Be choicest when you invest in your dream home!

You deserve the best while investing in your dream home. Let it be the facilities or amenities or location, choose the finest available in your city. In Chennai, places like OMR and ECR has gathered a momentum soon after the IT and industrial development. A report says that since being ranked as one of the best cities to live in, Chennai is a preferred destination for global investors and the builders are quiet positive about their prospects for this year.

An abundant increase in the migrant crowd along with real estate being chosen as one of the best mode to invest, the industry has seen a real time rise in recent years. In spite of high construction costs and increase in other taxes and many other factors, the demand has increased in a steady rate.

In this issue, let’s check on the factors that influence the growth of residential realty sector in Chennai.

Dream homes in chennai

• Infrastructure

In 2014, we witness Chennai emerging into one of the main IT, automotive and an electronic manufacturing hub. In the recent times, there is no negative trend in commercial demand. With a whole lot of new companies investing in the city, more employment opportunities are being created and this has stimulated a residential demand in and around the city. Also the infrastructure is being developed to match the requirements of various industries that are new in the city. The areas which are mainly focused include the Outer Ring Road, Grand Southern Trunk Road, OMR and ECR amongst other neighboring suburbs in Chennai. Healthcare services and medical facilities in the city are also the best available in the country. The development of new hospitals, schools, malls and multiplexes in these  emerging suburbs are few other factors that stimulates growth in the city’s residential realty sector.

• Public Transport

The more the city’s population grows, the more demand rises for public transport. With the government announcing additional bus services and routes the Public Transport across the city is gaining momentum. This facilitates a much faster and hassle free commuting across the city. Besides the road transport, the progressing work of Chennai Metro Rail project which is expected to be completed by the end of 2015 is sure to influence the price hike in respective corridors of residential sector.

To summarize, in a city like Chennai, the residential realty market is determined by the home-buyers who constitute 80-90% of the consumers. The market volatility is completely reduced by this strong foundation to long term investments laid out by the buyer base. It is always recommended to take an investment decision after understanding the various schemes that are being offered by builders in Chennai. In the current scenario, the home-buyers are offered a wide range of choices in locations, lifestyles and prices, which may become stagnant in the near future due to rise in demand.