Our Company M/S Fair deal Homes (Pvt) Ltd., was incorporated in the year 2005.
Shelter is the basis need for man. Our country, the second largest in population is to meet the growing need for shelters for all. There is a vast gap between the requirement of housing and the supply. The requirement of housing is estimated at 30 million units. Our government has planned to provide housing for all at least by next decade. To encourage housing development, the government through the National Development Bank, who is the Apex body for refinancing to the housing loan provided by the banks and financial institutions, has reduced the lending rates for housing loan
In Chennai, the demand is more for housing. During the past five years, the construction activities are more in South Chennai. This is because there is no scope for further expansion on the Northern and the Western sides of Chennai. The recent development in the I.T. Industry in the Old Mahabalipuram Road (OMR) is also one of the reasons for the development of south Chennai. The IT corridor, the industrial development in between Tambaram and Chenglepet, the Mahendra City, near Chenglepet, clearly shows that Chennai city is moving towards south and the day is not so far that south Chennai will become greater Chennai.
Chennai Property Values: The Chennai property market has undergone a sea change on the commercial front. From an important manufacturing and automotive center, Chennai has now become the most sought-after location for information technology (IT) and software related activities. After the rental and capital values came under pressure during the 2004-05 the values in Chennai have also firmed up.
Selection of location for Development: Of all the major cities in India, Chennai is fast turning out to be the destination for many Indian and multinational IT companies and BPOs. Most companies have a work force running into hundreds with a huge demand for residential locations close to the workplace. In terms of infrastructure, Chennai is one of the most well established cities, with more than 80% of real estate activities accounted for by IT related business.
The Government has also facilitated IT highways and renewed the old Mahabalipuram road into the international standard 6 way express highway, making it a popular IT corridor. This has led to a boom in the real estate prices, with land prices been doubled and even tripled in these areas. Already MRTS finished upto Velachery, further this will be extended upto St.Thomas Mount, work in progress. Real estate prices around city suburbs have also considerably increased.
Now METRO Rail project work under progress in the Chennai city. Number of Malls also increased. And Multiplex theaters, Star Hotels are coming in large in near future.