Chennai is a beautiful city located in the State of Tamil Nadu, was formerly known as Madras. It is the main place of Information technology. As we all know many leading Information Technology Companies are located at here and we are seeing vast changes in every field. If you are looking to buy, sell or rent a property in Chennai, then it is good news for you because the rates are mostly based on square feet. Chennai is a highly populated city with well equipped utilities like 24 hour hospitals, pharmacies, police, hotels, restaurants, banks and ATMs in most of the localities. For investment buying plots in chennai is the best idea.
The upcoming Chennai Airport Project would create business prospects and boost the property values in the city. According to a Chennai real estate business, the sale of a 1200 sq. ft property in Porur, Avadi, Thriuvallur and Thirumazhisai, prime localities in the city, more than 50 crores, has sent the Chennai real estate market.
Apartment values in Thiruvallur, near Avadi, for the month of December are around 2500 per sq.ft as compared to 2000 per sq.ft for the month of September. The demand for hotels and service apartments would also set off as a result of airport renewal. This will mean more business for the hospitality industry. Further it will also benefit the travel and tourism industry of Chennai. All this would help boost the economy as well.
In the city business environment have always worked in the advantage of Chennai real estate. But presently it’s the way the city is shaping up to equal the standards of modern living and on looking new developments, that’s magnetizing huge investments.
Chennai real estate market is still continuing its development in and around the city and it is time for the real estate developers and investors in future. Now in Chennai, the Government has launched new projects like Chennai International airport and Vandalur Bus Terminus, in coming years the infrastructure and connectivity of the city would be improved. In future, it will be tough to buy plots in Chennai and around areas.
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