Positive and negative attributes of buying properties in Velachery

Cited to be one of the most preferred residential localities in Chennai, Velachery is an ideal realty hub. Its developing social infrastructure and proposed infrastructure projects are some of the factors that have flourished the locality’s realty sector. However, there are few things one needs to keep in mind before purchasing properties here. So for all the first time home buyers, here are a few attributes you need to keep in mind before buying flats for sale in Velachery.

Location plays a pivotal role when it comes to buying a property and with the neighbourhood very conveniently nestled near OMR (Old Mahabalipuram Road) - the locality boasts of having great connectivity. The propositions to create several elevated roads and skywalk have caught the eye of many property developers. Developments to create a elevated road beginning from Raj Bhavan along the Velachery Road to Bypass junction has attracted a lot of foreign investment. Investors are now purchasing a property in Chennai for sale especially in Velachery only because of the infrastructural developments.

The announcement to extend the Pallavaram and Thoraipakkam aerial road to ECR (East Coast Road) has boosted the housing influx. Due to the seamless connectivity to ECR - working professionals from neighbouring micro markets like Shollinganallur and Thoraipakkam are now purchasing flats for sale in Velachery. According to current price trends, capital values of apartments here are cited to range anywhere between Rs 5,230 and Rs 9,689 per square feet. Average property rates for builder floor apartments are cited to cost Rs 6,625 per square feet.

Developments along the Taramani Link Road too are flourishing Velachery’s realty sector. De-congesting traffic towards OMR - homes buyers from OMR are now showing a keen interest in owing properties here despite higher property values. Both local and national real estate developers are now tapping the growing demand and are penetrating the realty market. According to recent reports, the vicinity has over 16 ongoing residential projects that cater to the needs and demands created by the cosmopolitan crowd. First time home buyers from neighbouring localities like Perungudi, Vanuvampet and Adambakkam are now buying flats for sale in Velachery.

However, the vicinity has a few drawbacks. With Velachery being a low lying area- several roads in the vicinity submerge during the rainy seasons. The authorities are finding it really difficult to tackle the situation and hence leaving the residents in a soup. The stretch linking Bhuvaneshwari Nagar to Velachery along Annai Indira Nagar faces severe water logging problems. The never ending construction work too is adding to the woes.

Despite all these drawbacks, the vicinity still remains to be a sought after residential destination in Chennai. So if you come across a deal that offers a property in Chennai for sale especially in Velachery- thinks about the good and the bad and then purchase the property!

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