The Big 3 Real Estate Rating Agencies in India

All the three agencies rate the Real Estate builders and property developers based on certain criteria compiled by them. The criteria includes profile scanning of the builders, construction quality such as environment friendly, innovation ...etc

The New Beginning of the 1 BHK Flats in Chennai

The 1 BHK flats have arrived with a bang in Chennai to make a statement, a difference, a much needed one. Small, compact, trendy, reasonable..etc, had them all for the contemporary buyer. They spell luxury of a different kind.

Model Flats of Sumangali Homes

 

The Pleasing Characteristics of Perumbakkam from Real Estate Perspective

Chennai Real Estate favors certain pockets of the city a lot more than it does with the others. Perumbakkam represent a classic example of such preference, particularly with residential flats. A few years ago, Perumbakkam was relatively unheard of in the Real Estate circle. The region had vast expanses of agricultural land with very little development to talk about. But, today the landscape of Perumbakkam is almost entirely different. Perumbakkam represents a contemporary place in Chennai lined by multinational business, retail centers, also the infrastructural development and modern high rises. It is no wonder why regions like Perumbakkam feature in the most sought after destinations for Real Estate investment in Chennai.

Some distinct reasons 

• Perumbakkam is well connected to every important region of the city. Even if you have been a Central Business District (CBD) dweller, Perumbakkam connects you well to the CBD through a good transportation system.  

• Proximity to OMR invites interests of IT public that prefer to cut down their commute time to and from work. Professionals working in Sholinganallur, GST Road and ECR find Perumbakkam an ideal suburb for living in.

• There are a number of Real Estate options in Perumbakkam, residential sector in particular. One can choose from the abundance of living options, either the flats or the villas, over and above many other residential localities of Chennai.

• Perumbakkam is only on the brink of development and hence Real Estate here is still more less priced when compared to most other areas of Chennai. Pricing advantage in Perumbakkam gets eyeballs especially because returns on investment are expected to be exceptionally high.

• Many parts of Chennai, some even in the CBD, face the dearth of pure drinking water. Perumbakkam has a large water source and hence it is never a problem here. 

• Perumbakkam is no exception to social infrastructure you can find in any other part of Chennai including the CBD. Today, Perumbakkam has a number of educational institutions, entertainment avenues, malls, retail centers and hospitals and other medical facilities besides a lot more.

Podar Jumbo Kids- A Kids Institute

• The flats for sale in Perumbakkam have a greater number of basic and urban amenities especially because large pockets of land facilitate the construction of self-sufficient paradises of living.

• Nearly every premium builders in Chennai has shifted focus to Perumbakkam thereby accelerating the Real Estate development rapidly.   

- Sumangali Homes

Real Estate Builders in Chennai

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