Why investing in Ambattur will do you good |
Posted: April 24, 2017 |
Gone are the days when one would want to buy properties in neighbourhoods like Anna Nagar, Nungambakkam or even Alwarpet. Those have become some of the super expensive realty hubs in the city. Not to mention the saturation that has hit these markets. Affordability is the need of the hour. Today lesser known vicinities like Ambattur, Porur, Urapakkam and Velachery have caught the eye of many home buyers in Chennai. The rapidly growing realty sector and the stable affordable housing supply are some of the factors that are pushing realty demand here. Amongst all the other peripheries- several civic developments in Ambattur have led to the locality becoming a sought after residential hub. Below are some of the pointers that are working out in this locality’s favour. Infrastructural developments The Tirumangalam flyover eases traffic congestions and has opened access to neighbouring localities like Red Hills, Koyambedu and Avadi. Chennai Corporation’s most awaited integrated storm water drains network will also help this locality. The work on the Rs 4,000 crore project covering Alandur, Valasaravvakam and Ambattur has already kicked off. The sought after BRTS (Bus Rapid Transit System) could be a reality soon. The Koyambedu and Ambattur corridor is one among the five shortlisted corridors. Several automobile industries coming to this micro market has enticed many home buyers to shift base here - thus improving the realty market substantially. Affordable property prices With the price sensitive Chennai market creating a supply for properties below Rs 50 lakhs - Ambattur has documented overwhelming influx of mid-segmented housing demand. 2 and 3 BHK apartments in Ambattur that spread over 1,000 square feet are estimated to range between Rs 25 lakhs and Rs 51 lakhs. Capital values of builder floor apartments are cited to cost anywhere between Rs 3,700 and Rs 5,700 per square feet. Property developers have penetrated the market due to the availability of land of large parcels hence demand for plots have pushed property prices here to soar. Residential plots here are estimated to cost an average of Rs 28000 per square yard. High ROI Because of its strategic location, properties in this vicinity are known for generating high return on investment. Property values of apartments in Ambattur have appreciated by over 15% in the past one year. Capital values of residential plots in Ambattur too have witnessed an escalation of 23% within a year’s time. The average rental yields too have worked towards creating a robust rental market. Families and bachelors can easily rent an apartment or a house for Rs 10 or 12 per square feet per month. If you are looking for an apartment for rent in Chennai or a rent house in Chennai this is the right place for it. You can make a substantial profit from letting your apartment for rent in Chennai located in this micro market. Rest assured that there will be many takers for rent house in Chennai which is located in this area. So investing here is a win-win situation for you.
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