During uncertain and turbulent times, the one place that offers comfort and safety is ‘home’. With job losses and economic upheaval, paying rental for homes suddenly became a financial burden. Home loan borrowers on the other hand had an option to avail EMI moratorium making it beneficial over rental payouts.
It’s not about just the Covid pandemic, for real estate is considered to be a stable asset class and a preferred investment option especially in a volatile market scenario. The Reserve Bank of India’s House Price Index tracking home prices in 10 major cities including Chennai, puts the average return from real estate in the last 10 years at 11.6% per year. This exceeds the return offered by the equity market at 11% as well as Gold offering a return of 8.8 % over the last 10 years.
The one investment fundamental famously quoted by India’s Top Real Estate Investment Adviser and Real Estate Strategist, Hirav Shah is “buy low, sell high”. With realty prices dropping, real estate today offers a smart investment option.
For example, a recent report reveals that real estate prices corrected in Chennai by more than 5% in the last quarter of this year.
Such corrections are opening up buying opportunities as shown by price growth of 6.9% and 3.3% in the markets of South Indian Tier 1 cities during the same period. This growth is also promoted by buyers looking at price correction as an opportunity to upgrade to a bigger home in the suburbs away from congested city centres.
Being a buyer’s market, not only are the prices low but there are ample discounts on offer as builders look to sell unsold inventory. Add to it enablers like RBI’s reduction of repo rate to 4% bringing down home loan interest rates to almost 7% levels, the extension of benefits under Section 80EEA till March 2021, and reduction in stamp duty rates by various southern states.
On that note, let’s take a look at the Most Popular Complexes and Areas In Chennai To Look Out For Real Estate Business, which have made it to the Hirav Shah list this time.
GST Road is one of Southern India’s prominent national highways that has been witnessing constant growth in infrastructure and other facilities. Also known as the Chennai-Trichy highway, the road has several residential and commercial developments along the way. With several global and domestic corporates establishing their operations in the area, the demand for residential real estate has grown here.
GST Road boasts of connectivity to several key localities of Chennai including Guindy, Pallavaram, Tambaram, Urapakkam and so on. It is also well-connected through various modes of public transports available in the city. Apart from being close to the Chennai International airport, a number of MTC buses run through the area ensuring good accessibility to and from the area. The region offers several residential options ranging from apartments to plotted developments.
The growing presence of corporates in the region, as well as proximity to other hubs in Chennai has led to the development of a robust social infrastructure here. Apart from quality educational institutions, several hospitals, retail establishments, cafes, restaurants, hotels, fitness centres and supermarkets are also present here.
With a large number of residential properties for sale in Chennai, realty business is flourishing predominantly due to the growth of the IT sector and the resultant migration. The current realty scenario provides an opportune moment for all the aspiring homebuyers. The city is now one of the most desirable cities people want to call their home.
Price appreciation to efficient physical infrastructure are reasons due to which home buyers are attracted to OMR corridor. The residential market is witnessing an impressive amount of influx of several housing projects in OMR.
Flats remain the most supplied property type with options for 1, 2 and 3BHK apartments. Since new flats are available in huge numbers, the demand in some areas is no match to the supply.
It is considered a top residential area in Chennai, and buyers often ask questions on investment options and price appreciation in the stretch. The average price per sq ft of flats is Rs. 4,644 per sq ft whereas residential plots are available within a price range of Rs. 30 – 70 lakhs.
Affordable pricing, access to several places of the city, and availability of all essential and basic requirements in the proximity make Porur, the destination of builders and home buyers alike.
Porur is strategically located along Mount Poonamallee Road. It is connected to other prominent areas such as Nungambakkam via Arcot Road. This neighbourhood is within the city limits while being away from the hassles of the core city.
The upcoming IT SEZs are about to make this resourceful suburb the next big IT hub in the city. Residential apartments in Porur are much in demand for the following factors:
adequate amenities, affordable pricing, better ROI, proximity to Ramachandra Medical College and MIOT hospital, fast-developing IT hub, excellent connectivity with city and outstation, existing industries and infrastructure and freshwater lake.
Property prices are on the rise in Vanagaram residential complex, making this area an investor’s dream location.
Vanagaram is a rapidly developing area. It is one of the few localities in Chennai that offer the twin advantages of a calm, peaceful life as well as all the charms of the city. This typical residential neighborhood is located in north-east Chennai, and well-connected to other significant places by the Poonamallee High Road.
Vanagaram is just around 15km away from the city’s airport and Chennai Central. This temple-filled neighbourhood provides a divine living experience, making flats in Vanagaram Chennai the most preferred homes.
The salient factors that make Vanagaram one of the most sought-after neighbourhood are excellent infrastructure, well connected with other areas, availability of good water resources, a residential area that offers a peaceful atmosphere,
equipped with several reputed educational institutions and a fast developing commercial centre.
Medavakkam, the sprawling, fast-developing residential area, falls under the Chennai Municipal limits, located in the south of the city. Touted to be an investment hotspot, Medavakkam has been witnessing substantial growth during the recent past.
Being strategically situated close to the OMR and the SEZ, it holds the promise for further development in the future. It is enriched with commercial establishments, schools, health care facilities, and all essential social and financial facilities. This place is about to develop in unprecedented ways. This makes new flats for sale in Medavakkam, Chennai, hotcakes.
Factors that make new flats for sale in Medavakkam Chennai special are proximity to both OMR and ECR, excellent social infrastructure, abundant employment opportunities, uninterrupted water supply and high ROI.
The serene residential neighbourhood of Perumbakkam is situated in South Chennai. This fast-growing area has been added to the Greater Chennai Corporation jurisdiction recently, making it one of the prized locales to have your home in.
People looking forward to buying apartments in Chennai for investment can be assured of good financial returns. Those who wish to lead a relaxed and comfortable life will get more than what they expect by buying an apartment in Perumbakkam, Chennai.
Key benefits of buying flats in Perumbakkam Chennai are proximity to major IT companies, charming residential area with all amenities, excellent road and rail connectivity, increasing property prices and sufficient water resources.
Despite all plus points and returns and everything else, seasoned builders/developers/investors are now aware of the fact that 90% of REAL ESTATE businesses fail in the first 60months, and this is the reason there is iota of doubt still in their minds.
But hang in there !!
Now, there is light at the end of the tunnel for TOP Real Estate Developers and Investors. The most Celebrated Real Estate Strategist and Real Estate Investment Adviser, Hirav Shah has shared his Mantra and advisory applicable to Real Estate and all other sectors as well.
For the most successful people in the world, 2021 already started… Has it for YOU?
Who doesn’t want to experience success in business?
But are you truly doing the right things to get there?
If you hesitated AT ALL answering any of those questions, you need to shift your focus to doing what’s necessary to get you the success you desire…
So plant the seeds now for your future, and focus on investing energy on the habits that will create the results you really want.
NOW is the time to do the things that you have been wanting to do. Don’t procrastinate and rob yourself of a more compelling future…
What ONE goal will you focus on for a head start in 2021?
Any confusion or difficult YES/NO Business decision requires an expert opinion.
Just make sure your business strategy in terms of Brand, Sales, Marketing, Advertising, Mergers, Diversification etc…is still on track to reach your goals. Business Astrologer™ Hirav Shah’s answers have proven to be game changers.
It’s time to fire up your future !!