Chennai is one of the fastest growing cities in India and being the top destination for IT, BPOs and health care; it is no doubt why real estate industry is witnessing an upswing. Property investment isn’t new here, but new hot spots are attracting the young crowd to invest in real estate to reap good benefits in future. With great job opportunities, good quality of life, MNCs, best education and outstanding infrastructure, Chennai has become the favorite city to live in the entire South India.
People buy land for many reasons; owning a land and constructing a house that suit their taste in future is one of the main reason. And Chennai is a market for all, where investing in a suburb can be least expensive, yet offering great lifestyle. As we live in a nuclear family era, buying 2BHK homes logically make sense. An individual, just married, with/without kids, 2BHK homes has many economical and lifestyle benefits for all category. Let’s see why 2BHK homes in Chennai are most preferred by home buyers:
Property builders have come with 2BHK home projects at prominent locations of Chennai that are booming outskirts. So investors will not have a tough time finding a home near their workplace. Compared to city pricings, investing in a 2BHK home in a suburb is more affordable. Places like Maraimalai Nagar, Porur, and Medavakaam have major industries encouraging home buyer to invest. This demand for 2BHK home is huge and for sure the price will sky rocket in near future. So it becomes easy to sell 2BHK homes at a lucrative rate.
Ideal and Practical Option
2BHK homes are better than 1 and 3 BHK, because it gives higher capital appreciation compared to the latter. 2BHK are just apt, not congested and not too luxurious making it an ideal choice for small families. Also it is a practical option for people with mobile jobs; they can sell/rent the property easily anytime and move on.
Maintenance cost of 3BHK is higher than a 2BHK, therefore you save a lot on monthly basis by going for the latter. Not to forget, everyday cleaning and maintaining 3BHK home will consume much time and money when compared to 2BHK. Due to low maintenance charges, rented 2BHK home will reap more benefits than 1 and 3BHK homes.
New projects in Chennai are mainly customer-centric to ensure great customer satisfaction for buyers and tenants. 2BHK is an excellent investment opportunity that gives a steady source of income via rent. As they are the most preferred form of homes, you will find huge demand for people interested in renting your house. You can also expect a substantial gain in a long run when a rent increases in any particular area as income from rent surpasses mortgages and land taxes.
Affordability is the major driving force for 2BHK homes, which makes it easy to buy, sell and rent. Many property builders are also coming up with premium 2BHK apartment for people who are looking for luxury homes at affordable rates. These projects will have fully furnished homes with ample amenities for all. Thus it makes more sense to buy 2 unit of 2BHK than buying 1 unit of 3BHK, when it is for investment or living purpose.
Buying a home requires proper reasoning and timely research to avoid mistake in long run. It is better to invest in 2BHK in the suburbs of Chennai than 1 BHK within the city limits. Go ahead and make a wise investment decision!