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.