Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants
The year 2018 was a mixed bag of highs and lows for the Indian real estate sector. The initial pangs of policy alterations seemed to fade away with each region seeing visible signs of recovery across segments.
Even as the liquidity crunch and stalled/delayed projects continue to plague the sector, the main southern cities of Bangalore, Chennai and Hyderabad actually saw faster growth momentum than their northern counterpart NCR.
Retail, commercial and residential real estate saw a lot more activity in Southern cities than in the North.
As per ANAROCK data, the southern cities raced far ahead of those in the North, including entire NCR.
Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants
Chennai, the capital of Tamil Nadu, is one of the biggest cultural, economic and educational centres in South India.
Mercer’s Quality of Living Survey noted Chennai as the safest city in India and is exemplified by the fact that it has the third-largest expatriate population in the country.
Also justifiably called the ‘Detroit of India’, Chennai has over one-third of India’s automobile industry operating there.
Chennai has grown significantly in the last few years. Education prospects and employment opportunities, along with a decent lifestyle, are the key drivers that attract people to the city.
With increasing population, the city’s real estate landscape has also grown by leaps & bounds and is now spread across various zones of Chennai.
Whilst the real estate development paused momentarily due to massive floods of 2015, the fundamental demand drivers remain intact and the city is likely to continue on its growth trajectory in the future periods, reinforced by:
Chennai’s diversified economic base is anchored by the automobile,