Tips to find best real estate property to invest in Chennai
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Posted by :
on | Jul 29,2015
Real Estate in India has been growing consistently every year. Real Estate is a major factor to our national economy and contributes almost 5% to our Gross Domestic Product. The main reason for the prosperity of real estate in India is due to the increasing urbanization and establishments of many Multi-National Companies. Indian Real Estate is indeed a flourishing field but it is Chennai which proves to be a stable real estate investment and also provides better returns.
Nowadays, a lot of people want to find out how to make money in Chennai properties. Unfortunately, not everybody possesses the knowledge or skill to be successful at it. Before buying a property you must develop a good feel for local property values which will give you a better understanding of the neighbourhood to make a good decision.
Some of the features why Chennai is best for property investment purpose are it is ranked in the list of 12 cities in the world to invest in Real Estate, Increasing Market Value, Lower Depreciation, Realistic Price, Steady Incraese of Property Value, Consumers are end users, Increase in the Trend of Renting Home, Better returns for Investment, High Employment Oppurtunity, Manufacturing Hub, Well established roadways and transportation, Stable Property Prices, IT sector, Largely Unexplored and Chennai is Safe.
Find a market you enjoy. If you specialize in one area, it will be easier to be successful. Whether you plan to flip a house, purchase a rental property or buy foreclosure, you should buy what you know. Some of the hotspot areas for Real Estate in Chennai are OMR, ECR, GST Road, Tambaram, Poonamallee High Road, etc. These places are considered as hotspot of Chennai because of its proximity to work places, school, colleges, hospitals, etc and well developed areas with High Demand for properties.
Before buying a property location is paramount when considering a real estate purchase. Even a ramshackle property can be a wise investment if it is located well. Keep location as well as potential in mind. Ex: OMR, ECR, GST Road, Tambaram, Poonamallee High Road, etc. Whether you're a first-time buyer, investor or existing homeowner, you need to understand the best locations for your investment.
If you wish to invest in more than one property as time goes by, try getting them within a single geographical location. Needless expenses, such as fuel and time, can be avoided. Steady increase of value, no sudden depreciation and no depression phase makes Chennai the perfect place for investing in real estate. A lot of demand for investment has created a suitable and growing real estate market. A considerable amount of these investors are NRI who grew up in Chennai.
The consumers who invest in real estate in Chennai are mostly end users. The main factor which drives investors for investing in real estate is the huge capital appreciation that they would benefit from. When compared to other major cities in India such as Mumbai and Kolkata, property prices in Chennai are more affordable and worth the price. This is one of the compelling factors that drive the real estate business forward in Chennai.
Real estate prices within the main city are skyrocketing. For instance, prices of apartments in areas like Anna Nagar, Besant Nagar and even newer areas like Chrompet are in the range of nothing less than INR 5,000–10,000/sq. feet. Guduvanachery, despite being a popular residential neighborhood and hotspot, has prices of flats in the range of INR 3,200–3,500/sq. feet, which is extremely reasonable as compared to the prices of real estate in the core areas of the city.
Most of the workers in Chennai are not interested in buying properties since they are not sure as to how long they would be staying and so they rent houses. Renting houses would provide you monetary returns every month and would put your invested property in good use.
Chennai the perfect place for investing in real estate. A lot of demand for investment has created a suitable and growing real estate market. A considerable amount of these investors are NRI who grew up in Chennai.
Chennai real estate provides numerous options for consumers across various budgets. Investors are provided various options over various budgets making real estate investment in Chennai a lucrative choice. The area where the property is located and the configuration of the property greatly influences the property price.
Investing in real estate at Chennai is guaranteed to provide you better capital appreciation and the properties can be bought at affordable rates. If you are interested in investing in properties and want your money to be put into good use, and invest now as there is no better time than.