Integrated Townships trending in Chennai

The township apartments for sale in Chennai are available in different price range, which is the main reason why different classes of people are fascinated. One can buy apartments within the townships, within their budget to enjoy the utmost luxury prevailing in the townships.

South Chennai stars in Real Estate Investment in India

Several reports by renowned international property consultants throw significant focus on South Chennai for Real Estate investment. Medavakkam, in particular has made tremendous progress in the last couple of years both in terms demand as well as supply of Real Estate residential properties. Apartments in Medavakkam are rising steadily and so has been their demand from 2010. Pallikaranai and Medavakkam are the southern star regions, expected to do substantially well, and reckoned as best destinations for investment in India. The significance on these two regions emerges after a thorough research on over 100 other regions in the country. There are a large number of factors that tilt the investment angle favorably towards Medavakkam- Physical and social infrastructure, proximity and connectivity to important hubs of Chennai, potential development and land availability.

South Chennai poised for further development

Builders in Medavakkam are today undoubtedly constructing premium Real Estate properties to cater to a large segment of population. A big percentage of this population represents the IT community. And it is only but natural for it to be so, because the technology industry constitutes about 70 percent of office space in Chennai. Chennai’s growth is largely driven by Information Technology and the Automobile industries. Studies show that over the next 5 years, Chennai’s industrial sector will utilize more than 21 million sq.ft and South Chennai alone would account for over 18 million sq.ft. This kind of land utilization not just benefits commercial realty but also offers great advantage to residential Real Estate in Chennai.

Additional Reasons favoring Development

Many infrastructural projects line South Chennai that includes the Metro Rail, monorail corridor and Outer Ring Road. Besides enhancing connectivity between South Chennai and rest of the city, these infrastructural projects create an upswing in realty prices in the future. Apartments in Medavakkam are likely to observe over double their current prices in the next 5 years. Also, in the next 3 years, South Chennai is expected to contribute to at least 63 percent of residential realty growth.

IT Parks and Villa Apartments

Builders in Medavakkam and rest of South Chennai are least deterred by economic fluctuations that have caused a Real Estate slump in Mumbai, Delhi and other metros. This is because Chennai has recorded price appreciations even during the crisis period. Strengthening of the IT and BFSI industries is expected to further fuel the progress of Real Estate investment in Chennai.

- Sumangali Homes

Builders in Medavakkam

Property Price, the key factor between Buying and Renting

The present Real Estate scenario in Chennai is that the Real Estate builders should have to study the demand trends in the city’s Real Estate market to survive at least. Chennai has, in the past few decades, been identified as one of the safest destinations in India for the purpose of accruing long term ROI. Besides being more affordable than other metropolitan cities of the country, Chennai has been observing gargantuan industrial and commercial growth. Many regions that were once remote localities situated outside the city are today a part of the city. Hence, Chennai is on a development trend geographically as well. However, different parts of Chennai are growing at different rates. Proximity to workplace, infrastructural development, availability of amenities and connectivity to other localities and cities are some of the reasons responsible for diversified growth.

To Buy or to Rent!

Builders in Chennai mark their properties as per the location and property buyers are well aware of the differential pricing too. And because of the skyrocketing property price, people began to prefer rental options especially when their career prospects can move them from one city to another. However, there are multiple reasons why people prefer to invest on Real Estate in Chennai and hence the city presents to be a very lucrative option in the long run. Today, even rentals are growing higher not just in numbers, and therefore people find it tough to decide between property purchase and rental. The decision should usually be dependent upon the ongoing property prices.

Ongoing Property Prices

When ongoing property prices are increasing lesser when compared to the rental rate trend in the city, it is better to purchase properties for they are likely to grow higher in the subsequent years. Going for rental property may be a wise option only if you are insistent about a specific location where property prices are way above your budget or if you are likely to move from the city within a few months. Nevertheless, Chennai presents a great option regardless of whether you stay in the city or not since property prices are affordable when compared to other metros and returns skyrocketing. Yet another trend observed in Chennai is that even rentals have been growing dramatically. While the Central Business District (CBD) continues to rule the roost in both cases, regions like OMR, ECR, Poonamallee, Velachery, Tambaram and GST Road are witnessing increasing property prices and rentals.

Sandeep Mehta

Popular Real Estate hubs of Chennai

The most popular Real Estate hubs of Chennai continue to be the peripheral regions of the city. Not only these localities serve as home to new industries and workplaces, infrastructural development too has been great in these regions. Real Estate builders in Chennai have been creating residential and commercial architectural marvels in these regions that are developing at colossal rates today. Connectivity is at its best in places like OMR, GST Road, Medavakkam, Perumbakkam and Poonamallee. Moreover, there are no reasons why they should be inferior to the CBD. These regions have an abundance of amenities much like the CBD and what they have in excess that the heart of the city doesn't have is space.

- Sumangali Homes

Builders in Chennai

  

Before you Invest on a Real Estate Property in Chennai...

Real Estate in Chennai has been, over the past decade and a half, witnessing consistent demand for homes and commercial properties. The flats for sale in Chennai are being bought not just for personal stay but also for investment purposes. Residential Real Estate has grown by leaps and bounds in the city; Choosing the dream home, the right builders in Chennai and with no encumbrances form significant parts of a purchase decision. Of course buying a property, especially in a city with proliferating choices is quite a challenge.

Here is a list of tips one should know before investing or buying a property in a city like Chennai.

Chart your needs

Requirements of a home can vary from one individual to another. These are largely lifestyle and income related. When your requirements are defined, you save yourself considerable time in refined search. However, make sure financing, paperwork and other legal factors are duly looked at.

Legal check

The builders you have planned to go ahead with, must have required approvals and NOC from the Municipality of Chennai and other related parties including Electricity, Water Supply and Sewage Boards. Also, the property must have clear titles. The loan processing bank usually performs a legal check on the property and this gives great confidence to the buyer.

Proposed properties

Flats for sale in Chennai that are under construction or newly launched always offers more scope in terms of relaxed pricing. But apartments under construction must provide allotment letter and development agreement. The latter is an agreement between builders and the landowner offering permission to use and construct on that land. Builders in Chennai should possess title and possession to the constructed property, and the right to transfer. All dues including property tax, water and electricity must have been duly paid off.

Revenue and Registration

Elaborate understanding of Government policy, stamp duty and service tax helps buyers/investors decide on their choice of property. The final sale deed must be stamped and registered. Service tax is levied on payments made on apartments under construction.

Source: ET Now

When one has an adequate understanding of the policies & procedures, then investing or buying dream home is done safely. Real estate in Chennai is today booming and hence now is the right time to invest on properties of your choice at destinations that show favorable ROI.

- Sumangali Homes

Builders in Chennai

Property sale in Perumbakkam reaches New level

The new interest of the property buyers or Real Estate investors in Chennai is the flats for sale in Perumbakkam. Some years back, Perumbakkam was a no-man’s land with very frugal residential activity in the region, but today, Perumbakkam has emerged as one of the hot spots of Real Estate investment in Chennai. There are a number of reasons that easily make Perumbakkam a favorable investment option.

Price

The middle income and upper middle income segment of Chennai population find it near herculean to invest on properties in the Central Business District of Chennai. Regions such as Valasaravakkam, Tambaram, Perumbakkam..etc are in close proximity to CBD and yet offers relatively more affordable pricing in flats and other Real Estate properties for those community of property buyers.

Location

Perumbakkam enjoys a favorable location in all terms. Bound by OMR, GST Road, Tambaram, Medavakkam and Sholinganallur, Perumbakkam is all set to witness great progress along with these regions.

Infrastructural Progress

OMR’s IT expressway, the Metro Project, new transportation systems and other infrastructural developments tilt favorably towards the flats for sale in Perumbakkam.

Metro Project: Indiavision

Social Infrastructure

The region is today home to a number of avenues catering to the urban community. Perumbakkam has a number of premium educational institutions, several entertainment avenues like malls and best-in-class medical institutions thus creating more reasons for Real Estate growth.

Potential growth

Growth potential of Perumbakkam is quite high. Global property consultant Knight and Frank has researched that Real Estate appreciation is expected to be the highest in Medavakkam in the next five years. Perumbakkam is in the closest vicinity to Medavakkam and hence stands tremendous potential in terms of growth.

Owing to such current and potential demand, a large number of builders in Chennai are constructing landmark properties at Perumbakkam. Homes here are complete with aesthetic appeal, functional competence and best architectural standards. Today, the landscape of the region has changed tremendously. Vacant pieces of land have given way to construction of residential and commercial properties.

Finally, flats for sale in Perumbakkam are today the obvious hot properties promising exceptional ROI in the long run. These factors clearly contribute to the rise in housing demand in this region. Perumbakkam is a prime residential destination of Chennai that is home to a large variety of homes and properties. Studio style apartments, budget and economy flats, townships, opulent homes and spacious apartments are some of the kinds of properties one can choose from at Perumbakkam.

- Sumangali Homes

Builders in Chennai

The NRI Impact on Real Estate in Chennai

Housing demand continues to witness an upsurge regardless of economic conditions. When people find homes of their choice at ease with respect to location, price and comfort, their purchase decisions become quick, hence brings good to Real Estate investment in Chennai. Real Estate in Chennai is a great beneficiary considering these pointers vis-à-vis Real Estate market of other metros. Today, investor community in the country is a diversified group. Although, buyers continue to prefer apartments and homes in the range of 50 to 60 lacs, there continues to be pretty consistent demand for luxury homes. And this comes not just from affluent residents of the city but also from the NRI segment.

There is an increasing number of NRIs returning to India in connection with children’s education, need to live with parents or returning to their roots. Regardless of the reasons, demand for housing is also increasing simultaneously. The NRI population may have varied reasons to look at Chennai as a prospective market for Real Estate investment. 

Some of these reasons include

• Prices of apartments for sale in Chennai and other properties in Chennai continue to be relatively more affordable when compared to the prices in other metros like Mumbai or Delhi.

• Chennai offers more potential in terms of rising ROI since development trends are forecasted to be better in this city.

• Entry of diverse multinational industries showcase Chennai’s further potential to grow in the future.

Real Estate in Chennai is hence favorably considered by the NRI population. This community segment seeks luxury apartments for sale in Chennai and so the builders in Chennai have spawned a sudden interest in making opulent homes both in the Central Business District as well as in the suburban regions. The trend initially picked up in Bangalore and Hyderabad in the South and has today settled in Chennai. 

The term ‘luxury’ witnesses a landmark change in the Real Estate scenario today. Earlier, luxury homes meant a gated community with urban amenities, but today, luxury has assumed a mammoth change. People demand apartments/individual homes with exceptional interiors, bespoke fittings, swanky spa, pool in every apartment, private elevators, concierge and the works. They are willing to shell out anywhere between 5 to 24 crores for a property. 

Chennai is the most preferred simply because the buyers are most likely to invest in a very average home for this price in a metro like Mumbai. Real Estate in Chennai is thus a lucrative market to invest today since ROI prospects are very high and the city is also a safe place to live in.

- Sumangali Homes

Builders in Chennai