When compared to several other important cities of India, Chennai has witnessed great real estate growth over the last three years. Flats in Chennai observe high demand and premium real estate builders are constructing architectural marvels as per customer requirements. Since the market is largely end-user driven, rising migrant population determines residential real estate market in the city. Job security is also high in the current times and therefore Chennai’s real estate scenario bears a positive outlook in the years to come. Chennai has over the past decade attracted different kinds of industries primarily because of
1. Strategic location
2. Cosmopolitan culture
3. Advanced infrastructure and
4. Presence of skilled manpower
Therefore, land in Chennai has been used to the advantage of large industrial houses and multinational organizations that have increased the employment scope of the city. Chennai real estate can be categorized into different segments that include the CBD or Central Business District comprising Nungambakkam, Mylapore, T.Nagar, Alwarpet and Egmore; micromarkets such as Sriperumbudur and Oragadam and suburban markets like OMR and ECR. Distance from CBD is no longer a concern since connectivity to and from these places has been strengthened and the once-remote areas are today complete with contemporary facilities similar to that of CBD.
Property developers in Chennai have therefore generated a healthy demand for commercial and residential properties in and around CBD. And this balance has fostered the economy of Chennai.
1. Strategic location
2. Cosmopolitan culture
3. Advanced infrastructure and
4. Presence of skilled manpower
Therefore, land in Chennai has been used to the advantage of large industrial houses and multinational organizations that have increased the employment scope of the city. Chennai real estate can be categorized into different segments that include the CBD or Central Business District comprising Nungambakkam, Mylapore, T.Nagar, Alwarpet and Egmore; micromarkets such as Sriperumbudur and Oragadam and suburban markets like OMR and ECR. Distance from CBD is no longer a concern since connectivity to and from these places has been strengthened and the once-remote areas are today complete with contemporary facilities similar to that of CBD.
Property developers in Chennai have therefore generated a healthy demand for commercial and residential properties in and around CBD. And this balance has fostered the economy of Chennai.
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