10 Tips for Homebuyers and Sellers In Real Estate

New-construction home sales are up, previously underwater Properties are in positive equity again and investors are turning their attention to "secondary markets" to find value. Economists expect house prices to rise another 4 percent to 5 percent in 2014, meaning remaining bargains will get even more sparse.

10 Tips for Home Buyers and Sellers in 2014 from Akshaya Private Limited

The New Symbol Of Luxury in Coimbatore - Akshaya

Orbit 11 is a project by Akshaya that is dedicated to providing high end residential & commercial projects in Coimbatore. Live the world class standards at Orbit ... 

Orbit - The New Symbol of Luxury from Akshaya Private Limited

Home To Richness in Trichy - Akshaya

Akshaya launches "Trichy Rich" " Inviting you to Trichy Rich, at Thillai Nagar, Trichy on the 19th & 20th April, 2014..." YOUniverse. 

Trichy Rich - Akshaya from Akshaya Private Limited

Republic A New Project in Kovur Chennai - Akshaya

Live the world class standards & amenities at Republic in Kovur. Republics by Akshaya provides highly luxurious residential & commercial apartments in Kovur ... 

Republic- Kovur Project in Chennai from Akshaya Homes from Akshaya Private Limited

Uses Of License Agreement In Real Estate Industries

Indian Property Lawyers highlight the important points to keep in mind about a Rental Agreement, also called a Leave and License Agreement While dealing with Rent/Lease contract in either capacity , one must avail the services of competent professional lawyer as it involves the legal provisions of the Contract Act and Transfer of Property Act.

What You Need to Know About Leave and License Agreement from Akshaya Private Limited

New Trends In Real Estate in Chennai

Chennai is known for its conservative mind-set, which reflects visibly on its residential property market trends, as well.

New Trends In Chennai Residential Real Estate from Akshaya Private Limited

What are the best places to Invest in Chennai?

A couple of years ago, the real estate market of Chennai was booming with heavy rise in prices and even bigger demand for residential and commercial properties. 2013 saw a dip in realty demand. Although the city has been facing its fair share of ups and downs in the last one decade, there are numerous positive factors that continue to make Chennai more endearing than the other metros. Properties to rent in Chennai also continue to face relatively high demand simply because the city demonstrates a lot more potential to grow and expand. Government initiatives, infrastructural development, commercial progress and potential to expand are some of the reasons why Chennai ranks in the top list of investment destinations. Premium builders continue to make modern flats for sale in Chennai that are up for grabs.
 
Ideal destinations to invest in Chennai

Although Chennai’s real estate market can be classified into different directions; there are some localities that are growing by leaps and bounds over other areas. If you are considering in investing in real estate in a city like Chennai, you must first gather a good understanding of these regions before making a decision.

OMR/ECR 
 

One of the first few areas to observe landmark developments in real estate progress; OMR is also referred to as IT/ITES corridor of Chennai. Even after so many newer localities have started gaining significance, properties here are still up-market and one of the firsts to be sold. Even properties to rent in Chennai hold a significant position in OMR/ECR and the nearby Thaiyur. This scenic location has lifestyle homes, contemporary apartments, opulent villas and sprawling farmhouses that offer a lot of lung space and even better returns on your investment.

GST Road 

One of the busiest intersections of the city, the GST road is near the most popular destinations of Chennai. Located in close proximity to Tambaram, Velachery, Maraimalai Nagar, Medavakkam and other popular suburbs; GST road strikes gold when it comes to real estate ROI for its investors. A lot of flats for sale in Chennai are focused in this area for there is abundant commercial activity surrounding GST Road.

Poonamallee High Road 

One of the busiest hubs of Chennai, Poonamalle is not just closer to the city’s central business district but also enjoys the amenities of a suburb. There is immense infrastructural work that lines Poonamallee easily making it one of the best destinations for choosing flats for sale in Chennai. The destination is also the best bet for choosing properties to rent in Chennai.

Where to Invest in Coimbatore?

Apartments for sale in Coimbatore are meeting huge demands today. Coimbatore city by itself is becoming a hot spot of real estate investment. The city is facing demands not only in residential properties but also in vacant lands, office spaces and commercial properties. Several studies by real estate experts have shown that Coimbatore is an ideal destination for setting up an IT Park. Coimbatore is even ranked in the class of Chennai, Hyderabad and Bangalore in terms of real estate potential. Large scale infrastructure work has begun in the city in order to gear it for the big realty and commercial burst in a few years from now. Properties in Coimbatore are already observing soaring prices and huge returns on investment can be expected shortly.

NRI investment in real estate

Investment in real estate is always the safest bet even during times of economic recession. Real estate offers capital appreciation and constant returns. Today, RBI has relaxed investment rules for NRIs and with this; flow of foreign funds into Coimbatore has grown dramatically. Owing to the current property rates in the city vis-à-vis property prices in other cities like Chennai, Mumbai, Bangalore or Delhi; investing in apartments for sale in Coimbatore offers better prospects. The city is today the right place for realty investment. For investors looking at South India as a destination for real estate investment, Chennai has presented itself as a matured market but Coimbatore is only on the brink of development. Hence, with NRI interests in the city; premium builders are foraying into Coimbatore with modern homes and apartments that guarantee excellent ROI.

Ideal Places of Investment in Coimbatore

Properties in Coimbatore can be classified into North, South, East and West like most other cities in the country. While each has its own significance and appeal, there are specific areas that are growing at a faster pace than the rest. North Coimbatore comprises Thudiyalur, Mettupalyam, Kavundampalyam, Vellakinar and Sanganoor. This is the region that houses several existing and proposed IT companies, automotive manufacturers and great commercial activity. Apartments for sale in South Coimbatore are in Podanur, Chettipalyam, Townhall, Ukkadam and Sundarapuram amidst others. Connectivity to Palakkad and the rest of the city, dams, universities and temples is excellent here. Many prestigious residential properties are coming up in the South. Avinashi Road, Peelamedu, Trichy Road, Ramanathapuram are some localities of East Coimbatore that is also home to educational institutions, colossal residential development and commercial activity. Finally, properties in West Coimbatore are in Saibaba Colony, R.S. Puram and Gandhipark pose excellent options for investment because of the abundance of commercial and residential activities here.

Modern Lifestyle is synonymous with Luxury and Comfort

When you are planning to invest in real estate in Chennai, there may be multiple things that run in your mind. The kind of property, location, brand, pricing, returns and several other attributes determine a purchase decision. But, people today are in a lifestyle that is so very different from the kind that the city or even the country may have witnessed two decades ago. It is perhaps the lifestyle, purchasing power, education and influences of West that demonstrate changes on real estate buyer preference and construction styles. This trend is not just observed with flats or homes for sale but also with properties to rent in Chennai.

Defining modern lifestyle

A few years ago, Chennai like most other metros and Tier I cities of the country was home to conservative industries that guaranteed job security and perfect work-life balance but purchasing power of people was then not quite as much as it is today. The advent of new-age industries like Technology and Software Services and international engineering and automotive majors has not just opened up abundant employment opportunities but also increased the purchasing power of people considerably. With increased affordability comes the need to lead a happy, luxurious and comfortable lifestyle. Real estate in Chennai in the last two decades is an example of such a transformation.

Expectations of the modern investor

The modern investor is keen in owning or renting a home that comes with all amenities needed for an urban lifestyle. Amenities today include fitness center, club houses, swimming pool, sports courts, recreation centers and adequate retail and medical facilities. These more or less complete the immediate circle of needs and cater to the lifestyle he so desires. People are not just seeking these amenities in homes or flats for sale but also in properties to rent in Chennai simply because lifestyle requirements far exceed most other preferences today.


Lifestyle denotes comfort

Gone are those days when people stepped out and searched for swimming classes or gyms in the surrounding areas. A lot of time was utilized in commuting between each destination. Today, builders that constitute real estate in Chennai are building residential communities intact with all necessary amenities for the demanding customers. This has emerged into a popular trend because these facilities signify comfort. They are not luxurious needs but offer a life of convenience and balance. Even properties to rent in Chennai have these facilities in-house because such is the demand for lifestyle homes.

Reasons for the Rise in Popularity of Properties to Rent in Chennai

Properties to rent in Chennai have turned out to be the latest fad in the city and there are distinct reasons for this transformation. Chennai’s real estate scenario has been burgeoning over and above most other metropolitan cities of the country. Several premium builders and developers have introduced prestigious milestone projects in the city thereby accelerating realty demand and pushing the economy to an all time high. High demand has pushed the prices of these properties and also expanded the city in order to accommodate the inflow of population from other parts of the country. Commercial projects in Chennai are also increasing simply because the city demonstrates greater potential to emerge supreme in the years to come.

While there are a huge number of flats for sale in Chennai along with other kinds of residential units; the city has observed an increasing demand for rental properties. Properties to rent in Chennai have become exclusive and there is greater demand for such properties today. Here are the reasons that substantiate this sudden spurt of interest in rental properties.

Migrating population

The new age industries have created ample employment opportunities in the city. IT/ITES, manufacturing and automotive organizations have recently created strong presence in Chennai. They require a large manpower base that has attracted interests of professionals from other parts of the country and elsewhere. This segment of migrant population may or may not make the city as their permanent base. But even in the short run; they require comfortable, secure and urban residential hubs and this is where rental properties have become a huge hit. Also, there are several investors that have demonstrated interests in caching in on the commercial viability of the city. Thus commercial projects in Chennai on lease and rentals are also thriving immensely.

Cost of homes

Chennai may be relatively affordable when compared to other metros but the cost of flats and apartments here is still a little inaccessible especially for those in the middle income segment and amongst those who have made the city their temporary abode. Properties to rent in Chennai are therefore an easy resort to such communities of customers. They enjoy the benefits and amenities offered by these new high rises and modern apartments but do not have to pay a large sum to make it their own at least considering their short term prerogatives. 

As more and more premiums sale and rental residential properties and commercial projects in Chennai spring up every other month; the city is all poised to witness large scale economic development.

What makes Chennai prefer Residential Apartments and Flats?

If you have observed the realty scene in Chennai, you are likely to have noticed the dramatic increase in the number of flats for sale in Chennai. Chennai was always known as a conservative market with real estate investors having concrete preferences when it comes to location of home, nature of property and amenities in the surrounding areas. Today, the city is witnessing innumerable changes with respect to all three factors. The abundance of residential apartments in Chennai especially in the suburban regions stands testimony to the changes in the mindset of the average real estate investor in the city. 

What has caused this transformation? Why have flats for sale in Chennai become the hottest fad in the last two decades and expected to burgeon going forward?

Community living

Many aspects in the country are today a result of the influence of the west. Community living, for one, came to the country from the west. There are several apartments in the city that are complete with amenities for the urban residents. This kind of shared space implies a hassle-free lifestyle, round-the-clock security and societal dependencies that the modern investor requires.

Lack of space

Chennai is not a new city. Although the city has big expansions plans, the availability of land is not adequate to cater to the construction of independent homes. Every residential unit today is home to many residential apartments in Chennai. The problem of land parcels is thus eliminated especially when the population of the city is growing by leaps and bounds.

Abundance of amenities

The availability of land for the construction of independent homes and villas may be relatively less but the number of amenities available within every residential unit is a large number. People today desire these amenities that make life simpler and lifestyle upscale. There are several home owners and real estate investors that prefer those flats for sale in Chennai that come with a profusion of amenities for the entire family.

Security

Security is a factor of concern in every city today and not just Chennai. It is a universal thought that apartments or flats offer better security than independent homes since there is not just an appointed security personnel to take care of the premises but the presence of other homes in the closest vicinity.

Hence, residential apartments in Chennai are today preferred by the modern day investor.

Coimbatore’s sudden Status change in the Realty market. Things to Know.

If you have to move from metropolitan cities and shift focus to Tier II cities when it comes to real estate investment, then you better have concrete reasons to do so. Coimbatore is an interesting choice to make. Apartments for sale in Coimbatore were once constructed with the purpose of catering to a laid-back retirement oriented community. As a matter of fact, apartments were lesser in number when compared to homes then. But today, the city is home to luxurious apartments much like any other metro in terms of quality and price and is also witnessing great demand. Properties in Coimbatore have abundant reasons contributing to growing demand.

Why Coimbatore 

 

There are a number of factors that attribute to favoring Coimbatore as a preferred destination for real estate investment. 

• The weather in the city is highly favorable. Many industries and organizations from other countries find the climate pleasant and favorable to set up establishments and centers. The city is today home to many expatriates and this migrant community prefers to live in tastefully constructed and comfortable apartments for sale in Coimbatore.  

 

• The city is today devoid of congestion and offers a more relaxed and laid-back living and hence preferred by a large group of real estate investors who want to stay away from hustle, bustle and speed. 

 

• Coimbatore is home to some of the country’s best educational institutions, state-of-the-art medical facilities, infrastructure and roads. It has always been so and the city manages to maintain and nurture the status even today. Properties in Coimbatore hence find takers easily and quickly.

 

• Coimbatore continues to have a large percentage of demand from senior citizens who are looking at homes to live in post retirement. The city’s status as retirement destination has not deteriorated over the years. Unlike Chennai that has only 5 to 10 percent of senior housing, Coimbatore faces demand from NRIs and South Indians located in other parts of India who intend to settle down in the city. A lot of US based NRIs also find interest in Coimbatore. The city also has a steady demand from Kerala residents who have bought apartments for sale in Coimbatore. 

 

• Big and premium builders have arrived in Coimbatore to create architectural marvels that stand the test of time and quality. This kind of entry indicates several growth factors that include potential of the city to develop over time and cheaper and better availability of land to be consumed in commercial and residential properties in Coimbatore.

Why should you own a Home in Chennai’s Sterling Road?

Properties to rent in Chennai have risen exponentially over the past few years. The price of land has increased and so has the demand for housing and commercial real estate. This pattern of increasing trend has been sudden and as recent as one decade and a half. Large scale commercial development, rise in migrant population due to higher employment opportunities and increased purchasing power are often cited as number one reasons for this sudden increase in supply and demand in Chennai’s real estate market. A large number of high rises and luxury flats for sale in Chennai can be seen in every area at varying prices.

Location, location and location

There is something very obsessive when it comes to investing in flats for sale in Chennai or any kind of real estate for that matter. Although Chennai is witnessing a paradigm shift in location preference from Central Business District (CBD) to the more remote places; there continues to be an unparalleled appeal to the CBD and its elements. This is primarily because the kind of urban appeal that the CBD has cannot be compared to many other distant places in the city. Even properties to rent in Chennai have bigger demand and rental gains in the CBD in comparison with remote areas. 

 

Sterling Road, Chennai

Sterling road in Chennai has always been the apple of the city’s eye. The road has posh and luxurious homes. It is one of the few areas in Chennai that is still lined with some greenery and is pleasing to the eye and the lungs. It is the central hub of transportation and alive throughout the day. The road assumes a cleaner, greener and more opulent form. It is closer to various urban amenities and has a very upscale appearance. There can be none who do not desire a home or apartment in this locality.

Located in close proximity to the very up-market College Road and Haddows Road, Sterling Road may be a 100 years old but home to luxurious flats for sale in Chennai and other prime residential and commercial properties. Right in the heart of the metropolitan city, Sterling Road offers several choices to spoil you with urban living and being eco-friendly at the same time. There are several prestigious projects that are coming up on this road that are sure to steal the show. Properties to rent in Chennai also find their solace in Chennai’s Sterling Road.

What Chennai has that other Metros don’t when it comes to Real Estate?

There is something about luxury apartments in Chennai that makes its demand distinct and proliferating. Although, luxury comes at a price; there is a good demand from a substantial segment of population to invest in such opulent properties especially in the recent times. Earlier, luxury apartments and lavish villas were concentrated in specific areas of Chennai like Boat Club road, Adyar, Besant Nagar, Cenatoph Road and the likes. Today, almost every area in the city is characterized by opulence in some form or the other. While a larger part of investing community continues to prefer more affordable real estate; the demand for luxury residential apartments in Chennai is slowly making its presence felt.

Real estate in Chennai vs. other metros

Chennai has suddenly emerged as a place where the affluent and well-to-do have the means to buy and the city has the space to offer. And as the demand for housing and purchasing power increase in the city, more and more luxury apartments in Chennai are characterizing its landscape. These high-end homes have a number of substantial amenities that render a taste of urban living. The real estate market in the country has faced its fair share of ups and downs. Other metropolitan cities have faced severe decline in demand but there has not been much of a bad stir in Chennai and there are profound reasons for this.

Residential apartments in Chennai, regardless of price continue to face an upswing in demand when compared to other metros and this is because of two important reasons.

• Space

  Chennai has considerably more space when compared to other metropolitan cities. Today, real estate investors prefer lung space when it comes to living. Chennai is a growing city economically, geographically and technologically. The sudden spurt of growth has thrown up vast expanses of land for the purpose of real estate development. Builders in Chennai are today conscious of the dearth of land in other cities and hence have constructed larger homes and apartments both within and a little further from Chennai. Luxury apartments in Chennai have a lot of lung space and urban amenities for comfortable living.

• Price

  Price often is one of the most important determinants of property purchase decision. The price of residential properties in other metros is alarmingly high. But residential apartments in Chennai are relatively more affordable by most sections of the city. And differential pricing according to location helps to cater to all budgets.

The Important 3Ps of Real Estate in Chennai

There is a lot that has been said and read about real estate in Chennai. The city has been considered one of the best places for commercial and residential real estate investment in the country. While, there may be a number of reasons that promote Chennai real estate; every investor must meticulously consider three important Ps before arriving at purchase decision. Real estate is often an alluring market. It is important and yet has many inherent traps that can decline buying experience and enable a bad purchase. So, what are the 3Ps?

• Place 

  Location or place is one of the most important factors when it comes to real estate investment. Regardless of rental or purchase; location of property is of prime significance. Place does not just pertain to current yields but also in terms of obtaining higher return on investment on a future date. There are different pockets of Chennai that carry a higher price tag than many others and this is primarily the reason why location plays a huge factor when it comes to property or rental gains. However, your choice of location is also dependent upon your budget and finances.

• Price 

  Price is sometimes the first or second important factor when it comes to make a real estate investment. Real estate in Chennai has today scaled newer heights with steep increase in price and even bigger increase in demand. Price and returns have a simple correlation. Most often than not, price put in determines the price you are likely to take home today or tomorrow. This means bigger the input gets, greater the returns are likely to be. However, your budget plays a very important role in facilitating a purchase decision.

• Purpose 

  Isn’t that the most obvious of factors? Some people invest in real estate because they want to buy a home to live in, some purchase for re-sale, many others for letting it on rent and few others buy them for investment purposes. The purpose of purchase also is an important determining factor in arriving at the right choice of investment.

Real estate in Chennai is a large and vibrant market filled with abundant possibilities and innumerable opportunities. How it can be made of use to every investor is largely dependent upon certain factors and the 3Ps play a significant role in arriving at a purchase decision. Commercial real estate investment is not a far-fetched chapter in this regard.

Why should Chennai be an obvious choice when it comes to Real Estate Investment?

Chennai represents the breed of fastest and prominently growing cities of the country. The city is as old as the most ancient cities of India. However, the quantum of development the city is witnessing today especially in the real estate market can be observed in the flats for sale in Chennai. The high demand for property in the city has emerged due to several reasons and escalating demand indicates increasing prices. Property investors are reaping rich profits with their investment decisions in Chennai. Chennai is all poised to witness strikingly bigger increase in property demand thereby making the city an obvious choice in real estate investment. So, what makes Chennai so appealing?

• Industrial development 

  Chennai was once a conservative market with traditional industries doing extremely well. But this scenario changed a few decades ago. Chennai’s IT/ITEs corridor has been responsible for eyes to turn towards the city. There is an abundance of employment opportunities the multinational organizations have to offer. Besides the Information Technology sector, Chennai also received a wave of automobile and manufacturing companies. The biggest names in the world today have a plant and manufacturing unit in this city. Population is bound to follow when there is massive industrial development focused in any destination. 

• Prices 

  Metropolitan cities like Mumbai and Delhi have several prestigious properties but are largely afforded only by the affluent. Flats for sale in Chennai are relatively more affordably priced when compared to the properties in other metros. Hence, a larger segment of the population finds interest in properties of Chennai. 

• Expected returns 

  Residential and commercial real estate in Chennai may have prices that are accessible today but are expected to reach the levels of those in the other metros in a few years. Hence, investors who have made the wise decision of investing in Chennai real estate yesterday or today will sit on large sum of profits tomorrow. Also, rental properties are following close. Even those regions that were once considered remote are yielding high rental returns. And this number is only expected to go up.

Flats for sale in Chennai are great investment options not just when the market does well but also during economic slowdown. Because even in the case of the latter, people are bound to choose real estate for investment rather than other trade securities that are risky.

Has Industrial Slowdown deterred Chennai’s Real estate market?

Although the country is witnessing an economic slowdown that has direct impact on its real estate market, Chennai continues to showcase an upswing in realty. Flats for sale in Chennai are constructed in different parts of the city owing to high demand despite the slow economic progress. One important reason for realty investment during this period is because during economic slowdown, other instruments of investment face slow progress but people invest in real estate because they are expected to offer assured guarantee since they are long term in nature. Several studies show that over 75 percent investors are end users. 2 and 3BHK apartments continue to face great demand over other residential options. Properties to rent in Chennai continue to do well since employment rates are still high in the city.

Industrial slowdown and Chennai Real estate Market

Although there has been a definite industrial slowdown in the country, it continues to be good news for flats for sale in Chennai and the real estate market in the city.

• Several companies and industries are selling their land pockets because of a slump in the industrial market. This indicates the availability of land parcels in the city for the construction of residential units.

• Lands are available not only in the suburbs as was the case a few years ago but also in the Central Business District and other important regions within the city since location continues to be a growing preference with a large percentage of real estate investors.

• Chennai is today characterized by several kinds of realty projects. Properties to rent in Chennai are emerging successful since more and more migrants to the city seek up-market rental properties in the city.

• A lot of high-flying investments are happening in the city. Many industrial lands have made way for the construction of modern flats for sale in Chennai.

• Several builders are buying lands in different parts of the city and this indicates the growth prospects of residential and commercial real estate in Chennai. Construction ought to be propelled by high demand. Hence end users dictate the terms in the real estate market, property prices and choice of locations.

Chennai will continue to observe great prospects in residential real estate. Properties to rent in Chennai will grow as much as properties for sale.   

Luxury apartments in Chennai - Where Comfort meets Style

When it comes to residential apartments in Chennai, the city’s population has had diverse demands and preferences over the years. Today, luxury in residential spaces emerges as one of the primary choices. While increased purchasing power is one of the clear reasons why luxury reigns supreme, upmarket choices and changes in lifestyle are attributed as other factors. Chennai is a prime commercial, economic and educational hub of South India. In the recent years, changes in real estate have made the city one of the most sought after destinations for real estate investment. Real estate projects in several locations of the city bring high resale value and greater rental prospects thereby encouraging investors to choose the city for investments.

Premium real estate builders have entered the flourishing market and constructing luxury apartments in Chennai owing to increased demand. Contemporary and luxurious amenities and comfort of living are two important factors that investors are looking for in properties to invest.

How luxury makes a difference in real estate

• Luxury apartments indicate the presence of contemporary amenities like swimming pool, sports courts, medical centers, schools, integrated retail hubs for shopping and entertainment, fitness centers and the likes so the urban population does not have to search or travel far to complete the circle of urban living. Modern apartments are self-sufficient paradises of lifestyle living.

• Living in upmarket residential apartments in Chennai means that you are leading a higher and more sophisticated lifestyle thereby boosting levels of confidence and influence.

• Luxury apartments in Chennai have better resale value since they are constructed with the best of materials and resources and hence are more durable and enjoy better longevity than budget apartments. Moreover, they are maintained in great condition since they come with a price.

• Interestingly, most luxury apartments in the city are focused in areas that are commercially abundant. These residential units are located in close proximity to the IT/ITES corridor and manufacturing hubs thereby encouraging professionals working in these technology and manufacturing parks  to invest in properties here and cut down on travel time and cost.

• The economy of a city is many a times evaluated by the number of luxury homes it houses. In that order, luxury apartments in Chennai have transformed the perceived economic value of the city dramatically. 

Modern residential apartments in Chennai are thus all set to create landmark changes in the city.

What can Investors look for in the Real Estate market in Chennai today and tomorrow?

Real estate of Chennai has been observing continuous and rapid growth in the last two decades. And the forecast with the new residential projects in Chennai is also big. There are different factors that contribute to this kind of upsurge. Demographic attributes represent one of the segments that are responsible for the colossal change the city has been witnessing. Demographic factors include age, occupation and income of Chennai residents that trigger the development of real estate in the city. A few decades ago, when Chennai was not characterized by new age industries had a different community of people compared to the ones now. Traditional occupations are replaced by the more contemporary kinds. Salaries have grown larger and so is the residents’ purchasing power. With an overall increase on several factors, it is only but natural for lifestyle changes to become larger than life.

New residential projects in Chennai have undergone a transformation from small independent homes to large green buildings, integrated townships, luxury apartments and opulent villas much like other metropolitan cities of the country and other parts of the world. So, what caused such a mammoth change?

• Chennai has nurtured a strong economic base with several industries becoming a part of its economy. Financial services, automobile and hardware manufacturing and Information Technology have grown in large proportions thereby making Chennai one of the most sought after cities for industrial growth. The realty sector is fuelled by large scale industrial development.

• Business Process Outsourcing (BPO) is another industry that has contributed to the boom of diverse sectors in Chennai; the real estate market included. Real estate boom in Chennai has developed primarily because of the working population in the BPO and software services industries that have big employment rates and handsome salaries.

• Purchasing power is a direct result of good salaries. The working population today can afford a lot more luxury and hence luxury apartments and villas are meeting high demand today. Both residents of the city and the migrant population have developed interests in Chennai’s real estate market.

• Consumerism is growing rapidly into a big culture in the city. This kind of development in retailing is because the purchasing power of people has increased and thereby accounting for better lifestyle and seeking better options and choices. The hospitality sector is also growing dramatically with several up-market international hotels choosing Chennai as their next destination.

New residential projects in Chennai today have innumerable reasons to grow.

The Belvedere- Luxury Apartment in Chennai

The Belvedere- Luxury Apartment in Chennai from Akshaya-Homes from Akshaya Private Limited

People are investing in Coimbatore Real Estate. Know why.

As metropolitan cities become increasingly expensive by the day, real estate investors have shifted focus to Tier II cities in South India. Coimbatore is one of the most popular destinations in this category. Apartments for sale in Coimbatore have rapidly picked up pace because Chennai witnesses exorbitant prices. Once reckoned as a retirement destination, Coimbatore has today emerged as a real estate investor’s preferred choice. Properties in Coimbatore, with increased demand, are also observing transformation. The modest and simple independent homes and apartments are slowly giving way to opulent villas and luxury apartments of the best kind.

Coimbatore’s landscape is today inundated by modern residential apartments. Some structures that outdo their counterparts in several developed nations of the world. Coimbatore is today a relaxed city, slowly gearing up for industrialization like any other metropolitan city in India. Apartments for sale in Coimbatore are in greater demand for several reasons, some of which are stated below.

• Real estate prices in Chennai are soaring high and most times not affordable by middle income groups. Properties in Coimbatore are a lot more reasonable when compared to Chennai and hence the subject of immediate focus before prices soar higher in this city as well.

• Chennai is getting crowded with time. Coimbatore is a relatively more laid back city equipped with urban amenities and yet not congested. It has all the facilities that a metro can offer but a lot more lung space than Chennai or any other metro.

• Coimbatore has always been known as a medical and educational hub and textile destination. The city has the best educational institutions, hospitals and medical facilities and textile industries. Today, the city is also gearing up to witnesses the IT/ITES revolution. Several software services majors like Cognizant and Wipro have set up their bases and also have great expansion plans within the city.

• Commercial development along with growth of apartments for sale in Coimbatore has picked up greatly. This is because of availability of land and premises at relatively affordable prices. A lot of industries and multinational companies are beginning operations here and thus city is expected to see colossal industrial development.

Properties in Coimbatore are thus embarking on a journey that was once specific to the metropolitan culture. However, they are a lot more affordable now and investing in real estate of Coimbatore today is a wiser choice to make.

What can Investors look for in the Real Estate market in Chennai today and tomorrow?

Real estate in Chennai, a couple of decades ago, was as conservative as the mind-set of the city. Residents preferred the Central Business District for abundance of amenities for the entire family. Home buyers have always been driven by location preferences in Chennai. Therefore, there were a lot of limits that were imposed in the real estate market as recent as even one decade ago. When most other metropolitan cities focused on the creation of large integrated townships and luxury apartments in the outskirts of the city; Chennai residents were more than happy to stay at smaller homes that the CBD could afford. However, this scenario is now changing.

New Trends in Chennai Real Estate

In the coming months, real estate in Chennai is expected to witness dramatic changes. There are a string of township projects that are in the making and due for completion sooner. These projects are largely based out of OMR, ECR, Sriperumbudur, GST Road and the likes. And they are expected to bring about rapid transformation in the city’s landscape.

1. Plot coverage in these townships is minimal and there is massive green cover. This means that such projects are not only eco-friendly but enable its residents to lead a pollution free, safe, healthy and green living. 
2. Community living was a term that was unheard of in the city until 2006. Today, the concept has been making breakthrough with several premium real estate developers creating townships in the city. Community living has a lot of advantages to offer. Man’s need of social engagement is enabled greatly by society. Townships offer greater safety with security and proximity of other homes when compared to independent homes anywhere in the city or elsewhere. Townships usually are green projects and hence there is better lung space. Such townships are thus set to create an indelible imprint on the real estate market of Chennai.
3. Residential communities are usually complete with all contemporary amenities like swimming pool, sports courts, fitness center, joggers’ trail and the more elaborate ones like retail centers, hospitals, schools and recreation hubs thereby making them self-reliant in every sense of the word.

Real estate in Chennai has today set the pace with game changers of myriad kinds. Now, as the townships complete and community living commences in the city, real estate experts forecast a decisive momentum of a large spectrum in the city.

Chennai bears a New Face. Luxury Realty has come of age in Residential and Commercial Landscapes

Luxurious residential apartments in OMR Chennai are no longer an alien concept. Chennai has transformed and expanded so as to incorporate several other suburban markets within its landscape. The suburban markets are interestingly observing real estate demand as much as the Central Business District. When there is such high demand, the landscape in these regions is abundant with luxurious apartments and villas that are rapidly filling up. OMR is the city’s famous IT corridor. Rapid advent of numerous international IT and ITES organizations accelerated housing demand in the city. Since the IT corridor employs a large number of top management professionals that seek luxury homes in the vicinity of their workplace, several builders are engaged in the construction of premium luxurious apartments and villas in places like OMR and ECR.

Why OMR is a preferred Real Estate Destination

Besides the establishment of IT parks, OMR is also connected to many other important places of Chennai. The scenic coastline and the more serene and less polluted ambience have increased the appeal of the region tremendously. At the moment, residential activity on this road is largely seen until Kovalam but in the years to come, a lot more real estate development can be observed even beyond Kovalam. Therefore, those who work in OMR, ECR and other adjoining neighborhoods or even in the prime areas of Chennai like Thiruvanmiyur, Besant Nagar and Adyar find staying at OMR a more desired choice. 

1. OMR has homes with large spaces and ability to expand further. Villas, integrated townships, farmhouses and sprawling apartments can be seen only in these suburban markets.
2. Luxurious residential apartments in OMR, Chennai are not just a class apart but are also more affordable than the real estate market in the Central Business District (CBD) of the city.
3. Properties in this region observe an overall lower cost when compared to the CBD. Lower prices are because of easy availability of land at lower rates. 
4. Capital appreciation is expected to be exponential since the scope of development is bigger.
5. Saturation will naturally take longer since these are the newly developed areas unlike the CBD.
6. It is closest to the IT corridor and other industrial parks of the city.
7. Great connectivity and exceptional infrastructural development facilitate easy access to all important parts of the city.

 Image Credits: commonfloor

The Market for Luxury Realty in Chennai

Chennai was once known for its conventional expectations and preferences in every field and real estate was no stranger to this concept. However, the mindset of the population today has undergone a paradigm shift. The modern real estate investor seeks luxury in residential real estate and there are numerous reasons that support their changing preferences.

1. Rising income levels. Numerous multinational companies have taken affordability to a new high with high remuneration.
2. Migrating population has a different lifestyle standard and the rest embrace the new lifestyle.

The rapidly increasing number of luxurious residential apartments in OMR, Chennai is a standing testimony of the lifestyle expectations the city has prepared itself for.

Apartments vs. Independent Homes. Reasons Supporting the Choice of Investors

Flats for sale in Chennai and especially luxury apartments in Chennai is a trend that is only expected to grow with time. Villa projects, luxury apartments, contemporary farmhouses and modern studio flats are all doing independently well with real estate investors of all kinds. However, the primary preference of residents and migrants of the city continues to be apartments. There are important reasons that support the strong preference. 

Price

Flats for sale in Chennai owing to the space consumed and the number of units constructed contribute to relatively lower costs in comparison with independent homes or villas. Although there are many factors that determine the choice of home to be purchased, price most certainly is a numero uno factor.

Amenities

Apartments anywhere have a lot more amenities than an independent home. Beginning from children’s play area, swimming pool and fitness center to tennis courts and more elaborate facilities like in-house medical centers and play schools; these are options that are exclusive to modern apartments. The modern investor seeks such comforts of life.

Safety

An apartment complex is home to several homes that are located next to each other. Most flats and all luxury apartments in Chennai have dedicated security staff that are usually absent in independent homes. Safety is of paramount importance today and hence apartments are relatively safer havens of living.

                              

Community living, uncompromisable quality of construction and higher rental prospects are other reasons that support the choice of buying flats for sale in Chennai.

Properties to Rent in Chennai. How are they influencing the Realty Market?

Availability of properties to rent in Chennai will never meet its saturation even though the homes for sale in the city are rapidly increasing. This is because rental properties are ideal for those who find it tough to buy a home in a metro like Chennai where prices are soaring high. Flats for sale in Chennai may be a growing number but so are their prices. If the Central Business District of Chennai has exorbitant prices associated with residential and commercial properties; the suburban markets may be relatively lower but the numbers are still too high especially if the expected choice of property belongs to a reputed builder. 

Properties to rent in Chennai are today exclusive deals since such is the nature of demand. Investors who already have properties for themselves are investing in homes solely for rental purposes. This trend has largely caught on in the country simply because rental yields in Chennai are skyrocketing. Despite the location of property, migrating population is looking at rental properties instead of investing in apartments for sale because

1. those work beyond their budget and
2. the nature of their jobs may require them to move to different locations in a few years.

This is where properties to rent in Chennai are making big impressions. Numerous builders from the country and around the world are cognizant of preferences of the city’s resident population and hence offer homes that suit their requirements and budgets. This way, ready-to-move-in homes have also created a new trend and constitute a phase to watch out for.

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Race Course Road, Coimbatore turns into a Lifestyle Destination

Properties in Coimbatore are increasingly becoming synonymous with luxury. The new generation industries and lifestyle of population have made a substantial dent in the realty preferences of the city. Today, Coimbatore is home to lush signature homes that are tastefully architected and resourcefully constructed. These are hence futuristic homes for the forward thinking population of the city. Coimbatore’s landscape is gradually becoming inundated with modern homes and state-of-the-art office spaces and Race Course Road and its neighboring areas are receiving a new lease of life. Trichy Road, Off Race Course Road is fast emerging as the hub of luxury properties.

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Why Race Course Road

Luxury properties in Coimbatore can be seen in big numbers in the areas adjoining Race Course Road.

1. Race Course Road lies in the heart of the city and therefore a central destination will always be the first to develop. Also, sustained development can be observed in central regions even when other areas see their rises and falls and this is quite natural in a real estate market.

2. Further to being the heart of the city, Race Course Road is surrounded by numerous important and great-to-have amenities. These include hospitals, schools, railways station, airport, clubs, restaurants and shopping malls.

3. Connectivity to the rest of Coimbatore and other important hubs is always the best from Trichy Road and Race Course Road.

4. Properties in Coimbatore of the uber luxury are growing in numbers. And a large percentage of them can be seen on Race Course Road. So if you sign up for a living here; you become a part of the up-market locality of the city.