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The Impact of Investing in Chennai Real Estate Market

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With the residing demand of the residential project and development of projects by IT industry has make it possible for large multinational companies to take investment decisions in the real estate market in Chennai.

Chennai real estate has witnessed an alarming growth in the residential projects being developed with the passage of time. A lot of factors have contributed in creating the real value for the real estate developers. One of the most important factors is the development done by multinational companies which have made tremendous amount of investment in I.T. sector.

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The demand of the residential housing units in city can be attributed to the I.T. sector who is investing a lot of money in the development projects with the proximity to the port city, which has created an immense to this city.

Since the last two years the development in the residential units has witnessed an upward trend, keeping in view the focus on the leading projects being carried out in the city, it was catering to the influx of the people moving here in Chennai for the purpose of finding out more residential plots.

During the 2013, the sales volume dropped considerably due to the fact that home buyer’s were taking decision quite in delay which caused the delay in making construction of the residential units. Both consumers and developers have made a conviction that in the future to make decision more quickly and at fast pace to enable both to develop more and more projects in city.

2014 has been regarded as the year in which more development projects will be carried out alone in Chennai keeping in view available for the space in commercial and residential properties. The trend will be more focusing on the development of IT infrastructure with the major part being played by the multinational companies who have made investment in the past as well.

The demand drivers for this upward trend are both infrastructure and facility of public transport which makes it convenient for the customers to move without any issue from their home towards the workplace.

The upward trend in the real estate business can be attributed to the home buyers which constitutes approximately 80 to 90% of the market, focusing on the development and growth of Chennai. Keeping in view the pace of the work and project;it’s now being considered that Chennai will be a leading industry in terms of attracting lots of multinational companies.