Best Places to Invest in Chennai

Introduction

The business of real estate, the investment and sale of both commercial and personal property is one of the booming industries in India. The returns are very lucrative due to the high volume of investment from the middle class section of India where real estate was once difficult to consider. Today, with both parents working supported by banking loans, the real estate business has become accessible to one and all across the divide. Real estate is not just relegated to buying apartments, but also buying plots, or lands to either construct a property, or lease it, or sell at a future date. So land promotersare ever so many now both within the city and in the outskirts promoting attractive offers. Real estate in India is considered second largest to the agriculture business. Real estate companies offer housing schemes for different target customers such as high value customers, middle class working families, including foreign investment.

The Best Places to Invest in Chennai

Chennai has become one of the fastest hubs for real estate investmentre are many reasons that have contributed to its importance such as the quality of life, safety of women, well connected transport facilities, overall security for the general public, and its strong roots in heritage and culture evident during the famous December festival. It is also a matter of pride that the city of Chennai has been selected as one of the smart cities to be developed under Prime Minister’s Smart Cities Mission program. In addition, Chennai is also famous for its textiles, diverse automobile companies, and the strong presence of the film industry. The biggest impact on real estate is because of the strong presence of the Information Technology industry, which dramatically drove the costs due to high purchasing power.

So it is not surprising that there are properties dime a dozen strewn across the city in innumerable numbers. Hence it is imperative to choose wisely based on a number of parameters such as availability of amenities such as managing potential water problem, access to groceries, transport facilities, schools for children and similar critical factors. Some of the best places to invest in Chennai include Avadi, Shollinganallur, Chrompet, Korattur, Tambaram, Guduvanchery, Velachery and Sriperumbudur

Sriperumbudur for example is in a strategic position due to the presence of manufacturing companies and comprises Special Economic Zones (SEZ), which enjoy tax holidays, and regulations that support increase in investment, employment, and naturally further development. Hence making an investment in such an area gives a greater probability of generating income via rental whilst buying properties. Also, an important factor about SEZ is their key purpose is also to attract foreign direct investment to the market. Builders are also going in for building gated communities with all facilities..