Investing in real estate in an ever growing metro city like Chennai always gives you good returns in the long term. Chennai has become the second home for most of the investors to invest in Real estate. Here are the 10 reasons why you have to invest in plots in Chennai.
Excellent Location: Chennai is a city that is well connected with the rest of the country. It has a strong transport network, making it easily accessible for both residential and commercial purposes. The city has excellent road and air connectivity, which makes it a preferred location for investors.
Growing economy: Chennai is one of the fastest-growing economies in India and has a high demand for both residential and commercial properties. The city is home to several multinational companies, IT companies, and start-ups, which are contributing to its growth.There is huge demand for real estate in micro markets like Velachery, Medavakkam and in OMR corridor. Post covid the searches for flats for sale in Thoraipakkam and for plots for sale in OMR has increased exponentially.
Affordable cost of living: Compared to other cities in India, the cost of living in Chennai is relatively low, making it a preferred location for families and individuals who want to settle down in a city with a good standard of living.
Favorable climate: Chennai is known for its tropical climate, which is characterized by hot summers and mild winters. This makes it an ideal location for people who love the warmth of the sun and enjoy outdoor activities.
High demand for residential properties: Chennai has a high demand for residential properties due to its growing population, which is a result of migration from other cities and towns. This high demand has resulted in a steady increase in the price of properties in the city, making it a good investment opportunity.
Growing real estate market: The real estate market in Chennai is growing at a fast pace, and there are several new projects being launched every year. This is due to the increasing demand for both residential and commercial properties in the city.
Good rental returns: Investing in plots in Chennai can also provide good rental returns. The city has a high demand for rental properties, and the rent for a residential property can range from INR 5,000 to INR 50,000 per month, depending on the location and the size of the property.
Appreciation in property value: Over the years, the value of properties in Chennai has appreciated significantly, making it a good investment opportunity. This appreciation in property value is a result of the growing economy, increasing demand for properties, and the growth of the real estate market in the city.
Availability of various options: There are several options available for investors in the real estate market in Chennai, including plots, apartments, villas, and independent houses. This variety of options makes it easier for investors to find a property that fits their budget and requirements.
Good infrastructure: Chennai has good infrastructure, including hospitals, schools, and shopping centers, which makes it a preferred location for families and individuals. The city also has a strong social infrastructure, which includes a vibrant cultural scene, several recreational facilities, and a thriving nightlife.
In conclusion, investing in plots in Chennai is a wise decision due to its growing economy, favorable climate, high demand for residential properties, growing real estate market, good rental returns, appreciation in property value, availability of various options, good infrastructure, and affordable cost of living.