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.