by Mr. Sanjay
Chugh, Jones Lang LaSalle India
DEMAND DRIVERS
• Infrastructure
Chennai is
constantly growing and emerging into a major IT, automotive and an electronic
manufacturing hub. Commercial
demand has never seen a negative growth. A lot of new companies are investing and setting base in
the city, creating more employment opportunities thereby stimulating the
residential demand in and around
the city.
Infrastructure is
being developed to suit the needs of various industries
that are setting
foot into the city. Focus is on the Outer Ring Road (ORR) were the Phase I
(Vandalur to Nazarthpet – NH
4) has already been completed. ORR Phase II where land acquisition is in
advance stages will boost
the real estate activity along this corridor.
Chennai and its
adjoining cities are among the best for primary and higher education in the
country
today. Healthcare
and medical facilities in the city are also among the best available in the
country.
Development of new
hospitals, schools, malls and multiplexes in the emerging locations are all
stimulating growth
for the city’s residential real estate industry.
• Public Transport
The Public Transport
lines across the city are taking a turn for the better with more bus services
and routes announced by
the government facilitating faster and better commuting. Along with this, the Chennai Metro Rail
project which is expected to be ready by the end-2015, and the Monorail project
which has recently gained momentum will drive residential prices along their
respective corridors.
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