Potential for land investments beyond Chennai booming: G Square Group MD Bala Ramajayam
In a fireside chat on 'Navigating the future of real estate in Tamil Nadu' moderated by Sangeetha Kandavel, Senior Assistant Editor of The Hindu, Mr. Ramajayam underlined on the growing demand for land investments not only in Chennai and in Tier-II, Tier –III cities and smaller towns. Noting that there was a vast untapped market potential beyond the metros, he said more players must step in to offer residential plots as people are drawn to such land investments.
G Square Group ventured into residential land investments after the COVID-19 pandemic. While initially investors were apprehensive to purchase plots in the city instead of apartments, people are now encouraged by land value appreciation by 70%, he said.
On a question on potentials in Tier-II and Tier-III cities, Mr. Ramajayam said there is a growing demand in other cities. Coimbatore ranks next to Chennai as a major hub for land deals and G Square sealed business worth ₹1,000 crore last year. The demand is steadily rising in Madurai and Tiruchi too. 'If we assure investors about land value appreciation, the volume of land investment businesses will witness a steady growth,' he said.
Responding to a question on trends in attracting youngsters into land investments, he said the G Square Group had found that 80% of the buyers belong to the age group of 35-45 years whose life dream is to own a house.
He also highlighted that Tamil Nadu has better infrastructure than other States. 'We are also collaborating with builders particularly small developers to develop our layouts into residential buildings, IT parks and malls,' Mr. Ramajayam added.
On criteria for choosing lands for development, he said existing housing in the neighbourhood and road connectivity are some of the key factors considered.
The event is presented by Casagrand and co-presented by G Square. The green energy partner for the event is Swelect and the sports ecosystem partners are SDAT and Tamil Nadu Champions Foundation. The event is supported by CREDAI Tamil Nadu, Lancor, Namma Family Group. The strategic partner is MMA (Madras Management Association). The TV partner is Puthiya Thalaimurai and the digital partner is The Federal.
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