Real estate market of the country is thriving higher at all micro and macro sectors. One among the macro sectors of India that is witnessing upward sales is Chennai. The realty sectors of Chennai is flourishing in the country despite rising input cost, increased interest rate and also delay in the project approval. Although in the year 2012, the realty segment in Chennai doesn’t seem to be more appealing, the scenario has changed by the beginning of 2013 where huge demand for residential spaces exists. At present, more choices in housing units like villas, gated community apartments, budget residences, luxury flats etc are available for people.
National secretary of CREDAI (Confederation of Real Estate Association of India) has given credit to the state of TamilNadu especially Chennai for generating massive job opportunities in various sectors which resulted in increased sales of residential properties. Chennai builders play a crucial role in delivering many commercial and residential projects. When we look into the report of past 3 years, around 5 lakh job opportunities were generated from IT companies, ancillaries, telecom, textile and lots more. Due to this expansion of companies, builders are constructing residential projects along the secondary areas of the city that means areas that are witnessing development and in process to enter the city limit.
Sholinganallur, Sriperumbudur, OMR, Porur, Perambur, Oragadam, Chrompet, Tambaram etc are some areas that is seeing high purchase demand and recording maximum increase in property price for about 40%. In earlier days, this scenario was witnessed only in the prime localities of Chennai. In addition to this, property cost increases by some other odds such as labor shortage, rise in input cost and other material shortage such as brick, cement and sand. Though there are many shortage and increases in construction of projects, the residential sector in the city is showing a stable growth with capital appreciation of around 120% over the year 2010. With the gain of high capital value, many non-resident Indians (NRI) are showing interest in Chennai properties.
Most builders in the city are unhappy with the new guideline value and stamp duty registration as it is affecting their profit gain through less number of property registrations. But reputed builders like Amarprakash never bother about these changes as they work for people and not for profit. Also, these changes will never stop the sales of Amarprakash properties, this can be clearly seen when the homes in The Heritage projects got sold out within a short duration, this information is provided at Amarprakash Heritage review page in the forum. Also, steady capital growth is assured because the project is located at Chrompet, center of business hubs in Chennai.
For more info visit : http://realestatereview.sitezulu.com
National secretary of CREDAI (Confederation of Real Estate Association of India) has given credit to the state of TamilNadu especially Chennai for generating massive job opportunities in various sectors which resulted in increased sales of residential properties. Chennai builders play a crucial role in delivering many commercial and residential projects. When we look into the report of past 3 years, around 5 lakh job opportunities were generated from IT companies, ancillaries, telecom, textile and lots more. Due to this expansion of companies, builders are constructing residential projects along the secondary areas of the city that means areas that are witnessing development and in process to enter the city limit.
Sholinganallur, Sriperumbudur, OMR, Porur, Perambur, Oragadam, Chrompet, Tambaram etc are some areas that is seeing high purchase demand and recording maximum increase in property price for about 40%. In earlier days, this scenario was witnessed only in the prime localities of Chennai. In addition to this, property cost increases by some other odds such as labor shortage, rise in input cost and other material shortage such as brick, cement and sand. Though there are many shortage and increases in construction of projects, the residential sector in the city is showing a stable growth with capital appreciation of around 120% over the year 2010. With the gain of high capital value, many non-resident Indians (NRI) are showing interest in Chennai properties.
Most builders in the city are unhappy with the new guideline value and stamp duty registration as it is affecting their profit gain through less number of property registrations. But reputed builders like Amarprakash never bother about these changes as they work for people and not for profit. Also, these changes will never stop the sales of Amarprakash properties, this can be clearly seen when the homes in The Heritage projects got sold out within a short duration, this information is provided at Amarprakash Heritage review page in the forum. Also, steady capital growth is assured because the project is located at Chrompet, center of business hubs in Chennai.
For more info visit : http://realestatereview.sitezulu.com