Perambur- Trending Property Investment Destination of Chennai

Located in North Chennai, Perambur is one of the emerging residential areas of the metropolis in recent times. The area is witnessing a huge a residential demand owing to its connectivity advantage and infrastructure. According to the real estate experts say that it is the best time to invest in Perambaur. As this area has close proximity to Chennai Central Railway Station, which is located just 4 km away. Alongside, Perambur has the advantage of good access to rail networks of the Chennai city. The neighbourhood areas include Kodungaiyur west and east.

Once been an underdeveloped area, Perambur has emerged as the most demanded residential areas due to the development of hospitals, schools, parks and commercial complexes etc. Following are the major reasons why Perambur is becoming the preferred destinations for property investment;

Multiple Property Options

As per the real estate sources, Perambur offers both commercial and residential options. Here the property buyers can find plots, individual houses, apartments and builder floor flats. The price of the properties in Perambur is ranging between Rs 4,500 to Rs 9,000 per sq ft. The price of a double bedroom apartments in Peramabur is ranging from Rs 25 lakhs to 75 lakhs. On the end, the price of a 3 bhk apartment starts from Rs.55 lakhs for a 1000 sq ft unit and goes above 1 core for a 1500 sq ft unit.

Connectivity

Perambur enjoys good connectivity through railway links, as it served by 3 railway stations namely Peramabur Loco Works, Perambur Carriage Works and Perambur. Apart from it, there is a frequent bus transportation facility for the residents to reach their desired destinations.

Infrastructure

Perambur offers all the essential facilities such as schools, banks, shopping malls, hospitals, banks and ATMS. Further, the proposed infrastructural developments are in the pipeline.

Thus, for those home buyers who are looking individual houses or apartments in Chennai for long term investment, Perambur could be their ideal choice.

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Why you must invest in properties in Korattur

Chennai is a market which has been which has been very traditional. It is primarily made up of end users.  These end users have ensured that the market remains speculation free. Even though the city did face a small slowdown of sorts last year, things are looking up for the realty sector in 2015.
The market which is attracting the attention of the buyers the most in this city is the northern market. There are many factors which are working in its favour. But the factor which is influencing the buying decision the most is affordability. There are many micro markets here which have caught the attention of the buyers because of the cheap price tags that are attached to it. There are still large parcels of lands available here which are being developed to give more housing options for those who are looking for homes in the city.

Korattur is a micro market which is located in the north western part of the city. It is surrounded by areas such as Kolathur, Anna Nagar, Oragadam, Ambattur and Padi. It is encircled by both established and upcoming micro markets. It is located along the Chennai Mumbai Railway line. The locality is home to the Korattur railway station. There is now growing demand for property such as a plot and individual house for sale in Chennai which is located in this micro market.

As far as properties in Korattur are concerned, 2 BHK flats are in demand. This is followed by 1 BHK apartments. The unit size most preferred for flats here falls between 751 to 1000 square feet. This is followed by the 501 to 750 square feet range. The budget range that buyers are looking for as far as properties in chennai are concerned falls between INR 30 to 40 lakhs. The second most preferred budget range here falls between INR 20 to 30 lakhs. Buyers are willing to spend less than INR 2000 per square feet on flats here. In second place is the INR 2501 to 3000 per square feet range.

The going rate for apartments here stands at INR 5500 per square feet on average. The cost of an individual house for sale in Chennai which is located in this micro market stands at INR 5000 per square feet on average.

Though north Chennai is becoming quite popular among buyers, this area is not without its fair share of problems. The social and civic infrastructure present here is not up to the mark. It needs to be developed and that too at a fast pace if it has to keep up its tag as a growing real estate hub in the city. The government is focusing on this area and the blanks are being filled as far infrastructure is concerned. The upcoming extension of the metro line to Thiruvotriyur is big step in this direction. When this line becomes functional it will really bump up on the rates for homes in this part of Chennai.

High properties prices in central localities push developments along peripheries in Mumbai

If you are one of those who are keen on making a realty investment in those localities that promise high returns, Mumbai is the place for you. But the skyrocketing property prices might push you to head to suburban localities- however, one locality that is brimming with realty activity is Mira Road. Located in the western peripheral of Mumbai city, the locality is luring many home buyers thanks to its housing stock. Real estate developer with both national and local developers are coming with various realty projects and are offering an array of apartments for sale in Mira Road ranging from being economical to ultra luxurious.

Well equipped with basic civic amenities, the vicinity is fast becoming one of the most sought after residential catchment area. The existence of many schools, colleges, super markets and reputed healthcare units make this locality a self sufficient neighbourhood. Apart from these, the presence of many shopping malls and many movie theatre have roped in a pool of cosmopolitan crowd. A property at Mira Road that was once barren today hosts a high rise apartments that boasts of having all the modern day amenities that meet the needs and demands of the urban crowd. Its connectivity is another factor that is fuelling the realty demand further.

Enjoying a seamless network- Mira Road is easily accessible to other parts of the city from Navi Mumbai to Thane via the Western Express Highway. While this arterial connector links the western peripheries of Mumbai city, it also links the Mumbai International Airport, which has lured many investors to invest here. Another factor that has boomed the realty market here is the presence of another important connector- the Ghodbunder Road- it improves connectivity to neighbourhoods in Thane and Navi Mumbai. Property builders are now cashing on the consistent connectivity and are creating various capital ventures. They are now coming up with projects that specifically designed for MIGs (Middle Income Group Individuals). 1 BHK apartments for sale in Mira Road are cited to fall well within the range of Rs 40 lakhs, while 2 and 3 BHK homes are estimated to hover over a price bracket of Rs 6,500 and Rs 7,750 per square feet.

While the growing housing influx has not only resulted in property prices to soar, but they have also reaped fruitful benefits. The high ROI (Return on Investment) has lured many local second time home buyers and investors to purchase many inventories here. According to recent reports, capital values of a property at Mumbai has appreciated over 30 percent in the past two years. Another element that has roped in a lot of investment is the high rental returns. Depending on the furnishings and amenities offered by the owner, 1,000 square feet homes here are capable of generating rental yields anywhere between Rs 12,000 and 17,000 per month.

Being a neighbourhood that is hit amongst middle class individuals and working professionals, the locality is filled with smaller housing units that are ideal for bachelors and smaller nuclear families, so if you want to own a property in Mumbai, without digging too deep in your pocket- Mira Road is the place for you!

South Kolkata-A bustling realty region that is luring many potential home buyers

While most of the localities within the city limits have reached their saturation point- it doesn’t come as a surprise to see distant peripheries rapidly developing. And south Kolkata has an array of areas that are bustling with construction activities. The presence of land in large tracts is luring many real estate developers to head to this side of the city. An array of apartments in south Kolkata have recently mushroomed resulting in an influx of housing demand.

Areas like Park Circus, Bhawanipore, Tollygunge, Alipore, Ballygunge, Garia. Baruipur form south Kolkata. The region is also cited to be an educational hub thanks to the presence of many educational institutions like Indian Association for the Cultivation of Science and Indian Institute of Management Calcutta. The existence of many reputed health-care facilities too have attracted many families and retired personnel to shift base here. The many recreational spots makes this region one of the most sought after places for realty investment. Local and national real estate developers are basking in the glory and are creating extraordinary apartments in south Kolkata. Ranging from being affordable to mid-segmented to even uber luxurious, one is definitely spoilt for choice every time they decide to invest here.

Some of the most preferred residential localities include Tollygunge, Garia and Ballygunge. While Tollygunge attracts many home buyers due to its modest budgets, Garia attracts many investors for its high ROI (Return on Investment). Capital values of homes in Tollygunge are expected to hover over a price bracket of Rs 4,000 and Rs 5,200 per square feet depending on the amenities and facilities offered by the builder. Similarly, properties in Garia are likely to cost an average of Rs 4,000 per square feet and the same house can generate a rental yield of Rs 15,000 per month making the locality a sought after destination for many working professionals.

Owing its development to seamless connectivity and its developing social infrastructure- the realty sector of Ballygunge is currently witnessing an upswing. The well constructed homes and the open green spaces are luring many property seekers. Capital values of properties here have escalated over 16% in the last year and the prices continue to soar. Resale flats in south Kolkata especially in Ballygunge are cited to be bankable due to its stable construction. Resale value of 2 and 3 BHK apartments here are cited to cost an average of Rs 11,200 per square feet.

With the city’s realty sector reviving, home buyers and property seekers are leaving behind their inhibitions and are investing in south Kolkata due to its high fruitful returns. These suburbs offer the perfect blend of residential and commercial spaces that are ideal to many middle class home buyers. Easy connectivity, growing commercial belt and economical property prices in Noida are luring in a pool of the cosmopolitan crowd towards this region of the city. So don’t shy away from buying a property in Garia or investing in resale flats in south Kolkata especially in a locality like Ballygunge as they are highly bankable and are capable of generating high returns.

Noida witnesses rapid growth

Noida real estate market is gearing up for the New Year and things seems to be looking up for the realty market in Noida and other cities part of the National Capital Region. Ease in the FDI reforms, implementation of the REITs and a number of infra developments in the country has really created a lot of opportunities of builders and home buyers alike. The realty market in the National Capital Region has gained necessary momentum in the recent past. Noida and Gurgaon are two regions that will see the most amount of stability this 2015. They are mature real estate markets and the things will definitely see an interesting turn of changes.

Santhosh Kumar of JLL India says to Money Control that, “Various recent announcements and the infrastructure uplifts of the city have made Noida's real estate market increasingly attractive. What favours investors entering Noida is the lower pricing factor, which now promises better appreciation and returns on investments. The realty market in Gurgaon has now crystallized into one most favourable for buyers in the premium segment. But the other side of the coin is that the high price points in Gurgaon suggest that properties there will no longer fetch high rates of appreciation. With the fast-paced development in infrastructure in Noida and its vicinity, real estate growth has really picked up over the past few years.”

Many new projects have been charted out in the National Capital Region which will help in the appreciation in the price of properties in Noida. The extension of the metro line from Dwarka-Noida to Pari Chowk if completed will have a huge impact in the realty market and improve the prospects of residential apartments in Noida. However this project will only have long term implications as the assignment will only wrap up by the year 2021. The Noida Metro Rail Corporation has secured approvals for a 29 km long metro link between Greater Noida and Noida. This project will be a game changer for properties in Noida. Although one must not expect overnight returns and be prepared to stall selling of property to the right time.

On the other hand apartments in Greater Noida, an extension to Noida has posed an opportunity to establish their own power plant which will add to the number of infrastructure projects in the region, thus improving the overall appeal of the city. In fact Greater Noida has attracted a lot of investment in the in the luxury housing sector. Top builders like Supertech Ltd, 3C Company, Prateek Group, Lotus

Greens and Wave Infratech have projects in the locality starting from INR 3000 to 4000 per sq. ft. With improving infra and improving connectivity in the region Noida and Greater Noida are emerging as joint players in the race for realty demand in Noida. Projects of economic importance like Export Promotion Zone and Taj Economic Zone is predicted to give these areas a complete realty makeover. Time will tell how the consumers respond to this.

Kelambakkam emerges as an affordable real estate hub in Chennai

Kelambakkam is an emerging micro market located on the Old Mahabalipuram Road.  It is surrounded by areas such as Padur, Kovalam, and Pudupakkam. This micro market lies in close proximity to areas such as Siruseri, Navalur and Uthandi. The Vandalur-Kelambakkam Road also passes through this locality making it easily accessible to localities on the Grand Southern Trunk Road like Vandalur, Guduvancheri, Tambaram and Perungalathur.

The area’s main draw lies in its location and the affordability of real estate available there. It is easily accessible through the OMR, GST and the East Coast Road. Since it is located on the Information Technology belt of OMR and is especially close to Siruseri which houses the SIPCOT Industrial Park, there is a lot of demand for properties here from those who are employed in this sector. There is also great demand for rental properties here because of the same reason. The rental rates here stand at INR 13 per square feet on average.

Flats for sale in Chennai located in this micro market fall squarely in the affordable category. The property rates for apartments locates in this micro market stood at INR 3700 per square feet on average in the first quarter of 2014. The prices had appreciated by about 11% when compared to the last quarter of 2013 when the prices stood at INR 3400 per square feet on average. In the second quarter of 2013 the asking price for apartments here stood at INR 3100 per square feet on average which was a drop of about 13% when compared to the previous quarter. The prices shot up by 71% in the third quarter of 2013 and stood at INR 5300 per square feet on average.

Chennai Real estate were priced at INR 4300 per square feet on average in the first quarter of 2014. This is a drop of a mere 3% when compared to the previous quarter when the asking price stood at INR 4500 per square feet on average. In the 2nd quarter of 2013 the asking price for villas in Kelambakkam stood at INR 7700 per square feet on average which was an increase of about 68% when compared to the previous quarter. The prices only dropped by about 1% in the next quarter and stood at INR 7600 per square feet on average.

The most sought after apartment configuration here are 2 BHKs. This is followed by 3 and 1 BHK flats for sale in Chennai located in this micro market. The most desired unit size for apartments here among buyers falls in the less than 500 square feet range. This is followed by the 501 and 750 square feet range and the 751 and 1000 square feet range. Buyers are willing to spend anywhere between INR 10 and 20 lakhs on apartments here. This is followed by the INR 20 to 30 lakhs range and the INR 30 to 40 lakhs range. The most ideal budget range for flats here falls below the INR 2000 per square feet range.