In Chennai, real
estate field has emerged as a hot investment destination. This let banks to
rush to offer funds for commercial and residential real estate though there is
a slow growth and inventory pileup. Today, in Chennai alone, there are around
more than 100 mega-township projects. In the year 2013-14, almost all 100
projects came for bank funding for about Rs.250 Crore. The bank sanctions a
huge amount of loan thus topping the chart for most builder’s since
construction of mega-raised projects consumes huge amount of money. By the end
of August 2013, banks funding for commercial real estate has rose up to 19%
that is to almost Rs. 5000 Crore. This is higher when compared to August 2012.
Both bankers and
real estate consultants, play down the concerns. Several safeguards have been
implemented by Reserve Bank of India in order to give safety and security for
banks against funding. In spite of this, real estate is the only sector that
offers people the opportunity to earn a higher amount than other sectors like
Telecom, Pharma and lots more. Generally, bankers believe that funding real
estate is not as risky as it is taught to be. In general, the funding
requirement for the real estate project will be around 10% of the project cost
and the builder’s takes around 5 to 7 years to repay the entire amount. In
addition to this, real estate developments not only plays a huge role in the
infrastructural growth of the city but also helps in the growth of steel and
cement manufacturing companies and also provides a huge number of employment
opportunity.
Funding from
banks plays a crucial role when it comes to real estate market. This is because
there are many projects which have stopped their construction in between due to
inadequate funds and other problems. But this will not happen in case of
Amarprakash projects including The Royal castle Thirumudivakkam, Temple Waves and
many more projects as all their projects are in high demand among people so it
gets sold off sooner when the projects are launched. So there are no chances
for Amarprakash projects to get stopped in between due to lack of fund or any
other thing. The projects of Amarprakash including The Royal Castle
Thirumudivakkam are not only constructed in prime area but are also cost-effective
with modern facilities. Another great benefit of owning a home in Amarprakash
is that the builder hand-over the keys on-time to their customers. This helps
people to take on possession on-time without any delay. So, people can lead a
problem-free lifestyle in Amarprakash projects of The Royal Castle
Thirumudivakkam.
