Chennai is becoming the Mecca for NRI real estate investments. Year on year the rates of NRI investment in this city is increasing. And the investments are not limited to Chennai born or brought up NRIs solely! As an NRI, when you are thinking of investing in Indian real estate market, Chennai is your best bet. This old age city is astounding everyone with its fast growth rate. With a booming IT and heavy industry in place, Chennai has become an ideal place to put up at. With a great public transport system, shopping, educational, medical and recreational facilities Chennaiites are promised a high quality of life. If you need some more reasons, before taking a final call about investing in Chennai real estate, then here they come.
#1: AMONG TOP 12 CITIES IN INDIA
?As mentioned above, Chennai and its suburbs are developing at a rapid rate. And it is no wonder that a recent report by Candy GPS listed Chennai among the top 12 real estate investment avenues in India. The same report also listed Chennai as the best city to live in India. Chennai is a city with bright future prospects for real estate investments. After all, it is made with an eye on the future!
#2: HIGH APPRECIATION, LOW DEPRECIATION
Over the last five years, property prices in Chennai have risen steadily and consistently. In the same course of time, no depreciation in the property rates has been witnessed. Analysts believe that properties in Chennai will witness a 7-10% annual appreciation over the next few years. The experts also believe that there are no threats of depreciation in the coming years!
#3: REALISTIC AND AFFORDABLE PRICES
?The fun of investing in Indian real estate is that you pay less and earn more. Similar is the benefit of Chennai real estate investment. One criterion that separates Chennai properties from other mega cities of India (such as Mumbai and Kolkata) is the realistic property rates. You are sure to get the best deals in this city.
#4: HUGE ROI PROSPECTS
Chennai offers significant future benefits for the NRIs. Once you invest in Chennai real estate you can always expect huge capital appreciation. Capital appreciation for properties in Chennai metropolitan and surrounding areas, over the last three years, has been at an astounding rate of 150%. So, investing in Chennai real estate opens doors for big capital gains!
#5: HIGH RENTAL RATES
With the rising employment scopes in Chennai, more and more people are relocating to this city of opportunities. Professionals are often not interested in buying a property as they are not quite sure how long they would stay in the city. This is why they are on the lookout for good rental properties. And as a result, the rental rates in Chennai and its suburbs are always on the rise. By investing in Chennai real estate you can get high rental incomes every month.
#6: ABUNDANCE OF OPTIONS
Unlike other real estate hubs of India, Chennai has something for everyone’s budget. Whether you want a luxurious property in the city center or a budget property in the outskirts, everything is readily available. You can invest as per your wish in this city.
#7: UNEXPLORED AREAS WITH HIGH PROSPECTS
Today, the Chennai metropolitan area is spreading to the outskirts. Localities like Pudhupakkam, that once used to be unexplored real estate entities, can now see development with the growing villa trends and terrace gardening which is attracting plenty of attention. Not only can properties in these areas be bought at dirt cheap rates, they also promise a good income in the future.
#8: CHENNAI OFFERS SAFETY TO CITIZENS
The Female Security Index (FSI) in Chennai is much higher than any other metro in India. The overall crime rates are also quite low in this city. This makes life in Chennai a safe proposition. If you are willing to settle down in India, then Chennai offers you the safest environ.
#9: HIGH RESALE VALUE
The prospering real estate sector in Chennai offers a high resale value. If you sell a property, situated at a prominent location, you can make a significant profit for sure. As an NRI, it gives you the option. You can either settle down, or you can sell off the property if your plans do not quite work out.
#10: EASY PROPERTY SCOUTING
With the humungous growth in the Chennai real estate sector, property hunting has become really simple today. You can visit some of the popular property websites and check out their large property listings. There are also high definition videos and images of the properties which help you choose properties without even visiting India.
If you are looking to invest in Indian real estate then Chennai is your best destination. And hope we have been able to support this statement with our facts.