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Chennai is a fast growing metropolitan city, which is welcoming and sharing space with IT /ITES companies. The revolution of IT companies is paving the way for booming real estate. Another reason for demand is the inclusion of Pallikaranai under the... Chennai Metropolitan in 2011. Pallikaranai has emerged as India's 11th largest destination for investment in the residential real estate, and the prices are anticipated to increase by 93% over the period 2012-2017. There are various factors that contribute towards the Pallikaranai’s flourishing real estate: It comes under the Chennai Metropolitan Development Authority (CMDA) domain. Ongoing infrastructure projects, like the metro rail, monorail and outer ring road will improve the connectivity to the city. Lastly, Pallikaranai has very good connectivity to South Tamil Nadu via Tambaram. The real estate has appreciated by over 20% in last two years. The ROI (Return on Investment) has witnessed an increase of 5 to 12% q-o-q.
Average apartment prices in this locality range from Rs. 4,000/- to 4,700/- per sq. ft. Average land prices are Rs.3,500/- to 6, 500 per sq. ft. The growth rate in this area is 10 %. Major builders in this area include: Appaswamy Builders, KGS Developers.
Stamp Duty is 7%, Registration Fees is 1%.
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