Plots Become Preferred Choice Of Investment In Real Estate Chennai

Real estate Chennai is seeing a paradigm shift in demand. People who are looking to invest in a property in Chennai are looking to invest in plotted land rather than flats or apartments. Builders of properties in Chennai too are keener to launch plotted layouts over flats and apartments. Well-known builders such as Hiranandani, TVH, Olympia and Akshaya have already launched plotted layouts. Builders launching plotted layouts get to avoid long-gestation period which is involved in developing a high rise. The plotted layout can be developed and marketed in a few months also the sales movement of the same is fast in the city as traditionally people prefer to buy land over apartments in the region.

Real estate sites point out that the real estate Chennai is facing a slump and there is a huge unsold inventory. According o some estimates more than 50,000 properties in Chennai lying unsold. This is leading to losses to builders of property in Chennai who are now cash crunched as they have already invested huge capital in developing high rise apartments.

If one looks at the past trends then one will notice that originally people preferred to invest in plots and land in real estate Chennai. For people in South India buying a property in Chennai and buying gold is considered the best financial decision. Apartments and high rise became a choice of youth much later when people started migrating to Chennai and lifestyle considerations changed. If one check real estate sites then one will notice that a lot of builders are now again launching plotted layouts. Long term investors of properties in Chennai too look to invest in land as they offer more price appreciation in the long run. Price trends on real estate sites also show that land give much higher ROI over five-six year period horizon. 

Singaperumalkoil Assumes Importance As a Residential And Commercial Zone

Property in India has been a mixed bag when it comes to all the major metros in the country. Chennai, in particular, has always witnessed certain stability in terms of overall market progress and demand. However, the city has not been able to shake off the saturation that took place in both Mumbai and Delhi and caused a market shift and greater progress in Navi Mumbai and NCR respectively. The limits of the city have been rapidly expanding and several new destinations are being billed as the new progress hubs of the future when it comes to both commercial and residential realty in tandem with infrastructure development. Singaperumalkoil is one such area which has managed to capture a large part of the demand for Chennai properties in contemporary times. Aspiring buyers of properties in Chennai are now focusing on Singaperumalkoil for its growth as a major automotive and IT hub. Analyses on Indian properties throw light on the strategic linkage of Singaperumalkoil with other parts of the city through the important Grand Southern Trunk Road along with the influx of several leading companies like Dell India, Capgemini and Infosys here as two major factors behind the locality’s growth. The Mahindra World City has been a major development here along with the influx of Ford Motors. These commercial developments have led to the growth in infrastructure in and around the area along with the creation of highly coveted residential clusters all around.

The Chennai property market is witnessing steady growth on account of high performing zones like Singaperumalkoil. The locality is well connected to major industrial hubs and corridors and the National Highway 45 is also accessible from it. The development of the GST Road into 6 lanes will also boost progress in the area. Several leading developers are now building projects along the GST Road itself. Several luxury townships are also being developed here. Proximity to OMR and Oragadam is another prominent reason behind the rapid growth of the locality as a preferred residential zone. The development of several SEZs and business clusters in the future will also spark greater demand for property in Singaperumalkoil.

Houses for Rent in Chennai

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Looking out for flats for rent in the city of Chennai? Well, there are numerous options available, not only in terms of location and price range, but also by residential type, number of bedrooms, and age of the property. Being a metropolitan city, there is no dearth of rental Chennai properties scatted in almost all its parts. Depending upon where do you prefer it and what cost you are willing to spend, you can  search the properties Chennai like Madipakkam properties online. 

Properties in Chennai like Madipakkam properties as small as 1-BHK and as spacious as 5-BHK, and even bigger than that, can be rented at your disposal. And as per your requirements, properties Chennai like apartments in Madipakkam come as unfurnished, semi-furnished, and fully-furnished types. Then, depending upon how old a rental house you prefer, you can narrow down your search for Chennai properties. Flats, decades old, or relatively new, or under construction are available to choose from. Seekers can also go for rented houses that have come into existence only recently and are ready-to-move-in. 

There is a broad price-range that is getable for the seekers of properties in Chennai: rentals beginning at a few thousands and going all the way upto lakhs, thus fitting the budgets of almost everyone. As far as rate per sqaure feet is concerned, it is open for negotiation. You can strike a deal for properties Chennai like for apartments in Madipakkam with the owner/landlord and fix the price that seems befitting to both the parties.

For those who are looking out for luxury in your rental Chennai properties, there are pretty good choices for that too. You can make a search depending upon the amenities provided: sophisticated designs, plush interiors, strategic location, availability of malls, swimming pools, clubs, gyms, and parks nearby. A few of you may be very cautious about vaastu one can also rent vaastu compliance properties in Chennai have been built in compliance to Vaastu rules.

Indiabulls Buys Chennai Property at 600 Crore

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One of biggest transactions has been witnessed in the Commercial property Chennai market. Indiabulls Distribution Services an arm which is owned by the Indiabulls Securities, has recently bought a commercial property at Chennai. The complex of commercial property Chennai has been purchase for Rs 600 crore. Earlier this property at Chennai was owned by India Land and Properties which is owned by a hedge fund called the Americorp. 

It is believed that the property at Chennai has been purchase at Rs 2,500 per square feet. Experts believe that the property Chennai has been purchased at a decent price. The commercial complex hosts three towers which have a built area of 2.4 million Sq. ft as well as leasable area of around 2 million sq ft. As the property is a ready one Indiabulls considers it as a good deal. The complex measures 10 acres and around 50% of the complex properties in Chennai has been leased out to companies such as Royal Bank of Scotland, Britannia Industries Limited, Ajuba, Kone Elevator, Telebuy, Covenant, IBox among others. Indiabulls is currently planning to rent out out the remaining properties in Chennai. 

The company is planning to fund the property Chennai transaction through private equity funds as well as internal accruals. Indiabulls is also planning to rename the commercial complex as One Indiabulls Park, Chennai. However, the company states that the deal has no connection whatsoever with the Indiabulls Real Estate which is the real estate arm of the Indiabulls group.

Recently several prominent high value transaction have taken place in key southern markets of Chennai, Bangalore and Hyderabad. Recently in October 2014, Flipkart a leading online retailer had entered into one of the biggest commercial property deal in India in Bangalore. This move movement in the much stagnant Chennai realestate industry.

Demand for Chennai real estate grows manifold

In the recent years, there is a rise in the demand of the properties in Chennai with the coming up of several luxury residential projects and IT companies setting up operations here. Reports say that real estate Chennai market is expected to remain stable in the year 2013 and also property registration in Chennai seems to be clawing back after the financial slump.

 
Even with the rise of demand and prices of properties in Chennai the retail real estate segment has remained upbeat. This positive impression has attracted major developers like Purva, Pacifica, Unitech and Sai Harini to develop residential units to meet the growing demand of housing. The developers are offering attractive offers and schemes to woo home buyers and boost the sales. Among the various schemes, offering easy finance and house insurance are some of the popular offers that developers have for home buyers.

What drive the demand of Chennai real estate? Unlike many cities, Chennai is not dependent on a specific industry. The city has a range of industries such as logistic, IT/ITES, manufacturing, automobile and more with specific to region. So, the demand and prices of each location varies with specific to the industry and infrastructure. Moreover, certain locations with good connectivity and infrastructure development have become the highly desirable property for owning a house. And the names of a few areas are Muggapair, Perambur and Old Mahaballipuram.

Finding potential Chennai properties as investment option is not a hard nut to crack. Just take the help of popular realty sites that offer information on all major cities. Property websites www.makaan.com provide home buyers or sellers with information so that they can take well informed decisions while buying or selling a property. With the help of realty portals it becomes lot easier to find properties meant for sale/rent/lease according to budget categories and location specific.

Compared to other locations in Chennai, the northern regions of the city have seen the maximum appreciation in residential prices. The prices of many properties in these areas have even increased manifold. The city has also witnessed the growth of price in terms of per sqft over the years.
The growth of Chennai real estate is impressive in comparison with other cities and it is expected to remain firm in the coming years. Moreover, with the setting up of more industries and creating employment opportunities investors are desperately willing to invest in real estate.