National Realtors Study Chennai’s Dynamic Real Estate Landscape

Chennai, 5th August 2024: Chennai is experiencing a significant real estate boom, marked by a surge in both luxury and affordable housing projects, thanks to various economic factors, government policies, strategic announcements, and developments. The high demand for diverse housing solutions is driving the growth of the real estate market.

To witness firsthand the unprecedented real estate growth, around 80 delegates from CREDAI National visited various CREDAI Chennai member sites, in an event organized by CREDAI Chennai, to gain insights into these developments. The site visits included luxurious projects, co-living spaces, and affordable housing projects, reflecting the city’s dynamic real estate landscape.

Highlighting Chennai as one of the best cities to invest in and live in, Mr. Aslam Packeer Mohamed, Secretary, CREDAI Chennai, said, “The ongoing metro construction work has positively influenced areas like Porur, Madhavaram, and OMR, making them more attractive to homebuyers due to improved connectivity and convenience. Additionally, the proposed increase in FSI to 6.5 in Transit Oriented Development localities will lead to the construction of multi-storied buildings and transform Chennai into a vertical city.”

Welcoming the delegates, Mr. Viswajith Navin, Treasurer of CREDAI Chennai, emphasized the city’s promising real estate prospects, saying, “This study tour is a unique opportunity for developers to come together, not only to explore architectural marvels and innovative developments but also to engage in meaningful discussions and exchange ideas that drive the housing industry forward. We believe that these visits will not only inspire but also provide valuable learning experiences that developers can take back to their respective regions.”

The delegates will tour the city over two days and visit the project sites of Ceebros ONE 74, Appaswamy Azure in premium housing segment, Vijaya Raja VRX 360 in affordable housing segment and DRA Truliv in Co-living space. The delegates will also visit Saint-Gobain plant at Sriperumbudur.