Chennai real estate market has been one of the key markets in the entire country, showing immense growth and future potential for buyers and investors alike. Properties in Chennai have witnessed over 32,800 new launches of residential units and the absorption of these projects have been close to 22,700 according to a report by Jones Lang LaSalle. This rapid rate of absorption was mostly observed in the IT corridor of OMR (Old Mahabalipuram Road). This conservative market today is completely driven by end users, in spite of the many slowdowns that occurred last year. Economy and the political scenario played a major role in this too.
Today the market in Chennai is such that there is only very limited opportunity to construct budget independent house for sale in Chennai, in spite of the demand generated. Also what is considered affordable in Chennai might to relative to any other city. It might more or less depending on the city and its real estate sector. With further improvement in infrastructure and attractive prospects for healthcare and educational sector continuously growing, Chennai has emerged as an attractive investment prospect in all of south India. Here is how you need to make smart investment choice in Chennai
1. Fix on a budget- It is important to decide how much you are willing to spend for your real estate investment. As this will narrow down the search for you immensely.
2. Do you research- Do a thorough background check of the locality, apart from doing internet research you must also visit the locality if possible to see two important aspects, physical and social infrastructure and public transport and connectivity in general. Also additionally if you have any other requirements like school or a college, you must consider looking at localities accordingly.
3. Decide if you are looking for property for investment or for personal use—it is important to know how and where to invest and to decide that one must understand the implications of investment in any region. Also if you are looking to invest for the sole purpose of reaping good resale value, then you approach and the localities you look will be different and if you are looking to invest for personal use, then the set of localities to look at may vary considerably.
4. Identify growth pockets- “Infrastructure is being developed to suit the needs of various industries that are setting foot into the city. Focus is on the Outer Ring Road (ORR) were the Phase I (Vandalur to Nazarthpet – NH 4) has already been completed. ORR Phase II where land acquisition is in advance stages will boost the real estate activity along this corridor. Chennai and its adjoining cities are among the best for primary and higher education in the country today. Healthcare and medical facilities in the city are also among the best available in the country. Development of new hospitals, schools, malls and multiplexes in the emerging locations are all stimulating growth for the city’s residential real estate industry.” Explains Sanjay Chugh- Head Residential Services JLL India
After these important steps all you have to do is hunt for properties in the given region. Investment decision is a crucial one, therefore take your time and invest in the right project. Properties in Chennai and the real estate market is showing positive signs and is project to grow manifold in the next decade.
Today the market in Chennai is such that there is only very limited opportunity to construct budget independent house for sale in Chennai, in spite of the demand generated. Also what is considered affordable in Chennai might to relative to any other city. It might more or less depending on the city and its real estate sector. With further improvement in infrastructure and attractive prospects for healthcare and educational sector continuously growing, Chennai has emerged as an attractive investment prospect in all of south India. Here is how you need to make smart investment choice in Chennai
1. Fix on a budget- It is important to decide how much you are willing to spend for your real estate investment. As this will narrow down the search for you immensely.
2. Do you research- Do a thorough background check of the locality, apart from doing internet research you must also visit the locality if possible to see two important aspects, physical and social infrastructure and public transport and connectivity in general. Also additionally if you have any other requirements like school or a college, you must consider looking at localities accordingly.
3. Decide if you are looking for property for investment or for personal use—it is important to know how and where to invest and to decide that one must understand the implications of investment in any region. Also if you are looking to invest for the sole purpose of reaping good resale value, then you approach and the localities you look will be different and if you are looking to invest for personal use, then the set of localities to look at may vary considerably.
4. Identify growth pockets- “Infrastructure is being developed to suit the needs of various industries that are setting foot into the city. Focus is on the Outer Ring Road (ORR) were the Phase I (Vandalur to Nazarthpet – NH 4) has already been completed. ORR Phase II where land acquisition is in advance stages will boost the real estate activity along this corridor. Chennai and its adjoining cities are among the best for primary and higher education in the country today. Healthcare and medical facilities in the city are also among the best available in the country. Development of new hospitals, schools, malls and multiplexes in the emerging locations are all stimulating growth for the city’s residential real estate industry.” Explains Sanjay Chugh- Head Residential Services JLL India
After these important steps all you have to do is hunt for properties in the given region. Investment decision is a crucial one, therefore take your time and invest in the right project. Properties in Chennai and the real estate market is showing positive signs and is project to grow manifold in the next decade.
