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.