North Chennai has emerged as one of the top destinations for homebuyers in recent times. The allure of affordable pricing, open spaces, good roads, rail and metro connectivity and growing social infrastructure are among the top reasons why more and more homebuyers are flocking to North Chennai. Apart from residents who have made North Chennai their permanent home, a growing number of people are eying the area from an investment perspective. Let’s take a look at some key factors that make North Chennai the best hub for real estate investment.
Value appreciation: Every real estate destination experiences a boom at some point, and this is exactly what North Chennai is currently experiencing. As residential real estate markets in South and Central Chennai are reaching saturation limits, people are looking at properties in North Chennai for living as well as for investment purpose. The increased demand for homes in North Chennai has ensured good appreciation in property prices. The appreciation is up to 9 percent per annum in North Chennai and this is expected to improve in the coming years.
High Liquidity: One of the defining aspects of a good investment is that these can be easily converted into cash. The residential real estate market in North Chennai offers high liquidity, as properties can be easily sold at the best prices. Property investments often require lakhs of Rupees and if there is a problem in selling, it can lead to a huge loss to the homeowner. However, there are no such problems in North Chennai since there is an abundance of buyers in the area. Last but not least, homeowners can expect to get the best price for their property in North Chennai.
High occupancy rate: Rental homes in North Chennai are in great demand and the occupancy rates are quite high. It’s uncommon to see an apartment in North Chennai remaining unoccupied for long durations. This ensures that the homeowner can derive maximum revenue from his rentable apartment. Rentable homes remaining vacant for even a couple of months can cause significant loss to the homeowner. North Chennai acts as an insurance against such losses due to the high demand of homes in the area. The return on investment (ROI) for homeowners is profitable only when maximum rent can be obtained from their property. A rentable home in North Chennai makes it easier to achieve this objective.
Good people and neighbourhoods: The quality of life depends on a lot on the type of people living in the neighborhood. North Chennai gets top marks in this domain, since most of the homebuyers in North Chennai are from middle class and upper-middle class families. North Chennai has also become a preferred realty destination for High Net-Worth Individuals (HNIs) and Ultra High Net-Worth Individuals (UHNIs), who are increasingly investing in top-end luxury homes and luxury apartments. The growing population of educated, working class and wealthy people in North Chennai has ensured the best possible neighborhoods. Here, one can expect to live in complete peace and security.
Real estate investments are considered as one of the most secure and reliable forms of investments. This is especially true for a vibrant, flourishing city like Chennai where demand for living spaces has been continuously rising. With a booming economy and a young workforce, Chennai will need a lot more dwelling units in the coming years. If you are planning to invest in real estate and want the best returns from your investment, you can consider investing in a home in North Chennai. The reality market in North Chennai is currently in its accelerated growth phase and there’s huge potential to be unlocked in the years ahead.