Real estate of Chennai has been observing continuous and rapid growth in the last two decades. And the forecast with the new residential projects in Chennai is also big. There are different factors that contribute to this kind of upsurge. Demographic attributes represent one of the segments that are responsible for the colossal change the city has been witnessing.

1. What can Investors look for in the Real Estate
market in Chennai today and tomorrow?
Real estate of Chennai has been observing continuous and rapid growth in the
last two decades. And the forecast with the new residential projects in Chennai is
also big. There are different factors that contribute to this kind of upsurge.
Demographic attributes represent one of the segments that are responsible for the
colossal change the city has been witnessing. Demographic factors include age,
occupation and income of Chennai residents that trigger the development of real
estate in the city. A few decades ago, when Chennai was not characterized by
new age industries had a different community of people compared to the ones
now. Traditional occupations are replaced by the more contemporary kinds.
Salaries have grown larger and so is the residents’ purchasing power. With an
overall increase on several factors, it is only but natural for lifestyle changes to
become larger than life.
New residential projects in Chennai have undergone a transformation from
small independent homes to large green buildings, integrated townships, luxury
apartments and opulent villas much like other metropolitan cities of the country
and other parts of the world. So, what caused such a mammoth change?

2.  Chennai has nurtured a strong economic base with several industries
becoming a part of its economy. Financial services, automobile and hardware
manufacturing and Information Technology have grown in large proportions
thereby making Chennai one of the most sought after cities for industrial
growth. The realty sector is fuelled by large scale industrial development.
 Business Process Outsourcing (BPO) is another industry that has contributed
to the boom of diverse sectors in Chennai; the real estate market included.
Real estate boom in Chennai has developed primarily because of the working
population in the BPO and software services industries that have big
employment rates and handsome salaries.
 Purchasing power is a direct result of good salaries. The working population
today can afford a lot more luxury and hence luxury apartments and villas
are meeting high demand today. Both residents of the city and the migrant
population have developed interests in Chennai’s real estate market.
 Consumerism is growing rapidly into a big culture in the city. This kind of
development in retailing is because the purchasing power of people has
increased and thereby accounting for better lifestyle and seeking better
options and choices. The hospitality sector is also growing dramatically with
several up-market international hotels choosing Chennai as their next
destination.
New residential projects in Chennai today have innumerable reasons to grow.

3. ABOUT US
Akshaya was founded in 1995 under the stewardship of Mr. T. Chitty Babu, a leading
light of the real estate industry in India. It has grown into one of the most awarded
companies in the country acclaimed for its transparent business practices and
innovation. The journey over the last 19 years has seen the company excel in both the
home and commercial domains by building more than 150 magnificent edifices in
South India.
CONTACT US
Akshaya Services Private Limited
Capitale,
No. 22, 2nd Street, Nehru Nagar,
Adyar, Chennai - 600 020.
Tel: 044 - 2445 1818
Website: www.akshaya.com