Chennai real estate has witnessed a massive boom in the recent past significantly because of the IT/ITES empowerment in the city. This has majorly affected the investment rate in the area as the city is burgeoning on a rapid pace and gives an extra mileage from other cities as well.
With the presence of numerous IT parks, Chennai has seen a lot of cosmopolitan migration in the recent part as everybody wants to stay near to their work station. Hence people are migrating from different parts of India in search of better employment opportunities every day. With each passing day, the cosmopolitan grace of the city is growing. This has significantly increased the demand of residential property in Chennai.
The outer ring road has emerged as a hot residential property in Chennai due to strategic location. While South Chennai has continuously beaten the record in pulling the buyers interest , the Outer Ring Road (ORR) made Northern Chennai captured a good amount of traction among the buyers on the back of robust connectivity. Number of Grade A+ builders are showcasing their interest with a slew of upcoming projects in Chennai.
All the projects are crafted with finest details and offers world class amenities. The variety of Chennai properties ranges from flats, villas, pent houses, row houses etc.North Chennai was earlier known to be place for blue collar workers. But the place has witnessed a drastic change in the recent past with lots of giant companies entering into the space.
It has generate thousands of white collar jobs which also had an inverse effect on the real estate property in Chennai. Another factor that has significantly contributed to the popularity is the affordable prices. Demand for properties here is constricted to plots and land. but good demand for flats is also seen .
The immense land bank that lies in the suburbs attracts many new constructions of latest residential trends. The affluent constructional activities equipped with all the facilities in Chennai’s CBD has set new benchmarks in the development and expansion of its boundary. It has been observed that the areas close to the IT parks and business hubs have witnessed massive appreciation. The areas which have been hitting the list includes like ECR, Navalur, Porur, Varasvarakkam, Pallikaranai, GST Road, Velachery, Padur, Siruseri, Perumbakkam, Pallavaram are all swanky areas.
With the help of aids from all over the country and government, Chennai has witnessed robust development. With a spate of upcoming projects in Chennai, targeted to satiate the core needs and offer world class amenities, the residents are now spoilt for choice. They can relish every facility and enjoy a premium infrastructure in their given budget, which makes it an amazing deal for the investors and end users.