Housing Projects in Chennai – The Demand and Supply

  • Projects in Chennai
    12Jul 2017
    Chennai, also known as Madras till 1996 is the fourth largest metropolitan city of the nation. Situated on Coromandel coast, it is the capital of Tamil Nadu. Known as the gateway of south, the rapid growing economy and industrialisation of Chennai has led to migration of lots of people in Chennai from varied regions of the country. With the growing density of population, the demand for property in Chennai is also increasing.

    Acknowledging the growing demand for property for sale in Chennai, several real estate builders and developers have come up with new launches of residential projects in Chennai. They offer varied types of property options such as studio apartments, 1 or 2 BHK flats in Chennai for affordable housing options. While there is also a great demand of 3 BHK flats or luxury apartments in Chennai.

    South Chennai areas like outer ring road are emerging as the key realty hot-spot in Chennai. The growing industrialisation and rapidly thriving IT hub has made Chennai one of the most viable destination with boosting real estate market around booming areas such as OMR, GST Road, Ambattur and Avadi. Being the base in manufacturing, IT and several other service sectors, the property prices in Chennai is mostly high. And the demand for property in Chennai is all time higher.

    Chennai’s real estate shows 7% of price appreciation every year. Though the real estate property prices in Chennai are subject to market trends, there are numerous options that you can look forward to for buying property in Chennai. Areas such as Guindy, Velachery, Taramani, Rajiv Gandhi Salai, witness huge demand for residential property in Chennai. While areas like Guindy, Perungudi and Velachery are the micro markets that see higher commercial property demand due to social infrastructure.

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