Chennai Metro and real estate
It is a well- known fact that road connectivity is one of the major contributors to the real estate of any city. Metro, is one of the catalysts when it comes to fueling the real estate. Kolkata is the first city to host metro with Delhi being second, these two cities being successful have been a torchbearer for the other cities to follow the same path and introduce the state of the art transportation for their daily commuters as well. Alongside cities like Banglore(2011), Gurgaon(2013), and Mumbai(2014), Chennai and Jaipur inaugurated their first metro corridor in 2015. Due to the ease in commute and the time consumption according to the distance, metro is the frequently opted mode of transportation for daily commuters. Since the inception of the Chennai metro, Chennai real estate has seen significant growth for both commercial and residential properties. Areas that have metro closeby are the hotspot for commercial buildings, as it makes the commuting for the employees easier, but that doesn't mean that for residential purposes people are not taking that into enough consideration. The existence of the metro has also resulted in employment generation, that has also led to the demand for metro surrounding areas to rise. With the existing projects already been occupied by owning or renting, new projects are sprouting to suffice the growing demand which doesn't seem to subdue, which means the effect Chennai metro had on the real estate is has been a permanent one that, which the real estate business can encash for a long time.
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