Chennai, despite of the current economic slowdown has witnessed a noteworthy expansion in real estate sector. The industrial stagnation has positively affected the residential real estate market of the city.According to a report, from past couple of months, approximate deals worth Rs. 1,000 crore have been confirmed in the city. Right from the local residents to NRI investors, all of them are showing interest in Chennai residential market. The report also further added that 80% of the investors are end users. The residential demand is growing rapidly in the city; therefore not only the main city but even the suburbs and peripheral areas are coming up with residential projects. Residences belonging to the category of 2 and 3BHK are in colossal demand.Residential trends as per location:The residential market of Chennai is showing a mixed- sentiment. Different locations have different property trends. Properties that match High-end segment, mid-segment and affordable segment are all prominently present in the city. Perumbakkam, Pallikarnai, Medavakkam, Siruseri, Navallur, Egattur are some of the prime locations where development of premium segment and higher-mid segment projects are taking place. Areas like Navllur, Thalambur, Kavalam, ECR etc. are initiating row houses or villas projects whereas mid-segment and affordable projects are being developed in localities like Kelambakkam, Thiruporur, Vandalur, Urapakkam , Guduvanchery ,Sriperumbudur, Oragadam, Vyasarpadi. Nungambakkam is launching handful of super-luxurious projects. Perumbur, Semmancherry, Singaperumal Koil have come up with integrated townships. Most of the industrial belts are also witnessing launches of new residential projects.Effect of industrial slowdown on residential sector:The industrial slowdown has benefited the housing sector of Chennai. Due to the intensifying residential demand, many developers are coming up with new residential projects in Chennai every now and then. Many industrial companies are selling their lands due to the drop in industrial sector. Therefore the developers are buying these land parcels and are using it for residential purpose. Earlier suburbs and peripheral areas witnessed a residential growth but now developers are launching their projects in the heart of the city too.Some of the high-flying investments which currently took place in Chennai are Ceebros buys the Atlantic Hotel property in Egmore which is of total land area of 1.65 acres and costs Rs 160 crore, IFCI sells its property to one of the renowned developers of the city for Rs 93.75 crore. On the other hand, VGN bags two properties one from Tata Communication and other from HTL communication. Most of the developers are shifting their focus to the prime locations of the Tamil Nadu capital. The soaring land prices and the decelerate business market have led the companies to unwillingly sell their lands. Even people who are in need of funds are selling their lands to get benefited of the resilient prices. Both the buyers and sellers are trying to make some revenue from these land deals.Currently the housing sector is showing a stable growth and there is anticipation for further escalation in the residential realty sector of Chennai.займ на карту без отказов круглосуточновзять кредит онлайн