Chennai real estate market was able to cope with the real estate slowdown better than the rest of the places in the country. The main reason why the property market was able to cope with this was as the Chennai real estate is driven by end users and not speculators who are looking for just making profits. The commercial and residential properties are showing great growth, they are also encircling the areas in the periphery to cater to the growing demands of the residential properties. The apartments for sale in Chennai are seen making huge progress, they are sold like hot cakes and the developers are pretty positive with the whole scenario.
Locations in Chennai for investment
The city is blooming with options and opportunities, but the main locations that would be best when looking at apartments for sale in Chennai are:
Sholinganallur is situated in the south of the city and is quite popular with location. There are IT industries, and enabling services near the area making it a preferred choice for professional who work near the place. The old Mahabalipuram Road is situated quite close to the area which is the IT hub of Chennai.
The population of the area consists of IT crowd and is a good destination for those who are in search of residential apartments. These places are rented by many and are quite high on preference. Going by the property rates in the area Sholinganallur apartments are ranged between 30 lakh to 40 lakh which may go up to 50 lakh, there are 2 BHK, 1BHk apartments along with bigger options if one needs.
Perambure is located in the north of the city and is near popular areas like Anna Nagar, Madhavaram and Villivakkam Kolathur. Perambure is an affordable place to live when one is in Chennai and renting properties here are also not big issues. The abundance of the options is what makes this place suitable for many. If there are plans of making an investment in this area then the preferred idea would be to buy a 2BHk apartment here. The properties would range anywhere between Rs 20 lakh to Rs 40 Lakh.
Finding suitable apartments for sale in Chennai is not difficult as Chennai is growing with the increased demands. Even if someone is not looking for a residential property then also Chennai real estate market is a great investment option. The whole key is in finding a place that suits your budget and investment needs.