Real estate builders from many parts of the world are making their entry in Chennai. This is because Chennai’s real estate market is primarily end user driven. Unlike most other metros like Mumbai and Delhi, the demand for commercial and residential real estate in Chennai is long term and not speculative. Therefore, market conditions are quite stable and less volatile. And more importantly, Chennai population has specific preferences and requirements on the homes they intend to stay in so the need to determine timely trends and construct homes as per customer requirements is a lot more in Chennai that any other metro.
Popularity of Suburban Markets
Apartments for sale in Chennai were originally conservative but with inflow of migrant population from other cities and countries; the mindset of accommodating and looking forward to newer trends and more modern techniques has permeated the city. Also, people of Chennai were always obsessed with living in the Central Business District but today there is a paradigm shift in location preferences as well. Space, cost, serenity, traffic and congestion have pushed the city’s population to seek greener pastures in the suburban markets.OMR and ECR were the first to observe developments thereafter followed by other regions including Sriperumbudur, GST Road and Poonamallee. Heavy infrastructural development lining these regions has furthered their demand in both commercial and residential real estate. Thus, widespread demand for real estate across locations has contributed to the overall development of the city.
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