Chennai has its conservative attitude deeply woven in its fabric, which is clearly reflected in its property rates. It cherishes the diversity and is a good investment option for house aspirants. The idea of large integrated townships, introduced by various builders did not generate the expected response. Any property would require the close proximity of various facilities, which is a big concern from the township’s perspective. The bundled facility that the townships offer with gated communities and in-house hospitals, schools has not received the patronage the builders anticipated.
Expect the situation to change soon, because of the influx of population in the suburbs of Chennai. Add to this the affordable price tag of these gated communities. Demand continues to rise in such competitive segments of the real estate market. Never has the market been so competitive like today, which presents a challenge to both, the builder and the buyer. The builder tries to offer the best offers and deals, cashing in the presented opportunity. The buyer wants to make a good investment that gives appreciation in the future. The nexus between the buyer and the builder has narrowed down with the advent of technology.
Buyers nowadays are aware of the various trends in the real estate market, and have a ready reckoner on the best localities to invest. Informed decision making is an important factor to zero in on the perfect property. The price of a locality is dictated by its proximity to various facilities, ease of transportation and its position in the city. These factors are crucial to make decisions for the buyer. The real estate market needs a good supply of land that can be developed upon with facilities and social infrastructure. It’s a difficult proposition and easier said than done. But, the change has to start somewhere, and why not with us?
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