Future of real estate in Chennai in the year 2020 – where should you find your residence?

People work and earn all through their lives and wish to save a good deal of money to handle their post-retirement life. Of the few venues where people wish to save, real estate ranks first. This is because the appreciation of lands and houses is excellent and the return on investment for any real estate property is excellent. This is true especially in a metropolitan city like Chennai. Some of the areas in Chennai such as the OMR, ECR, Urapakkam, Guduvancherry are realizing tremendous appreciation and their infrastructure is gaining a new shape.

In a number of suburbs of Chennai, such as Siruseri, Chemencherry, Kelambakkam, etc, the appreciation is many folds as there are a number of higher education institutions in these regions. These zones are also growing to become the IT corridors of Chennai. The value of an apartment in these areas is about Rs. 4500/sqft. The appreciation in these areas are increasing by 10% every year.

Many people also migrate to Chennai in search of jobs and for higher education. In the past few years, there is a steady influx of People from North India to Chennai as they are easily able to find a job here. As a result of this migration, there is a steady need for housing for the immigrants. Many people look for flats for rent in Chennai according to their budget, and close to their area of work.

People in the state, look for apartments for sale in Chennai as they are able to realize income tax deduction and a higher return on investment compared with mutual funds and other investments. There are also a number of advantages to booking luxury apartments in Chennai and those are as follows.

Reasons why apartments in Chennai are the best investment options?

• There are a number of options available for investment, but luxury apartments in Chennai top the spectrum of investments in Chennai. The real estate development act and regulation have also enhanced the confidence of consumers in investing in luxury apartments.

• There is an increase in real estate sales and launches with the overall growth and modernization of the state. There is also a tremendous growth in the sales of luxury apartments in Chennai

• Buyers are offered with a number of flexible payment plans when it comes to buying a property, which is not just flexible but is also friendly and smooth at the pocket.

• There is excellent transparency in real estate investments. Investing at apartments for sale in Chennai brings about excellent return on investment along with excellent living standards.

Top locations to buy apartments in Chennai:

Investments play a major role in one's life. Apart from investing in shares, jewelry, mutual funds, shares, fixed deposits, people also show tremendous interest to make real estate investments. It is also speeding up as one of the long term investment options for people. Investing in a metropolitan city is the latest trend and is the latest catch and there are a number of real estate clusters developing in the city. But it is important to choosing the most suitable area to make the right investment. Some of the prominent places to make real estate investments in Chennai are as follows,

Old Mahabalipuram road: The OMR is one of the fast-developing areas in Chennai and it is a hub of the IT companies in the city. It is also the house for top-notch educational institutions, health care centers, and entertainment venues. It also features a number of excellent transport facilities and infrastructure. All this collectively makes OMR the preferred destination for property investors.

Oragadam: This is the fastest developing suburbs in the city that is located strategically between the NH 4 and the NH 5. This destination attracts both residential and commercial buyers as it is located in the center of the city.

Porur:Porur is one of the important western suburbs of Chennai. This place is referred to as the end user's destination. A number of real estate projects have based their projects in the city. The place has both affordable and luxury flats for sale in the city and also enjoys excellent connectivity. Porur is easily accessible to interstate Chennai and Bangalore highway, intercity Chennai bypass and Poonamallee

The rise in budget apartments in Chennai:

According to the property index laid by the Economic times, it has been estimated that there is a steady and increasing demand for budget apartments in the Chennai city in recent months. There are a number of reasons that influence the demand for budget apartments in the city.

• IT boom: Chennai is a software hub for over 20 years and has attracted people from all over the country. Those who come to Chennai stay in the city for a period of two to three years. So people prefer to book flats for rent in Chennai or prefer to buy budget apartments in the city.

• Population: The population of the City is increasing tremendously with each passing year. The demand for houses also keeps increasing as a result. Thus people wish to build and buy budget apartments that are smaller in space and lower in cost. These housing projects are also able to accommodate more families.

• Long term investment: People in Chennai prefer to look for apartments for sale in Chennai in the range of Rs. 30 to Rs. 50 Lakhs. This is true in the case of the new married couple and young professionals who look for affordable apartments. Some people book multiple apartments as well as a means of their long term investments.

Booking apartments in Chennai:

When it comes to housing, there are a number of options in Chennai. Some of the top locations in Chennai to look for apartments are, Medavakkam, Maraimalai Nagar, Urapakkam, Perungudi, Guduvancherry, etc. It is possible to book apartments here for as little as Rs. 30-35 Lakhs. One can take a glimpse of all these apartments in Chennai at housing.com. It is one of the largest online portals that helps people with their housing needs. It lists properties in the Chennai area wise along with their cost and the website is highly transparent in its services.