Owning a dream house is many people's dream, and it involves individuals time and money. Of the very few venues, people who wish to save money choose the real estate industry first. The main reason many people are showing interest in real estate is that the appreciation value of lands and houses are greater and property investment shows an excellent return on investment, especially in metropolitan cities like Chennai. There is tremendous growth and value appreciation for the real estate market in the areas of Chennai, such as OMR, Guduvanchery, ECR, and Urapakkam.
Chennai is one of the top metropolitan cities where the standard of living is always set up at a greater level. The suburbs of the city like Chemencherry, Siruseri, and Kelambakkam are showing tremendous growth in terms of education, hospitality and distinctive infrastructure. Many IT zones and industries are growing across the city with great connectivity to the neighbouring cities. As per the recent report, the appreciation value in these zones is showing a growth of 10% per year.
What makes the Chennai real estate more popular?
Chennai has become home for many migrates, and other state people as the city offers the best living lifestyle. Over the decade, there are many migrations to Chennai as the city provides great job opportunities and a greater education system. As a result of migration, there is a standard requirement for quality housing like flats and apartments in Chennai. Other than this, here are certain reasons for that forecast the growth of real estate in Chennai.
Chennai is increasing its space by expanding its land coverage area, so there are vast options for property buyers from luxury villas in Chennai or residential plots in Chennai. Even the real estate act and regulation has enhanced the trust and confidence of the investors to make a property investment in Chennai.
The year 2020 is a greater boon for Chennai real estate market as there will be a rise in the real estate sales and launches of new projects in the city. There is an immersive responsive for the unique infrastructure and locations.
The real estate dealers provide the best payment plans, which will be a flexible and comfortable option for property buyers.
Top locations to buy flats in Chennai
Chennai is developing as a hub for the real estate market where all areas of the city attract the eyes of homebuyers as the scope of property development and return on investment is higher compared to other metropolitan cities. But, there are certain zones of Chennai where the real estate market will reach a peak in 2020. Some of the locations are listed below.
OMR is one of the fast-developing areas where there are many MNCs and IT companies. The area is developing in terms of schools, colleges, malls, health care centres and many more. OMR is major connectivity to other major areas like ECR, Chengalpattu. With all this, it makes the most preferred location for property investment.
Porur is the western suburbs of Chennai which is considered as one of the best residential areas of Chennai. There are many new launch projects planned in and around Porur which offers properties of all kind say affordable and luxury flats and apartments in Chennai. The zone also offers excellent connectivity and accessibility to Bangalore highway and Chennai bypass.
The Growth of Chennai real estate in 2020
Over the decade, it is highly noted that the growth of real estate in Chennai is massive and has been a boon to the financial growth of Tamil Nadu, and it is expected to increase in future. It is also expected that the progress of the real estate market is highly seen in areas such as ECR, OMR, Urapakkam, Chengalpattu and Guduvancherry. So, if you are planning to invest in properties in Chennai then opt for the most trusted online real estate portals like My Property Boutique where you get assured and verified property from the top-notch real estate builders.