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?

Here are some of the hot real estate areas in Chennai which we think are good places to invest in:

1.    OMR (Old Mahabalipuram Road), Chennai

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.

4.    Others

Some of the other up and coming areas include –

• Porur
• 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!

If you are wondering of what use it is to invest in a hot property in Chennai while you live far away from your hometown, then think twice BEFORE you drop the property investment idea.

As an NRI you can rent out your property in Chennai. Not just that you can repatriate the rental income and no prior permission is required. Tax will be deducted at source on rental income, therefore you can choose to repatriate the rental income or use it to pay your home loan fully/partially.

On the one hand you have a property that is fast appreciating in value, and on the other hand you have a monthly source of income by way of rent that can be used for whatever purpose you deem important.

Hire a reputed real estate agent who specializes in local and international properties/ residential developer with allied services, so you don’t have to worry about getting a tenant for your apartment in Chennai. You can always try the tried and tested formula of getting tenants through known sources, however going through an established real estate firm would be advantageous for you.

Normally tenants of big real estate agents are reputed officers from big corporate companies therefore your apartment is in safe hands and your monthly rental income is assured.

Properties on sale in Chennai are galore, choose the right one, and earn returns on investment while you are still working.