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Buyers Should Exercise Caution Before Investing In Properties In Chennai For Sale
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Builders often hide the fact that their properties in Chennai for sale are built upon lakebeds and tanks. Several flats for sale in Villivakkam are built in the middle of tank, which makes it prone to flooding, incase of heavy rain. Although builders have constructed properties for sale in Chennai at some height above the road so that flooding does not bother the residents but when last year’s rains had lashed the city none of these houses were spared from the horrors of water entering the premises. It is sad that some of the poshest properties in Chennai for sale share the same fate of flooding due to encroachments of water bodies.
There are thousands of properties for sale in Chennai and complexes that have been sold to unaware residents. Young professionals and end-users who bought because flats for sale in Villivakkam of its proximity to railway station are now stranded because of the uninformed decision they made. Investors, who bought properties in Chennai South after looking at the rapid appreciation in real estate prices, are also now regretting their decision. The capital city of Tamil Nadu is paying a high price for the unplanned rapid urbanization. The absence of proper drainage systems and lack on enforcement on encroached land has made the situation worse for the residents. Around two decades ago, Chennai and adjoining regions had around 650 water bodies but due to encroachment, only a few water bodies remain now.
Although the real estate prices of the city might soar in near future due to infrastructure development but will it still be worth all the pain to invest here? Under better infrastructure, one may see better roads, new flyovers, more SEZs and IT parks but whether a better water or drainage system will be introduced is a questionable matter. The simple way to avoid floods in Chennai is to salvage all major drains in the city but it is an unlikely situation to happen. Therefore, people looking to buy properties for sale in Chennai should exercise caution. Investing in flats for sale in Villivakkam and properties in other flood prone regions is not advised. Buyers should so a proper research before buying any properties in Chennai for sale. Try to talk to neighbors before buying a property if you are not acquainted about an area. It is best to avoid investing in areas that witness water stagnation because these areas might see flooding like situation eventually.
Makaan.com is a major real estate website of India that features cheap, budget, and luxury properties for sale in Chennai in different price brackets.
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