Here is the OUTLOOK for Residential Property Market in Chennai, Hyderabad and Kolkata.
Chennai 2,800 7,000 [Rs /sft] Decent market depth with multiple industries and emerging pockets of IT/ITeS as an alternative to Bangalore. Tends to be driven by the broader economy and the IT sector. Prices have stabilized and are likely to inch up by 2H10.
Hyderabad - 2,700 6,000 [Rs /sft] Came into prominence in the last decade as an alternative to Bangalore. Tends to lag Bangalore by 3-6 months. Prices are likely to remain weak, if not stable and start inching up by 2H10.
Kolkata 2500-5000 [ Rs /sft] Came into prominence in the last 3-5 years as an emerging IT/ITeS hub in East India. Currently under pressure due to some state-specific issues. Prices are likely to remain under pressure and may stabilize by mid-2010.
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