In the age of the stock market and mutual funds, real estate is still seen as a safe and healthy investment. Especially, NRIs have been showing special interest in real estate investments back home ever since the 90s.
The metro cities have been playing a key role in driving the real estate industry forward. The technological evolution in the early 2000s fuelled the growth even further and the returns from real estate investments started growing exponentially.
Among the metro cities, Chennai has been an attractive option for everyone inside and outside India. Good rental returns, an ever-expanding technological hub, world-class infrastructure, excellent connectivity are all the factors that have been attracting real estate investors to Chennai.
Is Chennai still a sought-after destination in the post-pandemic world? Hell yeah! Here are the top 4 localities where properties are selling like hotcakes right now.
1. Nolambur – The Next Anna Nagar?
The ever-growing population of Chennai has recently led to an explosion in the real estate market of suburbs. Nolambur is one of those suburbs that have caught the eye of Chennai’s residents.
- Proximity to vibrant neighborhoods
The close proximity to vibrant localities like Anna Nagar and Koyembedu are major attractions for young homebuyers. The Ambattur Industrial estate is also one of the key growth drivers contributing to the growth of Nolambur.
- Availability of all the basic amenities
The presence of renowned hospitals, schools, medical colleges, shopping malls, multiple gated community apartments etc, are expected to capture the interests of families looking to settle down or even invest in Nolambur.
- A growing number of tech parks in the vicinity
The presence of multiple multinational companies in and around Nolambur means that commute to the office is no longer a hassle.
- Connectivity to the heart of the city
The buzzing Poonamallee High Road and the infrastructure projects connecting Nolambur to other parts of the city are just adding more points in favour of Nolambur.
2. Why Madhavaram is a buzzing community for Real Estate investment?
Madhavaram was very famous for the Milk Factory among the residents of Chennai. Now the face of the entire locality has changed after a new lease of life due to real estate and infrastructure developments.
- Availability of properties
Madhavaram is a buzzing locality with the right amount of residential and commercial properties.
- Madhavaram is a transport hub
The new bus terminus and metro rail have transformed Madhavaram into a transport hub with connectivity to all parts of Chennai.
- Competitive and attractive pricing
Since Madhavaram is an upcoming locality, the competition is really high. Due to the competition, realtors offer attractive pricing when it comes to properties.
- Less traffic resulting in a cleaner environment
Thanks to planned development, Madhavaram is relatively traffic and congestion-free which results in a cleaner and greener environment.
3. Is OMR Still a Haven for Real Estate Investments?
The short answer is yes. Even if you hear otherwise, OMR is still a great place to invest for people looking to buy a property in the heart of Chennai.
Here are the reasons for it.
OMR is really well-connected with the city and the proposed Metro Rail extension is going to connect OMR with the rest of Chennai and its suburbs.
- A Modern World
Since OMR was recently developed the entire locality is perfectly planned and developed with modern amenities. This can be the perfect choice for people looking to have a modern lifestyle.
- A vibrant neighbourhood
Since the crowd is mostly young, OMR is always vibrant. Right from food trucks to fine dining restaurants, OMR has everything you would want in terms of food. And when it comes to entertainment, OMR has tons of malls with a majority of them having multiplexes so that you can spend quality time with your friends and family.
- Never away from your office
Around 60% of the technology companies in Chennai are located in OMR. This gives you better odds of being near to your office and cutting down on the commute time. You can instead spend that time with your family or binge-watching on Netflix!
PS: NautOne is in the heart of OMR and we have to tell you, WE ARE LOVING ITTTTT!!!!
4. The satellite township of Thirumazhisai
Tucked away in the western suburbs of this crafty city is Thirumazhisai. It is transforming the entire outlook of Chennai’s western suburbs by becoming a real estate investment hub.
- A perfect location for a property
Thirumazhisai is a buzzing locality just 7 km away from Poonamallee. Expansion plans of DLF IT Park and more proposals for office spaces from reputed names like RMZ, ASV, Rahejas have triggered real estate demand for localities in and around Poonamallee.
- The proposed satellite township
Apart from other projects, Thirumazhisai’s real estate market is booming because of the mega satellite township by the state government. The satellite township will bring together the villages of Chembarambakkam, Narasingapuram, Parvatharajapuram, Kuthambakkam and Vellavedu in addition to the 311.05-acre land belonging to the Tamil Nadu Housing Board.
- Opportunities provided by the NH-4 and the ORR
The Outer Ring Road has improved connectivity and the NH-4 becoming a part of the golden quadrilateral are seen as major drivers of growth in and around Thirumazhisai.
- Proximity to basic infrastructure
The proximity to basic requirements such as hospitals, colleges, schools, markets has all attracted investment in land and housing projects, thereby creating a lot of demand for land parcels and focusing projects.
How Metro Rail Expansion is Going to Positively Impact Chennai’s Real Estate?
This is the keyword whenever people look for their dream home or even a plot in which they want to construct. The Chennai Metro Rail has made this connectivity seamless and it has given more nodes to it.
The biggest advantage with Metro Rail compared to buses, taxis or autos is the avoidance of traffic. Suburban trains have been doing for a few decades now but there has been no expansion in Chennai’s suburban train network ever since they were thrown open to the public.
The Chennai Metro Rail has solved this problem by connecting a lot of new neighbourhoods that were traditionally dependent on roadways for connectivity. Now the Phase 2 expansion and Phase 3 proposals sound really promising for Chennai’s suburbs.
As a result of the Metro Rail Expansion, the land parcels and apartment rates have grown by a significant percentage in the suburbs. Even though it was predicted that the pandemic would bring the prices down or at least hamper the growth, the predictions have not come true. Especially, the areas surrounding the proposed Metro Rail stations have seen a significant appreciation in terms of value.
Apart from the value appreciation, people prefer to stay close just to reduce travel times. Just like any other metro city, traffic congestion is the main problem people would like to avoid by commuting by metro rail. Rising fuel costs also add strength and tilt the scale in favour of a metro rail commute.
What does NAUT-RE do?
NAUT-RE is the Real Estate vertical of Nautone Pvt Ltd. This vertical takes of any Real Estate requirements for both our clients and customers.
Can you sell with us?
Of course, you can. If you have a flat, plot or used flats for sales, you can get in touch with us and we can sell it for you.
Can you buy properties from us?
Yes indeed. As a buyer, you can get in touch with and provide information such as your budget, preferred location, etc… Once we take all this information from you, our experts will suggest the perfect property for you.
How much should you pay for Nautone?
As a buyer, you need not pay even a single penny to NautOne. All the real estate advice and services provided by Nautone for the buyers are free.
What are you waiting for? Book your dream property with us by paying zero percent commission right away!
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