Residential property in Chennai

Residential property in Chennai has seen a good demand over the last couple of years and is also known to be one of the most preferred cities for realty investment in India as well as abroad. So, it doesn't come as a surprise to see a wave of positive buyers' sentiments flowing. Potential home buyers and property seekers are now showcasing a keen interest to invest in property in Chennai especially for high ROI (Return on Investment). The appreciating capital values of homes are luring many local and national real estate developers to construct state of the art residential projects.

The steady housing demand has resulted in creation of many active residential areas. Recent reports suggest that regions along the western side of the city have recorded a high absorption rate. With the affordable segment selling more inventories, builders are now creating an array of homes that meet the needs and demands of MIG (Middle Income Group) individuals. Peripherals along the East Coast Road, OMR and Poonamallee are sprouting rapidly with construction activities. Factors like robust infrastructure and the growing IT (Information and Technology) sector have invited many white collared professionals to invest in smaller apartments in Chennai. Property in Chennai is witnessing increasingly great demand with each day passing.

With infrastructure being a major element that is roping in a lot of investment, the city has many projects in the pipeline. The Chennai Metro and Mono Rail and the proposed ORR (Outer Ring Road) on National Highway 4 have brought the city on the global map. Renowned real estate developers are now purchasing land in large parcels along these projects only to build extraordinary living spaces. They are now wooing potential home buyers by offering generous living spaces at relatively economical prices. Residential property in Chennai is also mushrooming because of the presence of many blue chip companies, acclaimed educational institutes and excellent medical facilities within the city limits.

Neighbourhoods like Oragadam, Ambattur and Sriperumbdur have witnessed significant escalation in the past few years. Property investments is expected to fetch higher returns in future.

The state of the art residential projects launched by Grade A builders and developers backed with luxurious amenities are also offering attractive payment plans, lucrative cash back offers and many more.

Apart from being an ideal investment destination, the city fast transforming into becoming a rental hub. The growing IT sector has attracted a fair share of the floating population and migrants are now showing keen interest in renting out spaces close to their office spaces. Investors and second time home buyers are now tapping into this demand and are purchasing properties only to rent them out on a later date. All these practices are creating provisions for more residential units. People are looking forward to grab the opportunity to invest in properties in Chennai as they not only promise high return on investment but also generate high rental returns. This makes the market a hit amongst many investors and property seekers.

Property in Chennai invites for great investment opportunities

Chennai, located on the south–eastern coast of India, appears as an attractive real estate investment destination in South India. This report captures the highlights of the real estate market of the city targeting, the reasons, ''Why should you buy property in Chennai?" The city is also known to be one of the top 12 upcoming destinations for luxury real estate. Huge FDI investment in the resilient real estate market has been the quoted reason to improve Chennai’s visibility in the international investor community.

If you are wondering about the right time to invest, this would be it. Here are the top reasons:

According to a recent study, Chennai is one of the top real estate destinations in the world. It is already a magnet to Ultra High Networth Individuals in the region and is therefore already a recognized and fashionable enclave. There are several infrastructure projects that are at different stages of construction and planning that will impact the citizens and the property market. These include Chennai Metro Rail, Chennai Mass Rapid Transit System, underground drainage, bus terminus, interlinking of CMRL, MTRS & sub-urban rail network and outer ring roads. A slew of development plans indicates the bright future of the city and increases the demand of property in Chennai.

The peripheral road connecting Mahabalipuram to the Chennai port is envisaged to have a positive impact on various residential pockets of the city. The elevated expressway which is going to be built along the GST will resolve traffic woes and decongest traffic. The Old Mahaballipuram Road (OMR) invites a slew of residential projects in Chennai catering the needs of all kind of buyers, mid segment as well as the premium segments. Its offers close proximity to Sholinganallur , Thoraipakkam , Velacherry  and Elcot SEZs  makes investment in OMR Chennai profitable.

From an investment point of view, prices of property in Chennai are more affordable.  Other metropolitans such as Mumbai and Kolkata are comparatively expensive. This increases the attractiveness of the city thus driving the real estate market in the city. A number of reputed builders have shifted their focus to this city and are coming up promising Residential projects in Chennai that offers high class lifestyle to its residents with state of the art infrastructure and world class amenities.

Chennai hosts a number of IT firms, blue chip companies and multinational corporations. Many reputed companies are also planning to enter into the space with an intention to set up their bases in Chennai.  A good number of people come here in search of good job offers and better career opportunities. The city also boats of an excellent social infrastructure with a number of good hospitals, acclaimed institutes and colleges, schools and many more. Plethora of malls, clubs, restaurants are also available for fun and entertainment avenues that also adds to the lifestyle quotient of the city.