Monday, November 14, 2016

7 Reasons for Investment in Chennai Real Estate

The real-estate industry is growing at a rapid rate in our country. The contribution of this industry to the national economy is significant. It chips in about 5% share to our GDP. The expansion of the real-estate sector can be attributed to globalization and the setting up of many MNCs. Within this booming sector, Chennai presents a stable and lucrative market to invest in. Let’s take a look at the factors that add up to make this city a prime real-estate location:

1. Ranked among top 12 cities
In a report by Candy GPS (Global Prime Sector), Chennai is positioned among the top 12 cities in the world to invest in real estate. Factors like market transparency, rational prices, and steady growth make this city ideal for investments.

2. Consistent appreciation of property value
The real-estate market in Chennai witnessed a 150% capital appreciation from 2009 to 2012. There is an overall positive outlook for this trend to continue, with the market value expected to increase by up to 10% year on year. These numbers alone give a strong cue for investing in the sector in Chennai.

3. Better employment prospects and flourishing trend of renting homes
The mushrooming of MNCs in Chennai has resulted in better job opportunities, which have further led to significant migration to the city. This trend has increased housing needs, which has hiked the real-estate value in the city. While some of the migrants move to Chennai permanently, there are those who do not have such long-term plans. They would rather purchase a house in the new city, stay there for a certain period, and then move elsewhere. In such a scenario, they choose to rent out their house and earn an additional income every month. Apartments in Chennai are, thus, a great investment.

4. Better investment returns
Increasing value, absence of depreciation, and no phase of depression have made Chennai an ideal city for real-estate investments. More people are now booking their homes and investing in properties in the city, thus propelling Chennai to the top of the real-estate list. This rise in demand has brought about an expansion in the housing sector. Also, a chunk of these investors are NRIs who were born in Chennai.

5. Developed infrastructure and public transportation
Usually, investors are weary of investing in cities that lack public facilities, especially a well-established transportation system. Chennai boasts of an integrated public-transportation network, including local trains and buses, which makes it an attractive real-estate market.

6. Education and health-care facilities
Be it for good education or advanced health-care facilities in the country, Chennai is a name that easily crops up in one’s mind. India Today has rated the city the best place in India for education, what with the presence of leading educational establishments. The city also has renowned health-care establishments. Recognizing these factors, a lot of people from across the country and abroad visit, and at times move base to, Chennai, which enhances the lucrativeness of the real-estate market in the city.

7. Choices across budgets
Those days are behind us when only IT professionals, NRIs, and foreign nationals sought to invest in Chennai. Today, real-estate investors have many options across budgets. They could opt for a small, affordable home or a luxury apartment in Chennai.

This is a guest post by Dinesh Dawde

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