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Chennai Property: The Stumbling Blocks
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Chennai is touted as the major industrial city of South India. The realty market in this capital city of Tamil Nadu is progressing nicely. Given that it has all the potential to develop as a hot-spot of real estate, it is expected to join other elite property markets like Bangalore and Pune. But there are several encumbering factors that are putting dampers to the spirits of buyers of properties in Chennai like Apartments in Madipakkam. These manacles in the legs of Chennai properties like Madipakkam properties are preventing it from treading a smooth path.
Lets look at some major points that are acting as dampeners for prospects of properties in Chennai like apartments in Madipakkam:
Lack of Infrastructure: Though this industrial town has several small-scale industries, there is a dearth of multinational companies and large unit firms. This is one of the reasons that contributes to the lack of interest in buying properties Chennai like Madipakkam properties. The absence of infrastructure in terms of global offices, and fancy malls drift the buyers from making a purchase here. Although many industries are present in the city but they are not enough to push the prospects of Chennai properties.
Lack of Civic Amenities: Several builders have come up with lucrative housing projects in the city to romp in top-class investors, yet the city suffers from inadequate civic amenities like water and electricity. Those who have already purchased properties Chennai are now lamenting of their decisions. The city also suffers from any solid-waste management system. With such a bad state of things, it is hard to conceive is a metropolitan city of India.
Language Problem: Another drawback that the Chennai properties is facing is that people are not wlling to make an investment here due to language problems. Although the city houses many migrants but not many people are keen to buy properties Chennai as they face language problem and feel alienated in the city. So, the buyers do not seem too keen to invest their money at such a place.
Below Par Connectivity: Though the city has good bus connectivity but there are severe congestion problems. The Chennai roads sees huge traffic daily, thus making the commutation a big problem. The present metro network is not efficient and there is a dire need for its expansion to other areas.
Unless these hampering factors are not worked upon, the properties in Chennai can't flourish well.
Makaan.com is a property portal where you can search Chennai properties, office spaces, apartments, warehouses, bungalows, and plots for residential and commercial purposes.
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