5 places around chennai that you should consider for investing in real estate?and why
TRANSCRIPT
5 Places around Chennai that you should consider for investing in
real estate and why ?
Why Prefer Chennai for Investment?
This popular ‘Port city’s real estate’ market has been influenced by several positive
development factors. Being south India’s largest ‘Automotive manufacturing hub’,
Chennai has been among the preferred spots for investments for investments for
factory space by companies like Hyundai, Renault, Ford, Maruti, Mahindra, and
Nissan.
It has also received attention from several major industries including information
technology and telecom. Enhanced employment opportunities has led to infiltration
of large multi-national companies in this area.
The Chennai Metropolitan Development Authority (CMDA) is enthusiastically
planning to expand Chennai city limits. The first expansion strategy covers an area of
+4000sq. km, which will embrace Gummidipundi and Uthukottai taluks from the
North. This strategy also states, inclusion of Sriperumbudur from the West and
Chengalpattu from the South. The second plan assists the area cornering +8,000 sq.
km and plans to extend the borders in the West whereby claiming Kanchipuram and
Uttiramerur taluks. Whether you are planning to invest or not in property, knowing
about real estate policies and programs and development stakes in and around one’s
city is imperative. Illegal construction and non-definable paperwork can pose as a
threat to your city and your locality too. Being alert is always good.
Where in Chennai could you invest?
Chennai, capital city of Tamil Nadu remains the fourth largest Metropolitan City in
India. Metro lines, largest manufacturing brands, excellent infrastructure, port city
benefits, handicrafts and agricultural produce under city limits – that’s what Chennai
offers. Chennai is an environmentally stable, economically progressive, and
technologically sustainable city that is seeing advancement and progress year on year.
He fast growing residential properties developers in Chennai would test an investor’s
risk appetite. Short to mid-term investing at Anna Nagar, Velachery, Adyar, Boat club,
Poes Garden, ECR and Nungambakkam have been known to reward property owners.
Many projects which are under construction have been sold out within stipulated
time lines. For long term developers who target end users looking for rental yields
find the area that stretches boundaries near OMR and GST, to be preferred locations.
Top 5 Areas That Have Tremendous Potential
1. Old Mahabalipuram Road (OMR) and Surrounding Areas
An IT/ ITES oriented site, linked to Educational institutions via the express way
(good transportation), health care centers and other amenities and facilities. This
neighborhood offers a habitat along with facilities.
2. (ECR) East Coast Road
Perfect beaches – that makes the ECR most preferred developing locations in
Chennai. The prosperous infrastructure and luxurious amenities at upcoming projects
at ECR are attracting prospective real estate and property investors. Several
independent houses and plush premium flats are being constructed.
3. GST - Velachery and Medavakkam
GST SEZ corridor, Velachery, Madipakkam, and Pallikaranai have enticed small
and medium sized developments and major real estate players of Chennai are
experimenting investing in this area. Vigorous rental demand and closeness to the
phase I and II of OMR IT hubs, drive demand in these locations.
4. Guduvancheri
Affordable property values in this locality, qualify Guduvancheri as the next
available residential complex within Chennai. A lot of small and big plotted
developments have been attracting a crowd of investors each passing month.
5. Oragadam
Strategic location of Oragadam between NH-4 and NH-45 has lured several
automobile and Tech companies to open doors. Several reputed builders have
initiated many acclaimed projects in in this place.
Arumbakkam, Poonamalle, Alandur, CMBT, Ekkattuthangal and Ashok Nagar are
other areas in Chennai that have received special attention. Upcoming trend for
realty investments in Land in Chennai has positively affected demand for townships
and apartment complexes across various price segments in most parts of the city.
Numerous banks have come up with home loan schemes that are offering less interest
rates in addition to EMI (Equal Monthly Investment) for the buyers in Chennai.
Recent changes that were approved in the most awaited Real Estate Regulatory Bill
stated that the developers and builders should be more transparent and accountable
for the property in supply. The bill alerts all homeowners to be fully aware of their
rights and only invest in real estate, when approvals are in place. ‘Invest safe’,
stability in capital values is assured when the right supply hits the right amount of
demand for long term projects. Improved city planning, excellent financial support
and lowland rate at some places make Chennai an ideal investment for the future.
Wisdom Housing & Properties Pvt Ltd.
No.1, 5th Cross Street, New colony, Chrompet,Chennai - 600 044, Tamilnadu,
India.
91- 44 - 22384571, 22380014
91- 9962928725
91- 93607-93607
Email : [email protected]
Sales Enquiry : [email protected]
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