Real estate market in Chennai is moving towards a positive trend due to the new budget and the new Government policies. This has had an effect on the NRIs investing in Chennai. Chennai is said to be the fourth most sought after city in India for NRIs planning to make investments. NRIs mostly are in look out for ultra luxury apartments in Chennai because they want to make a huge investment which is sure to appreciate in the near future and pave the way for a long term investment.
NRI investments are set to surge by 35 per cent as compared to the 18 per cent noted in the previous quarter as per a survey. At a time when NRI enquiries are witnessing a revival in India, this might actually be the right time for NRIs to get a good deal in Chennai. NRIs have plenty of reasons for investing in Chennai. It is a fast developing metropolitan city which has all modern amenities and infrastructure. Though the market was lull in the past few years, now there is a positive trend which will surely continue in the future also. Since the prices of properties are going up, the demand will also simultaneously rise for the properties.
The real estate in whole country is experiencing a positive boom due to the Make in India campaign, and Chennai is no exception. This campaign is expected to create an increase in the manufacturing hubs of the city which will in turn boost the demand for real estate. NRIs mostly look for properties which have a good re-sale value and are located on the outskirts of the city. Chennai is a city which has many such investment destinations in accordance with the needs of the NRIs, even in the central region of the city. Central Chennai caters to a luxury segment which will surely attract the NRIs and will be a good investment destination for them.