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Real estate show for thriving Indian city

Clouds at Besant Nagar Beach
Creative Commons License photo credit: nimbu

One of India’s growing property investment hubs held a real estate market show over the weekend and featured over 10,000 new homes for sale.

Chennai Property Bazaar featured 100 developer projects with luxury apartments, villas, farm houses and budget accommodation all making an appearance.

The event was planned by MagicBricks.com and Homebay, and held at Mayor Ramanathan Chettiyar Hall in Chennai.

Property businesses who attended remained enthusiastic about the Indian homes industry, maintaining it had a long-term future.

Ramesh Nair, managing director, Jones Lang LaSalle Meghraj, said:

“The real estate market definitely has long-term underlying growth.

“Potential buyers need to realise that if one buys and holds for the long term one is not likely to lose. Real estate values generally go up in the long run, with very few exceptions.”

Around 5,000 home seekers and investors attended the event, with the likes of Emaar MGF, Jain Housing, and Rajparis all in attendance.

Chennai was given a further economic boost last week when it was announced the Ford India plant in the city will begin manufacturing petrol as well as diesel engines.

The move is part of a vast Ford investment in India, thought to stretch to $500 million and including a possible new small car aimed specifically at Indian drivers.

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