Chennai Real Estate Builders : Boon or Bane !

Real estate is really booming in Chennai, a boon and not a bane for the builders and promoters.

Chennai city boasts of an array of prime builders. These builders have the reputation, tradition, integrity and quality that contributes to state-of-the-art buildings, be it residential houses, apartments, commercial complexes, malls or even building suburban townships.

ITES and Real estate boom:

Chennai, like other metros in India is becoming a heartthrob of IT sector. Many multinational companies (MNCs) have chosen Chennai real estate builders as their global destination for promoting IT in a big way. Infact, an IT corridor is fast becoming a reality in Chennai.

The stress is on thoughtfully designed interiors, with plush exteriors. People are willing to pay for quality. There is no compromise on quality and luxurious living. This is mainly because of the fat salaries and perks that the MNC employed enjoy. There are also enough international and locally reputed banks willing to give financial assistance in the form of housing loan based on the excellent remuneration the present generation of ITES draws.

Salient considerations for Real estate to flourish:

A few years back, importance was given to the location of the building (homes, shopping complexes and residential apartments). With the advent of the metro trains, with increase in the number of private buses, and more importantly with the increase in the purchase of two wheelers and cars, location is not a consideration any more.

Customers normally choose a builder who has reputation of having survived in the market for several years. Several newly mushroomed real estate promoters are not attracting attention of the buyers at all. Infact the trend now is to pay more if the quality sought is available.

These days, even the middle class section of the population craves for a dream home of their own. They want a home with maximum comfort at affordable prices. These customers seek commitment from the Chennai real estate builders coupled timely delivery. They are looking for builders who will promise comfort, and at the same time provide better value for money without compromising on the quality.

Going by the records of many prime Chennai real estate builders who have been in the market for more than two to three decades, one can simply say that enduring homes are built

With quality

In a most convenient location

On an attractive budget

Many of the prime builders choose to build houses, residential apartments in properties that are situated in the heart of the city. If it is suburban housing construction, the builders make sure that the properties are well connected by arterial roads. The location should have ample bus and train connections to enable easy commutation.

What do the Real estate builders promise

Chennai has given opportunity for an innovative team of new generation builders who have proven track records of excellence in architecture and construction industry.

These Chennai real estate builders employ a professional corporate approach to meet the ever-growing demands of the homebuyers in Chennai.

In keeping with the expectations of the present day buyer, the builders promise

»Elegant and stylish architecture simultaneously adhering to the functional design.

» A litigation fee, clear titled property

» Most of the builders keep with the regulations prescribed by the Metropolitan development authorities and are no more interested in deviations.

» Usage of quality materials in construction is strictly followed.

» Nowadays real estate builders deliver quicker and faster. At the same time there is no compromise on quality workmanship.

» Some of the builders infact offer more than what is promised in the beginning. This normally includes more amenities for the same price.

» The customers get the value for money and in most instances are happy with the buyers.

Real estate: a boon or bane: Current scenario:

Considering the above facts and going by the number of high-rise building in the city, real estate is booming and it is a boon to business. There was no doubt a lull a few months back with stringent regulations from the Government, with cost of construction on the rise and availability of building sites scarce.

Now, the swing is on the upward rise and immensely favors the real estate builders.

With residential spaces getting dearer by the day, the scope of commercial and retail spaces is big.

Established builders start showing interest in big malls and commercial complexes in prime areas in the city. Old dilapidated buildings, which may have housed many a British office, or officers quarters, or a bungalow sprawling several acres of land are all turning into uptown supermarkets providing shopping and entertainment sprees for the diligent customer. It is indeed sad to note that some of the distinguished addresses in Chennai consisting of sprawling bungalows and guesthouses and certain ancient business houses that have stood the test of time have all become multiple storied commercial spaces.

The value of land is Chennai real estate builders is on a constant rise. This has also resulted in a new genre of real estate promotion that provides land with building. The current trend is to obtain atleast half an acre of land and go in for a small residential independent house rather than flats. Probably the urge for being independent is reflected even in the selection of house and style of living of the present age population. They earn big and want to stay non-interfering and non-interfered.

The State and Union governments are also promising fresh impetus to the construction and building sectors. Foreign direct investments (FDI) are also allowed and this has facilitated automatic route to invigorate investment in Real estate and other infrastructural sectors.

Real Estate is growing in a much faster pace than imagined in South India and especially in Chennai city. The trend is positive. The growth in the economy has largely contributed to this boom. There is a constant increasing pressure, especially from the MNCs and ITES to provide commercial infrastructures as well as residential dwellings. Projects are extending on the suburban areas stretching several kilometers outside the city limits.

International standards and quality in construction have become the order of the day. Builders are vying with each other to satisfy the cash-rich customers who are unwilling to compromise for quality and style.

Todays Real estate builders are creating inroads into the construction industry and revolutioning the office spaces, market complexes and residential spaces. They are not dealing with simple sand and bricks anymore. They have become environmentally conscious and socially responsible. Above all they are vowing to build dreams in firm realities to satisfy the present age population with sophisticated lifestyles who want excitement and peace coupled together. This dream reality is bound to continue for a couple of years.