The market sentiments have been augmented in the previous years. The transformations have also improved the transparency of the real estate business in the future. The year 2018 had been a mixer bag of fortunes for the Chennai real estate and Indian market in general. The revival in fortunes can be seen in the early part of 2019. The residential segment had seen a huge growth in previous year, especially because of the interest from NRI investors. In 2019, we expect more real estate projects to emerge, and Chennai being one of the promising cities in South India, will have major boom in the housing sector.

When it comes to places that are alluring investors, the following places top the list:

1.GST:

The social infrastructure of the Grand Southern Trunk road makes it one of the most sought out localities. The host of educational institutions, hospitals and medical care facilities, and food chains, make this a perfect choice for residential projects. The average of price in this place goes up to 4293 INR per square feet.

Apartment Price Trends In GST Road

GST Road - 2019 Real estate Chennai forecast

2.Velachery:

This is a planned residential community with enough space for commercial ventures. The new host of spaces for various commercial complexes make the locale around, which includes Madipakkam, Adampakkam and Palavakkam too a better locale to invest. The IT hubs in OMR are easily accessible from Velachery and the other surrounding areas. Siruseri and Shollinganallur, the booming places for IT sectors are too close, and this means people who look out for settlements that are established can find home here. The average price can go up to 5000 INR here.

Velachery - 2019 Real estate Chennai forecast

3.Adyar:

Unlike the options mentioned here, Adyar is a very promising locality that has options for the luxurious residential options. Being very proximal to Chennai IIT and the Rajiv Gandhi Express Highway makes it a proper place to get settled in the prime of the city, without losing access. The price of the residential options in Adyar have increased 12% recently, higher compared with most options. The price per square feet is seen as 19,045.

Adyar - 2019 Real estate Chennai forecast

4. Maraimalai Nagar:

The hub of industries and software companies make it a boon for the low budget buyers. The range of 50 to 60 lakhs is what the investors need for a 3 BHK apartment here. The cost per square feet residential properties is 3900 INR. With reputed educational institutions for schooling and graduation in the close proximity this is another choice the investors should consider.

5.OMR

One of the fast-emerging areas in Chennai, Old Mahabalipuram Road (OMR) is one of the most preferred areas to settle in Chennai. This neighborhood is dotted with a lot of residential projects and  IT Companies,making it the most sought-after location for property builders as well as potential home-buyers. Surrounded by reputed educational institutions, the price ranges from Rs.4,040 to 5,880 price per sqft. If you are looking for a residential locality to invest in, the amazing locality of Old Mahabalipuram Road ought to prime your list.

Click here to know the list of properties in this spectacular locality .

Velachery - 2019 Real estate Chennai forecast

6. Nungambakkam

                        India’s sixth largest metropolitan city, Nungambakkam is proliferated with spectacular educational institutions, shopping malls, amazing restaurants, important government offices, foreign consulates and cultural centers. Well connected by road and rail network , the price per sq ft at Nugambakkam ranges from Rs.11,266 to Rs 20,815 . Located in the centere of the city , this posh locality ought to top your list especially if you are a foodie . 😉

Click here to know the properties which are in Nugambakkam .

Nugambakkam - 2019 Real estate Chennai forecast

Chennai being the top 10 preferred destination for IT and BPO, this is the right time for you to start your research and to plan your investment.

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