According to a recent survey held by Indian express, the recovery rate in the Chennai real estate market is quite higher when comparing to the other major cities like Mumbai, New Delhi, and Bangalore. In the third quarter, they have sold 3085 homes out between July and September, which implies the recovery of the depressed real estate market.
Because of the constant usage of digital media, it’s easy to engage with the audience at the right time. The city witnesses the launch of 2587 new units which is just 12 % lesser than the number of units sold out a last year in the third quarter. Lower home loan rates pave the way for people to buy their dream home with no further delay.
Customers also show greater interest in extra spacious homes than their present features. People from 1bhk homes inclined towards 1.5 and People from 2bhk homes inclined towards bigger 2 bhK/2.5 bhk, which is because of graduated interest in bigger space.
This implies that the residential market shows a greater recovery rate between July and October, with booming in sales. The revival of Chennai's Real Estate market is comparatively higher than other metropolitan cities.
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