Chennai is Most Favorable Destination for Investment

Being in the list of the 12 most preferred cities in the world for property investment, it doesn't come as a something amazing to see a wave of property buyer’s sentiments flowing. Potential residential buyers and property seekers are now showing an interest in purchasing properties in Chennai for its high return on investment. The appreciating capital values of homes are luring many local and national real estate developers to create many states of the private art ventures.

The steady housing demand has resulted in the creation of many active residential catchment areas. Recent reports suggest that regions along the western side of the city have recorded a high absorption rate. With the affordable property in Chennai selling more inventories, developers are now creating an array of homes that meet the needs and demands of Middle Income Group individuals. Peripherals along the East Coast Road, Poonamallee, and OMR are bustling with developing activities. Factors like solid infrastructure and the developing IT sector have lured many white collared professionals to invest in smaller properties in Chennai.

With infrastructure being a primary element that is roping in a lot of investment, the city has many projects in the pipeline. The Chennai Metro and the proposed Outer Ring Road on National Highway 4 have brought the city on the global map. Renowned property developers are now purchasing land to significant parcels along these projects only to build extraordinary living spaces. They are now wooing potential property buyers by offering luxurious living spaces at relatively affordable prices.

Neighborhoods like Ambattur, Sriperumbdur, and Oragadam, have recorded intensification of 25% in the past few years. Depending on the facilities and amenities offered by the developers, properties for sale is expected to float over anywhere between Rs 4,000 to Rs 4,500 per square feet. Similarly, realty prices of plots and villas to have seen an escalation of 18% in the past two years. For instance, an individual property in Chennai for sale, especially in regions like Ambattur and Oragadam, is cited to fall under the price between Rs 2,900 to Rs 5,300 per square feet depending on the facilities offered by the developers.

Apart from being an ideal investment location, Chennai transforming into becoming a rental center point. The growing IT sector has attracted a fair share of the free population and migrants are now showing enthusiastic interest in renting out places close to their office spaces. Investors and second-time property buyers are now knocking into this demand and are buying properties only to rent them out on a later date. Property in Chennai is easily capable of beat out rental yields anywhere between Rs 12 to Rs 22 per sq. Ft. per month becomes a haven for many investors.

Make use of this opportunity to your best and invest in properties in Chennai as they not only promise a high return, but they also generate high rental returns making this real estate market a hit amongst many property seekers and investors.

Rahul Kumar has an excellent Knowledge about investment in Indian Real Estate industry. He passionate about writing about Real Estate market and investment for more details you can check out his latest articles on http://www.buyproperty.com/articles.