Property prices to remain stable for 2013
Posted on: 12/Jun/2013 11:07:06 AM
According to a report prepared by ASK Property Investment Advisors of the ASK Group, Chennai’s real estate market will remain stable for the rest of the year. The report said that it is unlikely that prices will increase substantially and that there will not be a dip in demand and supply.
‘Chennai takes the highest amount of time to approve projects. In Chennai, many projects need dual approval from both Chennai Metropolitan Development Authority (CMDA) and Chennai Corporation which takes a lot of time. The process is also quite tedious. But the delay has been cut down considerably. Earlier it used to be as long as 18 months… (Affordable) projects (are) not as profitable as those catering
to high- and middle-income groups. There is more risk involved in affordable housing though there is a lot of demand for it’, said officials of the ASK Group.
