Is real estate a good investment in Chennai?

The previous few years have shaped some best forms of investment potentials in Chennai for the home-buyers. Chennai is considered to be one of the top twelve real estate markets in the world and is also one of the safest real estate investment spots.

Is it right time to invest in real estate in Chennai?

The spending capacity of the average buyer has opened up again to make wise investments. Economic growth has improved across all sectors, with the real estate sector steadily rising. Here are compelling reasons why 2021 is the best year to invest in real estate property, especially in Apartments in Chennai.

Which is the best area to invest in Chennai?

Best Residential Areas in Chennai to Invest in 2021

  • Porur. Porur is located along the Mount Poonamallee (MP) Road in the West. …
  • Ambattur. Ambattur is one of the most popular residential areas in Chennai. …
  • Pallavaram. …
  • Oragadam. …
  • Guduvancheri. …
  • Old Mahabalipuram Road (OMR) …
  • Pallikaranai.
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What is the future of real estate in Chennai?

Housing sales in Chennai is likely to increase by at least 30 per cent this year, while prices may rise by up to 5 per cent on the revival of demand for residential properties because of lower interest rates and economic recovery, property brokerage firm PropTiger said on Wednesday.

Where can I invest in real estate 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) Capital appreciation QoQ
Urapakkam Rs 3,950 3%
Choolaimedu Rs 7,400 3%
Pallavaram Rs 5,950 3%

Which is the richest area in Chennai?

8 of the Poshest Localities of Chennai

  • Boat Club. The Boat Club area is in Alwarpet and is one of the most expensive localities in Chennai. …
  • Poes Garden. Poes Garden is another top end locality of the city. …
  • East Coast Road. …
  • Nungambakkam. …
  • Velachery. …
  • Adyar. …
  • Gopalapuram. …
  • Besant Nagar.

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.

Is it worth buying land in Chennai?

The value of real estate in Chennai and in most other parts of the world increases overtime, because land gets scarcer, so this means when you buy property in Chennai today, its value is likely to be worth a lot more in the future, than it was when you purchased it.

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How much will cost to build a house in Chennai?

Construction Cost in Chennai in 2021

The construction cost in Chennai will range from 1450/sq ft to 4500/sq ft and will vary for ultra-luxury homes. This translates to Rs 14,50,000 Rs for an ordinary house and Rs 45 lakh for an uber-luxury home.

Which is the best place to buy plot in Tamilnadu?

Here’s a look at Tier-II cities of Tamil Nadu that real estate experts believe have ample potential.

  • Coimbatore. Coimbatore’s plus point is its electronic manufacturing cluster, Codissia Industrial Park and the upcoming IT developments. …
  • Madurai. …
  • Salem. …
  • Trichy.

How wealthy is Chennai?

Recent estimates of the economy of the Chennai Metropolitan Area is around US$78.6-86 billion (over $200 billion with industrial zones; PPP GDP), ranking it from fourth-fifth most productive metro area of India, and the third highest by GDP per capita.

Is it safe in Chennai?

OVERALL RISK : HIGH. Generally, the city is considered to be the safest one in India. There is no violent crime, but petty crime acts cannot be avoided in such a huge city.

Which is the developing area in Chennai?

One of the fastest growing residential areas in India, Pallikaranai is a hot favourite destination for investors. Located in South Chennai, the locality is in close proximity to the OMR (Old Mahabalipuram Road), which is one of Chennai’s biggest IT/ITeS corridors.