Chennai Real Estate market
HonestBroker 24-Dec-2021
Facts you can't ignore About Chennai Real Estate Market While Investing
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Let's look at the most popular trends that will shape the real estate market in Chennai ● 490 new units came on the market in this quarter, April-June of 2021 ● 709 houses were sold over three months. ● The majority of the latest launches were located lower than Rs45 lakh. From the sales report total, 40% of them were in the Rs45 lakh - the Rs75 lakh price range. ● Popular areas among Home Buyers are Pallikaranai, Pallavaram, Perumbakkam along Padur located in Chennai south and Mogappair to Chennai west. ● The property that was not sold in Chennai, with a value of 37,478, witnessed a slight rise of 3% in the second quarter of 2021. Due to slow launches and slow sales. The number of units was 37,697 in the first quarter of 2021. ● Based on the research, the real estate industry will need approximately 42 months to sell the stock in hand compared to 36 months during the same period of the prior year.
The development in North Chennai
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The Chennai real estate market is driven by the user. North Chennai is a busy industrial zone.and the region's economic activity is always driven by shipping and trading.The future of real estate in North Chennai appears to be strong. It is caused by major corporations such as Indian Oil, Manali Petrochemicals, and IT corporations.
The development in South Chennai There has been an enormous expansion within South Chennai.with OMR and ECR becoming major IT centers in the region.Because of the increasing business activity in South Chennai. Suburbs like Adyar, Injambakkam, Velachery, and Thoraipakkam have seen a rise in the market for residential homes.They are situated close to the IT corridor and industrial areas that are South Chennai.
Top Popular Areas In Chennai 1) Boat Club Boat Club is a posh residential neighborhood located in Chennai in which the homes are equipped with luxury
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automobiles. For instance, Rolls-Royces, Lamborghinis, Porsches, Jaguars, and Audis are where you will find business titans, politicians, and film stars. Price Trend in Boat Club: The average price for property in this region is 40k to 50k for a square foot.
2) Poes Garden The plots here were expensive and sold to those who could buy the properties. It is no surprise then it is no coincidence that Poes Garden is home to the owners of big businesses and film stars. Poes Garden does offer a limited-located home in Chennai. Price Trend in Poes Garden: The median property price in this region is between 30k to 40k. Rental options In Poes Garden: Properties available to rent in this region can cost up to 1.50 lakhs per month. 3) Nungambakkam Nungambakkam retains its European style, with the few new-age developments in these times aside.The upscale area located in the southwest of Chennai has transformed into an essential hub for commercial establishments and consulates of foreign
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countries, government offices, and high-end malls and cultural institutions recently. Price Trend in Nungambakkam is 20k-30k per square foot Rental options in Nungambakkam can be as high as 2.50 lakhs per month.However, some regions have rental properties that cost as low as Rs 7000 per month. 4) Besant Nagar It is located in the southern region of Chennai is a development in the Tamil Nadu Housing Board between the 1970s and the 1980s.the property values in this area have increased. In contrast, a slowdown had little impact on it. 1) Price Trends in Besant Nagar is 17k to 25k for a square foot. 2) Rental options In Besant Nagar can be up to 3 lakhs per month and in Some areas rent is low as 10,000 per month.
5) Adyar It is considered among the most expensive places to reside in Chennai. The area also boasts its own colonial history. It is home to many of the most historic buildings in Chennai. Properties price trends In Adyar is15k to 20k for a square foot
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Rental options are available In Adyar at Rs 8000 per month to 3.50 thousand per month. Thanks for reading For More Information You can Visit HonestBroker ( india’s emerging Real Estate portal)
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