Strategically located by the Bay of Bengal, Chennai is a convenient commercial and residential locale as it is well-connected to major ports, airports, highways, & metro routes. The city is well-connected via a major network of roads such as the Old Mahabalipuram Road (OMR), Grand Southern Trunk..
unk Road (GST), Anna Salai, Outer Ring Road, & Chennai Bypass Road
With a mix of automotive industries, electronic hubs, financial sectors, and IT parks - Chennai has steadily emerged as a city that provides immense job opportunities
There has been a rapid rise of IT and business hubs along the OMR Road such as Thoraipakkam and Perungudi in the recent decade This has in turn led to the increase in demand for properties in Chennai
The quality of life here is excellent as well, as it houses a developed social infrastructure in the form of reputed schools, colleges, universities, hospitals, and malls
There is further a presence of strong constructions, built by reputed developer firms such as Alliance Group, Casagrand Builders, Brigade Group, Hiranandani, & Prestige Group[ View More ]
About Mumbai Real Estate
As per a Knight Frank Report, the housing sales in Chennai have been steadily improving since late 2020. The sales growth has remained steady post pandemic, and 2022 saw a 19% YoY rise in housing sales.
The residential sales in Chennai are mostly concentrated in the South & West micro-marke..
rkets, which contributed to around 92% sales in the second half of 2022 Areas along the OMR & GST Road are popular in South Chennai, while Porur & Poonamallee in West Chennai are in demand as well
Flats in the 50 Lakhs to 1 Crore range usually contribute around 45 to 50% of residential sales
However, the 2nd half of 2022 also saw an increase in sales in flats priced above 1 Crore Compared to under-construction projects, ready-to-move-in flats attract a higher demand
There was also a good increase in supply in 2022, with properties being launched by prominent developers such as Alliance Group and Casagrand Builders
In fact, there was also a 6% price appreciation in the metropolitan areas of Chennai Overall, with the presence of IT hubs that bring job opportunities, there is an increasing demand for properties in Chennai[ View More ]
Key Feature About Mumbai
Properties in Chennai are generally more affordable and cost effective as compared to other cities, with good return on investment options
Chennai is home to some of the most reputed IT parks, and automobile & electronic industries in India.
Some of the finest residential locales here are Porur & Anna Nagar. Micro-markets along the OMR & GST Road are popular for housing as well.
Stamp duty in Chennai stands at 7%, while registration charge is 4% on the market value of property.
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