The real estate scenario in the southern cities of India has been quite different when compared to what is happening in most of the northern markets of the country. While the scene in the northern markets has been rather grim, the southern markets have been showing signs of stability and growth. The two major cities which have been in the forefront of this real estate wave are Bangalore and Chennai. Hyderabad will have to be excluded from this list as the realty market there is still in the process of recovering from the political turmoil inflicted on it for quite some time.
Real estate in Bangalore is growing at a good pace. The city has everything for everyone, right from affordable housing to luxury projects. The city is primarily dependant on the Information Technology and Information Technology Enabled Services sectors for its growth. The areas which are most in demand are located in and around the IT clusters. Northern parts of Bangalore are also getting increasing traction on the real estate front. There is increasing appetite for luxury housing in this city as High Net worth Individuals and Non Resident Indians are coming into this market.
As far as Chennai is concerned, the market is still very much an end user driven one. As such is it very isolated from the market fluctuations experienced up north. Chennai residential properties which are located in the southern parts of the city are heading towards saturation. It the northern and western parts of the city which are booming real estate wise. Properties such as Chennai studio apartments and plots which are located in these parts are fetching great returns for buyers.
Areas in the north part of the city are becoming quite popular among property seekers. This is because the infrastructure there is rapidly improving. Some 20 years ago no one would have thought about investing in Chennai residential properties which are located in the north of the city. But now end users and investors are flocking towards the micro markets of the north to make purchases. Areas like Perambur, Ambattur, Madhavaram and Kolathur are grabbing the attention of developers and buyers. The reasons for this are very simple. There are still large parcels of land available here and at cheap rates at that. One can easy purchase properties between INR 30 to 50 lakhs here.
Another area of growth is the western parts of the city. Areas such as Porur, KK Nagar, Ashok Nagar, Vadapalani, and Iyyapathangal are also quite popular among buyers. The micro markets here are relatively affordable when compared to those in the central and southern parts of the city. They are also well connected to the central business districts of the city, which is a factor that has worked in the favour of micro markets here. The GST Road stretch and the micro markets of this part of the city have also found favour among buyers. There is good demand for Chennai studio apartments which are located here.
Real estate in Bangalore is growing at a good pace. The city has everything for everyone, right from affordable housing to luxury projects. The city is primarily dependant on the Information Technology and Information Technology Enabled Services sectors for its growth. The areas which are most in demand are located in and around the IT clusters. Northern parts of Bangalore are also getting increasing traction on the real estate front. There is increasing appetite for luxury housing in this city as High Net worth Individuals and Non Resident Indians are coming into this market.
As far as Chennai is concerned, the market is still very much an end user driven one. As such is it very isolated from the market fluctuations experienced up north. Chennai residential properties which are located in the southern parts of the city are heading towards saturation. It the northern and western parts of the city which are booming real estate wise. Properties such as Chennai studio apartments and plots which are located in these parts are fetching great returns for buyers.
Areas in the north part of the city are becoming quite popular among property seekers. This is because the infrastructure there is rapidly improving. Some 20 years ago no one would have thought about investing in Chennai residential properties which are located in the north of the city. But now end users and investors are flocking towards the micro markets of the north to make purchases. Areas like Perambur, Ambattur, Madhavaram and Kolathur are grabbing the attention of developers and buyers. The reasons for this are very simple. There are still large parcels of land available here and at cheap rates at that. One can easy purchase properties between INR 30 to 50 lakhs here.
Another area of growth is the western parts of the city. Areas such as Porur, KK Nagar, Ashok Nagar, Vadapalani, and Iyyapathangal are also quite popular among buyers. The micro markets here are relatively affordable when compared to those in the central and southern parts of the city. They are also well connected to the central business districts of the city, which is a factor that has worked in the favour of micro markets here. The GST Road stretch and the micro markets of this part of the city have also found favour among buyers. There is good demand for Chennai studio apartments which are located here.
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