Homes, apartments, townships, luxury flats and what-not have today become part and parcel of life in Chennai. Wherever one goes, one can see new high-rise apartments being constructed, new villas coming or new townships becoming landmarks in different parts of the city. In this huge concrete jungle, how does one decide where to invest?
Once a place that was deserted, the road now wears a new look and name (Rajiv Gandhi Salai), with IT companies, commercial complexes and star hotels dotting the sides of the road. Definitely the hottest place to invest in property in Chennai right now. Good appreciation is predicted and it also gives great rental income if you are an NRI looking for investment.
2. ECR (East Coast Road), Chennai
The place known for its hotels, beach resorts and weekend parties. ECR offers a calm reprieve outside the bustle of the city, yet quite easily accessible to the centre of the city. Go for a beach-view apartment along the ECR and let the calm, beautiful home do the work in increasing your money!
3. Velachery, Chennai
Another part of the city that has grown phenomenally in the last few years. Velachery and the areas surrounding it – Madipakkam, Medavakkam and Pallikaranai – are the new hot names in the Chennai real estate scene. Exquisite apartments are available at budget rates, which will offer a definite appreciation in future.
Some of the other up and coming areas include –
Sriperambadur – predicted to be the new face of Chennai in a few years
Thirmangalam – think of it as an ‘extended’ Anna Nagar
These are just some of the hottest real estate areas and the list does not end here. Always remember to do your research thoroughly and be doubly-sure of where your money is going before making the final decision. We at MARG Properties are always willing to help and guide you through the process of building your dream home with us!
The Millennium year 2000 was an earmark in the history of Chennai real estate sector. Prior to the year 2000 ECR was only an entertainment cluster and OMR being the IT hub of Chennai. The hidden wealth of these two geographic zones meticulously conducted themselves as a standalone of their own. The prosperity and divergence in various avenues was latent, until the year 2000.
The hilarious growth on the OMR has so far been in favor of the commercial space for the IT & ITES related sectors. The presence of IT activities projected to churn out over more than 50,000 new jobs every year, the need for properties, malls and leisure amenities in the surrounding environs is cropping off in a novel style.
Shopping malls with retail chains, hyper markets, food joints, multiplexes and other amusement formats have optimistically indulged Chennai’s IT corridor. In the next couple of years the financial city will also augment this geographical location and position Chennai to its summit. In spite of the fact that the small IT firms are emerging, simultaneously IT conglomerate are whopping in the IT corridor. All these activities visions Chennai’s buddy city.
Virtually by the end of year 2015, starting from Taramani to Kelambakkam and even further up to Mahabalipuram satellite cities will aperture, a chunk of properties would be from the small housing promotion. The entire evolution experienced on OMR is phenomenal in gifting the best standard of living. Amenities ranging from basic facilities like swimming pool, club, Departmental stores, etc are inclusive. Few property development will embed facilities like Educational institutions, Health care units, Multi national companies and lots more.