Monday, January 30, 2023

Is Buying a House in Chennai a Good Investment?

Are you looking forward to buying a house for sale in Chennai? Everyone has a dream that one day they have to buy a new home. People spend their life-long savings and get some house loans to buy a new house. When you buy a new house, you used to visit and enquire about the entire new home based on location and price. 

Chennai is a busy metropolitan city with inspirations and aspirations. It has a very good culture and a better lifestyle has inspired many people to settle down here. IT industry, economic growth, and more educational opportunities made this city a beneficial destination in South India.

People love this place because of its architecture, local food, and tourist places. This article discusses whether buying a house in Chennai is a good investment option.

Infrastructural Development

Among all metropolitan cities, Chennai has a very good infrastructure. The city has access to metro rails, local trains, a railway network, a bus facility, and airways. It has more IT industry, Government headquarters, manufacturing, and service sectors. It has access to all facilities will make this city a high-value real estate market. The property rates along with the infrastructural development have a high appreciation value. 

Passive Source of Income 

The investment made in real estate has become a major source of passive income too. Rental income helps you to pay off your loans and save your own money. If you are looking to buy a new house, invest in residential communities which are looked after by the residential association members. But, pay some amount for parking and maintenance facility. Luxury flats become one of the best investment options to gain higher rental income. Rental income becomes one of the major sources of passive income. People get migrated to Chennai for employment opportunities.

Increased ROI Value

The Return-On-Investment (ROI) plays a major factor in the decision, of whether to buy this home. Buying a house is one of the largest investments where their dreams are paid off. You won’t invest your money in something that does not bring you more returns. The factors involved in property rates for higher pricing are high infrastructure growth and the number of firms and industries. Once the country lockdown was over, the real estate sector increases huge demand. The selling value should be higher than the buying price.

Pleasant Retirement Plan

Sometimes your professional life leads you to different cities. You don’t have any idea where to settle down. But your future will reach soon as you think in the present. Your future home should have an access to good essential healthcare facilities. At your last stage of life, living in this place becomes an important factor to survive here.

Top 3 Locations to Invest in Chennai

Mogappair

It is in the central part of Chennai, and it is most near to Anna Nagar and Ambattur in Chennai, Koyambedu Metro rail is close to this city and makes travel easy to other parts of Chennai. Still, prices are not high and Mogappair is also an upcoming development area. Ambattur Industrial Estate near the place becomes one of the fastest residential development. Major IT parks in Ambattur are Ambit IT park and One Indiabulls park.

Manapakkam

It is one of the most popular places, where in recent days it witnesses fast residential growth. This place has reputed schools and colleges. It has access to essential care facilities. Most people are planning to buy a house for sale in Chennai. It has become an affordable and premium residential unit.

Pallavaram

It is the best area which connects from one end of the city to the other end. It is a growing area in the residential development. The buyers of the home are demanding a house for sale in Chennai. Property area price ranges between Rs 5200 to Rs 6500. There is a huge infrastructure in this area. The Metro rail network eases the path to Airport. It has more IT/ITeS sector. 

Conclusion

In the past two decades, the real-estate sector in this place has emerged a lot in terms of urbanization. It is the best city to invest in the real estate sector because of the excellent connectivity of transportation and rapid industrialization growth. It is the city where you have the luxury and spacious homes to support modern development. This place offers the best community residential villas for quality life and infrastructure. There are many areas, where one can get more return on investment. 

Also Check: Six Qualities to Find in Homeowners Warranty Companies

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