Although slow in actual transaction, Chennai real estate market is high on activity as far as the supply is concerned. As per the PropIndex Report (India Apartment Index), over 100 new projects are lined up in South Chennai, out of which 77 per cent will be offering multi-storey apartments and rest are single floor and independent houses. Localities, which have the maximum supply are Kelambakkam, Tambaram, OMR, ECR, Pallikarnai and Thiruvanmiyur. Check out new projects in south Chennai “Supply and demand in South Chennai are keeping pace with each other. Because of infrastructural expansion, land availability and high pace of growth, southern part of Chennai outstrips all other region in terms of preference and new construction,” says Abdul Kayoom, a local broker active in the area. Developers, such as Urban Tree Infrastructures, Alameen International, Rajkham Builders, Sanjay Developers, True Value Homes are active in the area. Maximum of the projects are offering 2 and 3BHK apartments starting Rs 15 lakh and ranging up to Rs 12 crore. As per Magicbricks, Tambaram offers 2BHK flats at the starting price of Rs 15 lakh, whereas OMR and Kelambakkam offer same size 2BHK flat at Rs 20 lakh. Pallikaranai offers comparatively smaller unit at starting price of Rs 28 lakh. Out of all, ECR is the most expensive as it offers properties close to beach. The area also has numerous plotted developments which attracts traditional riches to construct a villa here. The starting value of properties in the region is Rs 80 lakh. However, the plots are available here in range of Rs 5-10 lakh. The projects available in South Chennai offer all kinds of amenities, such as club house, swimming pool, gymnasium and big lawns. Maximum of these will be offering possession by the end of 2015. Some of the projects may be delivered in the next six months in Pallikaranai and Tambaram. “South Chennai sees high demand from people employed in IT corridor based in the area. Being affordable and close to IT hub adds to the advantages of the region. Moreover, the areas have units to suit varied budgets which makes buyers of all segment interested to invest here,” says Khader Khan, owner, AK Real Estate. What actually works in the favor of South Chennai is its connectivity and infrastructure. South Chennai boasts wide network of roads and railway line. The south line of Chennai Suburban Railway network connects maximum localities with Chennai Central. Moreover, those moving out of the city towards Pondicherry can drive through East Coast Road (ECR), a two-lane way highway, 1km away from Thiruvanmiyur. With prominent schools, colleges, industries available in same area, South Chennai is already witnessing high demand of housing units. #chennai #propertymanagement #realestate #forrent
Posted on: Sun, 01 Jun 2014 03:00:01 +0000
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