Why the rates of the properties in Chennai is going down?

Q: It looks like rates of properties in Chennai is going down. What is the reason behind that and even I heard that soon the developers have to claim for the CRISIL and that will be mandatory. What is CRISIL and why they are making it mandatory for all the developers?

S Subramanium, Chennai

27th October 2011

Real estate News in Chennai

property rates in chennai

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The people in Chennai are paying less heed in buying the properties and as a result the prices of the property are going very low. CRISIL is a global analytical company providing ratings, research, risk and policy advisor services and it is the largest credit agencies, and moreover the developers have to claim for the CRISIL because some of the developers will be putting big hoardings for the advertisement of their project to attract the buyers and people seeing that will invest large amount of money in such project but they may not be happy when it gets completed, so it was made compulsory to claim for the certificate of CRISIL.