Thinking of Buying a Property in Chennai? Here’s why it is a Valuable Investment

by VGN Projects VGN Project

Properties in Chennai have been in huge demand for the past few years. People see it as a valuable investment that has the potential to yield high returns in the future. There are many reasons why there is a perceived appreciation value attached to Chennai’s real estate market. As per the reports by Statista, more than 14,000 housing units were sold in Chennai in the year 2022. It indicates the rising sales curve in the real estate market post-pandemic.

If you are thinking of investing in a property in Chennai then here are some points in terms of economic development, market trends, and ease of living conditions that you should consider.

Phenomenal Rental Market

If you are focused on real estate investment for income yield then it is surely the right decision. Chennai is an excellent rental market owing to its popularity as a business and IT hub. Over the years, there has been a huge influx of people in this beautiful city who are looking for rental places to stay. In the year 2023, Chennai stands 5th in the top 10 largest cities in India in terms of inhabitants in million. 11.73 million people are living in this city currently and the number is expected to rise in the future.

Infrastructure Development

There is a huge demand for residential and commercial places in Chennai as it is growing at a very fast pace. Property investors can bag a great deal on their properties that are located at strategic locations. Furthermore, infrastructural growth has fuelled property demand. Better connectivity with Chennai Metro Rail expanded road networks, and the proposed Chennai-Bengaluru Industrial Corridor and easy accessibility are also great drivers for surging property rates.

Stable Real Estate Market

When you see the past data, the real estate market is quite stable. The property rates have appreciated over time giving a great return on investment to the investors. Past records may not be the projection of the future but they give confidence to the real estate investors in Chennai. The market has withstood extreme price fluctuation but still stood the test of time.

Booming IT Hub

Digitisation has entered every aspect of life. Some cities have been early adaptors of the change and Chennai is one of them. In the past few years, there has been tremendous growth of IT infrastructure in the city including the IT Corridor (OMR), Tidel Park, and DLF Cyber City, Chennai. Many professionals have migrated to Chennai and living in rented apartments. Many of them are looking for permanent settlements in the city and looking for home-buying prospects. So, whether you want to sell or rent your property, you can get a great deal.

Ease of Living Index

Chennai is considered the second-best metro city in India. The city scores very high on social factors such as security, education, and health. It is not only known for its rich cultural heritage but also competes with major cities in India when it comes to quality of life. It has an excellent educational system, business prospects, IT infrastructure, connectivity, and healthcare. All of these factors are major contributors to increasing the attractiveness of a city.

Investing in localities such as Anna Nagar, T. Nagar, Adyar, and OMR, can be a huge step in your real estate investment journey in Chennai. So, if you consider all the above-mentioned factors, Chennai is a great location for buying a property.