The Chennai Real Estate market has been high in the last three quarters. Due to the price increase in the service taxes from 10.3% to 12% recent budget will have its impact on pricing. The increase in remove duty across the product categories has led to an increase in the initial input cost, directly impacting the selling price in the market.

The good news, amidst the false impact of the tax hike is that reasonable housing has found its takers due to the increase in the number of people searching for homes in the nearest segment and the National Housing Board (NHB) in-turn addressing the consumer challenges by advertising the housing segment. The National Housing Board has chosen 5500 crores to promote good house that has lowered the tax rates for homes that come under the affordable housing slot.

The real-estate market in Chennai are looking up with top MNCs, setting up operations in Chennai. Buying a Apartments, Independent House/Villa, Land / Plot, and Commercial properties in Chennai can increase the property value in future. Since lot of firms in IT and BPO sectors are choosing Chennai property for their operations, this leads to greater demand for commercial property. Other Hand Focusing on improvement of public mode of transportation has been one of the major highlights in Chennai. This is evident from the increase of the existing highways, work on Chennai Metro and major Approval of three new bridges connecting OMR and ECR at Palavakkam, Kottivakkam and Neelankarai is expected to impact the capital values.