It is the city of not only native Sardars and Punjabis but entire Hindustan has entered the city. The city is developing into cosmopolitan in nature. Decentralisation of commercial activities in the city and increasing migration has resulted into mass scale development of the city. Government of Punjab is serious about infrastructure, especially roads. Chandigarh has developed international quality roads and now Amristar also going its way. Lease rental for residential accommodation is rising. Corporate guest house and night stay for city visitors are on rise. Sanitorium and Dharmashalas are cheap accommodation available in the city. Out right purchase of large homes are in offing. Affordability is very high as compared to other cities.
Business of retails has revolutionised capturing the purchasing habits of the citizens. Commercial complexes are selling on booking. Rates are stagnated but sale is high.
Eklavya international school, one of the best schools spread over 60 acres shows the lifestyle the city is witnessing. Foreign banks and retail chains are glamourising the city. Huge construction activities are on.
The distance between work place to home is shortened by new roads and enhanced infrastructure. New townships in all the direction of the city has some which has stabilised the market. Supply is more than demand. Housing finance companies are giving best results to their head-quarters.
Commercial activities are also rising. Service industry is taking great leap ahead of their usual trend. Lease rental is rising.
Aftermath of gas tragedy, the new Bhopal has learnt many lessons. City builders are taking care of everything which human settlement needs to do. One of the best constructions in Asia could be located in the city. The real estate market, although very slow moving as compared to other metros, is giving hopes to the city’s skyline. The rates are stagnated for the time being but can boom any moment since State Government is planning huge infrastructure for the city.
Government is keen to bring business houses in the city. Retail chains already started functioning. Decentralising and lack of sense for CBD areas in the city will lead to further drop in commercial rates for accommodation.
After budget allocation for international port, city’s real estate got tremendous rise in property rates. The rates are reaching just double since last two months. Plots sale are in offing, commercial rates are reaching on historical heights.
Ready flats are now available with choice. Middle size accommodations are in great demand. Supply is limited for such accommodation. City is all set to change its skyline. Traders and export houses are dominating commercial market in the city. Residential areas are also having offices and culture to work from home is rising.
Commercial premises and office complexes are stagnated but shopping malls are rising. Lease rental has no movement. Union budget has created a good demand for commercial premises but it will take some time to capitalise.
Gandhipuram, Town Hall and RS Puram are best bet for better accommodation for budget buyers.
Rentals for residential units are higher then commercial premises. Small-scale industries have set in small cottages and residential units hence demand for commercial premises are absorbed by residential units availability. Power problem is on its peak in the city. It is buyers market. Rates are stagnated for now and no hope for any improvement.
Shopping malls and retail outlets are in direct competition with shops in the main market area of MG Road. Lease rentals have increased marginally in last fortnight.
The areas that form the heart of Chennai city and are active business centres such as George Town, Chennai Central, Kondithope, Annal Salai etc. The rates have increased marginally in these areas. Residential units in the city’s CBD area are turning into office premises. NRI’s are in the market for investment. Open plots are not available in primary market. Water is still restricting the fair growth of the real estate market in the city. The rates for a residential unit in posh locality are purchased at 3.5 lakh sqft. in the city. T Nagar and Anna Salai Road are best bet still for home seekers ranging between Rs.1800/- to Rs.3200/- psf.
Delhi is not left with new land for development within the city. Southern part and western Delhi is having great market. The rates are almost highest ever and competing with cities of developed countries. Total skyline of the capital has been changed. Huge construction activities are on. Farmhouses on the outskirt of the capital are costliest in the country. Good time ahead.
The capital is expanding in its southern part. Industrial belt of the city is touching Kosi. Greater Noida and Gurgaon are part of the main city. Residential colonies in Greater Kailash are best bet for settlement. DDA has auctioned its plots in the city for historically high rate. It is totally sellers market. No rates could be recorded since huge variation between transactions in the same locality. Rental accommodation market is still active in the city. Old Delhi is hub for such home seekers. The rates are still manageable on the southern side of the city.
Shops have no trend. It starts from Rs.10,000 a sq.ft. Rental chains have spoiled the entire rental market for commercial activities. Banks are also not behind. Asia’s biggest deals in property in property took place last fortnight at Connaughtplace.
C. R. Avenue, Vivekanand Road, K. C. Sen Street, Lenin Sawani, Bipin Behari Ganguly Street, Tapsia Road, Bidhan Nagar Road and Khidirpur Road areas are set to change the sky line of the city. Hectic development with ultra modern amenities are offered. Housing finance companies are getting good business.
Flyovers and roads have changed entire chemistry of the city, as far as property rates are concerned. Huge residential complexes are going to change the entire skyline of the city. The rates are in primary phase and yet to be established. Old city is still congested having no takers. Young generation are on buying spree. For Rs.2000 psf one can get a tailor made flat with ultra modern gadgets.
Market for commercial premises are still in demand. Lease rentals are increasing. IT industry in the city is fuelling in the funds for further developments.
Indira Park, Banjara Hills, University Road, Sardar patel Road and Nehru Nagar are some of the areas where hectic construction activities are on. The rates have increased marginally in these areas. Corporate guest house culture in residential colonies are some what holding the demand for residential market in the city.
Local demand is rising. Paying guest culture is also rising. Service apartments concept is proving its potentials in the city. After a small recession, the city has come back on its fast track.
Sale was slow due to monsoon, but as slow as compared with last year figures. Housing finance companies are tempting to purchase.
Selling to corporate is becoming difficult day by day since these types of buyers wants total transparency. Ratio to built up and total cheque payments are major hurdle for sale. Rates are established for almost all the arrears in the city and not moving for now.
After Mall entered the shopping accommodation, rates are becoming impossible to trace. One of the Mall at VileParle is for Rs.31,000/- per sq.ft. Shops at Malad to Borivali, near station, are costing almost Rs.60,000/- a sq.ft. Commercial complexes are getting good enquiries but there are no takers for old structures. Projects waiting for sold out in this segment are still waiting for takers. Lease for these complexes are not fetching more than Rs.60/- per sq.ft. a month.
The real estate market is sluggish. There are no takers for large flats. The rates also declined in last fortnight. Many property exhibitions are organised in this month but with very poor response. Corporate are purchasing in large chunk. Rental accommodation is dying in the city. Investors have almost finished with their dead stock. Fresh purchase from NRIs are very selective in projects.