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
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