Chennai real estate a great investment opportunity
Chennai or formerly and popularly known as Madras is the capital city of Tamil Nadu. Chennai is the sixth largest city and fourth most populated urban centers in India. Chennai real estate has been an ideal choice for investment over the last two decades and the ROI has been fantastic for early investors.
Chennai is ranked in 43rd position for mostly visited by foreigners. It is also called as the ‘health capital of India’. The amazing city is a perfect mix of the classical and modern values, which can be seen and experienced in each and everything. Chennai is also fondly addressed as ‘the Detroit of India’ as it houses more than one-third of the country’s automobile industries.
Investing in real estate in the capital city of Tamil Nadu, CHENNAI is always profitable. The decision, however, involves a few considerations that have to be made before investing. Let us take a look at those points that have to be considered.
Top Reasons to consider to invest in Chennai
This is the first and foremost point that has to be considered. Irrespective of the hot, hotter and hottest climate that prevails around the year, the city will make you fall for its rustic charm and the ultra-modern facilities it has within its limit!
- Chennai has been ranked as one among top 12 cities in the world to invest in real estate. The city has some of the most prestigious and premier educational institutions like Guindy engineering college, Indian Institute of Technology (IIT Madras), Loyola College, University of Madras and so on which are known to be some of the oldest education institutions started in India.
- According to recent economic surveys, the market value in Chennai is on the constant increase and is also expected to increase by a decent percentage of 7 to 10% in the coming years, making it an ideal destination.
- Well connected roads, public transportation systems that link most of the city is another major reason.
- Another major reason is that in the recent years the property value in Chennai has not depreciated! Economists and experts have also claimed that there will not be any depreciation in land value in the coming years too.
- Chennai has been ranked as the safest by the FSI (female security index) when compared to other metros in India. Crime rates in general and also the crime against women are very low which makes it a safe option for investors.
- The city has the best medical facilities to offer. People globally travel to Chennai for medical treatments. Hospitals like Apollo, cancer institute are one of its kinds here.
Areas that have developed rapidly
Thanks to the IT industry which has instantly lifted the status of the entire city in a very short span! Based on the industrial development the areas surrounding them also developed at rapid speed.
- OMR(OLD MAHABALIPURAM ROAD)
- CHENGALPATTU( MAHINDRA CITY)
IT highway leads the way for development in Chennai
In the above list, the areas such as Siruseri, Mahindra city, OMR, Sholinganalur, Velachery, Thoraipakkam, and Porur have become popular because of the IT CORRIDORS that have established themselves here. Siruseri has definitely developed very fast as it has got the SIPCOT IT PARK (state industries promotion corporation of Tamil Nadu).
It is the largest cyber corridor of Tamil Nadu and The TATA CONSULTANCY SERVICES has constructed its biggest campus in Asia here. Inside the SIPCOT IT PARK alone a lot of popular names like L&T, KG earth, Appaswamy real estate, Hiranandani, Arihant have promoted flats.
The rate per square feet ranges between Rs 3,192 – Rs 4,954. The favourite or preferred locality vote majorly goes to Velachery and Madipakkam as its close proximity to the It hub and its reach to ECR and OMR. These localities have also the affordable property rates, good schools; all the basic amenities and most importantly, the return of investment in these areas are estimated to be higher than the others. Here the property price range is between Rs 5,644- 9,143 in Velachery and in Madipakkam it is between Rs 3,968- 5,793 per square feet.
Thoraipakkam is also a hot pick among the buyers as it is very close to the OMR. Lot of colleges, schools and The Chennai One IT PARK are the main attractions for the investors here. The properties in this locality are priced between Rs 5,105-8,146 per square feet. A locality such as Porur has also become more popular after the famous DLF IT Park was opened there. This brought loads of potential investors who wanted to settle in and around the Porur area.
The property is priced in the range of Rs 4,723- rs 7,490 per square feet. The AUTOMOBILE INDUSTRY has made areas such as Sriperumbudur and Chengalpattu attain great growth in the recent past. Popular giants like BMW, Nissan, Renault, and Ford have their factories in Oragadam and Maraimalai Nagar, Hyundai has its factory in Irungattukotai. The property pricing in Sriperumbdur is between Rs 3,063- Rs 4,231 per square feet, in Oragadam it is priced at Rs 2,987- Rs 4,431 per square feet and in Chengalpattu it is priced between Rs 3,409- Rs 4,199 per square feet.
In north Madras, Ambattur is the area that is eyed by people for investing. Residential areas like Anna Nagar and Mogappair makes Ambattur an ideal option. The property rates have gone up by twice the value in the last five years here. The price per square feet here is between Rs 3,951-5,961. This massive expansion in these localities has made this a newer version, which can rather be called an extension of Chennai.
Localities with best ROI in Chennai real estate
Areas surrounding IT hubs like
- MADIPAKKAM- property price ranges between Rs 3,968- 5,793
- VELACHERY- property price ranges between Rs 5,644- 9,143
- NANGANALLUR- property rate range between Rs 5,733-8,803
- AVADI- property price ranges between Rs 3,205-4,377
- AMBATTUR- property price ranges between Rs 3,951-5,961.
- SIRUSERI- property price ranges between Rs 3,192 – Rs 4,954
- OMR- property price ranges between Rs 3,495-5,713
- TAMBARAM – property price ranges between Rs 3,392-5,082
- ORAGADAM – property price ranges between Rs 2,987- 4,431
- MEDAVAKKAM- property price ranges between Rs 3,876-5,605
- PALLAVARAM- property price ranges between Rs 4,503-6,242
- PORUR – property price ranges between Rs 4,723- 7,490
- GST ROAD- property price ranges between Rs 3,291-4,992
All the above areas have been becoming popular hotspots for investment. These areas are neighbouring the IT corridors and are sure to see only an increase in land value and are not going to see a drop in price. All the areas are well connected by road and also by all means of public transport including the Metro rail.
Best hospitals, schools, and other entertainment amenities are available in ample here. To sum it up, Chennai is the right place for investing in real estate as the risk of land value decreasing is near to impossible. All these areas are vastly expanding and have ample scope for development. Look, choose and invest in the ‘SINGARA CHENNAI’ and be happy with your choice!!
”My name is Kruthiga Shankar, a homemaker and proud mom of two little kids also a freelance content writer looking to carve a space for myself in writing. i’m a big foodie who loves to cook and eat as well:) loves listening to music and a bookworm too!! loves to spend some alone time with coffee and book instead of watching a film! that’s in short about me. ”