The Scope of Ready to Move-In Apartments in Chennai

Luxurious residential apartments in Chennai are a trend that has become an epidemic. The population of the city has a new standard of living and new-age industries have increased their income levels. And suddenly, investors have bigger affordability. The circle of employment and demand stops at the need for large and opulent homes that redefine their new standard of living. Today, yet another trend is defining Chennai realty market. Ready to move-in apartments are rapidly emerging as a smart and desired choice. Fast lifestyle and the need to execute diverse activities are driving this demand in a city like Chennai.

Why the Modern Day Investor Seeks Ready-to-Occupy Apartments?

Ready to move-in luxurious residential apartments in Chennai are a culmination of the activities of the modern real estate investor. Premium builders do not compromise on quality and style. As much as they are focused on the quality of construction, they are equally if not more concerned about the elements that obviously reflect the quality of construction. Therefore, furnishings and interiors are tastefully chosen even if at a price. And the modern day investor is willing to pay the price because it saves him a lot of time and effort or running around to get the work done.

Most luxurious residential apartments in Chennai have hence turned into ready to occupy havens of living that are holistic in every sense of the word. And so, as long as affordability levels observe an increasing trend; ready-to-occupy apartments will only be a growing demand.

Why is Coimbatore Considered as the Next Big Destination for Realty Growth?

When it comes to luxury, Coimbatore is no way lesser than a metropolitan city. Luxurious apartments for sale in Coimbatore are gradually making their foray into the city’s serene landscape. Once, reckoned as a retirement destination; Coimbatore is slowly changing its facade to accommodate modern industries, migrating population and a diverse lifestyle that is synonymous with metropolitan cities.  As the city progresses, realty growth has also been astounding. There are numerous mid-range and large scale projects that have inundated Coimbatore and builders from other parts of the country and also several countries of the world are making their impressions here today.

Luxurious apartments for sale in Coimbatore are emerging for a reason. There is not just one but several that substantiate their rapid development.

1. Land prices in Coimbatore are relatively more affordable than the metropolitan cities of the country. Hence, investors are looking at making early investments and reaping bigger profits.

2. Coimbatore has been synonymous with exceptional textile, education and medical amenities. Today, the region is attracting more new-age industries like IT and ITES. Wipro and CTS have shown the way and the rest are following pursuit.

3. Rapid industrialization signifies increased employment opportunities. Higher employment options mean rising population and rising population will demand housing. And when income levels get higher, property expectations get bigger. This is where luxurious apartments for sale in Coimbatore become significant.

Coimbatore is a progressive market. It is going to be the next big destination in terms of soaring realty development.

What locations of Chennai are identified as the best Choices for Real estate Investment?

Real estate in Chennai has been recognized as a lucrative phenomenon. Both commercial and residential realty in the city has been doing exceptionally well in the past decade and is projected to yield bigger returns in the years to come. Great infrastructural development activities and rapid industrialization have triggered and will sustain the colossal realty supply and demand Chennai is currently facing. But, there are some locations in the city that are expected to do better than the rest.

1. Velachery: Real estate in Chennai observes a difference w.r.t. the risk appetite of the investor and time span. If the investor is considering short to medium term gains, investing in places like Velachery, Anna Nagar, Adyar and Nungambakkam emerge as good choices.

2. OMR and GST: For medium to long term investment gains, OMR and GST are undoubtedly the preferred options. Moreover, rental yields are also getting higher here simply because people have begun to seek bigger properties and modern amenities that OMR apartments and villas can offer.

Beyond this, real estate in Chennai has never stopped growing. Micro-markets of Sriperumbudur and Oragadam are other lucrative options in real estate investment. These regions are laden with modern integrated townships and sprawling apartments that are no lesser than the properties found in the Central Business District of the city. The demand for housing in the listed areas is so high that most developers are able to sell their units while the property is still under construction. The scenario is only going to get bigger and better.

The Rental Property Scenario in Chennai

Properties to rent in Chennai will witness rising demand till employment opportunities continue to soar in the city. People who relocate to Chennai prefer rental properties for a variety of reasons. One of the most obvious of reasons is that rental properties are ideal when you do not want or find it difficult to make big investments. Rising prices of land and property in metros and places like Chennai contribute to the demand for rental real estate in the city. Considering the magnitude of progress IT/ITES, manufacturing, power, automotive, health and retail industries are making in Chennai, real estate in the city is only expected to burgeon rapidly. Rental options are growing by leaps and bounds and an increasing number of residents in Chennai seek them in different pockets of the city.

High Rental Pockets of Chennai

Real estate in Chennai is a flourishing industry. Commercial and residential real estate complement each other since they seem to be developing at a simultaneous pace. Identifying your choice of rental property is not a difficult task since Chennai has plenty of options to choose from. Chennai can be segregated into different pockets as per the directions. While Central Chennai that is the city’s Central Business District is undoubtedly the great revenue makers in terms of rental income; North and south Chennai are not too far behind. As a matter of fact the prospects here are increasing than ever before.

Real estate Investors Prefer Rental Properties

These are reasons why real estate investors of the city are not just purchasing homes to live but also investing in rental options. Rental income in certain areas is very lucrative and the property can also be sold off when it fetches a good price. Therefore rental properties are a double bonus. House searches in Chennai happen round the year due to steady creation of employment opportunities. Areas like ECR and OMR witness a new lease of life in terms of modern apartments and opulent villas. They are tastefully designed, closer to the IT/ITES corridor, has excellent connectivity with the city and more importantly rentals here are relatively lesser than that of Central and North Chennai. People working in and around this region and those who prefer a serene, Eco-friendly yet modern ambience can either invest in properties here or choose from the many rental options.

Ongoing projects in Chennai catering to the rental community are several and are also a growing number. As real estate in the city diversifies, infrastructural development is also developing gradually. Today, several infrastructural projects are reasons why people seek specific locations of Chennai. The Metro Rail project is one of the most expected ventures and properties for purchase and rentals in and around the areas where metro is expected to come up are witnessing visible improvement in prices.

Changes observed in Chennai’s Property Market

Residential apartments in Chennai are undergoing rapid transformation with every passing year or better still, every month. Chennai is marked by dramatic developments on all spectrum and is poised to demonstrate a lot of incredible potential in terms of progress over any other metropolitan city. The growth potential has attracted many domestic and international real estate builders to create their landmark residential and commercial properties in the city. While some pride in being the tallest structures, some others come with novel and one-of-a-kind invincible ideas for better living. Architectural beauty, technical acumen, creative competence and luxury blend in every creation to make the best home for customers.

Innovative Real Estate concepts in Chennai

Flats for sale in Chennai are growing in big numbers along the city’s arterial roads and regions like OMR, ECR, Sriperumbudur, Poonamallee, Porur, Medavakkam and GST Road are extremely popular with both investors and builders. Tall residential structures were always a part of Mumbai and Delhi until they began to make a peek in Chennai’s landscape as well. These residential structures are iconic by themselves since they are new in a city that has always been driven by conservative tastes in real estate. Today, the city has outdone in comparison with the other metros in terms of rapid industrialization and construction of innovative homes and commercial buildings.

Chennai for the first time has emerged with the concept of customized homes where customers can make their own choices. This is a very innovative and daring step in the world of real estate. Also, the number of green homes and Eco-friendly buildings are on the rise. The population has begun to understand the magnitude and need of Eco-friendly buildings and hence several real estate builders focus on construction of this kind. Landscaping has emerged as yet another need since most of the agricultural lands and vegetation has given way to the creation of properties. Therefore, homes, modern apartments and commercial buildings have good landscaping features making them environment friendly. All these go on to show the changes Chennai is gearing up for.

Rental Property Market of Chennai

The trend for properties to rent in Chennai has also undergone colossal changes. Chennai was once the land of first homes. But today, a large number of migrant population who have come to the city for better career prospects consider rental properties. This percentage is growing steadily in the recent times. The growth in numbers have attributed to construction of properties primarily for rental purposes. This has also become an ideal investment option since many real estate investors purchase properties and later give them out on rent. Not only are the rental prospects high but the property can further yield long term prospects as the region fetches great prices.

Is "To Buy or to Rent" a Lingering Question in Your Mind

Sound employment facilities, urbanization, flourishing economy and enhanced infrastructure usually form the determining factors when it comes to choosing a city to live in or operate a business from. City has over the years taken over the mantle of a flourishing economy and therefore the demand for living and working spaces has increased dramatically. Residential apartments have undergone rapid transformation from the more conventional and budget oriented spaces to luxurious and contemporary abodes. Despite a city's growth prospects, many buyers/investors are skeptical when it comes to purchasing or renting a property. They are most often undecided. There are several schools of thought that favor each of the cases but the eventual decision vests on each buyer.

Schools of Thoughts behind Real Estate Investment

Although, the dream of every resident or migrant in a city is to own a beautiful home; high prices, increasing home loan rates and other liabilities push him to consider rentals. He believes that renting is far more economical than buying. But, the other community strongly believes that if the rentals are directed towards payment of Easy Monthly Installment; in a few years, one can end up owning a home of their choice. Hence, the battle continues. Conventionally, gut feel or guidance from dear and near has been serving as the contributor to make a favorable decision.

Contributing Factors

If you want to rent or buy, there are certain elements you must consider. The first and foremost is your current financial situation. This will help you ascertain the kind of decision you want to take. If you have no issues with your financial position in the current and near future; flats for sale are a great option for investment. However, if you want to wait out; there is no dearth of good rental options in the city that you can take advantage of.

Secondly, the income category you belong to plays a big role. If the total net income of your family is conducive to payment of Easy Monthly Installment substantially; buying a property is a good decision. Thirdly, age of the investors is also a determining factor. Financial institutions look at the age, income standards and assets of the buyer before sanctioning a loan. If your years of service are frugal and also do not have assets to mortgage, then the amount of loan sanctioned will decrease.

While owning an apartment or any other property is a lucrative option owing to huge capital appreciation and/or rental gains; it involves liability. Therefore, your financial position should help you determine your choice when it comes to buying or renting. But all said and done, if you choose to purchase an apartment or villa; it is always wise to choose a strategic location because such areas offer high return on investment.