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Best Neighbourhoods In Chennai To Invest For Good Returns
Total Articles: 11
Buying a home in the metro cities is the new trend and Chennai is no different. The city is ranked 9th as the world’s best cosmopolitan in India, which is why many prefer buying a home here. Boasting about the new residential project in Chennai, the city is also growing with new industries in the vicinity and IT and ITeS being the major player, makes the property market in Chennai a preferable one. Some of the localities which that offer feasibility in terms of infrastructure, social infrastructure and good returns are:
Old Mahabalipuram Road (OMR)
OMR, the IT corridor is paving way for the real estate sector. With many reputed developers thronging with their projects, this location proves to be one of the best realty hotspots of Chennai. The whole stretch of OMR is populated with prominent players, creating their landmark venture. People who are working in the IT industries and SEZs nearby are major buyers of homes in OMR. The average price in OMR is around Rs. 4200 per square feet.
Located in the outskirts of Chennai, Oragadam is an industrial town which is centrally located between GST (Grand Southern Trunk-NH-45) Road and NH-4. The existing SIPCOT and various automobile companies springing around have brought this locality into the builder’s radar. The average rental value is Rs. 11 per square feet, while investing in villa plots inOragadam
, Chennai is approximately around Rs. 7900 per square feet.
Strategically located in the western suburbs of Chennai, Porur offers good connectivity to Kundrathur and Poonamallee as well as to Chennai –Bangalore Highway. Homes start from Rs. 5000 per square feet, making Porur an affordable city to live. After the opening of DLF IT Park, there has been an increasing demand of, 2 BHK flats in Chennai, Porur.
Currently, Medavakkam is the most happening realty hotspot and offers the best residential projects in Chennai. Medavakkam is India’s 6th largest real estate investment destination. It has been estimated that the property rates are expected to appreciate over 90 percent in the next five years. Owing to its proximity to IT corridor OMR and Sholinganallur, Medavakkam has witnessed the upswing in housing demand. Besides that, this area is experiencing a widespread infrastructure development in form of MRTS, connectivity to GST, and the proposed monorail project.
To sum up
If you planning to buy a home in Chennai and also looking for better return on investment, consider these locations for having an abode that gives you good returns in next five years or an investment home for better rental yields.
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