Emerging from a crash in the aftermath of a global economic slowdown in 2008, Chennai’s reality market has picked up by 20 per cent, a former national president of the Builders’ Association of India (BAI) has revealed.
“But, the real estate market growth in Chennai is more in the South, when compared with the other parts of the city,” Radhakrishnan, former all-India president of BAI, said at a press conference here on Thursday.
“Old Mahabalipuram Road, East Coast Road and GST Road in the South of Chennai are happening places, as far as the city is concerned,” he added.
He also observed that Chennaiites preferred 2BHK flats. Citing the demand for proposed flats in the posh Boat Club locality, which is fixed at `35,000 per sq.feet, he said, “We are witnessing anywhere between 30 and 40 per cent of bookings on announcement of projects,” he added.