Is Buying Property a Good Investment Option in Chennai?
January 23, 2020
Chennai is a buzzing city fuelled by aspirations and opportunities. Its cultural melange and forward-looking lifestyle has attracted a major part of the country’s youth to settle down here. And why not? The IT corridor, economic growth and educational opportunities has made this city one of the most desirable locations in South India.
Chennai differentiates itself with its modern-colonial balance, which can be distinctly seen its unique architecture, local food, and a mixed bag of tourist locations. It is a smart city which has established a firm hold on its IT, automobile, and residential sector.
Over the years, Chennai has successfully transformed its colonial roots into a thriving metropolis. More and more people are choosing to start their livelihoods here, and others see great potential in its rental upswing. Now is a great time to invest in Chennai’s real estate sector, based on all that the city has to offer.
Buying a property in Chennai is a good investment option because of its rapid infrastructural growth and newer opportunities pouring in each day. The IT and automobile sector is a major growth driver, bringing in more and more people to better opportunities. More importantly, various different parts of the city are witnessing massive development in the residential sector, in order to provide luxurious apartments in Chennai that are in close proximity to workplaces.
Oragadam, Ambattur, Old Mahabalipuram Road, Thoraipakkam and Pallikaranai are few of the most popular neighborhoods for residential property development and investment. Not only are these locations witnessing rapid industrial growth, they have also become attractive suburbs that offer proximity to modern lifestyle conveniences, such as hospitals, educational institutes, shopping malls, and restaurants.
Chennai is also a great place to invest thanks to its excellent connectivity network in and around the city. The city’s infrastructure expansion in terms of roads, expressways, metro projects, and monorail corridors has reinforced its growth trajectory. It has significantly improved connectivity and accessibility, which is why people no longer feel the burden of traveling within the city.
Real estate in Chennai has truly evolved over the past two decades. From then to now, the rapid infrastructural development in all parts of the city have led to a rise in newer residential formats, such as townships overlooking the backwaters, with best-in-class amenities and luxurious Villas in Chennai. Additionally, the increasing urbanization has shaped Chennai as an attractive market for young couples and growing families to buy 1 & 2 BHK flats in Chennai. New upcoming residential developments are catering to different budgets, which is excellent if you are on the lookout to buy a house in Chennai. All in all, Chennai is a promising hotspot for those looking for luxurious, spacious homes that can support a modern lifestyle. Make the most of this investment timing, as this smart city is slowly headed towards significant real estate growth.