COVID-19 IMPACT: CHENNAI REAL ESTATE MARKET AND WAY FORWARD

T Chitty Babu, chairman & CEO, Akshaya, on what one can expect in the future

- T Chitty Babu

The author is chairman & CEO, Akshaya.

Chennai real estate market despite the economic slowdown and CO-VID-19 pandemic has witnessed a rise in residential and commercial property sales. New project launches with focus on mid-income projects, gated communities have allowed the developers in the city to turn Chennai’s real estate into a growth sector for the state’s economy.

Owning a home for an individual has become a priority post-pandemic and it will help people in building for their future. Work-from-home has also pushed the developers to reboot the apartment designs. Developers are now replicating office designs at homes and tweaking the designs by providing basic infrastructure like electrical points, Wi-Fi connectivity, power backup, centralized air conditioning which was available in office spaces. Developers are looking at making an apartment self-sustainable and self-sufficient to cater to the needs and aspirations of the modern-day homebuyer.