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

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.

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 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.

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.

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.