The report offers a thorough overview of the revised service tax and its implications for consumers, along with insights into the changes in TDS and the existing landscape of External Commercial Borrowing (ECB), particularly emphasizing the Chennai Realty Market.
Key Takeaways from the Report:
– Chennai currently holds the leading position in terms of construction activity, capturing a significant 68% of the total units being developed in the city, with the western region following at 27%.
– The city is projected to experience the introduction of approximately 67,500 residential units over the next three years, promising a substantial shift in housing availability.
– In 2011, the most considerable price appreciation occurred in the central zones of Chennai, ranging from approximately 10% to 18%.
– A United Nations study indicates that Chennai is facing a shortfall of around 60,000 housing units, with breakdowns of 6,000 units in the high-income group, 12,000 in the middle-income category, and 18,000 units targeted at low-income households.