Chennai real estate in their growing trend..

The real estate sector is booming in Chennai, the capital city of Tamil Nadu. Both forms of properties, residential and commercial, are again in high demand in the city after a slight short-lived slump arising out of the recent global economic meltdown. It is now not too difficult to find a home that should suit your budget and other essential requirements. This has been possible as the city limits have expanded to suburban areas, making the space problem less acute than before. The rising number of condominiums has also eased the real estate problem in Chennai to a large extent.

For acquiring a property in the Tamil Nadu capital, residential or commercial, you can get in touch with a real estate broker, either offline or online. There are a number of web sites to help you out with necessary information. Real estate prices in Chennai vary depending on the locality of the site and other relevant factors.

You will find that the prices of all forms of property are on the higher side in areas such as Old Mahabalipuram, Annanagar, Medavakkam and such upmarket localities. The rates are affordable for the middle class buyers in many other areas.

Easy availability of loans and the emergence of a new breed of young professionals drawing huge salaries from various types of sunshine industries, including the information technology sector, have given fresh impetus to the real estate market in Chennai. As more and more companies of international repute are setting up their establishments here, there is a noticeable rise in the demand for space. This has led to a spurt in the construction of apartments, bungalows and penthouses etc. to be lapped up by customers through easy monthly installments.

Compared to residential properties, the prices of commercial properties are relatively higher in Chennai. It will cost you more even if you wish to rent a commercial property here. In recent times, the Tamil Nadu capital has been witness to a remarkable growth of swanky apartment buildings and modern homes accompanied by a burgeoning commercial sector. In Chennai, the key players in the real estate sector are usually shopping malls, big chains, restaurants and other commercial ventures. They have changed the face of the once colonial city almost beyond recognition.

With the help of experienced real estate brokers or through your own research using the real estate web sites, it is no longer difficult to zero on a real estate property in Chennai that would suit all your requirements and come at an affordable price.
The Indian property is a growing region and is an improvement to the is an impending marketplace. Being the fourth major municipal city of India, Chennai residences district offices of a lot of foremost corporate dwellings. It places in the middle of the trade capitals of the nation.

Chennai’s real estate drifts have witnessed steady increases through the organizations of a multitude of IT/I.T.E.S and BPO firms, which have created a superfluity of facility, chances and enlargement visions for the residents. This has brought about a noteworthy augment in the property order. By reason of the varying standard of livings of the citizens as an effect of abrupt expansions introduced by the increasing urbanization, a substantial grow in the real estate graphs has been evidenced. The property division provides to the terrain necessities for a gigantic heap of populace.

Realty in Chennai and territory rates is reasonably cheaper than the trend pursued in other metropolitan cities caused by the accessibility of superior and apt territories of unoperated territory. Having a cosmic shoreline, the Chennai city locates at a beneficial pose as measured up to the other metro cities of India By way of a profitable investment scale, sophisticated infrastructure, academic talented personnel, sound English language abilities ornamental the wide-ranging increasing surroundings, Chennai is quickly budding as impending objectives for investors and purchasers transversely the planet.

The city is also going on to fetching a major manufacturing center for electrical and electronic industries over and above for auto sections.

Chennai property presents a surprising inflow of property builders and developers attributable to the growing commercial picture on top of reasonable cost of breathing.

Vaneet Gupta is a Professional India Property consultant to provide the service to Mostly NRI, to invest in India's booming real estate Sector since last 10 years, He is now the Managing Director of an leading property Management company .

More areas to come under Chennai Corporation

CHENNAI: The area under the Chennai Corporation limits is set to expand by over two times, with the State government issuing an order for merger of several neighbouring local bodies with it. It would be 426 sq km after the merger as against 174 sq km now.

Seven municipalities, three town panchayats and 13 panchayat unions in Tiruvallur district and two municipalities, five town panchayats and 12 panchayat unions in Kancheepuram district would merge with the Corporation, according to the government order. The G.O. said that the elected representatives of the local bodies would continue in their posts until 2011 when the next elections would be held. The decision on formation of two new corporations — Chennai-Avadi and Chennai-Tambaram — would be taken later, the government order said.

As regards Chennai Corporation, the formation of new wards in the merged entities would be based on the population. The 155 wards currently in the Chennai Corporation would also be redrawn on this basis.

The Chennai Corporation Commissioner has been given the power to delineate the wards, zones and reclassify existing wards. If need be, he can designate an Officer on Special Duty. A report pertaining to the delineation and reclassification must be submitted to the government within six months.

The municipalities that would be part of the expanded Chennai Corporation are Kathivakkam, Tiruvottiyur, Manali, Madhavaram, Ambattur, Maduravoyal, Valasaravakkam, Alandur and Ullagaram-Puzhudhivakkam.

The town panchayats are Chinna Sekkadu, Puzhal, Porur, Nandambakkam, Meenambakkam, Perungudi, Pallikaranai and Sholinganallur.

The panchayat unions identified are Edayanchavady, Sadayankuppam, Kattapakkam, Theeyampakkam, Mathur, Vada Perumbakkam, Surapet, Kathirvedu, Puthagaram, Nolambur, Karambakkam, Nerkundram, Ramapuram, Mugaliwakkam, Manapakkam, Kottivakkam, Palavakkam, Neelankarai, Injambakkam, Karapakkam, Okkiam Thoraipakkam, Madipakkam, Jaladampet, Semmanchery and Uthandi.

The GO said that the expansion of the Corporation limits was necessitated as the neighbouring local bodies were unable to develop infrastructure in tune with the growth of population.

News Extract by Anu



1 comment:

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