Demand Of affordable housing budget apartments In Chennai

Bangalore: Chennai-based developers are in buoyant state due to the increasing demand for budget housing. Moreover, if this demand proves beneficial of newly launched residential projects absorption within scheduled time then developers have to think carefully about other factors like location, property pricing and product mix to sell their volumes faster in future, reports MagicBricks.com.

Some of the much awaited projects in Chennai are receiving good response from potential home buyers. For instance, Akshaya's project TODAY on Old Mahabalipuram Road which is an IT corridor in Thaiyaur witnessing healthy response from investors all over the city. The project TODAY spans over 1 million square feet of area including 1021 residential units which had combined net revenue of around 360 crore at 2850 per square feet for each unit.

Another example, Dugar Housing has come up with 1 bedroom and 3 bedroom apartment units in Ambattur under a price bracket of 3450 per square feet. According to industry experts, major factors that are driving the project demand include location, amenities and project pricing.

When it comes to villa segment, developers are focusing on key factors like location, pricing and product. Villa projects launched by Casa Grande quoted price Between 1.05 crore-1.6 crore. Despite the project is strategically located on Thalambur main road and Sholinganallur junction, apartment units of 4BHK were given price quote under build up area of 2325 square feet. According to industry sources, irrespective of the property pricing, if the project is located in good location, immediate response comes from home buyers.

With the launching of new projects and unbeaten marketing strategy, developers are now concentrating on how to modify their future strategy while presenting the product-mix in the market.

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