When is it a good time to invest in Chennai Real Estate Market

Over the past 5 years, Chennai has witnessed more supply of quality IT and SEZ companies. Since the recovery of global economy, many corporate are showing more interest towards buying or renting quality office space. Recent stocking news is that almost 94% of the leasing was registered in approx 2.4 million Sq.Ft office space in the last quarter. Apart from commercial sector, residential sector also continues to be more robust with the entry of local and national real estate developers who made their investment of around Rs. 1,000 crore in properties in various places for residential development. Interestingly, the developers made their investment of Rs.1,000 crore in locations within the city than in the peripheral locations.     

In spite of this, some developers’ sense to make their investment on luxury locations like poes garden, boat club and nungambakkam since these locations remained high in history. Moreover, overall unsold units in these luxurious locations would be less than peripheral locations. That means, unsold units are on high rise in peripheral locations in Chennai. 

Will the Prices shoot up?

 

The sales rates in residential sectors are improving hugely as the overall housing demand is on increase. The main reason for this is because of infrastructural improvements, rise in income levels and increasing job opportunities. Stable capital value trends are maintained in most of the micro markets. But, the mid-end locations like Velacherry, OMR, GST road, Adyar and many more are witnessing rise in capital values. Due to infrastructural improvements and ongoing metro rail projects are providing an upward trend in the market so the price of properties in GST road and Velacherry are seeing a 40% increase in appreciation.

On the other hand, high-end areas like R.A.Puram, Alwarpet and Abhiramapuram are witnessing an increase of 5% in capital value in this year. According to the recent survey, it is said that still there are more number of unsold units in some parts of OMR and ECR, so price corrections are always common in these locations. But locations like GST road and OMR are continuing to attract many people in the long term investment. So, investing in these locations is advisable for the buyers. Want to buy in GST road, then don’t look for any other projects when The Royal Castle of Amarprakash is positioned here. 

The Royal Castle Thirumudivakkam Township is said to be the best one for investment as all necessary things are in place. Amarprakash developers creditability can be ensured with a good track record of their previous projects and no delay in construction completion. So hurry up! Make your investment in The Royal Castle Thirumudivakkam project and be one among the lucky one.