Madhavaram, North Chennai is one such locality in Chennai, Tamil Nadu that has a delightful blend of modernity and tradition. This place has maintained its rich heritage and tradition while adapting positive influences of modern culture. Moreover, Madhavaram has also shown a great price appreciation in Northern part of Chennai over a decade. In just a few years of development, Madhavaram has become a prime real estate hub in Chennai.
Investors who have invested in Madhavaram Chennai have clearly acknowledged that this place has better infrastructure and connectivity than any other part of Chennai. The most important factor that’s attracting investors towards Madhavaram Chennai is the reasonable cost of living which allows a comfortable yet risk-free lifestyle that any investor with a plan for the future will not resent. Last year, the real estate sector was hugely affected by the demonetization act, but soon the economic activity resumed and on the good side the market has turned in favour of home buyers. If you are planning to buy a home in Madhavaram, then the right time is now. Here is why:
Demonetization affected almost all sectors of the country including real estate. With less cash in hand, a large corpus of buyers discontinued the market and all that sellers could do is wait. This resulted in a reduction of overall market prices, thereby benefited and encouraged new buyers to invest in real estate.
Developers in the city are reported to be dropping their property prices by up to Rs 20 Lakhs on projects that are moving slowly. Even top real estate developers in Madhavaram are offering discounts on per square feet rate to move up sales. Another fact that buyers need to consider is that demonetization has already resulted in a reduction of home loan interest rates, which are expected to reduce further.
20% lower price comparatively
There are a number of reasons why buyers are advisable to invest in Madhavaram, North Chennai compare to South Chennai. One, because South Chennai boasts no space for new establishments, and two, because of the price factor, which is almost 20% lower than any other parts of Chennai. Madhavaram now has become an epicentre in North Chennai as far as a high-rise building is a concern. These high-rises buildings offer affordable housing for new investors.
Improved Connectivity and Better Infrastructure
Apart from the price drop, Madhavaram has also improved on its connectivity factor. The Chennai Metropolitan Development Authority is soon developing satellite inter-city bus terminal on GNT Road at Madhavaram, which will help people to travel inter-city. The most awaited Chennai Metro Rail project Phase-2 that is expected to begin this year will have three corridors, including 2 in Madhavaram. The area is also proposed to have a rail depot at Madhavaram Milk Colony for maintenance of stations. Further, recent roads are built in such a way that there is no water logging even during heavy rains.
New Projects with Superior Amenities
Of late, Madhavaram area has experienced many new projects coming up with superior amenities such as Swimming Pool, Gym, Party Hall, Conference Hall, etc. Madhavaram is also becoming a preferred destination for popular developers due to its high-quality groundwater and close proximity to areas like Perambur and Parry’s Corner. Moreover, these amenities of a satellite township are offered to buyers at a much lower price than regular establishments such as Anna Nagar, ECR or Adyar.
If you are looking to buy an affordable flat in Madhavaram Chennai, then you will have a plethora of options to choose from. Go ahead and experience the joy of living in this calm and neat place!