Chennai sources made a statement that with Chennaiites reveling about their beloved city, finding a top place among cheapest city in the world. Meanwhile experts in the field opined other ways that N. Chandramouli, CEO of TRA research said “The exodus of major industries from Tamilnadu owing to a political turmoil that the state has been facing for over a year is a major reason for the decline of demands. When demands go down, it will pull down the costs".
Moreover Chandramouli also added that when more outside populous settle in a city, the rents and other costs would increase. “Chennai has failed to attract new talents from outside". Further Chandramouli opined that the Chennai's culture of saving and the mindset of opting for low-cost products are also behind winning the tag “When consumers opting value for money, the products and services have to cater to it which brings the costs down".
Furthermore Chandramouli said that the cities like Singapore would
naturally feature in the list. He added “Singapore is a unique city and acts as
a bridge between east and west, and attracting more investments. The higher
amount of investments will increase the demands for products and services.
Subsequently, costs will also rise".
