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.