Real Estate in Chennai comes of age

There seems to be a major thrust in people wishing to buy non-agricultural plots outside the cities. The same is the case with Chennai, the latest destination that beckons people to have second homes. The current real estate in Chennai flickers as a boon and blessing in terms of affordable housing.People are moving towards Madurai and Kanchipuram to develop their dream homes. Until five years ago, the South Indian buyers were only interested in affordable housing. Now the scene has changed with the emergence of skilled IT sector attracting professionals and NRIs returning.  An element of luxury, comfort and modern amenities has triggered a new phase in business for developers. What should a potential buyer look out for when making investment in real estate in Tamil Nadu’s oldest towns and cities?

Fed up of cityscape?

Most people who work and live in downtown Chennai feel the need to move out of the old comfort zone and move into a modern comfort zone. Such homes, whether in the city or on the outskirts, provide an asset that only appreciates over a period of time. The large expansion of Chennai suburbs is an indication that IT sector has bought a boom in real estate development. There is better connectivity and infrastructure is also developing in the urban areas. Suburbs on the south side, which cover locales, like Old Mahabalipuram, Siruseriand on the other side GST Road and NH45 are in demand. What’s more, people prefer greener and quieter pastures. 

Madurai, a potential residential option for second homes

The coming of the IT Park in this region brings hope and many people to invest in homes, NA plots and offices. In this 3^rd largest city in Tamil Nadu, the ancient township is giving way to modern changes. The landscape and the skyline is changing as many investors look beyond real estate in Chennai to make second homes. With a lot of disposable income, it is possible for young adults to invest in second homes for themselves and for parents. With connectivity from airport and railways this town is a second home paradise. The airport and Aruppulottal station (6 kms) and bus stand (5kms) offer access towards rest of the country.

Kanchipuram’s projects pick up

What Banaras is to north India, Kanchipuram is to south India. It is one of the holiest and ancient cities still in existence. Kanchipuram silks are still famous worldwide and now its real estate is beckoning the investors. Since the town attracts many business people, the charm now lies in their buying several NA plots, apart from other real estate in Chennai. The city is close to Arcot and Cheyyar highways and is very well connected to the rest of the country.

Chennai’s clout as a valued real estate sector

There is a strong reason why ‘Chennai’ is called the ‘Gateway to Southern India’. Formally called Madras, as a destination to live, work and stay it offers very affordable housing solutions. Builders are offering end-user friendly properties.