by Mr. Sanjay Chugh,
Jones Lang LaSalle India
EXECUTIVE SUMMARY
Chennai witnessed
more than 32,800 new residential unit launches, with absorption of about 22,700 in 2013.
Most of the
absorption happened on corridors populated with IT companies. Chennai has been a very robust
but a conservative market. Its unique feature is that it’s a market driven by
end users.
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| Sanjay Chugh, Jones Lang LaSalle India |
The market has
weathered all slowdowns that have previously occurred. The demand drivers for
residential absorption are robust and the IT story has strong growth potential,
of late Chennai has seen influx of new large MNC’s who have set up shop for the
first time in the city.
This further
reinforces the focus of IT Companies towards the city. Being a port city and
one of the largest
manufacturing hubs
in South India has propelled the residential demand in Chennai.
Traditionally,
Chennai has been the most preferred city in the entire South India and it
continues to attract investments as it offers the
best of educational, healthcare, infrastructure and good quality of life.
About the author..
Mr. Sanjay Chugh,
Business Head (Chennai) Residential Services, Jones Lang LaSalle India
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