Chennai is a rapidly growing city, and there are several emerging localities that are ideal for real estate investments. These localities offer great potential for high returns on investment, making them attractive options for investors. Here are five emerging localities in Chennai to invest in real estate:
Selaiyur is one of the fastest growing localities in Chennai in Tambaram East Zone which lies in the Tambaram Velachery connecting corridor , this is one of the well developed corridors in Chennai which has a good number of Educational institutions, Hospitals and Entertainment zones. Selaiyur which lies closer to Tambaram railway station has a demand from working professionals in GST and in OMR. You can find a good number of old and new flats for sale in Selaiyur from direct owners and builders in any online medium. The ticket size of a new 2bhk varies between 60 and 70 lacs all inclusive.
Sholinganallur is a fast-developing locality in Chennai, and it is home to several IT parks and SEZs. The area has seen significant growth in the past few years, and it is a great option for investors who are looking for affordable properties with good rental yields.
The real estate demand in Sholinganallur is driven by IT employees from other cities and states. Nearly 4 lakh IT employees are residing in OMR starting from MadhyaKailash to Thiruporur and has nearly 400 apartment complexes and many under construction apartments as well. OMR is the preferred corridor for IT employees and investing in real estate in OMR will give good monthly returns. You pick any locality in the OMR corridor starting from Perungudi to Sholinganallur it gives similar returns. Since gated communities are preferred by the IT employees, investing in gated community flats in Thoraipakkam or Sholinganallur will be a wise investment.
Medavakkam is another emerging locality in Chennai, and it is well-connected to the rest of the city. The area has seen a significant increase in the number of residential and commercial projects, making it an ideal option for investors who are looking for budget-friendly properties with good growth potential. Medavakkam is the preferred locality for IT employees in OMR and people working in Velacheri or in Radial road. Nearby localities of Medavakkam like Mambakkam and Madambakkam are witnessing tremendous real estate growth in recent years.
Perumbakkam is a developing locality in Chennai, and it is home to several premium residential projects. The area is well-connected to the rest of the city and has a range of amenities, making it an ideal option for investors who are looking for high-end properties with good growth potential.
Navalur is a rapidly growing locality in Chennai, and it is known for its affordable properties and excellent connectivity. The area is home to several IT parks and SEZs, making it a great option for investors who are looking for properties with good rental yields.
In conclusion, these five emerging localities in Chennai offer great potential for high returns on investment. They are well-connected to the rest of the city and have a range of amenities, making them attractive options for real estate investors. It is important to conduct thorough research before making an investment decision to ensure that you find the right property that fits your budget and investment goals.