As Chennai expects
the Metro rail services, the property sector is also expected to
experience changes. When it comes to real estate, The capital city
has already passed through its share of highs and lows, but nowadays
the sentiments seem hopeful and the realty market is supposed to
develop. The following section reviews Chennai as a real estate
target and its expansion. Let's take a look.
City’s real estate
market has moved with the rise in the Dollar over the Rupee in the
past. Due to dollar attraction, sales have increased by ten to15
percent in the past couple of months. But one need to note that
unless the international investor is giving the entire payment in
dollars, there won’t be much importance. Normally, a buyer invests
about 20 percent as the margin amount.
The RBI has
increased the Repo rate to 7.5 percent. The rise is of 25bps, but the
possible real estate buyers in the city are pacing gently. However,
the increase in repo rates has not impacted the realty market as it
hasn’t been able to affect the buying choices of people.
Chennai as a city
boasts well-developed civic infrastructure. It is well connected via
roads and railway network. Also, connectivity is all set to develop
through the forthcoming Metro line and monorail. In terms of a
favorable return on investment, Grand Southern Truck Road,, and Old
Mahabalipuram Road are the two main sections that collect healthy
ROI. Other than these, Vandalur, Kelambakkam, Oragadam, Thiruporur,
and Guduvanchery are few of the other expected areas that are
undergoing high real estate action. The development of the airport is
also an important infrastructural project that will help boost the
Chennai Property.
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