The properties in Chennai has recently been in news for all good reasons. The city has been amongst the top 5 cities as far as return on investment is concerned and is amongst the most sought out places in Indian property market. Here are the important reasons as to why market analysts and property experts have all predicted that Chennai will be the next big thing in real estate –
Most preferred by residents
Chennai is one of the most urbanized cities to live in India. As a result there is renewed demand for residential homes in this region. This can also be confirmed by search results of online property web portals like Housing.com wherein most home buyers were found searching for properties in southern cities of Hyderabad, Chennai and Bangalore.
The other critical advantage that property in Chennai has over its peer is its exceptional connectivity. This city is very well connected to all major cities and states of India by road, rail as well as airways. It also has a distinction of being one of the elite cities to be connected to all major nations of the world.
Round the clock power supply
The state of Tamil Nadu has an installed capacity of nearly 20 thousand megawatt, which makes all of its cities including Chennai self-reliant as far as power supply is concerned. The uninterrupted power supply has resulted in better standard of living which has given the much needed impetus to the growth of realty in Chennai. By 2016, it is widely expected that state will have excess power making it one of the leading destinations in India in terms of investment opportunities.
Features highest tele density
The state of Tamil Nadu has the highest tele density in India and the city of Chennai is not far behind. People here are tech savvy and prefer to transact online through credible property websites like Housing.com. This has meant that properties in Chennai are easily liquidated and the average turnaround time per transaction is less than a week.
Has an excellent educational facility
Chennai is also renowned for its state of the art educational facilities. It is home to several leading colleges of arts, science, commerce, engineering, information technology, etc. This is not all; the educational system here is getting better by the day and as a result the number of migrating students to the city is on the rise. This has led to increased demand for rental homes, hostel and paying guest accommodation which contribute significantly to the growth of real estate in Chennai.
Excellent physical infrastructure
The other factor that firmly establishes Chennai as a next big thing in real estate sector is its robust physical infrastructure. It already has sound social and urban infrastructure with best in class civic facilities. The high speed rail connection and Greenfield airport will add few more features to its cap. Infrastructure is by far the biggest factor that dictates terms in real estate dealings and Chennai has got all basis covered when it comes to structural set up.