Report by IndiaProperty.com
Residential
market in North
Chennai constitutes of a small
percentage of 15 % of the total under construction stock in Chennai.
The area sees
maximum demand from traditional set of buyers who have lived in the area. The demand here comes from the
public sector employees, railway
workers and port employee who have
worked and lived in the
area throughout their lives.
area throughout their lives.
Having high percentage of middle class population under
Rs. 50 Lacs is the most proffered budget for residential properties.
Lack of job opportunities, poor access due to
presence of railway
track, water logging, inadequate
fresh water supply,
improper sewage lines are
few of the
reasons for restricted growth in the past.
With improvement in connectivity and better infrastructure
facilities in the future one can expect an increase in demand for residential
properties in North Chennai. The area would see steady growth in the future
with stand alone houses giving
way to low-rise apartment
complexes.
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