Property Investing News From Chennai

By and large, investment property in India is facing an upward price trend and among the top metros, Chennai is being eyed by all the major as well as the minuscule realtor's as a gold mine. There’s a very positive trend that’s seen in the real estate scenario in Chennai in the past few months.

The tremendous growth in the IT as well as the BPO sector has taken this industry by a pleasant surprise. Added to this is the boom in the local economy. According to industry experts, there is a great demand not only for residential projects but also for commercial as well as in the retail sector.

What comes as a big surprise is that many foreign property developers are setting foot in Chennai to encash on this favourable trend and a few Israel based companies too are hogging the limelight by investing heavily in both commercial as well as residential projects coming up in this city. Singapore based firms who are known for their architectural marvels are also in the process of setting up their offices in Chennai which has now become the ideal destination for all individuals, with affordability playing the major advantage.

As cited, the major advantage offered by the city of Chennai vis-à-vis Mumbai, Bangalore or Hyderabad is the commercial real estate value (CRE value). The value is far less compared to the other metros. Moreover, the office space availability in Bangalore and Mumbai is now a major constraint as there’s crunch of space and added to the woes, the CRE values are sky rocketing day by day. In comparison to the other metros, the CRE value is far less in Chennai and there’s no dearth of office space which is easily available on lease. The other plus points for having a base at Chennai for all the realtors is the availability of skilled labour at less cost, low cost environment and better resources for business development.

Chennai is fast adapting to the changes and has now turned into one of the leading Metropolis in India ranked among the top four metro cities. The inflow of more jobs in the IT, BPO, automobile, medical as well as financial sectors have led to the flourishing of the real estate industry in Chennai. Property developers are en cashing on this upward trend and are providing a host of services to excite their customer. Property Management Services, Maintenance Services, Wood work and Interiors etc. form a part of their added services which comes to the customer at no extra cost encouraging people to buy investment property in Chennai.

Projects in offing are those which can give a major face-lift to Chennai with Malls of 3.5 lakh sq.ft area and sky scrappers coming up at almost all places turning those areas which were once considered as “outskirts” into a self contained city. Unlike the other metros like Mumbai and Bangalore where people involve in speculations by choosing properties for investment, the people in Chennai buy mostly for their own use which keeps the prices under control.