Investment in Real estate of Chennai seems to have excellent future prospects.
Real estate in Chennai showcases a vibrant market with a lot of positive sentiment amongst the buyers seen in the last few years.
Infrastructure
Chennai has grown into a major IT, automotive and an electronic manufacturing hub. A lot of new companies have moved into the space with an intention to set up their base in the city, creating more employment opportunities. This has also fuelled the demand of residential property in Chennai. Chennai and its adjoining cities are among the best for primary and higher education in the country today. Presence of acclaimed colleges and institutes pull a good number of students from different parts of India. Healthcare and medical facilities in the city are also among the best available in the country with a number of big hospitals. Apart from the robust social infrastructure, the city offers plethora of fun and entertainment avenues such as malls, multiplexes, shopping complexes and many more. All these factors have combined together to spur the growth of Real estate in Chennai.
One more factor that has significantly enhanced the attractiveness of the city is the excellent connectivity and transport facilities -
Public transport
The public transport lines across the city are taking a turn for the better with more bus services and routes announced by the government facilitating faster and better commuting. Along with this, the Chennai Metro rail project which was launched recently and the Monorail project have gained momentum to drive residential prices along their respective corridors.
There are several infrastructure projects that are at different stages of construction and planning, once functional, is expected to transform Chennai into a much better city, also stimulating the residential property market. These projects include Chennai Metro Rail, Chennai Mass Rapid Transit System, underground drainage, bus terminus, interlinking of CMRL, MTRS & sub-urban rail network. The peripheral road connecting Mahabalipuram to the Chennai port, once completed is expected to have positive impact on residential property in Chennai. The extended expressway built along the GST is envisaged to cut the traffic woes and boost the connectivity further.
Chennai has been the dream destination for many years and is undoubtedly one of the top ten cities for ideal realty investment hotspot. The home segment has steady absorption and the suburbs continue to see launch of new residential projects at a very fast pace. Chennai has been the most preferred city in the entire South India and it continues to attract investments as it offers the best of education, healthcare, infrastructure and good quality of life.
One of reasons that has played an instrumental role in driving real estate market in Chennai is the high return on investment. It is obvious that real estate values will grow as new cities all over the country rise on fortune’s wheel. Property rents and values will rise in line with new and growing economic strength. This has resulted in increased positive sentiment amongst the buyers which in turn has given a huge boost to realty developers. They are now focusing on high end projects that offers luxurious amenities and top notch infrastructure. It appears as a great for the investors as it is expected to fetch higher returns in future too.
