Real Estate In Chennai Geared Towards Transparency

Real estate in Chennai is an end-user driven market and so many people are asking the question what affect will the demonetization will have on the sector? Most of the transactions that take place in the real estate Chennai happen in the resale market. It is a well-established fact that in resale market the cash component is much more as compared to the primary market. If people will buy Kandigai flats for sale directly through the builders, most of the payment will has to be made through legal routes. However, if Kandigai flats for sale are brought in resale market more than 50% payment was done in cash.  Although the selling price of Kandigai flats for sale is the same in primary and secondary market but the registered value on papers and legal documents is much lesser in case of resale market as people want to save on the tax component, which can sometime be around 20% of the selling price of the property.

It is expected that after the demonetization drive most of the people will mention the actual buying price on legal papers. Sellers in resale market will also prefer to take 100% payment through legal routes. Real estate in Chennai will see greater transparency. The state authorities will be able to increase their tax revenues through real estate Chennai, as people will not register their property at undervalued price. The price gap of in primary and secondary market is likely to be bridged. It is high time that such loopholes are plugged so that there is greater accountability in the real estate Chennai.

In the long run the demand or supply in real estate in Chennai will not be much affected by the demonetization move but deals will definitely be more transparent which will lead to market stability.

Flats For Sale In Porur A Preferred Choice Of Investment

Many people look to invest in real estate in Chennai as the sector is extremely affordable. Chennai properties recently saw the downside due to floods but now things are moving in favor of the city’s realty sector. Porur is one of the most popular areas in real estate in Chennai. People who are looking to buy Chennai properties which will give good returns look to buy property in Porur.

Three IT SEZs are going to come up in the area and so many people are buying a property in Porur as they expect property prices to rise significantly. The area has already given around 70% appreciation in the last 5 years. Many people are also buying flats for sale in Porur so that later they can rent a house and earn regular rental income. The IT SEZ will employ around 10,000 people so many people will prefer to rent a house in this area. Currently also several people look to rent a house here as the area gives easy access to MIOT hospital and Ramachandra Medical College.

At present, the average price for flats for sale in Porur is around Rs 65 lakh whereas the average price of a villa is around a crore. However for most people, flats for sale in Porur are a preferred choice of investment compared to other property in Porur due to lifestyle preferences. A property in Porur here can be bought for approximately Rs. 5,500 per square feet. This pocket of real estate in Chennai has given good returns in the past and it is expected that in the future too the area will give excellent results. Real estate experts believe that investing in Chennai properties can give god results as the market currently is onn an all time low and the prices of Chennai properties will again start rising soon.

Velachery Is One Of Chennai's Best Places To Live In

The real estate Chennai market has been witnessing steady growth in recent times and there are several localities which have witnessed huge development over the years. Demand for Chennai real estate has also been concentrated in several specific localities and pockets. As per real estate in India reports and studies, Velachery is one of Chennai’s most coveted residential destinations. Velachery is a premium South Chennai locality and has rapidly grown in tandem with the flourishing IT sector in the South Chennai belt. The locality is a hub which links the fast growing IT corridor or OMR, Central Business Districts and GST Road to each other. Velachery is a major commercial and residential hub and there are several connectivity advantages that it offers to residents. The demand for real estate in Chennai has been driven by the Velachery market. Guindy is well connected to the locality and the Velachery main road is the major connectivity avenue here. Mount Road is also accessible from the locality while the 100 ft bypass road is also a connectivity lifeline here along with the Taramani link Road on the north eastern flank which runs up to the Rajiv Gandhi Salai in OMR. The Jawaharlal Nehru Salai or the 100 ft road also enables great connectivity to the GST Road and airport. The Taramani Link Road connects the locality to MGR Salai. There are several retail hubs and premium shopping centres located in close proximity to the area as well.

According to property India studies, Velachery is well connected to Adambakkam, IIT Madras, Pallikaranai Marshland and several other areas like Madipakkam, Guindy, Thiruvanmiyur, Adyar, Perungudi and Tharamani. The locality is predominantly residential while the Chennai International Airport lies around 8-10.5 kilometres away from it near Meenambakkam. The airport can be accessed comfortably from the area as mentioned earlier and the Inner Ring Road also helps majorly in this regard while the GST-Anna Salai route is the more conventional one and runs through Guindy. Volvo bus connectivity is also available in the neighborhood. Velachery is the perfect mix of connectivity, infrastructural development, entertainment and recreation and commercial progress.

Kolathur Is a Rapidly Growing Residential Realty Destination In Chennai

Real estate in Chennai has witnessed steady growth in specific areas and pockets of the city. Demand for property in Chennai has gone up in Kolathur, one of the city’s fast developing areas. The market for real estates in Chennai has been boosted by Kolathur's popularity. Kolathur is winning in comparison to other markets on account of its strategic location. Kolathur has witnessed rapid development in recent years and is one of the fastest growing localities in North Chennai. Demand for Indian properties has been a little low in several metropolitan cities of the country though Kolathur is one among a few localities that have bucked this trend. The area has witnessed the construction of flyovers for easing traffic congestion along with several infrastructural developments. The metro railway network is also set to be extended to this locality and this will spark heightened progress. Several apartments are available in the locality that are priced between the Rs. 50-70 lakh. The locality also offers easy access to several places like Puzhal, Perambur, Periyar Nagar, Jawahar Nagar, Vinayagapuram, Vajjiravel Nagar, Villivakam and Grand Trunk Road. The latter connects the locality to the Hyderabad-Chennai Highway. Additionally, the Inner Ring Road also runs through the locality while Anna Nagar lies approximately 10 kilometres away from the area. The Chennai Central railway station lies around 15 kilometres away from the locality. The Kumaran Nagar bus depot is also located near the project. Business districts like T Nagar are also accessible from the project while the Loco Works and Villivakam railway stations are also accessible from it.

Prices in Kolathur are quite at par with the trends prevalent for properties in India. Prices of properties in the area range between Rs. 4, 000 and 5, 000 per sq ft. The area is also well connected to several colleges, schools and hospitals. Prices are a little lower as compared to Anna Nagar. Kolathur properties are usually priced between Rs. 25 and 75 lakhs on an average while sizes range between 410 to 1196 sq ft. There are limited options in the area in the price range of Rs. 1 crore. There are several departmental stores and theatres present in the area as well in addition to a leading IT Park.

Chennai Ripe For Investment: Key Pointers To Think About Before Investing In The City

Real estates Chennai is ideally known to give single digit return on investment but in the last few years their has been a rise in demand of India properties Chennai leading to sharp price rise of properties. Chennai real estates specially in the southern region has growth at a substantial rate. People who are looking to invest in real estates in Chennai purely from investment standpoint find OMR area extremely lucrative.

Till quiet recently most of the investors of real estates Chennai bought property for self use, but this has changed in the last 4-5 years as the Chennai real estates market has started showing some major movement. Real estates in Chennai has offered good return on investment in the last few years. Rising prices of real estates Chennai has however prevented some end-users from entering the property market. If a person is looking to buy India properties Chennai for self use, then the time for investment now is ripe as the property prices in real estates in Chennai are largely under control. Also developers in Chennai real estates are willing to give freebies and discounts to reduce their inventories of India properties Chennai. Real estate experts fee that prices of properties in Chennai will continue to rise for the next few years owing to stability and affordability of the region. 

Before investing in a property for sale in Chennai one should always look at the connectivity neighborhood and see if the price point is to your liking. Before investment one should also consider the credibility of the developer to have delivered these projects in the past. Also try and find out if the property is approved by banks to loan. Overall speak with a few people (online) for their point of view. Encourage people who give different opinion as that will come in really handy.