South Chennai’s Property Market offers a Host of New Residential Launches

OMR continues to be a leading real estate destination for property investments in south Chennai with new launches registering almost every day. The following post takes a quick look at south Chennai’s property market.

Property market scenario in South Chennai

With the recent announcement of the Budget, the real estate sector has been given many reasons to smile about. The real estate market has been experiencing many challenging times over the past few years, especially last year with the rate of sales of properties going down considerably.

Chennai is known to be a price sensitive city when it comes to properties and after the budget, the market is estimated to be driven by the consumers directly and a growth in the sale of the residential properties may witness a stark increase. Localities such as ECR and OMR have new residential addresses with many new properties being developed by the builders. The idea of affordable housing has typically taken over the real estate market in Chennai with more and more people showing willingness to buy properties and lands in the suburbs as well as the main city.

South Chennai: Most Sought After Realty Destination

Reports prepared by the real estate consultants reveal that Chennai is increasingly becoming one of the most preferred destinations for people interested in investing in properties, both residential as well as commercial. Chennai, as a city, has always been preferred by most of the people for investing in residential properties and the rate of appreciation is estimated to increase by manifolds in the coming years as well.

According to reports prepared by Knight Frank India, residential properties in south and west Chennai is expected to witness maximum growth in the coming years owing to factors such as increase in employment and number of migrants, impeccable connectivity with the rest of the city and the important locations, development of infrastructure according to the plans, increasing proximity to the various commercial properties that houses the corporate offices and other commercial spaces such as shopping malls, movie theatres, etc. The biggest draw is touted to be the availability of land for building big residential projects at a much more affordable rate.

Shifting focus to South Chennai

While buying or investing in properties, budget and affordability is a big concern. But when it comes to investing in properties in Chennai, the concern may be overlooked to a great extent. In South Chennai, there are localities that may perfectly fit the buyer’s personality and lifestyle type. The increase in the employment market and growth of commercial spaces accommodating offices and others gives an opportunity to the builders to look for areas where the buyers’ focus is shifting. South Chennai has the advantage of providing land and water facilities. Localities such as ECR, Velachery, OMR and Tambaram are known to be registering fast growth in terms of real estate and are attracting many new buyers, including NRIs. The properties in these areas are less costly and stand good for long term investment plans.

New Residential Launches in South Chennai

Olympia Opaline Sequel, at Old Mahabalipuram Road is a promising residential project to look forward. Spread across an area of about 75 acres. This property houses luxury residential apartments that are known for their superior standards of construction and the amenities. The entire property has been beautifully landscaped and has backwaters to add to the value of the beauty of the property. One of the key highlights of Olympia Opaline Sequel is the presence of about 85 percent open space along with having one of the largest clubhouses that are present in any of the residential properties in Chennai.

The project has three towers, 250 units and 17 floors in each block. The towers are named Moonline, Topaz and Ruby. The sports enthusiasts can enjoy swimming and gymming in the society. There is also provision for rain water harvesting and residential space allotted for the society staff members, huge car parking area and the property is constructed according to the rules of Vastu Shastra.

 

Chennai is one of the cities in India that promises a comfortable yet luxurious living at an affordable rate. When localities such as Tamabaram, ECR or OMR has new residential addresses to offer, the rate of sale and investment in the real estate is bound to increase and show a positive growth in the overall realty market industry of the country.

Chennai Offers Ample Options in Land Investments

Of late, Chennai’s real property market is witnessing an upsurge land investments. Some builders are also focusing on the same. There are ample reasons for considering investing in land in Chennai. Read on to know more.

Land Investments in Chennai

Aggravated by a combination of various factors such as land policies, registration charges, the Chennai property market experienced a mixed bag of signals. Despite all these, the real property market of Chennai continues to be heavily end user driven. While apartments still have a fair chance over all other types of residential properties, of late residential plots have also taken to consumers’ fancy. End users are often seen focusing on buying or investing in residential plots in Chennai. Needless to say, some real estate builders are now focusing on land plots rather than building apartments.

North Chennai, one of the leading property markets of the city has been witnessing a spurt in property investments. And this time, the developers have started focusing on residential plots. Let’s explore one such new residential project that is coming up in the locality of Thiruvallur in north Chennai.

Named Jeevananandam Executive 45, this particular real estate venture has been developed by the Jeevananandam Group. Located in the heart of Thiruvallur, in north Chennai, this project has turned out to be one of the leading ventures for those looking forward to investing in residential plots. These plots are being offered at extremely competitive prices and also promise to offer all kinds of modern amenities. Currently, the plots are priced at INR 5 lakhs to INR 20 lakhs.

Why Consider Investing in Residential Plots?

Of late, investment in residential plots has become rampant among the end users of Chennai. Moreover, investing in a plot in Chennai is nowadays being considered more fruitful than other form of investments. So, why should you consider investing in plots in Chennai? Ponder over these reasons:

Affordability Quotient: Affordability is one of the main reasons why plots score over fully constructed apartments. Both the end users and investors are focusing on this particular segment for investment purpose. A builder was recently quoted saying “The majority of plots fall under Rs 5 lakh budget, with sizes varying from 600-2400 sq ft in the aforementioned localities.”

Returns on Investments: If affordability is the foremost reason, another reason that lures end users towards residential plots is the returns on investments. Resale values and returns on investments are much higher in case of residential plots.

So, if you are planning to look beyond the ordinary investment options within real estate, you may consider investing in residential plots in Chennai. Therefore, go ahead and grab the deal as soon as you can.

Sampurna Majumder is a professional writer and a passionate blogger. Currently she is writing content for several websites that cover latest trends related to real estate in India such as these as well as other fields. The above post explores the Chennai property market.

Porur, Chennai’s Upcoming Realty Hub!

Chennai is often regarded as the most affordable real estate metropolitan city in India and is considered one of the safest investment bets, backed by comparatively lower initial investments and consistent value appreciation of properties. The article details a residential project in one of the upcoming realty hubs of the city. Have a look!

Property values in prime locations of Chennai, such as Old Mahabalipuram Road (OMR), Poonamallee, Porur, Velachery, to name a few, have been lucky to see an upward trend since the end of 2013. Porur is one locality that has hosted a number of new residential projects of late and has been a preferred choice of the homebuyers and builders, thanks to the rapidly growing infrastructure here. Let’s have a look at one of such upcoming projects in Porur, which has fetched a number of buyers.

Prestige Bella Vista

Prestige Bella Vista is an ecstatic mix of modernity and nature, which brings in well-designed flats in Porur, Chennai. The residential units are constructed in a total area range of 600 Sq. ft to 2621 Sq. ft. Spread across a big area, Bella Vista flats are designed keeping the day-to-day requirements of today’s generation. Price range for the project is Rs.28.8 Lac to 1.7 Crore. The project will be ready for possession by November 2016. Bella Vista is located on the Mount-Poonamallee Road, which is also popularly known as the second IT corridor of Chennai.

Project Specifications

This big project is spread across a whopping area of 25 acres, where 19.5 acres of area is left for developing greener spaces. Prestige Bella Vista, Porur, Chennai brings in a number of variants of 1, 2, 3 and 4 BHK residential apartments, which are designed to offer a gated community lifestyle to the residents. Equipped with all types of amenities and facilities, Bella Vista is worth to invest money in. Some of the specifications of the project are:

• A fully equipped clubhouse, 2 swimming pools, a health club and a children play area
• Landscaped garden and green spaces
• Uninterrupted water, gas and power supply
• Wi-Fi and Internet connectivity

Location advantages

Porur is one locality in Chennai, which has witnessed some rapid infrastructural developments lately. The location ensures proximity to the leading educational institutions, retail spaces, super markets & public transport, health care centers, airport, and bus stands, among others. This locality will soon witness construction of a MONO Rail Station, making commuting quite easier for the residents. Experts suggest that such infrastructural developments are expected to accelerate the appreciation of the investment.

Porur, the Latest Hotspot for Residential Developments in Chennai

Porur has witnessed some new residential projects from the renowned builders of Chennai. The article explains about the real estate scenario of Porur, as well as a new project named Infinity by Urban Tree Pvt. Ltd.

Porur is one locality in Chennai, which hosts a number of properties, ranging from affordable ones to luxury apartments and villas. The experts suggest that the reasons for such a rapid growth of the real estate in the area have been quality infrastructure along with greater connectivity through wide roads and local commuting options. Besides, emergence of corporate and IT companies in the area has added to the real estate values of the properties in the nearby areas and has attracted a lot of buyers and investors.

Infinity by Urban Tree

The introduction of new projects in the area has defined the growth rate of realty in Pour. A number of builders have shown their interests in offering homes to the investors as well as end users. One such builder is Urban Tree Pvt. Ltd., which has come up with its new residential project named Infinity in Pour. Urban Tree Infinity boasts of 198 well-designed homes, offering round the corner ventilation and light. Infinity ensures 42% of the open area along with a range of property types, including 1 BHK, 2 BHK studio homes, 2 BHK regular and lifestyle homes, 2 BHK with study & 3 BHK apartments. These properties have a total built area range of 667 – 1518 Sq. Ft. and have a price range of Rs. 35.35 lakh to 97.82 lakh.

Urban Tree Infinity

Urban Tree Infinity, Porur also offers a 10,000 Sq. Ft. courtyard and a clubhouse sprawled over an area of 7500 Sq. Ft. Housing some incredible features such as a mini theater, a multipurpose hall, a well-designed sports complex, skating rink, rejuvenation center, and other international facilities, Infinity is a perfect place to invest the money in.

Some other features of Infinity include:

• Piped gas supply
• Sewage treatment plant
• Individual RO units
• Complete power backup and water supply
• Visitor’s car park

Why you should invest in Porur?

The area is among the fastest growing localities in Chennai, which ensure remarkable rental returns and property appreciation. Porur is located in proximity with other important facilities such as educational institutions, shopping complexes, malls, and the corporate areas.

Experts speak

Abhishek Mehta, MD of Urban Tree Pvt. Ltd. also explains that the availability of numerous shopping complexes and entertainment zones, as well as growing special infrastructure have attracted a number of home buyers to invest in Porur.