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Often referred to as ‘Detroit of India’, Chennai is the fourth most populated Metropolitan city in India. The foodies relate to this city as the land of “Idli, Vada, Sambhar” while music lovers associate it with being the hub of Carnatic Music. Not just this, Chennai closely follows after Bangalore as the second largest exporter of IT/ITES and software. In recent times, the demand for properties in Chennai has witnessed steady growth; this growth is not limited to just one segment but includes residential, commercial office space and commercial retail space.
Some Prominent Realty Trends in Chennai Real Estate
- With a booming IT/ITES sector, Chennai is attracting IT professionals from all over the country. These professionals having varied income levels have created a demand for properties in mid-end and value housing segment in the city suburbs. Properties in Chennai Suburbs are witnessing high demand both from investors as well as end-users. Some prominent residential projects in Chennai Real estate include Hiranandani Upscale Apartment (OMR), Park Avenue (Kelambakkam, OMR), The Art (Kothari Road, Nungambakkam)
- As far as Commercial Office Space In Chennai is concerned, the growth rate has been phenomenal in the past ten years. Again this growth is attributed to the growth of IT/ITES sector & the setting up of many IT Parks across the state. As per realty market experts, if the current rate of growth continues, the size of office stock in Chennai will reach the current size of Mumbai office stock by 2015. OMR tops the list in terms of the most preferred location for setting up IT office space in Chennai.
- The high end high streets of Chennai including Wallace Garden Road and Khadar Nawaz Khan Road (KNK Road), etc. have emerged as a hub of premium retail and fashion brands. Some factors that have contributed to the high demand for retail space in these locations are the availability of hassle free car parking area and proximity to the city centre. As per market experts, the suburban locations in Chennai will witness high demand from retail brands in the next few years to come. The reasonable rental rates of retail space and growing residential base here will drive this demand. Some operational & upcoming Malls in Chennai include City Center Mall, Express Avenue Mall, Market City, The Grande, etc.
These are just some of the prominent realty trends as far as Chennai Real Estate is concerned.
How tough could it be to find a suitable rental apartment – you would ask? If this question arises in your mind too, then you surely are one of those who have yet to undergo this situation. The idea behind this blog is not to scare you into believing that finding a suitable rental apartment is a traumatic experience, rather the aim here is to make you aware of the aspects you need to analyse while considering whether a property is suitable for you or not. Some important questions that you need to consider are mentioned below.
- What Is The Condition Of The Rental Apartment?
This is important because once you sign the rent agreement; you will be bound by the contract and will have to spend considerable hours each day there. So make sure beforehand that the property you are renting is liveable & suitable for your needs. Make sure that there is no seepage, the water supply is regular, proper drainage is available, plumbing and electrical system is in order, etc.
- Is The Rental Apartment Accessible?
Here accessibility refers to its location in the city & where proper transportation is available that connects it to other parts. Is it close to – your office, your kid’s school, the supermarket, a hospital? Another relevant aspect to consider is whether the Rental Apartment is located in a safe neighbourhood or not? Will it be safe to commute to your property at night? Have there been any reports of theft or robbery in the neighbourhood or nearby areas?
- What Is The Cost Of Renting The Apartment?
Does the rent justify the apartment in terms of size, condition, location, etc.? Does the monthly rental plan seem within your budget? How much tax and deposit will you have to pay? Consider all the recurring costs like monthly electricity and society bills when calculating the total costs.
These are some of important aspects that you will have to consider when you go out to find a suitable rental apartment.
Chennai (previously known as Madras) is the capital and the largest city of Tamil Nadu. Situated on the northeastern tip of Tamil Nadu, Chennai is often termed as the “Gateway to the South”. Over the years, the city has witnessed an accelerating rate in terms of infrastructural development, industrial expansion and educational growth. Without a doubt, Investing In Chennai Real Estate will sure prove beneficial in the long term. Here are some reasons why you should make investment in Chennai Real Estate.
- In the short-run, an aloft progress in Chennai Commercial and Residential Property prices is expected. This clearly indicates towards the improved stance of real estate participants particularly builders and developers in Chennai.
- In the long-run, the prices of Chennai Residential Real Estate are likely to increase by 7 to 10%. The reason behind this significant increase is the fact that the city has emerged as a major hub of industries and sectors such as automobile, electronic, IT and manufacturing.
- Certain locations in Chennai, typically including Porur and Sriperumpudur are reported to witness considerable boost with regard to inquiries and conversions over the last year. Besides, Thuraipakkam, Padur, Siruseri, Medavakkam, Kelambakkam, Perungudi, Navallur, Thiruporur, etc. are some of the locations where a number of luxurious as well as budget housing projects have been launched.
- The residential real estate market in Chennai is greatly influenced by the behavior of NRI investors. Several NRI investors having roots from Chennai are willing to invest in current and prospective commercial and residential projects in locations such as Navallur, Medavakkam, Perungudi, Kelambakkam and Siruseri.
- As the city has witnessed the launch of commercial real estate projects by prominent builders and developers, it is estimated that the price of the property may be significantly lower than as expected in the coming years.
In a nutshell, the interest of builders and developers in Chennai Real Estate is due to the fact that the city has commendably progressed in the past few years. Whether it is infrastructural facilities, educational and career opportunities or road connectivity that you look forward to as decisive factors to Buy Property in Chennai, you are sure to get pleased.
One of the first planned cities in India, also sharing the honour of being one of the regions with highest per capita income in Punjab – Chandigarh is a union territory in India. It is only the only place that serves as the capital of two states – Punjab and Haryana. The union territory of Chandigarh derives its name from the Goddess Chandi who has ancient temple dedicated to her in the city.
In recent times, there has been an increased demand for Residential Property In Chandigarh owing to the bright growth prospects. The city is also witnessing a huge investment demand which is concentrated on locations like Mohali, Mullanpur, Greater Mohali and Zirakpur.
Highlights Of Investing In Chandigarh Residential Property
- In terms of infrastructure, Chandigarh is second to none. It boasts of being the first planned city in India. The entire city is divided into sectors with each one being containing the best of amenities.
- There is an airport with the city. It also boasts of a well planned road network. There is hierarchy of movement on the roads as far as traffic is concerned. The careful segregation of roads into vertical and horizontal makes movement of traffic smooth and easy. One of the best things about investing in Residential Properties In Chandigarh is that the housing projects have been planned away from the busy roads to save the residents from noise and pollution.
- Metro connectivity is also being proposed to connect different locations across the city. The planned link will connect Panchkula to Mullanpur and Secretariat to Aerocity (Mohali).
- Zirakpur is among the prime locations witnessing a high demand from residential buyers, especially along the Ambala expressway. The upward surge in demand for residential properties here is attributed to the demand created by IT professionals working in Rajiv Gandhi Chandigarh Technology Park.
- A government study conducted in 2010 rated Chandigarh to be the cleanest city in India. Therefore, this city is popular among residential buyers looking for a clean space.
In terms of educational and medical facilities, Chandigarh rates among the top cities in Punjab. There is no dearth of employment opportunities and the technology park attracts seasoned IT professionals from all across India. These are just a handful of factors that make this city the right one for residential investment.
Changing Trends Of Real Estate Market
The developments in various fields have paved the way for the progress of Realty Market. The demand for land has increased drastically in the last few decades due to the expansion of urban settlements all across the world. This has led to rise of land rates of places which are experiencing rapid industrialization and urbanization [...]
Invest In Residential Properties In Ghaziabad
Ghaziabad is a beautiful city slumping in the state of Uttar Pradesh. No more considered a backward city, it is one of the fastest growing neoteric cities in the country. Giving haven to a considerable population and also providing them profuse opportunity to earn a living and have a quality lifestyle, Ghaziabad induces many real estate investors to come and invest here [...]
Real Estate Agents: Serving An Important Role
Finding the right property can be very demanding; many of us will agree. Scouting a proper location, locating the property, finding the contact details of the owners, getting the details verified, all the documentation work and much more; there is a long list of jobs that can be really tough for someone who is new to the procedures [...]
Residential Property In Noida
It was drastically growing population that caused the expansion of Delhi’s boundaries. As a result of that expansion, today the ‘National Capital Region’ of Delhi boasts of several prominent residential projects. Several surveys establish that property seekers all over India are very keen on Buying Residential Property In Noida [...]
It was drastically growing population that caused the expansion of Delhi’s boundaries. As a result of that expansion, today the ‘National Capital Region’ of Delhi boasts of several prominent residential projects. Several surveys establish that property seekers all over India are very keen on Buying Residential Property In Noida. And the high demand for Noida Property has resulted in the increased rates of apartments, plots, houses, etc. in the area. So, what are factors that are attracting property seekers towards Residential Property In Noida? Continue reading and find the answer.
- Excellent Infrastructure Facilities: The best part of Noida is its world-class infrastructural facilities. Apart from having excellent metro and road connectivity, this city boasts of well-developed civic infrastructure. Water supply, drainage system, underground power infrastructure and all such basic amenities are made available to all the residents in different parts of Noida. Besides, unlike the areas within Delhi, Noida doesn’t have issues of power failure.
- Numerous Job Opportunities: Today, there are several leading companies functioning in the remote areas of Noida. It won’t be an exaggeration to term Noida as a hub of IT/ITeS and BPO. Besides, several media houses are operating their channels, production houses, publishing houses and radio stations in Noida. With numerous job opportunities, it is likely that people are keen on Buying Residential Property in Noida.
- Affordable Real Estate: Even as the price of Property in Noida has considerably increased in past few years, yet it is fairly affordable to people with low incomes. The property rates in various parts of Noida are relatively lesser as compared to that of the property price in South Delhi. In several Noida Extension regions, property seekers can easily find ‘affordable locations’ with properties priced at approximately INR 3,000 – 4,000/ square feet.
- Improved Quality Of Life: The state-of-the-art Sports City, Golf Courses, Night Safari, Formula-I track, Expo Mart, Skyscraping Malls, etc. are some of the developments that clearly indicate towards improved quality of life of people living in Noida.
Apart from the above-mentioned factors, constant commercial & industrial developments, proximity to Delhi, excellent educational facilities, etc. are some of the factors that have drawn the attention of property buyers towards Residential Property In Noida.