Chrompet offers Residential Housing near Work Station

Located close to Tambaram and next to Pallavaram, Chrompet has rapidly developed as a preferred residential location, particularly for young professionals. Also, chrompet lies on Grand Southern Trunk (GST) Road, so well-connected by roadways and railways to all parts of the city. Also, the property value is lower than other established localities like OMR, Tambaram, Pallavaram etc since the project The Royal Castle Thirumudivakkam of Amarprakash is located here. The project is also one of the reasons that are driving the attention of people.

With the advent of IT revolution in and around Chrompet, the locality is riding higher on the real estate sector. This is also a reason for a huge demand for residential properties. For people who are looking for housing units in prime location within the budget, Amarprakash homes are the right choice. For instance, the properties in The Royal Castle Thirumudivakkam are available within the price budget of Rs.30 to 60 lakhs, said the real estate report. Some people have numerous doubts that is whether buying a home at an affordable cost will reap any benefits with regards to appreciation and lots more questions. But the previous customers of Amarprakash clearly provided an answer for this question where they said their properties are increasing in value at a fast pace. So, the buyers of The Royal Castle Thirumudivakkam apartment are guaranteed of high capital return.


Since localities like Velacherry, Guindy and many more are becoming saturated, spill over demand from these localities took place which in turn drive the demand and supply of housing units in these place. Also, the residents can reach Chennai International Airport within few mins of drive and can have connectivity to all parts of the city. Answering to the question of people who asked, what are the residential township projects coming up in the locality today? Well, to begin with, reputed developers like Amarprakash have already started their gated community projects which include The Royal Castle Thirumudivakkam, Palm Riviera, Temple Waves and also the builder has successfully handed over The Heritage, Saffron Heights etc in these well established locality. The above said projects would be ready for possession between the year 2014 and 2015.


When asked what are the housing options available for people in The Royal Castle Thirumudivakkam Township? It reveals that housing options like studio apartment, duplex flat, 2 BHK, 3 BHK and 4 BHK homes with varying Sq.Ft range are available. This shows how Amarprakash developers have realized the current scenario very well and have constructed homes as per the requirement of people. With increasing demand, the capital value of The Royal Castle Thirumudivakkam apartments is rising further.            

The Royal Castle Thirumudivakkam Township Emerges as a New Investment Destination

In Chennai, real estate field has emerged as a hot investment destination. This let banks to rush to offer funds for commercial and residential real estate though there is a slow growth and inventory pileup. Today, in Chennai alone, there are around more than 100 mega-township projects. In the year 2013-14, almost all 100 projects came for bank funding for about Rs.250 Crore. The bank sanctions a huge amount of loan thus topping the chart for most builder’s since construction of mega-raised projects consumes huge amount of money. By the end of August 2013, banks funding for commercial real estate has rose up to 19% that is to almost Rs. 5000 Crore. This is higher when compared to August 2012.    

Both bankers and real estate consultants, play down the concerns. Several safeguards have been implemented by Reserve Bank of India in order to give safety and security for banks against funding. In spite of this, real estate is the only sector that offers people the opportunity to earn a higher amount than other sectors like Telecom, Pharma and lots more. Generally, bankers believe that funding real estate is not as risky as it is taught to be. In general, the funding requirement for the real estate project will be around 10% of the project cost and the builder’s takes around 5 to 7 years to repay the entire amount. In addition to this, real estate developments not only plays a huge role in the infrastructural growth of the city but also helps in the growth of steel and cement manufacturing companies and also provides a huge number of employment opportunity.

Funding from banks plays a crucial role when it comes to real estate market. This is because there are many projects which have stopped their construction in between due to inadequate funds and other problems. But this will not happen in case of Amarprakash projects including The Royal castle Thirumudivakkam, Temple Waves and many more projects as all their projects are in high demand among people so it gets sold off sooner when the projects are launched. So there are no chances for Amarprakash projects to get stopped in between due to lack of fund or any other thing. The projects of Amarprakash including The Royal Castle Thirumudivakkam are not only constructed in prime area but are also cost-effective with modern facilities. Another great benefit of owning a home in Amarprakash is that the builder hand-over the keys on-time to their customers. This helps people to take on possession on-time without any delay. So, people can lead a problem-free lifestyle in Amarprakash projects of The Royal Castle Thirumudivakkam.   

Chrompet Gained Popularity by The Royal Castle Thirumudivakkam Township

Located in the Southern part of Chennai, Chrompet is slowly gaining the attention of people towards real estate investment with the establishment of many hi-tech projects like The Royal Castle Thirumudivakkam, Palm Riviera and many other township projects. Even the real estate experts say that the destination assures the investors with good value return. Here let us see what makes the destination a preferred location? Some reasons why people should invest in The Royal Castle Thirumudivakkam are as follows
  
Social and Civic Infrastructural Development: Impact of real estate growth in Chrompet is due to its development in civic and social infrastructure. The residents of The Royal Castle Thirumudivakkam  Community  and other townships can enjoy easy accessibility to neighboring areas like Tambaram, Pallavaram and Thoraipakkam with the construction of State Highway 109 which is also known as Pallavaram-Thoraipakkam Flyover. Chrompet is also surrounded by premium educational institutions like Tagore Arts and Science college, Madras Institute of Technology, Sree Balaji Medical college and IRT polytechnic college. Apart from educational institutions, the location is also popular for commercial growth. In  Chrompet, people need not worry about medical facilities during emergency as lot of hospitals like The Government General Hospital, Parvathy Hospital, Chromepet Government Hospital and Sree Balaji Hospital are available.
     
Connectivity: Located along GST road, Chrompet is close to Tambaram and next to Pallavaram. So, the residents of The Royal Castle Thirumudivakkam apartment can enjoy excellent connectivity to all places of Chennai. In addition to this, the residents of this locality can also reach Chennai International Airport at just about 10 mins. Chrompet also have electric train service so it helps people to have easy and fast accessibility to all areas of Chennai. There is a big bus stand where people can reach the interior parts of Chrompet and also have connectivity to all other areas of the city.   

Price: When compared to other localities of the city, Chrompet offer lots of ready- to-move apartments at a reasonable price. This is only because of Amarprakash builders who offer apartments at an affordable cost in their projects including The Royal Castle Thirumudivakkam, Temple Waves etc. That means though the current prevailing market price in this area is 4500 rupees per Sq ft, the builder sells their apartments at just Rs. 3500 to 3750 per Sq ft. 

New projects: A number of new projects are coming up in this locality due to its huge growth. Temple Waves,  Palm Riviera and The Royal Castle Thirumudivakkam by Amarprakash builders and many other mega projects. So make your investment soon in this locality and gain a huge profit.

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.