Comments on: Latest News of Real Estate In Chennai http://internationalpropertyinvestment.com/latest-news-real-estate-in-chennai Property Investment around the World - Buying Investment Properties Fri, 14 Oct 2011 16:38:56 +0000 hourly 1 By: riathareja http://internationalpropertyinvestment.com/latest-news-real-estate-in-chennai#comment-3835 riathareja Tue, 15 Apr 2008 10:00:22 +0000 http://internationalpropertyinvestment.com/latest-news-real-estate-in-chennai#comment-3835 Chennai is experiencing a major real estate makeover. Indeed, the new growth areas are not in the heart of the city; it is the sleepy suburbs that are witnessing frenetic construction activity. Nothing illustrates this boom better than the shooting up of land prices to levels unimaginable even a year ago.The residential market in Chennai is typically an occupier or end user driven market rather than an investor driven market. Many developers confirm that at least 85 to 90 per cent of all their sales happen to end users and not investors.Chennai is an important base for all the IT majors, including Wipro, Ascendas, Tata Consultancy Services, Infosys and Polaris. There are several reasons why this is so. The most important one is the city's reputation as a reliable centre for technical education, which results in companies being assured of a steady supply of qualified personnel. Apart from the Tier I companies, there are several smaller ones that operate in the IT-Enabled Services (ITES) and Business Process Outsourcing (BPO) segments.In order to provide a further impetus, both the Centre and the State government are initiating projects such as the four-lane Chennai bypass Phase II, a cloverleaf structure close to the airport that will directly connect the city to different National Highways. This is expected to ease traffic congestion in the city. The Rs.200-crore project is to be completed by 2008. A six-lane road, replacing the two-lane Old Mahabalipuram Road, leading to the IT corridor is also due for completion.Real estate developers say the average age of prospective clients now has dropped to 28-35. Young and adventurous, with disposable incomes that are a manifestation not only of the IT boom but also of newer occupations in the service sector, they come from all over the country. Says one real estate promoter: Chennai's biggest advantage is that it blends the characteristics of a small town and a big metro. <em>riathareja's last blog post..</em><a href='http://feeds.feedburner.com/~r/blogspot/ziph/~3/270468378/new-projects-coming-up-in-hyderabad.html' rel="nofollow">New Projects coming up in Hyderabad</a> Chennai is experiencing a major real estate makeover. Indeed, the new growth areas are not in the heart of the city; it is the sleepy suburbs that are witnessing frenetic construction activity. Nothing illustrates this boom better than the shooting up of land prices to levels unimaginable even a year ago.The residential market in Chennai is typically an occupier or end user driven market rather than an investor driven market. Many developers confirm that at least 85 to 90 per cent of all their sales happen to end users and not investors.Chennai is an important base for all the IT majors, including Wipro, Ascendas, Tata Consultancy Services, Infosys and Polaris. There are several reasons why this is so. The most important one is the city’s reputation as a reliable centre for technical education, which results in companies being assured of a steady supply of qualified personnel. Apart from the Tier I companies, there are several smaller ones that operate in the IT-Enabled Services (ITES) and Business Process Outsourcing (BPO) segments.In order to provide a further impetus, both the Centre and the State government are initiating projects such as the four-lane Chennai bypass Phase II, a cloverleaf structure close to the airport that will directly connect the city to different National Highways. This is expected to ease traffic congestion in the city. The Rs.200-crore project is to be completed by 2008. A six-lane road, replacing the two-lane Old Mahabalipuram Road, leading to the IT corridor is also due for completion.Real estate developers say the average age of prospective clients now has dropped to 28-35. Young and adventurous, with disposable incomes that are a manifestation not only of the IT boom but also of newer occupations in the service sector, they come from all over the country. Says one real estate promoter: Chennai’s biggest advantage is that it blends the characteristics of a small town and a big metro.

riathareja’s last blog post..New Projects coming up in Hyderabad

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