Chennai is the Best Investment Destination in India - Candy GPS

Author: Rubina Begam

According to a recent study by Candy GPS Report Chennai has been ranked as one of the top real estate destinations in the world. Chennai has achieved this feat by competing with hundreds of other business cities in the world. As per the report, Chennai (formerly known as Madras) is already a magnet to Ultra High Networth Individuals in the region and is therefore already a recognised and fashionable enclave.

It has a diverse economic base, strong cultural life and arts base, including cinema and film production. Chennai has a national park within its boundaries and the nearby Mahabalipuram UnesCo world heritage site further enhances its status.

Chennai has always been a steady residential real estate market, as it is largely driven by end consumers unlike other cities in India. Due to this rate per sq ft did not fall down even during turbulent times.

Other cities which were featured in the report:

  • Tel Aviv, Israel

  • Melbourne, Australia

  • Miami, USA

  • Chicago, USA

  • Dublin, Ireland

  • Panama City, Panama

  • Beiru T, Lebanon

  • Istanbul, Turkey

  • Cape Town, South Africa

  • Jakarta, Indonesia

  • Lagos, Nigeria

Chennai will witness huge investment by way of FDI in real estate as the market is resilient and it provides good investor climate. The city will get more visibility in the international investor community thanks to this report.

Chennai has been picked as one of the top 12 upcoming destinations for Luxury Real Estate, according to a report by Savills World Research, in cooperation with design firm Candy & Candy and Deutsche Asset and Wealth Management. The top cities includes Tel Aviv, Melbourne, Miami, Chicago, Dublin, Panama City, Beirut, Istanbul, Cape Town, Jakarta, Laos and Chennai in that order. Tel Aviv is the most expensive city where a 2 bedroom luxury apartments costs 1.45 million USD and Chennai is the least expensive luxury destination where a 2 bedroom costs 160,000 USD.

People who want to invest in real estate in Chennai irrespective whether they want to buy apartment, or to buy villa, or to buy plot can invest money now, as rates are expected to increase in the medium to long term. Flats in Vandalur, Flats in Avadi and Flats in OMR are also best places to invest on Real Estate.