Why This Is The Right Time To Invest In Chennai
By EVENTE CLINIC
In the first term NDA government has taken a lot of real estate initiatives ranging from passing the RERA Bill in 2016, implementation of the Goods and Services Tax (GST), providing interest subsidy for affordable houses under Pradhan Mantri Awas Yojana under the “Housing for All” scheme of the government and Benami Transactions (Prohibition) Act, Insolvency and Bankruptcy Code etc.
The second term for the NDA is great news for the real estate market. An investor should be looking to grab on the opportunity to enter the market at the right time. In this article, we are going to look at one of the most promising cities in the country to invest in – Chennai.
Here are the top 5 reasons to invest in Chennai –
The Demand – The demand for housing is increasing with time and it is because of the migration of people from other parts of India. Many people get jobs and they are arriving in Chennai. So, these people are in need of housing and the real estate market is benefited because of this migration process.
Infrastructure development – In recent times, Chennai has witnessed amazing infrastructural and even commercial developments. And this kind of developments directly influenced the real estate market and it created a huge demand among the people.
Less risk – Chennai has registered significant growth in the last two decades, but it is still to achieve its full potential. If experts are to be believed, if you invest in Chennai’s real estate now, your money will be safe and you can continue to get good returns over the next 5-10 years.
As a real estate investor, you should always gun for the maximum yield from the investment. The rental demand for residential apartments in Locations like OMR, Porur and GST Road in Chennai is huge because this catchment area is surrounded by a lot of IT Parks and Big companies and people are actively looking for a lifestyle apartment on rent -Rajesh Srinivasan, Deputy General Manager – Marketing, DRA HOMES.
Easy to sell – The property market in Chennai is not just huge, but it is also very fluid. A lot many people know about the potential of Chennai’s real estate market, which is why properties in the city keep changing hands unlike the other cities in India. When you want to sell your property in Chennai, rest assured that there won’t be any dearth of potential buyers.
“In the coming years, Chennai’s development will not just be quantitative; rather, it will be qualitative as well. ”
Diversification – It’s anchored by the automobile, software services, hardware manufacturing, healthcare, and financial services industries. This diverse economic base is ably supported by the Chennai port, which is the second largest in India and a key facilitator for import-export of goods. Presence of a vibrant economy creates ample job opportunities and leads to massive real estate development in the city.
In the coming years, Chennai’s development will not just be quantitative; rather, it will be qualitative as well. A number of infrastructure development and city beautification projects have been announced such as monorail project, new metro routes, renovation of lakes and water bodies, widening of roads, upgrade of sewage and water supply lines, etc. All and all, it is one of the best places to buy property in India.
If you are looking for some great projects in Chennai, our team of experts can help you find one. You can write to us at Support@eventeclinic.com.sg or call us at 97547616