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Chennai City Residencial Prices Zoom Upto Past Rs 1 Crore

by pptiger123

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Chennai could be a developed town replete with centers of cultural events.
The city administration of town is unconditional within the hands of
the Corporation of city that was establish in 1688. It comprise of
one hundred fifty five councilors. They're directly untouched by the
residents of city. The city local department, happiness to state
Police takes care of the law and order of town. Whereas the law of
city is headed by commissioner, the city body management of the house
Ministry of state. The city's traffic is managed by the Traffic
Police of city (CCTP).


The Chennaiites exists as a developed trade and commerce center within
the South Asian country. Complemented with different factors like
licensed medical base station and facility supplier,tourism trade,
arts and learning center, the region doesn't necessitate any
testimonials. The auto trade and IT sector has place town in world
ranking of this reality town has many times been referred as urban
center of South Asia. Some medical institutes individuals craving for
the simplest of the treatments. And also the expertise of it there
area unit golden beaches, inviting monuments, holy places and global
organization oblivious Tamil culture.

If you are an apartment owner in a good and healthy location in city areas,Then you can feel proud that you
can choose a very good location in Chennai .But if you are the one
due to invest in residential for a specific
Chennai Property location, you will have to cough up not less than Rs
2 crore. Soaring land values, lack of clear title residential
property Chennai, fierce competition among Chennai developers and
demand exceeding supply have all made buying a
n apartment a
virtually impossible task for the common man.


Yet another factor of development
control rules which have controlled the residential development for
decades in key locations across the city. On FSI have made housing a
costly exercise for Chennai over the years without reason. The worst
affected sector is the middle class for whom the question of
acquiring their dream home in Chennai areas will be a Herculean task
hereafter. The Tamil Nadu residential Board apartment owners in key
city locations are sitting pretty as the development exercise on
their existing units would fetch a windfall besides cash incentives
in the years last.

Just visualize the apartment prices for
select ongoing projects across Chennai City locations and for a 1200
sq ft apartment the price is over Rs 1 crore: Alwarpet (Rs17,500 to
Rs20,000), Anna Nagar(East) (Rs 12,000-Rs12,500), Besant Nagar (Rs
12,500 to Rs 13,750), Adyar (Rs 13000), Kalakshetra colony (Rs
15,000), MRC Nagar (Rs 10,500-Rs15,000), Kasturi Ranga Iyenger road
(Rs 28,000), Nungambakkam (Rs 13,000 – Rs15,000), R.A. Puram (Rs
13,500), Sri Nagar Colony (Rs 14,000-Rs16,000), T Nagar (Rs
12,700-Rs15,000) and Valmiki Nagar (Rs 11,000 to Rs12,000).

Even the resale apartments in Chennai city locations are quoted at rigid
prices due to nowadays which the transactions are taking much longer
time, say Realtors monitoring secondary market price movements in the

At the same time not all city of Chennai properties can fetch fancy
There are road restrictions issues that have made
even prime and wonderful properties lying idle for several years as
buyers do not evince keen interest at such prices. Even property
in Chennai
developers are shying away from joint development
in such Chennai city due to lesser ratio for development of Chennai.
Some developers are keen to even accept 55:45 (developer) as the
selling value recompense them with higher revenue and the lead time
is short.

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