Planning to buy a property in Chennai? Prefer any of these emerging investment destinations

Chennai is one of the major real estate markets in South India. Alongside, some of the other metropolitan cities like Bangalore and Hyderabad have been witnessing an upward trend in real estate market in the southern part of the country. Also, these cities are also considered to be to be ultra-safe, as these cities are made up of conservative buyers who are end-users. The major areas which are growing in Chennai are located in the northern and western parts of the city. Some micro markets in the southern parts of this city are also performing quite well. As the properties are reasonable here, the demand for housing has been high. They are currently in the growth phase and are hence reasonably priced. As the prices of properties in the prime areas of Chennai have reached sky-high, the potential home buyers are now looking out for apartments in Chennai’s upcoming micro markets in the outskirts. A buyer will have to spend anywhere between INR 15000 to 20000 per square feet on properties which are located within the city limits. But by spending anywhere between INR 5000 to 10000 square feet in micro markets in the northern and western regions, they would be able to save money and get a property which could be the same size or of even bigger proportion. These areas might not be on par with the central and southern parts, but they have been witnessing tremesocial and civic infrastructure. So it is ideal to buy villas and apartments in Chennai located in north and west-Chennai. The markets which are located along the Grand Southern Trunk Road (GST Road) are quite popular among property seekers. The micro markets here are good for both investors and end users. One can buy any type of property here and it will pay good retuns in the future. One can invest in plots in Guduvanchery or flats in Chromepet and expect it to appreciate at a good pace in the future. When compared to the central business districts of the city, the properties here are priced just right for the common man. Some of the ongoing projects in these two localities include Lancor Lumina Apartment , The Royal Castle, South India Shelters Queenstown, Temple Waves and much more. One can look at areas such as Pallavaram, Vandalur, Tambaram, Guduvanchery and Chromepet when looking for properties along the GST Road. Buying plots in Guduvanchery or Vandalur will be a good choice as they are micro markets which are coming up. Tambaram, Pallavaram and Chromepet are considered to be some of the more established markets present along this stretch.rnWhen looking at the northern and western parts areas such as Ashok Nagar, KK Nagar, Vadapalani, Ambattur, Avadi, and Madhavaram should be in the buyer’s radar. The recent metro connectivity has also played a major role in boosting the real estate market in western parts of Chennai. Especially, Ambattur has been witnessing a good demand for residential properties. As this locality has the presence of several IT parks, and connectivity via road and rail, this region has been one of the most preferred investment destinations in recent times. Some of the ongoing projects in this region include GP Pearl Iris, Sree Guru Anugraha , etc.