AFFORDABLE HOUSING

The economy is slowly rejuvenating itself after being stung by recession. The demand for housing has started gaining momentum gearing up construction activities. Buoyancy prevails in the realty sector as there is a promising surge in demand.   However, the buyers’ focus now is on ‘affordable flats’ only.  High-end flats presently are not favoured as the economy is still on the path of stability. There is a definite shift in preference of buyers from OMR to Velachery, Madipakkam and places en route to Tambaram from Velachery.  There is a general feeling that places along OMR are yet to catch up Velachery/Madipakkam on the infrastructure front, barring some good roads along OMR.  . The areas in Madipakkam like Ram Nagar North/South lying close to Velachery are preferred by most of the buyers in view of proximity to schools, malls, rail and road connectivity and not being too far from IT hub.

According to a leading independent global property Consultancy viz., Knight Frank, affordable housing requirement is expected to be well over 2 million units by 2011 in India.  80% of demand is expected from Rs.3-5 lakh  income group.  Furthermore, 32%

of the potential buyers have plans to purchase in the next 6-12 months.

To know more about availability of ‘affordable flats’, please visit www.palacehomes.in.

If one wants to spend less for housing and yet enjoy the benefits of a premium place, the right choice for now is Madipakkam.  This cocoon is transforming into a colourful butterfly due to its proximity to MRTS and IT hub.

DEVELOPMENTAL ACTIVITIES IN AND AROUND MADIPAKKAM

Rs.52 crore Drainage & Water Supply project awaiting implementation by

Ullagaram Puzhuthivakkam Municipality will cater to the increasing number of houses. 

The Inner Ring Road connecting GST Road is in progress.

MRTS inaugurated on 19 11 07

Upcoming Shopping malls in the vicinity. Reliance Fresh have already steered  themselves  into Madipakkam eyeing its near-future growth.

Those working around IT hub are willing to stay at Madipakkam as they are finding it easy to commute from here to their work place.  Yes, this means high rental income from your property.

And more……

The fact that land is becoming scarce in Madipakkam is driving prudent buyers to act fast to grab a flat in this area. 

Early birds get what they want

Those who tap late get what is left.