate Scenario Of Chennai
These real estate agents are mostly private, full service real estate companies
, which specialize in new residential project marketing, office buildings, apartments in Chennai, shopping centers and industrial buildings. Some of the real estate companies deal in commercial leasing and sales, administration, development and brokerage of offices, industrial properties, etc.
Property in Chennai
Chennai has been a big name in the context of Indian real estate. A number of plots are being developed into special economic zones also, which will definitely encourage more and more investors to look
real estate Chennai as a potential investment source. The investments from multinational companies, and opening up of new offices will surely create more and more jobs in the city and will add to the economy of the city. Both formal and informal approvals have been achieved to set up SEZs in different parts of Chennai.
Commercial property in Chennai
The real estate consultants are eyeing to set up a number of high end projects, such as 5-star or business hotels, shopping malls, recreational centres, etc. Leading corporate giants are expanding their base in Chennai, and would require space for their new operations. The areas which have been targeted for the establishment of these IT and ITES companies are Old Mahabalipuram and Guindy. The rental value in commercial property in Chennai is around Rs 30-55 per square feet, and the value has been appreciating annually.
To provide them with ample space and a world class infrastructure, the real estate agencies are buying new plots after getting approvals from the signing authorities and are providing with the appropriate office space. The efforts from these companies have been highly appreciating with the commercial property market of Chennai seeing new space, and marking a steep rise in the demand for the office space in Chennai. The demand has been high, and hence the total projected supply has been exhausted, as expected by the real estate market experts.
Residential Properties in Chennai
There has been also development of a number of residential projects, to meet the growing the ever-increasing of population in the city. The posh locations in the city have been Kodambakkam, Alwarpet, Nungambakkam, Kodambakkam, Vadapalani, Saligramam, Salai, Adyar, Chinmaya Nagar, Mambalam, Ashok Nagar, Anna Nagar, KK Nagar, etc.
There is competition among the real estate builders to build world class building with unmatched quality and state-of-the-art products. Involvement of the architects, architecture consultants, builders, government authorities, and various other bodies, have brought a change in the look of the city, while changing the lifestyle of people.
Recently, Chennai has witnessed a complete turnaround in the all over infrastructure of the city. The government of India and the government of Tamil Nadu have joined their hands and are taking combined initiatives by paying dividends in terms of approval of real estate Chennai projects that are aimed to upgrade the infrastructure of Chennai and its suburb regions.
by: Rashmi Karan
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