Real Estate

With the developing business after the fast paced rapid growth that has been triggered by the boom of the Indian economy, the real estate has been accelerating at very disconcerting pace which the common man is unable to really cope with.

We will look at the changing face of the real estate with the exponential growth that we are experiencing with the growing business in the city, which means that there is tremendous increase in the business opportunity that has opened up in the Commercial as well residential spaces.

Due to increase of the demand for the new spaces both in the business as well as residential needs has caused escalation of the prices in the real estate. A lot of the companies have started acquiring acres of land on the main Road both in East Coast Road(ECR) and Old Mahabalipuram Road(OMR). This has meant direct impact on the prices of the land which has resulted in the land owners to reorganize the prices in line with the market needs.

There has been spurt of increase in the real estate prices in last few years in the Chennai south. The prices have sky-rocketed to the extent of nearing the pricing of the lands going up by nearly 2- 5 times due to sudden demand of the land. Further to which the Non-Resident Indians (NRI) have also been the given the opportunity of investing from abroad which means that this added fuel to fire. This has made a major impact on the existing market which was already under heavy demand of land making the market of land prices soaring high.

The real estate prices in the ECR has been on the rise for sometime with the demand for the upper segment of the society looking at getting away from the city for either a sprawling bungalow or having an farmhouse for the weekend retreat with easy access to the beachside for enjoying the scenic attraction.

Overall the entire stretch of the ECR has attracted a lot of buyers who are either in the look out for independent house, farm house or a sprawling bungalow this has led to the increasing demands of the land to meet their requirements. This has resulted spiraling increase of the land prices against severe demands of the land both from local as well as the NRIs.

Now let us look at the investment angle – lot of layouts has been developed in Neelangarai, Uthandi just indicative of some layouts. It is good for an investment of the land in these layouts. It is would also be good to invest near Kovalam or close to Mahabalipuram. Next point of interest could be look for large acres of land for coconut grove or mango grove or some plantations which will yield good returns for the investment.

Old saying stills holds good that invest in Gold , Land or Stocks are still the best bet for the investment.

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