Real Estate market in India has seen many ups & downs. Even though it was considered as the hottest option for investors.
And today we are going to discuss about the two residential real estate destinations in South Chennai that has seen historical rose in price. According to the report by Knight Frank these 2 areas are listed in the top 13 residential destination in the country, from an investment point of view.
Before get into detail lest see the list of top 13 real estate destinations in the country and which cities they are into.
Mumbai - Ulwe, Wadala & Chembur
Delhi NCR - Noida Extension & Dwarka Expressway
Chennai - Medavakkam & Pallikaranai
Pune - Hinjewadi, Tathawade, Ravet & Wakad
Bangalore - Hebbal & KR Puram
I am speaking about Medavakkam and Pallikaranai, the two hot residential destinations that has seen historical changes in price. Due to which they both holds 6th & 11th position of largest real estate destinations for residential real estate investments in India.
What makes them so special.
One of the reason for the price increase is due to the larger availability and increase in number of IT/ITES companies in nearby areas like OMR and GST. So the people
in this area is well connected to the employment hubs of the city.
As per the report the prices in pallikarani are expected to increase by 93% over the period of 2012 to 2017.
Medavakkam which is in close proximity to areas like Chennai Airport, Sholinganallur, velachery and Tambaram makes them so special. The significant areas like Chrompet,
Pallavaram and St. Thomas Mount can be easily accessible from Medavakkam. And as per the report the property prices are expected to increase 103% over the period of 2012 to 2017.
And finally if you are a real estate investor in Chennai then Pallikaranai and Medavakkam will be an aspiring choice.