Frequent question: Is buying flat a good investment in Chennai?

Buying a property in Chennai is a good investment option because of its rapid infrastructural growth and newer opportunities pouring in each day. … Chennai is also a great place to invest thanks to its excellent connectivity network in and around the city.

Do flats increase in value?

Houses usually grow in capital value more than flats. This is because flats are more likely to be leasehold, and in time, the lease term diminishes, which makes a flat harder to sell. The capital gain will depend on what type of house you buy.

What is the best investment in Chennai?

Best places for real estate investment in Chennai in 2021

Popular residential investment destinations in Chennai
Localities Average capital values (in per sq ft) Rental yield YoY
Korattur Rs 6,500 3.30%
Urapakkam Rs 3,950 3.19%
Choolaimedu Rs 7,400 3.16%

Is flat better than house?

What is better house or flat? … A house may be better for end-users but will involve higher capital expenditure and will also offer greater returns. A flat offers limited customisation options but has a lower cost of acquisition and maintenance also and is easier to liquidate.

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What is the life of flats?

The life span of a concrete structure is about 75–100 years, the average life span of an apartment is 50–60 years and a house is average 40 years. Although Eco-friendly and green constructions have a longer life span, minimal maintenance can help increase the life span of any building.

How can I double my money in 5 years?

Double Money in 5 Years

If you want to double your money in 5 years, then you can apply the thumb rule in a reverse way. Divide the 72 by the number of years in which you want to double your money. So to double your money in 5 years you will have to invest money at the rate of 72/5 = 14.40% p.a. to achieve your target.

Where can I invest my money in Chennai?

Top 10 investment options

  • Direct equity. …
  • Equity mutual funds. …
  • Debt mutual funds. …
  • National Pension System. …
  • Public Provident Fund (PPF) …
  • Bank fixed deposit (FD) …
  • Senior Citizens’ Saving Scheme (SCSS) …
  • Pradhan Mantri Vaya Vandana Yojana (PMVVY)

Which area in Chennai is developing fast?

4,300 – 8,200 per sq ft. Velachery is a fast-growing residential as well as commercial neighborhood in southern Chennai. The growth of this area is cited due to the IT sector growth. Also the upcoming metro expansion connecting Velachery with St Thomas Mount is fueling the real estate growth.

Are flats a bad investment?

There are of course disadvantages to buying flats as investments. Sometimes lenders see them as being a high risk. Flats also have small living spaces, with no opportunity to extend or convert a loft, for instance. There is usually a high turnover of tenants too, as well as hidden maintenance costs.

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Are flat worth buying?

Buying a flat or a house is a significant investment, so naturally, you’ll want to ensure that you maximise your potential returns. … On the other hand, they typically have a lower purchase price than houses and the costs of maintaining the building is shared, so there is potential for high cash returns and yields.

Do flats have resale value?

There is no resale value for Apartments in Bangalore.

Should I buy a 10 year old flat?

The prices vary depending upon a number of factors like city, locality, brand name of the construction company, age of the flat and many others. The resale flats are an affordable solution to the accommodation needs of the salaried individuals. However, these come with certain unintentional repercussions as well.

What happens to my flat after 100 years?

The development authority of a particular area provides land development rights to developers and sells properties for a lease of 99 years. This means that anyone who purchases a residential or commercial property will own it only for a period of 99 years, after which the ownership is given back to the landowner.

What is the life of apartment in Chennai?

Normally life of an apartment is 50 years approximately. In chennai near perungudi toll an international residential developer came up with an project. They are unique in everything like layouts, floor plans, construction technology called SSGF.