Chennai has for many years been the investors dream and is without doubt one of the top ten cities for ideal realty investment destination. The home session has steady absorption and the suburbs continue to witness the launch of new residential projects at an accelerated pace. Chennai has been the most preferred city in the entire South India and it continues to attract investments as it offers the best of educational, healthcare, infrastructure and good quality of life.
One of the key reason attributed by experts from the real estate sector is the high return on investment that an investor gets. It is obvious that real estate values will grow as new cities all over the globe rise on fortune’s wheel. Property rents and values will rise in line with new and growing economic strength. This has resulted in increased positive sentiments amongst the buyers which in turn has given a huge boost to realty developers. The developers are now constructing very high end residential properties and are confident in selling their properties the moment their project is announced.
Better late than never
The real estate market in Chennai is expected to see a drop in new launches in the near future, followed by a price hike, as piled up inventory would be consumed by the time and there would be more demand than supply. Property prices in Chennai have dropped and industry experts say that they will not decrease any further, therefore this could be the best time to invest. Experts also believe that in reality, the property prices were cut down some time ago and there is a possibility that prices may rise again. Once issues like lack of job opportunities and delay in government clearances are resolved, the property prices are expected to go up.
IT & Real estate
Owing to IT and industrial development, Chennai has become a realty hotspot. Chennai is one of the coveted real estate destinations across India, possessing immense employment opportunity, good connectivity and an abundance of housing options. The existing IT sector of the city has added to the demand for housing among professionals of varied designations. The developments of IT and ITES companies have brought a huge increase in the market. There was absorption of 4 million sq.ft. of commercial office space, predominantly by IT/ ITES companies, in 2013 alone. With the city’s IT population alone reaching 4.5 lakh, the indication is strongly towards the development of real estate along the outer areas of the city.
Chennai is constantly growing and emerging into a major IT, automotive and an electronic manufacturing hub. A lot of new companies are investing and setting base in the city, creating more employment opportunities thereby stimulating the residential demand in and around the city.Chennai and its adjoining cities are among the best for primary and higher education in the country today. Healthcare and medical facilities in the city are also among the best available in the country. Development of new hospitals, schools, malls and multiplexes in the emerging locations are all stimulating growth for the city’s residential real estate industry.
The public transport lines across the city are taking a turn for the better with more bus services and routes announced by the government facilitating faster and better commuting. Along with this, the Chennai Metro rail project which was launched recently and the Monorail project have gained momentum to drive residential prices along their respective corridors.
In Chennai, unlike in other Indian metropolitan cities, the residential market is driven by end users who constitute 80-90% of the buyers. This buyer base provides a strong foundation to long term investments in the city’s residential market as it reduces market volatility. Apart from Chennai city, locations close to the IT hubs, specifically on the OMR and ECR will witness a lot of traction and interest from buyers due to factors such as employment opportunities and development of social infrastructure. Chennai is a preferred choice among other metros in terms of residential investment and capital appreciation. So buyers should be optimistic as the residential market picks up pace this year and make a conscious decision to pre-empt the curve and ride the upswing.
The opportunity is now.
Are you Interested in buying M One homes for your luxurious lifestyle at a cost of Rs. 4,999/- per sq.ft? Call us at: +91 96424 93161. For more details on the floor plans, sq.ft per home and other amenities click here: M One – Best Apartment in Chennai