Other than being the safest city in India, Chennai is also one of the biggest educational, economic, and cultural centers in South India. With the growth in the IT sector in the city, it has paved the way for development of a multitude of residential projects. Various real estate developers in the city have several residential projects where one can invest in Chennai. However, an important aspect of investing in any property is the location that it is situated in. Since Chennai is rapidly growing and real estate developers are constructing residential projects, the next question that investors have is: which are the best places in Chennai to invest in real estate? Let us briefly look at them:
Old Mahabalipuram Road
Old Mahabalipuram Road (or OMR) is a 45km stretch which is termed as the IT corridor. It has recently started experiencing increased real estate activity because of the establishment of various IT/business parks. This increased real estate activity is drawing several investors as well as businessmen here. For anyone who has an office on the OMR, it is best to invest in a property at this stretch.
Ambattur
OMR is not the only region that has seen industrial growth in Chennai. Ambattur is also one of the many places to experience this growth and it has led to rise in the number of residential properties in the region. Although Ambattur is a comparatively smaller region, it is nevertheless an excellent place in Chennai to invest in property. Furthermore, because of the nascent stage of the development, the properties in Ambattur, at present, are quite affordable.
Pallikaranai
Pallikaranai lies close to the industrial clusters and IT/ITeS of Chennai. The recent merger of micro markets under the Council of Chennai has opened the way for real estate developers to commence new projects within this region.
Oragadam
When it comes to Chennai, Oragadam is one of the many attractive suburbs. This can be attributed to the various Fortune 500 companies present in the Oragadam-Sriperumbudur industrial belt, the largest one in Chennai. In the past half a decade, more than 400 units of residential properties have been established. The price of the property here is generally between Rs. 3300 and Rs. 3600 Square feet. Most of the new units are in the mid-segments. However, the region has several luxurious residential places as well.
Gudavanchery
Althoguh Gudavanchery is still developing, it promises great and affordable residential properties in Chennai. The residential growth in the region is driven by the industrial and the IT parks, and its excellent connectivity with other regions. Since 2013, more than 4500 residential units have been launched in this region.
Chennai has become one of those cities which are rapidly growing, and this in turn is driving the residential establishments in the city. Many reputed developers in India are commencing projects in Chennai to not miss out on these opportunities. Therefore, if someone wants to buy a property in Chennai, each of these regions presents a viable avenue.
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