Chennai, the capital city of Tamil Nadu, has seen a steady rise in real estate prices. In this article we will try and understand the best places to invest in Chennai.
NORTH CHENNAI:
North Chennai is predominantly an industrial area and therefore inspite of high ground water level the property at Chennai North has not seen much of an appreciation. This scenario might change as our Finance Minister Mr. Arun Jaitley has announced that Ponneri in north Chennai will be one of the three smart cities, and therefore the area could spark some interest in buyers and property developers. But if the state government really wants to improve the real estate of Chennai then it should improve the connectivity to this part of Chennai.
CENTRAL CHENNAI:
Property at Chennai Central is the most sought after real estate sector. Areas such as T.Nagar, Gopalapuram, Mylapore, Kodambakkam, Nungambakkam, West Mambalam, Choolaimedu, etc. dot the region. Chennai properties in this area are densely populated and the rates in these areas are reaching a new high. Due to lack of space, very few new apartments are coming up which has resulted in high resale value of flats in Chennai central. Though central Chennai is a posh area but this doesn't make it an attractive investment option as ROI for investments is quiet less.
WEST CHENNAI:
West Chennai properties has areas like Valsaravakkam, Anna Nagar, Saligramam, Mogappair, Ambattur, KK Nagar, Vadapalani, Porur, Ramapuram, etc. These areas have developed in the last few years. The area initially lacked interest from buyers as it didn't have good connectivity with other parts of the city. In the late 1990's the Chennai real estate saw an unprecedented price rise in West Chennai properties as the area's connectivity was improved with the help of public buses. This place is still a good place to invest in if one is interested to buy a flat in city limits; the ROI in properties in Chennai West can also be in double digits.
SOUTH CHENNAI:
Properties at Chennai South have given a very high return on investment to most of the property owners of the area. South Chennai houses areas like Guindy, Alandur, Saidapet, Adyar, Besant Nagar, Pallikaranai, Thoraipakkam, Velachery, Neelankarai, Injambakkam etc. The area is home to several prestigious institutes such as Anna University, IIT, Gandhi Mandapam, Cancer insititute in Guindy, etc. The property prices in this part of the city have already sky-rocketed and the area has already exploited its ground water, therefore it is not advisable to invest in properties in this part of the city.
NORTH CHENNAI:
North Chennai is predominantly an industrial area and therefore inspite of high ground water level the property at Chennai North has not seen much of an appreciation. This scenario might change as our Finance Minister Mr. Arun Jaitley has announced that Ponneri in north Chennai will be one of the three smart cities, and therefore the area could spark some interest in buyers and property developers. But if the state government really wants to improve the real estate of Chennai then it should improve the connectivity to this part of Chennai.
CENTRAL CHENNAI:
Property at Chennai Central is the most sought after real estate sector. Areas such as T.Nagar, Gopalapuram, Mylapore, Kodambakkam, Nungambakkam, West Mambalam, Choolaimedu, etc. dot the region. Chennai properties in this area are densely populated and the rates in these areas are reaching a new high. Due to lack of space, very few new apartments are coming up which has resulted in high resale value of flats in Chennai central. Though central Chennai is a posh area but this doesn't make it an attractive investment option as ROI for investments is quiet less.
WEST CHENNAI:
West Chennai properties has areas like Valsaravakkam, Anna Nagar, Saligramam, Mogappair, Ambattur, KK Nagar, Vadapalani, Porur, Ramapuram, etc. These areas have developed in the last few years. The area initially lacked interest from buyers as it didn't have good connectivity with other parts of the city. In the late 1990's the Chennai real estate saw an unprecedented price rise in West Chennai properties as the area's connectivity was improved with the help of public buses. This place is still a good place to invest in if one is interested to buy a flat in city limits; the ROI in properties in Chennai West can also be in double digits.
SOUTH CHENNAI:
Properties at Chennai South have given a very high return on investment to most of the property owners of the area. South Chennai houses areas like Guindy, Alandur, Saidapet, Adyar, Besant Nagar, Pallikaranai, Thoraipakkam, Velachery, Neelankarai, Injambakkam etc. The area is home to several prestigious institutes such as Anna University, IIT, Gandhi Mandapam, Cancer insititute in Guindy, etc. The property prices in this part of the city have already sky-rocketed and the area has already exploited its ground water, therefore it is not advisable to invest in properties in this part of the city.
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