Luxury Flats Largely Preferred Post Retirement in Chennai

Real Estate in Chennai is a dynamic scenario with even the smallest of changes causing major impact but change has nevertheless been the nature of the game especially in this South Indian city. Chennai has undergone gradual and rapid transformations in the last couple of decades. From being a primarily conservative Real Estate market to a liberal one, Chennai has seen landscapes rising and falling over the years. Even a few years ago, Chennai represented a highly affordable market but today many regions in this metropolitan city are inaccessible by the middle and upper middle income groups of people. Such is the magnitude of developments the city has witnessed in a very short span of time.

Changing Real Estate Landscape of Chennai

Having said that, Chennai also has its fair share of developing suburbs that are relatively affordable today but assure great returns in the years to come. While Chennai is expanding to encompass newer regions and suburban markets, the nature of residential properties here are no exception to the change. They are varied themselves and changing with the dynamic requirements of Real Estate investors and buyers. A number of builders in the city are today making relatively customized properties for the rich and elite who expect to see western influences and sophistication in their properties. The city that once housed a large share of independent homes is today inundated by modern apartments and high rises. Real Estate scenario in Chennai is today largely characterized by premium flats in every part of the city.

Preference of Flats post Retirement

While there can be many reasons that contribute to the preference of flats, a good reason for builders constructing these marvels come from the fact that the rich and elite of Chennai prefer to retire in posh flats that come with all urban amenities, safety and comfortable living during their retirement days. This is a prominent trend observed today. This community of investors have been selling their independent homes and moving to luxury flats that promise them a community living with safety, luxury and support. 

Video Courtesy: NDTV

Luxury was earlier associated only with certain regions in the city that included Adyar, RA Puram, Mylapore, Besant Nagar and Boat Club Road. Today, this perception is a little shaken as even suburban localities like OMR, ECR, Tambaram and Medavakkam are arriving with their fair share of luxury properties. Chennai is thus expanding in all dimensions.

A Glimpse of the latest Real Estate Destination in Chennai - Vengaivasal

Suddenly, the apartments in Vengaivasal are in great demand today. Located at just 30 kms from the Central Business District (CBD) of Chennai, Vengaivasal is today witnessing major Real Estate developments in Chennai. The region may be currently home to only a few hundred thousand residents but is gearing towards major developments in the years to come. Several premium builders of Chennai have launched a number of residential projects in Vengaivasal. And today, prices of residential apartments and other properties here are a lot more affordable when compared to many other parts of Chennai. However, the same cannot be said in the next couple of years.

Vengaivasal - What you need to know?

Vengaivasal located near Medavakkam is no longer a distant suburb lacking urbanization. It is a small and beautiful region located in the southern suburbs of Chennai city. It is today a developing suburb but one that shows immense potential to grow into a thriving residential locality.

Connectivity

Vengaivasal is well connected to many of Chennai’s prime destinations like Medavakkam, Kovilambakkam, Tambaram and Sithalapakkam. The growth observed in these areas has directly reflected on Vengaivasal that is today growing at a big rate. The suburb railway station at Tambaram is just 8 kms from the region. It is also connected to the Vengaivasal Bus Terminus. Central Railway Station and Chennai’s International Airport are all in the vicinity and enable quick and easy access to destinations within and outside Chennai. Connectivity to workplaces is also the best from Vengaivasal. All important commercial hubs of Chennai like the IT corridor at OMR, SEZ in Tambaram and other industries are well connected to Vengaivasal. Hence, people working in these places find Vengaivasal to be one of the ideal places to live in.

Property Values

One of the most important benefits in Vengaivasal is that although the area is receiving much attention and focus from Real Estate investors and industry experts, the region still enjoys the benefits of low property values and rental income, with the Sunday apartments in Vengaivasal earning special mention. 

Hence, home buyers and Real Estate investors are flocking to this region to reap large returns tomorrow. Apartments in Vengaivasal enjoy maximum benefits easily making them enjoy greater demand in the years to come.

Chennai has emerged as a city where investing in Real Estate property is challenging for middle income groups of people. This is when areas like Vengaivasal can offer abundant opportunities to develop and grow.

Video Courtesy: 99 acres

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  Sumangali Homes

Real Estate Builders in Chennai

The Current Best Real Estate Investments in Chennai

Chennai enjoys a special place when it comes to Real Estate. But since, every positive has some bit of negative shade in it; it is better to be aware and ignore the negative. So here we go, the best places of Chennai with positive attributes for Real Estate investment.

Interesting Property Search Stats of Chennai Public

The expectations and interests of the property buyers in Chennai,
most preferred and the least preferred property,
most sought after region...etc;.
Would be quite useful for the builders and property developers.

Where You should be Investing in the Next Five Years in Chennai?

Investing in residential spaces is no simple ordeal. They are for most investors, life altering decisions since a lot of money is at stake. However, a rightly chosen home can bring in exponential returns and immense satisfaction. There are many factors that go into the decision of purchasing a new or proposed property. Location plays a big role in choosing a property of your choice. The current market trends in Chennai draw favorable conclusions on specific pockets. Flats for sale in Chennai suburbs fall under such a category. Today, prospective buyers are in the lookout for up-market apartments and homes in suburban regions not only because of existing favorable reasons but also because of high ROI properties here promise.

Perumbakkam is one of those suburbs in Chennai where you should be investing in the next five years to reap large returns. There are a number of reasons why Perumbakkam is expected to rule the Real Estate roost. Here are some significant factors contributing to a purchase choice.

• Perumbakkam enjoys unparalleled location advantage. Perumbakkam is well connected to the two IT corridors, OMR as well as Sholinganallur through ECR Link Road. Enhanced connectivity between Perumbakkam and Siruseri establishes quick and easy commute to Siruseri IT Park. The setting up of Financial City in the vicinity multiplies location advantage in Perumbakkam. And because of these reasons, majority of flats for sale in Perumbakkam are bought by IT population.

• Perumbakkam offers a balance of all kinds of homes and properties. There are these large up-market apartments preferred by those with deep pockets and also the smaller homes that are afforded by the middle income groups of people. 

• Relatively reasonable land prices in Perumbakkam fuel the construction of villa projects since the area has an abundance of land that can be utilized for development of residential and commercial Real Estate.

A 3BHK Model Flat in Perumbakkam

All these reasons and more make Perumbakkam a favorable destination for Real Estate investment in Chennai. This is one region that you should consider investing in within the next five years to take home big returns on your investment.

Social infrastructure is being strengthened in suburbs of Chennai as the areas like Perumbakkam gears itself for a realty boom. As the flats for sale in Chennai suburban regions  are rapidly booked for delivery, the areas are also fast observing construction of hospitals, educational institutions and shopping malls to make life as close to the Central Business District as possible.

                                                                                                            
                                                                                                        

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How ECR became the Most Blessed Real Estate Destination of Chennai?

Some regions are home to excellent properties, great infrastructure, exceptional returns on investment and a wonderful lifestyle altogether. There are many pockets of Chennai that enjoy such privileges, and there are some others that do very well for themselves and for their residents. ECR(East Coast Road) is one such preferred Real Estate hotspot of Chennai. This scenic two lane highway along the Bay of Bengal stretches from Chennai to Tuticorin. Home to a number of premium resorts, theme parks, theaters and recreation destinations, ECR sits as the lovable cherry on the big Real Estate cake of Chennai.

ECR promises a number of advantages to those residing in its stretch. 

• The apartments for sale in ECR stretch of Chennai enjoy the benefits of a scenic backdrop as well as spacious and opulent homes that promise immense breathing space for the cosmopolitan culture. 

• There are plans proposed to extend ECR beyond Tuticorin to touch the southernmost tip of Chennai, Kanyakumari.

• Residents of ECR derive dual location benefits. They are in close proximity to the city and yet away from busy roads, congested traffic scenario, pollution and narrow roads.

• A large percentage of IT population prefers to stay in ECR because their workplaces are just a hop, skip and jump away.

• ECR is home to large homes like villas, farmhouses, beach houses, townships and spacious apartments that render an up-market lifestyle appeal to the entire region.

• Property rates, over the last 5 years, have jumped skywards in ECR. This stretch was one of the first suburban markets in Chennai to develop and is also easily one of the few that will be subjected to maximum capital appreciation in the long run. 

• Neelankarai and Palavakkam are two of the highly sought after destinations in ECR. These are two regions that receive maximum housing and commercial demand from Real Estate investors.

• Better infrastructure facilities in the form of bridges at Neelankarai, Kottivakkam and Palavakkam are expected to improve connectivity between OMR and ECR. This will ease the traffic situation in OMR for the IT population traveling between these places.

Source: NDTV

Properties in ECR are amongst the best in all terms and clear favorites when it comes to  farmhouses and the best answer for luxury apartments for sale in Chennai. There are properties in ECR for every section of buyer and thus makes an interesting choice for Real Estate investment in Chennai.

- Sumangali Homes

Builders in Chennai