Residential Properties in Chennai

Properties in Chennai at locations like Tambaram offer great value for money not just because of the quality of the homes but also because of the location.

Tambaram, is a suburb south of Chennai, it has also become an important manufacturing hub where a great deal of manufacturing activity has occurred over the past few years. Most importantly for us however, a great deal of upcoming properties in Chennai may be found at Tambaram, these are being constructed by some of the top builders in Chennai.  

When searching for affordable housing in Chennai a buyer may consider upcoming projects in Tambaram which  offer 1,2 and 3 BHK flats in Chennai with sizes ranging from 600 square feet for a 1 BHK unit to 1400 square feet for a 3 BHK unit. The upcoming projects in Chennai are expected to be completed by December of next year with prices for individual units ranging from 25 lakhs and 85 lakhs.

Property in Chennai, even at up and coming suburbs is still within the reach of most middle class buyers, of which Tambaram is a prime example. Even though this region of Chennai offers great physical infrastructure and has good quality schools and hospitals; properties in Chennai at Tambaram are evenly priced with most available for less than 1 crore.

A notable development by Vikaan Shelters in Tambaram has 2 BHK flats with a carpet area over 1000 square feet priced at a little over 50 lakhs. This is a prime example of high quality, well designed homes in Chennai priced at a rate within the budget of a middle class family. Other such notable developers in Tambaram with evenly priced homes include Pearl and Marutham Group.

Builders in Chennai largely develop homes knowing that the majority would be bought by end users and not investors. In Medavakkam, Indiabulls is a prime example of a top builder in Chennai constructing homes with this intent; Medavakkam is suburb not too distant from Tambaram with an excellent livability score as it has superb physical infrastructure and good access to social infrastructure. Many good builders in Chennai have developments in this suburb.

Despite a paucity of high end luxury builders, Medavakkam provides good quality homes to middle class families and considering the great connectivity this suburb has with Chennai, it makes a great destination for young families to own a home.

Properties in Chennai at suburbs like Tambaram and Medavakkam are largely priced below 1 crore, a few however may be slightly more expensive; this however is uncommon for these regions of the city. One property by a builder in Chennai has units priced between 50 Lakhs and 1.15 crore, although more expensive than most residential properties at Medavakkam it is still not priced extravagantly and may be within the reach of a few middle class or some upper middle class families.

The tendency of middle class families to live in the suburbs of a large city is not uncommon, new entrants into a city would almost certainly have difficulty living in a home downtown due to the high cost of the property or the high rental. Suburbs like Tambaram and Medavakkam provide the best opportunity for first time home buyers to buy a home; they provide a safe neighborhood with great connectivity to other parts of the city.

Buying property in Chennai at these locations may be ideal for such families.

  

    

Chennai a Promising Real Estate and Property Destination in South India

The Chennai Super Kings may be being suspended from IPL 2016, but when it comes to property rates in Chennai the real estate in Chennai seems to be undeterred racking up good growth and a pleasant rate of appreciation.

Over the past 3 years prices in the southern metropolis have appreciated by close to 7 percent and those prescient enough to have invested in real estate in Chennai a few years ago have been rewarded with a sizable appreciation in their real estate portfolio. 

What really makes Chennai stand out as an investment destination is the tremendous roaring energy in the city, and not just because global car manufacturing giant BMW recently rolled off its 50000^th car from its Chennai plant. Chennai is the largest city in South India and has some of the largest manufacturing plants in the country. It may not yet have caught up with Bangalore as an Information Technology hub, but Chennai in its own right has a growing Information Technology sector as well. With top notch physical infrastructure combined with world class colleges and universities, the city offers a great mix to propel it forward as an international business destination. 

All of the above has led Chennai to have a large and wealthy middle class with a disposable income higher than in many other parts of the country. The cities middle and upper middle classes continue to invest in real estate in Chennai leading to flourishing residential real estate market in Chennai.

Among the most attractive destination to buy real estate in Chennai is Thoraipakkam, a colleague who also happens to be my childhood friend mentioned that it may be the most attractive apartments in Chennai. Since I have known and trusted him for over 25 years, I tend to take his advice with great consideration.  

Thoraipakkam is a moderately expensive locality towards south Chennai with average price per square feet at slightly above 6,000 Rupees per square foot. Although this is well above the average property rates in Chennai which are close to 4,400 Rupees per square foot, Thoraipakkam is a really great place to live and raise a family my friend told me. There are many world class schools in the area such as The British International School and Gateway International School.

As rental income is far below the Chennai average of 42,000 Rupees per month, Thoraipakkam may be the perfect place if you are not keen to own real estate in Chennai and don’t mind paying an affordable rate of rent to live in the city. Thoraipakkam also has many great schools and malls nearby.  

If one is  keen to buy flats in Chennai, may consider Thandalam in West Chennai which is a suitable location. A recent project in this part of Chennai under construction by Amarprakash Developers offers 2 BHK flats in Chennai at an affordable price of only 18 Lakhs. With an EMI starting from a little less than 17,000 Rupees, buying a house here may be more affordable than owning car for the same period of time. 

As narrated by my friend, owing real estate in Chennai is well worth the money and according to him makes for a great long term investment. On my next visit to the city I intend to meet with a few acquaintances working with some of the top builders in Chennai in an attempt to glean more about this powerhouse of a city. 

Residential Real estate in Chennai

With a widespread noticeable quality and worldwide establishment, Pacifica Companies snatched Indian root in the year 2004 in Ahmedabad. Inside a limited capacity to focus, land specialist has spread its nearness in the urban groups of New Delhi, Chennai, Bangalore, Pune and Hyderabad. With global constructional models, the association has displayed their advancement aptitudes that have surpassed the desires of the clients, offering them with higher situating in realty society of India. Residential projects in Chennai, the skilled gathering of experts, who describes profitability of the association, buckles down in fulfilling their customer's fancies that makes gigantic slant for the association in overall realty business area.

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