CHENNAI With real estate residence

Chennai's current residential real estate scenario is considerably depressed. Developers who have projects along the once booming IT corridor are all set to reduce their rates by as much as 20 per cent.

However, the Mogappair-Porur composite region continues to hold mid-to-long term investment potential.

Drivers
1. This overall location is very close to the prime residential catchments of Anand Nagar and also to Chennai railway station and the bus terminus.
2. The fact that it is not near the IT corridor also increases its potential.
3. The rates here are competitive at Rs. 2800-3000 per sq ft.
4. The expected appreciation for residential properties here is between 20-30 per cent long term).