In the past,property market in Chennai has been largely driven by the It/ITes industries. Now, there looks a wave of modification with the manufacturing industries that are set for a revitalization and predicted to influence the Chennai property sector. With improving relationship between the central and state government, there has been a push made in the manufacturing segment, the information is furnished in Amarprakash builders reviews.Both governments appear to be much concentrated on this segment to drive the Indian economy further. With the increase in sentiments, locations close to the manufacturing parks in and around Chennai appear to be a prime destination. This, in turn, has wedged the Chennai residential property sector.  

As per the recent Housing Sentiment Index (HSI), consumers along the manufacturing industries are more positive about the Chennai property sector as nowadays IT sector started to show negative sentiment. Adding to this, some magazine additionally indicated revitalization within this sector with a growth percentage of 30% in the period of Jan-Aug 2014.The industrial production within the nation has been on an all-time high over the past 3 months.Also in the last quarter, the port activities has been revised in different areas of the nation indicating a sturdy production in the industrial sector. As Chennai is one among the most important hubs with a contribution of 45% activity in the nation, the positivity is evident in the metro. During the budget year 2014, two industrial corridors (Chennai-Bangalore and Chennai-Vizag) have been proclaimed which will be providing connection to the metro.

In the previous year, IT driven locations such as Old Mahabalipuram Road (OMR) and its surrounding areas where the areas considered as realty hubs and attracted huge number of developments and increased the demand. Now, the situation is vice-versa that means manufacturing sector overtook the IT sector by creating a lot of job opportunities after the government’s announcement. This would raise the housing demand and clients working in this sector are registering their enquiries as compared to the IT segment. Areas around these hubs are predicted to see a boom through the way of high selling residential buildings. Locals living close to these hubs are also looking forward for betterment in terms of improved social infrastructure and developments. Oragadam, Sriperumbdur and Ambattur are some areas that are likely impact by this. It still has to be noted that which locations will finally emerge as a residential counterparts to OMR. The real estate in the city confirmed that it is not solely dependent on the IT sector.

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