Chennai’s residential market transforming: JLL
A recent report by Jones Lang LaSalle predicts that the residential market in Chennai is to undergo a transformation in coming months.
So far there has been no scope for the growth of large-sized township projects within Chennai. Developers had been more content with building 12-30 units with limited amenities.
The scene is changing with a string of township projects by developers of national stature under execution and nearing completion. These township projects have facilities like schools within the campus, big club houses, health club facilities for both indoor and outdoor sports, multiplexes in the vicinity, health care, restaurants and large swimming pools.
Moreover, they are built in minimal plot coverage, which paves the way for large green cover.
The report mentions that Chennai’s residential market is witnessing considerable demand in the affordable segment – specifically for units in the price range of Rs 35-60 lakh, which paves the demand for these projects.
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