Chennai is the second most sought after residential destination in the country which has picturesque coastline after Mumbai. Chennai has dominated the residential market for a long time and many localities from Chennai are emerging as the hotbed for the residential real estate in the country, especially the southern part of the city are favored as ideal residential options in the city. In southern Chennai, Pallikaranai and Madavakkam are the top residential destinations in the city which are observing huge demand for the residential units along with great price appreciations. Submarkets of Pallikaranai and Madavakkam are also expected to dominate the real estate market of the country in next five years. Chennai real estate market is highly driven by IT/ITeS sectors with added advantage of availability of land parcels, social and physical infrastructures. IT/ITeS sector constitutes about 71 per cent of the total space in Chennai real estate; the southern suburbs of Chennai have become favorite destination for this sector due to the proximity of industrial areas.Real Estate ScenarioAutomobile industry and IT/ITeS sectors are the major driving factors in Chennai’s growth, and Pallikaranai is the most sought after real estate destination of the city. The residential prices of the region are expected to rise by about 90 percent in the next five years. The region has observed great absorption level in the past five years; about 80 per cent of the total housing unit launched in the area was absorbed during this period. Chennai’s residential market has also suffered from the economic turmoil which resulted into slowdown in the real estate across the country, but Chennai’s residential market remained moderate during this period. Especially the southern parts of Chennai including Pallikaranai and Madavakkam remained the top gainers during this period.The central government has worked over several measures to make the Indian economy back on track which have directly or indirectly influenced the real estate market. Chennai’s local government has also taken several steps to encourage the real estate in the city.Pallikaranai real estate submarket promises huge future prospects from both end users and investors’ point of view. Experts are predicting that the sub-market will surely fetch more than two fold returns in the next five to ten years.The premium residential localities of the Pallikaranai include Kamakoti Nagar, Jeyachandran Nagar, New Colony, IIt colony, Sri Ganapathy Nagar, VGP Shanti Nagar, Maxworth Nagar, Rjalakshmi Nagar. The region comes in the proximity of various industrial regions and IT corridors which has been catalyst in the emerging residential real estate market in the city.Location and InfrastructurePallikaranai is strategically located in the southern suburbs of the city, it also comes under the jurisdiction of CMDA which has highly benefited the growth of the region. The proximity of the IT corridors and SEZs with excellent connectivity has aided the emergence of the region as residential hotbed in the southern part of Chennai. IT and Industry giants like HCL, TCS, Infosys, Wipro etc are well connected with the locality. The locality also houses several retail centers, multi functionality hospitals, schools and colleges.The region is well connected via road with the prominent city locations though two arterial roads – Velachery Main Road and Pallvaram-Thoraipakkam radial road. The upcoming monorail corridor having Pallikaranai as one of the station on the rail road is under knife of the municipal corporation which will surely boost the real estate market of the region to the highest level in the future.займ на карту без отказов круглосуточновзять кредит онлайн