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A Look Into Chennai’s Fluctuating Residential Real Estate Market
28 Sep 3 min Read Read by 1501
Finding a steady real estate market is uncommon. The realty sector is dependent on a multitude of factors that affect the way it works. When Chennai real estate prices falling makes the news, it makes you wonder if investing with the best builders in Chennai is a good idea. And if it’s the other way round, you can find yourself at a crossroads. Today, investing in flats can be lucrative, especially if you are on the lookout for a 1 or 2 BHK flat in Chennai. Mahindra Lakewoods brings to you township living like no other. A part of Mahindra World City, these residences brings you the best of comforts and connectivity. Chengalpattu being one of the fast-growing locations in the city, the anticipated rise in demand for housing is fulfilled by reputed real estate brands such as Mahindra Lifespaces.
Chennai’s fluctuating residential real estate market has always been the topic of contention for homebuyers. Although the rise in demand for housing has smoothed things out for now, there’s always uncertainty looming over the real estate market in Chennai. However, there are some trends that have played a key role in the recent growth and consolidation of Chennai’s real estate market and that has brought stability to the realty sector. Beginning with the state government’s measures to bring in more investments in the IT and ITeS sectors, this move has naturally led to higher demand for housing, especially for professionals migrating here for employment opportunities.
The PMAY incentives and GST rate cut are surely driving the drop in real estate prices in Chennai and the rest of India. This is attracting many prospective buyers to either invest or buy a home in Chennai thus marking an increase in the number of housing projects being constructed. The positive aspect of this move is that the supply is now more balanced in proportion to the demand for housing thus making it an improved market for homebuyers.
Going forward, it is expected that Chennai’s realty sector sees strong growth trends and more balanced property prices to bring in more investment in terms of residential real estate. So, if you are interested in buying a home that fits your idea of a perfect home completely, you should visit Mahindra Lakewoods where there’s plenty for everyone to indulge in.
References:
1. Business Today – Residential real estate: prices drop in Mumbai, Pune, Chennai and Kolkata.
2. Square yards – Chennai real estate market in the throes of recovery
3. Times of India – Chennai real estate market sees revival
4. Image Source – Proptiger
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