Buying land in a metropolitan city like Chennai is probably the biggest and inspirational investment everyone wants to make. Because of the lucrative returns, buyers choose to invest in the realty sector than any other sectors. It is not just attractive rates, but there are numerous factors encouraging buyers to invest in Chennai real estate. For over a decade, the buying and selling properties in Chennai has been on the positive side that encourages more deals. However, with great development in apartments and plots in Chennai, it becomes a challenging task for the buyer to pick the right place for his/her investment.
IT industries, Telecom and Automobile companies are all contributing towards shooting up real estate price in Chennai. Also, not to forget this city is considered as the best and safest for a living offers high-quality education, improved health sectors and modern infrastructures. This builds huge demand for residential properties and mainly properties near major companies. There are many favorable locations for realty investments in Chennai which includes OMR, Porur, Medavakkam and Perungudi. But the latest realty hotspot for Chennai is “Maraimalai Nagar” with a versatile advantage of investment.
Maraimalai Nagar is a suburb of Chennai, popularly known as “New Chennai.” It was initially developed by CMDA in 1980 that now has great industrial developments coming up. Although located 40 KM away from Chennai, real estate is booming in Maraimalai Nagar. The place has witnessed a lot of traction and interest for property buying due to the employment opportunities and great infrastructure.
Here are some 5 amazing reasons to invest in Maraimalai Nagar, Chennai:
Maraimalai Nagar is truly a real estate hotspot for Chennai because most of the heavy industries and factories are located in this area. Also, Mahindra City that houses numerous multinational companies like Accenture, Ford India, BMW, Infosys, is located here. Not just that, the government has recently acquired 1,914 acres of land for industrial development making Maraimalai Nagar as the most sought residential destination for the end users.
Maraimalai Nagar is well-equipped with transport facilities that includes the railway station, bus stand, and auto stand. Moving from Maraimalai Nagar to surrounding areas becomes convenient with the frequency in buses and train facilities available. Located near the highway, the roads are well connected to the southern parts of Tamil Nadu with good roads.
The area has been identified by many property builders in housing sector as a prime location for their opulent projects. Since the supply of residential property is extremely high, the rental demand is actually low. This makes it convenient for investors looking to buy property under 30 lakhs as the average rates per square feet in this area is Rs 1,035 so you can easily find 2BHK under 30 lakh in Maraimalai Nagar, Chennai.
As various multinational companies are stepping here, infrastructures are being developed to suit their needs. Maraimalai Nagar and its adjoining areas have the best schools and colleges like SRM and Valliammai engineering for students. Upcoming development plans of new hospitals, schools, gardens, play area, malls and multiplexes are all stimulating the growth of residential property in Maraimalai Nagar.
Located in the suburbs of Chennai, the place is neat, clean and green. Buying a property in Maraimalai Nagar will not only give you higher returns, but it would also turn your living experience into a healthy one.
Chennai is one such metropolitan city where 80-90% of the residential market is driven by buyers who become the end users. Such long and strong investment in the city helps to avoid market volatility. It is recommended that investors should explore schemes and offers provided by developers before making any decision. Also, it is feasible that the present market trends offer a wide choice of apartment sizes and rates, which might not be available due to rise in demand in future. So this is the best time a buyer can make use of the opportunity.