It’s known that location, positioning and a plethora of other factors play a big role in deciding how your asset performs. Chennai is undoubtedly one of the most favorable real estate locations for commercial space in 2022, predicts Hirav Shah.
About Chennai Property
It’s prudent to invest in commercial space in Chennai since Commercial real estate investment has a great future in Chennai.
And this is due to the hybrid model, work near home and work from anywhere, prevailing… and this will prevail, we don’t know till when and nobody knows in fact !!
But, post pandemic also, this will prevail.
The influence on REITs, too, is expected to be marginal and hence,
basic factors combined with the government’s superb initiatives will drive commercial space demand even higher in this year. The liquidity scenario will be better going forward and the realty sector will get the much-needed funding.
With such a buoyant demand atmosphere, there has been an increased deal flow over the past 12 months…
So, investors, are you listening !!
Jobs In Chennai Real Estate
- real estate Sales Executive at Amro,
- real estate Sales- Manager at PREMIER HOUSING AND PROPERTIES,
- Property Manager at Knight Frank India Pvt Ltd,
- General Manager Sales at Shriram Properties Ltd. and numerous others.
Chennai Real Estate Developers
- JKB Housing Private Ltd,
- Winner Foundation Private Ltd,
- VGN Developer,
- KCee Properties Private Ltd
- etc…are the top Chennai real estate Developers.
Chennai Real Estate Agents
- Home Konnect,
- Knight Frank (I) Pvt. Ltd. and
- Chattels Realty Consultants (real estate) Pvt Ltd are the top Chennai real estate Agents.
Chennai Real Estate Predictions
2022 is the best time for commercial real estate investments at ORR.
Why Chennai real estate can give better returns in 2022:
The advent of the IT industry, giving rise to SEZ and the IT corridor has catapulted real estate’s interest in Chennai in 2022. Over the last two years, prices of properties for sale in Chennai have been growing in between the range of 3% – 5% on a monthly basis. Hence, it is certain that Chennai real estate can give better returns in 2022.
Top Places To Invest Chennai Real Estate
Pallikaranai obtained the first spot and it has indeed emerged as one of the most preferred destinations for commercial Property investors .
Pallikaranai, which is located near the IT corridor of Old Mahabalipuram Road (OMR) as well as the automotive manufacturing region that is the Grand Southern Trunk (GST) Road, is also close to other employment hubs like Velachery, Medavakkam, Karapakkam, and Perungudi, among others.
Pallaikaranai has seen a massive surge in the commercial Property market, due to this and also due to the development of the IT industry and Co-working spaces. The commercial growth has acted as a boon for the rental demand in the area too.
Bordered by the popular Kodambakkam, Vadapalani, MMDA Colony and Nungambakkam, Choolaimedu is one of the prominent commercial hubs in Chennai.
Owing to its proximity to prestigious educational institutes, such as Loyola College, Meenakshi Engineering College and Panimalar Polytechnic, Choolaimedu has witnessed expansive retail development over the decade.
Many hotels and restaurants have also dotted the area and catered to the recreational needs of the residents, owing to the proximity to the transport facilities and the commercial hub in T. Nagar.
Massive employment opportunities, along with infrastructural development to meet the needs of end-users, are ultimately leading to the upsurge of commercial real estate investments and this is set to continue throughout 2022 and even beyond. So, investors, it’s time to act…
The 62-km Outer Ring Road (ORR) project completed last year that was developed as part of the recommendations of the first master plan for Chennai Metropolitan Area, to reduce traffic congestion, will soon turn into a commercial hub. 2022 is the best time for commercial real estate investments here.
Large-scale industrial and commercial developments like town planning schemes of Ahmedabad have been suggested by the CBRE report. Developing a racing circuit that can be used by automobile manufacturers to host international races and to test their vehicles in India rather than sending them to foreign countries, has also been recommended by the report.
By now it’s known that location, positioning and a plethora of other factors play a big role in deciding how your asset performs. This holds true for commercial real estate.
So, investors, are you finally listening and acting too !!