Real Estate Forum on Chennai Infrastructure

Latest Answer: What are the top localities in terms of consumer preference in Chennai residential market?

Latest Answer: Hi Mr Pavan, As per different sources, the new government at the Centre speaks in the right language .Business sentiments have improved in the wake of a stable government that is encouraging policies in terms of relaxation of FDI norms, and taking forward investment vehicles like the REITs. This is exactly the message builders have sent to the state government. In a document to state IT Secretary TK Ramachandran, builders said high land cost is an obstacle in bagging contracts from one large automobile firm and an IT company which are waiting to enter Tamil Nadu with plans to occupy 3 million sq ft.

Latest Answer: Hi Mr VKumar, Industry estimates vary over the quantum of residential market absorption from 20,000–22,000 units in 2014, a dip in overall volume by 20-30 per cent over the previous year. However, there are a number of feel good factors on the anvil which will make Chennai market open up in a big way in the coming months, say realtors. The annual event by Credai members titled Fairpro has been scheduled in February 2015, where a number of developers are expected to launch their new projects.

Latest Answer: Hi, I world like to invest in a property located within 10km from my workplace. I prefer Perungalathur as it suits,my budget of Rs 30 lakh.but I world like to know more about this area?

Latest Answer: Hi , In my point of view, the government is not thinking in terms of how to make life easy for citizens. Even simple things haven’t been done. The city needs a Chief Technology Officer like in London or Singapore, who can come in and review government processes. We are not living in some primitive non-IT country. India is supposed to be the IT capital of the world. But, the government doesn’t seem to have figured any of this out.

Latest Answer: Hi Tilak, As per my knowledge, the civic body will issue the bonds during the next financial year to meet the rising expenses for infrastructure. The Corporation is unable to mobilize funds for massive infrastructure projects because of under-assessment of property tax. Councilors stressed the need for preventing this.

Latest Answer: Hi Guys, Consider Nungambakkam, where a 2BHK unit spread within 1300 sq ft costs between Rs 1-1.5 crore. However, rents are attractive considering that flats within 1300 sq ft can get as much as Rs 45,000 per month. Larger configurations (4BHK of 4000 sq ft) means you can earn close to Rs 3 lakh per month as rental returns. When the Mount Road metro becomes operational, values are expected to rise further and so will the popularity of the place.

Latest Answer: Hi, According to me, on the retailing sector, malls which are witnessing declining revenues are in for a bonanza. With 100 per cent FDI being permitted in completed projects for operation and management of malls/ shopping complexes, some of these strata title malls could have a better future .The participation of mall management companies will streamline mall operations to a great extent.

Latest Answer: Hi Mr Javed, According to me, if someone buys a new flat for Rs 1 crore and assuming the cost of UDS is Rs 40 lakh, the construction cost would be approximately Rs 60 lakh (which would exclude taxes such as service tax, VAT). Earlier, a buyer was paying Rs 3.20 lakh (8% of UDS i.e Rs 40 lakh). The buyer needs to shell out an additional Rs 1.20 lakh (2% of construction cost ie Rs 60 lakh), resulting in a total of Rs 4.40 lakh.

Latest Answer: Hi Priya, The three key growth drivers of IT / ITes, automobile manufacturing and education sector are instrumental in driving job creation in Chennai. These are the major reasons behind growing cosmopolitan culture in Chennai. With this the premium luxury segment has kicked off and Chennai has overcome the traditional tag.