Chennai real estate market has been stable with moderate price appreciation of 8
to 10 % in 2012. With inprogress
infrastructure projects taking shape, the demand and capital values are
expected to rise across all sectors. Focus on improvement of public modes of
transport has been one of the major highlights in Chennai. This is evident from
the expansion of the existing highways, work on Chennai Metro and the Outer
Ring Road.
Approval of 3 new bridges connecting ECR and OMR at
Neelankarai, Palavakkam and Kottivakkam is expected to impact the capital
values. Going forward growth in Chennai would not solely be determined by the
IT / ITES sector, but also the transport corridors of the above mentioned
infrastructure projects. Chennai market is looking forward to the MRTS and BRTS
projects to give the city a new face in 2014-15.
2012 has seen the city shift investor focus from the usual OMR,
ECR to the WEST and NORTH of Chennai. The operationalization of the TIDCO &
Ascendas SEZ at Tiruvallur and the operationalization of the new airport at Sriperumpudur in 2015 is driving interest in the North & West Chennai
regions.
In 2013 Chennai real estate market is expected to see stable
growth with moderate appreciation
Src: India Property.com
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