Chennai the Next Big Thing in Real Estate

By: George Gonigal

Chennai, the capital of Tamil Nadu is the fourth largest metropolitan city of India and enjoys the status of being one of the most viable cities for real estate development. In recent times Chennai real estate has gained more prominence due to the booming IT/ITES sectors. There has been a sudden increase in the demand of Chennai commercial and Chennai residential properties. The myriad features that make this city all the more a lucrative option to be in are the urbanized infrastructure, the geographical location, the easy access to land along with the prospect of constructing large floors. All these have contributed to make it the most preferred real estate Market.

The escalating demand of Chennai residential properties has heightened the residential property prices majorly at locales like Poes Garden, McNicolls Road Kilpauk, Nungambakkam, Harrington Road, Besant Nagar, and Ashok Nagar. Besides this it also has developed the market for the commercial and the industrial realty sector. For commercial, the areas that most in demand are Radhakrishnan Salai, Nungambakkam, Alwarpet, Guindy, Sardar Patel Road, some parts of Anna Salai (Mount Road).

This place fast wooing big realty players of national repute with the Mall culture seeping in and all set to exert its full allure. It already has some 20 glitzy shopping malls planned to come up in the next three years. Famed builders like DLF, Shriram Properties, and Prestige Group are coming up with distinguished retail projects in the city. Since, there are no large parcels of land within the city; many developers are heading towards the suburbs and planning malls in that part of the city.

With witnessing a complete makeover with the ongoing construction activities, a result of constant demand from the information technology (IT) sector, which has certainly given a push to real estate developments in this known city of South. So, it is definitely the right time to invest in real estate in Chennai. So don't just wait. Log on and find out more about Chennai properties and real estate, visit India's No.1 property site Magicbricks.com.

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