Has Industrial Slowdown deterred Chennai’s Real estate market?

Although the country is witnessing an economic slowdown that has direct impact on its real estate market, Chennai continues to showcase an upswing in realty. Flats for sale in Chennai are constructed in different parts of the city owing to high demand despite the slow economic progress. One important reason for realty investment during this period is because during economic slowdown, other instruments of investment face slow progress but people invest in real estate because they are expected to offer assured guarantee since they are long term in nature. Several studies show that over 75 percent investors are end users. 2 and 3BHK apartments continue to face great demand over other residential options. Properties to rent in Chennai continue to do well since employment rates are still high in the city.

Industrial slowdown and Chennai Real estate Market

Although there has been a definite industrial slowdown in the country, it continues to be good news for flats for sale in Chennai and the real estate market in the city.

• Several companies and industries are selling their land pockets because of a slump in the industrial market. This indicates the availability of land parcels in the city for the construction of residential units.

• Lands are available not only in the suburbs as was the case a few years ago but also in the Central Business District and other important regions within the city since location continues to be a growing preference with a large percentage of real estate investors.

• Chennai is today characterized by several kinds of realty projects. Properties to rent in Chennai are emerging successful since more and more migrants to the city seek up-market rental properties in the city.

• A lot of high-flying investments are happening in the city. Many industrial lands have made way for the construction of modern flats for sale in Chennai.

• Several builders are buying lands in different parts of the city and this indicates the growth prospects of residential and commercial real estate in Chennai. Construction ought to be propelled by high demand. Hence end users dictate the terms in the real estate market, property prices and choice of locations.

Chennai will continue to observe great prospects in residential real estate. Properties to rent in Chennai will grow as much as properties for sale.