Living in Chennai has its own charms! Chennai is the largest economic hub, cultural and educational centre in Southern India. While the city accommodates all the modern necessities of life, it still clings to its rich cultural heritage from the past. Chennai is today thriving from the massive growth in the software services, automobile industry, medical facilities, hardware and textile manufacturing. The city is also one of the selected cities (from the list of 100 Indian cities) that, as a part of PM Narendra Modi’s vision, would be developed into a “smart city”. This one-of-a-kind city offers a high quality of life to its residents. So, there are many reasons why more and more people are showing a keen interest in Chennai’s property investments.
While the Chennai real estate sector has remained sluggish in the last couple of years, 2018 is set to change all that! The last quarter of 2017 indicated a renewed interest in Chennai property investment and the trend would continue to climb through this year. It is wise then to start thinking about owning a property in Chennai. But, before you move ahead it is important to understand the areas which would offer you a good return on investment. So, we would like to present eight property investment hotspots for 2018.
Located to the south of Chennai Metropolitan City, this is a residential locality near the IT corridor. Sholinganallur has undergone massive infrastructural growth in the recent years. Today, the area is filled with reputed educational institutions, global hospitals, IT business parks and many other facilities. Sholinganallur lies at a junction connecting the East Coast Road to Tambaram and Mudichur or Adyar to Mahabalipuram (through Old Mahabalipuram Road). Easy access to the workplaces makes Sholinganallur properties ideal for the IT professionals. This locality has an abundance of transportation facilities and there are beaches in the near proximity as well!
Situated in the western part of the ever-expanding Chennai Metropolitan City, Avadi is an upcoming residential area near Chennai. The locality is just 25 KM away from Chennai Central railway station and has many defence establishments in the near vicinity. Ambattur, Anna Nagar, and Thirumnagalam are some of the neighbouring areas. Many reputed educational institutes and technology companies have their presence in Avadi. Apart from the popular gated communities; residential plots in this area are very popular property investment options.
This area, lying towards South of Chennai, has been witnessing a massive development. Today Mambakkam has world-class schools, hospitals, and higher education facilities. Properties along the Mambakkam-Medavakkam Road and Ponmar are attracting massive real estate investments. Residential plots are the most popular property type in Mambakkam.
You name it, and today’s Chromepet has it! In the last couple of years, no other locality has got such a face-lift as Chromepet has! Whether you are searching for good educational facilities, recreational scopes, shopping avenues or commercial opportunities – Chromepet has them all. While property prices in the surrounding areas (such as Nemilichery and Chitlapakkam) are climbing steeply, Chromepet properties still remain quite affordable.
Korattur is located 12 KM away from Central Chennai. It is close to the reputed Anna Nagar area. A lot of recent infrastructural development has contributed to the popularity of Korattur as a residential hotspot today. The locality has developed into a great urban township offering all the facilities to its dwellers. There are many exciting projects in the pipeline at Korattur.
This locality is situated near National Highway 32 (GST Road). Quick connectivity to most areas of Chennai was one of the reasons for the early popularity of Urapakkam as a residential area. In the last couple of years, the area has undergone many exciting changes. Whether it is educational, medical or shopping facilities – everything is available here. A proposed metro station would be built to support the growing population of the area in the very near future. Residential properties of every type are popular at Urapakkam.
Thirumazhisai is a suburb area on the Western part of the Chennai Metropolitan City. The area has got a major boost with the 200-million multi-storied industrial complex projects for micro industries. Today, the residential areas in Thirumazhisai are supporting a growing number of people looking for quality living near Chennai. Apart from having all the modern facilities for its dwellers, the area is also known to house many holy temples.
This fast-growing suburb along the GST Road is again a great place to own a property. Guduvancheri has its own railway station, and there are many other public transportation options available. Quality educational and medical facilities are available within the locality. There are many tourist places in close proximity to Guduvancheri!
Now that you know, do not waste much time pondering. With the rise in demand, the property prices in these areas are bound to escalate very soon.