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Real-Estate The factors that have proved an impediment to the growth of real estate in Chennai have been many. Until now, the prices were not budging from their places; they had almost gone stagnant. Though the city has witnessed an exponential growth in realty market, still, it has to cover several obstacles before it can feel a whiff of fresh air in terms of properties, both residential and exponential. The lack of social infrastructure is one of the most important factors that have proved a Tower to the real estate in the city. Unsuch as other tier-I cities, Chennai has not seen any integrated residential society .ing into picture. Prestige tranquility The reason is that the residents mostly prefer to choose properties depending upon the location. For instance, their inclination to Central Business District (CBD) has isolated other parts of the city. As far as the rates are concerned, they too are decided locality wise, irrespective of the area from where the demand for flats for sale in Chennai is mainly .ing from. The result is the imbalance between supply-demand ratios. Builders in recent past have floated more projects in certain localities, as .pared to the others. As a result, the prices in those regions have been escalated purposely, but without the proportionate demand. This ultimately has resulted in over-supply situation. The realtors are sitting over a huge pile of unused inventories, with no takers for them. This has acted as ‘domino effect’, as the rates have started seeing a downfall. In 2013, several localities witnessed a drop of about 20-30%. To liquidate the properties, builders have .e up with freebie offers for the purchasers of real estate Chennai. Such as other cities, Prestige tranquility Bangalore they are .ing up with everything that can allure the purchasers. For affluent purchasers, they have .e with free products such as microwave ovens, sedans, gold coins. For the mid-segment, they are trying to win deals by presenting cash discounts ome other factors that have proved a hamper to the full growth of property market. Lack of entertainment hubs, shopping arcades, and educational institutes in several localities have dampened the spirits of purchasers. They, therefore such as to stick to only a few colonies to make a purchase Slowly and gradually, the trends are changing several integrated residential society have been executed by the prominent builders. These will be a definite thrust to the real estate development. The property has already started bursting; this shall go in favor of the purchasers. About the Author: 相关的主题文章: