Real Estate in Chennai in mainly divided into residential and commercial space. It is attractive to memo that just as there are takers for commercial space, residential flats in Chennai are not coming up in separation. Most of the real estate developers who are contribution residential flats in Chennai are coming up with gated communities which not only has residential space but also commercial inside the project. This is to ensure that people staying in a community do not need to step out for anything. Hence offerings which consist of residential homes today are clubbed with shopping malls and multiplexes and various other amenities which adds value to the project.
With the increased IT sector and soothing weather, unlimited people are willing to own a flat for sale in Chennai. Flats for sale in Chennai starts at Rs.11 lakhs. Places like velachery, old mahabalipuram road, ecr road, ambattur are few highly considered areas to own a flat in Chennai. Increasing demands and rising industrial sector has elevated the price of flats in the city. Therefore you have to spend Rs.26.7 lakhs for 848 sq ft 2 BHK flat in Chennai. The flats in these areas are enclosed with superior facilities like 24/7 Water Supply, Power Backup, Lift, Car Parking, along with large shopping mall, well equipped Gym and Jogging track in its nearby vicinity. Also these areas ensure safety and security of your belongings as well.
Residential houses in Chennai is facing customers who are well informed and are difficult to delight. What had looked as an enhanced feature in residential flats of Chennai has become a necessity now. The customers are also aware and demand price slash and discounts on projects irrespective of the name, date of possession and location. The market for residential flats in Chennai today is hence largely a buyers market. The builders gallery is studded with local and international players who are constantly upgrading their offers and providing attractive schemes to attract customers.
Another key factor which has not only affected the sale of residential flats in Chennai but throughout India are the slash in interests of the home loans. The low rates have prompted buyers to consider options of taking a housing loan. This has expanded their budget of purchasing a residential flat as well. The price of a residential apartment in Chennai is ranging from something around 2,500 to 3,000/ sq ft. All builders have more or less aligned themselves to this price range depending on the features and amenities and the proximity to modes of transport and communication. Whereas on one hand builders are trying to balance between the slashed prices, buyers seem to be in a hurry to book a flat before the prices soar up again.
Price of residential flats in Chennai is expected to rise up by end of September with the coming of the auspicious season. Hence there is no hankering on the decision to buy. Builders too are ready with approvals and land titles which are the basic necessities in the purchase of flats.