Chennai is one of the fastest growing real estate market of the country and has a great potential of high investment returns. Real estate experts suggest that property investors should consider Chennai’s real estate markets. However, it is very essential to consider the factors to reasons to invest, before actually investing. Let’s discuss some of the reason to buy homes in Chennai:
Prominent investment market
Chennai has a thriving potential of property market and high value in future. Being the golden opportunity for property investment the city has attracted several business, industries, property and home buyers not only from India but NRIs as well.
Chennai has several ongoing infrastructure projects such as metro-rail extension project, elevated expressway, Chennai-Bangalore industrial corridor, sub-urban railway extensions. These projects have led to creating interest among property investors and further boosted the valuation of surrounding property.
Connectivity plays a vital role in determining the demand and value of property. There are several projects undergoing to develop the connectivity in the city. Better and express roads will effectively connect the neighbourhood areas and improve commute.
IT sector has changed the market dynamics of the country in a great way. Being one of the best paying industries, IT sector has attracted several working professionals from the country. This has further led to good purchasing power and created a great demand for residential properties in Chennai.
Upcoming property projects
There are several property projects coming up from various developers and builders. Hiranandani Parks is one of the huge project by Hiranandani in Chennai. One of the most reputed and renowned builders, Hiranandani Parks, Chennai is a township project. It offers varied options such as studio apartments, 1BHK, 2BHK, 3BH flats as well as villa plots in Oragadam, Chennai.
Low interest rate
Over a period of time financial institutions have lowered the interest rates. Hence, property investors and home buyers can save good amount of money. The real estate market of Chennai has a huge potential for better property value and good returns in the coming years.
Property depreciation in Chennai is really lower as compared to the other cities. The constant demand for property and structural quality of property which is generally maintained above the set standards results in lower depreciation value.