How Chennai Real Estate withstands Economic slowdown?

The real estate sector in Chennai has observed mammoth changes in the last two decades. The very conservative city has undergone tremendous changes and residential projects and plots in Chennai are witnessing radical transformation in terms of architecture, size, location, style, options and prices. Any city’s real estate sector is hugely dependent upon its economy. Similarly, if Chennai’s real estate scenario is seeing such large scale development; the city’s flourishing economy is cited as one of the most important reasons. Today, Chennai real estate has grown to such proportions that regardless of economic conditions; the impact on the industry here has only been minimal.

Economic slowdown and Chennai Real Estate

Residential projects and plots in Chennai continue to be in demand even when other metropolitan cities like Mumbai and Delhi faced major setback especially during 2011 and 2012. Those were the years when many industries faced the brunt of recession but investors continued to invest in Chennai real estate. Negative impact of real estate in Chennai was negligible and the industry bounced back to its glory quickly. Opening up the city to new commercial players and multinational companies enabled the development of new industries that are doing extremely well. 2 and 3BHK apartments receive great demand in Chennai that is home to a large percentage of newcomers.

Inflow of Investors

Today, Chennai residents are not the only ones that have originated from the city. Chennai has a healthy balance of people from other parts of India and many other countries even. Housing hence is a major need. There even has been a time when housing demand was not adequately met by supply of housing units. Premium developers were quick to realize the potential the city had to offer. They stepped in at the right time to make quality, premium, luxury and affordable housing available for all kinds of real estate buyers.

Residential projects and plots in Chennai quickly grew to large proportions. So, regardless of the economic conditions; people of Chennai needed housing options when they arrived in the city for lucrative career opportunities. Demand accelerated pricing. Also, real estate investment is identified as one of the best kinds especially when the

economy faces turbulent times.

Short term and highly volatile investment options plummet during these stages. But real estate stands steady and offers high ROI in the long run unlike options like mutual funds or securities. And if it is real estate; then where can you find a more delightful deal than in Chennai?