{"id":2627,"date":"2021-08-14T14:14:37","date_gmt":"2021-08-14T14:14:37","guid":{"rendered":"https:\/\/www.propertypistol.com\/blog\/?p=2627"},"modified":"2021-08-15T16:28:17","modified_gmt":"2021-08-15T16:28:17","slug":"infra-development-boosts-demand-in-chennai-bengaluru","status":"publish","type":"post","link":"https:\/\/www.propertypistol.com\/blog\/infra-development-boosts-demand-in-chennai-bengaluru\/","title":{"rendered":"Infra development boosts demand in Chennai, Bengaluru"},"content":{"rendered":"\n<p><em>In recent infra development news, South India micro <a href=\"https:\/\/propertypistol.com\/\">real estate <\/a>markets are eyeing growth due to the boost in demand. Lower interest rates, <a href=\"https:\/\/www.propertypistol.com\/blog\/multiple-state-government-cuts-stamp-duty-to-promote-affordable-housing\/\">waiver of stamp duty<\/a>, reduction in GST, flexible payment methods, enhanced buyer protection, and similar other benefits introduced last year are still helping in 2021. <\/em><\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The demand has particularly been increasing in <a href=\"https:\/\/www.propertypistol.com\/blog\/bangalore-real-estate-market-outlook-2021\/\">Bengaluru<\/a> and Chennai for residential infra development.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_69 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.propertypistol.com\/blog\/infra-development-boosts-demand-in-chennai-bengaluru\/#What_is_driving_the_Real_Estate_market_boost\" title=\"What is driving the Real Estate market boost?\">What is driving the Real Estate market boost?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.propertypistol.com\/blog\/infra-development-boosts-demand-in-chennai-bengaluru\/#What_do_the_numbers_say\" title=\"What do the numbers say?\">What do the numbers say?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.propertypistol.com\/blog\/infra-development-boosts-demand-in-chennai-bengaluru\/#Infra_developments_undergoing_in_Chennai_and_Bengaluru\" title=\"Infra developments undergoing in Chennai and Bengaluru\">Infra developments undergoing in Chennai and Bengaluru<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.propertypistol.com\/blog\/infra-development-boosts-demand-in-chennai-bengaluru\/#The_road_ahead\" title=\"The road ahead\">The road ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_driving_the_Real_Estate_market_boost\"><\/span><strong>What is driving the Real Estate market boost?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Few factors are responsible for driving the demand even after the havoc caused by <a href=\"https:\/\/www.propertypistol.com\/blog\/rwa-to-setup-covid-centers-in-bengaluru-and-gurugram-propertypistol-blog\/\">COVID-19<\/a> since March 2020. Change in the working landscape enforced by the pandemic to work from home is a significant contributing factor to boosting the <a href=\"https:\/\/www.propertypistol.com\/blog\/credai-gear-up-for-pushing-the-envelope-in-the-real-estate-market\/\">real estate<\/a> market, especially in Chennai and Bengaluru.\u00a0<\/p>\n\n\n\n<p>Besides, both the cities are also witnessing increased industrial and IT infrastructure growth, which is generally ideal for a mid-housing segment. It is expected that both Chennai and Bengaluru may witness a significant increase in residential real estate demand in the upcoming years. The traction is expected to be enjoyed by both middle and upper-middle housing segment markets.<\/p>\n\n\n\n<p>Another major factor of this demand boost is the construction of the Chennai-Bengaluru Industrial Corridor (CBIC), which is being constructed as a joint venture of Indian and Japan.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_do_the_numbers_say\"><\/span><strong>What do the numbers say?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>East Bengaluru was a top performer in 2020 wherein it accounted for 40% of the residential housing sale. The micro-markets include Whitefield, Varthur, and KR Puram.&nbsp; However, North and South Bengaluru accounted for 30% and 25% of the sales respectively. Key micro-markets for North and South Bengaluru include Hennur, Yelahanka, Kanakapura Road, and Sarajapur Road respectively.<\/p>\n\n\n\n<p>In <a href=\"https:\/\/www.propertypistol.com\/blog\/decoding-the-future-outlook-of-reits-in-india\/\">Chennai<\/a>, middle to premium housing market segments in the South were amongst the top sale performers. Key micro-markets include Old Mahabalipuram Road, PTR Road, East Coast Road areas with places like Perungudi, Pallavaram, and Siruseri. The old market in Chennai West accounted for 31% of the residential real estate sales in 2020. The price in such markets has also risen significantly due to high demands.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Infra_developments_undergoing_in_Chennai_and_Bengaluru\"><\/span><strong>Infra developments undergoing in Chennai and Bengaluru<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>Major infra developments undergoing in Chennai and Bengaluru are:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Chennai-Bengaluru Industrial Corridor (CBIC)<\/li><li>Metro lines<\/li><li>Transit corridors in proximity to established corporate and social infra developments<\/li><li>Satellite Town Ring Road (STRR)<\/li><li>Peripheral Ring Road<\/li><li>Bengaluru-Mysore Industrial Corridor<\/li><li>New airport terminal at Kempegowda International Airport<\/li><li>Additional commercial airport at Parandur (Chennai)<\/li><\/ul>\n\n\n\n<p>All these infra developments currently in progress are expected to drive growth in large and small scale industries along with the real estate sector.&nbsp;<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_road_ahead\"><\/span><strong>The road ahead<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h5>\n\n\n\n<p>The COVID-19 pandemic has opened multiple micro-markets, especially in the real estate sector to serve customers. Besides, the long-term vision of CBIC to develop it at par with global standards will help create lakhs of additional jobs in Chennai, Bengaluru, and other places in vicinity of the corridor.<\/p>\n\n\n\n<p>Keeping infra developments aside, the new real estate micro-markets are still susceptible to adversities caused by the proceeding and succeeding COVID-19. The under-construction projects look like bright sunshine on a snowy morning for the real estate market.<\/p>\n\n\n\n<p>But not to forget, the housing demands are currently rising in Chennai and Bengaluru. If the trend continues with infra developments, we shall see a quick economic recovery.<\/p>\n\n\n\n<p style=\"font-size:12px\"><em><strong>Disclaimer:&nbsp;<\/strong>The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information<\/em>.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In recent infra development news, South India micro real estate markets are eyeing growth due to the boost in demand. Lower interest rates, waiver of stamp duty, reduction in GST, flexible payment methods, enhanced buyer protection, and similar other benefits introduced last year are still helping in 2021.<\/p>\n","protected":false},"author":2,"featured_media":2629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[80],"tags":[155],"class_list":["post-2627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infrastructure","tag-chennai","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Infra development boosts demand in Chennai and Bengaluru - PropertyPistol Blog<\/title>\n<meta name=\"description\" content=\"In recent infra development news, South India micro real estate markets (Chennai and Bangalore) are eyeing growth due to the boost in demand.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertypistol.com\/blog\/infra-development-boosts-demand-in-chennai-bengaluru\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Infra development boosts demand in Chennai and Bengaluru - 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