Manoj Misra

This news appears to be marketing material but is still worth reading..
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Chennai propertyChennai is regarded as both the commercial and cultural capital of South India. The city is fast transforming into one of the most sought after destinations by foreign investors looking to make substantial presence in India real estate.

Today, the property market is looked upon as the only tool that can generate immense wealth and new value. And Chennai real estate is no exception to this belief. The city famous for its vast coastline stands at advantage from different aspects. When comparing its cost of living with its counterparts like Delhi, Mumbai, and Bangalore, Chennai still offers the lowest.

As a home to several multinational companies, Chennai witnesses an unparalleled growth in the commercial real estate sector. The booming IT and ITes and the BPO industry of Chennai have played a crucial role in altering the commercial real estate set-up of the city and prepared it to cater to demanding needs of the business market.

Staying in step with the development of commercial sector, Chennai residential market is also equally poised to give a strong boost to its real estate sector. The emerging trend here is that of large projects with several blocks of apartments offering an array of amenities like swimming pool, gymnasium, club house etc.

With Chennai real estate witnessing appreciation at a fast rate, property investment in the city is worth the idea. To help you further develop your ideas into successful deals, we provide you with the data to assist you in reviewing all the potential areas for your precious investments in Chennai’s property market.

Source: www.indianrealtynews.com

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Manoj Misra

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Rajita

Thanks for your valuable input. Reading this post was encouraging and looked very positive. However, I would also like to draw attention on the slowly slumping retail sector in southern India. It is rather disturbing that despite the fact that South India retailers introduced organized retail concept in the country, they are now on the down slope. Thanks to lack of quality retail space.

Where on one hand, India is pegged to add at least 100 million sq. ft. to its available retail space during the fiscal year of 2007-2008, South India shall get a measly share of only about 16 million sq. ft. Of this share, the major growth is projected to be witnessed in tier-II cities like Vishkapatnam, Mysore, Kochi, Coimbatore, and Mangalore.

While real estate developers concentrated more on IT office complexes, retail realty was dying a slow death. South India has a very strong base of young consumers who strive for quality and do not have enough splurging options to spend their five figure salaries on.

So, no time is better than now to tap this huge potential retail market. This comes from Salarpuria Developers, who believe that retail realty needs resurrection at the earliest. They have invested in construction of a 1.4 million sq.ft. “Market City” in Hyderabad’s Hitech City and two malls in Bangalore. He is just one of the many developers and if others follow suit, this region of India considered the haven of IT shall also become a haven for shoppers! Let hope for the best!