The Indian economy has become quickly amid the previous 15 years, which added to exponential development in land properties crosswise over India. As indicated by a late article by Indian government, Residential property in india, realty market in India records to an incredible 11% of the National GDP.
Chennai, the city of diverse landscapes has earned the tag of the most revered destination in South India. This has happened on many accounts (a) Development of Infrastructure in terms of roads like ECR and Ring Road and Metro. (b) Opening up of MNC corporate IT parks. (c) Availability of international airport and Port. (d) SoPs doled out to the IT as well as the manufacturing sector.
Real estate property in Chennai has grown at a steady pace in the past few years. The city has expanded south as well as westwards. The RG IT expressway has come up as a major axis of growth. A number of IT parks, SEZ and commercial buildings have come up, which has further initiated development of residential projects.
The real estate and property in Chennai has retained its property index as compared to other cities in India, as the property rates have not gone up exponentially and are still in the range where the end user or middle class household can afford it. Another factor which has contributed towards the stability of real estate market is the fact that Chennai has seen an all-round healthy growth in terms of the manufacturing and IT sector.
Chennai has seen a healthy realestate trends in Chennai growth, due to the ever improving infrastructure, in terms of roads connectivity, internal as well as external; local rail network and now development of metro. The airport is located in the heart of the city and adds to the city’s TRP as a real estate destination.
Chennai scores high on the Liveability Index as compared to other cities in India, which earned it the tag of the most desired city in south India and would remain a popular real estate and property destination in the years to come.
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