Known as the “Detroit of South Asia “for its Automobile industry, Chennai is also the biggest cultural, economic and educational center in Southern India. After Mumbai and Delhi, Chennai has the largest population in India. Chennai is a host for all major industrial sectors such as the automobile, hardware manufacturing, computer technologies, and healthcare. Companies such as Hyundai, Renault, Nissan Motors, Ashok Leyland, Ford, and BMW have their respective plants in the city. Chennai serves as a base for many national banks.
Thus, Chennai being the hub for major industries has opened its gates for real estate activities with fast developing infrastructure. Real Estate buyers are swarming to Chennai for investment opportunities esp. in the residential real estate for long term profits. According to Sulekha Properties, a leading real estate portal, purchasing a residential property in Chennai can offer many benefits in the long term as the current prices in the city are down when compared to its peer cities like Pune or Bangalore. In contrast, Chennai as a city provides an improved standard of living with well-equipped hospitals, educational institutes, shopping malls and theatres, transportation facilities along with varied job opportunities for the educated. With the well-settled environment and affordable prices for real estate, the city and its populace are the biggest benefactors. The low price rates in properties can be the best opportunity for a buyer to invest in expensive properties as the real estate agents are offering affordable price schemes.
One of the best benefits of investing in residential projects is that they come with a choice. There are many projects waiting to be sold in numerous areas. Along with the choice of location, there comes the choice of what type of residential property a buyer wants such as Townships, row houses, apartments, penthouses, bungalows or villas. Investment in apartments is more popular among the residential buyers. These apartments are available in the form of 1, 2, 3, 4 and 5 BHK apartments with great ambiance.
Investment in the residential project in Chennai can ensure a promising future. The property prices of Chennai are bound to pick up as investments in Auto and IT sector is expected to increase manifold, creating job opportunities and thus the demand for living spaces. The growing demand for living space will always keep the property prices ticking and owning a property can ensure monthly income in the form of rentals monthly.
On Sulekha Properties there are various areas trending with maximum, minimum and average sq ft. Poes Garden with Rs 22,000 per square feet of land is leading the charts. A 1070 Sqft plot is on sale for 16.05 lakhs in Vandalur area of Chennai while 1200 Sqft of the residential plot is going for 33.60 lakhs in Navalur. A 3 BHK apartment flat with the built up area of 1808 Sqft is for sale for Rs 2.30 crores in Annasalai area whereas a plot of 900 Sq ft in the outskirts can be bought for around Rs 9 lakhs. Whatever may be your choice, investments in residential real estate in Chennai is something to bet your money on!