56% Drop on Launching New Projects in Real Estate Chennai

The Chennai residential market reported a fifty six percentage drop, on new launches, throughout the first half of the current fiscal. As per a recent report the delay was mainly due to approvals.

In the Cushman & Wakefield (C&W) report explicit that Chennai witnessed inflow of around five thousand five hundred residential units within the housing market throughout the first half of 2013, a major drop of fifty six percentage as compared to a similar amount last year, that witnessed twelve thousand six hundred units.

During the first half of 2013, over 4500 or around 96% of those new units were launched within the affordable and mid-end segments mainly in locations like GST, , Mogappair, Velachery and Rajiv Gandhi Salai. However, this can be significantly below first half 2012 that saw over 11900 new units launched within the mid-end class alone.

During Quater1 2013, a fall in residential launches was witnessed majorly attributable to the delays in getting approvals, however the situation improved in the last 3 months and a rise of 40% was recorded as over 3200 new residential units were launched in Q2 2013, mentioned in the report.

It was also mentioned, that about 700 and 200 units comprised of reasonable and high-end segments. Whereas locations like Tambaram, Guduvanchery on GST Road and Maraimalai Nagar witnessed the launch of reasonable comes, Nungambakkam, Pakistani monetary unit Nagar and Kotturpuram saw new living accommodations and villa comes being launched within the luxury phase. The properties for sale in Chennai gives ideal property schemes for the NRIs still as well as for others wanting to take a position in luxurious chennai property, row homes in Chennai, freelance house in Chennai, flats available in Chennai, properties available in urban center, luxurious Villa’s in Chennai, flats in Chennai. The NRIs wanting to shop for a lavish residential property back within their home country for future settlement will get the simplest choices in the Chennai as a result of variety of western vogue residential schemes with globally acclaimed options being planned here on an oversized basis. The investor’s are bound to get a good alternative for his or her property investment with such a lot of varieties of residential and business properties types within the Chennai. Properties for convenient investment as per one’s budget are often simply found here as properties in several formats and specifications in several locations of Chennai being planned by the developers. For those yearning for cheap properties will select the associate investment ventures in residential district regions whereas those yearning for the simplest and luxurious homes or business areas ought to decide on happening and fashionable regions in Chennai like OMR, Adyar Nagar, Velachery etc.

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