The property bubble - Challenges in Chennai realty market
Hiranandani Communities | 25 Sep,2017

Escalated property price is one of the major concerns in Chennai’s real estate market. It has already started showing signs of real estate bubble. Areas like OMR, Anna Nagar, Ambattur, Padi and Porur are witnessing unrealistic property prices due to proposed projects like metro rail. However, buyers these days are willing to pay the price keeping in mind the future escalations like Delhi and Mumbai.

With several national players entering Chennai’s realty market with quality infrastructure and lifestyle amenities. These developers offer varied property options such as 1, 2 bhk as well as luxury apartment for sale in Chennai. The buyers are now aware and have high expectations from developers. IT sector has led to development of many residential projects in Oragadam Chennai. This is another reason for growing demand for flats for sale in Oragadam, Chennai.

Another reason for Chennai’s hounding realty market is due to poor connectivity in the suburban areas. However, the upcoming metro rail will greatly help determine the city’s corridor in future and further boost the demand for both commercial as well as residential property market in Chennai.

The Chennai Corporation and the Chennai Metropolitan Development Authority (CMDA) worked on identifying authorised and unauthorised buildings in Coastal Regulation Zone (CRZ) areas. It was done with an aim to safeguard Chennai’s coastal environment and minimize damage caused due to natural calamities.

However, with developments happening in Chennai, it is a budding realty spot for property investors and buyers. If you are looking forward to mint money in coming years, Chennai can be a great option to invest in. Hirandani parks Chennai offers both residential and commercial property.