India’s Leading Real Estate Developers are now entering Chennai market
With state-of-the art infrastructure and ease of doing business, Chennai is considered one of the best cities to live in India. The exponential growth of Chennai has made it a real estate hotspot for most leading real estate developers. Here is a look at the reasons why leading real estate developers in India are now looking at Chennai as a high potential market.
A fast growing IT hub
The fast-paced city of Chennai is listed among the top 10 IT hubs of India. Two of the most renowned IT parks, offering a multitude of white collar jobs, are Tidel Park and Ascendas located in Perungudi, in the outskirts of Chennai. This growing locality is a part of the eminent IT corridor of the city, situated in Old Mahabalipuram Road (OMR). It currently houses more than 50 top-notch IT companies and several small scale businesses. The rapid growth of social infrastructure in this suburban locality has led to the development of well-known schools, world-class hospitals and entertaining shopping malls, making Perungudi a hot destination to invest in for real estate developers.
Another fast-growing neighbourhood located in OMR and marking the end of the IT corridor is Siruseri, featuring the renowned SIPCOT IT Park. This again has lead to tremendous real estate growth making it a hub for NRIs and many potential home buyers to invest in.
Low real estate prices & high future appreciation
From an investment point of view, buying a house in Chennai is more affordable than other metro cities such as Mumbai. With Chennai expanding its horizons, the new fast developing areas such as Mogappair, Nolambur, etc. is seeing a lot of top quality residential projects coming up. Bangalore-based Brigade Group has also recently entered the market and is launching its Spanish themed premium residential project Brigade Xanadu in Mogappair.
Top quality lifestyle
Being one of the four metropolitan cities of India, Chennai is undoubtedly one of the best places to choose if you need both a relaxing and fulfilling living experience. In 2013, the city was ranked among the top 25 emerging real estate destinations. Today, one can clearly witness the astoundingly quick development cycle in numerous residential and commercial projects. The architecture, infrastructure and connectivity is ever expanding, with modern real estate development trends becoming a central focus in every project undertaken.
The real estate market in Chennai is one of the city’s biggest money churners. Chennai continues to have immense horizontal growth, with a vast majority of real estate projects catering to an audience of home seekers. Popular spots to own a home include OMR, ECR, Anna Nagar, Porur, Madipakkam, Nolambur, Ambattur and Tambaram. A good number of highly reputed real estate developers have set their sights on the city, so one can expect both a luxurious and affordable lifestyle.
Several infrastructure projects have been proposed which have a huge impact on the real estate market in Chennai. The Chennai Metro Rail provides seamless connectivity from one end of the city to the other with three corridors and 104 stations. The proposed Satellite Bus Terminus in Madhavaram is targeted on reducing traffic congestion and improve connectivity throughout the city. The Porur flyover and 6-lane Vandalur flyover are two of the eminent roadways focused on segregating local traffic from heavy-duty trucks. With such brilliant infrastructure projects, Chennai is sure to be your first choice when it comes to real estate investment.
World-class education hub
It’s a well - known fact that Chennai houses the country’s finest educational institutes. Every year, there is an influx of students coming from all corners of the globe, hoping to get enrolled in top institutes like the prestigious Indian Institute of Technology, Anna University, Madras Medical Mission, Stanley Medical College and many more. Some of the schools in Chennai are also ranked among the top schools in India.
The Smart City initiative was proposed by the Modi Government as a means to enhance India’s overall living standards. Chennai has been selected a one of the many cities under the development program. The objective of the Smart City program is to expand each and every city’s urban development, including better roads, better infrastructure and improved lifestyle amenities.
Chennai has put India on the map with breathtakingly beautiful tourist spots to visit and take back memories from. It houses the massive Marina beach, which is the second longest beach in the world. Semmozhi Poonga and the Theosophical society are few of the natural parks to visit and indulge in the lap of nature. The Kapaleeswarar temple and Mahabalipuram are must-visit places to get an insight on the cultural and religious aspects of the localities. You can also plan a weekend getaway to the breezy beaches of Pondicherry to unwind and destress.
With a plethora of reasons to invest, you shouldn’t think twice about making Chennai your favorite living destination.