How is real estate market in Chennai and surrounding areas?

Question

I want to know the real estate bussines in Chennai,Thiruvallure and sorrounding areas.Because I want to enter the bussiness;and investment purpose.I need clear ideas.

Answer 1

For the time being Real Estate market in Chennai is booming. The reason, The govt is giving basic infrastrecture even though it is slow. Second the Large area in South Chennai is alloted for IT Industries. Lot of Software and Call Center units are under construction. Expecting more than lakh of new recruitment with in the next six months. But until now the govt does not care about the residents for them. No proper planning is done due to political unstability.
On Old Mahabalipuram high way is under fast development. The total office space in 2006 is expected 4.5 to 5 million sft. RMZ and Ascendas are getting ready only in 2007. This will satisfy Grade A office space in the city. Because of the delay the rental cost increase by 10 - 15%. IT and BPO companies have rental budget from Rs. 30 to 40 per sft.
The big promoters like Hiranandani, K. Raheja, ETA and Shriram would be ready for occupation in 2007.
The fast growing DLF IT park is under progress. The IT companies expecting the Tamil Nadu govt to follow Hyderabat for the basic need.
The global investors are expecting 10 to 12% in commercial properties in Chennai where the return is 5% in international.
With the above expecting opportunities speculation triggered and it is widening the space throughout Kanchipuram dist and the price is going up. Orakadam is the next spot light for new Industrial development. You can expect a heavy change of land cost in Walajapet and Kanchipuram in a short while. www.chennaizoom.com

Answer 2

On a individual foundation, the actual materials industry has little effect on the sale of your particular homestead. in case you desire to record it, gain this, and spot what happens. after all, somebody ought to look at your place, fall in love with it, or perhaps nevertheless they made a customary "low" furnish, like it plenty that they arrive as much as what you sense the home is worth. universal, many homestead/residences are no longer worth what they have been months in the past. case in point, contained in the factors around San Francisco, too many residences have been outfitted, and offered, because of the fact people who worked in San Francisco wanted to stay contained in the "united states factors". Now, the persons who offered those residences can no longer locate the money for the gas to force back and forth, so fees have dropped. The previous actual materials rule is "area, area, area". So, in case you're in a "warm" area, you would be able to correctly be waiting to sell your place truly. Or, somebody would fall in love along with your place. bear in mind, the actual materials Agent needs you to record your place for a minimum quantity, because of the fact it truly is much less annoying to sell if the value is under it ought to be, than whether it truly is greater. Please be careful to do your individual analyze and locate-out what recent sales are on your section. you may truly locate-out what sale fees have been a year in the past, too. in this way, you could desire a miles better sense for what your house is worth. Many components pass into the value of a house. They incorporate how many homes are on the industry on your section, the rates of activity, and the final concern element. besides, there are people who desire and can locate the money for a house, and there's a customer for each homestead. If somebody ought to truly anticipate the quick-term destiny, they could be truly, truly prosperous. contained in the long term, the charges of residences will pass up, because of the fact each and in line with annum there are extra people contained in america of a.

Answer 3

Look the areas towards south. It is booming and yet to reach its peak. but invest in land and not in flats.

Answer 4

Is it a fair and open market?? or is there a bubble??
http://www.breakingbubble.com/index.htm