Thiruvanmiyur is a premier residential neighborhood in South Chennai. The locality features a well-developed infrastructure and a vibrant demographic mix. Thiruvanmiyur’s proximity to SEZ and IT corridors has made it the preferred choice for professionals and businessmen. It’s location along the East Coast has attracted numerous wealthy people, who have bought sea-facing homes in this neighborhood. Thiruvanmiyur is one of the fastest growing neighborhoods in Chennai and holds good investment potential. If you are planning to buy a property in Chennai, here are 10 reasons why you need to invest in a new property in Thiruvanmiyur.
#1. Capital appreciation
Property prices in Thiruvanmiyur have more than doubled since 2010. Property prices in Thiruvanmiyur have witnessed significant growth in recent times as well. In the April-June 2018 quarter, property prices in Thiruvanmiyur witnessed a QoQ growth of around 8 percent. The lowest range of property prices in Thiruvanmiyur was around Rs 8,000 per square feet and the highest range was around Rs 14,350 per square feet. The average property price in Thiruvanmiyur for April-June 2018 quarter works out at around Rs 11,150 per square feet. It’s evident from these figures that properties in Thiruvanmiyur command a higher price and offer better capital appreciation, as compared to other locations in South Chennai.
#2. High rental yield
Being an upscale neighborhood, properties in Thiruvanmiyur fetch higher rental yields, as compared to other locations in South Chennai. For example, if you invest in a 2BHK in Thiruvanmiyur, you can easily get a monthly rent of around Rs 25,000. For 3BHK and larger homes, the monthly rent could easily be in excess of Rs 40,000. Sea facing properties in Thiruvanmiyur are the priciest and the monthly rent for these can be around Rs 1 lakh. There’s a consistent demand for rental properties in Thiruvanmiyur, something that allows property owners to maximize their rental income.
#3. Good neighborhood
Thiruvanmiyur is the preferred abode for well-educated professionals, upper middle class families, businesspersons, HNIs, and NRIs. It’s a peaceful place to live, where people adhere to the common rules, as applicable for a civilized society. The streets are clean and wide and there’s ample green cover in the area. Thiruvanmiyur shares its borders with other prominent locations in Chennai such as Guindy, Adyar, Velachery, and Taramani. This has contributed to the area’s development and its emergence as one of the poshest localities in South Chennai.
#4. Cosmopolitan population
The quality of life in Thiruvanmiyur is among the best in Chennai, something that attracts people from all walks of life. In Thiruvanmiyur, you will find people from varied ethnic backgrounds, cultures and religion. A number of expats also prefer to live in Thiruvanmiyur, as it offers world-class living standards and amenities. Residents of Thiruvanmiyur are broad-minded and they have greater acceptance, tolerance and respect for each other’s culture and religion.In Thiruvanmiyur, you can enjoy life to the fullest without worrying about your ethnicity or cultural or religious background.
#5. Proximity to major thoroughfares
Thiruvanmiyur acts as the gateway for two of Chennai’s main thoroughfares– Old Mahabalipuram Road (OMR) and East Coast Road (ECR). OMR is known as the IT Corridor of Chennai, as it is home to various IT parks and top companies such as TCS, Infosys, Wipro, Cognizant, HCL Technologies, Tech Mahindra, Capgemini, Syntel, etc. Many people working in these companies prefer to live in Thiruvanmiyur. The East Coast Road runs parallel to the East Coast and it connects to Mahabalipuram. ECR is home to various prominent business centers and tourist destinations.
#6. Well-developed infrastructure
Thiruvanmiyur is known for its superior infrastructure such as wide roads, pedestrian walkways, public parks, bridges & flyovers, and dedicated sewerage and waste disposal systems. Thiruvanmiyur has been added to the list of areas serviced by Chennai Corporation, which has ensured fast-paced infrastructure development in the area. Several new infrastructure projects have been planned to further boost the quality of life of residents living in Thiruvanmiyur.
#7. Well-developed social infrastructure
One of the oldest neighborhoods in the city, Thiruvanmiyur has a well-developed social infrastructure. The neighborhood is home to various top-rated schools and educational institutions. Other essential needs such as hospitals, shopping malls, and entertainment centers are also easily available. Many top banks have their branches in Thiruvanmiyur and most of these are located on ECR Road. Thiruvanmiyur is also home to various places of religious and cultural interest.
#8. Seamless connectivity
Thiruvanmiyur connects to other parts of the city through roads, railways and Chennai Metro. For example, if you want to reach the main city, you can travel on the Mass Rapid Transit System (MRTS) Railway line, which connects Thiruvanmiyur to Chennai Beach. If you want to go to the International Airport in Meenambakkam, you can take the Metro from Little Mount, Guindy or Alandur, which are the nearest Metro stations from Thiruvanmiyur.Getting a bus is also easy, as Thiruvanmiyur is located on the prominent thoroughfares of OMR and ECR.
#9. Fun, recreation and sightseeing
With its location on the East Coast, Thiruvanmiyur offers numerous options for fun and recreation. A number of beach resorts, clubs, bars and pubs are located in the neighborhood. Thiruvanmiyur has its own beach, which is a great place to spend quality time with family and friends. Other prominent beaches such as Elliot’s Beach, Neelankarai Beach, Blue Beach, and Olive Beach are also easily accessible from Thiruvanmiyur.The Guindy National Park is a major attraction, which is located close to Thiruvanmiyur.
#10. Pollution-free environs
The fresh air from the Indian Ocean sweeps the neighborhood of Thiruvanmiyur quite frequently. This ensures pollution-free environs for its residents during most parts of the year. The neighborhood also has ample green cover, which helps improve air quality.
Areas neighboring the coast have always commanded a premium and they continue to be in demand, irrespective of market conditions. Properties in fast growing localities like Thiruvanmiyur are expected to witness significant price appreciation in the coming years. Rental yield is also high in Thiruvanmiyur, as it’s a posh locality and preferred by people working in nearby industrial hubs and IT Corridor. Your decision to invest in a new property in Thiruvanmiyur can be very rewarding, as it can give good returns in the next 5-10 years.