Property value in Chennai -A recent study

As of today, there appears to be a slow-down in real estate transaction in Tamilnadu, particularly in Chennai.  Some of the reasons being:

1.  Hot property owners wait and watch approach.

2.  Development only in selected areas.

3.  Government announcements regarding SEZ, acquisitions, Expansion of Tier 2 Cities 4.  Increase in interest rate of home loans.

5.  Rise in Guideline Value.

6.  Buyers wait for any correction.

But reasons 4& 5 are not deterrent factors for slowdown.  Some interesting features of the study are enumerated below:  Property related registrations in the Suburbs outnumber the City area suggesting the growing customer preference for outskirts and the availability of land.  Sub-Registrar offices of SRIPERUMBUDUR, TIRUVALLUR & WALLAJABAD have witnessed 100% growth in property transcaction over the two years since April 2005.  Whereas areas in Velachery, Neelankarai have not seen a phenomenal rise. However, the City has outdone the suburbs in terms of property value.

Many big land Developers Mantri, Landmark, Purvankara are eyeing Chennai especially the IT belt of Old Mahabalipuram – NH45 from Tiruvanmayur to Thiruporur-Thirukazhikundram with their Mega projects to woo the professionals of IT sector.  The Government’s initiative to improve the necessary infrastructure has added pep for the substantial growth of Greater Chennai beyond Tambaram on Southern side and Sriperumbudur on the Western side of Chennai.

It is judicious for the Non-Resident Indian investors to approach these areas for investment in order to reap the benefits of  the growth.  At the same time, NRIs have to be careful in investment as many fake transactions are also doing rounds.  To get the best, approach only reputed builders,  legal experts, genuine property consultant before putting your good money.

ALL THE VERY BEST!  For any of  your needs do approach us www.bestnri.co.in or mail us: info@bestnri.co.in

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9 Responses to “Property value in Chennai -A recent study”

  1. Lavanya Says:

    hi,

    I need some information on property in chennai. Iam interested in buying a commercial complex.So in which area we find them a lot under construction.

    I need even a flat.which areas are good in chennai to go for a flat.Please give me this information through mail.

  2. Kamal sinha Says:

    hi,

    I need some information on property in chennai. Iam interested in buying a commercial complex.So in which area we find them a lot under construction.

    I need even a flat.which areas are good in chennai to go for a flat.Please give me this information through mail.

  3. DR GOVINDARASAN Says:

    Respected Sir,
    Myself DR GOVINDARASAN , a government servant having an offer to sell a vacant land measuring 66 by 120 feet on GST main road in GUINDY near Hotel Le Meridian suitable for showroom is avilable for sale. First hand information. If interested please contact.

    With kind regards,
    DR GOVINDARASAN

    govindarasank@gmail.com

  4. Ganesh Says:

    Land for sale at Chennai 1.4 acre, suitable for Hospitality, Commercial ,Corporate & Industrial ,Institutional Purpose with 120 sq ft Frontage on Chennai-Bangalore Trunk Road ,National High way-NH-4,about 25 km from Kathipara Junction(Guindy) Chennai Gateway At Mevalurkuppam in Sriperumbudur Taluk near chitipattu ,Saveetha Engg College , EMPEE DISTILERI Group opposite, 500mts from Arakonnam highway also ,before Hyndai Factory

  5. Raghunathan Says:

    Real estate properties are growing in suburbs of Chennai for investment purpose and not for living. Now people moving beyond Tambaram upto
    Guduvancherry, beyond porur upto Poonamallee.

    As far as city is concerned, the real estates rates have not come down. It is stable and buyers are postponing just to find out price fall. But it wont happen in city because vacant properieties are almost nil in city and slow down is temporary and price will be on upward trend only.

    We have a project of 8 apartment 1+1 with covered car parking, just 5 miniutes walk from AVM Studio. Project will be completed in 8 months from now. If any group or individual interested, please contact me.

    I can also assist you in your real estate needs.

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