The Adaptation of Builders to the rapidly growing Real estate in Chennai

Chennai is a booming Real estate market. Apartments for sale in Chennai are increasing by leaps and bounds. Several builders have made their foray into the Real estate world of the city to create quality homes at better prices. Chennai was once characterized by independent homes and budget apartments and the concept of Real estate investment was not as big as it is considered today. However, the current scenario showcases new communities of Real estate buyers that are not just looking at making a home for themselves complete with lifestyle amenities but also considering the returns they are likely to obtain in the long run. 

Luxury living spaces and state-of-the-art commercial buildings are tastefully architected and efficiently executed by the builders in Chennai. Premium flats for sale in Chennai are no longer small. They have transformed themselves into sprawling living spaces that are contemporary and efficient. Moreover, the concept of community living from the West has caught on and hence the demand for lifestyle amenities such as swimming pool, clubhouses, fitness centers and play areas have emerged as fundamental needs today. Builders in Chennai believe in creating functional and aesthetic buildings that stand the test of time. There are also residential projects that rest on the important principles of quality, durability, luxury, comfort and style.

An important element that is considered during a home buying process is the location of the property. While Chennai’s Central Business District is undoubtedly flourishing beyond comparison, property prices here are exorbitantly high and congestion even higher. Chennai, its job creators and its residents have started looking out for suburban and micro-markets and other farther corners. OMR, Medavakkam, Perumbakkam, Tambaram and Sriperumbudur form the new city in terms of Real estate development. Not only are these regions closer to IT parks and other workplaces; they are also gearing up to handle colossal infrastructural developments.

Chennai in the next 10 yrs 

src: NDTV

South India’s premium Real estate builders have turned their focus on building residential and commercial spaces where quality, luxury and comfort reign supreme. Medavakkam is closer to Chennai airport, OMR the hub of Information Technology companies and other important suburbs of Chennai. Sumangali Homes has outstanding residential projects at Medavakkam that are slated for completion shortly and many other upcoming projects in different parts of Chennai. Other residential ventures from the company can be seen at Vengaivasal and Perumbakkam. Apartments for sale in Chennai are distinctively a class apart from other metro cities of India.

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Builders in Chennai

Some Specific Regions in Chennai observe Bigger Growth than Others, Why?

If you are looking at investing in Chennai, then there are locations worth considering over many others. Premium builders in Chennai understand the significance of locations and ensure their residential and commercial projects are constructed in strategic locations for higher rate of returns for investing customers. Chennai has undoubtedly attained great heights in Real estate and infrastructural growth over many other metropolitan cities of the country. Despite the economic slowdown in thriving cities like Mumbai and Delhi, Chennai continued to show an upsurge in Real estate demand and property prices. Rapid increase in industries and multinational businesses has contributed to soaring growth of Real estate in Chennai city unlike any other.

Experienced organizations have invested quality time in researching Chennai market, global construction standards and influenced the best of both worlds in Commercial and Residential Real estate projects. Regions like OMR, ECR, Medavakkam and Perumbakkam are each transforming into self-sufficient cities themselves for such is the quantum of infrastructural growth here.

• Since bulk of the industries and IT organizations are stationed in or around these areas, the challenge of proximity to work place is covered when you stay at one of the Residential projects in these areas. 

• Secondly, there is an abundance of Recreational and Entertainment options making it convenient for families to spend ample time amidst numerous facilities.

• Thirdly and more importantly, these are regions that are poised to observe stellar Real estate growth in a few years. So, investments are guaranteed to triple in a few short years. 

Premium builders in OMR, Medavakkam and Perumbakkam, Chennai with numerous Real estate projects in these regions, have delighted several thousands of customers. The patronage is obvious in the quick closure of bookings as and when a project commences. Medavakkam has today become a go-to destination for all progressive things in the Real estate market. World-class projects reflect the quality, innovation and standards that have gone into the conceptualization and construction. Additionally, exponential capital appreciation of well maintained properties is a significant plus amongst Real estate investors. These properties are brilliant as primary homes and also serve as exceptional solutions to acquire rental gains. 

Launch of a Popular Multiplex in OMR, Chennai

src: Galatta

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Builders in Chennai

Affordable Homes Rises to the Need of the Hour

Even in during economic crisis, Real estate in Chennai has done splendidly well. The southern metro continues to be a stable market for realty when compared to its counterparts as demonstrated vividly by researches and reports over the last five years. Over 10 million sq.ft of space has been utilized by IT SEZs in the last four years and other industries such as automotive, healthcare and retail account for their own significant percentages. Employment rates are at an all time high thereby increasing the percentage of migrant population from every part of the country. Some Real Estate builders in Chennai has made its vital and impressionable contribution to the city’s realty segment. Superior quality homes that are affordable at strategic locations of Chennai are what the builders focus on best.

The apartments for sale in Chennai are emerging by leaps and bounds day after day. But today a large percentage of apartments and homes are exorbitantly priced thereby making them out of reach for a bigger segment of population. Some appreciable builders in Chennai have risen to this unmet demand with creation of modern yet affordable homes at strategic locations in the city. They also embark on every residential and commercial venture after gathering a deep understanding of customer preferences and knowledge on the contemporary trends of the Real estate sector. The focused vision has gone into the construction of contemporary and Eco-friendly homes and apartments in Medavakkam, Perumbakkam and some other regions. 

Grande Rio is a project in Medavakkam which is today the hub of commercial activity and in close proximity to the international airport at Tambaram; Grande Rio is a project par excellence. Set to cater to the demands of urban lifestyle, the project promises exponential capital appreciation and exceptional rental gains. Similarly, Perumbakkam is yet another hub of Chennai that is one of the most desired locations of the city in terms of Real estate investment. Vasantham, one of the flats for sale in Perumbakkam has 20 beautiful residential units that are tastefully designed and carefully executed to appeal to customers. Sunday project at Vengaivasal is another stellar residential venture built to provide luxury and comfort. 

Such residential ventures have changed the face of Real estate in Chennai. Residents of the city have shifted their location preferences from the Central Business District to suburban markets for want of space and comfort. And the builders of the affordable properties prides in offering nothing but the best, modest at their best indeed. 

Affordable flats in Chennai

src: NDTV

- Sumangali Homes

Builders in Chennai

How do you find out the best of Builders in Chennai?

Builders in Chennai are numerous since the demand for residential and commercial properties is at an all time high. So, Real estate Investors have a mammoth task of identifying the right kind of Real estate developer. Many times, a top notch brand or exorbitant pricing cannot really be associated with quality or durability of construction. Therefore, when choices are numerous; it often becomes a herculean task to determine the builder that is best suited for your housing dreams, preferences and budget. Sometimes a relatively new builder can incorporate better ethics and work excellence when compared to an old brick in the wall. So, the question is how to determine the best builders in the city.

Check Previous Projects

It is extremely important to do an extensive check of the projects that have been completed to determine the quality of construction, aesthetic appeal of the property and upkeep. This will give you a good idea on how the property you are interested in will be. The builder’s expertise and commitment is better represented by their portfolio.

Do Secondary Research

Firstly, go online. For instance, if you are interested in homes in Medavakkam region of Chennai, check for builders in Medavakkam. Make a quick shortlist of Real estate developers and visit their websites. This is important because the company website will tell you who the builder’s target clients are. Some developers cater only to high-end clients which mean their prices are also high. Some others cater to all strata of the society thereby making it suitable for first time buyers and middle income groups as well.

Perform Primary Research

Once you've zeroed in on the builders in Chennai of your choice from a bigger list, you need to talk to residents who have occupied their properties. This is first hand information and you will get better idea of potential problems you are likely to face. Direct customer testimonials are the best way to assess a builder. Delivery time lines, quality concerns, maintenance and reliability are factors you can understand through this research.

A Property Fair in Chennai

Location plays a huge role

Real estate in Chennai is burgeoning with equal balance in all areas of the city. While it is a wonderful proposition to go on with homes or flats for sale in Chennai’s Central Business District; it may not really be a feasible task for three important reasons. Price, travel time since most companies are located in the suburbs and an Eco-friendly atmosphere are the determinants. Therefore, Investors have shifted focus to suburban and micro-markets to satisfy their requirements. Many reliable and renowned realtors have exceptional residential properties in areas like OMR, Medavakkam, GST Road and Perumbakkam that are affordable in the current scenario and promise great returns tomorrow. 

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Builders in Chennai

The Different Shades of Real Estate Market in Chennai

The Real estate market of Chennai is largely categorized into Residential and Commercial. Flats for sale in Chennai hold different price tags owing to the difference in Real estate standards and region specific demand. Some locations are simply more Real estate friendly than many others. OMR, ECR, Medavakkam, Perumbakkam and Sriperumbudur fall under this category of regions. Several Real estate developers construct affordable and qualitative residential projects to cater to different sections of the society. Therefore, Real estate Investment is not a far-fetched dream for thousands. However, there continues to be an increasing number of luxury and premium apartments and residential projects with a big price tag. IT/ITES corridor and numerous other multinational organizations have contributed to larger income of Chennai dwellers. 

Commercial Development triggers Residential Growth

The increasing number of apartments for sale in Chennai is directly attributed to the quantum of organizations that have forayed into the city. Real estate developers have begun to construct state-of-the-art working spaces to accommodate the burgeoning demand for commercial projects. Location, infrastructure, amenities and connectivity are elements that cannot be compromised for a commercial venture. As more and more such advanced projects take over Chennai’s landscape; a larger number of employment opportunities are created. With employment arrives population and population demands modern housing in close proximity to the workplace. Therefore, commercial development in a city triggers demand for housing. These changes characterize Chennai’s real estate market.

Residential Real Estate market in Chennai 

Real estate market is handled by Investors and primary Buyers. The latter belong to the community of people who buy a home for the purpose of staying and Investors are those who intend to allow the property on rent. Irrespective of the category one belongs to, both Investors and Buyers are exposed to numerous choices of ownership. There are luxury villa projects, premium flats, studio apartments, integrated townships and modern farmhouses. And each project is constructed bearing in mind the needs and preferences of the modern buyer. Contemporary mindset also demands abundance of amenities preferably within the place of stay and these can include swimming pool, play area, fitness center, club house and security besides several others. 

Flats for sale in Chennai, perhaps the most sought after investment options since they are more affordable, higher in demand, adhere to community lifestyle living and come with modern amenities. Residential apartments are hence observing stellar growth in a city like Chennai that is soaring past other metros in terms of Real estate growth.  While it is now difficult to say if commercial growth is triggering Residential demand or vice versa; Chennai’s is a growth story that is here to stay and burgeon.

                                                    
                                                   $2 million dollar flats in Chennai

src: NDTV

- Sumangali Homes

Builders in Chennai 

  

Do Apartments available for sale in Chennai Suburbs worth the Investment?

Most investors seek important destinations for investing their money. Real estate in Chennai is a significant medium for receiving large returns on investment especially when the choice of location is made with some diligence. In this case, apartments for sale in Medavakkam and Perumbakkam, Chennai are emerging as a hub for Real estate Investment. Chennai has been witnessing exceptional Real estate growth over the last two decades. While the Central Business District (CBD) has always been the primary center of attraction for both Commercial and Residential Real estate investment; there were other regions that gradually but firmly established their presence in the market. 

OMR and ECR were the forerunners of Real estate progress in Chennai. They were the first regions in the suburban market to observe massive focus from an otherwise conventional mindset of residents in Chennai. Today, these regions witness maximum prices that can be compared to the CBD of the city.

Gradually, as industries made their advent in Chennai; other locations like Sriperumbudur, Grand Southern Trunk(GST) Road, Medavakkam, Tambaram and Perumbakkam also rapidly followed suit in terms of Real estate development. Several Realty reports have identified Medavakkam and Perumbakkam to be the nest destinations of Real estate boom after OMR and ECR. There are substantial reasons that support this forecast.

1. Location advantage

Medavakkam and Perumbakkam are located close to each other and together they are located in close proximity to the important neighborhoods of Chennai namely Tambaram, Sholinganallur, GST Road and more importantly the IT/ITES corridor of Chennai, OMR and ECR. 

2. Connectivity

Connectivity is an important factor that drives decision making when it comes to seeking property either for purchase or rentals. When a location is well connected to other parts of the city through several mediums of transport and speed and convenience play big roles, those locations yield big return on investment. Apartments for sale in Medavakkam and Perumbakkam, Chennai qualify under this category.

3. Price

Real estate Investors across all sections of the society consider price as one of the important factors that drive a decision making process. Apartments for sale in Medavakkam and Perumbakkam, in Chennai are relatively more affordable than the properties in CBD or other parts of the city. However, they are expected to yield more returns and better capital appreciation in the years to come. Therefore investing in properties here is a wise investment choice.

4. Facilities                                                       

The modern man is a slave of lifestyle. He prefers to lead a life of high standards, live in large homes made of reputed builders and stay in places filled with urban amenities within the premises and in the surrounding areas. Therefore, besides location and price, amenities have changed the way people consider Real estate investment. Properties with swimming pool, tennis courts, fitness center, clubs have become fundamental options and amenities such as and preferably international schools, medical centers and retail centers further the value of the property. The elite and a significant part of the middle income groups prefer such properties today and this number is only increasing. Hence, such properties are great investment options today and  the future.

Chennai Lifestyle reflection on a mini public transport

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Builders in OMR

          

Flats in Medavakkam pioneers Real Estate development in Chennai

Flats for sale in Medavakkam, Chennai have today emerged as worthy Real estate investments since the capital appreciation offered by them in the long run is expected to be exponentially high. Located in South Chennai, Medavakkam has been observed by Real estate Experts as a destination poised to transform the face of Real estate in Chennai, in the next five years. As a matter of fact, reports released by Realty consultant Knight Frank even brought Medavakkam under the list of 13 most happening regions of the country and this same list also features Ulwe, Wadala and Chembur from Mumbai. The kind or quantum of development has been marked dependent upon certain factors that include creation of jobs, infrastructural progress and changes in lifestyle.

There are specific reasons on why flats for sale in Medavakkam are expected to observe such exponential appreciation and these include

• Road infrastructure: People today expect wide roads for reasons that include better breathing space, efficient parking space and less traffic congestion. Medavakkam is favored with wide interior roads thereby making them the best destination for setting up Residential and Commercial properties in the city.

• Efficient connectivity: Medavakkam is one region that is well connected to different parts of the city that include OMR, Tambaram, Pallavaram and Velachery. Interestingly, these are also the areas that enjoy maximum Real estate progress and great infrastructural development with wide ranging amenities. People who work in any of these areas that account for maximum industrial growth can stay at Medavakkam, enjoy great returns and also minimize on travel time considerably.

• Well equipped with amenities: Real estate investors look for the presence of fundamental and desired amenities before investing in a place of their choice. While location and price are primary factors, amenities such as proximity to workplace, good schools, entertainment hubs and retail establishments also drive preferences towards Real estate growth in any city. Medavakkam in this case is well endowed with all of the above stated facilities and further amenities that drive Real estate choice.

Flats for sale in Medavakkam, Chennai therefore have a number of reasons why they are preferred by both Residential and Commercial Real estate investors. The higher the residential demand gets, the bigger is the impact it makes on other kinds of Real estate progress and other kinds of development a city can be defined by. 

A Model flat in Medavakkam, Chennai

source: 99 acres

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Builders in Chennai

Why and Where you should Invest on Flats in Chennai?

Located just 2 km from OMR, flats for sale in Perumbakkam and Medavakkam, Chennai have gained attention and exponential capital appreciation in a very short span of time because of their proximity to the IT corridor. Tambaram and Sholinganallur are other important neighborhoods of Perumbakkam. A mammoth rise of 21 percent is expected in the price of properties this increase will get double fold in the next five years. There are reasons on Perumbakkam, witnessing high demand and supply for real estate and these include the following.

1. Close proximity to the IT and ITES corridor renders Perumbakkam its maximum share of benefits. This is because a large percentage of population working in the IT companies of OMR and ECR find it difficult to pay exorbitant rentals or property prices in OMR and ECR and instead prefer flats for sale in Perumbakkam and Medavakkam that are relatively more affordable and also do not compromise on travel convenience.

2. The Government policy of Premium FSI that came into act in 2010 permitted creation of larger buildings. The current demand from real estate investors is large homes and properties so that there is maintenance of high lifestyle standards and greater spaces for the entire family to live luxuriously. Also, bigger spaces allow for the creation of several amenities that smaller homes cannot even dream of.

3. Relative affordability is a concept that interests Real Estate investors of Chennai. While it is difficult to think of investing in Real estate in most metros owing to ridiculously high prices; some regions in Chennai and more importantly, Perumbakkam and Medavakkam are more relatively more affordable enabling even the middle income groups of the society to find their choice of property here. 

4. Excellent connectivity to every important destination of Chennai has enabled investors to favorably consider the Real estate growth prospects in these regions today. Unusually high travel time, inconveniences during travel and lack of public transport are not some of the problems that characterize Medavakkam and Perumbakkam.

5. Good roads are constructed in Perumbakkam and Medavakkam regions thereby gearing the area for exceptional infrastructural development. Progress in infrastructure is one of the primary drivers in determining a city’s growth and development metrics.

Flats for sale in Perumbakkam and Medavakkam thus have instant appeal, relative affordability, bigger homes and exceptional connectivity making them instant hit amongst Real Estate investors.

The IT Highway, OMR

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Builders in OMR

Apartments in Medavakkam, Chennai enhance Lifestyle standards of Real estate Investors

Not too long ago, properties in the Central Business District(CBD) of the city were the only ones in focus but as the CBD became characterized by lack of space and exorbitant prices, builders and investors alike shifted focus to suburban regions. However, as supply and demand started playing their consistently expanding hands in the city, even the suburbs started observing high prices. So, areas like Medavakkam and Perumbakkam assumed never-before-seen changes in the past decade. Apartments and the builders in Medavakkam witnessed landmark changes both in terms of supply and demand.

With steep increase in demand, land pockets started declining and construction rates grew higher. Naturally, property prices also witnessed appreciating prices. The real estate market in Medavakkam is expected to grow faster in the subsequent few years due to rapidly rising social infrastructure facilities. Schools, shopping facilities, amenities, road development, entertainment hubs and connectivity make the regions susceptible to overall growth and development. As a matter of fact, realty reports have shown that the prices in Medavakkam are expected to increase by at least 103 percent by the year 2017. Apartments in Medavakkam are increasing by leaps and bounds because of the plethora of amenities and infrastructural development the region takes pride in.

Abundance of amenities at Medavakkam

The region has a plethora of premium educational institutions namely PSBB Millennium School, Hiranandani Upscale School, Kendriya Vidyalaya, St. Pauls Matriculation School, BVM Global and Padman Matriculation School are some of the renowned schools in the region. Similarly, Prince Sri Venkateshwara Padamavathi Engineering College and Asan Memorial College of Arts and Science are two of the popular colleges at Medavakkam. The area is also home to some of the city’s state-of-the-art and well equipped modern hospitals including Karunya Hospital, Global Health City, Kamakshi Memorial Hospital and Ainthiram Siddha Hospital.

Face value of the builders in Medavakkam and the apartments in Medavakkam are further enhanced by exceptional infrastructural development such as the Chennai Mass Rapid Transit System(MRTS), Grand Southern Trunk(GST) road connectivity and other road development projects. The much awaited monorail project is also an important factor that influences a major part of the real estate progress the city has been witnessing in the last few years. And added to all the infrastructural development Chennai has been making, the Chennai Metropolitan Development Authority(CMDA) project to create outer ring road helps to bring down traffic congestion especially between Medavakkam and Sholinganallur.

Medavakkam Highlights obsessed with Educational Institutions

Source: 99 acres

- Sumangali Homes

Builders in Medavakkam