Property prices to remain stable for 2013
Posted on: 12/Jun/2013 11:07:06 AM
According to a report prepared by ASK Property Investment Advisors of the ASK Group, Chennai�s real estate market will remain stable for the rest of the year. The report said that it is unlikely that prices will increase substantially and that there will not be a dip in demand and supply.
�Chennai takes the highest amount of time to approve projects. In Chennai, many projects need dual approval from both Chennai Metropolitan Development Authority (CMDA) and Chennai Corporation which takes a lot of time. The process is also quite tedious. But the delay has been cut down considerably. Earlier it used to be as long as 18 months� (Affordable) projects (are) not as profitable as those catering
to high- and middle-income groups. There is more risk involved in affordable housing though there is a lot of demand for it�, said officials of the ASK Group.
