by Mr. Sanjay
Chugh, Jones Lang LaSalle India
In Chennai, unlike
in other Indian metropolitan cities, the residential market is driven by end
users who constitute 80-90% of
the buyers. This buyer base provides a strong foundation to long term
investments in the city’s
residential market as it reduces market volatility.
It is recommended
that buyers make an investment decision keeping in mind the various schemes and offers that are
being offered by developers. Also in the current market the buyers have a wide
choice of locations, apartment
sizes and prices, which going forward may not be available due to the increase
in demand in the near
future.
Apart from Chennai
city, locations close to the IT hubs, specifically on the OMR and ECR will
witness a lot of traction and
interest from buyers due to factors such as employment opportunities and
development of social
infrastructure. Chennai is a preferred choice among other metros in terms of
residential investment and capital
appreciation.
So buyers should be
optimistic as the residential market picks up pace this year and make a
conscious decision to pre-empt
the curve and ride the upswing.
The opportunity is
now.
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