Investing in anything can be a big step that has to be taken after sufficient research and thought. This blog discusses the benefits of investing in residential real estate in Chennai. It also discusses the various options available in the city and the benefits of choosing to live in Chennai.
“Ninety percent of all millionaires become so through owning real estate.” – Andrew Carnegie, industrialist.
Did you know that residential real estate is getting increasingly popular as an investment choice, and it will only grow? If you’re looking for an investment opportunity, here it is! The residential real estate industry in Chennai is currently booming. With the current rate of infrastructural development and rise in amenities, the residential market looks very promising and valuable. In 2021, almost 12,000 housing units in Chennai, India’s southern metropolitan city, were sold.
Is Buying a House in Chennai a Good Investment?
Chennai is the world’s fastest-growing metropolis and one of the busiest. It has been rapidly expanding to fulfil the increased demands of an ever-increasing population. Home to major IT hubs and amenities that make life comfortable, Chennai has not stopped growing in the past few decades.
The majority of people associate Chennai, or Madras as it was formerly known, with emotion. It is the ambience of the Chennaites and the location that attracts people from different states to come and settle here. Chennai is also close to a number of tourist attractions. Choosing to live in Chennai is one of the greatest choices because it offers several advantages. There are many fantastic options in the city, both professionally and in terms of educational institutions.
Let’s discuss the other benefits of investing in residential real estate in Chennai!
Benefits Of Investing In Residential Real Estate In Chennai
1. High ROI
Our primary purpose for every investment is to get high returns from it, especially in real estate. One of the major benefits of investing in residential real estate in Chennai is that you’ll get higher and quick returns on your investment. Supported by the constant infrastructural developments and growth in Chennai, the value of your investment will only increase over the years.
2. Safe and Secure
Real estate is undoubtedly one of the safest investment choices to make. The real estate sector, after Agriculture, is the second-largest employer in India and will grow by 30% in the coming decade. Hence, even with temporary setbacks, investing in real estate is a smart and safe option.
3. Added Source of Income
When you invest in real estate, you’re also adding a source of passive income. You can then use this income to manage the costs of the new home, pay off loans, and eventually just have more income coming in. You can also earn high-value rental income by renting out luxury flats in Chennai as serviced apartments, which are more valuable than renting to a single person. Hence, with so many different options and benefits of buying flats in Chennai, it is a great option!
4. Increasing Infrastructure Development
With the highest infrastructure rate out of all metropolitans, the benefits of buying apartments in Chennai are many. The city has already been well-developed and is well-equipped with modern amenities. The government continues to invest heavily in the country’s huge infrastructure development initiatives. Government offices, international IT corporations, and industrial and service industries abound in Chennai.
Chennai real estate will always be a high-value market due to its proximity to such infrastructure initiatives and the availability of all amenities. Commercial zones, such as hospitals, malls, theatres, and supermarkets, are in close proximity to residential zones. The property rates in this area continue to rise in tandem with infrastructure development, resulting in a strong appreciation value that benefits investors. You have a wide range of options, including villas, flats, and residential communities.
6. Smart City Initiatives
The connectivity of the metro rail is one of the many benefits of investing residential real estate in Chennai. The few destinations that were before difficult to reach can now be reached with a single swipe. The Chennai airport, which is one of the best in the country, is undergoing significant expansion in order to become smarter.
In the metropolis, automation is getting a fresh lease on life. Walking routes, mobile toilets for enhanced cleanliness, and other garbage disposal are among the public infrastructure improvements. Four-lane roads are being transformed to six and eight lanes to ensure that traffic congestion is alleviated around the city. There is now more vegetation, and many NGOs and other groups are working on a variety of projects to make Chennai a smarter and cleaner city.
8. Resale Value
The last but not least of the benefits of buying flats in Chennai is the resale value of your flat. If you decide to move out of Chennai and wish to sell your flat, you will be exposed to a competitive and profitable market and get a high value for your apartment. Thanks to the ever-growing demand, real estate agents would be more than willing to buy your apartment for a great price.
9. An Array of Amenities
All amenities are available and distributed throughout Chennai. Schools, colleges, entertainment, religious sites, and other places of interest. Chennai boasts the best malls and superstores, such as Spar, Big Bazar, and others. Chennai also offers some of the greatest medical facilities in the country. It features top-of-the-line facilities and world-class doctors with a stellar reputation.
These were all the Benefits of buying apartment in Chennai! Keeping in mind all of the above factors, you can see that investing in residential real estate in Chennai is a profitable decision! If you are looking for a place with all the benefits of investing residential real estate in Chennai, you can check out Tulive by GK Shetty, a chain of residential apartments in the most premium locations in Chennai!
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