Real estate investors might have seen a sudden change in the market in the past few weeks. Builders seem to be more confident about the appreciation and demand for their projects. The increasing number of Perumbakkam flats, OMR flats and many upcoming flats in Mannivakkam areas show that developing suburbs are the target for investment nowadays.
The buyers should know when to invest in a property as there are several clauses while investing in a highly discounted project. The government is also trying its best to favour the buyers by having a reduced interest rate and other provisions through which the benefits are gained by the buyers of property. With the RBI also coming down hard on faulty accounts — giving borrowers fresh advances to pay interest dues and keep their accounts current — it is only increasing the pressure.
If a significant increase in transaction volumes is not witnessed in the near future, and the tough regulatory stance continues, several builders will be left with little option but to drop prices. A rush to safety has been triggered by the recent stock market jitters. If asset prices globally start coming down due to developments in China and the contagion, it will be foolish to expect Indian asset values to remain insulated.
With the increase in employment opportunities in the city, the value and demand for the clustered residential pockets are still intact and the buyers can buy properties in area like Perumbakkam, Velachery and Mogappair with assured increase in value. Builders are moving to areas which were considered only industrial hubs as people want to invest and remain close to their work place and such investments always have certain amount of assured rental value.
