Real Estate market set to boom in Chennai

Real estate market is set to boom in Chennai with 20,000 homes expected to be delivered this year, according to national secretary of the Confederation of Real Estate Developers Associations of India (CREDAI) ,T Chittibabu. After inaugurating Budget Home 2011, organised by Eyeball media, he said till last year 12,000 to 13,000 units were delivered but this year we expect 30 to 40 per cent growth. He expected the demand for homes to soar in OMR in south Chennai, which has the closest accessibility to city through the road network besides Grand Southern Trunk Road and Oragadam on Bangalore Highway. He said the real estate developers seek government support in infrastructure and faster approvals for the building plans. He also sought the government to curb the rising prices of  cement, sand and bulk materials. “The government should regulate the illegal sale of sand to other states as this could control the prices,” he added. The event will showcase several real estate developers who present properties in various segments from apartments, row houses, lifestyle residential properties, villas to residential plots within Chennai, its suburbs and a few other cities in Coimbatore and Tiruchy. source: http://expressbuzz.com/finance/real-estate-market-set-to-boom-in-chennai/278609.html