Chennai is the capital of Tamil Naidu has mixture of traditional values, historic and modern. The city has grown at a faster rate and its growth can be attributed to its geographical location, accessibility to railroads and sea air. Chennai is not only well established roads and facilities railways, but is more commercial and industrial center in southern India, according to a report soon will be south of the largest international airport in Asia.
The prices of the title = "property in Chennai"> property in Chennai were at the peak during boot of 2007, but with the year ended property market saw sharp drop in prices and this decrease was due to economic slowdown and IT crashing of the global financial markets because there were fewer buyers and more investors. The slowdown affects many cities and states in India but stable Property prices in Chennai were quiet with little price correction soon. There were lower sales of the projects that were above Rs.50 lakhs and market moved the market a seller's market buyer.
After the deceleration of the builders and developers have focused more on affordable housing. According to a major construction companies are focusing on the construction project of housing, and about 2 lakh houses will be built taking into account the middle-income people in seven major cities like Chennai. The price of these homes will be around 15-25 lakhs. The real estate giant DLF, in collaboration with Merrill Lynch, come with massive housing project in Chennai. Hyderabad-based IVR builder also announced the first mass housing project in Chennai. Of According to a municipal real estate broker will cost around Rs.18-20 lakhs. Bangalore based DivyaSree Developers have shown interest in the concept of mass housing and affordable housing will rise along the East Coast Road, 12 km before Mahabalipuram, near Chennai.
Because many corporations Multinationals have set up in Chennai and other cities of its proximity to industrial and commercial residential property is in demand in the city. Chennai has affordable and luxury homes to offer. The search for a property is no longer a tedious job in Chennai, either because you can contact any real estate agent and help you with the property search or search for property online. Today there are many real estate portals where you can search or advertise your property. You can get in contact with many real estate agents while your property requirement and budget and facilitate their work and will be one percent commission depending on the price of the property after trying is final.
Even after the slowdown also the "property> commercial property is very much in demand and Chennai in the coming years is expected to get six to eight new malls, shops, theaters, cinema, shops, etc. Also at the mall and Express Avenida Ampa Aminjikarai white Roadwill ready later this year 2009.Investors believe it's time to invest in property in Chennai as housing prices have fallen but real estate experts believe that this would not remain for a long time before the real estate market will rise and property prices will rise.
About the Author:
Neha Chawla writes on behalf of 99acres.com, which is an internet portal dedicated to meet every aspect of the consumers needs in the real estateindustry. It is a forum where buyers, sellers and brokers can exchange information, quickly, effectively and inexpensively. At 99 acres, you can advertise a property, search for a property in India, browse through Chennai Real Estate and Properties.
Article Source: ArticlesBase.com – Chennai property market
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